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IPFS News Link • Corruption

The Eve Of Another Banking Collapse

• RINF

During the American Economic Depression of the 1930's, some bank deposits were devalued by 40%. In simple terms, this meant that deposits valued at $1,000 were deemed to be worth only $600. A plan agreed at the G20 Summit in Brisbane (November 16, 2014), allows for depositors' money to be used to bail out 'failing' banks. That is, a contingency has been put in place to allow governments to use their citizens' money to rescue banks which get into difficulties, because of their faulty mortgage lending policies, or reckless gambling on the derivatives market....


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