The “Too Big To Fail” Have Stopped Being Banks. They have become Huge Criminal Enterprises Involved in Market Manipulation

– Washington’s Blog

Bloomberg reported last month:

“Banks don’t have a need for deposits, and the demand for loans by households and firms is weak,” Niels Storm Stenbaek, chief economist at the Danish Bankers Association, said in a phone interview.

Wait … what?

Banks don’t need deposits? They’re not giving many loans? Isn’t that what banks do?

If they’re not collecting deposits and making loans, what are they doing?

In reality, big banks aren’t really acting like banks anymore. Big banks do very little traditional banking, since most of their business is from financial speculation. For example, we noted in 2010 that less than 10% of Bank of America’s assets come from traditional banking deposits.

The big banks are manipulating every market. They’re also taking over important aspects of the physical economy, including uranium mining, petroleum products, aluminum, ownership and operation of airports, toll roads, ports, and electricity. And they are using these physical assets to massively manipulate commodities prices … scalping consumers of many billions of dollars each year (more hereand more).

The evidence demonstrates that the big banks have essentially become huge criminal enterprises …waging warfare against the people of the world.

Apart from the above-described manipulation, virtually all of the big banks’ profits come from taxpayer bailouts and subsidies (see this, this and this). Why don’t they need deposits? Because the taxpayers are showering them with money.

And they don’t need deposits because – as is now admitted by the mainstream – banks create money out of thin air. In other words, banks don’t need deposits in order to make loans.

At the same time, the big banks have sat on the money the government threw at them – with the encouragement of the Fed – instead of loaning it out to Main Street to kickstart the economy. As wenoted in 2012, small banks are much more interested in making loans to the little guy than the TBTFs:

USA Today points out:

Banks that received federal assistance during the financial crisisreduced lending more aggressively and gave bigger pay raises to employees than institutions that didn’t get aid, a USA TODAY/American University review found.

http://www.globalresearch.ca/the-too-big-to-fail-have-stopped-being-banks-they-have-become-huge-criminal-enterprises-involved-in-market-manipulation/5432647

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