by Jeff Berwick, The Dollar Vigilante:
Centuries ago banks actually stored real money (gold) and gave their customers paper receipts which made transferring and transporting easier.
Then as time went by, banks just began storing currency. Unbacked fiat paper is not money.
In those days the term “bank robbery” used to mean a man with a gun would come in and steal the currency from the bank.
Now, in the 21st century, the term “bank robbery” has a completely different meaning. Now, to quote the popular Russian turn of phrase, bank robs you!
What occurred in Cyprus in 2013, was the most overt form of daylight robbery. Over the weekend the banks closed and upon reopening, anyone with substantial funds had approximately 50% less than they previously owned.
Now, banks like Wells Fargo, are just outright defrauding and stealing from people!
Over the past week, the swindlers at Wells Fargo’s were caught engaging in questionable activity yet again and consequently their stock’s value has suffered. The shares took a dip as globalist Warren Buffet’s favorite bank, was fined $185 million for a series of fraudulent actions.
According to reports, since 2011, bank employees have opened 1.5 million bank accounts and “applied” for 565,000 credit cards as well as opened false email accounts – none of which were authorized by their customers.
Part of the fraud lies in the fact that these shady bank workers were transferring funds from their customers existing accounts into the newly created accounts unbeknownst to them, resulting in overdraft fees for insufficient funds in some cases. According to the New York Times, the bank’s employees were incentivized to partake in this illegal activity by compensation policies that rewarded them for opening new accounts. And since bankers never go to prison in the USSA, they must have figured, why not give it a shot?
After all, the US is nothing like Iceland which jailed 29 banksters for their role in the 2008 crash.
The director of the Consumer Financial Protection Bureau or CFPB, (the agency presiding over the fining) Richard Cordray, made a statement saying in part that “unchecked incentives can lead to serious consumer harm and that is what happened here.”
Of course the irony of this fiasco is in the fact that the CFPB is part of the largest organized crime syndicate in the world, the United States government. Not only do these thugs steal around around $2 trillion dollars a year from their tax slaves, but the Pentagram also recently admitted that $6.5 trillion dollars was either “misplaced or stolen”. Even $6.5 million or billion is an egregious sum of money to lose, let alone $6.5 Trillion with a “T”.
It was not long ago when we reported on the dubious actions of Deutsche Bank as they refused to make good on their obligations for delivery of physical gold to customers. Aside from that, the bank was also ordered to pay fines amounting to $257 million for doing business with countries under US sanctions at the time. These events have contributed to its poor stock prices, which have plummeted to their lowest levels in 30 years.
What Deutsche Bank, Wells Fargo and other commercial banks have been caught for, looks like petty theft when compared to the atrocities committed by the central banks throughout history. In fact most people are not even aware that the value of their money is decreasing through the hidden tax called “inflation”.
We are living in a centrally planned monetary system that it designed to slowly siphon away wealth from its participating victims. Vladimir Lenin knew this and was even quoted as saying, “The establishment of a central bank is 90% of communizing a nation.”
So while many people complacently drink beer and watch football on their widescreen TVs they bought on layaway, their purchasing power and bank accounts are being ransacked by banksters like rats on a sinking ship.
And sometimes, as with the Wells Fargo fraud, the banksters will steal from you and then make sure you know how easy it is for them to get away with their ill-gotten gains.
As this Jubilee Year comes to an end, blatant and outright theft is becoming the order of the day.
What is even crazier, is that they appear to be doing it shamelessly.
It’s almost as if they want you to know just how bad things really are – and also to realize you can’t do anything about it. This is the same attitude they’ll take when the system completely collapses. You may be tempted to complain about your broker or your financial adviser, but doing so won’t get you very far.
Yes, you’ll probably find plenty of evidence that you’ve been robbed in the middle of a final financial unraveling, but it won’t matter. The whole idea is to make you suffer while making it clear that there is nothing you can do about it.
And this fraud is a good example of that.
What has not been revealed publicly on mainstream television is the fact that Carrie Tolstedt, the executive who spearheaded and ran the group for years, was neither indicted nor penalized by the bank. In fact she walked away with a $120 million severance package. That’s right, she was rewarded for her wrongdoing.
In fact, Stephen Gandel, a Wells Fargo spokesperson, said the timing of Tolstedt’s departure was a result of an apparently coincidental “personal decision to retire after 27 years.” Nothing to see here.
From a Fortune article:
Tolstedt … is walking away from Wells Fargo with a very full bank account—and praise. In the July announcement of her exit, which made no mention of the soon-to-be-settled case, Wells Fargo’s CEO John Stumpf said Tolstedt had been one of the bank’s most important leaders and “a standard-bearer of our culture” and “a champion for our customers.
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