Are Greek Banks Preparing to Seize Depositor Funds in a "Bail-in?"

There is a disagreement amongst the establishment press outlets regarding what will happen in Greece to resolve that nation’s banking/debt crisis. The first link examines a report from the Financial Times that Greek depositors could be about to lose a large percentage of their insured bank deposits in a “bail-in” to rescue Greek banks from collapse. The report, if true, would result in Greek depositors losing a large percentage of what money they still have in Greek banks. The Financial Times article is included as the second link, but non-subscribers may or may not be able to access it. The article compares the Greek situation to a “bail-in” which did happen to bank depositors in Cyprus.

However, there are two sides to this story. Please read the entire first link which includes a denial, cited in Bloomberg News, by the Greek Financial Minister that any such plan is in the offing. The third link, from Forbes, also argues that such a bank “bail-in” in Greece would accomplish nothing to ensure the financial health of Greece or its banks. It also makes the important distinction that the “bail-in” which did occur in Cyprus pertained to uninsured deposits, while the bail-in rumored in the Financial Times story pertains to insured Greek deposits. Forbes further raises the possibility the Financial Times story was timed to try and influence the outcome of the Greek referendum on Sunday.

When the establishment media’s outlets run opposing articles regarding the very important Greek referendum issue, what are we commoners to make of this? I think this is a symptom of tremendous stresses building up behind the scenes in the global financial world. To me, it is a further indication that we are drawing ever nearer to a major crisis within the current global money system as we know it. Financial industry insiders stated a meltdown of the global financial system almost occurred in 2008 and the biblical prophecy in Revelation 17-18 says such an event is inevitable. Greece is now the focus of a national financial crisis; however, media reports indicate the US Commonwealth of Puerto Rico has accumulated debts which are massive and “not payable” and which need restructuring or a possible bankruptcy to resolve (fourth link and fifth link). Indeed, some media reports assert Puerto Rico is on the verge of a “death spiral” in its finances. While not a US State, Puerto Rico is a dependency of the USA so does this mean the US taxpayers will end up bailing out Puerto Rico’s unpayable debts? Someone better call the US Federal Reserve Board. They may need to create a few more billions of fantasy US dollars out of thin air to bail out Puerto Rico’s debts.

There is no question that the issue of exorbitant global debt is weighing ever-more heavily on nations and entities of all kinds. The world is awash in far too much debt. The problem is certainly worsening, and the establishment media running contradictory stories about pressing financial issues is symptomatic of this worsening state of financial affairs. We are, I think, seeing evidence of colossal stresses building up within the global financial system as competing narratives are being aired in the global media. If you have not done so, I urge readers to review my articles, The Babylonian Origin of the Modern Banking System and Is Babylon the Great about to Fall…Ushering in a Global Beast System? You can be sure the information in the first article is not generally taught in the school system, and while it was written after the 2008 near-collapse of the global financial system, the second article is just as timely today.

Revelation 17-18 prophesies that a cryptic alliance of “seven heads and ten horns” will overthrow the current financial system and replace it with a new global system which will be called the “beast” system in the book of Revelation’s prophecy. The growing list of serious political and financial crises in the world indicates to me that we may be witnessing a few of the birth pangs of the new global system trying to come into existence. It is my view that there is already a titanic struggle going on behind the scenes between the two rival political/financial alliances of “Babylon the Great” and the new “Beast” system’s alliance. That we are beginning to witness competing narratives emerging in the establishment media about critical financial issues further reinforces this view.

My thanks to a friend for alerting me to the first two links.

Are Greek Banks Preparing to Seize Depositor Funds in a “Bail-in?”

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