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Thread: The Banking System is Pure Evil

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    SWM in Dixie Poor Richard's Avatar
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    Arrow The Banking System is Pure Evil

    Fractional Reserve

    A bank is required to have on deposit at least 10% of the amount that they lend.

    That means that up to 90% of the loans are CREATED OUT OF THIN AIR, backed by nothing and do not exist except as a mark on a ledger.

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    Defender of Our People
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    True, and it is frightening. More frightening, however, is that it is the Federal Reserve that sets that margin. Yet, no margin is set for the Federal Reserve Bank.

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    SWM in Dixie Poor Richard's Avatar
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    Credit Cards

    Most DEBT is generated by Credit Card Companies.

    The highest INTEREST charged is charged by Credit Card Companies charging “revolving credit” (compound interest).

    The Money Lenders were expelled from France when the compound interest went above 40% compound interest.

    The Money Lenders were expelled from England for even a lower compound interest rate, because the Usury they charged amounted to SLAVERY!

    In America, the Credit Card Money Lenders (Shysters) are charging up to 33% compound interest.

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    The great man Miguel Serrano referred to these Fractional Reserve practices as a form of Jewish black magic!



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    Three Corner Moor - End the Fed!

    YouTube- End The Fed 09 - Interview - Tom Moor

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    Contributing Sr. Mod Silver Stallion's Avatar
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    Actually, I believe that 10% is regarded as conservative for a bank as far as deposits/loans is concerned. I believe they have been going over 20:1 (5%) in recent years. With all these upside down mortages (more money owing than the home is worth) and defaults, it is not hard to imagine why the banking system is toast.

    Here is a point to ponder. How do people pay back principal and interest when the money does not exist?

    America and her people are permanently enslaved under the present system.

    Pray the dollar goes to zero and go with a (real) gold or silver currency as the US constitution says.

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    SWM in Dixie Poor Richard's Avatar
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    The Banking System demanded the Bailout, or else.

    Here is a video that demonstrates some of the FRAUD on the part of the Banks that led to the bursting of the housing bubble, and the on demand Bailout.

    Goldman admits 'improper' actions in sales of securities | McClatchy

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    Contributing Sr. Mod LoveTheWhites's Avatar
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    I just really want each and every banker to be clearly identified. Iceland was a sign, I think, to take note of all who do dastardly deeds. Time is running out for these sheisters.

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    Cash Advance

    When a Financial Institution, such as a Credit Card Company, issues a Cash Advance, that advance is almost always created out of thin air.

    You will be charged a fee for the creation of that DEBT (nonexistent money created out of thin air by a ledger entry).

    You will be charged interest on that Debt (interest on that nonexistent money).

    You have sold yourself into SLAVERY to the Evil International Banking System!

    May God have Mercy on your Eternal Soul, and the Eternal Debt you have obligated yourself to.

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    Ah, a wonderful topic. This issue could singularly sway an entire Nation to understand the rest of the issues. Why even today, as went to the bank, the teller was having a luke warm conversation with another customer....ahemmm I mean "debt slave" and I proceeded to ask them if they even knew that the Federal Reserve was anything BUT federal and anything BUT a reserve. I told 'em to look up the federal reserve act of 1913 and made them promise to do so. I can't wait to see them next week. Let's see if they actually do their homework. I'll know by how angry the teller is next week.

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    Dr. Ron Paul Believes that the Bailout was the WRONG Way to Go

    I believe he is RIGHT!

    YouTube- Ron Paul: Bin Laden mocks economy

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    Default The Banking System is Pure Evil


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    Lord Sidious
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    Only about 5% of the 'money' in circulation is actually currency, the rest is some form of debt.
    Well, even the currency is that, but you guys know what I mean.
    Also, the reason that you pay huge interest rates is because we are stupid enough to use their credit and not our own credit.

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    Here is a little older article (1926)
    The Dearborn Independent - 11/6/1926

    From Henry Ford's "Dearborn Independent"

    Worth the read.

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    “I have a Right to my Life; I have a Right to the Fruits of my Labor.

    If you concede the principle of the Income Tax, you concede the principle that the government owns ALL your income
    and permits you to keep a certain percentage of it.”

    ─Ron Paul, interview by Time on Sep 17, 2009.

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    Default The Banking System is Pure Evil

    DEBT is SLAVERY!


    The Bankers Control the Governments!


    If You're a Responsible American, You're Screwed...

    YouTube- If You're a Responsible American. You're Screwed...

    Ron Paul 1988 (2 of 5) Federal Reserve

    YouTube- Ron Paul 1988 (2/5) Federal Reserve, Central Banking, Council Foreign Relations, Republicrats

    Ron Paul 1988 (3 of 5) Federal Reserve

    YouTube- Ron Paul 1988 (3/5) Federal Reserve, Central Banking, Council Foreign Relations, Republicrats

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    Federal Reserve Moral Hazard Smoking Gun



    January 26, 2010

    (Zero Hedge)
    In August 2008 Goldman Was Willing To Tear Up AIG Derivative Contracts, Offered To Take Haircut

    As observant readers will recall, a week ago we pointed out a letter in which the New York Fed’s Steven Manzari instructed AIG to stand down on all discussions with counterparties on “tearing up/unwinding CDS trades on the CDO portfolio.” At the time we focused on the word “stand down” as an indication of the Fed’s lead role in the process. At this point there is no doubt that the FRBNY, together with its law firm, Davis Polk, were in the pilot’s seat during the entire AIG negotiation, and while Tim Geithner may not have been the responsible man for this, someone must have been – and for the record, our money is a double or nothing on recently promoted FRBNY Senior Vice President Sarah Dahlgren, who as of January 21st is in charge of the Fed’s Special Investments [AIG] Management Group. We sure hope Sarah gets the chance to recall her memories beginning in the fateful month of September 2008 when she became the person in charge of the FRBNY’s AIG relationship. But back to the letter – little did we know that our focus was on the right sentence… but on the wrong word. What should have struck us front and center, was Habayeb’s admission that contract “tear downs” had been evaluated. This means that someone, aside from AIG, must have expressed an interest in a tear down, which if true would have dramatic consequences for the entire AIG debacle. Today, the WSJ presented the missing piece of the puzzle.


    In tonight’s Heard On The Street section, the WSJ notes:

    As everybody knows, AIG got a huge government bailout in September 2008 to help make payments on derivatives contracts with banks, including Goldman. Yet in the previous month, Goldman approached AIG about “tearing up” its contracts, according to a November 2008 analysis by BlackRock, then an adviser to the New York Fed. So was Goldman prepared to offer AIG a haircut in the month before its rescue? A legitimate question, given that Goldman refused to accept such a cut when the New York Fed raised the idea after it bailed out AIG.

    The implications of this discovery are huge as they essentially destroy all the arguments presented by the FRBNY about an inability to extract concession out of Goldman (which being the largest AIG CDO counterparty, was the critical negotiating factor). It also casts doubt on the veracity of any arguments presented in Congress by Goldman representatives discussing the potential to take a haircut on their AIG exposure. What this means in plain English is that, in the month before the Fed entered the scene, GOLDMAN SACHS ITSELF OFFERED TO TEAR DOWN THE CDS ON AIG’S CDO PORTFOLIO (we don’t use caps lock lightly). This is basically a smoking gun on the moral hazard issue perpetrated by the FRBNY when it got involved, and indicates that through their involvement, Tim Geithner, Sarah Dahlgren or whoever, not only did not save US taxpayers’ money, but in fact ended up costing money, when they funded the marginal difference between par (the make whole price given to all AIG counterparties after AIG was told to back off in its negotiations) and whatever discount would have been applicable to the contract tear down that had been proposed by Goldman a mere month earlier. This, more so than anything presented up to now, is the true scandal behind the New York Fed’s involvement.

    If this November Blackrock report indeed exists, and if Goldman did in fact offer to tear down contracts, this is an act of near criminal implications and heads at the FRBNY must roll immediately.

    We hope this is the number one question asked by Chairman Towns of Mr. Geithner. But as the latter will plead the fifth due to his lack of involvement, we kindly suggest that the correct person, the person who can not claim lack of knowledge on the AIG situation due to a prior recusal, and is therefore the right person to grill before a live studio audience, is the FRBNY’s Sarah Dahlgren: as it stands, Wednesday will merely be yet another spectacle, in which Geithner will claim stupidity, and this time very likely get away with it: is there any wonder why he agreed to provide testimony so promptly after his “invitation.” What about Goldman’s Stephen Friedman – did he accept the invitiation yet? How about Goldman’s Hank Paulson? It sure must be nice to have the luxury to kindly decline the privilege of providing sworn testimony, and avoid perjury.

    Goldman representatives, Lloyd Blankfein among them preferably, have to be on the stand next to Geithner, as they are the people who have bee at the core of this whole problem from the start till bitter end.

    Last but not least, was it not Mr. Blankfein who just two weeks ago, before the FCIC committee, noted he had never gotten a request to take less than 100 cents on the dollar on AIG CDS? So what happens if it was he who offered less than 100 cents? Should that maybe have been at least mentioned in passing? Is that some equivalent of perjury, or will the semantics lawyers come out in force?

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    Salaries top bailed-out US banks agenda






    In the post-bailout America, the biggest ailing banks magnanimously paid their employees up to 94 cents out of every dollar of their earnings to in 2009, a report said.

    The New York Times unveiled in a report Tuesday that profits of the banks were going toward employee salaries, bonuses and benefits instead of their shareholders.

    The report said the five largest banks on Wall Street — Citigroup, Goldman Sachs, Bank of America, Morgan Stanley and JPMorgan Chase — are giving their employees an unheard-of cut of the winnings.

    Citigroup's employees received about $24.9 billion in 2009 as the bank posted a $1.6 billion loss at the same time.

    "Citigroup is, in effect, paying its employees $1.45 for every dollar the company took in last year. On average, its workers stand to earn $94,000 each," the report said.

    Goldman Sachs gave its staff about 45 cents out of every dollar or about $447,000 for each employee. The bank has 36,200 employees.

    The banks "are handing out fat slices of their profits, leaving little left over for their shareholders," the report said.

    Bank of America also spent 88 cents of every dollar to compensate its workers. At Morgan Stanley and JPMorgan Chase, that figures are 94 and 63 cents out of every dollar.

    Citigroup, Bank of America and Morgan Stanley have all defend their decisions about compensation.

    Some Analysts, the report said, believe the banks "are rewarding their employees at shareholders' expense."

    "The investor in America sits at the bottom of the food chain," said John C. Bogle, the former chairman of the Vanguard Group. "The financial industry gets paid before their clients, and we get paid whether times are good or bad."

    "It's not a fair shake," said John A. Hill, chairman of the trustees at Putnam Funds. "I think the shareholders who paid for building that franchise should be getting a bigger share of the franchise's profits."

    The revenues of five largest banks on Wall Street stood at $147.4 billion before paying compensation and taxes last year.

    http://www.presstv.ir/new/detail.asp...tionid=3510203

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    $2.3 Trillion of our Tax Dollars is MISSING?

    It is not just the International Bankers alone stealing from our Unborn Future Generations, but their employees, the Washington Government as well!

    It is time to FIRE the Washington Government, and DEPORT the International Bankers!

    YouTube- 2.3 TRillion $$ of the TAXPAYER's MONEY IS MISSING

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