[Sallypuff] A good sign that the masses are expecting an RV anytime. I just called our local Wal-Mart and they said they had a run on Depends and are out of stock. They have no idea what is causing it any more than some bankers. .
Important new world-wide financial legislation about to be passed!
Intel, Not Rumor!!
Just sent to me by a friend who is a financial researcher and so important IMO that I am posting it here for all TNT Dinarians.
This is an article from the "Economic Policy Journal" authored by Kenneth Schortgen, Jr.
"On Nov. 16, the G20 will implement a new policy that makes bank deposits on par with paper investments, subjecting account holders to declines that one might experience from holding a stock or other security when the next financial crisis occurs.
Additionally, all member nations of the G20 will immediately submit and pass legislation that will fulfill this program, creating a new paradigm where banks no longer recognize your deposits as money but as liabilities and securitized capital owned and controlled by the bank or institution.
In essence the Cypress template of 2011 will be fully implemented in every major economy and place bank depositors as the primary instrument of the next bailouts when the next crisis occurs."
Is this what the hold-up (and I use this term in both senses of the meaning) of the RV has really been all about?? Just my guess but if the shoe fits-------
You can go and read the original article at
For those of you who can't resist responding to this with nasty comment's, be my guest as I will not be back here to read them.
For the rest of you, I hope I have been helpful to you in planning your future in a safe and judicious and responsible way.
At least you will have the knowledge to discuss this with your financial advisor.
I know that I am going to give some serious thought to whether a bank wealth manager would tell me the truth about this information.
IF I MAY.....
Here is what actually is going on....
G20 proposes buffer to end too big to fail banks
Mon Nov 10, 2014 1:00am EST
* New "bail in" bonds rule set for January 2019
* Minimum buffer of 16-20 pct of risk weighted assets
* Rule to be finalised by G20 summit in 2015 By Huw Jones
LONDON, Nov 10 (Reuters) - The world's biggest banks should hold a buffer of bonds in case of a collapse so that government bailouts are avoided, a global regulatory body proposed on Monday.
The draft rule is the last major piece of banking reform put forward by world leaders since the 2007-09 financial crisis forced taxpayers to shore up under capitalised lenders.
The Financial Stability Board (FSB), made up of regulators from the Group of 20 economies (G20), said global banks like Goldman Sachs and HSBC should have a buffer of bonds or equity equivalent to 16 to 20 percent of their risk-weighted assets from January 2019.
The bonds would be converted to equity to "bail in" a stricken bank. The total buffer would include the minimum mandatory core capital requirements banks must already hold.
The proposal is set to be endorsed by G2O leaders later this week in Australia. It is being put out to public consultation until Feb. 2, 2015.
FSB Chairman and Bank of England Governor Mark Carney said the buffer would be finalised next year, marking a watershed in ending banks that are too big to be allowed to fail.
The new rule will apply to 30 banks the FSB has deemed to be globally systemically important, though initially those from emerging markets would be exempt.
"Once implemented, these agreements will play important roles in enabling globally systemic banks to be resolved (wound down) without recourse to public subsidy and without disruption to the wider financial system," Carney said in a statement.
Most of the banks would need to expand their issuance of debt to comply, the FSB said. Some senior debt already issued would will also need restructuring.
To avoid banks downplaying the riskiness of their assets to meet the new rule, the buffer, formally known as total loss absorbing capacity or TLAC, must also be at least twice their leverage ratio, a separate measure of capital to total assets regardless of the level of risk.
Globally, this yardstick has been set provisionally at 3 percent but it could be higher when finalised in 2015.
Parts of the buffer would be held at major overseas subsidiaries to reassure regulators outside a bank's home country.
"We believe TLAC will be a more material challenge in Europe than in the U.S.," Fitch ratings agency said ahead of the announcement. Extra requirements from national supervisors could swell the buffer to 25 percent of risk weighted assets, it added. (Editing by Keiron Henderson)
A BIT MORE ON BANKS....
Fed issues rule to prevent oversized U.S. financial firms
By Sarah N. Lynch
WASHINGTON Wed Nov 5, 2014 11:40am EST
Reuters) - The U.S. Federal Reserve unveiled a final rule on Wednesday designed to prevent large financial firms from becoming so big that their failure could shake the core of the U.S. financial market.
The final rule, required by the 2010 Dodd-Frank Wall Street reform law, prohibits banks and certain large financial firms from acquiring another company if that merger would cause their liabilities to exceed 10 percent of the total consolidated liabilities for all financial firms.
The Fed said on Wednesday that its final rule is "substantially similar" to the one it proposed in May, but contains a few changes.
For instance, the final rule has an exemption that
would permit firms to continue securitization activities even if they have reached the limits set forth in the rule.
The final rule also prohibits a company from acquiring another company under "merchant banking authority" if it has reached the 10 percent limit.
In addition, it spells out more details for how to properly calculate financial sector liabilities, among other things.
The rule is slated to take effect on January 1, 2015.
Wednesday's rule applies to banks and to large financial firms who are designated as "systemic" by the Financial Stability Oversight Council (FSOC), a federal government panel of regulators that polices for emerging market threats.
The FSOC has already designated General Electric Co's (GE.N) GE Capital, American International Group Inc (AIG.N) and Prudential Financial Inc (PRU.N) as systemic. It has also proposed designating Metlife Inc (MET.N), although the company has hired a lawyer to fight the proposal.
OH, OK HERE IS ONE FROM TODAY AS WELL....
G20's Carney says bank crisis reforms 'substantially complete'
By Huw Jones
LONDON Fri Nov 14, 2014 7:49am EST
Reuters) - The job of fixing flaws that led to the 2007-09 financial crisis is largely done and the focus will turn to spotting new risks and rebuilding trust among regulators, a global watchdog set up by the Group of 20 (G20) leading economies said on Friday.
The Financial Stability Board (FSB) has coordinated the enforcement of rules forcing banks to hold more capital after many were bailed out by taxpayers in the crisis.
"The G20 has worked intensively over the past six years to correct the fault lines that led to the global financial crisis," FSB Chairman Mark Carney said in a letter to G20 leaders meeting in Brisbane, Australia.
While the job is "substantially complete", further work remains in order to build a fully resilient system, said Carney, who is also governor of the Bank of England.
Earlier this week, the FSB unveiled the last major piece of crisis reforms, a proposed requirement for banks to hold equity and bonds equivalent to 16 to 20 percent of their risk-weighted assets to shield taxpayers in a collapse.
Sven Giegold, a Green party member of the European Parliament, said Carney was being overly optimistic as large banks remain "too big to fail". Giegold doubted that regulators would allow several big banks to collapse in a crisis.
The FSB has already finalised tougher standards for financial derivatives such as credit default swaps, but Carney said implementation was uneven and behind schedule.
Carney said the next phase for the FSB was to focus on new and constantly evolving risks from "shadow banking" or institutions that deal in credit outside traditional banking.
He will also focus on how rules are implemented and make refinements if needed.
The FSB would work to rebuild trust among regulators to stop countries fragmenting global markets by taking unilateral steps to shield their taxpayers from a failing foreign bank.
The FSB has already set global principles for banker bonuses, such as requiring a portion to be deferred over several years, and Carney said it would now focus on the link between pay, risk appetite and governance of banks.
Pay structures at top insurers would be looked at in 2015.
The watchdog also confirmed it would revise how it planned to select big asset managers for tougher scrutiny, saying it would develop incremental policy measures to address the systemic risks they pose.
Separately on Friday, the Geneva-based World Economic Forum said Carney and International Monetary Fund head Christine Lagarde would take part in a new initiative looking at the future of the global financial system.
Anders Borg, a former Swedish finance minister who heads the initiative, told reporters the aim was to get regulatory frameworks across the world working well together and get credit flowing into the economy.
Now I could be wrong but I read these as good things.... now having to cover their own butts