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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.


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