Best of the Week
Most Popular
1. Will Gold Price Breakout? 3 Things to Watch… - Jordan_Roy_Byrne
2.China Invades Saudi Oil Realm: PetroDollar Kill - Jim_Willie_CB
3.Bitcoin Price Trend Forecast, Paypal FUD Fake Cryptocurrency Warning - Nadeem_Walayat
4.The Stock Market Trend is Your Friend ’til the Very End - Rambus_Chartology
5.This Isn’t Your Grandfather’s (1960s) Inflation Scare - F_F_Wiley
6.GDX Gold Mining Stocks Fundamentals - Zeal_LLC
7.US Housing Real Estate Market and Banking Pressures Are Building - Chris_Vermeulen
8.Return of Stock Market Volatility Amidst Political Chaos and Uncertain Economy - Buildadv
9.Can Bitcoin Price Rally Continue After Paypal Fake FUD Attack? - Nadeem_Walayat
10.Warning Economic Implosion on the Horizon - Chris_Vermeulen
Last 7 days
Russia Buys 300,000 Ounces Of Gold In March – Nears 2,000 Tons In Gold Reserves - 24th Apr 18
Stock Market Study Shows Why You Shouldn’t “Sell in May and Go Away” - 24th Apr 18
CRYPTOCURRENCY MASTERCLASS #CRY90 - 24th Apr 18
UKGC Set to Make Online Gambling Industry More Risk-Free - 24th Apr 18
Chaos Capitalists Short Countries - How Chanos Got China Wrong - 24th Apr
Artificial Intelligence Defines the Political News Narrative - 24th Apr 18
Stock Market "Oops, They Did It Again" - 24th Apr 18
Fox in the Henhouse: Why Interest Rates Are Rising - 23rd Apr 18
Stocks and Bonds, This is Not a Market - 23rd Apr 18
Happy Anniversary Silver Investors! - 23rd Apr 18
The Hottest Commodity Play In 2018 - 23rd Apr 18
Stock Market Correction Turns Consolidation - 23rd Apr 18
Silver Squeeze, Gold Fails & GDX Breadth - 23rd Apr 18
US Economy Is Cooked, the Growth Cycle has Peaked - 23rd Apr 18
Inflation, With a Shelf Life - 23rd Apr 18 - Gary_Tanashian
Stock Market Predictive Modeling Is Calling For A Continued Rally - 22nd Apr 18
SWEATCOIN - Get PAID to WALK! Incentive to Burn Fat and Lose Weight - Review - 22nd Apr 18
Sheffield Local Elections 2018 Forecast Results - 22nd Apr 18
How Long Does it take for a 10%+ Stock Market Correction to Make New Highs - 21st Apr 18
Sheffield Ruling Labour Party Could Lose 10 Council Seats at May Local Elections - 21st Apr 18
Crude Oil Price Trend Forecast - Saudi Arabia $80 ARAMCO Stock IPO Target - 21st Apr 18
Gold Price Nearing Bull Market Breakout, Stocks to Follow - 20th Apr 18
What’s Bitcoin Really Worth? - 20th Apr 18
Stock Market May "Let Go" - 20th Apr 18
Overwhelming Evidence Against Near Stock Market Grand Supercycle Top - 20th Apr 18
Crude Oil Price Trend Forecast - Saudi's Want $100 for ARAMCO Stock IPO - 20th Apr 18
The Incredible Silver Trade – What You Need to Know - 20th Apr 18
Is War "Hell" for the Stock Market? - 19th Apr 18
Palladium Bullion Surges 17% In 9 Days On Russian Supply Concerns - 19th Apr 18
Breadth Study Suggests that Stock Market Bottom is Already In - 19th Apr 18
Allegory Regarding Investment Decisions Made On Basis Of Government’s Income Statement, Balance Sheet - 19th Apr 18
Gold – A Unique Repeat of the 2007 and How to Profit - 19th Apr 18
Abbeydale Park Rise Cherry Tree's in Blossom - Sheffield Street Tree Protests - 19th Apr 18
The Stock Market “Turn of the Month Effect” Exists in 11 of 11 Countries - 18th Apr 18
Winter is Coming - Coming Storms Will Bring Out the Best and Worst in Humanity - 18th Apr 18
What Does it Take to Create Living Wage Jobs? - 18th Apr 18
Gold and Silver Buy Signals - 18th Apr 18
WINTER IS COMING - The Ongoing Fourth Turning Crisis Part2 - 18th Apr 18
A Stock Market Rally on Low Volume is NOT Bearish - 17th Apr 18
Three Gold Charts, One Big Gold Stocks Opportunity - 17th Apr 18
Crude Oil Price As Bullish as it Seems? - 17th Apr 18
A Good Time to Buy Facebook? - 17th Apr 18
THE Financial Crisis Acronym of 2008 is Sounding Another Alarm - 16th Apr 18
Bombs, Missiles and War – What to Expect Next from the Stock Market - 16th Apr 18
Global Debt Bubble Hits New All Time High – One Quadrillion Reasons To Buy Gold - 16th Apr 18
Will Bitcoin Ever Recover? - 16th Apr 18
Stock Market Futures Bounce, But Stopped at Trendline - 16th Apr 18
How To Profit As Oil Prices Explode - 16th Apr 18
Junior Mining Stocks are Close to Breaking Downtrend - 16th Apr 18
Look Inside a Caravan at UK Holiday Park for Summer 2018 - Hoseasons Cayton Bay Sea Side - 16th Apr 18
Stock Market More Weakness? How Much? - 15th Apr 18
Time for the Gold Bulls to Show their Mettle - 15th Apr 18
Trading Markets Amid Sound of Wars - 15th Apr 18
Sugar Commodity Buying Levels Analysis - 14th Apr 18
The Oil Trade May Be Coming Alive - 14th Apr 18

Market Oracle FREE Newsletter

Trading Lessons

Wells Fargo and Other Banks Now Just Outright Stealing People’s Money

Companies / Banksters Sep 14, 2016 - 11:58 AM GMT

By: Jeff_Berwick

Companies

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.

As we reach the end of this financial and monetary system, the rats are just stealing as much as they can before the ship goes down.  It’s plain as day.

In order to brave these rough waters and subsequent shipwrecks you’re going to need a flotation device. At TDV we provide you with the proverbial life-jacket you need to help keep your head above water through alternatives to traditional banking including offshore opportunities, investment in crypto-currencies and precious metals and mining stock analysis.

Thanks to our legendary Senior Analyst Ed Bugos, so far in the last year our overall portfolio is up 200% with numerous call options and picks up over 1000%! You can join in on the profits too if you subscribe to our TDV newsletter here.

The collapse of the financial system as we know it lies ominously on the horizon, but you don’t have to go it alone. When you subscribe, you gain access to a community of thousands of other like minded individuals who can also help you to survive and prosper through these turbulent times.

Unlike Wells Fargo, we’re dedicated to building you up and guiding you,  not tearing you down and defrauding you!

This is not the end of these shenanigans, it is only the beginning.  There is more fraud, theft, crisis and collapse to come.  Be prepared.

Anarcho-Capitalist.  Libertarian.  Freedom fighter against mankind’s two biggest enemies, the State and the Central Banks.  Jeff Berwick is the founder of The Dollar Vigilante, CEO of TDV Media & Services and host of the popular video podcast, Anarchast.  Jeff is a prominent speaker at many of the world’s freedom, investment and gold conferences as well as regularly in the media.

© 2016 Copyright Jeff Berwick - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Jeff Berwick Archive

© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules