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The confiscation scheme planned for US and UK depositors (in education / news / politics ) by Bill — 2013-03-29

"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."

via The Confiscation Scheme Planned for US and UK Depositors | Counterpunch: Tells the Facts, Names the Names.

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