The Global Bankers’ Coup: Bail-In and the Shadowy Financial Stability Board

WEB OF DEBT BLOG

fsb

On December 11, 2014, the US House passed a bill repealing the Dodd-Frank requirement that risky derivatives be pushed into big-bank subsidiaries, leaving our deposits and pensions exposed to massive derivatives losses. The bill was vigorously challenged by Senator Elizabeth Warren; but the tide turned when Jamie Dimon, CEO of JPMorganChase, stepped into the ring. Perhaps what prompted his intervention was the unanticipated $40 drop in the price of oil. As financial blogger Michael Snyder points out, that drop could trigger a derivatives payout that could bankrupt the biggest banks. And if the G20’s new “bail-in” rules are formalized, depositors and pensioners could be on the hook.

The new bail-in rules were discussed in my last post here. They are edicts of the Financial Stability Board (FSB), an unelected body of central bankers and finance ministers headquartered in the Bank for International Settlements in Basel, Switzerland. Where did…

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3 Responses to “The Global Bankers’ Coup: Bail-In and the Shadowy Financial Stability Board”

  1. There is more devious activities to watch-out for,
    See:
    http://ronmamita.wordpress.com/2014/12/04/top-spanish-official-says-primary-task-is-to-end-eu-russia-sanctions-war/#comment-14800

    Remember I shared my dream about Putin’s rescue, even though I think he is untrustworthy too?
    My sense is that Vladimir Putin will be betrayed or double-crossed by another member nation of the BRICS

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