European Central Bank Preparing for Bail Ins & Banking Collapse
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After publishing my video report on bank bail-ins, a contractor for the European Central Bank, who asked that his name be withheld for security reasons, contacted me with the following information.
Shortly after the FDIC meeting that went viral, my source was assigned an urgent project related to bail-in capability for the European Central Bank, or ECB.
Bail-ins is when the bank steals money directly from people's accounts, just like we saw in Cyprus in 2013.
The project goal is to build a data infrastructure for the financial market infrastructures, which are the networks that allow financial transactions to take place, to report to the ECB about the capability of banks and capital markets to absorb losses and to execute bail-ins as quickly and efficiently as possible.
This urgent project makes it clear that the ECB is expecting a system collapse and that they know it is uncontrollable and unforeseeable.
The current security requirements do not legally compel the banks to provide information to the ECB.
If a bank is insolvent, they have no incentive to tell the ECB.
And so the ECB is not targeting banks directly, but rather financial intermediaries like SWIFT and large settlement houses.
The purpose of this contractor's job is to provide a way for the ECB to pinpoint which banks are insolvent and where the collapse will stem from.
This is being done by creating large data lakes, which an engineer can analyze and find meaning at a graphical level, how much bail-ins each bank has to execute and how much of a loss they can take.
This is evidence that the ECB is definitely planning on bail-ins as a means of surviving an imminent collapse.
And when this occurs, we can expect multiple banks to close and stock markets around the world to shut down, as the banks steal as much money from the people as they deem necessary.
Most of this work is being done in private, but there are pieces of information available to the public on the EU's SRB website, including operational guidance on bail-in implementation and the operational guidance on bail-in playbooks.
The ECB contractor has also pointed out that the latest directives for the European Union's digital service providers states that governments shall appoint trusted bodies for internet domain registry, meaning that the government will have the sole authority on who is able to have a website, and that these new security directives allow a gaping hole for a major cyber attack, which official commentators are ignoring.
Reporting for InfoWars, this is Greg Reese.
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