Tags
Balloon ready to pop, Bank, Bank of America, Banking, Economy, Finance, Financial Collapse, Late-2000s financial crisis, Loan, Money laundering, Nazism, President of the United States, TBTF, Thieves, Too Big To Fail
So you think the big banks do good things for society, like loan money to Main Street, right?
Ha!
Actually…big banks no longer do very much traditional banking. Most of their business is from financial speculation. For example, less than 10% of Bank of America’s assets come from traditional banking deposits. Instead, they are mainly engaged in financial speculation and derivatives. (and see this)
Since they were bailed out by taxpayers, the big banks have slashed lending … while smaller banks have increased lending. See this, this and this.
According to Thomas Jefferson, “Banking Institutions are more dangerous to our liberties than standing armies”
To prove Jefferson’s point that there is NOTHING you can trust about big banking, the “Too Big To Fail” gang is guilty of:
- Financing illegal arms deals, and are funding the manufacture of cluster bombs (and see this and this) and other arms which are banned in most of the world
- They launched a coup against the President of the United States
- Handled money for rogue military operations
- Laundered money for drug cartels. See this, this, this and this (indeed, drug dealers kept the banking system afloat during the depths of the 2008 financial crisis)
- Shaved money off of virtually every pension transaction they handled over the course of decades, stealing collectively billions of dollars from pensions worldwide. Details here, here, here, here, here, here, here, here, here, here, here and here
- Artificially suppressed gold prices
- Charged “storage fees” to store gold bullion … without even buying or storing any gold . And raided allocated gold accounts
- Committed massive and pervasive fraud both when they initiated mortgage loans and when they foreclosed on them (and see this)
- They pledged the same mortgage multiple times to different buyers. See this, this, this, this and this. This would be like selling your car, and collecting money from 10 different buyers for the same car
- Cheated homeowners by gaming laws meant to protect people from unfair foreclosure
- Committed massive fraud in an $800 trillion dollar market which effects everything from mortgages, student loans, small business loans and city financing
- Manipulated the hundred trillion dollar derivatives market
- Engaged in insider trading of the most important financial information
- Pushed investments which they knew were terrible, and then betting against the same investments to make money for themselves. See this, this, this, this and this
- Engaging in unlawful “frontrunning” to manipulate markets. See this, this, this, this, this and this
- Charged veterans unlawful mortgage fees
- Helped the richest to illegally hide assets
- Cooked their books (and see this)
The executives of the big banks invariably pretend that the hanky-panky was only committed by a couple of low-level rogue employees. But studies show that most of the fraud is committed by management.
Indeed, one of the world’s top fraud experts – professor of law and economics, and former senior S&L regulator Bill Black – says that most financial fraud is “control fraud”, where the people who own the banks are the ones who implement systemic fraud. See this, this and this.
- A huge portion of the banks’ profits comes from taxpayer bailouts. For example, 77% of JP Morgan’s net income comes from taxpayer subsidies
- The big banks are literally killing the economy … and waging war on the people of the world
- And our democracy and republican form of government as well
Related articles
- 25 Mind-Blowing Crimes Committed By Big Banks (dprogram.net)
- Stunning Crimes of the Big Banks: Worse than Your Wildest Imagination (washingtonsblog.com)
- Money Laundering Control Act Is it As Good As It Seems (acefinance.me)
- General Conspiracies – Re: Stunning Crimes of the Big Banks: Worse than…. (disclose.tv)
- Are Big Banks Criminal Enterprises? (ritholtz.com)
- BuzzFlash on Money Laundering and Treason (seniorsforademocraticsociety.wordpress.com)
- Are Big Banks Criminal Enterprises? (washingtonsblog.com)
- How London became the money-laundering capital of the world (ianfraser.org)