The global banking system is as corrupt as it could be. It's running a debt Ponzi and it goes to bed each night with drug runners, gun runners, warmongers etc. The banks lie, cheat, steal and defraud on a regular basis and when they get caught they just pay a bribe, errr, millions or even billions in fines, to the politicians who know exactly what is going on and who turn a blind eye in exchange for back door cash.
Of course all this sounds like the standard "conspiracy theorist" drivel. The only problem is that it's all true. These things are human nature. Society has been distracted with the credit drug and so the dirty element has grown in power and stature. It now wears the office of political power, the badge of law, and the fine suit of the well heeled banker.
It's a long standing theme of mine that we will know that the system is breaking down when the organized criminals begin to turn on each other in an open and viscous way. I'm not just talking dog and pony shows of getting dragged before congress here or of getting big fines for corruption. Individuals who do the dirty deeds don't really care about those things. What they do care about is jail time. When the people begin to wake up and see how badly they have gotten screwed, they will eventually not be happy with fines; they will demand individual accountability and jail time. Then, and only then, will the rampant corruption begin to reverse.
Today in the news we may be seeing the start of this as Belgium considers arrest warrant against HSBC Switzerland directors. That is a pretty broad net there folks, not something you see very often with regard to the banking elite. The typical way organized criminal cartels fall is by ratting each other out in the end game. The authorities, in order to calm the angry herd, begin doing their jobs. They begin targeting lower level oligarchs for criminal activity. These lower level capos then roll over on their bosses (which is probably why there have been a record number of bankers mysteriously turning up dead in the past 12 months).
Expect to see a growing number of dead and jailed bankers. Expect to see more dog and pony shows as oligarchs are dragged before congress for public humiliation. We will know it is in full swing when they drag Warren Buffett up there and destroy his honesty persona in front of the nation and the world.
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A judge in Belgium mulls warrants against the directors of the Swiss subsidiary of a British bank... How wusser can the judge be? Why not go straight to the head of HSBC in the City in London? This is merely a test of the waters; no one is really getting serious yet.
Agree, but that's how it goes, doesn't it?
On the way up, the criminals try something small, nobody seems to notice and they get away with it and so they do more. Lather rinse repeat until they jump the shark somehow.
On the way down, the authorities start small, get public support for doing it and it spurs them on to do more until some real big fish land up in the slam.
Time will tell.
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