Zero Prosecutions of Elites for Most Destructive Frauds in World History-William Black
By Greg Hunter’s USAWatchdog.com
White collar crime expert Professor William Black thinks the nation’s top bankers continue to get away with massive financial crime. The most recent $10 million fine of former Bank of America CEO Ken Lewis for fraud illustrates the ongoing problem. Professor Black says, “He’s not paying $10 million. Bank of America is paying the $10 million. So, he could care less, and he didn’t have to admit anything. And, unlike the typical Securities and Exchange settlement, he didn’t have to agree not to disparage the settlement. So, immediately he disparaged the settlement as a bunch of junk that wasn’t true. . . . In this case, the fact came out that Lewis testified, the subject of this complaint was allegedly securities fraud at hiding the losses at Merrill Lynch which was acquired by B of A and said hey, it’s not me, it’s Ben Bernanke and Hank Paulson . . . who ordered me to cover this up. Professor Black goes on to say, “So the web is very tight and very protective of all these people, and they will trade off any amount of money in settlement that will be paid by the bank to insure the officers, even the ex-officers never have to pay and never are prosecuted. Even today, we are well into 2014, and the Department of Justice record is intact. There have been zero prosecutions of the elite officers who led the epic epidemic of fraud. It was the most destructive in world history, zero of them even unsuccessfully prosecuted, much less prosecuted.”
On JPMorgan’s involvement with the $65 billion Madoff Ponzi scheme, where the bank paid $2.5 billion for restitution and to settle fraud charges, Black says, “This was dirty as all hell. If it had come to a trial, instead of JPMorgan settling on this, it could have blown them completely out of the water.” Professor Black contends that it’s not just JPMorgan, but many big banks committing rampant unprosecuted criminal fraud, and he says, “In all these civil fraud cases, which are now in the scores, the Justice Department and the Federal Housing Finance Administration and the various home loan banks have brought, all of those actions could have been brought as criminal prosecutions. . . . Only the Justice Department can bring criminal cases, and they have absolutely refused. . . . The bigger news is they are simply not investigating any of the big guys. They are only looking not just at minnows, but pan fried or small cases.”
On the LIBOR rate rigging fraud by the world’s 16 biggest banks, Professor Black says, “This is the largest cartel in world history by orders of at least three and probably four orders of magnitude. This is LIBOR, the London Inter-Bank Offered Rate. This is price fixing of this rate that is then used to set the price of over $300 trillion in financial product. A trillion is a thousand billion. This is massively bigger than the real economy. In order to fix this rate, all the banks not only had to agree to form a cartel and cheat the rest of the world, but had to do so for years. If even a single one of them had defected, and made it public, the whole thing falls apart. . . .And guess what, our old friend JPMorgan is back as one of the entities that engaged in this fraud.”
On the rash of banker deaths and suicides, Black states, “We don’t know, but we do know one of the recent ones abroad had told people he had feared an investigation of his role in Deutsche Bank. The reason we are into these stupid rumors and such is the failure to do real investigations of the large entities and real investigations as was done in the Savings and Loan crisis. It was even done in the Enron era. We haven’t mentioned the obvious, and that is big finance is the leading financial contributor to both parties.”
What is the result of massive rampant unprosecuted fraud? Professor Black says, “If you don’t have any accountability, you not only make certain that there is going to be a next blow-up, but it will be worse. . . . We have effectively removed the criminal laws for a particular elite class of frauds.”
Join Greg Hunter as he goes One-on-One with Professor William Black of UMKC.
(There is much more in the video interview.)
After the Interview:
Black says he’s working on a couple of new books. One is about former Nobel Economic Prize Winners. (Black does not have a title for this yet.) Professor Black says, “This is the only field you can win a prize for not only being wrong, but spectacularly wrong, that causes devastating harm to the world.” The other book is about reinventing government and is called “Wrong Turn.” You can check out articles by Professor Black at NewEconomicPerspectives.org
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About the Author
Greg Hunter
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.
thank you greg, it’s a blessing what happened to you. you actually get to do the job that you were meant to do and we get to hear the truth. In a revolution the first to go are the lawyers! look at the history. And sometimes these so called ellites have to throw somebody under the bus, madoff, guilty, yes. it gives us a feeling of justice. you would think that after hearing such an eye opening interview, why do people continue to have anything to do with such banks? we can fight back. just quit their game! there are more of us then them. think outside the box.
Thank you Bob. I do not have to pretend there is not a huge problem facing us all as my old friends in the MSM are forced to do. My experience showed them if you speak up you get let go. My friends have written me and told me they all now know I was spot on with my warnings in 2008. This has gone on a very long time but reality is going to hit everyone in the face like a frying pan of hot grease.
Greg
Secret NSA transcript of producers meeting in secret CNN under ground bunker
“Why didnt any of you clowns predict this drastic downturn? Here we have all of you on the pay roll and all of you were blind sided by this depression. How come none of you dumba$$ didnt see this coming?” boomed an irate CNN VP
A middle-aged woman raises her hand. “What?” said the VP
“Well, there was one person who predicted all of this and had great ratings.”, she said.
“Who the hell was that?” the VP asked
“Greg Hunter”, the producer replied
The room fell silent as everyone knew what it cost
him to be right and “see it coming”.
@@@ if there is any resemblance of this to fact it just means that one person at CNN would have been brave enough to tell the truth @@@
Hi Greg
I haven’t posted for over a week as I have been away on a cattle trip.
Still followed your site though on my cell phone.
Two things haven’t changed in that time and I am certainly not holding my breath.
#1 The US is still being run by a couple of deranged, moronic warmongering lunatics.
#2 The Fed just rocks on relentlessly.
I quote from Thomas Jefferson – “IF THE AMERICAN PEOPLE EVER ALLOW PRIVATE BANKS TO CONTROL THE ISSUANCE OF THEIR CURRENCIES, FIRST BY INFLATION AND THEN BY DEFLATION, THE BANKS AND THE CORPORATIONS THAT WILL GROW UP AROUND THEM WILL DEPRIVE THEIR PROSPERITY UNTIL THEIR CHILDREN WILL WAKE UP HOMELESS ON THE CONTINENT THEIR FATHERS CONQUERED’
– just imagine if the US had a President even approaching this sort of vision and intellect in office today.
I am in total agreement with Prof Black.
The criminality and moral hazard issues that exist in our current central banking models just simply defies all logic. The fact that the most influential central bank [The Fed] is owned and operated by a private banking cartel, also defies belief. How could anyone allow this evil and unconstitutional model to exist at all, let alone survive for 100 years.
I will say this again too – don’t bother trying to fix anything financial in America, or the world for that matter, until this institution is disbanded.
JFK had the right idea with his executive order 1110.With a stroke of a pen he declared that the Fed would soon be out of business. This new currency was to be debt free and backed by silver held in the US treasury. Tragically within months of him signing this EO he was assassinated. LBJ hurriedly revoked this order and no-one got to see a new currency undermine the stranglehold of the Fed.
The whole world is being held to ransom because we don’t have the guts and the where-with-all to challenge the Fed.
How sad is this!
Cheers
Col
I just received critical information about airplane flight 370 The landed still alive.
I have great news for those poor families. The 320 passengers or so passenger are likely still alive and yes in Diego Garcia since an IBM executive from the plane was able to hide his cell phone until he was able to send a message through voice command along with a picture. The picture though black has GPS encoding technology embedded in it along with date and other information. See full information on jimstonefreelance.com
Please pas on this information so that these poor souls can be made free again. Not from Al Qaida but from our own US gov’t.
Thanks for post pure unadulterated Bull feces.
– so it is a huge crime scene – USA today…
– amazingly “useless” population….
Idiots, American Idiots…gonna get what you deserve…?
All the illegals, they do not have a clue, that is why they are let to walk in while we have terrorist alerts… so many differesnt cutures brought in to Divide and Rule…who can organize when you can’t even speak their language, and most are so poor they couldn’t give a damn, they just want to eat and must live on peanuts…
Banksters are gansters of finance. People that grew up on Godfather movies must think this is all normal behaviour…
America – u r done in. Move away soon, or suffer more….
Where r these trolls coming from?
Dude
ImHO mercs is not a troll.
I think he meant .
What’s next? A broadcast from the face on Mars?
Welcome to the former republic of the United State of America
“pOWER _cORRUPT’ES_aND_ aBSOLUTE_ pOWER_ cORRUPT’ES,_ aBSOLUTELY”!
Absolute Vodka
I’ll drink to that
Thanks Greg, always enjoy William Black – his tales of corporate crime make my jaw drop. Corruption runs very deep when the law turns a blind eye. Hopefully this will only speed up the loss of confidence in the system and the fall of the Government.
Adding to the crimes, I have compiled (from Wikipedia and other sources) a list of 47 wars started by America since 1950 alone. The list of names of those murdered by the US would extend for approximately 100,000 pages. This pure evil comes with names like “Operation Enduring Freedom” and “Operation Restore Hope”. Under this global “leadership” of America it is no wonder that the world is in deep, deep trouble. Finally, I note that Gerald Celente is starting a peace movement “Occupy Peace” and I hope that every sane person can support him (or a similar movement in their own country). We also need to build peace monuments and museums and hold an annual, global peace march.
Puerto Rico (1950)
Korean War (1950 – 1953)
Indochina War 1 (1950 – 1952)
North Korea – Economic (1950 – present)
Czechoslovakia (1953)
Vietnam War (1953-1975)
Indochina War 2 (1953-1975)
Congo (1960 – 1965)
Cuba (1961)
Cuba – Economic (1962 – present)
Colombia (1964 – present)
Dominican Republic (1965 – 1966)
Bolivia (1966 – 1967)
Korea (1966 – 1969)
Cambodia (1970 – 1975)
Afghanistan (1979 – 1989)
Iran – Economic (1979 – present)
Libya 1 (1981)
Lebanon (1982-1984)
Grenada (1983)
Libya 2 (1986)
Syria – Economic (1986 – present)
Iran (1987 – 1988)
Libya 3 (1989)
Panama (1989 – 1990)
Iraq War 1 (1990 – 2000)
Operation Restore Hope – Somalia (1992 – 1994)
Bosnia (1993 – 1995)
Operation Uphold Democracy – Haiti (1994 – 1995)
Operation Infinite Reach – al Qaeda (1995 – present)
Burma – Economic (1997 – present)
Kosovo (1998 – 1999)
Libya 4 (2000)
Afghanistan (2002 – present)
War on Terror (2002 – present)
Sudan – Economic (2002 – present)
Liberia (2003)
Iraq War 2 (2003 – 2011)
Pakistan – Taliban (2004 – present)
Somalia (2006 -2007)
Operation Enduring Freedom – Africa (2007 – present)
Yemen (2010 – present)
Arab Spring (2010)
Libya 5 (2011)
Venezuela – Economic (2012 – present)
Syria (2013 – present)
Ukraine (2014 – present)
Fraser
Peace is a wonderful thing. And the moment you cant defend yourself, you lose the peace and any freedom you had. A lot of liberals here think you dont need a strong military to have peace, maybe you believe the same. The only way to have peace is to be able to enforce it. Unless you are willing to fight, you will never have peace unless you consider being a slave preferable to fighting.
500 – you talk about “self defense” – please name the last country to invade the US? Look, the US can have all the “self defense” it wants – by withdrawing its troops from around the world and having them march up and down the East & West coast and then across the North and South boarders. Then, after marching around for 10 or 20 years, they will finally realize that they only need 1% of their current forces and that they should put the money to better use. The fact that this will never happen makes a TOTAL MOCKERY of your “self defense” argument. Face facts 500, the truth is that Americans just LOVE starting wars and murdering millions of innocent people around the world!
yeah, but its all about how the military is used. As Smedley Butler pointed out, sadly, in most cases the military might of the nation is simply used to protect and extend the interests of very wealthy monopolists at the great expense of those sent to fight and at an even greater expense to those who host the conflict or “pacifying” action.
Agreed Brian, drop 500’s silly “self-defence” argument and face the historical fact. You word it as “to protect and extend the interests of the very wealthy monopolists”.
I would call it an “endless world war”, but never mind.
The point is that after starting 47 wars since 1950 and murdering millions of innocent people, all America has to show for it is a mountain of debt, a twisted and corrupt society and a hostile world that wants to see America die.
Having lived through this time period I can definitely state that the world is in decay and I humbly suggest that it is time to change course before it is to late – and try PEACE!
In total agreement with you. Our social conscience has been so deeply propagandized that we are getting to be as militaristic in our national character as the German Nazis.
Take a look at all the TV shows, movies and images that portray “our fighting men.” We never get around to asking what they’re fighting for…or better yet, WHO they’re fighting for.
People say “God bless our troops who are defending us.” Defending us from WHAT? The United States is the greatest scourge of world peace on earth and has been for years.
You don’t have to like that statement, you just have to disprove it or have the honesty to say you don’t care how many millions we kill destroying true democracy as long as the beer and games continue to flow.
This is the ugly face of what we are. A people who have allowed the shining light of liberty to become the red light of whoredom for power and greed. We will pay a heavy, heavy price for our indifference to others’ pain.
Greg, those two stories you linked regarding Russia decoupling from the Dollar and the Euro Bail-in’s and Bailouts are HUGE stories.
Regarding Russia, it’s just a matter of time before those useless dollars comeback to the US and cause inflation and it’s only a matter of time before the Chinese do the same and then everyone else will run for the exits to to unload their dollars.
The Euro Bail-in’s is another huge story as the Banksters see the writing on the wall and it says that the global monetary system is in it’s final days. When they implement the bail-in and bailouts in Europe you will see revolts taking place. It will encourage other Central Banks to do the same.
Eventually they will run out of taxpayer and depositor’s money to loot and then the entire financial system implodes around the world. Before the looting begins we will probably see Bank Runs around the world which in it of itself can cause the Bankster Ponzi scheme to collapse.
Greg, in one word, “scary”. What more can be said? Another great interview, albeit a sobering one. Can you think of any politician who wants to be president that has the fortitude to take on these people? I hope more and more people are preparing for what’s coming. Hard times are closer than imagined. Say a prayer and be prepared. Ingenium superat vires. Keep up the great work Greg.
Doug,
I don’t se how the economy can ever truly recover against a backdrop of massive unpunished fraud. The U.S. is just being harvested and our leaders are allowing it to happen.
Greg
Our “leaders” are probably not passive participants but are actively harvesting side by side
Greg I thoroughly enjoyed your interview with Professor Black. He has been on the Bank fraud trail for quite some time. He was one of the main whistleblowers for the Wall Street Banking scandal in 2007-2008. Unfortunately it doesn’t do any good to blow a whistle when no one is listening. Greg nothing is ever going to happen to these criminals. The entire Justice Department in owned by the Banking Cartel, and so is the main stream media. By the sheer fact that the MSM reported nothing about the umpteen Banker suicides should tell you who owns them. Greg I don’t think you left CNN, it looks more like an escape. 🙂
In computer terms, the Banking Cartel that destroyed our economic system. has infected the entire international Banking system with its corruption, putting all of the world economies at risk. But guess what? A new server is being put in place called the Juan. This past week China signed a new Banking agreement with Germany , and Russia, and Russia signed a 125 Billion dollar oil deal with China. The United States is being isolated, and its just a matter of time before the dollar loses reserve status. And for those of you who don’t know what that means, “no more money printing”. I guess Janet Yellen won’t have to worry about tapering. The world Banks will do it for her.
Yes Jerry, I escaped! That’s a good way to put it. Thank you for the comment.
Greg
Greg,
This quote is damning!
“Only the Justice Department can bring criminal cases, and they have absolutely refused. . . . The bigger news is they are simply not investigating any of the big guys. They are only looking not just at minnows, but pan fried or small cases.”
AG Holder can hardly bring charges against banker if the bankers can pay private investigators to research Holder’s and Obama’s crimes. Kind of hard to prosecute crimes when you yourself are a criminal.
Also covered was the banker suicides. Black brings out how in an information vacuum, people give credence to rumors. Please allow me to add that some will always give credence to rumors, even in the face of overwhelming evidence. I can point to some of the preposterous conspiracy theories posted here by people as if they were fact. When you have an opaque administration which is unlawful, it’s easy to believe the administration is up to no good.
Greg,
I appreciate the service you provide. Great interview. Dr. Black is telling the truth and isn’t letting ideology cloud his judgment.
“On the rash of banker deaths and suicides, Black states, “We don’t know, but we do know one of the recent ones abroad had told people he had feared an investigation of his role in Deutsche Bank. The reason we are into these stupid rumors and such is the failure to do real investigations of the large entities and real investigations as was done in the Savings and Loan crisis. It was even done in the Enron era. We haven’t mentioned the obvious, and that is big finance is the leading financial contributor to both parties.”
Thank you Geo. T. We are in a mess and our government is allowing it to grow and fester.
Greg
Greg,
Why do the shareholders not revolt against the leadership of these banks? People talking in a lunchroom about Madoff. One bank stops business and reports to UK regulators???
Then JP Morgan doesn’t supply Office of Comptroller of the Currency documents and the IG of Treasury goes to Department of Justice refuses to enforce subpoena? The Supreme Court rules that a defrauded person cannot bring action against people aiding the company that is committing fraud ??
YES…it is RICO! Were is the Justice? Were is the Justice department?
Just bringing median size California homes fraud? Either the Obama administration knew nothing or didn’t know until they read the civil action AND STILL DID NOTHING ?!? No Press conference??? Committing fraud is no barrier from being hired; as a matter of fact, it seems the more criminal behavior you engage in, the better jobs you get. Holder said to big to prosecute and then tries to talk it back. Justice for all…justice for none of the elites.
Rotten to the core. Race to the bottom. Insurance companies now shafting older customers with Obama’s blessing. Who knew that leaving the fraudsters in charge was the key to financial stability. Based on that, shouldn’t we pardon Madoff and put him in charge?
Accounting fraud will make you wealth without chance of prosecution and you don’t even have to pay the civil fine.
“We destroyed the global financial system but for hyper aggressive bailouts. ” It appears that Dr. Black is a Keynesian as he doesn’t believe in austerity (which is another word for spending within your means). If we have learned anything from all this it should be that anytime government intervenes, it warps the underling fundamentals whether it is school loans, cash for clunkers or Obamacare.
The neo-cons are running ah- muck! Conning us; as the lite headed “elites “, are out playing golf! One, is our “golfer in chief”, while the republic and the western world, go’s down the crapper! You’d think we’d all be in tears, but unfortunately it’s all too true, that our dear leaders have “no clothes” and anybody with a brain in gear knows by now, so you cant help but laugh and cry, ah-la “Paul Craig Roberts”, as this tragic comedy unfolds before our very, eye balls!
Putin handed us an olive branch last time. This time it looks as though the king of the North isn’t going to be such a nice, “RUSSIAN BEAR”!
Don’t these guys with even a smidgen of a brain, {NSA/CIA/STATE DEPARTMENT/John McCain/Mike Rogers}, know you catch more bears with honey?
I mean life will be bad enough with Fukushima, dead ocean, increasing cancer rates. . . so please guys, think of the kids. . . and please watch the film. . . . . . . . . . . . . . .
____________”THE _ BEDFORD _ INCIDENT”
S I D E N Y _ P O I T I E R _______R I C H A R D _ W I D M A R K
____Colin Maitland Martin Balsam Donald Sutherland
A message from the cold war to us in the new world disorder, economic cold war. . . . . . . . . . .
O n e Mistake And Were All Toast- “Powers That Aren’t”! Will your kids survive? I sure as hell don’t want it left up to you screwballs if mine do, LET GO AND LET GOD………….
The real “Power That Be”!
If interested in, “The Bedford Incident,” Please read the reviews for the film at Amazon.com. Google: The Bedford Incident @Amazon.com, click it, then click the DVD @ Amazon then click reviews, Thanks.
Dude
I can only conclude you own the rights of this movie. You should send us all a free copy
The neocons? It looks lime the socialist/communist to me. Mao said power comes from the barrel of a gun. Seems like Obama to me.
Does anyone want real proof that a new monetary exchange system is being put in place to replace the dollar? Here you go.
http://www.euronews.com/business-newswires/2426490-germany-china-say-renminbi-hub-in-frankfurt-will-boost-trade/
Greg someone always ask you about the timing. Does it really matter? They could collapse it all tomorrow with a simple key stroke. Knowing the timing will not change the outcome, if you have not prepared for it. Like they say a watch pot will never boil. But a pressure cooker? It can go anytime.
Jerry, you provide a very good insight. Sometimes I think the US and the Dollar are going to be allowed to just fade into irrelevance, as opposed to some abrupt on/off switch being thrown. Either way, the result is the same, as you point out, but maybe this gradual back-off is less dramatic and/or volcanic. Maybe. Best always. PM
Greg,
I wish you could have asked Dr Black about High Frequency trading. Its another way banks fleece their customers.
http://www.ibtimes.com/michael-lewis-flash-boys-exposes-shady-world-dark-pools-some-funds-have-already-pulled-out-1564881
William sure makes it very plain that the levels of corruption and fraud a way beyond anything that average citizens could ever imagine. So much for the old adage”crime doesn’t pay”. But big crime pays exponentially
Larry
it seems like it pays stupid money
You know there is absolutely NO hope for our global economic system when according to Mr. Black, we need corrupt individuals to keeping things together and from collapsing. It’s like the old saying, “the inmates are running the asylum”.
This type of financial corruption is worldwide both East and West.
You know, I just have to wonder, given the reality that not only is the justice department ignoring the crimes of the TBTF’s but might actually be cooperating with them in hiding their crimes I must wonder, what about some of these other agencies like the FDA? Is it not reasonable to wonder if perhaps some food additives or prescription drugs are not really as wholesome or beneficial as advertised? I mean is it fair to assume that the lawlessness on display in the financial sector of our society is confined and not running rampant elsewhere. How safe is our food, how safe is our air, how safe is our water, how can I trust the agencies charged with verifying such things when their sister agency is so negligent?
Brian. My thoughts exactly. I cant help but remember the hot mic Obama said he would have more leeway after the election. Obama is working with Putin to set up a oligarchy controlled fascist state.
AS crazy as it sounds, I think you are right and I would go one further. I think it was Jim Willie who pointed out hat this whole thing with Ukraine is a way of coaxing Putin into a position where the powers that be over here can hang the inevitable death of the dollar around his neck. When the dollar goes down the guys who made it happen do not want to be the only ones standing in the lime light, they want a foreign villain and a war to provide blame and cover for the decades of fraud.
When the government, with all its regulatory powers and control (ability to pick “winners”) colludes with the commercial interests (banks and corporations), the result is what is known as fascism, or more technically fascist socialism. This is the primary difference between communism and fascism: fascism controls the means of production and aligns it with the governments aims, while communism owns outright all means of production. In fascist-socialist situations, the appearance of a market economy is maintained. It is an attempt to keep the benefits of a “free” market, thus strengthening the government in its mission of control of social direction. It is an insidious approach, especially for those whose interests lie outside of the government’s chosen mission/direction. It is the best of all possible worlds for those on the inside. It doesn’t take much to figure out which group you’re in. Best always to all participants here on the Watchdog forum.
Greg, I was wondering, do you think the EU (the powers that be) are telling the US one thing and planning another?
What I mean is that they can see a sinking currency and see aligning with Russia might be better for them. With all these NSA spying allegations etc. They see a chance to truly break away from US dominance. Could there be talk with Putin telling him ” yes we will tell the US what they want to hear, but we are done with that country”.
Then when dollar collapses they are in a much better position to hold there own.
What does the EU have to loose? Just a thought….
Thanks as always!!
Yellen says Fed pumping will continue. Gee what a surprise, no one saw that coming. Happy times at Wall Street.
Yellen Says Extraordinary Support Needed for ‘Some Time’
http://www.bloomberg.com/news/2014-03-31/yellen-says-extraordinary-support-needed-for-some-time-.html
Any one doubt Yellen’s commitment to easy money? She is the one who advocates NEGATIVE interest rates. Today she pulled a political stunt and talked about three people with employment issues http://www.washingtonpost.com/blogs/wonkblog/wp/2014/03/31/janet-yellen-goes-main-street/ claiming that the Fed and she were going to help them
Sadly I predicted this when she was appointed – check out the photo at the bottom of this blog post that I put in jest to show Yellen’s “commitment” to the workers. http://smaulgld.com/negative-interest-rates-and-janet-yellen/ She is going to use “policy tools” to help employment- Heaven help us!
Not for long Rodster. When the U.S. loses world reserve status, the world Banks will taper for us . Without reserve status we will become just another third world country printing money to stay alive. When prime hits 3% the party will be over and everyone will head for the exits.
I love William Black, and I must compliment you. Your interviews are becoming very popular. I have seen several links today, and for the second time this month, I have seen your interview posted at zerohedge.com. Bravo!
ABC/CNN’s short-sighted self-interest was definitely our gain.
Thank you Tuski!!
Greg
Your interviews are also regularly seen at Mike Maloney’s GoldSilver.com. Congratulations on another great interview. The only thing that disappoints me [not the interview, but the situation] is that the banksters are Teflon coated – nothing sticks; and no authority makes them accountable for their dodgy dealings. No matter how often their actions are referred to as being criminal, it’s like water off a ducks back to them. They appear to make no comment on the accusations. If someone called me a crim, at least I’d stand up for my actions – they don’t even bother, as if, “who cares, we don’t”.
tsuki is right about the quality and recognition of Greg’s interviews. SurvivalBlog has recently linked to USAWatchdog’s interviews with David Morgan, Dimitry Orlov, Jim Sinclair, and Paul Craig Roberts. The truth being revealed here is not only financial-related but very possibly survival-related.
Yes they are and they should be shared!
There is a great living archive of material here
Oops, I was incorrect. You are at Jesse’s Café Américain. A great site. You were at zerohedge.com last week.
Hi
So why does prosecuting crooks bring down the “too big to fails” and consequently the whole system? Don’t these banks have junior people ready to fill the positions?
Thanks
j joslin
So the Feds are working for the Foxes and We The People are the chickens. This is not sustainable…
THE OIL companies BOUGHT up farms every where in america by the thousands ,THEN they fired everyone,and put the land in the federal land banks and are collecting billions of tax payer dollars,then you have FOREIGN owners of the printing presses of americas money,and their using the undeclared cash to buy up the whole country,WITH OUR MONEY,then you have all the military contractors who are owned by the queen of england,america is being sold for peanuts,and it can’t be stopped,I smell WAR in the streets,THOMAS JEFFERSON warned this would happen,and no one cares………AND now america has decided to divide JERUSALEM,even after the LORD told them ,HE WOULD DESTROY everyone involved…..(we’ll see if anyone cares about FEMA DEATH CAMPS) thats where everyones going real soon…………..
Arizona, no I think you are mistaken, its not war in the streets you smell its the new American apathy, metrosexual, global minded not nationalistic, mama’s boy, two showers a day, video game fanatic, etc., you smell – and its stinks to high heaven, but that’s were we are and it won’t change, there is simply too many of them for us now.
Art. I agree with everything that you said…but it WILL change.
The change will be cataclysmic. None of this was in God and the earths original plan. Those who do not know what a sustainable lifestyle is, will not be sustained.
Many of us have realized the truth and are headed that way. Some of us may make it. However, only long enough to teach our kids and grandkids the right way. Then they will have to figure it out.
So sad, its very third world.
Dr. Black is a Keynesian as Geo T points out. The way most people sway on this site that requires some serious thinking. Dr. Black supports the FED pumping, at least to some level. He did not agree that a crash is iminent either as I understood him. He was mostly interested in discussing the criminals (his strong suite) bringing down our system. Come on, you guys and gals, how about weighing in on the Keynesian and FED printing. Dr. Black is not convinced of the usual line of thinking here. Once in a while I keep asking why the predicted crash keeps holding off. Something is buying more time? That makes me question the exact recipe for defense if you have limited resources and cannot do it all or do it with out hurting in the day to day world.
CB9…you get it. Value has always been earned in some manner. It takes effort, experience, wisdom, honesty and patience. A large share of Americans have none of these virtues going for them.
They are printing to buy more time…but you already knew that. They are kicking the pathetic and weak in our society more cake and circus…aca is so laughable, I could tell you several real-life stories from just the last week. Here is a “quick” one.
Woman calls our office. I have aca and I want treatment. Ok. What plan.? I bought bronze. Ok, you have a $5500 deductible. What does that mean? Means that you have to pay the 1st $5500 towards your treatment whatever it is before your aca begins to pay. WHAT!!! I DON’T HAVE $5500!!! Did you read your policy? Well, no…I just assumed that now that I had “IT” I would get healthcare…By the way, you need to make an appt. with your doctor (and pay him) to get treatment here. Then you can pay here (or somewhere else) to get that treatment , and only that treatment. I have these other issues as well. Then you will need to go back to your doc (and pay him) and get a scrip for that issue then come back and pay here for that issue. There is no more treating several issues at the same time like “before”. No one will treat you unless you pay. “You should really sit down and read just what you got. ”
Oh you got it (aca) alright. I could go on, but what’s the use.
Coal9
One of my favorite quotes id from Keynes. “End the end, we’re all dead”
From reading and studies in economics, I can only conclude that Keynes did not initially intend for his plan to run long term ( see above quote). I do believe that the only end to a managed economy is failure. Economies are such a complex system that no one can “manage” one and when you have government intervention you end up with bubble after bubble with a bigger bust in between. Take the electric car. The only reason they are bought is the big govt subsidies. Bill O’Reilly was talking up the Tesla. Greg, you can buy a GM (if you dont mind possible fatal flaws hidden…Yes, I like Ford) and drive it for ten years with routine maintenance. You cant do that to a Tesla. The current cost to replace the batteries is about half the hundred thousand cost of the car. And I can drive a GM as far as I want with just a few bathroom/ fuel stops. I like the idea of an electric car but it doesn’t fit my lifestyle or my wallet.
CB9
I’ll give you a date for collapse using multiple choice.
A. April 19th
B. July 1
C. 01/01/2015
D. Tomorrow
E. It doesn’t really matter
I’m going with E. Does it really matter? If you’re not prepared it won’t make any difference. If you prepare to early and nothing happens, people will call you a nut bag. But if you wait for a date, you’re going to be to late anyway . My advice. If you can’t handle criticism from your friends and family. Pick death. That’s a sure pick.
I like “E”
Jerry,
Suggesting suicide is going too far. You write well enough to not need such extremes of expression. The future may hold terrible consequences – enough I fear for people to understand your point; without being helped along.
Greg, another detailed and informative interview. Your work is like a flashlight peering at the six sides of the box the USA is in. Sadly, each illumination reveals yet more horrors. Horrifying, but necessary.
I am doing all I can to spread awareness of your site and these profoundly important interviews, sharing on Facebook and Twitter. I hope all of the members of the community forming here do the same.
The story of the young Canadian trading manager at RBC NY who exposed the inner workings of the HFT frontrunning is an eye-opener. He might make an interesting guest.
To learn that citizen victims of fraud by the Too Big To Be Prosecuted have no legal standing is disheartening, to say the least.
One thing I can say, as someone who lived amongst the American people for a good while, is that the “can-do” spirit will eventually rise again, as long as people take steps to protect their capital during the inevitable collapse. The USA will have to bootstrap itself again, and will need that investment capital. I am trying to be optimistic here.
One of the concerns I have had for some time is that while much infrastructure has been mothballed and can come online again, skills, once lost, are difficult to recover. Case in point: machine tooling. This used to be a thriving industry in Connecticut, and is no more. The deep skill sets that made this industry hum are retired. This industry is a basic manufacturing enabler: it makes the machines that makes the machines that make the products. My thesis is that loss of skills is a larger issue than the loss of capital. The collapse of the USD will mean unaffordable imports, even from China. If manufacturing is going to spring up out of the ashes, we will need domestically sourced products, and the skills needed to fabricate them.
Preservation of capital is important, which in the form of precious metals often espoused here takes care of one part of the equation. Necessary, but not sufficient. Skills are essential as well.
Carry on the fine work, Greg.
Noel,
you for your positive American comments. If enough people are awakened we just might make a changer for the better but many are sound asleep.
Greg
All this is reminding me of the 1968 Rolling Stone’s tune ‘Sympathy for the Devil’….no doubt Evil is running the show and there is no remorse or conscience what this is doing to others….
Greg
Black is an awesome guest. When you have someone of his stature, a former regulator, call out these people like Eric Holder for not only not doing their job but contributing to the fraud. Mr Holder is the AG of America and swore an oath to uphold the laws (and yes Eric, that means all the f’ing laws, not the ones you believe in) of the United States of America. Yet he isn’t following up on Fast and Furious, the IRS scandal, embezzlement on USPS purchase cards, and others.
Only in America can the banking business model be based on fraud. We have govt sanctioned accounting fraud and govt sanctioned theft by fraud…what could go wrong?
I appreciate you having Dr Black on again. He doesn’t seem to generate as many comments as the conspiracy theories but I love him because he gives you facts, not conjecture. There is no way we cant have a terrible crash. A bank based on fraud will fail, it has to. At some point, the fraudster runs out of other people’s money just like the socialist do. Its inevitable.
Greg, I wanted to extend my UPMOST appreciation for the guts that it took for you to shed light on the massive fraud and take the shot in the back that you did from the lamestreet media. I am SO SICK and tired of watching all cable media outlets day in and day out talk about all the irrelevant sensationalized crap, when the ” lions” are eating all of us mice apart. You are a TRUE patriot and I thank God for you. Bill
Bill,
Thank you. This is the best work I have ever done. I have a sense of purpose and folks like you keep me going.
Greg
When Joseph Smith ran for president in 1844, a pamphlet expressing his views (“General Smith’s Views”) was distributed across the nation. Probably penned by Phelps, the New York Herald described the document as “a very remarkable and original document…a more curious and unique thing has probably not been published since the time of Mohamet…” The following are some of Joseph’s positions*; they are worth reading for their striking humanity alone, born, no doubt out of his own deprivations:
“For the accommodation of the people of every state and territory, let Congress shew their wisdom by granting a national bank, with branches in each state and territory, where the capital stock shall be held by the nation for the mother bank: and by the states and territories, for the branches…which several banks shall never issue any more bills than the amount of capital stock in her vaults and the interest…[t]he net gain of the mother bank shall be applied to the national revenue, and that of the branches to the states and territories’ revenues. And the bills shall be par throughout the nation, which will mercifully cure that fatal disorder known in cities as brokerage; and leave the people’s money in their own pockets.”
Ken Lewis – BOFAML – “They made me do it”
This says it all. Bernanke, Geithner, Paulson controlled the Big Banks.
To me its all one massive Machiavellian Scheme. Take massive risks – with impunity if it fails.
My theory for non-prosecutions – If successfully brought against the Banking criminals it will undermine the whole financial system, because it engulfs all participants and destroys the fabric of Banking. It used to be the case that you got reward for taking risk and for making it pay off, but were severely penalised if otherwise. Seems its still applicable although the new twist is ZERO liability on the part of the CEO’s. This is what I call “Beautiful Banking”. You cannot lose. In fact the ones that do lose are the public. Banksters have a very high batting average.
Massive Fraud requires Accountability. Sure that’s fine in theory but let us consider the beast that we are fighting. $100mln in fines here, 20mln there…..huh…..lets just up the ante….more leveraged bets to offset the losses. Accountability has been attempted numerous times before with little success. If one actually cares to review the most recent history of regulation, it has become increasingly less onerous for those in power to adhere to laws applicable to all other participants.
This day and age is one in which Central Banking has evolved into central planning….where governments and regulatory bodies become superficial and superfluous appendages. At the point where the regulators lost their “teeth” , the army of Ivy League Scholars and ex-Banking Fraternity found their way into the elite positions within government. Common denominators are ex Goldman personnel. One can see with the benefit of hindisght that permitting the infiltration of these soldiers of evil into high office, has allowed the Evil empire to fester and sink its claws into the flesh of the vast economies of the world.
If I said what we find today is all part of the master plan…then I probably would be scorned upon. Nothing happens by accident. Especially in affairs of Money, Power and Control over the people. In some parts of the world we have attempts to ensure that capitalism reigns supreme while in others we have communism showing its hand. Is it possible that both could come together ?
Liquid Motion,
They have, China! Add, capitalism + socialism = Fascism!
Indeed !!
And the USA…what say you ?
Thanks Greg and Mr Black…. I enjoy hearing from this guy … he cuts right through the bullshit …..
Does anyone know how long this chirade can continue?
Nearly a quarter of youth unemployed in Europe.
Oil at over a 100 dollars a barrel consistently. food prices soaring, debt levels at all time highs YET LOndon real estate grows at 10 percent year and stocks at all time highs as Gold takes a nosedive? I mean this is bizarro world we are living in . Centrally planned and manipulated but still it holds together? Someone 3wake me when this nightmare 1984 orwellian state ends./
Thanks for the great work greg. You consistently get the best minds to spill their beans
and prove that I am not insane thinking what I am thinking
Karl, It’s hard to stay sane in an insane world. But try to think of the markets as a rubber band. You sometimes can stretch em beyond belief, but after awhile you realize, maybe it’s time to pull back,{get out}, for fear the backlash of a breaking rubber band can really hurt, or even take an eye out, s n a p! Smack, 0uch!
As the Gregster would say, don’t take chances, take delivery!
the next crash may take some time.even the msm talking heads say that the big money is on the sideline.so what is making the stocks rise?if the fed can print $4trillion to buy up toxic debt,what’s to stop them from printing pump up money.you should know by now that the entire system is rigged.they will remove the pump up money once the suckers move in.thats not what your biggest problem is though.the world has had enough of the exported inflation.countries the world over are dumping dollars.when this excellerates,look out.
Rick,
Just a thought. If big money is on the sidelines is it susceptible to a bail-in during a bank holiday?
Greg
nothing would surprise me anymore.
Greg,
Please read this letter to your audience:
Your Senator Doesn’t Want to Read This Email – lfb.org
March 29, 2014
Dear Laissez Faire Today Reader,
We came across this email the other day and knew it was something you had to see. It’s not an email from another reader. It’s a letter written by a person probably just like you. A person fed up with the way things are headed in the country. So he sat down and wrote to the people who were supposedly representing his interests in D.C.
See for yourself what he has to say. How much of this rings true for you?
A Letter to Two Washington Senators
This is a well-written, very articulate letter, written to two U.S. Senators from Washington State.
This letter is well worth the two minutes it requires to read; should be read by every American in the country.
April 3, 2013
TO: Senator Patty Murray
Senator Maria Cantwell
Washington, DC , 20510
Dear Senators:
I have tried to live by the rules my entire life. My father was a Command Sergeant Major, U.S. Army, who died of combat related stresses shortly after his retirement. It was he who instilled in me those virtues he felt important — honesty, duty, patriotism and obeying the laws of God and of our various governments. I have served my country, paid my taxes, worked hard, volunteered and donated my fair share of money, time and artifacts.
Today, as I approach my 79th birthday, I am heart-broken when I look at my country and my government. I shall only point out a very few things, abysmally wrong, which you can multiply by a thousand fold. I have calculated that all the money I have paid in income taxes during my entire life cannot even keep the Senate barbershop open for one year! Only Heaven and a few tight-lipped actuarial types know what the Senate dining room costs the taxpayers. So please, enjoy your haircuts and meals on us.
Last year, the president spent an estimated $1.4 billion on himself and his family. The vice president spends millions on hotels. They have had 8 vacations so far this year! And our House of Representatives and Senate have become America’s answer to the Saudi royal family. You have become the “perfumed princes and princesses” of our country.
In the middle of the night, you voted in the Affordable Health Care Act, a.k.a. “Obamacare,” a bill which no more than a handful of senators or representatives read more than several paragraphs, crammed it down our throats, and then promptly exempted yourselves from it substituting your own taxpayer-subsidized golden health care insurance.
You live exceedingly well, eat and drink as well as the “one percenters,” consistently vote yourselves perks and pay raises while making 3.5 times the average U.S. individual income, and give up nothing while you (as well as the president and veep) ask us to sacrifice due to sequestration (for which, of course, you plan to blame the Republicans, anyway).
You understand very well the only two rules you need to know:
1. How to get elected, and
2. How to get re-elected.
And you do this with the aid of an eagerly willing and partisan press, speeches permeated with a certain economy of truth, and by buying the votes of the greedy, the ill-informed and under-educated citizens (and non-citizens, too many of whom do vote) who are looking for a handout rather than a job. Your so-called “safety net” has become a hammock for the lazy. And (what is it now?) about 49 or 50 million dollars on food stamps — to pretty much all Democrat voters — and the program is absolutely rife with fraud and with absolutely no congressional oversight?
I would offer that you are not entirely to blame. What changed you is the seductive environment of power in which you have immersed yourselves. It is the nature of both houses of Congress, which requires you to subordinate your virtue in order to get anything done until you have achieved a leadership role. To paraphrase President Reagan, it appears that the second oldest profession (politics), bears a remarkably strong resemblance to the oldest.
As the hirsute first Baron, John Emerich Edward Dalberg Acton (1834-1902) [English historian and moralist], so aptly and accurately stated, “Power tends to corrupt, and absolute power corrupts absolutely. Great men are almost always bad men.” I’m only guessing that this applies to the female sex as well. Tell me, is there a more corrupt entity in this country than Congress?
While we middle class people continue to struggle, our government becomes less and less transparent, more and more bureaucratic, and ever so much more dictatorial, using Czars and Secretaries to tell us (just to mention a very few) what kind of light bulbs we must purchase, how much soda or hamburgers we can eat, what cars we can drive, gasoline to use, and what health care we must buy. Countless thousands of pages of regulations strangle our businesses costing the consumer more and more every day.
As I face my final year, or so, with cancer, my president and my government tell me “You’ll just have to take a pill!” while you, Senator, your colleagues, the president, and other exalted government officials and their families will get the best possible health care — on our tax dollars — until you are called home by your Creator while also enjoying a retirement beyond my wildest dreams, which of course, you voted for yourselves and we pay for.
The chances of you reading this letter are practically zero as your staff will not pass it on, but with a little luck, a form letter response might be generated by them with an auto signature applied, hoping we will believe that you, our senator or representative, has heard us and actually cares. This letter will, however, go on line where many others will have the chance to read one person’s opinion, rightly or wrongly, about this government, its administration and its senators and representatives.
I only hope that, occasionally, you might quietly thank the taxpayer for all the generous entitlements which you have voted for yourselves, for which, by law, we must pay, unless, of course, they just go on the $17 trillion national debt for which your children and ours, and your grandchildren and ours, ad infinitum, must eventually try to pick up the tab.
My final thoughts are that it must take a person who has either lost his or her soul, or conscience, or both, to seek re-election and continue to destroy this country (that I deeply love) and put it so far in debt that we will never pay it off while your lot improves by the minute, because of your power. For you, Senator, will never stand up to the rascals in your House who constantly deceive the American people. And that, my dear Senator, is how power has corrupted you and the entire Congress.
The only answer to clean up this cesspool is term limits.
This, of course, would kill the goose that lays your golden eggs.
And woe be to him (or her) who would dare to bring it up!
Sincerely,
Bill S.
THE DOLLAR DEATH MASK
APRIL 1, 2014 JC COLLINS LEAVE A COMMENT
By JC Collins
gold death mask
“This week, the US Congress again failed to approve a modest appropriation that would have shored up financing for the International Monetary Fund and given China and other emerging economies greater responsibility there. Support for the IMF may seem arcane, but it has important implications for America’s global role – and the signs are not good.”
From BusinessDay Website, Tuesday, April 1, 2014.
The shifting reality of the global economy is becoming more and more apparent. With each passing day we are hearing and reading additional news and events which are leading the world towards the multilateral financial system.
Many of the discussion points and topics on this site have been spot on with many of the readers discovering supporting evidence well in advance of the mainstream media and other sites. The hard work of everyone is making the overall picture clearer and clearer with each comment and link to outside sources.
The link above in the opening comments is from a mainstream source and is echoing most of the arguments made here. It would be helpful for everyone to read the article as it helps bring the big picture even more into focus.
The whole world outside of the American Congress wants the IMF 2010 Reforms passed. Watch the interview below from CNBC with the head of the Institute of International Finance.
http://www.iif.com/
The sovereign debt crisis is one of the leading indicators of the imminent financial system transition away from the dollar. What is happening in the Ukraine and the forced regulations and cost increases heaped upon the people will be the blueprint for debt consolidation and re-structuring through the International Monetary Fund.
A part of these debt regulations will be increasing the capital requirements of banking institutions as defined in the Basel 3 requirements by the Bank for International Settlements. Expect a contraction of credit as a direct cause and effect of Basel 3.
http://www.swissinfo.ch/eng/news/business/IMF_Says_European_Banks_Had_Up_to_$300_Billion_Subsidy.html?cid=38282438
The credit rating of nation states is now being downgraded because of the level of sovereign debt. See:
http://www.ft.com/intl/cms/s/0/5c15c118-b68c-11e3-b230-00144feabdc0.html#axzz2xei5NKxC
Following on the heels of the credit rating decreases, we will also see the same multilateral approach applied to future credit rating systems. Dagong Global will be one of the new multilateral global credit rating systems. All that gold hasn’t gone to Asia by accident.
This brings up another possibility. Could a US dollar devaluation be more important to the overall global sovereign debt restructuring than previously considered? Perhaps that is the end game. Devalue the dollar which will lay waste to much of the US debt sitting in the central banks around the world.
The countries holding this debt have negotiated an exchange for precious metals and control of natural resource production. When gold stops moving its time to worry.
The American reluctance to pass the IMF 2010 Reforms is giving the world exactly what it requires to bypass the dollar and enact legislation which will support the emerging multilateral system.
Between currency swap arrangements, renminbi trading hubs, a Russian ruble payment system, new international credit rating agencies, and a sovereign debt level which can no longer be managed, its obvious that we are on the verge of a transition.
The dialectic division of IMF debt restructuring or BRICS bypassing will soon merge into the offered solution to the worlds financial ills. In a true multilateral system,one country or a group of countries, cannot go it alone. This is key to understanding the slight of hand which is taking place. Remember, all countries, G20, BRICS, etc., are calling for the IMF Reforms.
The IMF is the tip of the spear. And its poised to strike.
The death of the dollar may be a stretch, but it’s removal as the primary reserve currency of the world is inevitable. We continue to wait and watch as the story unfolds before us. – JC Collins
Rick and JC,
The old saying was, steal a loaf of bread and you’ll rot in jail for life, steal a million dollars and your a hero, till you rot in hell, {Sheol]! Well these well heeled bankster’s (real heels), think there hero’s. Maybe (Madoff), it’s time for the {world},to deflate their asset’s. Too bad the guy’s in the middle will have to get squashed, so as to, get to the well heeled , heels, but that’s banking fer ya!
Reminds me of another old saying growing in banking circles.
Give a man a gun, he can rob a bank. Give a man a bank, he can rob the town. Give a man a seat in congress to create a central bank, to rob the country. Give the crooked central bank an international monetary fund, to rob the world!
What was wrong with a fishin pole?
Dude
that was really long. Try a breif synopsis and a link to JC’s site.
Hi Greg,
Some interesting developments in in bilateral trade in NZ this week.
It was announced that NZ would be the 6th country in the world to be able to trade its currency directly with China. Until now now our exporters who were paid in renminbi were penalised by the extra cost of converting their receipts into US$s before converting those greenbacks into NZ$s in a costly three way currency transaction. In the past most exporters cut out this tedious and expensive 3 way currency trade and just invoiced the Chinese buyers in US dollars.
However Beijing now wants to internationalise its currency and is only too happy to facilitate trade between the two countries in the renminbi. Three banks HSBC, ANZ, and Westpac have been authorised by the People’s bank of China to trade the currencies directly in the countries interbank foreign exchange market – China Foreign Trade System. Cutting out the third currency [US$] will obviously reduce transaction costs. The biggest cost historically came from converting renminbi to US$s whilst the conversion into NZ$s was a smaller cost because of the historically large pool of buyers of the US $.
With China becoming more integrated in global financial markets, demand for its currency will increase, and the cost of conversion directly into NZ$s will fall.
Apparently the renminbi only ranks 8th most traded currency internationally, whilst the NZ$ ranks 9th in the world. It seems ridiculous to me to see NZ ranked at #9 when our total economy is so tiny. In 2012 we were ranked #31 in GDP in the world – just behind Italy and Spain.
The international acceptance of the renminbi is really only limited by the Chinese Govts’ willingness to open the countries financial system. Apparently Chinese leadership has recently outlined a path to more liberalised investment rules and a floating exchange rate by 2020.
This to me, on the other side of the world, is another clear sign that there is a major acceleration in bilateral trade worldwide. The result has to be a massive undermining of the reserve status of the US$.
Cheers
Col
Thank you for the real world reporting from the other side of the world!
Greg
China in the International Monetary System
May 17-18, 2014
Hangzhou, China
Overview
The China conference is part of our initiative for celebrating the 70 anniversary of the Bretton Woods conference and provides a forward looking agenda about the major changes that will affect the international monetary system. The world today stands in stark contrast with both the Bretton Woods era and the period that followed immediately. The first – and most obvious – difference is the number of countries that are active participants in the system and have a stake in its functioning. The monetary and financial world is becoming increasingly “multipolar”. While the current system comprises three currency blocks, at least one (the Chinese RMB) and maybe other additional systemic currencies will emerge in the future. This is one of the key issues that we will debate in Hangzhou on May 17-18 2014. Chinese academics, policy makers but also global experts will gather to understand better
Debate and masturbate….that’s what the Obama administration is good at. Ok, I gave them debate because they can read a teleprompter but they arent real debaters BUT they DO excel at the other
Send in the clowns…JP Morgan blocks Russian embassies bank transfer AND Russia threatens to block transfers to US embassy in Russia . you would think we have f’ing morons for leaders. Moronic leader that WANT TO START A WAR
http://m.ft.com/cms/s/0/2603afd6-b9d4-11e3-957a-00144feabdc0.html
http://mobile.reuters.com/article/idUSBREA301O820140401?irpc=932
and lets not forget the morons at the FBI that question someone threatening to shoot up a military base but let him go AND now they are looking for him ( can you say incompetent, little boy)
http://www.foxnews.com/us/2014/04/01/military-hunts-one-time-recruit-planning-ft-hood-style-jihad/
Why does it seem like everything going on with the mortgage crises keeps pointing to these WaMu Pass-Through Certificate Trusts? I can’t quite put my finger on it, but I think something may really be afoul.. Somewhere in the trusts right before the other trusts which are named in almost all of the securities litigation to date.. particularly in the 2005-AR1 – 14 range.
I ‘m almost certainly willing to bet money it’s something big … and dirty!
Not to open up any can of worms or anything…
Provided here is encouragement for those who are pessimistic that any thing good will come of this evil being accomplished by conspirators. Jesus Christ determined what HE was going to do. HE promised HE would do more than just overturn the money changers tables in HIS Father’s Temple in Jerusalem. At the beginning of HIS ministry, HE quoted Isaiah 61 into Luke 4 & promised a world wide debt cancelling JUBILEE would occur at the end of the Age of Pisces the Fish. This is HIS Jubilee, HE is in charge of what is going to occur. Jonathan Cahn and Mark Biltz are on top of HIS prophetic signs in the skies to tell you when , where and what. A Jubilee by October 2016. International Banker gangsters go to prison. Much money is confiscated NOT taxed and returned to its right owners from the New York, London and Vatican banks.