Financial System Fake La La Land – Dr. Mark Skidmore
Greg Hunter, USAWatchdog , 13 March 2021
Michigan State Economics Professor Mark Skidmore revealed three years ago there was $21 trillion in what he called “Missing Money” from the Department of Defense (DOD) and Housing and Urban Development (HUD). To hide what was going on with the federal books, Congress made all government accounting a national security issue, making it impossible to get real accounting of money “We the People” pay in taxes.
Now, even more unofficial and unaccounted for cash has been revealed from the DOD. It’s an eye popping $94 trillion from the years 2017 to 2019. So, add in the $30 trillion in official debt, and that means there is at least $145 trillion in overt and covert money floating around in the federal government, not counting Social Security and Medicare commitments.
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Banks Tweak Bond Covenant Language To Protect Against Repeat Of Citi’s $500M “Fat Finger” Loss
TYLER DURDEN, 10 March 2021
After a court battle that dragged on for more than a year, a New York judge shocked the investment banking community last month when they ruled that a group of Revlon creditors could keep some $500MM that they refused to return to Citi after some $900MM was accidentally transferred in what appeared to be a “fat finger”.
At the time, legal experts posited that the judge’s decision, which was based on quirks in New York State law, would force investment banks to reevaluate the wording of their bond covenants in all future deals, as the ruling created new risks that needed to be addressed. Continue reading “Article: Banks Tweak Bond Covenant Language To Protect Against Repeat Of Citi’s $500M “Fat Finger” Loss”
Rule of Law Collapsed in USA – Martin Armstrong
Greg Hunter, 26 February 2021
Legendary financial and geopolitical cycle analyst Martin Armstrong says now that the stolen election is over, get ready for lawlessness to reign. We start with the Supreme Court that refused to hear the Trump case on Pennsylvania voting fraud. There are three more 2020 Election voter fraud cases pending at the nation’s highest court. Armstrong says, “I don’t think they are going to take any of them. Look, the rule of law has absolutely collapsed in the United States. It’s just a joke at this point. . . . You swear an oath to uphold the Constitution. It’s not whenever you feel like it. . . . This is not only a denial of due process but the civil rights of everybody in the country. They effectively said Pennsylvania changed the rules against the (state) legislature in the middle of an election, and we are not going to hear the case. So, they are effectively saying politicians can change the rules of an election at any time, and it doesn’t have to be constitutional. Refusing to take this case is a disaster because next election they can choose to do the same thing at any time.” Continue reading “Article: Rule of Law Collapsed in USA – Martin Armstrong”
Deutsche Bank Reaches $100 Million Deferred-Prosecution Deal
Bloomberg, 08 January 2021
Deutsche Bank AG agreed to pay more than $130 million to settle criminal and civil charges that it bribed foreign officials and manipulated the market for precious-metals futures through a trading tactic known as spoofing. The Frankfurt-based bank agreed to a deal in which it won’t be prosecuted as long as it doesn’t engage in the practices again for more than three years, and wasn’t required to spoofing. Big banks have been rushing to conclude legal deals before the change of U.S. administrations, partly out of concern that there may be stiffer fines under a Democratic president. Three top U.S.-based banks agreed to pay more than $4 billion in settlements announced just before the November election, on issues ranging from bribery to market manipulation. Continue reading “Article: Deutsche Bank Reaches $100 Million Deferred-Prosecution Deal”
Is The Federal Reserve Using Money-Laundering Techniques To Cleanse Banks’ Balance Sheets?
Forbes, 29 October 2012
Drug lords, terrorists and shadow-government operators (but I repeat myself) use third party intermediaries to cool off and sanitize hot, dirty, and therefore useless money into pristine-clean and productive money that can be used in legitimate commerce. It’s called money laundering.
Characters operating in the shadows also use a form of reverse money laundering to defile clean money or redirect dirty money while masquerading its source so it can be siphoned away, re-channeled and put to use financing illicit activities such as terrorism and off-the-books, shadow-government operations (but I repeat myself, again) that Congress won’t authorize or fund. Think of it as repatriating dirty money and expatriating clean money.
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