The Coming Financial Crisis A Look Behind the Wizard's Curtain

(I received this email from a friend and thought it worth sharing. I have met the author and he really DOES know his stuff.)
I talked to a friend today.
Smart Dude, but he hadn’t quite grasped this whole Bail In operation.
It’s important to know what is being planned here. Your bank account could be at risk.
So let me explain it simply.
A strategy has been devised by the Global Financial Mafia (and I use that term advisedly) to protect banks – particularly the large banks – from the financial calamity that is going to result from the explosion of the derivatives bubble.
What is the “Derivatives Bubble?”
Derivatives are essentially bets – yes, like Vegas – bets between financial institutions primarily on the direction of interest rates. One bank thinks rates are going up, the other thinks they are going down and they bet.
The bet becomes a security, like a stock or a bond.
Then people bet on those bets and others bet on the bets of the bets and the bets pyramid to….
Today, there are about $1.2 QUADRILLION dollars in derivatives on the planet. $1,200,000,000,000,000.
About $227 Trillion are held by U.S. banks. $227,000,000,000,000.
The figures are mind numbing.
Banks can use depositors money to help fund their derivatives.
We are talking fiscal insanity.
Warren Buffet has called derivatives, “Financial weapons of mass destruction.”
Sooner or later this bubble will break. Banks who made bad “bets” will suffer catastrophic losses…or will they?
With the new “Bail In Strategy” (designed by the world’s top central bank in Basel, Switzerland) banks that suffer losses and are failing can take money from depositor’s accounts and convert the money to bank stock.
You’re scratching your head now thinking, they can’t possibly take my money….
The trouble is that once you put your money in the bank, IT IS NO LONGER YOUR MONEY. It’s the bank’s money. Yes, they owe it to you. But you are an “accounts payable.” You are what’s called an “unsecured creditor.” And unsecured creditors are paid out from a failing bank after the derivatives holders – the bank itself.
How much they can take is a question, as the FDIC, in issuing a memo on this procedure for U.S. banks, specifically omitted any mention of deposit insurance. Perhaps the insurance will apply, but Bail Ins are new, have never been done here before and the FDIC did not mention insurance in their Bail In memo.
To get the full story of who is behind this and how to protect yourself, read my new book, The Coming Financial Crisis A Look Behind the Wizard’s Curtain. Print or digital.
It is written in “plain english.” Learn what is in progress and how to protect yourself.
Knowledge is power. Get some.
http://www.amazon.com/Coming-Financial-Crisis-Wizards-Curtain/dp/0996968644/ref=sr_1_1?ie=UTF8&qid=1452065397&sr=8-1&keywords=john+truman+wolfe