“The bottom line is that financial, economic and monetary policymakers in the U.S. are fearful that another crisis, perhaps even worse than what we saw in 2008, is going to be playing out in the very near future. Otherwise, why would they find it necessary to take the drastic step of forcing bank depositors to act as a backstop for their financial institutions?  But this time around, it won’t be the government that bails them out directly. Instead, if you have an account with the bank, you are an unsecured creditor for that institution, just like Cypriots. And when that bank inevitably comes under pressure because of an inability to cover their debts, it is you who will become the bailout mechanism.”

http://www.shtfplan.com/headline-news/fed-vice-chairman-warns-your-bank-may-seize-your-money-to-recapitalize-itself_08272014

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