Our Financial Oligarchy; Emperors of a Brave New World
They own the regulators; they own the brokerage houses; they own the clearing houses; they own all of your investments; and it’s even been shown that they can exert complete control over the government.
To understand how these banks exert complete control over our financial system, one must first understand the securities clearance system.
In the United States of America, there is only one central clearinghouse: The Depository Trust and Clearing Corporation, and for almost 50 years they have maintained a virtual monopoly over this essential service.
It is a private corporation that is owned by these mega-banks and brokers.
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JP Morgan Agrees New Settlement for FX Manipulation
Profit & Loss, 7 January 2015
JP Morgan has agreed a settlement, believed to be worth $100 million, in an antitrust litigation lawsuit brought against 12 major banks for alleged manipulation of the FX market.
The bank submitted a letter to judge Lorna Scholfield of the Court of the Southern District of New York, stating that it had reached a settlement agreement with the plaintiffs in this litigation and that is planning to file a copy of the settlement terms with the court for approval by the end of January.
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The Federal Reserve Bank is Naked: QE 10T Dollar ‘Loans’ Swaps and Naked Mortgage Bonds of Quantitative Easing 1
Economics Voodoo, 28 December 2012
The banking and financial crisis emerging in September 2008 is often called a global financial crisis, but to be more precise the data point to a crisis of the Western central banks. I referenced euros previously, so this is the euros companion to Quantitative Easing 0-1-2-3∞ & The Federal Reserve’s Love Affair with its Banks and Mortgage Bonds: Levitating The Black Hole. QE 0-1-2-3 is incomplete as concurrently the Federal Reserve Bank also entered into $10.06 Trillion in dollar ‘loans’ liquidity swaps with foreign central banks that we examine in Section I. Why QE $10T as we look at a few of Europe’s largest banks in Section II, which leads us to the $1.25 Trillion naked reasons behind the Federal Reserve Bank’s Quantitative Easing I purchase of phantom agency mortgage bonds that we revisit more closely in Section III.
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Anger at Goldman Still Simmers
New York Times cited by RGM Communications via Wayback, 26 March 2012
Just before the financial crisis began in September 2008, a prominent hedge fund appeared well positioned to take advantage of any turmoil in the markets. That fund, Copper River Partners, had made sizable bets months earlier against companies whose stocks it expected to suffer.
Within weeks, however, Copper River, once a successful $1.5 billion hedge fund, was out of business, having unexpectedly absorbed losses on the very bets it thought would be profitable.
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