Further to my earlier post. Don't get too hung up on the word
'Nationalization'. It can come in different forms. The ruling establishment has a penchant for dreaming up euphemisms to hide the truth, and reality.
Of one thing I feel certain, they will be very careful what they do, or at least, how they do it, with ' Bank of America.' That very name is far too important psychologically for the esteem of the US (and it has so little left to lose).
However, 'The Bank of England' is a nationalized institution, as many other central banks are. Bank of America could become THE BANK OF AMERICA.
How the US's neighbour does it. The Bank of Canada
"The Bank is not a government department as it performs its activities at arm's-length from the government; it is a Crown corporation owned by the Government (shares are directly held by the Ministry of Finance). The Governor and Senior Deputy Governor are appointed by the Bank's Board of Directors. The Deputy Minister of Finance sits on the Board of Directors but does not have a vote.
The Bank submits its spending to the Board of Directors, while federal departments submit their spending estimates to the Treasury Board. Its employees are regulated by the Bank and not the federal public service agencies. Its books are audited by external auditors who are appointed by Cabinet on the recommendation of the Minister of Finance, not by the Auditor General of Canada."
You see. It's neither one nor the other. It's a mixture. But it is OWNED by the government. However, it avoids the word 'Nationalized'.
They are many strong possibilities, if perhaps not exactly probabilities - yet, that could still see us ripped off.
What I am alerting you too is simply LISTEN CAREFULLY to the words used when you get these comments, especially in the form of reassurances. Do not get hung up on the word 'nationalization', and we don't believe in it being the way to go.
They could honestly say they don't believe in war is a way to go - but they still do it.
Fingers crossed, and hope for the best. Stay positive, but cautious.
I do not think we have long to wait as they cannot stand the present uncertainty continuing. The banking system is the key to recovery, and bringing some stability, and hope, to the world economies.
Money, today, is the blood bank to life as we know it.
Happy Days to all
