A bank failure (bail-in) just occurred in Austria, the Hypo Alpe Adria - the Heta Asset Resolution AG (bank) went from good to bad, with its creditors forced into an involuntary "bail-in" following the discovery of a 8.5 billion capital hole.
That may be why Obama, Biden and Yellen met quietly the other day. The Austrian bank in question claimed they discovered a 8.5 "hole" in their capital account. Yeah, and I discovered America!
It was an Rothschild bank collapse in Austria that caused the "Great Depression" to spread across Europe. The bank failed on Sunday.
Do you realize that the banking system likely holds less than half a cent for each dollar they have? We live in an economic system that is made complicated by design. Basically, it’s set up so most people don’t even try to understand it.
Mike is also the founder of GoldSilver.com (http://tinyurl.com/jlypdzc), which was one of the first websites ever to sell bullion online. It is well known for outstanding customer service and its competitive prices. If you’re a fan of Mike’s YouTube channel and need help buying gold and silver, his team is standing by to answer all your questions and make it easy. You can find out more at http://tinyurl.com/jlypdzc. Click the link below.
https://www.youtube.com/watch?v=vZ_-l2D9b98
Below is Tyler Durden's article.
http://www.zerohedge.com/news/2016-04-10/austria-just-announced-54-haircut-senior-creditors-first-bail-under-new-european-rul
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