Archive for the ‘Bankers’ Category
Let’s see how I do with the list.
- Fast And Furious (guns for drug lords, resulting in murder of Americans and Mexicans)
- Robosigning (over 100,000 perjured affidavits filed in court cases)
- IRS Tea Party and other group and individual abuse in direct violation of the law (politically-based harassment and now apparently-perjured testimony before Congress)
- Money Laundering for terrorists and drug lords (by multiple large banks)
- Intentional and unlawful destruction of property rights (GM bondholders screwed for political cronies in the UAW)
- Intentional and unlawful destruction of your saved wealth (QE, QE2, QE3, QEinfinity, $1 trillion+ deficits, etc; Treasury and Federal Reserve actions)
- Benghazi (apparent illegal arming of terrorists, then an attempt to reverse that leading to the attack on our CIA outpost and what appears to beintentional indifference and orders to stand down during the attack that had to come from the White House despite ability to respond; this amounts to conspiracy with the terrorists to kill Chris Stevens and the others who died.)
- Swindles by the billions in countless schemes during the 2000s related to securitizations and other hinky deals (where despite black letter legal requirements for actual endorsement and delivery of documents banks simply did not comply and now argue there should be no penalty for not having done so, and that these defects are “mere procedural errors” despite intent to not comply.) The result is that our land title system no longer has any resemblance of integrity.
- Intentional destruction of anything approaching a “free market” for health care going back 30+ years and now compounded through active conspiracy by Obama and all of the political parties to grant, protect and enforce through government monopolies and cost-shifting resulting in cost escalations of 500-1,000% or even more against market prices and now, with Obamacare, abuse of the IRS tax power to force another 100% or more increase in those expenses down your throat for the express purpose of enrichment of those in the medical industry.
I’m sure I’ve missed a bunch, but this is a good start.
What do all these (and more) have in common?
Your refusal, as Americans, to stand and demand that The Rule of Law be restored and honored and that those who refuse to do so be impeached (if in government) and stand trial for their abuses.
I keep hearing people ask when I, or someone else, will “lead” on this issue.
Why do you ask where the leader is?
Do you want a Hitler? You’re going to get one if you keep that shit up.
We the people do not need “leaders” to resolve this.
We all need to personally grow a pair of balls to replace that vacuum between our legs (or nestled in our pelvis where our ovaries are supposed to be.)
We need to get off our fat asses and stop demanding that someone else take care of what is our job as citizens of this nation.
You do not have the right to health care.
You do not have the right to a job.
You do not have the right to go to college.
You do not have the right to a house.
You do not have the right to food.
You do have the right to effort to generate some form of economic activity by your own hand and mind for yourself and those who you have as dependents through your own actions, such as your children (who exist because of your actions – your exercise of the power to create life.) You may then expend the fruits of that economic activity as you see fit because such is your property; you earned it through an honest exchange with another.
You do have the right to life, liberty and the pursuit (but not guarantee of attainment) of happiness. This means that all of the above — every single one of those abuses that have been served upon you — are unlawful.
But those three rights only exist so long as you will stand and defend them. A person is a victim only until he or she gives consent.
Put a different way: The only difference between sex and rape is consent.
As soon as you consent to the frauds and abuses heaped upon you they cease to be frauds and abuses and become part of a sick sado-masochistic ritual you have willingly taken upon yourself.
They remain so until you stand and demand that it stop, backing that demand with whatever defensive force is necessary to stop what has now become rape rather than sex.
It is for that reason that I am an absolutist on where the Second Amendment’s boundaries lie. It is impossible as a matter of logic for me or anyone else to depend on someone else to stop a criminal who intends to take my life or that of those in my care, irrespective of how we would otherwise design such a social system. By definition the first person able and often the only person able to stop such an assault is the victim that the perpetrator intends to assault or kill. It matters not whether the assailant is an individual thug, a pair of thugs, an organized gang or a government agency.
The bottom line is the same; your right to life only exists so long as you are willing and able to defend it.
The same bottom line exists for liberty and the offense against it that is delineated in most of the above list; you have such a right only so long as you are willing to defend it. The minute you cede that right you have consented to what you are experiencing and you lose the right to bitch about it until and unless you stand and take back that which God gave you.
This is basic logic and as soon as you cede basic logic you inevitably lose every other point of argument. In this case when you lose those arguments you risk losing your life and/or liberty; you are literally risking death or enslavement.
Since 2007 I have written on these matters in the economic realm and laid forth arithmetic proving that what has been done is not an accident but rather is a swindle. It is not a new swindle either; it is in fact one of the oldest in the history books, rivaling only prostitution in age. Arithmetic is not subject to debate; you can choose to overlook it but you cannot change it.
Those of you who seek leaders are fools; each of you should lead for yourself and confine that leadership to yourself and your life along with those dependent upon you through acts of your own free choice, enjoying or suffering the consequences of those choices.
Your right to lead in that regard ends as soon as you demand that someone else pay for whatever it is that you want to acquire or suffer as a consequence of your actions and inactions, whether it be food, shelter, education, health care or anything else.
The first principle behind The Declaration is that we are a nation governed by laws, not men, with each such law that is valid and enforceable being able to be tied back all the way to The Declaration through The Constitution.
The Declaration sets forth the reason why although rights are absolute societies organize governments — it is for the purpose of providing a framework of laws to enforce those rights and punish violators. Absent that you have only the law of the jungle, where the individual with the biggest teeth, claws and body mass wins while everything else is food.
That is what you have in the absence of the rule of law, and that is what we have collectively and individually allowed to occur in this country. All of the above has occurred because we have regressed to The Law of the Jungle from The Rule of Law.
We either stop it or we will be consumed by it.
It’s important to draw a line between two very different flavors of banker: “restrained” (Dr. Jekyll) and “unrestrained” (Mr. Hyde).
Those who read The Proper Use of Credit (April 4, 2013) know that I see a vital role for credit and yes, banks, in a sustainable economy. But as many observers have pointed out, banks must be controlled lest the predatory, parasitic Mr. Hyde replaces the proper Dr. Jekyll role of providing capital to worthy enterprises and households.
In response to Debt = Serfdom (April 2, 2013), longtime correspondent Jeff W. delineated the difference between Good Banker (restrained) and Bad Banker (unrestrained). Unfortunately, as Jeff explains, it is Mr. Hyde (unrestrained banker) who has captured the political and regulatory machinery of governance.
Here is Jeff’s commentary:
“I distinguish in my mind two different kinds of bankers: I’ll call them “restrained” and “unrestrained.”
The restrained banker loads up the debt serfs with debt up to their Plimsoll Lines or credit limits. Then he stops. He knows that if he keeps loading more debt onto them, they may go bankrupt, and he wants to avoid the mess and losses that come with that.
The unrestrained banker has a completely different skill set. He will make high-interest loans (Payday Loans) to insolvent borrowers. He is not afraid of bankruptcies; bankruptcies are part of his business model. He knows how to take advantage of borrowers who are desperate, ignorant, or impulsive (or all three). He knows all about asset stripping. He knows how to unload bad loan paper on suckers. He thrives in an environment of chaos and desperation, where his customers are often at the end of their ropes.
In the old days, the restrained bankers and community-minded Americans used to put controls on the unrestrained bankers. There were usury laws that made it illegal to charge interest above a certain rate, such as 15%. Unrestrained bankers were not welcomed into polite society, and people were warned against doing business with them.
Which of the two kinds of bankers operate the Federal Reserve and have seized control of the Federal government? I say it is the unrestrained variety. I say that the securitization of mortgages was, all along, a scheme to unload bad mortgage paper on suckers, such as pension funds and the U.S. taxpayer.
Obama’s stimulus was the work of unrestrained bankers. The Obama deficits have been the work of unrestrained bankers. The Simpson-Bowles Commission was an effort by the restrained bankers to keep the U.S. debt below its Plimsoll Line, which Reinhart and Rogoff have put at 80% of GDP. But the unrestrained bankers have not hesitated to blow right past that.
If my observation is correct that the U.S. government has now been subverted by unrestrained bankers, it means that:
- Our nation’s fiscal policy is being dictated by people who are not afraid of the chaos of bankruptcy, but who thrive in that environment.
- Federal policies are being dictated by people who like to deal with debtors who are desperate and at the end of their ropes.
- Federal policies are being dictated with a view of future asset stripping.
- With this group in power it means that In a future bankruptcy scenario, everyone is going to come out a loser except the unrestrained bankers.
Where restrained bankers might be compared with bloodsucking fleas or lice, who are parasites on healthy bodies, the unrestrained bankers can be more aptly compared with maggots, who feast on the bodies of the dead.
So I say it is important to know what kind of bankers you are dealing with. If you are dealing with unrestrained bankers, it can bring nothing but bad luck.”
Thank you, Jeff. As correspondent Lew G. noted, the key feature of a sustainable, non-parasitic banking sector is that banks and bankers have “skin in the game,” i.e. they personally suffer losses when their loans and bets go bad.
This is the essence of moral hazard: the separation of risk from consequence. Put another way, those who are insulated from risk will have an insatiable appetite for risky bets because any gains will be theirs to keep but any losses will be covered by the central bank or government: this is known as “privatizing profits and socializing losses.”
As Lew G. also observed, if players (in this case, bankers, legislators and regulators) “have a choice of games, they will play the one with the best payoff,” i.e. the one in which they have no skin in the game and the Central State/bank will backstop/ socialize their losses to the Tax Donkeys (taxpayers) while they keep the ill-gotten gains.
The Federal Reserve, the Obama Administration, the housing agencies and the U.S. Treasury are all offering bankers and financiers high-payoff tables that require no skin in the game. No wonder our system is dominated by the unrestrained bankers, sociopathological Mr. Hydes who offer a few coins in compensation for running down the nation.
Charles Hugh Smith – Of Two Minds
Bill Still is a guest on the Day Trade Show. Some very wise words of caution regarding a gold standard. The large banking institutions are starting to push a ‘gold-backed currency.’ Everyone from the IMF to the BIS to the World Bank is starting to suggest that this is what will be implemented when fiat money printing no longer kicks the can. One has to ask the obvious question: Why would the same banking institutions who have successfully monopolized fiat currency want this if it would, as purported, put the money power back in the hands of the people or in any way prevent them from a total monopoly yet again.
The short answer is: it won’t. The banks control the gold as much, if not more so, than they do fiat currency. The whole point is to try to push you, JoeCitizen into ‘trusting’ that this is a much more fair method. Do not be fooled. It’s time that we learnt our lessons from history. Remember, we went off the gold standard not because it was too restrictive for the bankers, we went off the gold standard because people were losing faith in it. The bankers had manipulated it so much, that no one believed it was real anymore. And it wasn’t. It is time to STOP trusting what these money changers suggest!
And he’s slipping the noose over the witnesses’s heads.
He’s going after the bank corruption! Could this be the REAL reason he decided to retire? If anyone has the power to finally stop the corruption in our banking and financial system, it is Carl Levin. Now that he does not have to worry about being re-elected, he doesn’t have to worry about the standing protocol in Washington DC, which is never to upset the apple cart.
To Senator Levin: THROW THE APPLE CART OFF THE CLIFF!
Watch live now on C-Span – Permanent Subcommittee On Investigations Hearing
If you missed it live, here is the archived video.
If you think Too-Big-To-Jail Bankers shouldn’t be too big to jail, please contact Senator Levin and tell him it’s past time to prosecute these criminals!
I guess if by ‘luck’ you mean bad, then the old saying applies here.
You have to hand it to Sugarman. He has a knack for giving the authorities heartburn. I wrote an update about his case at the time of the Village Magazine piece which filled in a couple of interesting details.
This time he happened to mention as an example of the total lack of financial regulatory oversight in Ireland during the bubble years the Belgian Bank KBC. As Sugarman said, just this month KBC Belgium had to give KBC Ireland another €100 million in order to bail it out. To illustrate how KBC had got itself into the state where it is still being bailed out by the Belgian tax payer via its parent company, he told how he himself had been given a mortgage by KBC in Ireland. As he said in the interview,
“When I looked at the forms I had to fill in for KBC Ireland, it was a joke. I could have said I was Mickey Mouse and I work in La la land and I would still have a million euro to buy a house with maybe was woth 200 000 euro. Did anybody ask questions. No. The bank is growing. Where’s the problem.”
Where indeed? What he didn’t say in the interview is that the bank did not actually bother to value the property he was buying before it gave him the mortgage. It looked at the house next door and guessed.
Oh isn’t that nice?
There’s much more, including plenty about the use of Ireland as a “dumping ground” for all sorts of game-playing. But the best part isn’t in the article at all – it’s that Reuters apparently spiked a story he was working on after legal threats were made.
There’s nothing new about trying to bury the facts (and the debate that reaches those facts) when it comes to the banksters. Indeed, that’s been the story of the last five years. Here in the United States enlisting the State AGs in the process and effectively bribing them to look the other way instead of prosecuting myriad felonies has been the bankster stock in trade — after all, admitting to over 100,000 perjured affidavits would normally (for you or I) lead to a very nasty prison sentence.
Never mind the corruption in land titles and the likely (really, more like nearly-certain!) case that many people have been foreclosed upon when in fact the note is still open somewhere, someone has it, and the institution that foreclosed not only doesn’t have it now but never did and can’t acquire it due to REMIC regulations and either their or someone else’s previous malfeasance.
That is the most-likely reason, incidentally, for all these paperwork “mistakes” — the required steps simply weren’t done during the previous (and mandatory) time periods, and once that was discovered there was no lawful way to correct it. Rather than hold the banks’ feet to the fire and make them eat their mistakes, including the legal and financial consequences of that which couldn’t have been an accident, given the scale, we instead sit back and let them steal people’s houses.
In this case it appears an entire nation was stolen.
But heh, it’s all ok in the name of “financial stability” — right?
One wonders whether the Irish remember their history and what they have, in the past, chosen to do rather than sit quietly and be abused.
As Golem said:
If it were just the banks who we had to fight for truth and justice life would be easy. But we are fighting our own political class and our media as well.
We are not all in this together. They are all in it together, against us. We are on our own.
Wondering why Italy ought to be on your radar as the source of ka-boom?
Heh heh heh…… worth every second of the 11 minutes.
Where is the person in our political process who will bring this message to our people in America?
Want to be President? Want to avoid being laid politically (if not personally and physically) waste in what is to come — and come soon?
Bring this message and join Beppe.
Yes, I know the video is more than 10 years old. This is how pressure builds until it finally bursts the seams of its container and shows up on the world stage like a tsunami travels under the surface of the water, almost-entirely unseen, until the last seconds before it breaks on shore.