Fed warns big banks to reform or face breakup . . . come, now, are we really to take this man seriously? ~J


What is this article really saying?  “New York Federal Reserve chief William Dudley said that after paying well over $100 billion in fines in the past six years for bad behavior…”  is this defining the culture of New York’s Wall Street…  I’ve heard it stated simply as…  a Culture of Fraud.

Thanks for posting this Jean!

Edward Reidhead

2012: What's the 'real' truth?

AFPSource: YahooNews
October 20, 2014
Thanks to B.

New York Federal Reserve President William Dudley appears on FOX Business Network on May 20, 2014, in New York City

New York Federal Reserve President William Dudley appears on FOX Business Network on May 20, 2014, in New York City (AFP Photo/Rob Kim)

New York (AFP) – The Federal Reserve delivered a stark warning to the largest US banks Monday that they could be forcibly broken up if they do not reform their ways.

New York Federal Reserve chief William Dudley said that after paying well over $100 billion in fines in the past six years for bad behavior, banks should recognize the imperative to reform.

If the heads of the large banks do not change the culture that led to the fines, he said in a speech to top Wall Street officials, “then bad behavior will undoubtedly persist.”

“If that were to occur, the inevitable conclusion will be reached that your firms are too big and complex to manage effectively. In…

View original post 207 more words

Advertisements

GoldSeek Live Webinar – Sept 9, 2013 [Dr Jim Willie & Rudi Fronk]


Hello to Everyone including all the new Friends and Subscribers,

Every time someone new follows my blog I get inspired…  Look at these interesting times we are in right now folks! I feel like now is the time for me to stand in my Integrity! I have a Vision! I have a vision that I am creating Integrity, Authenticity, Honor and Freedom for myself and everyone!  Will you stand for your life?  or will you live as a debt slave with debt based money paying interest to who?
I stand for public Banking and I stand for asset based money, whether that’s Gold, Silver, Bitcoin or Real Estate. I will continue to stand for integrity in commerce and human equality and dignity. Who will stand with me!
Enjoy my sincere and honest friend Jim Willie (~27 min), I really appreciate his amazing ability to communicate  complex Geo-political and fundamental Financial operations of the USFed and member World Central Banks.  Congratulations to Goldseek.com and their crew for creating this event.

Ed Reidhead

http://www.fraudstoppers.org/


 

http://www.fraudstoppers.org/

Breaking News for California Homeowners Facing Foreclosure:

Your mortgage could be legally unenforceable and you could be entitled to financial compensation for mortgage fraud and other legal violations. Legal errors, contract breaches, appraisal and mortgage fraud have caused the majority of mortgage transactions to be legally unenforceable.

Did you know that a government audit revealed that 83% of the mortgages surveyed contained legal violations?

Did you know these legal violations can turn the tables on your predatory lender and make them pay you to go away?

“I cannot decide for you the moral obligations you wish to pursue; but if a wrong has been committed against you (such as a clouded title or a fraud resulting from a mortgage loan) you have the duty as an American property owner to correct it. Filing a suit (in my book) reflects one’s personal responsibility”. Clouded Titles, p 13.

Stop playing games and wasting time trying to work with your corrupt lender, they are not in business to help you. If you’re interested in learning how to save your house from foreclosure by suing your predatory lender for mortgage fraud, get started right now by clicking here

http://www.fraudstoppers.org/

Everything Is Rigged: The Biggest Price-Fixing Scandal Ever


Everything Is Rigged: The Biggest Price-Fixing Scandal Ever

Hello Everyone,

Here is another source sharing on the state of US Banking and what their creating in our world…

Ed

April 25, 2013 1:00 PM ET

Conspiracy theorists of the world, believers in the hidden hands of the Rothschilds and the Masons and the Illuminati, we skeptics owe you an apology. You were right. The players may be a little different, but your basic premise is correct: The world is a rigged game. We found this out in recent months, when a series of related corruption stories spilled out of the financial sector, suggesting the world’s largest banks may be fixing the prices of, well, just about everything.

You may have heard of the Libor scandal, in which at least three – and perhaps as many as 16 – of the name-brand too-big-to-fail banks have been manipulating global interest rates, in the process messing around with the prices of upward of $500 trillion (that’s trillion, with a “t”) worth of financial instruments. When that sprawling con burst into public view last year, it was easily the biggest financial scandal in history – MIT professor Andrew Lo even said it “dwarfs by orders of magnitude any financial scam in the history of markets.”

That was bad enough, but now Libor may have a twin brother. Word has leaked out that the London-based firm ICAP, the world’s largest broker of interest-rate swaps, is being investigated by American authorities for behavior that sounds eerily reminiscent of the Libor mess. Regulators are looking into whether or not a small group of brokers at ICAP may have worked with up to 15 of the world’s largest banks to manipulate ISDAfix, a benchmark number used around the world to calculate the prices of interest-rate swaps.

Interest-rate swaps are a tool used by big cities, major corporations and sovereign governments to manage their debt, and the scale of their use is almost unimaginably massive. It’s about a $379 trillion market, meaning that any manipulation would affect a pile of assets about 100 times the size of the United States federal budget.

It should surprise no one that among the players implicated in this scheme to fix the prices of interest-rate swaps are the same megabanks – including Barclays, UBS, Bank of America, JPMorgan Chase and the Royal Bank of Scotland – that serve on the Libor panel that sets global interest rates. In fact, in recent years many of these banks have already paid multimillion-dollar settlements for anti-competitive manipulation of one form or another (in addition to Libor, some were caught up in an anti-competitive scheme, detailed in Rolling Stone last year, to rig municipal-debt service auctions). Though the jumble of financial acronyms sounds like gibberish to the layperson, the fact that there may now be price-fixing scandals involving both Libor and ISDAfix suggests a single, giant mushrooming conspiracy of collusion and price-fixing hovering under the ostensibly competitive veneer of Wall Street culture.

The Scam Wall Street Learned From the Mafia

Why? Because Libor already affects the prices of interest-rate swaps, making this a manipulation-on-manipulation situation. If the allegations prove to be right, that will mean that swap customers have been paying for two different layers of price-fixing corruption. If you can imagine paying 20 bucks for a crappy PB&J because some evil cabal of agribusiness companies colluded to fix the prices of both peanuts and peanut butter, you come close to grasping the lunacy of financial markets where both interest rates and interest-rate swaps are being manipulated at the same time, often by the same banks.

“It’s a double conspiracy,” says an amazed Michael Greenberger, a former director of the trading and markets division at the Commodity Futures Trading Commission and now a professor at the University of Maryland. “It’s the height of criminality.”

The bad news didn’t stop with swaps and interest rates. In March, it also came out that two regulators – the CFTC here in the U.S. and the Madrid-based International Organization of Securities Commissions – were spurred by the Libor revelations to investigate the possibility of collusive manipulation of gold and silver prices. “Given the clubby manipulation efforts we saw in Libor benchmarks, I assume other benchmarks – many other benchmarks – are legit areas of inquiry,” CFTC Commissioner Bart Chilton said.

But the biggest shock came out of a federal courtroom at the end of March – though if you follow these matters closely, it may not have been so shocking at all – when a landmark class-action civil lawsuit against the banks for Libor-related offenses was dismissed. In that case, a federal judge accepted the banker-defendants’ incredible argument: If cities and towns and other investors lost money because of Libor manipulation, that was their own fault for ever thinking the banks were competing in the first place.

“A farce,” was one antitrust lawyer’s response to the eyebrow-raising dismissal.

“Incredible,” says Sylvia Sokol, an attorney for Constantine Cannon, a firm that specializes in antitrust cases.

All of these stories collectively pointed to the same thing: These banks, which already possess enormous power just by virtue of their financial holdings – in the United States, the top six banks, many of them the same names you see on the Libor and ISDAfix panels, own assets equivalent to 60 percent of the nation’s GDP – are beginning to realize the awesome possibilities for increased profit and political might that would come with colluding instead of competing. Moreover, it’s increasingly clear that both the criminal justice system and the civil courts may be impotent to stop them, even when they do get caught working together to game the system.

If true, that would leave us living in an era of undisguised, real-world conspiracy, in which the prices of currencies, commodities like gold and silver, even interest rates and the value of money itself, can be and may already have been dictated from above. And those who are doing it can get away with it. Forget the Illuminati – this is the real thing, and it’s no secret. You can stare right at it, anytime you want.

KERRY CASSIDY INTERVIEW WITH KAREN HUDES- World Bank Legal Counsel and Whistleblower


Hello everyone,

I am so grateful to Karen and Kerry for creating this informative and monumental interview on the current state of affairs involving International Finance and World Bank operations and connected political events. This is a must see interview that is far ranging and provides deep background information.
When this information gets out to people and discovery of suppressed financial/political events reaches the general public, this may be the tipping point towards integrity and dignity. Feel free to comment on the information herein…

Enjoy,

Ed

From the website;  www.kahudes.net/

Who is Karen Hudes?

Karen Hudes studied law at Yale Law School and economics at the University of Amsterdam. She worked in the US Export Import Bank of the US from 1980-1985 and in the Legal Department of the World Bank from 1986-2007. She established the Non Governmental Organization Committee of the International Law Section of the American Bar Association and the Committee on Multilateralism and the Accountability of International Organizations of the American Branch of the International Law Association.
What did Karen Hudes blow the whistle on?

In 2007 Karen warned the US Treasury Department and US Congress that the US would lose its right to appoint the President of the World Bank if the current American President of the World Bank did not play by the rules. The 66 year old Gentlemen’s Agreement that Europe would appoint the Managing Director of the IMF and US would appoint the World Bank President ended in 2010 http://www.imf.org/external/np/cm/2010/042510.htm

In 1999 Karen reported the corrupt take-over of the second largest bank in the Philippines. Lucio Tan, a crony of Joseph Estrada, then President of the Philippines, acquired stock owned by government employees in Philippines National Bank (“PNB”) valued more than 10% of PNB’s outstanding capital without disclosure, as required by Philippines securities laws. Tan owned Philippines Airlines, in default on its loans from PNB. The government of the Philippines loaned $493 million to PNB after PNB’s depositors made heavy withdrawals. $200 million of a loan from the World Bank and a $200 million loan from Japan were cancelled. Estrada was ultimately impeached, and in 2007 an anti-corruption court in the Philippines required Estrada to refund graft he had plundered. The Bank’s Country Director in the Philippines reassigned Karen when she asked him to sign a letter warning the Philippines’ government that the Bank could not disburse its loan without a waiver from the Board of Executive Directors since the loan conditionality was not met. The World Bank’s Internal Audit Department refused to correct the satisfactory evaluation of the Bank’s supervision performance or the flawed report of the Institutional Integrity Department to the Audit Committee of the Board of Executive Directors. When the Audit Committee requested an audit of internal controls over financial reporting, KPMG, the external auditors, circumscribed the scope of their audit in violation of Generally Accepted Accounting Principles and Generally Accepted Auditing Standards.

Two days after informing the Board’s Audit Committee of the cover-up in the Philippines, Karen was reprimanded and placed on probation. The Dutch Ministry of Foreign Affairs requested the World Bank’s Audit Committee to look into the cover- up. Instead, the Chair of the World Bank’s Audit Committee requested an inquiry into the World Bank’s Institutional Integrity Department. The Senate Committee on Foreign Relations followed up with three letters to the World Bank. The World Bank forged documents and fired Karen in contempt of Congress. The World Bank also fired the Staff Association’s lawyer. The Staff Association stated that what had happened to Karen had damaged staff morale and prevented others from reporting misconduct. The World Bank’s Ethics’ Officer left in frustration after her request for an investigation by the World Bank’s Institutional Integrity Department was turned down.

Mr. Paul Volcker headed the 2007 inquiry into the Institutional Integrity Department. The Volcker Panel was discredited after sixteen staff employed in the Institutional Integrity Department received significant damage awards in compensation for abuses of authority to intimidate them during the Volker Panel investigation. A staff-member of the EU’s anti-fraud agency, Office Lutte Anti-Fraude, on the Volcker Panel wrote to Karen:
“My Director General and I met with a number of European Executive Directors of the World Bank a few weeks ago to discuss the Volcker Panel report. At the meeting there was also discussion about governance issues. My impression was that the European Executive Directors are well apprised of all relevant issues at the Bank and no further comment by OLAF is warranted even if it was within our legal competence.”

Karen informed Senator Bayh, “[t]he ongoing cover-up is an indictment of the probity of US oversight at the Bank and I would encourage the Senate to request GAO to look into it.” Senators Richard Lugar, Evan Bayh and Patrick Leahy requested GAO to investigate “internal resistance to increased transparency and accountability at the World Bank.” http://citizenoversight.com/pdf/blwb.pdf In 2008 Karen’s Congressman, Representative Chris Van Hollen, noted “that [Karen’s] claims and concerns have already been provided to the GAO…. and to the relevant congressional committees.” In 2009 GAO stated that it could not commence the inquiry “because of challenges we recently faced in gaining access to World Bank officials.” Senator Lugar asked what was delaying the GAO review during hearings on the World Bank’s capital increase.

Mr. Pieter Stek, then Executive Director for the Netherlands, and Chair of the Board Committee on Development Effectiveness, said:
“In a multilateral institution which should be governed by the rule of law and high standards of probity the charge of concealment from the Board of Executive Directors of information relevant to the exercise of its duty of supervising management and the persecution of the person who brings this to light is extremely serious. If correct, which I believe, this poisonous cocktail undermines good governance and ultimately the effectiveness of the Bank in fulfilling its mandate. I shall continue to assist Ms. Hudes in her efforts to have due process brought to bear, preferably by the Bank itself, on these issues of governance.”

David Brooks wrote:
“Then there are violations, when someone intentionally breaks the rules. Errors can be very hard for outsiders to detect. It was people inside the companies who were most likely to report fraud, because they have local knowledge. And yet 80 percent of these whistleblowers regret having reported the crimes because of the negative consequences they suffered. This is not the way to treat people who detect error.” http://brooks.blogs.nytimes.com/2011/06/13/living-with-mistakes/?comments#permid=34

RT: World Bank: Money Laundering Criminals | Interview with Whistleblower Karen Hudes


Hello friends and family!
Thanks to my friend Jean again over at http://jhaines6.wordpress.com here is a great article on Banking and one person’s struggle to bring attention to high level corruption. Karen can be found on facebook…
By,

Ed Reidhead

2012: What's the 'real' truth?

See previous posts of mine in Related Articles. . . ~J

Published on Jun 21, 2013
Thanks to F.

Abby Martin talks to Karen Hudes, former senior executive at the World Bank, about her experience blowing the whistle on the high level corruption within the international financial system and how her story was censored.

LIKE Breaking the Set @ http://fb.me/BreakingTheSet
FOLLOW Abby Martin @ http://twitter.com/AbbyMartin

Enhanced by Zemanta

View original post

Four Horseman of the Banking Cartel. They rule the World. 2013 No more Gold in America.


Rothchilds family are worth over 100 trillion dollars. This name Rothchild comes from Germany, The Rothchilds real family name is really Bauer. This Family changed the last name to match the name of a old Masonic German bank.
There are 13 Families that rule the world

Hello Everyone!

In case I have not documented this information before, here it is!  This is perhaps, one of the best presentations on Banking Houses and Central Banks and Banking Cartels.  There are several sources sharing on these subjects and more.

By,

Ed Reidhead

The Mad Science of the National Debt – by Matt Taibbi


Hello everyone!

Here is the amazing financial reporter of Rolling Stone magazine, Matt Taibbi! Matt has an amazing ability to penetrate the unclear and shadowy topic of Federal Reserve Bank Operations.
Ed

2012: What's the 'real' truth?

Rolling Stone columnist Matt Taibbi. (photo: Current TV)
Rolling Stone columnist Matt Taibbi. (photo: Current TV)

go to original article
Source: Reader Supported News

By Matt Taibbi, Rolling Stone

23 May 13

elcome back to the dumb season. It’s debt-ceiling time again.

We’ve been at this two years now. It was back in 2011 when the Republican Party, seized by anti-government furor, first locked on the lifting of the federal debt ceiling – an utterly routine governmental mechanism that allows the Treasury to borrow to pay for spending already approved by the entire Congress, Republicans included – as a place to hold a showdown over … government spending. That first battle resulted in a “Mutually Assured Destruction”-type stalemate, in which both parties agreed that if they couldn’t reach a deal by New Year’s Day 2013, a series of brutal, automatic, across-the-board spending cuts would take effect. At the time, it seemed unthinkable Congress would let that happen. By the time we passed…

View original post 3,683 more words

World Bank Whistle-blower: “Precious Metals To Serve As An Underpinning For Paper Currencies”


World Bank Whistle-blower: “Precious Metals To Serve As An Underpinning For Paper Currencies”

Enjoy this article from the Silver Doctors…  and congratulations to Karen Hudes for demonstrating courage and integrity…

Ed

Karen Hudes, Former Senior Counsel to the World Bank—now turned whistle-blower.

I had the opportunity yesterday to speak with one of the western world’s most courageous and astute women, Karen Hudes, Former Senior Counsel to the World Bank—now turned whistle-blower.
It was a powerful conversation, as Karen spent 20 years with the World Bank as an attorney and economist, before being “let-go” after reporting internal fraud and corruption.
During the interview Karen indicated that the world is rapidly changing, with western power structures breaking down, economic & political influence gravitating to BRICs nations, all amid a pending currency transition which will highly favor precious metals.   Hudes stated: All of the countries of the world are going to allow precious metals to serve as currency, and this will be an underpinning for paper currency, as we’ll have both systems at the same time.”

From Tekoa Da Silva:

Starting out by discussing the shocking centralized power she witnessed while working at the World Bank, Karen explained that, “A study done by three [Swiss] systems analysts who used mathematical modeling [shows] how the [world’s] 43,000 transnational corporations were being controlled through interlocking corporate directorates. There’s a group of 147 companies, most of them are financial institutions, and what they’ve done, is through the interlocking directorates, they control 40% of the net worth of these [43k] companies, and 60% of their earnings…so that group has been using the presidency of the World Bank as kind of a puppet to dominate the world—that’s [now] finished.”

A major shock to that centralized power base, according to Karen, was the recent move by BRICs nations leaders to bypass the World Bank for their financing needs, by establishing their own development bank. “As the BRICs [nations] economic power grows,” she explained, “they’re not going to be strangled anymore through the grabbing [of] their resources…So their decision to start their own development bank was their way of letting [world] governments know…that its time to end this corruption.” 

Major moves toward monetary independence are also being made by growing numbers of U.S. states, Karen added. She explained that, “The states are starting to have legislation recognizing gold and silver bullion as legal currency. This is [also] a very strong signal the states are sending to the federal government, that the time to get serious about ending the corruption in the financial system is now here.”

When asked her thoughts on what this all means for the world monetary system, Karen said, “What’s going to happen, is we’re going to have all the countries of the world, sit down and figure out what’s going to be the best, most orderly transition from the current system that we have, [which has] profound imbalance and unsustainable deficits…[this change] is going to happen as each country makes its preference known, because the system we have now is not transparent, and the biggest change [in the new system], is that there’s going to be transparency.”

That transparency may be found through a gold-backed currency system, Karen noted, as,All of the countries of the world are going to allow precious metals to serve as currency, and this will be an underpinning for paper currency, [as] we’ll have both systems at the same time. This is my guess, as I mentioned—I am an economist.”

As a final comment speaking towards her difficult journey as a World Bank whistle-blower, Karen said, “I’ve been struggling now for years, to tell the American public what’s [been] going on. I haven’t gotten through, because this [financial] group has bought up the press and has been spreading disinformation systematically. That undermines the whole point of a democracy. How can voters vote without an informed opinion, without the information that they’re entitled too? So this strangle-hold on information is going to end in very short order.”
——

This was a powerful interview conducted with a great American patriot and honorable world citizen. Karen is setting an example for the history books, and her interview is required listening for global thinkers and market students.

To listen to the interview, left click the following link and/or right click and “save target as” or “save link as” to to your desktop:

>>Interview with Karen Hudes (MP3)

To learn more about Karen and support her work, visit: Kahudes.net

11 Reasons Why The Federal Reserve Should Be Abolished


11 Reasons Why The Federal Reserve Should Be Abolished

Hello,

Here are some facts about the Federal Reserve Banking System you may not know.  Enjoy this article.

Ed

 

Submitted by Michael Snyder of The Economic Collapse blog,

If the American people truly understood how the Federal Reserve system works and what it has done to us, they would be screaming for it to be abolished immediately.  It is a system that was designed by international bankers for the benefit of international bankers, and it is systematically impoverishing the American people.

The Federal Reserve system is the primary reason why our currency has declined in value by well over 95 percent and our national debt has gotten more than 5000 times larger over the past 100 years.

The Fed creates our “booms” and our “busts”, and they have done an absolutely miserable job of managing our economy.  But why do we need a bunch of unelected private bankers to manage our economy and print our money for us in the first place?  Wouldn’t our economy function much more efficiently if we allowed the free market to set interest rates?

And according to Article I, Section 8 of the U.S. Constitution, the U.S. Congress is the one that is supposed to have the authority to “coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures”.  So why is the Federal Reserve doing it?  Sadly, this is the way it works all over the globe today.  In fact, all 187 nations that belong to the IMF have a central bank.  But the truth is that there are much better alternatives.  We just need to get people educated.

The following are 11 reasons why the Federal Reserve should be abolished…

read more here…

%d bloggers like this: