If this shouldn’t put a shiver down a spine I don’t know what will. Oh, the ringing of hands. Too big to fail. Yes indeed. We had to bail out the big boys. Now we find out they are even getting bigger. Instead of breaking up these monolithic institutions, we are simply allowing them to grow. Am I the only one who is seeing where we are headed? It does not require one to believe in conspiracies to foretell the outcome of this. But then again, that is what the game plan requires. Total control by a handful of people and our destiny is sealed. The full story is a great read, and highly recommended. Here its:
These megabanks have rigged the game so that the wealth of the nation is slowly transferred from us to themselves and to the international financial interests that control them.
Congress was told that if the “too big to fail” banks did not receive bailouts that there would be chaos in the streets and this country would plunge into another Great Depression. Since that time, however, essentially no efforts have been made to decentralize the U.S. banking system. Instead, the “too big to fail” banks just keep getting larger and larger and larger. Back in 2002, the top 10 banks controlled 55 percent of all U.S. banking assets. Today, the top 10 banks control 77 percent of all U.S. banking assets. Unfortunately, these giant banks are also colossal mountains of risk, debt and leverage. They are incredibly unstable and they could start coming apart again at any time. None of the major problems that caused the crash of 2008 have been fixed. In fact, the U.S. banking system is more centralized and more vulnerable today than it ever has been before.
It really is difficult for ordinary Americans to get a handle on just how large these financial institutions are. For example, the “big six” U.S. banks (Goldman Sachs, Morgan Stanley, JPMorgan Chase, Citigroup, Bank of America, and Wells Fargo) now possess assets equivalent to approximately 60 percent of America’s gross national product.
They are predators.
In fact, a very revealing article in Rolling Stone described Goldman Sachs this way….
The first thing you need to know about Goldman Sachs is that it’s everywhere. The world’s most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.
Unfortunately, they may have actually been understating things a bit.
These megabanks have rigged the game so that the wealth of the nation is slowly transferred from us to themselves and to the international financial interests that control them.
They can make money if the markets are going up, and they can make money if the markets are going down.
Today, there are more than 1,000 U.S. banks that are on the “unofficial list” of problem banking institutions.
In the absence of fundamental changes, the consolidation of the banking industry is going to continue.
Meanwhile, the “too big to fail” banks are flush with cash and they are getting serious about expanding. The Federal Reserve has been extremely good to the big boys and they are eager to grow.
For example, Citigroup is becoming extremely aggressive about expanding….
Citigroup has been hiring dozens of investment bankers, dialing up advertising and drawing up plans to add several hundred branches worldwide, including more than 200 in major cities across the United States.
BUNKERVILLE | God, Guns and Guts Comrades! 