Old 12-14-2013, 09:59 AM   #1
Fred O'Malley
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Default UK, US govts hand in hand with bankers committing financial crimes

Iceland is a great example of a country which had the courage to prosecute bankers, and that’s largely because it’s not controlled by the Federal Reserve and the Bank of England, Max Keiser, financial analyst and host of the Keiser Report on RT, says.

Four former bank bosses in Iceland have been jailed for financial fraud. They were accused of hiding the fact that a Qatari investor bought into the firm [Kaupthing Bank], with money lent illegally by the bank itself. It went bust in 2008, helping to cripple Iceland's economy.

Keiser says, what is considered a crime in Iceland is flourishing thanks to government support in the UK and the US.

RT: What are the broader ramifications of this case?

Max Keiser: I think we need to understand that in this crime that was committed in Iceland, with the participation of the government in Qatar, you have a classic Ponzi scheme where a bank was lending money to Qatar to buy shares in banks in Iceland to artificially inflate the price of the stock of the bank, and then they would use that artificially high bank stock price to make loans, to make acquisitions and then when the bubble burst it all came down. And of course there was a crime committed, and the Icelandic government is now prosecuting for that financial fraud.

But what's interesting is that if you look at what's happening in the UK right now - HSBC, Barklays, Lloyds, and the Royal Bank of Scotland in particular - they are participating in exactly the same fraud with the help and participation of the Bank of England. It's a program called quantitative easing where central bank loans to the commercial banks to buy stock or bonds in this case in the central bank. So they are doing the same exact thing that in Iceland is a crime.

I think because Iceland, Russia, Iran and China are all banking systems that are outside of the control of the Federal Reserve in America or the Bank of England in the UK, they are free to prosecute financial crimes. They don't have that freedom in the UK because the bankers are protected by the Bank for International Settlements in Switzerland, the Federal Reserve in New York who collude on a global basis to line the pockets of the criminals, in this case the bankers in the UK and the US, and of course their economies are suffering catastrophically as a result of this: poverty is on the rise, and living standards in the UK are crashing worse than they've ever crashed since the Victorian times.

RT: Any chance other high-flying financial scammers will now find themselves in the dock on similar charges?

MK: The banking zones outside of Russia, Iran, China and Iceland are pretty much controlled by what's known as the Rothschild influence. The Rothschild of course in their family really owns the Central Banks in America and the Bank of England. But China, Russia, Iran and Iceland don't have to answer to the Rothschild, so they are free to prosecute what I call financial terrorists.

RT: To what extent should governments control financial institutions and their deals.

MK: Governments are completely co-opted by the bankers. The UK government has been co-opted by Barclays. And the Royal Bank of Scotland in particular was just caught targeting small businesses for death where they were setting small businesses up to fail so their affiliates could swoop in and buy assets for pennies on the dollar. So [they've been] acting as what I call financial terrorists with the full cooperation of David Cameron, George Osborne and Mark Carney, head of the Bank of England. They are fully engaged in the confiscation of wealth using what I call financial apartheid and other tricks to essentially steal wealth from the vast majority for the benefit of a very few bankers who work globally.

But not in Iceland! Iceland had the courage to do what we've seen in some other territories, by prosecuting bankers. In Vietnam a banker caught committing a financial crime was executed. There needs to be a deterrent against a financial fraud of this magnitude.

Capital punishment seems maybe a good idea if it will deter bankers from committing acts of financial terrorism. In the US, capital punishment is legal. I say use it to go after the really bad guys, the people of Wall Street, the people of the Central Bank; stop killing poor black kids in Texas because you don't like the way they look and go after the white guys on Wall Street who commit genuine acts of financial terrorism. They've got capital punishment - use it to better society, not just kill poor kids.

http://rt.com/op-edge/banksers-finan...criminals-209/
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Old 12-14-2013, 10:01 AM   #2
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Icelandic 'banksters' get jail time over Kaupthing fraud


Four bosses of Iceland's failed Kaupthing Bank face prison terms of between three and five years and must pay millions of pounds in legal costs. They were convicted of fraud ahead of the collapse of the country's biggest bank in October 2008.

This is the biggest penalty for a financial scandal in Iceland's history.

The bankers were accused of concealing an investor from Qatar who bought a 5.1 percent equity stake in Kaupthing, with the money illegally provided as a loan from the bank itself.

The former head of Kaupthing, Hreidar Mar Sigurdsson was sentenced to five and a half years in prison, Chairman Sigurdur Einarsson got five years, owner Olafur Olafsson was sentenced to three years behind bars, and the finance director of the Luxembourg branch, Magnus Gudmundsson got three and a half years.

The deal with Qatar took place just a couple of weeks before the bank collapsed in October 2008 because of its massive debts.

Five years ago Kaupthing and other Icelandic banks, including Landsbanki and Glitnir, were on the brink of collapse. They had borrowed funds on the money markets to provide credit to customers. By 2008 the amount borrowed was more than six times Iceland's gross domestic product.

AFP Photo / Stan Honda

AFP Photo / Stan Honda
Big banks get off cheaply

In the scrutiny of the world’s key lenders for so-called “pre-crisis cheating” European and American banks have so far got off cheaply when compared to Icelandic lenders.

Although some of the worlds’ biggest banks will need to pay record fines, the penalties imposed by regulatory bodies have all been monetary, and the bank bosses have remained off the hook.

Last week the European Commission hit six major banks with record fines of 1.7 billion euro for manipulating lending rates that play a key role in the global economy. In November JPMorgan Chase & Co., that has been penalized the most, agreed to a record $13 billion settlement for selling "bad loans" before the US financial crisis.

http://rt.com/business/iceland-jail-...ng-bosses-186/
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Old 12-14-2013, 11:06 AM   #3
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Maybe now, quantitative easing rip offs make more sense to you. Chase gets 700 billion and pays a fine of 13 billion. Sounds like a good deal to me, especially if no kikes go to prison.

If we don't overthrow the government and get rid of the thieving kikes forever, we are dumb as snot.
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Old 12-14-2013, 12:29 PM   #4
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"UK, US govts hand in hand with JEW bankers committing financial crimes"

fixed the 'thread' title there for ya, Fred!!



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Old 12-14-2013, 01:54 PM   #5
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IMF Bankers are wanting a 71% top income tax.....will post a link when I find the story again....saliva is dripping from their kosher lips already.
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