Jim Sinclair: Bail-ins Will Happen Here Without Any Doubt, Will Be Remembered As The “Great Leveling”

bail-inJim Sinclair has sent an email alert to subscribers tonight, warning that legislation enacted by the Fed, Bank of Canada, and BOE (as broken in April by SD) means that bail-ins are coming to North America without any doubt, and will be remembered as the “Great Leveling”.
Sinclair states that after examining the legislation, utilizing multiple banks to protect your wealth (expecting to receive multiple maximum FDIC pay-outs in the event of bank failures will fail, and your assets will be Cypruss’d. 

Sinclair’s full alert is below:

 

Gold Eagles As Low As $59.99 Over Spot At SDBullion!

 

From Jim Sinclair:

Bail-ins are coming to North America without any doubt. This will be remembered as the “Great Leveling” after the period of the “Great Flushing (Lehman Brothers)
Not only can it happen here, but it will happen here. It stands on legal grounds by legal precedent both in the US, Canada and the UK.

 

The FDIC, who contributed to the 2012 Bail-In Thesis white paper, makes no mention of insured account levels. The game of having multiple banks expecting to have multiple FDIC insurances, in my opinion, will fail

 

Gold is for Savings and fiat currency for transactions
It Can Happen Here: The Confiscation Scheme Planned for US and UK Depositors 

Posted on March 28, 2013 by Ellen Brown

 

Confiscating the customer deposits in Cyprus banks, it seems, was not a one-off, desperate idea of a few Eurozone “troika” officials scrambling to salvage their balance sheets. A joint paper by the US Federal Deposit Insurance Corporation and the Bank of England dated December 10, 2012, shows that these plans have been long in the making; that they originated with the G20 Financial Stability Board in Basel, Switzerland (discussed earlier here); and that the result will be to deliver clear title to the banks of depositor funds.  

 

New Zealand has a similar directive, discussed in my last article here, indicating that this isn’t just an emergency measure for troubled Eurozone countries. New Zealand’s Voxy reported on March 19th:

 

The National Government [is] pushing a Cyprus-style solution to bank failure in New Zealand which will see small depositors lose some of their savings to fund big bank bailouts . . . .

 

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.

 

Can They Do That?

 

Although few depositors realize it, legally the bank owns the depositor’s funds as soon as they are put in the bank. Our money becomes the bank’s, and we become unsecured creditors holding IOUs or promises to pay. (See here and here.) But until now the bank has been obligated to pay the money back on demand in the form of cash. Under the FDIC-BOE plan, our IOUs will be converted into “bank equity.”  The bank will get the money and we will get stock in the bank. With any luck we may be able to sell the stock to someone else, but when and at what price? Most people keep a deposit account so they can have ready cash to pay the bills.

 

 

More… 

 

 

Gold Eagles As Low As $59.99 Over Spot At SDBullion!

Comments

  1. Avatar of IndenturedServant says:

    As previously promised, I have not read any more articles by Mr. Sinclair but the numbers of headlines I read here and elsewhere has me wondering if this guy ever shuts up? He talks more than all NFL commentators and QVC salespeople do combined!
    I_S

  2. Bail-ins are coming to North America without any doubt. This will be remembered as the “Great Leveling” after the period of the “Great Flushing (Lehman Brothers)
    Not only can it happen here, but it will happen here. It stands on legal grounds by legal precedent both in the US, Canada and the UK.
     The FDIC, who contributed to the 2012 Bail-In Thesis white paper, makes no mention of insured account levels. The game of having multiple banks expecting to have multiple FDIC insurances, in my opinion, will fail
     Gold is for Savings and fiat currency for transactions
    It Can Happen Here: The Confiscation Scheme Planned for US and UK Depositors

     
    These are the only words spoken by Jim and the rest is old news from March 28th by someone I haven’t even heard about what a waste of bloody time reading that shit. Is he running out of worthy news to post?

  3. Sorry, I love JS, but bail-ins are not coming to the US.  
    It makes no sense, why create fininical chaos to save the banking system, when it is much easier just to print the money.
    If Jim is correct, bail-ins are deflationary, and are bearish for gold and silver.  We all expected that the Fed would print trillions to bail out the banks, not take peoples desposit accounts.
    Either way, JS is wrong on this subject, the US is not Cyprus.

    • I get your point @zman, but I think it will happen here, but only after a “giving up” to the inevitability of the Deflation Tsunami. 
      Hyperinflation to a Crash may not be their end game, but an enslavement to crushing debt like Japan’s Lost Decade may be. 
      Japan is actually into their 3rd “lost decade”  :(

    • “Japan is actually into their 3rd “lost decade”  :(”
       
      Indeed they are.  To celebrate the complete failure of their 2 decades of economic policies, they have now decided to do even more of it.  This is fully akin to someone hitting their thumb with a hammer and then attempting to cure it by hitting it over and over again… and harder too.  When a sane person does something that clearly does not work, they switch to something else that might work.  Not the Japanese, though.  When they do something and it fails spectacularly, they gird their loins for more of the same.  Unfortunately for them, this IS the pattern known as a “death spiral”.  Once it goes far enough, of course, it becomes irreversible… and fatal. 

    • @Ed_B
       
      Yep! Take it from an ex-semi-pro mechanic … I LONG ago took to holding center punches and chisels with locking pliers!

    • I sure will, Pat.  As an amateur tinkerer, I have done many projects around the house, yard, and garage and there is no substitute for a little caution when hitting steel with steel… especially when one is made from cheap steel, such as a Chinese-made fence post.  A good gripper AND safety goggles are mandatory.

  4. In all fairness to JS, he isn’t the only big name that’s saying this. This idea is not his invention, it’s a reasonable belief held by many.
    However, before such a thing occurs, we will likely see retirement accounts looted, though it certainly won’t be presented as a looting when the feds (essentially) nationalize them. And like everything else they get their claws into, they will first paint a smiley face on it. And most won’t even know what hit them.
    By the time the bail-ins occur, anyone even remotely paying attention will likely be hip to the game, especially if THEIR retirement accounts already went south.

  5. Bail-ins would cause a run on the banks, and destroy the banking system for decades if not longer, who would ever use a bank again?
    The goal is to keep the banking system together, and keep faith in the safety of the deposit. Bail-ins kill that goal.
    It is much easier to just print the money and devalue the currency, the common citizen can deal with that fact, they will not tolorate bail-ins, it will turn into social chaos.
     

  6. “The great leveling” sounds like the end of Fight Club (but we know the super rich will keep their “credits” and everyone else will lose theirs). Even if we own gold/silver, these people will take it and everything else from us if we don’t rise up and take the power back. Stacking PMs and hiding will only get us so far and hopefully buy some more time. For everyone who has yet to discover Muse, here’s some lyrics to enjoy on your saturday night :)
     
    Paranoia is in bloom,
    The PR, transmissions will resume
    They’ll try to, push drugs that keep us all dumbed down
    And hope that, we will never see the truth around
    (So come on)

    Another promise, another seed
    Another, packaged lie to keep us trapped in greed
    And all the, green belts wrapped around our minds
    And endless red tape to keep the truth confined
    (So come on)

    They will not force us
    They will stop degrading us
    They will not control us
    We will be victorious
    So come on

    Interchanging mind control
    Come let the, revolution takes its toll
    If you could, flick the switch and open your third eye
    You’d see that, we should never be afraid to die
    (So come on)

    Rise up and take the power back
    It’s time the, fat cats had a heart attack
    You know that, their time’s coming to an end
    We have to, unify and watch our flag ascend
    (So come on)

    They will not force us
    They will stop degrading us
    They will not control us
    We will be victorious
    So come on
     

  7. RGR  first off, where did you get the combi bar.  We need to talk.   That’s sweet.  Little bits of gold.  I’d waller for a dollar for one of those.
    Once the Fed’s string of luck in selling their ZIRP snake oil runs out— and that’ll probably happen when China, Russia and other BRICS tell us ‘no mas’, we’ll see hypervelocity printing to take care of our business of deficit funding, the refi of the $4 trillion in refi of UST notes coming due, a few extra trillion in bailout funds for the Euro Banks (well over $1 trillion flowed there this year only to disappear like water in a desert sand pile), a few more trillion to shore up the balance sheets of our TBTF banks when their capital bases are depleted by derivative and Eurobond losses, B of J collapse —- then the full frontal assault against private pension plans will take place.  I thought it would be last year.  Spain, Argentina and a few other contries beat us to it.  Heck, it might not happen for another 1-2 years.
    But this Cyprussing of our accounts could be  just another variation on the failure of FDIC to protect our accounts. That house of cards couldn’t stop one regional bank’s implosion.  So whether it’s a failure to honor the FDIC coverage for any account no matter what size, or just the confiscation of the depositors currency, it will happen.
    I’d say it was a mathematical certainty if I was a math whiz. Common sense also tells us this can and will probably happen.  We may be the last nation to eat our own but we will most certainly do so if the extremis of FIAT failure hits our shores.  One thing that does seem certain is that other central and private banks, private citizens and corporations are shifting trillions of dollars to our shores as their funds are herded to the US as the last safe haven, a haven safe from inflation, bond implosions, and outright theft by their own central banks. This kites our stock market, juices the real estate markets on both coast by trillions in equity increases, sustains the crap fiesta of our treasury sales and boosts the deposits of the banks by additional hundreds of billions. The herding is done by and on behalf of Ben Bernanke and others who know this is one of the surest ways to continue the illusion of solvency and liquidity.
    This country can stay liquid much longer than the rest of the  world can remain solvent.
    This rounding up of the herd is not something well recognized by those overseas.  We  readers clearly see what is going on but we don’t have the normalcy bias of the foreign money people. They still think, in their delusional ways, that the US is the place of refuge for their funds.  Little do they know that will be  a fatal error as they are trapped in a tar baby glue of Federal fund NIRP and confiscation of their funds by ways both fair and foul. Most still trust us and believe they are in good hands if they park their capital in this country.  I doubt that their confidence will be rewarded in the long pull.

    • @AG…
       
      Check this out:  http://www.providentmetals.com/50-x-1-gram-gold-bullion-combibar-9999-fine-gold.html
       
      The US is definitely being presented to the people of the world as a monetary “safe haven”.  In some ways, it probably is, given that in much of the world, governments are far more rapacious and aggressive at fleecing their citizens.  This, however, could well be an illusion that is indeed created to “herd” the wealth of these folks into the chutes of the slaughterhouse.  Only time will tell if this will occur, though.  Under normal circumstances, I would say that it will not.  However, these are most definitely not “normal” times.  Governments, like any other critter, will do anything in its power to continue its existence, however illegal, immoral, or unethical it might be.  The bottom line is likely to be just how threatened the Gov considers itself to be.
       
      One VERY interesting aspect of this is that the US Gov is not presenting PM ownership to its citizens as a method of protecting their wealth in an economic crisis.  No, they are still in the paper charade mode and are telling people around the world that the USA is THE place where money is actually safe.  Well, that money is certainly safe from foreign governments but what about our own?  IMHO, governments, wherever they are located, seem to have much more in common with each other than they do with any of us.  There really are only 2 classes left in the world… rulers and ruled.  Just remember the newest version of The Golden Rule:  They who have the gold, rule.  The Russians and the Chinese know this for sure.  So do the Turks and a few others.  Here in the US, gold is still that much-maligned “barbarous relic” that “pays no interest or dividends”.  In spite of all this name-calling and a concerted propaganda effort to convince all Americans not to own any kind of PMs, the central banks of the world are buying gold hand over fist.  When words and actions are polar opposites, one really must question their motives and the accuracy of their claims.

    • Same Place I got these:
      Online Pix lol

    • and these:

    • Wow… GREAT pix, RGR!  That 9 mm looks pretty puny compared to that pair of .44 mags.  Lol… or, are those .50s?  :-D
       

    • 38 Supers, at Least! 
      Remember, the LETTER trumps the Number… 
       
      now. my FAVE from that site…
      Heat Shield! (hand guards?) lol

    • “now. my FAVE from that site…
      Heat Shield! (hand guards?) lol”
       
      Now that is truly excellent.  Best holster I’ve ever seen!  lol
       

  8. PS   The Fed and the TBTF Eurobanks are probably largely one and the same so they are in cahoots.  It’s the smaller  banks and others who don’t see this clearly if they even see it at all.  When Bankia was bailed in by the government and it stock was offered as a return on this confiscation, the bank’s stock just dropped 90% in value in the last few days. This means that even a depositor bail-in that results in bank stock offered as compensation is just a ruse to disguise complete and total theft.  Bank stock of this sort is not fit to line your parakeet cage.

    • There is a Great Lie being told over and over again in the world and most governments and ALL banks seem to be willing participants.  The lie is that “the banks need to be recapitalized”.  This is blatantly untrue.  The banks that require more capital do so because they have behaved in incredibly stupid ways and lost a lot of their money.  When they get sufficiently desperate about this, they seek more money to squander from their national governments.  If that fails, and it rarely does, they then seek to steal that which does not belong to them but to their depositors.  But none of this “fresh capital” is actually solving the problem of incompetent bank management.  No matter how much capital these jackals are thrown, they will always find new and better ways of pissing it away, only to soon end up back in the same position as they were in before being “rescued”.  No, the real answer is for the governments to let the banksters know that this cycle of banker incompetence and government support of it is over.  When the next bank fails, the Gov should bail out the depositors and let the bank officers and shareholders eat the results of their own mistakes.  After a few banks have gone through bankruptcy, which exists solely for the purpose of selling off the assets and paying the creditors of failed businesses and individuals, other banks WILL take note of what happens to those who handle money stupidly.  This will be a powerful force that will cause bankers to be much more careful in the future.  This will happen because there IS one thing that bankers fear more than reduced earnings and that is the loss of their jobs and status.  If failed bankers became pariahs who could no longer find work in the financial arena, THAT would refresh their commitment to conservative banking principles and end the banks-as-casinos method of operation.

    • @AGXIIK
       
      You just explained the central bank ‘exit strategy’ in a nut-shell. The current banknotes MUST be devalued (and in so doing, reduce the digital ‘float’ of them), so the remaining virtual volume of account is left ‘enhanced’ … lower number of banknote units = higher value of residual ‘float’. The ‘trick’ is to have non-elite shlubs holding the bag in the end. The equity markets have ALWAYS been the principal method of pulling off this ‘disappearance act’. They coax folks into stocks while pumping them up to dizzying ‘heights’ and suddenly one night ‘pull the plug’. POOF … billions and trillions of imaginary digital banknotes evaporate into thin air … exactly as they were created in the first place. The land scams are pretty much the same structural concept, except that land has an intrinsic floor value; but STOCKS, oh boy, THEY can go to NOTHING!

  9. Well yes of course they can print as much money as they want to keep the bail out process going (till a loss of confidence in the currencies from cost push inflation or some black swan trigger event) but thats not the name of their game. Its about power and control through debt,mind,health, spiritual, enslavement. The test run in Cyprus was just another stage of multiple  tests of the publics gulibility to allow the power elite to try to take us into a global dictatorship.When Obama got on tv to announce that 800 billion (to begin with) was needed to bail out the banking system or the world financial system would collapse who did everyone think would pay for this bail out? Some rich philanthropic kind hearted entrepenuer. That was an indirect bail in and the mainstream public just took it on the nose like they always have (so far).
    The power elite want the system to crash so they can try to instigate a fascist one world government. Look at history and what happens time and again when a system collapses and the masses become so desperate they will except a heavy handed ruler to “fix” things(Napoleons France, Nazi Germany to name two instances).
     They are not supid, and well aware what all this money printing will do as it has done to every other fiat currency system in the past. And I doubt they are going to try to take precious metals from the tiny percentage of public smart enough to see the shit storm coming when they are and have been stacking all along too.
    Ok time for a beer its Sunday arvo here in Australia.  

    • “And I doubt they are going to try to take precious metals from the tiny percentage of public smart enough to see the shit storm coming when they are and have been stacking all along too.”
       
      I agree that this would not be an intelligent move on their part, but… the examples of Fed and Gov moves that are pretty stupid are legion.  If a large part of all these machinations is to gather wealth from those who have it and distribute same to themselves, the concept them becomes WHY NOT and not WHY – confiscate silver, gold, jewels, and anything else that attracts their sticky fingers.  Some would argue that doing this is too difficult but it really isn’t.  All they need do is grab the customer lists from the, oh, say, top 20 or so precious metals sellers and go directly to the buyers to demand the goodies, at gun-point, if necessary. It is definitely NOT necessary to do any house-to-house searching.  I agree that would not be profitable or effective.  But in knowing exactly where to look, well, that is another matter entirely.  If this could be wrapped in the flag and made into a propaganda ploy, all the better.  I can just see it now, “Support your country!  Turn in your precious metals to fund the continued existence of our government!  Keep gold out of the hands of the profiteers!”.  Yada, yada…
       

  10. It will happen here, I won’t be affected much if at all because I never keep anything beyond bill money in the bank

  11. “Gold is for Savings and fiat currency for transactions …” Posted on March 28, 2013 by Ellen Brown

    Yeah, right. Ellen Brown, Queen of Government-Paper, who tutors cute litte girls in her propaganda rhetoric, then makes heavily promoted YouTube vidios of the poor duped kids proped up at ‘economic conferences’ for so much advertising fodder. “Oh, look! She’s SO well spoken! She’s SO … smart!” (NOT)

    Oh, and since New Zealand came up in the Treet, it reminded me … I was doing a little research on private business enterprises masking as ‘governments’ and discovered that the Commonwealth of Austrailia has a CUSIP number AND, MOST curiously … a Federal Employer’s Identification Number … assigned to it! I’m left musing with the specter of all that gold shipped from the United States as possibly having bought the ‘Colony of Austrailia’ from the British Crown!

    • “I’m left musing with the specter of all that gold shipped from the United States as possibly having bought the ‘Colony of Austrailia’ from the British Crown!”

       
      Well, if so, Pat, here we finally have something worthwhile on which to spend US tax dollars.  Not since Seward’s Folly has such a spectacular purchase been made and ridiculed.  Spend a few mil on Alaska and then reap many billions in gold, oil and gas, furs, timber, fish, etc.

    •  
       
      Ed, I can’t remember a time when I DIDN’T romanticize Aussies as ‘cowboys down under’ … every bit as quintessentially ‘American’ (in its purest, original sense) as ‘Northwest Territorial’ fur trappers, merely trans-migrated ‘in the Outback’.
       
      So, as you’re implying, I certainly wouldn’t chafe at the prospect of an Australia earmarked for future States of our Union. Putting ‘the other guy’s shoes on’, however … given our country’s present condition of demoralization ABYSMALLY FAR beneath the TRUE ‘American Ideal’ which they’d probably otherwise likely gravitate toward, I’m afraid that Aussies might not be keen on the notion a single bit.

  12. Pat  that’s some very interesting info. We’re fortunate to have your insights on SD. 
    Australia;  a colony founded by the Brits to house criminals now owned by criminals?  No wonder the Aussies were disarmed and we have Marines stationed in Australia.  The plot thinkens and sickens. 
    What’s doesn’t the US government own.  Our souls? 
    With your intel it sppears that our birth certificates and social insecurity numbers are close cousins to the German death camp tattoos–and IMO it will not be long before we’ll info-chipped with some sort of  infrared MICR number or bar code installed at birth then on and up from there to the kiddies and then the parents.  The government that’s ‘wealthy’ enough to give you everything is powerful enough to take it away.
      The new national ID card is reputed to be a biometric system.  I wonder how one can  carve the invisible ink tattoo off one’s body?  
    Mary B has it right.  Poquito dinero in el banco is a good stopgap to shed a goodly remnant of FIAT slavery. Self reliance is one of the best means to keep Uncle Sam out of your knickers.  The government that disarms it’s people is a government that can do amything to the people once they are stripped of their rights of self defense.  The Second Amendment is not about hunting and never was.
     Ed hits it too.  The government is like a helicopter parent with bad habits.  “Don’t do as I do, do as I say do’.   Faint echoes of Mom’s voice in that one.  The dupes and stoops are easily herded when the evolution of  homo sap proceeds downward to sheepdom.  What do the sheeple say when the government check arrived?  Not ba-a-a-a-a-a-a-d.  I like being fleeced.
    Welcome to Hotel Bond Fiasco.  FIAT checks in but it never checks out.
    The greatest trick the Devil ever pulled  was convincing  the world he was NOT the Federal Reserve Bank
    Now as for combi bars. 
    Those would be a nice additional to sew into the lining of the clothes as we escape the gulag .  I’d trade a few dubloons for some combi bars.  With some duck tape and a few combi bars I could spackle together a golden cod piece.  Look out Louis the XVII, mine’s bigger than yours.
     

    • @AGXIIK
       
      If you got a nose-bleed up at that height, maybe you ought to pull out a roll of gauze for this next ascent … Social(ist) Security is a facility of the British Crown. Check it out …
       
      http://www.apfn.org/apfn/queen.htm
       
      Remember, that was introduced by F.D. Ruse-a-veldt, whose close family relations were members of the British government.

    • “…and IMO it will not be long before we’ll info-chipped with some sort of  infrared MICR number or bar code installed at birth then on and up from there to the kiddies and then the parents.”
       
      Over THEIR dead bodies, AG.  I have no problem with things like this being offered as a choice, such as for child or dead body ID when great damage has been done and the body of a loved one is unrecognizable, but will fight to the death the idea that it becomes mandatory.
       
      “With some duck tape and a few combi bars I could spackle together a golden cod piece.  Look out Louis the XVII, mine’s bigger than yours.”
       
      LOL!  And a LOT more lively, too, I’ll wager!  ;-)
       

    • @Ed_b That’s not how they work. They never make it mandatory, but it will be so inconvenient/difficult not to have it that everyone will get it anyways. Not getting chipped will be like joining the Amish people when everyone else is using it.  That’s how I see it happening.

    • @Widget
       
      I’m sure that you are right in many ways but the current regime in power definitely does not shy away from making whatever they want mandatory when it suits them.  Check out the 2700+ page abortion known as “The Affordable Care Act”, aka “Obama Care”.  It is loaded to the gills with mandatory crap.  In fact, a number of unions with better health plans than O-C provides are royally PO’d about this and are making no secret of it.

  13. Pat  I’ll read up on this.  Social Security and the Queen 
    Since I was born in Canada and in the last 20 years paid a boat load of taxes in capital gains, none of which give me some of the Loonie bux penion plan funds, I guess my Social Security checks next year will stick it to queenie. 
    As a Canadian and US citizen I have to assume I’m being screwed twice.   Didn’t I read somewhere that the US, as a corporation , is still a subsidiary of England. And there’s the fact that the British Crown is still tied closely to the German Royal families.  Windsor is not the Queen’s oroginal family name.  It was something like Saxe-Coberg and Gotha.  Montbatten’s original name was Battenberg. 
    I read this on a sign at a Walmart urinal.  I kid you not. The puck had a picture of —–never mind.   The next stall over informed me that drinking ice water would burn 17 calories.  The heftiness of the average Walmartian let’s me know this is good advice  The House of Windsor, not so much.  Maybe that is the Walton’s way of telling us we are all owned by the Queen.  Stay Calm, Shop on.
    RGR—you are having way too much fun.  Girls and guns.   What’s next?  Chin’s got a pair up on ya!

    • Chin’s got NOTHING! 
      Well, one pair of Digital Quintuple D’s lol

    • @AGXIIK
       
      I looked this up and you are right.  Here is an excerpt and a URL for a Wikipedia reference:
       
      http://en.wikipedia.org/wiki/Mountbatten
      Prince Philip of Greece and Denmark, the consort of now-Queen Elizabeth II, adopted the surname of Mountbatten from his mother’s family in 1947, although he is a member of the House of Schleswig-Holstein-Sonderburg-Glücksburg by patrilineal descent.
       
      The entire article is well worth reading.  None of this is terribly surprising.  British royalty is strongly related to both German and French royalty.  In fact, looking back in history shows that the Anglo-Saxons, Frisians, Jutes, and Picts populated the British Isles, along with the Celts.  Later, the French arrived via William the Conqueror. 

  14. The Federal Reserve’s new motto
    MOLON FIAT LABE
     
    Got phyzz?
    Try and git it!  Get lead

    • “Got phyzz?”
       
      Check… and am getting more shortly!
       
      Try and git it!  Get lead.
       
      Do or do not.  There is no try!  Get lead?  Yes, thanks to a little… er, a LOT… of help from my friends!  :-D
       

    • Stacking LEAD and BRASS, 
      oh, since, let’s say… Nov 2012? :D

    • Good combo, RGR, and they may be THE most precious of metal combinations.  

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