OUR ENEMY THE BANKS

Lets talk about banks. Nationally and internationally.

 

They have become too big. Too big to control. Eventually they will totally dominate and/or destroy society as we know it. Unless reigned in.

 

Recall the mortgage foreclosure crisis of 2008-9. People put out of their homes.

 

The crisis in the first instance was caused by the banks themselves.They got greedy. The banks were loaning money without credit checks. They were loaning money at more than the value of the property. The banks wanted to get as many homes on their mortgage books as they could and then turn them over to another entity almost immediately who in turn bundled them and started trading them. Just like stocks. A major insurance company even insured the transactions. Everyone was eating big!

 

Most banks lied and cheated about many aspects of the mortgaging and foreclosure process. The insurance aspect following foreclosure was fraught with fraud. Involved also were improper file reviews and kick backs. In addition to other machinations.

 

If the entity who loans the money is not paid, that entity goes under as well as the person who borrowed the money. That is the normal way. Not with the banks, however.

 

We were told the banks were too big to fail. The national and international economies would fall if the major banks took a hit.

 

So the United States bailed the banks out. Big bailout dollars. Taxpayer dollars.  As a result thereof, the banks survived. They invested the bailout dollars rather than loan the monies to the American public. The banks made tons of profit. Bank CEOs began to receive any where from $10 million to $40 million in bonus'. At the same time that the American people were experiencing the worst depression since 1929.

 

No bank or banking official was ever arrested, indicted, charged, or brought to trial, for any of the criminal misdeeds involved.

 

From too big to fail to too big to prosecute. Then and now.

 

Recall the very recent HSBC scandal. HSBC is a British bank. One of the largest in the world. The bank has many offices in the United States. The U.S. bank got itself involved in money laundering. Primarily drug cartel dollars from Mexico and Columbia. Illegal. Nevertheless, HSBC did it. Involved was $200 trillion. Many times more than our national debt. HSBC received a monthly profit in the area of $1.9 billion.

 

The United States government caught them. HSBC was investigated upside down and inside out for its involvement. The investigation was conducted at the highest level of government. Attorney General Holderfield spearheaded the investigation.

 

A deferred prosecution agreement was entered into between HSBC and the United States. HSBC admitted its wrongdoing. Agreed to pay one month's profit of $1.9 billion as a penalty. And promised to sin no more.

 

Attorney General Holderfield took the position that the national and international ramifications of criminal charges would hurt the world economy. He suggested the matter was too complicated because of the size of the banks to proceed beyond the deferred prosecution agreement. In effect, HSBC was too big to prosecute.

 

Now comes Cyprus. Cyprus has been front page news the past two weeks.

 

The problem confronting Cyprus has to do with the euro, the euro bank, the European Central Bank, and many other banks. Cyprus owes money to the euro nation bank. It cannot meet its payments. The euro bank says pay up. The alternative for Cyprus is bankruptcy. Imagine, a country going bankrupt!

 

Involved is some $12 billion. Cyprus says help. We need a bailout. The euro bank says ok. BUT Cyprus must come up with the first $7.5 billion.

 

Cyprus did not have the money and could not come up with it. The euro nation and bank arrived at a solution. They wanted Cyprus to levy/tax all bank deposits in Cyprus a certain percentage. Cyprus was told just take the money out. In effect, screw the depositors.

 

This insane idea by the euro bank was subject to Cyprus' legislature approving it. Good luck! The people were in the streets immediately protesting! The legislature voted no with not one positive vote being registered.

 

The problem still exists. Cyprus banks have been closed a week already. They are scheduled to open next Tuesday (this past Tuesday) assuming some arrangement is made regarding grabbing the money from depositors' bank accounts. The percentage is being discussed. The only banking service available to Cypriots presently are the ATM machines.They are still being loaded with cash. People are standing in long lines to take their money out at the rate of 500 euros a day.

 

Grabbing the bank accounts is the euro nation and euro bank's way to get paid. Perhaps the only way.

 

Bankers in the last 20 years have become bad people. They have acquired too much power. They have become a world unto themselves. More powerful in many instances than even the United States.

 

Banks have historically been frowned upon. Christ threw the money changers out of the temple. Shakespeare wrote of Shylock.

 

If, and it is a huge if, the banks have their way with Cyprus and depositors' accounts, the calamity will spread. If permitted in one place, it can be done every where. It would not surprise me in due course to see American banks do it to their depositors for one reason or another.

 

Therein lies the danger. Taking money from a depositor's account will become a spreading cancer. American banks are saying never in the United States. I do not believe them. 

 

Let me share the thoughts of some famous persons regarding banks. The quotes speak for themselves.

 

Thomas Jefferson said, "If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks...will deprive the people of all property until their children wake up homeless." Jefferson also said, "I believe that banking institutions are more dangerous to our liberties than standing armies."

 

John Adams was of the opinion that "...banks have done more injury to religion, morality, tranquility, prosperity, and even wealth of the nation than they have done or ever will do good."

 

Finally, Lord Action crystallized that which faces us: "The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks."

 

Be vigilant, my friends.