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This is the model of US gangster banking in the 21st century.

 
Anonymous Coward
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08/12/2009 11:51 AM
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This is the model of US gangster banking in the 21st century.
J P Morgan Chase Caught Speculating with Customer Money

Why the surprise? This is what the Wall Street banks do, even under a 'reform' administration. They use their customer money and public funds, for which they pay a pittance, to wildly speculate in markets, distorting prices and taking enormous risks, in order to pay themselves outrageous bonuses. They buy politicial influence to enable regulatory capture and support their financial schemes. And when their bets go wrong, the public absorbs the losses. This is the model of US gangster banking in the 21st century.

[link to jessescrossroadscafe.blogspot.com]

Unrelated (perhaps not) to the English gold sale is this revelation about the gold reserves of Germany at around 7:25 in the tape .


"The most fascinating thing that I learned is that all the gold 'in Germany' is in New York."

The other side of this rumour is that Bundesbank desperately wishes a 400 ton IMF gold sale to help it recover at least some portion of the 1,700 tonnes of gold which it has lent out to the bullion banks, who subsequently sold it into the market.

[link to jessescrossroadscafe.blogspot.com]


See what Blairing inconsistencies and Brown can do for you.