Debanking

[mangocrazy]

The New Yorker ran an in-depth piece about it in February:

https://www.newyorker.com/magazine/2023 ... unravelled

I found this paragraph particularly telling:

“In finance, globally, you have a situation where the only effective police are the Americans,” Paul Murphy told me. “Our regulators—they’re out to lunch. Incompetent, mainly.” He added, “What you’ll find, say, here in London is that you can be a crook, stealing money from people around the world. As long as you’re not stealing from people in Britain, you can do anything.”

[Potter]

The New Yorker ran an in-depth piece about it in February:

https://www.newyorker.com/magazine/2023 ... unravelled

I found this paragraph particularly telling:

“In finance, globally, you have a situation where the only effective police are the Americans,” Paul Murphy told me. “Our regulators—they’re out to lunch. Incompetent, mainly.” He added, “What you’ll find, say, here in London is that you can be a crook, stealing money from people around the world. As long as you’re not stealing from people in Britain, you can do anything.”

That might be true, but as with the other examples I used, the most staggering things like this are allowed to run because the public would prefer to believe that it's just a crazy conspiracy and remain comfortably numb.

[mangocrazy]

The New Yorker ran an in-depth piece about it in February:

https://www.newyorker.com/magazine/2023 ... unravelled

I found this paragraph particularly telling:

“In finance, globally, you have a situation where the only effective police are the Americans,” Paul Murphy told me. “Our regulators—they’re out to lunch. Incompetent, mainly.” He added, “What you’ll find, say, here in London is that you can be a crook, stealing money from people around the world. As long as you’re not stealing from people in Britain, you can do anything.”

That might be true, but as with the other examples I used, the most staggering things like this are allowed to run because the public would prefer to believe that it's just a crazy conspiracy and remain comfortably numb.

When you've got the might of the German financial establishment telling you it's a conspiracy then it's understandable that people might believe what they are told. I don't recall seeing this widely reported at the time - it seems like the FT were ploughing something of a lone furrow.

[Potter]

When you've got the might of the German financial establishment telling you it's a conspiracy then it's understandable that people might believe what they are told. I don't recall seeing this widely reported at the time - it seems like the FT were ploughing something of a lone furrow.

That's my point, even the FT were debunked as conspiracy nutters, or corrupt and in cahoots with short sellers.
Anyone less than that level trying to raise it were actually threatened with serious violence and they shut up - a lone man on a motorcycle forum would get hammered for it and called all sorts of names, but it was all true, just quite unbelievable if you've always believed that this stuff only happens in movies.

I've been exposed to just enough that I wouldn't discount anything as "just conspiracy lunacy" these days, this is a great example to show that even the most ridiculous of conspiracies can turn out to be true.

[Screwdriver]

Funny thing is, just in my last post (before it got deleted) someone chipped in with "what you reckon all these rich people gather around and conspire to make even more money for themselves". Not a direct quote but the gist of it.

I'm like, "well, yeah. It's called the WEF, they meet in Davos".

Without casting aspersions, does anyone seriously believe these uber rich elites are going to go out of their way to make things better for humanity? Or bearing in mind what little we can discover about the proposals, are they gaming the system to benefit themselves?

You will own nothing and you will be happy.

[mangocrazy]

When you've got the might of the German financial establishment telling you it's a conspiracy then it's understandable that people might believe what they are told. I don't recall seeing this widely reported at the time - it seems like the FT were ploughing something of a lone furrow.

That's my point, even the FT were debunked as conspiracy nutters, or corrupt and in cahoots with short sellers.
Anyone less than that level trying to raise it were actually threatened with serious violence and they shut up - a lone man on a motorcycle forum would get hammered for it and called all sorts of names, but it was all true, just quite unbelievable if you've always believed that this stuff only happens in movies.

I've been exposed to just enough that I wouldn't discount anything as "just conspiracy lunacy" these days, this is a great example to show that even the most ridiculous of conspiracies can turn out to be true.

Yes, fraud on that kind of scale is almost too big to comprehend, and Wirecard were fraudsters hiding in plain sight. They went after anyone shorting the stock with some serious muscle and most people would just cave in and unwind the position. What it does expose is a criminal lack of oversight and a complete absence of regulatory control - in fact the regulators appear to have been complicit. And I doubt anything has changed since.

[asmethurst99]

Has anyone seen the Netflix documentary about Wirecard?

This is a great example of what was actually going on in terms of hacking, spying, political skullduggery, foreign intelligence interference, election rigging, and good old fashioned fraud.

A few people were screaming from the rafters about it for years but being ignored by the masses as conspiracy nutters and ridiculed - in fact if Screwd had posted about it a few months before the bubble burst then no doubt he'd have been called a conspiracy nutter again - but there it is, all exposed now for everyone to see.

It's actually quite incredible how long these things take to bring down, but just like Jimmy Saville, grooming gangs and things like Wirecard, the general public don't want to believe it, so they don't.

I read the FT article (i think) it’s quite sobering wasn't one of the journalists threatened with Jail - followed by private investigators etc
Edit I think that was the least of it

[Potter]

I read the FT article (i think) it’s quite sobering wasn't one of the journalists threatened with Jail - followed by private investigators etc
Edit I think that was the least of it

Yeah it was pretty bad.

They were one of the biggest financial organisations in the world, poised to take over Deutsche Bank, no one wanted to believe what was going on inside and so it was very easy for the individuals making noise to be ignored as lunatic conspiracy theorists or fraudsters themselves.

Incredibly the documentary claims that if they'd have actually done the Deutsche Bank merger then they probably would never have been found out, because as staggering as the numbers are, they could probably hide them in such a colossal organisation.

This is the tip of the iceberg, the stuff that goes on in the world is literally beyond belief simply because the majority of people don't want to believe it and can't stretch their mind to those lengths - "I don't know and I don't care" is the position that they have been conditioned to accept.

[gremlin]

BaFin were, and remain, a paper tiger, reined in by the German got. who covet the position of being the hub of European banking, which remains steadfastly in London.

[Yorick]

BaFin were, and remain, a paper tiger, reined in by the German got. who covet the position of being the hub of European banking, which remains steadfastly in London.

That's nice dear.





No, haven't a clue

[gremlin]

Funny thing is, just in my last post (before it got deleted) someone chipped in with "what you reckon all these rich people gather around and conspire to make even more money for themselves". Not a direct quote but the gist of it.

I'm like, "well, yeah. It's called the WEF, they meet in Davos".

Without casting aspersions, does anyone seriously believe these uber rich elites are going to go out of their way to make things better for humanity? Or bearing in mind what little we can discover about the proposals, are they gaming the system to benefit themselves?

You will own nothing and you will be happy.

An alternate view is that if you want the global economy to function well, it could pay dividends to get the world's bankers and business leaders together to agree policies to keep the markets stable and functioning, as this promotes business, which is good for them, and in turn generates wealth for everybody by trickling down.

[Screwdriver]

Without casting aspersions, does anyone seriously believe these uber rich elites are going to go out of their way to make things better for humanity? Or bearing in mind what little we can discover about the proposals, are they gaming the system to benefit themselves?

You will own nothing and you will be happy.

An alternate view is that if you want the global economy to function well, it could pay dividends to get the world's bankers and business leaders together to agree policies to keep the markets stable and functioning, as this promotes business, which is good for them, and in turn generates wealth for everybody by trickling down.

You are right of course but that does not condone the excessive manipulation of the political/social system which is being made by those with the financial clout to get away with it. The two scenarios are not mutually exclusive. Capitalism needs a system of regulation and a certain degree of cooperation between these financial behemoths but their actions overstep the mark. It is a power grab and they are sidestepping democracy in the process.

[mangocrazy]

Going back to the Wirecard fraud, one of the main players was a guy named Jan Marsalek who it is believed is now in hiding in Russia. I was reading a piece about the 5 alleged Bulgarian spies being tried in the UK and guess whose name popped up - yes, Jan Marsalek... He gets around a bit that chap...

https://www.bbc.co.uk/news/uk-66923824

[gremlin]

“In finance, globally, you have a situation where the only effective police are the Americans,”

How did SVB fail so spectacularly earlier this year if that's the case?

Smaller banks effectively lobbied the Fed to be exempt from liquidity regulations. The Fed folded.

[mangocrazy]

“In finance, globally, you have a situation where the only effective police are the Americans,”

How did SVB fail so spectacularly earlier this year if that's the case?

Smaller banks effectively lobbied the Fed to be exempt from liquidity regulations. The Fed folded.

Yeah, I think that quote only applies to non-USA banks. the Fed is very happy to prosecute non-native banks but have a blind spot when it comes to US banks. I remember the way they went after HSBC (who quite frankly, deserved it) for AML activities, when US banks were doing the same thing. HSBC were a bit too good at it and stealing market share from US banks and so they had to be put in their place, or so it seemed.

[Screwdriver]

“In finance, globally, you have a situation where the only effective police are the Americans,”

How did SVB fail so spectacularly earlier this year if that's the case?

Smaller banks effectively lobbied the Fed to be exempt from liquidity regulations. The Fed folded.

The entire system is totally corrupt. I am surprised SBF hasn't accidentally murdered himself after disabling the cameras.

Remembering Jeffrey Epstein was as deeply involved in a similar state sponsored ponzi scheme as SBF. The pedo stuff was just bit of fluff and a handy little sideline in blackmail. The "state sponsored' jibe is when you look at exactly who was "investing" in these scams. When SVB went down, a few too many "prominent persons" stood to lose too much money so the banks got bailed out by the taxpayer (as per usual).

[gremlin]

FTX had no oversight by the regulator, as is the case with crypto. Hardly accurate to say it was state sponsored. SBF was paraded around as some sort of god by the press and followed by the greedy get-rich-quick idiots like the Pied Piper.

I have no fear of the BoE introducing a crypto, as like other fiat currencies, it will have governance and oversight. FTX (and Binance and countless others) are simply Ponzi schemes. Once somebody notices the emperor is bollock naked it comes crashing down.

[Mr. Dazzle]

I don't want the government to watch me, but if they could regulate stuff too that'd be just dandy

[gremlin]

I don't want the government to watch me, but if they could regulate stuff too that'd be just dandy

To which one should ask, 'If they ain't watching, how can they regulate?'

The government has no need to watch you anyway, sitting tapping away on here, buying stuff on Amazon, using your bank card....

Your digital footprint is everywhere and I suspect the government doesn't really GAS about you or I. Your bank, supermarket and Amazon, though... them boys want to milk you for all the data they can.

[Mr. Dazzle]

I do wonder how much modern Paranoia (probably not the right word but conveys something of my meaning) is down to, ironically, greater transparency and information availability.

Look at the East India Company or United Fruit for some proper historic cuntyness.