If We Don’t Break Up the Big Banks, They Will Manipulate More and More of the Economy … Making Us Poorer and Poorer

If We Don’t Break Up the Big Banks, They Will Manipulate More and More of the Economy … Making Us Poorer and Poorer

(From zero hedge)

Interest Rates Are Manipulated

Interest rates are rigged:

Derivatives Are Manipulated

The big banks have long manipulated derivatives … a $1,200 Trillion Dollar market.

Indeed, many trillions of dollars of derivatives are being manipulated in the exact same same way that interest rates are fixed: through gamed self-reporting.

Currency Markets Are Rigged

Currency markets are massively rigged.

Commodities Are Manipulated

The big banks and government agencies have been conspiring to manipulate commodities prices for decades.

The big banks are 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.

Gold and Silver Are Manipulated

The Guardian and Telegraph report that gold and silver prices are “fixed” in the same way as interest rates and derivatives – indaily conference calls by the powers-that-be.

Oil Prices Are Manipulated

Oil prices are manipulated as well.

Everything Can Be Manipulated through High-Frequency Trading

Traders with high-tech computers can manipulate stocks, bonds, options, currencies and commodities. And see this.

Manipulating Numerous Markets In Myriad Ways

The big banks and other giants manipulate numerous markets in myriad ways, for example:

  • Engaging in mafia-style big-rigging fraud against local governments. See this, this and this
  • Shaving money off of virtually every pension transaction they handled over the course of decades, stealing collectively billions of dollars from pensions worldwide. Details here, here, here, here, here, here, here, here, here, here, here and here
  • Pledging the same mortgage multiple times to different buyers. See this, this, this, this and this. This would be like selling your car, and collecting money from 10 different buyers for the same car
  • Pushing investments which they knew were terrible, and then betting against the same investments to make money for themselves. See this, this, this, this and this
  • Engaging in unlawful “Wash Trades” to manipulate asset prices. See this, this and this
  • Participating in various Ponzi schemes. See this, this and this
  • Bribing and bullying ratings agencies to inflate ratings on their risky investments

The Big Picture

The big picture is simple:

  • The big banks manipulate every market they touch
  • The government has given the banks huge subsidies … which they are using for speculation and other things which don’t help the economy. In other words, propping up the big banks by throwing money at them doesn’t help the economy

Get it? Break up the big banks, or they will continue to take over and manipulate more and more of the economy … increasing their profits while making everyone else poorer.

See also

3 thoughts on “If We Don’t Break Up the Big Banks, They Will Manipulate More and More of the Economy … Making Us Poorer and Poorer

  1. We need to get banks back to doing what they are there for in an economy – capital development loans based upon a proposed income stream.

    Everything else they do is likely against the public interest – including running the transaction system (and effectively holding it to ransom when things go wrong).

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  2. The trouble is the legal system, banking industry and our supposedly democratic political system are so intertwined and corrupt that they cannot be individually identified. Only whole scale reform can change this. We need a democratic Republic to replace the current biased system. We need to be citizens not subjects. We need a written constitution to protect the citizens and limitations on the banking sector and truly independent watchdog system. The country and therefore the people are being raped by corporations an greedy individuals. An operation is needed to rid us of this blight not just continually adding plasters to cover it up.

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