Laundry.

      Remember 2008, the "financial crash", when the financial Mafia, by duplicity and sleight of hand, had blown their big gambling balloon up so hard it burst, and their gambling loses had to be met by you and me pouring billions of taxpayers money into their coffers. This was then followed by us the ordinary people suffering years of "austerity" as we were told , "we need to get the national debt down". Of course of political ballerinas and their financial friends said that they had put in place new checks and balances so that such greed drive corrupt actions could not happen again. From now on, our noble bankers and financiers would be squeaky clean, what an illusion. 

      Here we are in 2020 and one of the biggest members of the financial mafia, JP Morgan Chase, biggest bank in America and 7th largest in the world, has been caught being naughty again. The company has been ordered to pay $920 million in connection with three federal agencies for its role in allegedly manipulating global markets for metals and Treasurys. It has also without too much of a fuss settled a long running lawsuit that accused them of fiddleing to manipulate precious metals market by means of "spoofing". It is alleged that for eight years traders at JP Morgan systematically and deliberately "spoofed" precious metals and treasury futures by placing hundreds of thousands of orders with no intention of fulling them, but simple cancelling before the date of the completion. The claim was made that JP Morgan manipulated these markets and failed in its duty to diligently supervise all its traders. How many billions of dollars did they make in those eight years?

       Of course they are not alone in this cesspool of  greed and corruption, it is as always, endemic in the whole rotten financial system.

This extract from a report by Buzzfeed:

      The problems with money laundering aren’t just confined to one bank or one country. The FinCEN Files investigation also documented that after they were singled out for misconduct, JPMorgan Chase, Bank of New York Mellon, HSBC, Standard Chartered, and Deutsche Bank continued to move money for suspected criminals.

      All this corruption is pouring billions into the coffers of shareholders and CEO, and of course as JP Morgan is a big boy in this greed game, you'll notice its greedy corrupt claws crops up in this list of big snouts in the financial mafia game of plunder and pillage. All this goes of course to show that the capitalist and financial Mafia beasts can't be tamed, they have to be put down.

 

 

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We Are Drowning In Shit.

       When I started scribbling little pieces for this blog, a number of years ago, I had to search around for something, that might catch the eye. Some little bit of fiddling in high places, some corporate bullying, or whatever. Now however, the difficulty is working through the avalanche of shit that keeps pour over us. Everywhere you look, corruption at every turn, duplicitous statements, proxy wars, paedophilia in high places, corporate shredding of working conditions, slave labour workfare, millionaires slashing the standard of living of the poor, Millionaires of business and state, stashing their ill-gotten gains in secret bank accounts to avoid tax, politicians with business interests in health companies, voting on how to sell of parts of the NHS. And so it goes on, as arrogant parasite Lord Fink says, everybody does it. To the average citizen the stench emanating from this pile of shit we call capitalist society, is now overpowering. The wealthy are so wealthy, that their arrogance overpowers their caution, and they openly and blatantly stitch us up at ever turn, knowing they are immune, as the powers that be, our lords and masters, legislators in that temple of decadence, The Westminster House of Hypocrisy and Corruption, are in their club. 

        Anybody that thinks the HSBC affair is something out of the ordinary, is naive in the extreme. It just happens to be the biggest one yet to be made public. Banks fiddle, it's what the financial Mafia does, that's business, remember Leham Brothers, among others, then the libor fixing, that involved all the big boys, in a nudge-nudge, nodding and winking, as they ripped of millions at the touch of a button. As I said, banksters are fiddling gamblers, who help the richest parasites to steal by tax avoidance, and stash their plunder in secret little boxes, away from the prying eyes of you and me. What is more, they know they are safe from prosecution, as those who make the laws, are among the parasites they help with their filthy loot. Ah, the wonders of capitalism.

This from Roar Mag:

 

       This week it was revealed that HSBC — Europe’s biggest bank — has been actively running and propagating a massive tax evasion scheme through its Swiss subsidiary, allowing some of its wealthiest international clients to hide over $120bn in undeclared assets in 30.000 secret Swiss bank accounts. Leading British regulators, MPs and government officials were aware of the malpractices and the names of potential tax evaders (including movie stars, drug lords and heads of state), but never pressed criminal charges.

       Instead, the UK — like the rest of Europe — ushered in an age of austerity. Where the billions of the rich escaped to Switzerland and the Caymans, the benefits of the poor were cut “to balance the budget.” Last year, David Cameron pledged to slash “wasteful” public spending for another decade, as it “comes out of the pockets of the same taxpayers whose living standards we want to see improve.” The irony of the Prime Minister speaking from a golden throne was hardly lost on anyone. Welcome to the topsy-turvy reality of austerity politics.

Read the full story HERE:

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Finance Is A House Of Cards, And There's A Wind Blowing.

       More on that impending financial collapse, that flies in the face of the Cameron/Osborne, “you've never had it so good lie”, "the recession is over", "we are on recovery mode". The financial “experts" are telling people to pull their money out of the giant HSBC bank and advising shareholders to sell, as it appears to be going down the plughole. The whole money system is just a house of cards, monopoly money, an illusion, a world wide scam.
A couple of quotes that might help to verify that claim:

  1.        This used to be the way pretty much all of the money in circulation came to be.  That is, until Investment and Retail Banks got tired of this monopoly on debt based currency, and kicked off the commercial money supply.  You might assume that when you take out a loan or other form of credit, a bank gives you that money from its reserves, and you then pay back that loan to the Bank at a given interest rate – the Bank making its profit on the interest rate.  You would be wrong. The Bank simply creates that loan on a computer screen.  Let’s say you are granted a loan for $100,000.  The moment that loan is approved and $100k is entered on the computer – that promise from you to the bank creates $100k for the bank, in that instant.  This ledger entry alone creates the $100k, from nothing. Today, over 97% of all money that exists, is made this way.

And

2.          The world’s second richest man, Warren Buffet warned us in 2003 that the derivatives market was ‘devised by madmen’ and a ‘weapon of mass destruction’ and we have only seen the first blast in this debt apocalypse.The news that should have us all worried is: the derivatives market contains $700trn of these debts yet to implode.
          Global GDP stands at $69.4trn a year. This means that (primarily) Wall Street and the City of London have run up phantom paper debts of more than ten times of the annual earnings of the entire planet.
         Not only can the Bankers not pay it back, the combined earning power of the earth could not pay it back in less than ten years if every last cent of our productive power went solely to pay off this debt.

Both quotes are from an article on jacknowledge:

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BUSINESS IS BUSINESS!!

I just had to post this in full, from the creative mind of Teacher Dude.

     HSBC Systematic Investment Plan - For the drug cartel that is going places, a photo by Teacher Dude's BBQ on Flickr. Alphonse Gabriel Capone, Group Chief Executive, said: "We accept responsibility for our past mistakes. We have said we are profoundly sorry for them, and we do so again. The Mafia of today is a fundamentally different organisation from the one that made those mistakes. Over the last two years, under new senior leadership, we have been taking concrete steps to put right what went wrong and to participate actively with government authorities in bringing to light and addressing matters.

     "While we welcome the clarity that these agreements bring, ensuring the highest standards wherever we do business is an ongoing process. We are committed to protecting the integrity of the global controlled substance system. To this end we will continue to work closely with governments and regulators around the world."
In the past several years, the Board of Cosa Nostra - HSBC Holdings plc has taken decisive action to direct management to fix past shortcomings as they have come to light. Since 2011, with new senior leadership teams in place at both Cosa Nostra - HSBC Group and Cosa Nostra - HSBC North America, Cosa Nostra - HSBC has taken extensive and concerted steps to put in place the highest standards for the future.

     The Department of Justice has recognised these efforts in the DPA: "Management has made significant strides in improving 'tone from the top' and ensuring that a culture of compliance permeates the institution. The efforts of management have dramatically improved Cosa Nostra - HSBC Bank USA's and Cosa Nostra - HSBC Group's Bank Secrecy Act / Anti-Money Laundering and Office of Foreign Assets Control compliance programmes."

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OUR ECONOMIC SYSTEM, GREED AND CORRUPTION.

       According to a recent Reuters report the rich parasites of this world have as much as $32 trillion, (£20 trillion) of financial assets stashed away in offshore tax havens, which translate into approximately $280 billion in lost tax revenue. This pot of their secret money does not include their other toys, such as non financial assets, for example, yachts, racehorses, gold and real estate. The report also states that the richest citizens in 139 developing countries have from 1970 to 2010, amassed between $7.3 to $9.3 trillion in unrecorded offshore wealth. What was that you said about austere times?

 Why should I pay taxes, they'll only spend it on things I don't need.

         While the worlds parasitical leeches, as individuals, are robbing the people blind, the fine institutions of this corporate capitalist system are grabbing their share of all the dirty money in the world. HSBC, Europe's biggest bank, has just had it wrist slapped for laundering truck loads of drug money and helping to fund Al Qaeda and other such organisation. In case you don't know HSBC is also one of the best at screwing its customers, for example, it has the highest overdraft rate of any bank, it raises over £5 billion in overdraft fees in the UK in a year. Which of course helped it to £13.8 billion profit in 2011, and helped it hand its CEO over £7 million for his piggy bank. Of course HSBC does not stand alone in the fiddlers club, last week the offices of UBS Bordeaux and Strasbourg were raided on suspicion of money laundering and approximately 5,000 German clients of Credit Suisse are being investigated on suspicion of tax evasion. We can add to that the recent, but now not mentioned massive Westminster expenses exposure and you come up with a picture of a system that well and truly screws the public in favour of the parasites. Yes, we're all in this together.

          There is talk of climate change because of pollutants produced by us humans, perhaps the real culprit is the foul stench that emanates from our economic system that is choking all life on the planet.

 

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