Swimming with the Sharks: Goldman Sachs, School Districts, and Capital Appreciation Bonds

http://www.globalresearch.ca/swimming-with-the-sharks-goldman-sachs-school-districts-and-capital-appreciation-bonds/5432544

Too Big To Fails” Have Stopped Being Banks

“Banks don’t have a need for deposits, and the demand for loans by households and firms is weak,” Niels Storm Stenbaek, chief economist at the Danish Bankers Association, said in a phone interview.
Wait … what?

Banks don’t need deposits? They’re not giving many loans? Isn’t that what banks do?

If they’re not collecting deposits and making loans, what are they doing?

In reality, big banks aren’t really acting like banks anymore. Big banks do very little traditional banking, since most of their business is from financial speculation. For example, we noted in 2010 that less than 10% of Bank of America’s assets come from traditional banking deposits.

The big banks are manipulating every market. They’re also taking over important aspects of the physical economy, including uranium mining, petroleum products, aluminum, ownership and operation of airports, toll roads, ports, and electricity. And they are using these physical assets to massively manipulate commodities prices … scalping consumers of many billions of dollars each year (more here and more).

The evidence demonstrates that the big banks have essentially become huge criminal enterprises … waging warfare against the people of the world.


Apart from the above-described manipulation, virtually all of the big banks’ profits come from taxpayer bailouts and subsidies (see this, this and this). Why don’t they need deposits? Because the taxpayers are showering them with money.

And they don’t need deposits because – as is now admitted by the mainstream – banks create money out of thin air. In other words, banks don’t need deposits in order to make loans.

At the same time, the big banks have sat on the money the government threw at them – with the encouragement of the Fed – instead of loaning it out to Main Street to kickstart the economy. As we noted in 2012, small banks are much more interested in making loans to the little guy than the TBTFs:

USA Today points out:


http://goodnewscommunications.net/too-big-to-fails-have-stopped-being-banks/


Be sure you collect your next speaking fee at these criminal organizations.

We can argue on DU all we want, but there will not be a candidate who will win the primary who is not bank approved.

Obama almost did it with
out the banksters at first .

Then shit changed on matching funds and other campaign promises on where and who would finance his run........... I agreed at the time of his change to get more money to win.


I think you are right ..... the power of the too big to fail banks are ruling nations now.

His kingmaker was Penny Pritzker. He walked in as a 1st term Senator with a war chest. I think he said yes to everything bankers wanted and Hillary thought she was worth a higher price. I really do think it's that simple. He undercut her offers.

Geitner, Summers, no bankers in jail, what more evidence do we need that that was one area that was untouchable?

with Glass-Siegel, which enable them to be in the world position they are in now.

I was the first to show DU the presidential cuff links connections to the executive branch early on.which alarmed me......of my delusions on what is what

. yeah that sucked, but it opened a door to what is really going on

They have been planning this for quite some time. And they have won. The last ones to go will be the social safety net and they're already chomping away at it. It's damned depressing.

The Bank of North Dakota is often cited as a model of what a bank could be and how it can serve the people. I wonder why we haven't seen a push for more banks like this.

It would put them out of business....yet we are indoctrinated to believe privatizing everything is the solution. The thing they forget to tell you(privatizing ) is a solution for those with money and wealth not the working man

Can you believe that my home state, Oklahoma, was once a hotbed of socialism?

SO many people.

It would be a great place to "direct deposit" social security, military pay, income tax refunds, and so on.

all the profits stayed there, they did not have to pay big salaries and give it away to share holders. J.P. Morgan and the other family banks did not have to really pay the boss. All the profits were his anyway, so he just kept it in the bank and loaned it out to make more money. That is the same way the state owned banks work. Keep the profit in the bank and loan it out.

State banks back them up with extra credit to enable then to make loans that they couldn't capitalize themselves. A state bank would not be a service bank with checking, savings, etc, but more like a mini-Federal Reserve. Not that North Dakota has more community banks per capita than any other state.