On Mar 22, 2013, at 11:52 AM, Mitchel Cohen <mitchelcohen at mindspring.com> wrote:
> The deposit confiscation scheme has long been in the making. US depositors could be next . . . .
Ellen Brown is a quack. No, U.S. depositors are not next. The under-100,000 deposit haircut is almost universally seen as a stupid disaster. For large deposits, though, it's not necessarily a bad idea. They're usually rich people or big institutions.
Also:
> Most people would be surprised to learn that they are legally considered "creditors" of their banks rather than customers who have trusted the bank with their money for safekeeping, but that seems to be the case.
"Seems"? It's basic accounting. When you make a deposit in a bank you're lending it money. If she has to quote Wikipedia on this, she's clearly out of her depth.
Doug