TBTF

Financial Crash will be Put On Little People [w/ Video]

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BrownGreg Hunter – Public banking expert Ellen Brown thinks big banks will be saved from a coming calamity at the expense of the little people. Brown explains, “I think the big banks won’t go down. They are protected by the bail-ins, which we haven’t yet seen in the U.S., but we’ve seen them in Europe starting in Italy.

They did them starting last year. There were four small banks that got bailed-in . . . they took deposit accounts where they got some interest, and they were called bond holders. So, they took the bond holders’ money. They were really just ordinary depositors that thought they were making a little interest. There was one man who committed suicide because he lost his whole 100,000 euros. He pinned a sign to his chest and blamed it on his bank.

http://youtu.be/ySvacUZcQL8

The effect of the bail-ins in Italy was, rather than stabilize the banks, it destabilized the banks. Depositors in Italy were pulling their money out. It seems to me that the way things are playing out, the banks will be kept in place by governments because of this fear of the collapse of this derivatives scheme. Who will be hurt? It will be the little people. So, we will see a crash, but it will be a crash on us. We will lose our deposits or we will have to do a bail-in. The big banks, under the current law, are pretty much safe.”

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Silver is Kryptonite to Gold Cartel Bankers [w/ Video]

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Greg Hunter – Chairman of GATA (Gold Anti-Trust Action Committee) Bill Murphy thinks financial markets are way more vulnerable than they appear. Murphy explains, “There are negative interest rates and low interest rates that just keep staying down there, and supposedly things are really good.  Look at our Dow at all-time highs, and yet something is really wrong.

Of course, this fits into the GATA premise on this whole thing.  There’s a lot of quantitative easing (money printing) and propping up of the markets, and it’s on very shaky ground.  The plug could be pulled at any time. . . . With interest rates where they are and debt growing all over the place, the reasons to be in gold are off the charts.”

http://youtu.be/Y7kiB5KSp48

Murphy says “silver is Kryptonite to central bankers” because there is little supply to use in the cartel’s suppression game.  Murphy says, “You mention the word Kryptonite and the key is what silver is doing.  It is an extraordinary situation right now. . . . It seems to me that, this year, silver is in play . . . . That is this big money talking on the JPMorgan crowd and their game.  They are gradually moving in for what I think is going to be one of the biggest market moves in history, and that is silver going to $50 (per ounce) and then a $100 (per ounce).

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Astonishing report from the Fed says US banks are not “sound”

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cashSimon Black – Late last week, a consortium of financial regulators in the United States, including the Federal Reserve and the FDIC, issued an astonishing condemnation of the US banking system.

Most notably, they highlighted “continuing gaps between industry practices and the expectations for safe and sound banking.”

This is part of an annual report they publish called the Shared National Credit (SNC) Review. And in this year’s report, they identified a huge jump in risky loans due to overexposure to weakening oil and gas industries.

Make no mistake; this is not chump change.

The total exceeds $3.9 trillion worth of risky loans that US banks made with your money. Given that even the Fed is concerned about this, alarm bells should be ringing.

Bear in mind that, in banking, there are three primary types of risk, at least from the consumer’s perspective.

The first is fraud risk.

This ultimately comes down to whether you can trust your bank. Are they stealing from you? Continue reading →

Financial Predators And Parasites Want To Live, Regardless Of The Cost

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financialCharles Hugh Smith – The problem with optimizing private gain by any means available is you also optimize financial predators and parasites. The problem with optimizing a system for centralized power (i.e. the federal government and Federal Reserve) is that you also optimize regulatory capture, influence-peddling and the unholy marriage of wealth and power.

Optimization is a key principle of all technologies. Though the political class claims perfection is possible (with just a few more regulations and laws, heh), engineers understand every system is a series of trade-offs. If you want to optimize one output, everything else in the system is rendered secondary.

The master narrative of the status quo is that maximizing private gain by any means available is good because to get rich is glorious: the goal of getting rich motivates entrepreneurs to do wonderful things that benefit humanity while they amass vast fortunes.

This is the happy propaganda story, and we all know the few outliers who are endlessly trotted out to “prove” its truth: Steve Jobs, the Larrys (Ellison and Page) Bill Gates, et al. Nice, but the handful who fulfill the propaganda version of optimizing private gain by any means available only succeeded because there were no powerful vested interests in their way.

What our system actually optimizes is the assembly of vested interests that buy protection of their racket from the state. These vested interests include wealthy individuals, corporations, cartels and public unions.

Want to earn a 1,000% return on your investment? It’s very difficult to do so by producing a good or service. By any measure, the easiest, lowest-risk way to earn a 1,000% return on your investment is to buy political protection with lobbying and campaign contributions. Continue reading →

Banks Fined Over $5 Billion For Criminal Activity, Did You Get Any Of It?

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governmentSimon Black – [On May 20, 2015] it was reported that some of the largest banks in the world were slammed with yet another stiff fine by the United States government.

This time it amounted to roughly $5.7 billion, after the likes of JPMorgan, Barclays, Citigroup and RBS admitted to criminal wrongdoing in years of manipulating currency markets.

The word “crime” is derived from the Latin word crimen. In their day, Romans were incredibly creative at dealing with their own criminals: crucifixion, torture, beheadings, were all commonplace. Some people were put into sacks with wild animals and then thrown into the river.

The bankers being charged now had spent years abusing the public trust.

They traded against their own customers for personal gain; they used sensitive information entrusted to them to manipulate markets; and now, all they’re going to get is a fine and a slap on the wrist.

It’s unlikely that anybody is going to go to jail, or that any individual will be held accountable—except for potentially a token scapegoat. Continue reading →