News Flash: Corrupt Banking Investigations, and PM David Cameron’s World Economy Warning

News Flash: Corrupt Banking Investigations, and PM David Cameron’s World Economy Warning
Posted on November 23, 2014 by RonMamita — Leave a comment

Regulated abusers is what governments and banks have become.
Food, electricity, housing, taxes and the cost of living has risen dramatically!
No nation or city is immune.
A protection racket for the elite banks in the money cartel that create the national currencies and fund the governments.
Compounding the horrors of this scheme they tax the ignorant citizens to pay for the interest on the loans from the banks and also to act as a “sink” that removes excess currency in the system and thereby reducing the risk of hyperinflation.
Banks and governments have  replaced gangsters and mafias.
Reports below are the most recent news releases, but the information is already old for repeat offenders.
Year after year reports about the criminal activities and abuses by governments and banks are shared, reporting the looming banking crisis, revealing the bad policies written, reporting the international monetary system of fraud and yet institutions continue to operate with impunity.
Neighbors, Friends & Families
The positive result I can identify is that a growing and determined segment of the population have stopped supporting those criminal institutions, and have begun to implement alternatives.
Noncompliance, distrust in institutions, alternative currencies, food gardens and other solution oriented activities are increasing.
The effective tools remaining for the People are not organized protests, referendums or petitions, but rather self sufficiency, boycotts and workers strikes to starve the beast… ~Ron
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U.S. banks in the physical commodities space manipulated prices and added to consumer bills,

a Senate investigation has found.
Goldman Sachs, Morgan Stanley and JP Morgan stockpiled aluminium, oil, jet fuel and other commodities in order to inflate market prices, a huge report following two years of investigating found.
These banks – and one other unnamed financial institution – allocated insufficient capital and insurance to cover extreme losses, the report found. The shortfalls ranged from $1bn to $15bn.
The Federal Reserve was criticised for not clamping down hard enough on the risk-taking that is so prominent in the physical commodities space.
[...] A previous Reuters investigation outlined how those in the metals business – including banks, warehousing firms and traders – had artificially bloated prices by ensuring slow delivery times. Among those subsequently subpoenaed by the US Commodity Futures Trading Commission (CFTC) were Glencore and Goldman Sachs.
A Goldman Sachs subsidiary allegedly shuffled aluminium stocks around its warehouses each day, lengthening storage times and bloating rental costs, which pushed up the metal’s market price and produced bigger profits.
Goldman said the ploy was not against any laws or regulations set by the LME which regulates the market.
In November last year, JPMorgan was warned by the US Federal Reserve about its metals warehousing arm.
Read More: ibtimes.co.uk
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Fed vows review of regulatory gaps for bank commodity arms

By Michael Flaherty
Nov 21 (Reuters) – A top Federal Reserve official on Friday pledged to a Senate investigative subcommittee that the U.S. central bank would broaden its review of gaps in its regulation of the physical commodity operations of U.S. banks.
In response to questioning at a hearing on Friday, Fed Governor Daniel Tarullo said the bank would look into filling those holes; that was in addition to a vow in his written testimony to produce new rule proposals on banks’ commodity holdings by the first quarter of 2015.
“It may be worthwhile taking a look at those merchant banking guidelines for all activities, not just commodities,” Tarullo said in response to a question from subcommittee Chairman Carl Levin about a bank’s ability to manage conflicts of interest while owning and trading the same commodity.
Tarullo, the Fed’s point person for bank regulation, sat on the final panel of a two-day hearing called by the Senate’s Permanent Subcommittee on Investigations.
Read more: Reuters
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David Cameron and his Conservative Political Party, facing mounting criticism and a maligned economy, are losing ground as the elections nears.
Last week, Chancellor George Osborne said Britain is not ‘immune’ to a global economic slowdown while David Cameron said red warning lights’ were ‘flashing on the dashboard of the global economy’.

‘You have to make a realistic assessment of the global economy today.
‘We’ve discovered that Japan has gone into recession, Europe remains very weak, and although the British economy is performing well we’re not immune to these things happening in the world. -dailymail.co.uk

‘Today you tell us there are red lights flashing in the global economy. I think that is what is known as getting your excuses in early.
‘You used to tell us that the problems in the British economy were all to do with the British government and nothing to do with international factors.
‘Now, you want to tell us that on your watch they’re all to do with international factors and nothing to do with the British government.
‘You have gone from saying everything is fixed thanks to you, to everything is not fixed but is nothing to do with you.
‘All along you should have been listening to the British people who see deep problems in an economy not working for them. Isn’t it time you stopped blaming everybody else for an economy that’s great for a few people at the top but isn’t delivering for most working people?’ -Labour leader Ed Miliband

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Solutions: Boycotts and Buycotts
From The Corbett Report Archives





From The Greatest Truth Never Told
.
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Thanks to: http://ronmamita.wordpress.com