{"id":1894,"date":"2013-05-08T13:28:50","date_gmt":"2013-05-08T17:28:50","guid":{"rendered":"http:\/\/www.silver-investor.com\/blog\/?p=1894"},"modified":"2018-06-10T10:55:58","modified_gmt":"2018-06-10T10:55:58","slug":"important-article-from-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.themorganreport.com\/blog\/important-article-from-the-irish-times\/","title":{"rendered":"Important article from the Irish times"},"content":{"rendered":"

Important article from the Irish times
\nSubmitted by Jim Sinclair–
\nSee http:\/\/www.irishtimes.com\/business\/sectors\/financial-services\/bank-deposits-of-over-100-000-may-be-at-risk-1.1384295 <\/a>
\nIt will be the catalyst to the “Emancipation of Gold” which is from gold paper fraud. Fear of account risk to “Bail In” is going to go viral where big money is concerned. This is one of the factors in the large bull market for physical gold that the paper gold manipulators cannot extinguish with price pressure.
\nThe more these geneses pressure gold the greater the demand for physical gold will become. Please review video #3 from yesterday on Boss Hogg and gold. (Again per Jim Sinclair)
\nSee: http:\/\/www.youtube.com\/watch?feature=player_embedded&v=e32MBv7VYVk<\/a>
\nBank deposits of over \u20ac100,000 may be at risk
\nProposals under Irish presidency to deal with European bank collapses likely to \u2018bail-in\u2019 large depositors
\nDeposits of over \u20ac100,000 are likely to be hit in the event of future European bank collapses, according to a proposal put forward by the Irish presidency of the European Council ahead of a key meeting of finance ministers next week.
\n* Discussions on the controversial bank resolution regime, which is likely to see savers with deposits over \u20ac100,000 \u201cbailed in\u201d as part of future bank wind-downs, are due to intensify this week in Brussels, ahead of Tuesday\u2019s meeting, which will be chaired by Minister for Finance, Michael Noonan.
\n\u201cWe will try to get some guidance from Ministers about the possible design of the bailout tool,\u201d one EU official said yesterday.
\nThe Irish Times takes no responsibility for the content or availability of other websites.
\nUnder a compromise text proposed by the Irish presidency, uninsured deposits of over \u20ac100,000 would be bailed in in the event that a bank is resolved, but depositors would rank higher than other creditors in the event of a wind-down.
\nIn this scenario \u2013 known as \u201cdeposit preference\u201d \u2013 depositors would rank at the very end of the process, with other creditors first absorbing losses.
\nHowever, some member states have not ruled out the possibility that insured deposits, i.e. deposits under \u20ac100,000, would be forced to bear losses in the event of a bank collapse even though these deposits would be likely to be protected by the deposit guarantee scheme.
\nHowever, the explicit exclusion of insured deposits from future \u201cbail-ins\u201d could in fact be included in the final text, according to some sources, with some MEPs in particular keen to include such a provision.
\nSignificant differences still remain between states on the issue, with some countries calling for greater flexibility as regards the application of the new rules on a national basis, including the possibility that individual countries could be permitted to exempt large depositors from losses if a bank fails.
\nThe introduction of an EU-wide bank resolution process, which would govern how banks are wound down, is a key strand of the EU\u2019s plan for a pan-European banking union, which was endorsed by EU leaders at last June\u2019s summit.
\nHowever, the chaotic Cyprus bailout instilled the issue with greater urgency, with EU lawmakers now keen to provide clarity around bank collapses.
\nMoving the burden
\nThis year Jeroen Dijsselbloem, head of the group of 17 euro zone finance ministers, said that losses on bondholders and depositors could form part of future bank bailouts as euro zone officials seek to move the burden of bailouts away from taxpayers \u2013 as was the case in the Irish bailout \u2013 and on to private investors.
\nThe European Commission argues that this switch from so-called \u201cbailouts\u201d to \u201cbail-ins\u201d would result in an allocation of losses that would not be worse than the losses that shareholders and creditors would have suffered in regular insolvency proceedings that apply to other private companies.
\nWhile the inclusion of large savers in future bank bailouts is now widely accepted, significant differences still remain between member states.
\nWhile the new rules governing bank resolution were first intended to come into place in 2018, since the Cypriot bailout there have been calls from senior EU figures such as European Central Bank president Mario Draghi and EU economics affairs commissioner Olli Rehn to introduce the new regime as early as 2015.
\nThe Irish presidency of the European Council is hoping to reach a common position by the end of next month.<\/p>\n","protected":false},"excerpt":{"rendered":"

Important article from the Irish times Submitted by Jim Sinclair– See http:\/\/www.irishtimes.com\/business\/sectors\/financial-services\/bank-deposits-of-over-100-000-may-be-at-risk-1.1384295 It will be the catalyst to the “Emancipation of Gold” which is from gold paper fraud. Fear of account risk to “Bail In” is going to go viral where big money is concerned. This is one of the factors in the large bullMore<\/a><\/span><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[121,89],"tags":[],"yoast_head":"\nImportant article from the Irish times<\/title>\n<meta name=\"description\" content=\"Important article from the Irish times\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.themorganreport.com\/blog\/important-article-from-the-irish-times\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Important article from the Irish times\" \/>\n<meta property=\"og:description\" content=\"Important article from the Irish times\" \/>\n<meta property=\"og:url\" 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