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Bankster Power Grab - Historical Perspective
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Bankster Power Grab - Historical Perspective

  #11 (permalink)
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Repeat after me: The Big Banks are our friends.

NCUA Sues J.P. Morgan, RBS Over Mortgage Bonds - WSJ.com

"Federal regulators accused J.P. Morgan Chase & Co. and Royal Bank of Scotland Group PLC of duping five large credit unions into buying more than $3 billion in mortgage bonds that were "destined to perform poorly," and that quickly sank the credit unions."

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  #12 (permalink)
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The Fed and the Banking Racket

from
A Blinking Idiot & the Banking System | zero hedge


Quoting 
Elliott: But being Chairman of the Fed, doesn't he have to lie? If he came out and said exactly what he’s planning to do, wouldn’t everyone and his dog get on the right side of the trade?
Lee: That’s what he does though - he lies, but in his backchannel way. He tells the favored groups exactly what he’s going to do. You have to read between the lines. The meeting minutes are pure propaganda. That is how they send coded messages to the market.
In the last meeting minutes, or maybe the one before, the Fed said that wage increases were to be eradicated. I went ballistic when I saw that.
Elliott: Especially because they create all this inflation, and it trickles it’s way down. This is trickle down inflation. It’s gotten to the point where the people trying to make a living and ultimately buy things are being told that although prices are going up, we can’t allow you to earn anymore money...
Lee: It’s a moral outrage and a terrible policy. But that's what they want. Their purpose is to keep the bankers in business. The Fed serves the banking system. That’s why it’s there, to make sure the banking system is profitable.
Ilene: So they are accomplishing their goal.
Lee: For the time being. In the end they cannot fulfill their purpose because the banking system is dead. This is Frankenstein’s monster. This is another one of Bernanke’s economic science experiments, Dr. Bernankenstein. And the result of his policies is bernankicide - the financial genocide of the elderly in America.
Elliott: Then if Dr. Bernanke is Dr. Frankenstein, then what exactly is his monster?
Ilene: The banking system?
Lee: Yes, it’s got these screws coming out of its head, and stitches across its forehead. It’s the walking dead. The banks don’t make any money, the only way they appear to make money is by lying about it.
Ilene: But the people running the banks make money.
Lee: It’s a criminal syndicate for god's sake.


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  #13 (permalink)
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More Bank Bashing


Janet Tavakoli:
Quoting 
If a drunk driver crashed his speeding rental car into your house and killed your spouse, you would be outraged if law enforcers took bribes and refused to give the driver a blood test. If the judge then gave the killer a small fine and ordered you to pay the fine and pay for all the damages, you'd be outraged. If the government then handed the drunk-driver keys to a bigger faster rental car, handed the drunk driver an even bigger bottle of whiskey, and then gave you the rental bill; you'd storm Washington, blizzard elected officials with protests and organize friends and associates to vote these malefactors, the elected officials that betrayed your trust, out of office.
Yet, we've remained largely silent in the face of the same sort of behavior by Wall Street and Washington. Bonus-seeking bankers crashed into Main Street's economy and ran control frauds within banks that would have failed without taxpayer bailouts. Bureaucrats and elected officials bailed them out without demanding consequences. Bankers are revving their engines again in credit derivatives, currency derivatives, and commodities trades. "Financial reform" addresses none of the latter problems.

Janet Tavakoli: Third World America: Drowning in Debt and Choking on Lies

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  #14 (permalink)
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Clip from the 2009 film The International




.

Every moment I wake up I realize I know nothing, and then I smile...
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  #15 (permalink)
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Haven't we been here/done that , before ?
Market crash 'could hit within weeks', warn bankers - Telegraph

"Insurance on the debt of several major European banks has now hit historic levels, higher even than those recorded during financial crisis caused by the US financial group's implosion nearly three years ago. Credit default swaps on the bonds of Royal Bank of Scotland, BNP Paribas, Deutsche Bank and Intesa Sanpaolo, among others, flashed warning signals on Wednesday. Credit default swaps (CDS) on RBS were trading at 343.54 basis points, meaning the annual cost to insure £10m of the state-backed lender's bonds against default is now £343,540.

The cost of insuring RBS bonds is now higher than before the taxpayer was forced to step in and rescue the bank in October 2008, and shows the recent dramatic downturn in sentiment among credit investors towards banks.

"The problem is a shortage of liquidity – that is what is causing the problems with the banks. It feels exactly as it felt in 2008," said one senior London-based bank executive.

"I think we are heading for a market shock in September or October that will match anything we have ever seen before," said a senior credit banker at a major European bank."

In view of recent revelations on how much the Fed (alone) paid out to these banks...
Wall Street Aristocracy Got $1.2 Trillion in Fed?s Secret Loans - Bloomberg

....one question never seems to be asked....
Where's all the money gone?

Every moment I wake up I realize I know nothing, and then I smile...
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  #16 (permalink)
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zt379 View Post
Clip from the 2009 film The International




.

Great clip. Thanks for posting. Succinctly explains why banks (at least the modern-day, debt-as-currency ones we're used to) love to promote and finance wars.

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  #17 (permalink)
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Nigel Farage: Greece under Commission-ECB-IMF Dictatorship


Every moment I wake up I realize I know nothing, and then I smile...
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