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Fraud*
According to the Collins English Dictionary 10th Edition fraud can be defined as: "deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage".[1] In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g. in science, to gain prestige rather than immediate monetary gain
*As defined in Wikipedia

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Saturday, January 5, 2013

Goldman Sachs: Financial Terrorists

What are we to make of the present banking system?  Between money laundering (HSBC), and ongoing lawsuits against banks like Goldman Sachs and a budget that rewards the wealthy at the expense of the others, we cannot say very much that is positive.

Rowens-blog outlines some of the ways that the banks have betrayed the world in order to become the Masters of the Universe:

Why the major global banks have become the enemy of the State and should be treated in the same way as Organized Crime or Financial Terrorists!
By Rowans - Blog
. . . .
The world's major banks have ceased to have any conventional function as the providers of banking services to ordinary men and women. They are now profit centres in their own right, generating profits to satisfy the exponentially-growing demands of their shareholders, who have come to rely on the dividends paid to them by their bankers in return for maintaining their shareholdings.

These banks have no 'normal' social purpose at all, in fact, if they could get rid of small clients like you and me, from whom they make no money if we stay in credit (which is why they underwrite the student loan system because it guarantees a generation of young people permanently indebted to them), they would jettison us tomorrow.

They have been trying to marginalise small retail clients for years, because we are no use to them. They exist to create value through debt which they then sell to each other and some clients in the form of securitised investment possibilities, relying on the 'greater fool' theory to ensure they don't end up with the toxic parcel at the end.

Their real role is to facilitate the safe handling and onward transmission of Naylor's  vast ball of hot, criminal money which rolls around the financial world, seeking temporary accommodation.

They each take it in turn to earn a profit from their actions before helping the money to move on again to the next facilitator. That's what the major financial institutions in the UK exist to do and have done for many years, and vast fortunes have been built on this facilitation of such criminal activity. These banks (now on a global basis) exist to facilitate the ambitions of international organised crime, because they have the available capital which needs storing, housing, a safe haven, and onward transmission in a disguised form. These institutions are merely an extension of the criminal facilitation process, because the money which they seek to manage and attract is no longer the proceeds and profits of ordinary commercial businesses, but the proceeds of white-collar criminals, organised crime gangs, drug traffickers, and foreign dictators.

They are an integral part of the criminal money flow function, and they rely on  their relationships with the major banks to be allowed to 'wet their beak' in the pool of money which the major banks are handling.
Please read the whole item here

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