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Conservative Budget Bail-in Regime May Allow Banks to Confiscate Customer's Deposits

by Dr McVety

On March 21st, 2013, Prime Minister Stephen Harper had his Finance Minister Jim Flaherty present their 2013 Budget that included a "Bail-In Regime" on page 145. "The clause will allow banks to convert liabilities into capital in times of need". The recent events in Cyprus, coupled with the G20 agreement in Mexico City-2012, suggest that this so called bail-in scheme may be used to plunder the savings of Canadians.

...Conservative Budget Bail-in Regime May Allow Banks to Confiscate Customer's Deposits