Archive for the ‘Bankers’ Category
Yes, that is the BIG question. Really, it’s the only question that matters right now when it comes to our financial system.
Why do you obey the law, when the largest financial institutions in the United States break the law at will?
Time after time we watch the largest financial institutions break laws, the same laws under which we, the common person, would be jailed if we were to do the same thing. These are the very same financial institutions who are receiving $83 billion in annual taxpayer support. In essence, the taxpayers are being forced to finance the banks’ theft of our own property and money.
This is how civil wars occur — when the rule of law is entirely lost – when injustice reaches the point that certain “special people” get to break the law without consequence, while the “little people” violating the same or similar laws are arrested, indicted, tried, convicted and thrown in jail.
Startling Evidence That Central Banks And Wall Street Insiders Are Rapidly Preparing For Something BIG
If you want to figure out what is going to happen next in the financial markets, carefully watch what the insiders are doing. Those that are “connected” have access to far better sources of information than the rest of us have, and if they hear that something big is coming up they will often make very significant moves with their money in anticipation of what is about to happen. Right now, Wall Street insiders and central banks all around the globe are making some very unusual moves. In fact, they appear to be rapidly preparing for something really big. So exactly what are they up to? In a previous article entitled “Are The Government And The Big Banks Quietly Preparing For An Imminent Financial Collapse?“, I speculated that they may be preparing for a financial meltdown of some sort. As I noted in that article, more than 600 banking executives have resigned from their positions over the past 12 months, and I have been personally told that a substantial number of Wall Street bankers have been shopping for “prepper properties” this summer. But now even more evidence has emerged that quiet preparations are being made for an imminent financial collapse. That doesn’t guarantee that something will happen or won’t happen. Like any good detective, we are gathering clues and trying to figure out what the evidence is telling us.
Why Is George Soros Selling So Much Stock And Buying So Much Gold?
I am certainly not a fan of George Soros. He has funneled millions upon millions of dollars into organizations that are trying to take America in the exact wrong direction.
However, I do recognize that he is extremely well connected in the financial world. Soros is almost always ahead of the curve on financial matters, and if something big is going to go down George Soros is probably going to know about it ahead of time.
That is why it is very alarming that he has dumped all of his banking stocks and that he is massively hoarding gold. The following is from shtfplan.com….
In a harbinger of what may be coming our way in the Fall of 2012, billionaire financier George Soros has sold all of his equity positions in major financial stocks according to a 13-F report filed with the SEC for the quarter ending June 30, 2012.
Soros, who manages funds through various accounts in the US and the Cayman Islands, has reportedly unloaded over one million shares of stock in financial companies and banks that include Citigroup (420,000 shares), JP Morgan (701,400 shares) and Goldman Sachs (120,000 shares). The total value of the stock sales amounts to nearly $50 million.
What’s equally as interesting as his sale of major financials is where Soros has shifted his money. At the same time he was selling bank stocks, he was acquiring some 884,000 shares (approx. $130 million) of Gold via the SPDR Gold Trust.
Why would you dump over a million shares of stock in major banks and purchase more than 100 million dollars worth of gold?
Well, it would make perfect sense if you believed that a collapse of the financial system was about to happen.
Earlier this year, George Soros told the following to Newsweek….
“I am not here to cheer you up. The situation is about as serious and difficult as I’ve experienced in my career,” Soros tells Newsweek. “We are facing an extremely difficult time, comparable in many ways to the 1930s, the Great Depression. We are facing now a general retrenchment in the developed world, which threatens to put us in a decade of more stagnation, or worse. The best-case scenario is a deflationary environment. The worst-case scenario is a collapse of the financial system.”
It looks like he is putting his money where his mouth is.
Perhaps even more disturbing is what he believes is coming after the financial collapse….
As anger rises, riots on the streets of American cities are inevitable. “Yes, yes, yes,” he says, almost gleefully. The response to the unrest could be more damaging than the violence itself. “It will be an excuse for cracking down and using strong-arm tactics to maintain law and order, which, carried to an extreme, could bring about a repressive political system, a society where individual liberty is much more constrained, which would be a break with the tradition of the United States.”
That doesn’t sound good.
George Soros has told us what he believes is going to happen, and now he is making moves with his money that indicate that he is convinced that it is actually about to start happening.
But he is not the only one that has been busy accumulating gold.
Billionaire John Paulson (the one that made 20 billion dollars on the subprime mortgage meltdown) has been buying gold like crazy and his company now “has 44 percent of its $24 billion fund exposed to bullion.”
So why are Soros and Paulson buying up so much gold?
Central Banks Are Also Hoarding Gold
According to the World Gold Council, the amount of gold bought by the central banks of the world absolutely soared during the second quarter of 2012. The 157.5 metric tons of gold bought by the central banks of the world last quarter was an increase of 62.9 percent from the first quarter of 2012 and a 137.9 percent increase from the second quarter of 2011.
Prior to 2009, the central banks of the world had been net sellers of gold for about two decades. But now that has totally changed, and last quarter central banks stocked up on gold in quantities that we have not seen before….
At 157.5 metric tons, gold buying among central banks came in at its highest quarterly level since the sector became a net buyer of the precious metal in the second quarter of 2009, data in the organization’s quarterly Gold Demand Trends report show.
So why have the central banks of the world become such gold bugs?
Is there something they aren’t telling us?
Rampant Insider Selling
Wall Street insiders have been dumping a whole lot of stock this year.
First quarter earnings have been decent, if not spectacular. And many corporate executives are issuing cautiously optimistic guidance for the rest of the year.
But while insiders’ lips are saying one thing, their wallets are saying another. The level of insider selling among S&P 500 (SPX) companies is the highest in nearly 10 years. That is not good.
A lot of insiders appear to be getting out at the top of the market while the getting is still good.
Other insiders appear to be bailing out before the bottom falls out from beneath them.
Just check out what has been happening to Facebook stock. It hit another new record low on Thursday as insiders dumped stock. The following is from a CNN article….
Facebook’s life as a public company has been a nightmare from day one, and the pain continued on Thursday as some company insiders got their first chance to dump shares.
Facebook stock hit a new intra-day low of $19.69 Thursday morning, and ended the day 6.3% lower at $19.87.
Sadly, Facebook has now lost close to half of its value since the IPO.
Will Facebook end up being the poster child for the irrational stock market bubble that we have seen over the past couple of years?
Overall, retail investors have been very busy pulling money out of stocks in recent weeks.
The following are the net inflows to equity funds over the past five weeks (in millions of dollars) according to ICI….
According to the figures above, more than 10 billion dollars has been pulled out of equity funds over the past two weeks alone.
So does this mean anything?
But it is very interesting and it bears watching.
Why Does The U.S. Government Need So Much Ammunition?
In my previous article, I also noted that the U.S. government appears to be very rapidly making preparations for something really big.
This week, it was revealed that the Social Security Administration plans to buy 174,000 hollow point bullets which will be delivered to 41 different locations all over America.
Now why in the world does the Social Security Administration need 174,000 bullets?
And why do they need hollow point bullets? Those bullets are designed to cause as much damage to internal organs as possible.
But of course this is only the latest in a series of very large purchases of ammunition by U.S. government agencies. The following is from a recent article by Paul Joseph Watson….
Back in March, Homeland Security purchased 450 million rounds of .40-caliber hollow point bullets that are designed to expand upon entry and cause maximum organ damage, prompting questions as to why the DHS needed such a large amount of powerful bullets merely for training purposes.
This was followed by another DHS solicitation asking for a further 750 million rounds of assorted bullets, including 357 mag rounds that are able to penetrate walls.
Now why in the world would the government need over a billion rounds of ammunition?
If it was the U.S. military I could understand this. You can burn through a whole lot of ammunition fighting wars.
But this makes no sense – unless they believe that big trouble is coming.
The American people are more frustrated and more angry than at any other time in modern history. This upcoming election is only going to cause Americans to become even more angry and even more divided.
All it would take is just the right “spark” to cause this country to erupt.
It could be the upcoming election.
It could be the collapse of the financial system.
Or it might be something else.
But the conditions are definitely there for it to happen.
Unfortunately, the American public is never told to prepare because authorities never want “to panic” the general population.
We are always the last to know, and that stinks.
So don’t wait for someone to come on the television and announce that a crisis is happening.
If you wait that long, it will be too late.
Instead, open up your eyes and think for yourself.
We all need to work hard to get prepared for the coming crisis while we still can.
As you can see, Wall Street insiders, the U.S. government and the central banks of the world are busy getting prepared.
Don’t put your head in the sand.
The warning signs are there and time is running out.
Is there any fairness in a system where a group of people can borrow a bunch of money to buy a company and pay themselves millions of dollars in dividends and fees, while the company itself ends up bankrupt and its employees lose their jobs, health insurance and pensions?
Can you imagine the owners then being celebrated in fancy society while the unfortunate workers are left to fend for themselves as the collateral damage of the system?
Who did they borrow that money from? And did it ever actually exist?
Isn’t that the question to be asked? I know it’s impolite among the bankster class, but it really is the question, isn’t it?
Most people think that banks lend their deposits. They’re wrong. Banksters even teach kids this; I witnessed it during a school field trip a few years ago where a local bank was one of the stops. The implication left with the young people was that the bank “safely kept” the deposits, and from this they made loans.
This is a lie, incidentally. Banks do no such thing. They first lend the money and then balance their reserves with the deposit that the merchant comes in with after you spend the lent money. Note that this means they basically created money, which is a right reserved to Congress under the Constitution.
Damn the law to Hell; laws are for little people, not the all-powerful banksters.
The only real lending market where capital is actually lent out is the “hard money” market. That’s where angel investors and similar lend out their own accumulated capital — money they actually have. They tend to charge a metric crapload for that privilege too, and with good reason — it’s their money, and if you don’t pay it back (with the interest) they lose actual funds they have first spent the time and effort to accumulate.
But Bain, and the rest of these guys, don’t work under that model. Instead they tap the bankster credit facilities, which are nothing other than counterfeited funds — albeit legally counterfeited. This is a predatory system that is guaranteed to screw more people than it helps — it simply must, because every dollar of unbacked credit that is emitted dilutes the value of every other dollar in the system. At the same time the interest charged must be generated — with those devalued dollars.
This scheme appears to work for a while; like all pyramid schemes the first people who get involved make out well. And who are the “first people”? The banks, of course, who are the ones that created the funds with the push of a button. The late-comers, in this case the companies, their employees and the follow-on activity that must pay the debts are another matter. Sure, sometimes the gambit works but only if the leverage game continues to pyramid.
Unfortunately the mathematical law of exponents says that any two (or more) compound functions, where one exponent (growth rate) is larger than the other, must always run away from one another. When the debt taken on grows faster than economic outputdisaster must always come. There is nothing mystical or difficult to understand about this fact, and it is why “hard money” lending always comes with extremely high interest rates or major equity stakes on the table, because it’s the only way that the transaction makes sense for the lender.
We deceive ourselves when we allow banksters to tell us that we “should” be able to “borrow” $40,000 to buy a car at 1.9% for six years. We’re not borrowing anything that was already earned; we are instead using an institution with the legal permission to counterfeit the nation’s currency to obtain that dramatically-below-market rate. We then kid ourselves into believing that this is a “good price” for the money allegedly “borrowed.”
The truth is that no borrowing actually took place at all. What happened was that we diluted our own standard of living when that credit was created by increasing the denominator of credit and currency in the system. In effect we stole all of the value we “borrowed” from ourselves and everyone else in the economy at the time of the origination of the “loan” and then we foolishly agreed to pay even more to the shark who we granted the legal privilege of destroying our wealth.
Bain was just a manifestation of a corrupt system that nobody wants to actually talk about, for if we did talk about it there would be a revolt by the taxpaying population the next morning.
After all, how else can you explain this chart?
Where did that credit come from? Remember, every dollar of that credit spends just like a real, earned dollar, and every dollar emitted as credit debases every other dollar already in the system.
So again: Bain was loaned what, exactly?
Let’s have some intellectual rigor, shall we?
And by the way, for those politicians who claim they’re for “sound money” — until and unless you actually get into the meat of this issue and explain what you’re going to do about it, you’re lying.
(Reuters) – The Treasury Department and Federal Reserve were blindsided and angered by New York’s banking regulator’s decision to launch an explosive attack on Standard Chartered Plc over $250 billion in alleged money laundering transactions tied to Iran, sources familiar with the situation said.
By going it alone through the order he issued on Monday, Benjamin Lawsky, head of the recently created New York State Department of Financial Services, also complicates talks between the Treasury and London-based Standard Chartered to settle claims over the transactions, several of the sources said.
What’s complicated here? The facts appear to show that the bank didn’t give a damn about what the United States law said or what regulators thought. That’s what the email context appears to demonstrate.
Treasury and the US Government in general have a long history of looking the other way and simply imposing tiny fines and hand-slaps for conduct that would land any other entity in front of a court on felony charges. Just try doing business with blacklisted Iranian firms yourself and see how fast you get locked up!
The law either applies to everyone or it is a joke. We have myriad examples over the last few years of “handslap” sorts of fines imposed for conduct that were you or I to engage in it would earn us a long and very unpleasant date with Bubba in a nice gray cell.
A spokesperson for the Federal Reserve said it had been working closely with various prosecutorial offices on matters involving Iran and other sanctioned entities, but could not comment on ongoing investigations.
White House Press Secretary Jay Carney said the government takes alleged violations of sanctions “extremely seriously” and the Treasury remains in close contact with federal and state authorities on the matter. The Treasury declined to add to that comment.
Obama’s administration, like Bush’s before him, have done exactly nothing about all the various and blatantly apparent violations of the law by financial institutions. There are only two sanctions that work when it comes to corporations — you either jail the people involved (literally) or you revoke or suspend corporate charters. Any sort of monetary penalty is ineffective because it is just passed through to customers; this is particularly true when the firm involved is considered “essential” in some way — such as a bank or pharmaceutical company.
Proof that these “fines” do not deter behavior comes in the fact that despite consent decrees and agreements not to offend again virtually all of these firms are in fact recidivists; worse is that most are three-time losers which for ordinary people exposes them to “three strikes” laws that imprison them for life.
New York is right and the US Government and Fed are both not only wrong, they’re willing co-conspirators.
Barofsky: ‘Geithner Admitted To Us Privately That Obama’s Housing Policy Was DESIGNED To Sacrifice Homeowners In Order To “FOAM THE RUNWAY” For The Banks’
This is a doozey…
More secrets revealed about Geithner’s penchant for protecting Wall Street. From a July 24 appearance on MSNBC’s Morning Joe, that left the panel stunned in disbelief.
I bet Tim wishes he didn’t throttle Barofsky that one day…
Neil won’t stop torching the Treasury Secretary, everywhere it seems. I’ve got at least 10 Barofsky clips from the past week. Granted, it is a book tour, but praise the Rain Gods,because Geithner is being torched early and often by the ex-SIGTARP with a massive chip.I’ve written it before. Geithner tried to bully the wrong dude. As a general rule, it’s probably best not to threaten former Federal prosecutors. Exposing scumbags like Geithner is Acapulco beach-side, Dos Equis drinking, leisure and vacay to Barofsky, who dealt with death threats from Mexican and Colombian drug lords as a normal part of his old gig.
Neil Barofsky Transcript:
Some of the other goals that Congress insisted so that TARP could get passed, things about preserving home ownership and helping deal with the foreclosure crisis, promises that were made by Treasury that were later abandoned. You have a housing program that was supposed to spend $50 billion to help struggling homeowners. And as I detail in the book, Geithner admitted to us that it was really more about, in his words, “foaming the runway” for the banks. And the result? A program that to date has spent around 3 of the 50 billion dollars.
What he said was that the banks could handle a certain number of million of foreclosures over a certain period of time and any more than taht would put them in jeopardy, and this program would help “foam the runway,” help stretch out the foreclosure crisis. And that’s why more money has been spent, more TARP money went to American Express, a credit card company, than went to help all the struggling homeowners.
The HAMP bait-and-switch that Geithner organized inflicted real pain on real Americans:
The most disturbing parts of Barofsky’s book are stories of Americans who were made worse off by Obama’s bailouts. One California business owner who could have sold his house at a loss, but maintained some savings and his credit history, was enticed into a HAMP trial modification that was supposed to cut his payment in half. Instead, thanks to HAMP, he lost his house, his savings, his credit and his business.
Keep this in mind while Obama prattles on about his undying support for the middle class.
UPDATE - The online petition was started 2 weeks ago, already has more than 650,000signatures, and is growing by 1,000 names every few hours.
Though focused on criminal EU bankers, the signatures are global in origin.
Jon Corzine, your time is coming…
Big banks have been caught in a massive scam to rig global interest rates, ripping off millions of people on their mortgages, student loans and more! We’d go to jail for this, but Barclays bank has only been fined, and just a fraction of their profits! Outrage is mounting — this is our chance to finally turn the tide of the banks’ reign over our democracies
And here’s another:
h/t Daily Bail