Will Grigg?s Liberty Minute

March 29, 2013

Financial affairs analyst Ellen Brown points out 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.?

A 15-page paper published last December by the Federal Deposit Insurance Corporation and the Bank of England anticipates that the next financial collapse will require that private deposits be treated as shares that can be seized and converted into bank equity.

What does this look like in practice? One example was provided by a businessman from Cyprus, who discovered earlier this week that the government, on orders from the European Commission, had stolen more than eighty percent of the money in his account. The Cypriot businessman, who operated a mid-sized IT company, says that the same thing has happened to thousands of other businessmen in his country. He was forced to fire all of his employees, and announced that he would be relocating abroad to a country ?where authorities have more respect to people?s assets.? 

We have no reason to believe that the country he?s referring to is the United States.

Let us take back the liberty wherewith Christ has made us free.