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Posted

https://www.bankofengland.co.uk/paper/2021/executing-bail-in-an-operational-guide-from-the-boe

- Check out the PDF on this page "Executing bail-in: An operational guide from the Bank of England"

- This details basically how they banks can enact this scenario. However there is no mention of a limit or amount at which the bail-ins get taken. Eg: £85000 and above

 

https://www.bankofengland.co.uk/freedom-of-information/2021/questions-about-bail-in-and-customer-deposits

- Whilst they state that protected deposits are protected (FSCS Protection £85,000 per account per banking license**) and you wouldn't lose any money, you might not be able to access it for a period whilst the bank stabilises itself. As you could imagine, if a bank did perform a bail in, a lot of customers would want to move banks. This could trigger a further requirement for funds.

- I wouldn't take the above to mean that upto £85,000 or £170,000 on the joint bank accounts would be safe, we know how the Central Bank and Government like to change the rules to suit

 

** - FSCS determines that an individual can have upto £85,000 or £170,000 jointly protected by a banking license.

   - https://www.fscs.org.uk/making-a-claim/customer-info/banking-licences/

   - As of March 2020 (PDF below ~52 banking licences that cover over 350 Managed Financial Institutions)

   - https://www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/authorisations/which-firms-does-the-pra-regulate/2020/fscs-banking-brands-march-2020.pdf

 

https://www.gov.uk/government/consultations/bail-in-powers-implementation-including-draft-secondary-legislation/bail-in-powers-implementation

- The Bank of England links above are backed up by the UK Gov website

- This does however state the following:

The BRRD also includes provisions regarding the ranking of deposits in the insolvency hierarchy in what is currently Article 98A (subject to renumbering). It requires Member States to ensure that:

 

“eligible deposits – that is, deposits of any amount that qualify for protection under the Deposit Guarantee Scheme (in the UK, the Financial Services Compensation Scheme)

– from natural persons and SMEs, have a higher priority ranking in insolvency than the claims of ordinary unsecured creditors

covered deposits – that is, deposits that qualify for protection under the Deposit Guarantee Scheme, up to the coverage limit (in the UK, £85,000) shall have a higher priority ranking in insolvency than the part of eligible deposits from natural persons and SMEs that exceed the coverage limit”

 

As outlined above, the government is seeking views in the consultation on the transposition of certain aspects of the BRRD. The government will consult on transposition of the remainder of the BRRD in due course.

The closer the collapse of an Empire, the crazier it's laws - Marcus Tullius Cicero

We had the warning in 2006-9 but central banks ignored it and just added new worthless debt to existing worthless debt to create worthless debt squared – an obvious recipe for disaster. - Egon von Greyerz

https://www.thesilverforum.com/topic/83864-uk-bank-regulations/

 

Posted
12 minutes ago, flyingveepixie said:

If bail-ins ever happen I'm pretty sure they wont be only on accounts with over £85k in them. I would daringly suggest they'll start pinching cash from anyone who has much less in their account, like maybe around £25k or less.  As for that £85k protection thing - I've always thought that was just a load of bollocks.  How're they going to pay all of that back if it vanishes..?   They don't have it and will issue a bunch of worthless bank shares or CBDC instead. It's all a load of ****ing bollocks.  Banks like Natwest are still largely taxpayer owned after 15 years with no sign of that money ever being repaid so how're they going to pay individuals whose money they've nicked for a bail-in. They're a bunch of lying cnuts.

They will honour the 85k just print it digitally but 85k will be worthless really....

Central bankers are politicians disguised as economists or bankers. They’re either incompetent or liars. So, either way, you’re never going to get a valid answer.” - Peter Schiff

Sound money is not a guarantee of a free society, but a free society is impossible without sound money. We are currently a society enslaved by debt.
 
If you are a new member and want to know why we stack PMs look at this link https://www.thesilverforum.com/topic/56131-videos-of-significance/#comment-381454
 
Posted
7 minutes ago, flyingveepixie said:

If bail-ins ever happen I'm pretty sure they wont be only on accounts with over £85k in them. I would daringly suggest they'll start pinching cash from anyone who has much less in their account, like maybe around £25k or less.  As for that £85k protection thing - I've always thought that was just a load of bollocks.  How're they going to pay all of that back if it vanishes..?   They don't have it and will issue a bunch of worthless bank shares or CBDC instead. It's all a load of ****ing bollocks.  Banks like Natwest are still largely taxpayer owned after 15 years with no sign of that money ever being repaid so how're they going to pay individuals whose money they've nicked for a bail-in. They're a bunch of lying cnuts.

100%! 

I put this hear as I wanted an easy place to reference it, as it is becoming more and more blatant that they are gearing up for Bail-ins.
I think the bar might be lower than £25k/account, I think they could target accounts with £15k or higher in. They will want to wreak maximum damage and coverage, because I agree, the repayment of the FSCS protection will be via a CBDC account, but in tranches, slowly over time, so they can inflate the value away even more.

If they target a too high a balance in an account, they risk only catching 2% or 5% of the population. They want 60% of the population to have a CBDC account in one fowl swoop. So you hit bail-ins at a low enough level to get say 30-35% of the population and then at the same time offer UBI to those 15-25% of the population in poverty. Boom, job done, majority with a CBDC account. 

This is why several YouTubers say to have your FIAT spread of multiple bank accounts, but the caveat is make sure they're on different banking licenses. 

The closer the collapse of an Empire, the crazier it's laws - Marcus Tullius Cicero

We had the warning in 2006-9 but central banks ignored it and just added new worthless debt to existing worthless debt to create worthless debt squared – an obvious recipe for disaster. - Egon von Greyerz

https://www.thesilverforum.com/topic/83864-uk-bank-regulations/

 

Posted
24 minutes ago, HerefordBullyun said:

They will honour the 85k just print it digitally but 85k will be worthless really....

Absolutely, it'll be paid out in instalments over years and inflated away at levels much higher than we've seen int he last 18 months

The closer the collapse of an Empire, the crazier it's laws - Marcus Tullius Cicero

We had the warning in 2006-9 but central banks ignored it and just added new worthless debt to existing worthless debt to create worthless debt squared – an obvious recipe for disaster. - Egon von Greyerz

https://www.thesilverforum.com/topic/83864-uk-bank-regulations/

 

Posted

Not sure what to think about this, these documents have been around for a while, Neil McCoy Ward did a video about it.

I can’t remember the figures but something like 60% of the population have 0 savings and then only around 25% have more than £1000, I think if you have more than £5000 in savings it puts you in or around the top 10%.

If these figures are accurate what % of people have more than £85,000 in savings?

If bail ins happened, it’s going to be slim pickings if most people’s wealth is tied up in property.

the whole FCSC thing is nonsense anyway, as if there’s billions of pounds sitting somewhere waiting to be paid out!

I think bail ins could and will happen but I think it would mean temporary disruption to your bank account, no withdrawals or reduced withdrawals and then the BOE with just add a few zero’s onto the money supply (digitally print more money) Which is concerning as its yet more inflation/devaluation of the currency.

Posted

FSCS is funded by the commercial banks - the whole pot is about half a percent of total liability, not sure how that would be enough if a bail-in is enacted, who in their right mind would trust any of the other banks?

There will be panic and a bank run, in which case the FSCS fund will be totally inadequate

Everybody knows the war is over / Everybody knows the good guys lost
                      Everybody knows the boat is leaking / Everybody knows the captain lied..   Be seeing you2 sm.jpg

                                                                            “The market can stay irrational longer than you can stay solvent”

Posted
19 minutes ago, JohnA1 said:

FSCS is funded by the commercial banks - the whole pot is about half a percent of total liability, not sure how that would be enough if a bail-in is enacted, who in their right mind would trust any of the other banks?

There will be panic and a bank run, in which case the FSCS fund will be totally inadequate

All part of the plan. The government to the rescue, so us taxpayer's fund the payouts of FSCS, but via CBDCs

The closer the collapse of an Empire, the crazier it's laws - Marcus Tullius Cicero

We had the warning in 2006-9 but central banks ignored it and just added new worthless debt to existing worthless debt to create worthless debt squared – an obvious recipe for disaster. - Egon von Greyerz

https://www.thesilverforum.com/topic/83864-uk-bank-regulations/

 

Posted (edited)
7 hours ago, VGfine said:

...I think if you have more than £5000 in savings it puts you in or around the top 10%...

Managed to be in the 90% thank God😁 (where the term 'savings' is defined as balances in 'savings accounts')

In this forum we all know that there is an alternative interpretation of 'savings' that has no counterparty risk and is inflation-proof in the long run.

Very long run in the case of silver 😅

Edited by JohnA1

Everybody knows the war is over / Everybody knows the good guys lost
                      Everybody knows the boat is leaking / Everybody knows the captain lied..   Be seeing you2 sm.jpg

                                                                            “The market can stay irrational longer than you can stay solvent”

  • 2 months later...
Posted

do what  you want with your own money ,   the goverment and banks are  not truthful  when it comes to money  the more honest you are with your bank accounts , tax return etc  , the more he will take ,and destroy you ,  if you want to pay a bit of tax and chuck in a couple  of quid, thats fair enough,  the tax man is not as smart as he pretends to be ,  whats the worse that can happen , you end up in jail for a bit ,    GOOD , i could do with some sleep , and 3 meals made for me, do some exercise , and hang around with the boys for a bit ,  its your life its your money do what you wantmando.thumb.jpg.5a811df2c7efca83a0be2bc98c47f422.jpg

Posted

This is what I've said for ages. They will kill the banks and then offer up the CBDCs are the saviour of the banking system. Whitney Webb is one of the best investigative journalists in the world today.

 

 

 

 

The closer the collapse of an Empire, the crazier it's laws - Marcus Tullius Cicero

We had the warning in 2006-9 but central banks ignored it and just added new worthless debt to existing worthless debt to create worthless debt squared – an obvious recipe for disaster. - Egon von Greyerz

https://www.thesilverforum.com/topic/83864-uk-bank-regulations/

 

Posted
6 hours ago, Gruff said:

This is what I've said for ages. They will kill the banks and then offer up the CBDCs are the saviour of the banking system. Whitney Webb is one of the best investigative journalists in the world today.

 

 

 

 

Some people will openly embrace CBDC’s. Some people will keep as far away as possible. Then there’s the middle ground - neither sceptics or early adopters - the sheep, walking blindly and following the masses. To get them to adopt CBDC’s there will need to be a large or global stimulus which people will have no choice other than have to adopt it - rather similar to covid certificates and the covid nhs app’s everyone put on their smartphones. It’s the great deception. 

💷 💷 Check out my Wanted adds and message me direct if you can help 💷 💷 

Posted
54 minutes ago, KitboyE17 said:

Some people will openly embrace CBDC’s. Some people will keep as far away as possible. Then there’s the middle ground - neither sceptics or early adopters - the sheep, walking blindly and following the masses. To get them to adopt CBDC’s there will need to be a large or global stimulus which people will have no choice other than have to adopt it - rather similar to covid certificates and the covid nhs app’s everyone put on their smartphones. It’s the great deception. 

I've spent years working in financial services and I wouldn't trust them with a dead rat. Nothing is permanent, and CBDCs can be reversed if they do manage to get a decent foot hold before people wake up. 

To get initial traction they'll target UBI and all the illegal immigrants. Then they'll destroy a coupe high street banks in the UK and the FSCS insurance will payout into a CDBC account for you all at once, or they'll give you the option to pay you monthly into a high street bank (then inflate the c**p out of the currency so it is worthless when making later payments). This will entrap more into CDBCs unless we can get the FIAT out into another bank. 

The closer the collapse of an Empire, the crazier it's laws - Marcus Tullius Cicero

We had the warning in 2006-9 but central banks ignored it and just added new worthless debt to existing worthless debt to create worthless debt squared – an obvious recipe for disaster. - Egon von Greyerz

https://www.thesilverforum.com/topic/83864-uk-bank-regulations/

 

Posted
6 minutes ago, Gruff said:

...Nothing is permanent,...

😉 except a shiny element on the periodic table 😇

Everybody knows the war is over / Everybody knows the good guys lost
                      Everybody knows the boat is leaking / Everybody knows the captain lied..   Be seeing you2 sm.jpg

                                                                            “The market can stay irrational longer than you can stay solvent”

Posted
1 hour ago, JohnA1 said:

😉 except a shiny element on the periodic table 😇

True dat!!

The closer the collapse of an Empire, the crazier it's laws - Marcus Tullius Cicero

We had the warning in 2006-9 but central banks ignored it and just added new worthless debt to existing worthless debt to create worthless debt squared – an obvious recipe for disaster. - Egon von Greyerz

https://www.thesilverforum.com/topic/83864-uk-bank-regulations/

 

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