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New Zealand Banks Pre-positioning To ‘Haircut’ Your Savings ~ Document & Response

This recent Reserve Bank Consultation Document may be of interest to you …
Document link and response below.
Consultation Document: Pre-positioning for Open Bank Resolution (OBR)

1 The Reserve Bank is consulting registered banks on pre-positioning banks’ systems to ensure compatibility with the Open Bank Resolution (OBR) policy. This represents an important step in a government wide process to fully operationalise the OBR policy, as noted in the statement from the Minister of Finance on 11 March 2011.

2 An open bank resolution is an option whereby the bank is open for (full-scale or limited) business on the next business day after its temporary closure following an insolvency event or an event that triggered putting it under statutory management, and is able to provide customers with full or partial access to their accounts and other bank services.

3 Recent international developments in the field of bank resolution have focussed on enhancing authorities’ capacity to respond and resolve large or systemic failures without straining fiscal resources. One of the key lessons emerging from that crisis is the potentially enormous fiscal costs associated with supporting troubled banks. Some governments that chose to guarantee their banking system’s liabilities are now faced with a sizeable public debt burden. The alternative is to make bank shareholders and creditors shoulder the losses of a failing bank whilst ensuring that the payments system continues to function. Developing alternative solutions for dealing with failing banks has thus become a key priority for many governments and the global regulatory community.

4 OBR is intended to act as a resolution tool that puts the cost of bank failure primarily on the bank’s shareholders and creditors rather than the taxpayers, minimises moral hazard and provides continuity of core banking services. The Reserve Bank developed the OBR policy following a review of its crisis management policies and instruments subsequent to the 1997 Asian financial crisis…

Document here :

https://www.rbnz.govt.nz/finstab/banking/4335146.pdf

Response ( h / t : Jack )

Regarding the soon-coming planned banking default and “haircutting” (confiscation) of Term Deposits and Savings Accounts in NZ and Australia

In a previous email I said that the big international City of London Corporation banks

https://i2.wp.com/www.localandjust.ca/wp-content/uploads/2010/08/Aerial_view_of_the_City_of_London.jpg?resize=600%2C450&ssl=1

(which control the world through the Bank for International Settlements in Switzerland)

https://i1.wp.com/farm1.static.flickr.com/53/136045685_82c0b1706c.jpg?resize=441%2C463&ssl=1

were “planning to put our banks into statutory management and “haircut” (confiscate)

all or most of depositor’s savings soon in Australia and New Zealand in a financial crisis.”

(Indeed, this whole operation as a matter of fact is not only confined to us here but is global in nature.

However, I will just concentrate on how it is likely to affect us here in NZ and Australia and be as brief as I can.

As you will see, this amazing document outlines their actual plans and timeframe

in which these international bankers are plotting to arrogantly “haircut”

(in other words, “confiscate” most people’s life-savings) overnight during a pre-planned giant banking crash

and reopen the banks the following day after having fleeced depositors of most if not all of their life savings and cash

by “haircutting” their term deposits and savings accounts.

Presently in New Zealand officially there is $NZ210 billion held in term deposit and savings accounts

in the big four Australian-based British-controlled retail banks.

To appreciate the size of this amount relative to the NZ economy

– this is over four times the entire value of the total market capitalization of the NZ Stockmarket!

The reason why the International Banks want to grab these deposits in a deliberately planned banking crash

is that as secured creditors of the national banks,

they will wipe out excess liquidity in the system which to a large extent now

is worth no more than paper and ink or a digit on a computer screen

(now largely held in people’s life-savings)

which if it were withdrawn by depositors and put into real assets like shares, farms or homes,

it would be hyperinflationary and facilitate the easy repayment of the mortgages they hold over the entire country.

By crashing the system, and largely using depositors funds to fund the bank’s losses,

it means the bank’s secured creditors can take over all the assets in the country over which they have provided loans

– presently just about everything!

Do note that their timeframe for implementation is on page 10,

with the Reserve Bank having set a clear deadline of 30 June 2011 for all banks to provide an initial response to this consultation document.

Following this the banks are then expected to provide a detailed implementation plan to the Reserve Bank by 30 September 2011,

and after this the Reserve Bank expects all banks to be fully pre-positioned

(for the giant global banking crisis)

no later than that date 2012.

They have already tried out a test run on 15 February 2011 with “Haircuts on Depositors”

during the default of the Danish bank Amagerbanken in Denmark.

See:  https://www.politics.ie/economy/l5225 5-haircuts-depositors.html

The Australian Reserve Bank and bankers have also been carefully planning for this event long before New Zealand,

as far as I can see from 2006.

See; https://www.melbournecentre.com.au/anzsfrc.html “Managing Bank Failure in Australia and New Zealand.”

All of this has been carefully planned from the City of London headed by the British Sovereign,

who is presently taking over the world,

via the Bank for International Settlements in Switzerland that covertly controls all the Reserve Banks in every country of the world

including the US Federal Reserve, Central Bank of China, Japan, and so on.

For proof, see:  www.bis.org/publ/cgfs36.pdf

“The role of margin requirements and haircuts in procyclicality” (March 2010).

Jack.

One comment on “New Zealand Banks Pre-positioning To ‘Haircut’ Your Savings ~ Document & Response

  1. Gerald Lynch says:

    Lyndon La Rouche has been exposing the criminality of the banking system for years, but the sheeple continue to ignore his warnings, along with the CEC in Australia.The only solution as they see it, correctly I am sure, is to enact a Glass-Steagall type legislation to separate the retail from the speculative banking activities. But most politicians have been bought off by the corporate section of society, in other words THEY ARE TRAITORS. No action will ensue to protect the savings of the people, from a planned banking collapse, in 2014 I believe, so get your money out NOW. Collapse will occur over a week-end and come Monday/Tuesday, your savings are gone. But the theives will still be there, protected by what is now a corporate Police Force.. Orwell’s “!984” anybody? Bye and good luck

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