Global debt markets are BREAKING – pension collapse in England, govt. debt FAIL in Japan, while some bonds see 75% losses so far in 2022

The Propitiation for our sins!

Puerto Rico in default on massive debt

Greece does not have the money to make June IMF repayment: interior minister

A Greek national flag flutters next to a statue of ancient Greek goddess Athena, in Athens May 21, 2015. REUTERS/Alkis Konstantinidis

Greece warns euro could collapse like house of cards

Greece’s exit from the euro is not something that is part of the plans, says Finance Minister Yanis Varoufakis (AFP Photo/Philippe Huguen)

Argentina slides into default as debt talks fail

People gather during a small demonstration in support of the government in their dispute over $1.5 billion with a U.S. hedge fund in Buenos Aires, Argentina, Wednesday, July 30, 2014. Argentina’s economy minister leads a last-gasp effort Wednesday to strike a deal with U.S. creditors that would prevent the South American country from slipping into default. (AP Photo/Victor R. Caivano)

Obama: Ignore Bloggers, Activists and Radio Talk Show Hosts Demanding Fiscal Sanity

Stand Up Americans

12 Very Ominous Warnings About What A U.S. Debt Default Would Mean For The Global Economy

Image: US debt.

Americans warned bank ‘bail-ins’ coming

Experts say institutions will grab deposits without warning

WASHINGTON – With the United States facing a $17 trillion debt and an acidic debate in Washington over raising that debt limit on top of a potential government shutdown, Congress could mimic recent European action to let banks initiate a “bail-in” to blunt future failures, experts say.

Previously the federal government has taken taxes from consumers, or borrowed the money, to hand out to troubled banks. This could be a little different, and could allow banks to reach directly into consumers’ bank accounts for their cash.

 Authority to allow bank “bail-ins” would be in lieu of approving any future taxpayer bailouts of banks that would be in dire need of recapitalization in order to survive.

Some financial experts contend that banks already have the legal authority to confiscate depositors’ money without warning, and at their discretion.