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	<title>Iceland &#8211; The Economic Collapse</title>
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	<description>Are You Prepared For The Coming Economic Collapse And The Next Great Depression?</description>
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		<title>When Society Collapses, Will The United States Be One Of The Best Places To Be Located?</title>
		<link>http://theeconomiccollapseblog.com/when-society-collapses-will-the-united-states-be-one-of-the-best-places-to-be-located/</link>
		<pubDate>Fri, 30 Jul 2021 03:43:59 +0000</pubDate>
		<dc:creator><![CDATA[Michael]]></dc:creator>
				<category><![CDATA[Societal Collapse]]></category>
		<category><![CDATA[Civil Unrest]]></category>
		<category><![CDATA[Global Societal Collapse]]></category>
		<category><![CDATA[Iceland]]></category>
		<category><![CDATA[Ireland]]></category>
		<category><![CDATA[Natural Disasters]]></category>
		<category><![CDATA[New Zealand]]></category>
		<category><![CDATA[Relocation]]></category>
		<category><![CDATA[Tasmania]]></category>
		<category><![CDATA[The Collapse Of Society]]></category>
		<category><![CDATA[The UK]]></category>
		<category><![CDATA[War]]></category>

		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=18853</guid>
		<description><![CDATA[<p>On some level, we all know that it is just a matter of time before our society implodes.  When that day finally arrives, where will you want to be living?  I know that most of you have thought about this at some point.  Even if we don&#8217;t admit it to others, most of us have ... <a title="When Society Collapses, Will The United States Be One Of The Best Places To Be Located?" class="read-more" href="http://theeconomiccollapseblog.com/when-society-collapses-will-the-united-states-be-one-of-the-best-places-to-be-located/">Read more</a></p>
<p>The post <a rel="nofollow" href="http://theeconomiccollapseblog.com/when-society-collapses-will-the-united-states-be-one-of-the-best-places-to-be-located/">When Society Collapses, Will The United States Be One Of The Best Places To Be Located?</a> appeared first on <a rel="nofollow" href="http://theeconomiccollapseblog.com">The Economic Collapse</a>.</p>
]]></description>
				<content:encoded><![CDATA[<p><a href="http://theeconomiccollapseblog.com/when-society-collapses-will-the-united-states-be-one-of-the-best-places-to-be-located/united-states-map-colorful-pixabay/#main" rel="attachment wp-att-18855"><img class="aligncenter size-large wp-image-18855" src="http://theeconomiccollapseblog.com/wp-content/uploads/2021/07/United-States-Map-Colorful-Pixabay-560x346.png" alt="" width="560" height="346" srcset="http://theeconomiccollapseblog.com/wp-content/uploads/2021/07/United-States-Map-Colorful-Pixabay-560x346.png 560w, http://theeconomiccollapseblog.com/wp-content/uploads/2021/07/United-States-Map-Colorful-Pixabay-300x185.png 300w, http://theeconomiccollapseblog.com/wp-content/uploads/2021/07/United-States-Map-Colorful-Pixabay-768x474.png 768w, http://theeconomiccollapseblog.com/wp-content/uploads/2021/07/United-States-Map-Colorful-Pixabay.png 1280w" sizes="(max-width: 560px) 100vw, 560px" /></a>On some level, we all know that it is just a matter of time before our society implodes.  When that day finally arrives, where will you want to be living?  I know that most of you have thought about this at some point.  Even if we don&#8217;t admit it to others, most of us have spent at least a little bit of time thinking about worst case scenarios.  Our world is getting a little bit crazier with each passing day, and <a href="https://www.dailymail.co.uk/news/article-9841073/Biden-tells-states-offer-100-vaccination-bribes-tells-military-look-mandatory-jabs.html">that was definitely true today</a>.  We are cruising down a highway that doesn&#8217;t lead anywhere good, and it won&#8217;t be too long before the wheels start coming off.  When the music finally stops and everyone is scrambling to find a chair, where will you be located?</p>
<p>Earlier today, I was surprised to learn that a scientific study was recently conducted to determine the best place to live during a global societal collapse.</p>
<p>According to that study, the best place to live when our world goes completely haywire will be <a href="https://www.theguardian.com/world/2021/jul/28/new-zealand-rated-best-place-to-survive-global-societal-collapse">New Zealand</a>&#8230;</p>
<blockquote><p>New Zealand, Iceland, the UK, Tasmania and Ireland are the places best suited to survive a global collapse of society, according to a study.</p></blockquote>
<p>In recent years, New Zealand has become extremely popular with the elite.  Many wealthy individuals have gobbled up properties in prime locations in anticipation of what is coming.</p>
<p>I used to recommend New Zealand too, but after what I have witnessed during this pandemic I can no longer do that.  The top politicians in New Zealand have shown that they are authoritarian control freaks, and at this point I am urging everyone to avoid the country.</p>
<p>One thing that you will notice about the top five names on the list is that they are all islands.  Having the natural protection of the ocean is definitely a desirable thing, but being close to shore also makes you vulnerable to tsunamis and rising sea levels.</p>
<p>Of course no place is perfect.  Wherever you live, there are going to be certain risks.</p>
<p>The researchers that conducted this study said that <a href="https://www.theguardian.com/world/2021/jul/28/new-zealand-rated-best-place-to-survive-global-societal-collapse">a number of different factors</a> were used to come up with the final results&#8230;</p>
<blockquote><p>To assess which nations would be most resilient to such a collapse, countries were ranked according to their ability to grow food for their population, protect their borders from unwanted mass migration, and maintain an electrical grid and some manufacturing ability. Islands in temperate regions and mostly with low population densities came out on top.</p></blockquote>
<p>When they were asked <a href="https://www.dailymail.co.uk/news/article-9838831/America-fails-crack-5-places-likely-survive-end-world-giant-borders.html">about the United States</a>, the researchers said that the inability of the U.S. to prevent mass migration pushes it just out of the top 5&#8230;</p>
<blockquote><p>That&#8217;s because its giant land borders make it vulnerable to migration from people who would be trying to escape climate disasters in their own countries: Think streams of people pouring over the southern border from Mexico or the northern border from Canada, for instance.</p>
<p>Still, the U.S. would have fallen somewhere just out of the Top 5, the researchers at Anglia Ruskin University in the U.K. told DailyMail.com.</p></blockquote>
<p>Unfortunately, I believe that there are other factors which need to be considered which should push the U.S. way down the list.</p>
<p>For example, during the riots of 2020 we clearly witnessed the potential for widespread civil unrest in this country.  Major cities were burning from coast to coast last summer, and since that time we have been experiencing <a href="http://theeconomiccollapseblog.com/elderly-americans-are-increasingly-being-targeted-as-violent-crime-soars-to-crazy-levels-in-major-u-s-cities/">an unprecedented spike in violent crime</a>.</p>
<p>So when things really start falling apart, I would strong recommend avoiding any of our core urban areas.</p>
<p>Another factor to consider is how authorities would react during a major pandemic.  This week, the authoritarian side of Joe Biden <a href="https://www.dailymail.co.uk/news/article-9841073/Biden-tells-states-offer-100-vaccination-bribes-tells-military-look-mandatory-jabs.html">has come out</a>, and it has been quite frightening to watch.</p>
<p>I think that one lesson that we have all learned over the past year is that during a global health crisis you really want to be some place where you can simply be left alone.</p>
<p>The potential for natural disasters is another very important factor that was not mentioned by the researchers that conducted the study.  Our world is not a stable place, and we saw another very clear example of this on Thursday.  Alaska was hit by a magnitude 8.2 earthquake, and that represented the largest quake to hit the United States <a href="https://www.adn.com/alaska-news/2021/07/28/gulf-of-alaska-coast-under-tsunami-warning-following-strong-earthquake/">in more than 50 years</a>&#8230;</p>
<blockquote><p>The largest Alaska earthquake since 1965 caused a tsunami warning and local evacuations along the southwest Gulf of Alaska coast late Wednesday. After tsunami waves of less than 1 foot arrived onshore, the warning was canceled and coastal residents returned home.</p>
<p>Jeremy Zidek, a spokesman for the Alaska Division of Homeland Security and Emergency Management, said he expects any damage from the earthquake may be revealed in the morning.</p></blockquote>
<p>We are being told that it was the sixth largest earthquake in the recorded history of North America, and it <a href="https://www.adn.com/alaska-news/2021/07/28/gulf-of-alaska-coast-under-tsunami-warning-following-strong-earthquake/">really shook a lot of people up</a>&#8230;</p>
<blockquote><p>In Sand Point, Patrick Mayer, the superintendent of schools for the Aleutians East Borough, was sitting in his kitchen when the shaking started.</p>
<p>“It started to go and just didn’t stop,” he said. “It went on for a long time and there were several aftershocks, too. The pantry is empty all over the floor, the fridge is empty all over the floor.”</p></blockquote>
<p>Sadly, the truth is that this is just the beginning.</p>
<p>As I have detailed in <a href="https://www.amazon.com/dp/B08DBNHDJS">&#8220;Lost Prophecies&#8221;</a> and <a href="https://www.amazon.com/dp/B099C8R1V1">&#8220;7 Year Apocalypse&#8221;</a>, I am deeply concerned about the potential for great natural disasters on both coasts and along the New Madrid fault zone in the middle of the country.</p>
<p>War is another factor that the researchers should have considered.</p>
<p>It is hard to imagine an entirely peaceful global societal collapse.  And when a major war does erupt, it is probably inevitable that the United States will be right in the middle of it.</p>
<p>Right now, military experts are telling us that Taiwan is one of the key hotspots that could potentially spark a major war, and we just learned that China <a href="https://www.the-sun.com/news/3372974/ww3-fears-china-stages-taiwan-invasion-drills/">recently simulated</a> an invasion of the island&#8230;</p>
<blockquote><p>FEARS of World War Three have been sparked after China staged massive military drills &#8220;invading Taiwan&#8221;.</p>
<p>Beijing also boasted about defeating the US and the UK in any conflict &#8211; and says it is confident the advantages are on its side.</p></blockquote>
<p>And I also think that it is very noteworthy that Russia and China are planning to conduct <a href="https://news.trust.org/item/20210729120607-npfof">&#8220;joint military exercises&#8221;</a> next month&#8230;</p>
<blockquote><p>Russia and China will conduct joint military exercises involving 10,000 troops in mid-August, the Interfax news agency cited the Russian defence ministry as saying on Thursday.</p></blockquote>
<p>So many of the trends that I have been watching for years are now starting to accelerate.</p>
<p>The hour is late, and time is running out.</p>
<p>But of course any sort of a &#8220;global collapse&#8221; is simply unimaginable to most Americans, and for now ignorance is bliss.</p>
<p><strong>***It is finally here! Michael’s new book entitled “7 Year Apocalypse” is now available <a title="in paperback" href="https://www.amazon.com/dp/B099C8R1V1" target="_blank" rel="noopener noreferrer">in paperback</a> and <a title="for the Kindle" href="https://www.amazon.com/7-Year-Apocalypse-Michael-Snyder-ebook/dp/B099HNN8CJ/" target="_blank" rel="noopener noreferrer">for the Kindle</a> on Amazon.***</strong></p>
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<p><strong>About the Author</strong>: My name is Michael Snyder and my brand new book entitled <a title="“7 Year Apocalypse”" href="https://amzn.to/3ibYjxD" target="_blank" rel="noopener noreferrer">“7 Year Apocalypse”</a> is now available <a title="on Amazon.com" href="https://amzn.to/3ibYjxD" target="_blank" rel="noopener noreferrer">on Amazon.com</a>.  In addition to my new book I have written five others that are available <a title="on Amazon.com" href="https://amzn.to/3koobsE" target="_blank" rel="noopener noreferrer">on Amazon.com</a> including  <a title="“Lost Prophecies Of The Future Of America”" href="https://amzn.to/2CU4JB0" target="_blank" rel="noopener noreferrer">“Lost Prophecies Of The Future Of America”</a>, <a title="The Beginning Of The End" href="https://amzn.to/3kvaAQi" target="_blank" rel="noopener noreferrer">“The Beginning Of The End”</a>, <a title="Get Prepared Now" href="https://amzn.to/2HS2mzf" target="_blank" rel="noopener noreferrer">“Get Prepared Now”</a>, and <a title="Living A Life That Really Matters" href="https://amzn.to/2FzGaGw" target="_blank" rel="noopener noreferrer">“Living A Life That Really Matters”</a>. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on <a title="The Economic Collapse Blog" href="http://theeconomiccollapseblog.com/" target="_blank" rel="noopener noreferrer">The Economic Collapse Blog</a>, <a title="End Of The American Dream" href="http://endoftheamericandream.com/" target="_blank" rel="noopener noreferrer">End Of The American Dream</a> and <a title="The Most Important News" href="http://themostimportantnews.com/" target="_blank" rel="noopener noreferrer">The Most Important News</a>, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on <a title="Facebook" href="https://www.facebook.com/michael.snyder.5076" target="_blank" rel="noopener noreferrer">Facebook</a> and <a title="Twitter" href="https://twitter.com/Revelation1217" target="_blank" rel="noopener noreferrer">Twitter</a>, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal <a title="to share the gospel of Jesus Christ" href="http://themostimportantnews.com/important-thing" target="_blank" rel="noopener noreferrer">to share the gospel of Jesus Christ</a> with as many people as we possibly can.</p>
<p>The post <a rel="nofollow" href="http://theeconomiccollapseblog.com/when-society-collapses-will-the-united-states-be-one-of-the-best-places-to-be-located/">When Society Collapses, Will The United States Be One Of The Best Places To Be Located?</a> appeared first on <a rel="nofollow" href="http://theeconomiccollapseblog.com">The Economic Collapse</a>.</p>
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		<item>
		<title>Cyprus-Style Wealth Confiscation Is Now Starting To Happen All Over The Globe</title>
		<link>http://theeconomiccollapseblog.com/cyprus-style-wealth-confiscation-is-now-happening-all-over-the-globe/</link>
		<pubDate>Tue, 24 Sep 2013 20:37:19 +0000</pubDate>
		<dc:creator><![CDATA[Michael]]></dc:creator>
				<category><![CDATA[Banksters]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[Bank]]></category>
		<category><![CDATA[Bank Account]]></category>
		<category><![CDATA[Canada]]></category>
		<category><![CDATA[Cyprus]]></category>
		<category><![CDATA[Iceland]]></category>
		<category><![CDATA[Italy]]></category>
		<category><![CDATA[Michael T. Snyder]]></category>
		<category><![CDATA[Money]]></category>
		<category><![CDATA[New Zealand]]></category>
		<category><![CDATA[Pension]]></category>
		<category><![CDATA[Pension Funds]]></category>
		<category><![CDATA[Poland]]></category>
		<category><![CDATA[Retirement]]></category>
		<category><![CDATA[Retirement Fund]]></category>
		<category><![CDATA[Wealth]]></category>
		<category><![CDATA[Wealth Confiscation]]></category>

		<guid isPermaLink="false">http://theeconomiccollapseblog.com/?p=6454</guid>
		<description><![CDATA[<p>Now that &#8220;bail-ins&#8221; have become accepted practice all over the planet, no bank account and no pension fund will ever be 100% safe again.  In fact, Cyprus-style wealth confiscation is already starting to happen all around the world.  As you will read about below, private pension funds were just raided by the government in Poland, ... <a title="Cyprus-Style Wealth Confiscation Is Now Starting To Happen All Over The Globe" class="read-more" href="http://theeconomiccollapseblog.com/cyprus-style-wealth-confiscation-is-now-happening-all-over-the-globe/">Read more</a></p>
<p>The post <a rel="nofollow" href="http://theeconomiccollapseblog.com/cyprus-style-wealth-confiscation-is-now-happening-all-over-the-globe/">Cyprus-Style Wealth Confiscation Is Now Starting To Happen All Over The Globe</a> appeared first on <a rel="nofollow" href="http://theeconomiccollapseblog.com">The Economic Collapse</a>.</p>
]]></description>
				<content:encoded><![CDATA[<p><a href="http://theeconomiccollapseblog.com/archives/cyprus-style-wealth-confiscation-is-now-happening-all-over-the-globe/the-earth" rel="attachment wp-att-6456"><img class="alignleft size-thumbnail wp-image-6456" alt="The Earth" src="http://theeconomiccollapseblog.com/wp-content/uploads/2013/09/The-Earth-300x300.jpg" width="300" height="300" srcset="http://theeconomiccollapseblog.com/wp-content/uploads/2013/09/The-Earth-300x300.jpg 300w, http://theeconomiccollapseblog.com/wp-content/uploads/2013/09/The-Earth-425x425.jpg 425w, http://theeconomiccollapseblog.com/wp-content/uploads/2013/09/The-Earth-150x150.jpg 150w, http://theeconomiccollapseblog.com/wp-content/uploads/2013/09/The-Earth-400x400.jpg 400w, http://theeconomiccollapseblog.com/wp-content/uploads/2013/09/The-Earth.jpg 600w" sizes="(max-width: 300px) 100vw, 300px" /></a>Now that &#8220;bail-ins&#8221; have become accepted practice all over the planet, no bank account and no pension fund will ever be 100% safe again.  In fact, Cyprus-style wealth confiscation is already starting to happen all around the world.  As you will read about below, private pension funds were just raided by the government in Poland, and a &#8220;bail-in&#8221; is being organized for one of the largest banks in Italy.  Unfortunately, this is just the beginning.  The precedent that was set in Cyprus is being used as a template for establishing bail-in procedures in New Zealand, Canada and all over Europe.  It is only a matter of time before we see this exact same type of thing happen in the United States as well.  From now on, anyone that keeps a large amount of money in any single bank account or retirement fund is being incredibly foolish.</p>
<p>Let&#8217;s take a look at a few of the examples of how Cyprus-style wealth confiscation is now moving forward all over the globe&#8230;</p>
<p><strong>Poland</strong></p>
<p>For years, there have been rumors that someday the U.S. government would raid private pension funds.</p>
<p>Well, in Poland <strong>it just happened</strong>.</p>
<p>According to <a href="http://www.reuters.com/article/2013/09/04/poland-pensions-idUSL6N0H02UV20130904">Reuters</a>, private pension funds were raided in order to reduce the size of the government debt&#8230;</p>
<blockquote><p><span id="articleText">Poland said on Wednesday it will transfer to the state many of the assets held by private pension funds, slashing public debt but putting in doubt the future of the multi-billion-euro funds, many of them foreign-owned.</span></p></blockquote>
<p>The Polish government is doing the best that it can to make this sound like some sort of complicated legal maneuver, but the truth is that what they have done is stolen private assets without giving any compensation in return&#8230;</p>
<blockquote><p>The Polish pension funds&#8217; organisation said the changes may be unconstitutional because the government <strong>is taking private assets away from them without offering any compensation</strong>.</p>
<p>Announcing the long-awaited overhaul of state-guaranteed pensions, Prime Minister Donald Tusk said private funds within the state-guaranteed system would have their bond holdings transferred to a state pension vehicle, but keep their equity holdings.</p>
<p>He said that what remained in citizens&#8217; pension pots in the private funds will be gradually transferred into the state vehicle over the last 10 years before savers hit retirement age.</p></blockquote>
<p><strong>Iceland</strong></p>
<p>For years, Iceland has been applauded for how they handled the last financial crisis.  But now it is being proposed that the &#8220;blanket guarantee&#8221; that currently applies to all bank accounts should <a href="http://www.zerohedge.com/print/479265">be reduced to 100,000 euros</a>.  Will this open the door for &#8220;haircuts&#8221; to be applied to bank account balances above that amount?&#8230;</p>
<blockquote><p>Following the crisis in October 2008, Iceland&#8217;s government declared all deposits in domestic financial institutions were &#8216;blanket&#8217; guaranteed &#8211; an Emergency Act that was reafrmed twice since. However, according to RUV, the finance minister is proposing to <strong>restrict this guarantee to only deposits less-than-EUR100,000</strong>. While some might see the removal of an &#8217;emergency&#8217; measure as a positive, it is of course <strong>sadly reminiscent of the European Union &#8220;template&#8221; to haircut large depositors</strong>. This is coincidental (threatening) timing given the current stagnation of talks between Iceland bank creditors and the government over haircuts and lifting capital controls &#8211; which have restricted the outflows of around $8 billion.</p></blockquote>
<p><strong>Europe</strong></p>
<p>European finance ministers have agreed to a plan that would make &#8220;bail-ins&#8221; the standard procedure for rescuing &#8220;too big to fail&#8221; banks in the future.  The following is how <a title="CNN" href="http://money.cnn.com/2013/06/27/news/world/eu-bank-rescue/index.html?iid=HP_River" target="_blank">CNN</a> described this plan&#8230;</p>
<blockquote><p>European Union finance ministers approved a plan Thursday for dealing with future bank bailouts, forcing bondholders and shareholders to take the hit for bank rescues ahead of taxpayers.</p>
<p>The new framework requires bondholders, shareholders and large depositors with over 100,000 euros to be first to suffer losses when banks fail. Depositors with less than 100,000 euros will be protected. Taxpayer funds would be used only as a last resort.</p></blockquote>
<p>What this means is that if you have over 100,000 euros in a bank account in Europe, you could lose every single bit of the unprotected amount if your bank collapses.</p>
<p><strong>Italy</strong></p>
<p>As <a href="http://www.zerohedge.com/news/2013-09-23/it-begins-monte-paschi-bails-bondholders-halts-650-million-coupon-payments">Zero Hedge</a> reported on Tuesday, a &#8220;bail-in&#8221; is now being organized for the oldest bank in Italy&#8230;</p>
<blockquote><p>Recall that three weeks ago we warned that &#8220;<a href="http://www.zerohedge.com/news/2013-09-09/monti-paschi-faces-bail-capital-needs-point-nationalization">Monti Paschi Faces Bail-In As Capital Needs Point To Nationalization</a>&#8221; although we left open the question of &#8220;who will get the haircut including senior bondholders and depositors&#8230;. given the small size of sub-debt in the capital structures.&#8221; Today, as many expected on the day following the German elections, the dominos are finally starting to wobble, and as we predicted, Monte Paschi, Italy&#8217;s oldest and according to many, most insolvent bank, quietly commenced a bondholder &#8220;bail in&#8221; after it said that it suspended interest payments on three hybrid notes following demands by European authorities that bondholders contribute to the restructuring of the bailed out Italian lender. Remember what Diesel-BOOM said about Cyprus &#8211; <em>that it is a template</em>? He wasn&#8217;t joking.</p>
<p>As <a href="http://www.bloomberg.com/news/2013-09-23/monte-paschi-halts-coupon-payments-on-three-subordinated-notes.html">Bloomberg reports</a>, Monte Paschi &#8220;said in a statement that it won’t pay interest on about 481 million euros ($650 million) of outstanding hybrid notes issued through MPS Capital Trust II and Antonveneta Capital Trusts I and II.&#8221; Why these notes? Because hybrid bondholders have zero protections and zero recourse. &#8220;<strong>Under the terms of the undated notes, the Siena, Italy-based lender is allowed to suspend interest without defaulting and doesn’t have to make up the missed coupons when payments resume.</strong>&#8221; Then again hybrids, to quote the Dutchman, are just the template for the balance of the bank&#8217;s balance sheet.</p>
<p>Why is this happening now? Simple: the Merkel reelection is in the bag, and the EURUSD is too high (recall <a href="http://www.zerohedge.com/news/2013-09-19/european-second-half-recovery-indefinitely-postponed-adidas-cuts-forecast">Adidas&#8217; laments from last week</a>). Furthermore, if the ECB proceeds with another LTRO as many believe it will, it will force the EURUSD even higher, surging from even more unwanted liquidity. So what to do? Why stage a small, contained crisis of course. Such as a bail in by a major Italian bank. The good news for now is that depositors are untouched. Unfortunately, with depositor cash on the wrong end of the (un)secured liability continuum it is only a matter of time before those with uninsured deposits share some of the Cypriot pain. After all, in the brave New Normal insolvent world, &#8220;it is only fair.&#8221;</p></blockquote>
<p>Fortunately, it does not appear that this particular bail-in will hit private bank accounts (at least for now), but it does show that European officials are very serious about applying bail-in procedures when a major bank fails.</p>
<p><strong>New Zealand</strong></p>
<p>The New Zealand government has been discussing implementing a &#8220;bail-in&#8221; system to deal with any future major bank failures.  The following comes <a href="http://www.voxy.co.nz/politics/national-planning-cyprus-style-solution-greens/5/150410">from a New Zealand news source</a>&#8230;</p>
<blockquote><p>The National Government are pushing a Cyprus-style solution to bank failure in New Zealand which will see <strong>small depositors lose some of their savings to fund big bank bailouts</strong>, the Green Party said today.</p>
<p>Open Bank Resolution (OBR) is Finance Minister Bill English’s favoured option dealing with a major bank failure. If a bank fails under OBR, all depositors will have their savings reduced overnight to fund the bank’s bail out.</p>
<p>&#8220;Bill English is proposing a <strong>Cyprus-style solution</strong> for managing bank failure here in New Zealand &#8211; a solution that will see small depositors lose some of their savings to fund big bank bailouts,&#8221; said Green Party Co-leader Dr Russel Norman.</p>
<p>&#8220;The Reserve Bank is in the final stages of implementing a system of managing bank failure called Open Bank Resolution. The scheme will put all bank depositors on the hook for bailing out their bank.</p>
<p>&#8220;Depositors will overnight have their savings shaved by the amount needed to keep the bank afloat.&#8221;</p></blockquote>
<p><strong>Canada</strong></p>
<p>Incredibly, even Canada is moving toward adopting these &#8220;bank bail-ins&#8221;.  In a <a href="http://theeconomiccollapseblog.com/archives/cyprus-style-bank-account-confiscation-is-in-the-new-canadian-government-budget">previous article</a>, I explained that &#8220;bail-ins&#8221; were even part of the new Canadian government budget&#8230;</p>
<blockquote><p>Cyprus-style &#8220;bail-ins&#8221; are actually proposed in the new Canadian government budget.  When I first heard about this I was quite skeptical, so I went and looked it up for myself.  And guess what?  It is right there in black and white on <a title="pages 144 and 145" href="http://www.budget.gc.ca/2013/doc/plan/budget2013-eng.pdf" target="_blank">pages 144 and 145</a> of &#8220;Economic Action Plan 2013&#8221; which the Harper government has already submitted to the House of Commons.  This new budget actually proposes &#8220;to implement a &#8216;bail-in&#8217; regime for systemically important banks&#8221; in Canada.  &#8220;Economic Action Plan 2013&#8221; was submitted <a title="on March 21st" href="http://www.actionplan.gc.ca/en/news/harper-government-announces-date-economic-action" target="_blank">on March 21st</a>, which means that this &#8220;bail-in regime&#8221; was likely being planned long before the crisis in Cyprus ever erupted.</p></blockquote>
<p>So what does all of this mean for us?</p>
<p>It means that the governments of the world are eyeing <strong>our money</strong> as part of the solution to any future failures of major banks.</p>
<p>As a result, there is no longer any truly &#8220;safe&#8221; place to put your money.</p>
<p>One of the best ways to protect yourself is to spread your money around.  In other words, don&#8217;t put all of your eggs in one basket.</p>
<p>If you have your money a bunch of different places, it is going to be much harder for the government to grab it all.</p>
<p>But if you don&#8217;t listen to the warnings and you continue to keep all of your wealth in one giant pile somewhere, don&#8217;t be surprised when you get wiped out in a single moment someday.</p>
<p>The post <a rel="nofollow" href="http://theeconomiccollapseblog.com/cyprus-style-wealth-confiscation-is-now-happening-all-over-the-globe/">Cyprus-Style Wealth Confiscation Is Now Starting To Happen All Over The Globe</a> appeared first on <a rel="nofollow" href="http://theeconomiccollapseblog.com">The Economic Collapse</a>.</p>
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