Extrapolate the details in the following article by David Noakes to the bank crisis in the US and you get a plausible explanation for a disaster whose causes so far have not been explained or even investigated.
The author blames deregulation, although that was a secondary cause in the US. In the American media, deregulation is often blamed as well but without even a hint at the supposed mechanisms by which a “lack of regulation” might have operated to bring down the banks, and particularly how this would have happened simultaneously all over the globe. Indeed keen observers outside the elitist system have pointed out plausible causes and plausible mechanisms for our banks’ failures, such as the CRA and Fanny-Freddy and the complete lack of documentation and lack of down payments required by those semi-government Democrat-managed entities for mortgage lending. Laigle’s Forum is one of the few sites that has even attempted to tackle this issue in some depth. We find that rather than just simple deregulation or lack of regulation, it was in fact over-regulation that wrought the havoc. Specifically, Clinton had strengthened the CRA, requiring banks to make $1 trillion in loans to “underserved communities.” The only way to accomplish this was to force them into requiring no documentation of income and no down payment, absolutely suicidal policies. Bush, put up a meek fight, then went right along, urging a Zero Downpayment Initiative at his HUD web site in 2005.
But I have published the following article to show the striking similarity between the behavior of bankers on both our continents.
Knowing the extent of corruption among money managers, the below-described situation in the UK does not seem so far fetched a scenario for this country either.
Is there a clue in here for us? Note that managers of failed institutions here also got bonuses and exorbitant salaries, and none left in shame. No shame was shown on either side of the Atlantic and no one has apologized for bringing down Western finance and threatening the financial security of every citizen of dozens of countries. No accountability was demanded by government. And indeed, a dissident British banker was murdered for protesting the bad policies in place there (see below).
Compare this with the strong arm tactics used in the US when some banks wanted to refuse the bailout money. Wasn’t it really hush money?
Is it really plausible that the bizarre behavior witnessed in US banks would have mirrored the behavior of bankers on the other side of the Atlantic just by accident? How about the bailouts? They happened in concert all over Europe as well, over the protests of the citizenry, especially in Britain. Here, 90% of all calls to the US Congress urged lawmakers to vote against the bailout.
One thing is certain: International elitists in government and finance do not operate independently of each other, they are basically all in agreement, they use their willing media lackeys to overcome the public’s mistrust, and public mistrust of them is at an all-time high everywhere. There is no debate over the “wisdom” of the bailouts, no hint that the payments would be accompanied by any change in policy or regulations. And this despite the whispered accusation that bank failures were due to under-regulation – an accusation that catapulted ultra-elite, ultra-Left, ultra-incompetent Obama to power. Why wouldn’t bailout payments under Obama be predicated then on the passage of new regulations and strict compliance therewith?
Clearly, the public is being led around by their noses by an international group of cynical idealists and elitists who think we are all stupid.
It is a miracle that we have not yet seen massive protests.
But then, our bellies are still full.
Did directors deliberately destroy their own banks?
By David Noakes
The Royal Bank of Scotland (RBS) went from assets of plus £88 billion in 1999 to estimated liabilities of minus £1.3 trillion in 2009 – equal to a year’s income (GDP) for the whole of Great Britain. If Directors with mental disabilities had been appointed, they might have reduced the bank’s value by half. But to utterly destroy it on so stupendous a scale took real knowledge and determination.
It seems clear the wholesale mismanagement and corruption of banks by their directors was not unbelievable incompetence, but criminal. The government huffs and puffs at bonuses and pensions paid as a reward for failure, but then in every case it lets those corrupt payments, totaling billions of pounds, stand without passing legislation to confiscate.
It looks as though these huge bonuses and pensions were intentionally paid to compensate directors precisely for destroying their own banks, and for a job well done.
HSBC quietly possesses an ethical, Christian board. They are well managed, profitable, and took no part in creating this crisis. Standard Chartered Bank’s profits actually went up, even in 2008/9.
But take the case of Abbey National. In July 2004 their risk management officer, Richard Chang, was objecting that the run down of the bank by directors was deliberate (it resulted in the Bank’s ownership being transferred to a European Bank, Santander.) The HBOS whistleblower alleged the same.
Anonymous documents then arrived at the board with similar suggestions, with additional evidence of sexual impropriety among Directors. Richard denied he had sent them, but was called in for a two and a half hour interrogation by the directors at the hands of Kroll corporate security, during which he was bullied and threatened, and at the end he was found dead five floors below at the bottom of the internal Atrium in Abbey’s London head office in Euston.
The courts, CPS, coroner, FSA, directors and police have closed ranks to prevent a criminal prosecution or investigation. These services all have large numbers of freemasons in their senior structures.
High ranking Freemasonry runs right through this banking crisis. All the failed banks, Northern Rock, Abbey, RBS, Halifax Bank of Scotland (HBOS) had Freemasonry controlling their boards. Gordon Brown is a 33rd degree Scottish Rite Freemason, as was Tony Blair; there are 400,000 of them in Britain.
Brown’s job seems to be to take advantage of the destruction of the banks, by pouring far too much of our economy into those ready made back holes, which will destroy the Pound Sterling.
The crisis was caused by the USA and EU governments deregulating banks in 1999. Massive, self collapsing bubbles predictably formed in every market including housing, stocks, and derivatives. It is deregulation that enabled corrupt boards to wreck their own banks. They now have estimated liabilities of £7.2 trillion or £250,000 per household; they should now go bust; Britain cannot afford to save them.
Freemasonry and Common Purpose are the European Unions’ foot soldiers on the ground in Britain. They know the EU dictatorship cannot be built while there is a strong Britain on the doorstep; we stopped them twice before in 1918 and 1945, and Britain has to be destroyed if the dictatorship is to succeed.
These British traitors get their massive payoffs for handing Britain to the EU on a plate, poverty stricken and stripped of democratic defences.
Many of those won’t realise that the initial deflation of the recession they worked so hard to create will, with the trillions Brown is borrowing for the banks, turn into hyper inflation with super high interest rates, and in two years they could be starving with the rest of us, their gravy trains and bribe money useless, their houses repossessed, as ours will be.
If you wish to avoid this ghastly future, you need to do your part now in talking to people about a General Strike against the EU, our government, Law Lords, and all the senior officials who are so deliberately sabotaging our nation. David Noakes. eutruth.org.uk. 07974 437 097