You know that Money on your Bank Account? Well, it’s not Yours

By SUSANNE POSEL | OCCUPY CORPORATISM | AUGUST 24, 2012

In June of 2012, Eric Bloom, former chief executive, and Charles Mosely, head trader of Sentinel Management Group (SMG) were indicted for stealing $500 million in customer secured funds. Both Mosely and Bloom were accused of “exposing” customer segregated funds “to a portfolio of highly risky derivatives.”

These customer funds were used to “back up personal investments” which were part of “collateral for a loan from Bank of New York Mellon” (BNYM). This loan derived from stolen customer monies was “used to purchase millions of dollars worth of high-risk, illiquid securities, including collateralized debt obligations, or CDOs, for a trading portfolio that benefited Sentinel’s officers, including Mosley, Bloom and certain Bloom family members.”

Fast forward to August 9th of 2012, and the 7th Circuit Court of Appeals (CCA) rules that BNYM can be moved to first in line of creditors over the customers that had their funds stolen by SMG.

When a banking customer deposits their money into their bank account, the Federal Deposit Insurance Corporation (FDIC) and Securities Investor Protection Corporation (SPIC) are in place to protect the customer from fraud or theft. The ruling from the CCA means that these regulatory systems will not insure customer funds, investments, depositors and retirees who hold accounts in banks. In fact, the banking institution is now legally allowed to use those customer funds deposited as collateral, payment on debts for loans made, or free use on the stock market to purchase investments as the bank sees fit.

Fred Grede, SMG trustee, explained that brokers are no longer required to keep customer money separate from their own. “It does not bode well for the protection of customer funds.”

Since the ruling gives banks the right to co-mingle customer funds with their own, no crime can be committed for the use of customer deposited monies.
According to Walker Todd , former lawyer for the Federal Reserve Bank of New York and Cleveland: “Basically, there is a new 7th Circuit opinion saying that there is no reason to impose a constructive trust on a lender’s takings of customers’ funds from client commodity firms that were used (inappropriately) to secure the firms’ borrowings, as long as the lender can say that it did not know WITH CERTAINTY that customers’ funds were being repledged. Negligence and misappropriation (vs. knowing criminal intent) are now a sufficient excuse for letting the lender keep the money and go to the head of the line for distributions in bankruptcies of the client commodity firms.”

When a customer deposits money into a bank, the bank essentially issues a promise to have those funds available when the customer returns to withdraw the deposited amount. When the same customer withdraws funds from their account (whether checking or savings) the customer assumes that the bank has enough funds to cover their withdrawal; including the presumption that their monies are separate from the bank’s assets.

Now, those funds are up for grabs by the bank at their discretion without explanation to the customer – nor is the bank obligated to recoup the customer should they “lose” those funds due to bad loans, bankruptcy or stock market loss.

In Texas, Pamela Cobb, manager of Bank of America (BoA), stole an estimated $2 million from customer funds for personal use. Cobb had been taking customer segregated funds since 2002.

Customers have complained of fraudulent charges placed on their accounts that BoA cannot explain. When the customer brings these charges to the in-house fraud department, they are given the run-around until they acquiesce.

Other customers have had their private possessions stolen right out of their safety deposit box held at BoA. The safety deposit box was drilled into and the contents shipped to the BoA corporate holding center in South Carolina.

In 1992 to 2003, Citibank called their theft of customer funds “account sweeping” wherein they stole more than $14 million from customers nationally. Using computerized credit card processes to remove positive and negative balances from customers, the scheme included double payments or funds paid out on returned purchases that were then attributed back to the customer.

At Chase bank, an anonymous employee opened an account under a customer name (targeting an Alzheimer’s sufferer), complete with a personal debit card. An estimated $300 per day was withdrawn on the fraudulent account. When family representing the victim alerted Chase, they brushed them off with an internal investigation claim – even as the family sought legal action.

Banking fraud against the elderly has risen of late, since banks realize they can steal massive amounts of cash from their aging customers with little to no repercussions.

The recent ruling on SMG has given the banking industry the legal backing they have been lacking when stealing from their customers.

Our financial institutions have been planning for a financial collapse wherein the US government will not offer assistance. The resolution plans required by the Federal Reserve Bank, described schemes to have the major domestic banks remain afloat by selling off assets, finding alternative sources of funding, reducing risky measures that make a quick buck. These strategies were to be perfected with “no assumption of extraordinary support from the public sector.”

The mega-banks, through Wall Street, are also acquiring firearms, ammunition and control over private mercenary corporations like DynCorp and ‘Blackwater” as authorized by the Department of Defense (DoD) directive 3025.18 .

DynCorp is a military-based private mercenary contractor that provides (among other services) intelligence training and support, international security, contingency plans and operations. Ninety-six percent of their funding is based on annual revenues from the US federal government. The international branch of DynCorp has operated as a “police force” even assisting local law enforcement during Hurricane Katrina.

Named as investors for the amassing of gun and ammunition manufacturers are Citibank, BoA, Barclays and Deutsche Bank who are pouring money into Cerebus and Veritas Equity who have taken over private corporations involved in the controlling riot situations.

The Federal Reserve Bank, one of the heads of banking cartels, has their own police force which operates as a protective security for the Fed against the American public. As part of the Federal Reserve Act signed in 1913, the designation of a Federal Law Enforcement – special police officers that are exclusively regulated by authority of the Fed (whether in uniform or plain clothes. These specialized police officers (who train with Special Response Teams) can work in tandem with local law enforcement or US federal agencies. These officers are heavily armed with semi-automatic pistols, sub machine guns and assault rifles as well as body armor.

Of recent, when withdrawing cash from an ATM, the daily allotted amount has decreased with some banks, thereby forcing the customer to go into the branch and extract the difference with a teller. At this point, according to anonymous informants, the customer is taken into a backroom to be questioned as to why they want the cash, what they are purchasing with the cash, why they are not choosing to use a debit card or another form of digital trade to make the purchase. These questions are not only intrusive, they are illegal.

Some anonymous sources have said that banking representatives who conduct the integrations are directed to keep a record of customer responses on an online application that will be sent to the FBI in conjunction with Patriot Act mandates on tracking banking activity.

Customer funds are no longer secure, no longer backed by the FDIC or other insurance corporations, and banks are legally allowed to co-mingled customer money with other funds of the bank. The only safe place for your money is with you.

Now is the time to close your bank account.

La Resurrección de Osama Bin Laden

Luis R. Miranda
The Real Agenda
06 de mayo, 2011

¿Desde cuándo lo que dicen los medios de comunicación es creíble? ¿Desde cuándo lo que dice un contratista de Estados Unidos es creíble? ¿Desde cuándo lo que dice Al-Qaeda es creíble?

Los medios de comunicación corporativos han mentido por 50 años sobre la realidad histórica de nuestras vidas. Ningún contratista que recibe 500.000 dólares al año del gobierno estadounidense va a contradecir lo que los sin vergüenzas en Washington dicen. Ningún grupo terrorista fundado por Estados Unidos en los años setentas, que recibió armas y millones de dólares desde entonces y el cual fue usado para matar cristianos y musulmanes en Sudán, Bosnia, Afganistan e Irak, cuyo cabecilla es el hijo de un millonario Saudita, hará nada diferente de lo que sus creadores quieran que haga.

Cuatro días antes de que Obama anunciara la muerte de Bin Laden (aunque ha estado muerto desde 2001), Ben Bernanke, anunció que Estados Unidos mantendría las tasas de interés bajas, para poder acomodar los fraudes de Wall Street y así evitar la corrección que debe ocurrir para que el mundo salga de la actual crisis económica. Después, varias agencias que evalúan la confiabilidad del gobierno estadounidense como deudor, manifestaran que el gobierno debería tener una calificación de “C”, y no de AAA. También en esos días, el precio futuro del petróleo había subido y sobrepasado 110 dólares por barril. El precio del dólar había caído a los niveles más bajos en tres años y como consecuencia, el precio del oro subió estrepitosamente en 20 dólares.

Y de repente, el domingo en la noche, el rumor se corre que el presidente Obama aparacería en televisión para hablar sobre una operación militar en Pakistán.

Todo lo anterior se olvidó…

Después de que el gobierno estadounidense tuvo que cambiar su historia sobre la operación militar en Pakistán varias veces y tuvo que aceptar que Bin Laden nunca estuvo armado, nunca uso a su mujer como escudo, que no hubo tiroteo y que el equipo de seguridad de Obama no había visto el video como primero se había reportado, hoy, un contratista del gobierno estadounidense publicó un informe en el que alega que Al-Qaeda confirmó la muerte de Bin Laden. Este contratista, el Instituto SITE, publicó su informe justo a tiempo para mantener a flote la decaída farsa del gobierno encabezado por Barack Obama.

Pero, ¿qué es SITE?

SITE es un contratista del gobierno norteamericano, que en ocasiones anteriores fue desenmascarado por publicar falsos comunicados de Al-Qaeda. Esta organización produjo falsos artículos, audios y videos que los medios de comunicación corporativos siempre trataron como legítimos. Entonces, el gobierno estadounidense depende de una organización de poca reputación y a la cual paga medio millón de dólares al año para apuntalar el desmoronamiento de la fábula que fue fabricado en la noche del domingo.

“Al Qaeda emitió un comunicado en los foros yihadistas que confirma la muerte de su líder, Osama bin Laden, según el Grupo de Inteligencia SITE, que monitorea los mensajes de militantes”, informó la CNN. “La declaración, traducida por SITE, elogió el fallecido del militante, amenazó con tomar medidas contra los Estados Unidos, e instó a los paquistaníes a” levantarse y rebelarse. “

SITE es una organización que pertenece al complejo militar-industrial y ha sido sorprendido in fraganti tantas veces, que solo un publico crédulo e ignorante podría creer lo que se diga en su sitio o lo que esta organización diga que encontró en un foro de mala muerte. El Instituto SITE fue fundado por Rita Katz, la hija de un espía israelí. Katz ha colaborado estrechamente con el Departamento de Justicia, el Departamento del Tesoro y el Departamento de Seguridad Nacional.

Toda la información conocida sobre SITE indica que no es más que un caballo de troya que es usado regularmente por el complejo militar-industrial para publicar cintas de vídeo de Al-Qaeda como parte de la campaña propagandística para justificar la brutal guerra contra el terrorismo. SITE fue milagrosamente capaz de obtener una cinta de vídeo de Bin Laden antes que está fuera liberado por el grupo Al-Qaeda en 2007.

Y para dar más “credibilidad” a lo que SITE ha dicho, la organización terrorista Blackwater, también contratista militar de EE.UU. fundada por el ex Navy Seal Erik Prince, ha dicho que lo que SITE dice es verdad.Blackwater estuvo involucrado en varias masacres de civiles iraquíes desde 2003, cuando Estados Unidos invadió Irak para remover a Saddam Hussein. SITE también ha dicho que junto con el comunicado encontrado en el foro, Al-Qaeda pretende publicar una cinta de audio, la cual ellos pretenden publicar primero.

Para esconder el hecho que Anwar Al-Awlaki, un doble agente de la CIA y miembro de Al-Qaeda había cenado en el Pentágono,SITE publicó un video de Awlaki diciendo que la organización estaba comprometida más que nunca con yihad global, mientras alabó las acciones del suicida de Fort Hood y el desconocido que fue ayudado por las agencias de intelligencia para abordar un avión que se dirigía a Estados Unidos sin tener pasaporte o VISA.

Según reporta Paul Joseph Watson, en Infowars.com, el mismo fin de semana, SITE publicó una cinta de Adán (Pearlman) Gadahn, otro doble agente de la CIA, quien alabó a Farouk Abdulmutallab y Shazad Faisal, los supuestos sospechosos del intento de terrorismo en Times Square, Nueva York. Adam Pearlman es un espía de Mossad, la agencia de inteligencia Israelí.

Debido a que la historia oficial sobre la fábula de Bin Laden se ha derrumbado, y la Casa Blanca tuvo que “corregir” los detalles de lo que realmente sucedió, el establecimiento político y corporativo ha decidido implementar un plan para asustar al público norteamericano y del resto del planeta. Nada nuevo. Por eso es que continuaremos escuchando políticos clamando por más guerras, medios de comunicación haciendo eco de falsas amenazas emitidas por contratistas con dudosa credibilidad y personas que se creen todo lo que escuchan de estos medios.

“Todo lo que tenemos que temer es al miedo mismo.”

Karzai: Blackwater behind terrorism

PressTV

Afghan President Hamid Karzai has said US private security firms, including Xe Services LLC, formerly known as Blackwater, are being behind terrorism in the country.

At a press conference in Kabul, Karzai said that US security companies have been behind explosions that have claimed the lives of women and children.

The Afghan president added that they have caused “blasts and terrorism” in different parts of Afghanistan over the past months.

The Afghan president said his administration cannot even distinguish between the bomb blasts carried out by US security firms and those of the Taliban militants.

“In fact we don’t yet know how many of these blasts are by Taliban and how many are carried out by them (US security companies).”

Blackwater has been involved in the murder of several Afghan citizens over the past years. The company has also been struggling with a trail of legal cases and civil lawsuits, including one for killing 17 Iraqi civilians during a Baghdad shootout in 2007.

Earlier in June, the CIA reportedly admitted that Blackwater had been loading bombs on US drones that target suspected militants in neighboring Pakistan.

The Afghan president has also pointed out that American private security firms are corrupt and have fueled nine years of war.

“Deals under the name of private security companies are cut in the hallways of American government buildings. It involves 1.5 billion dollars,” he said.

Karzai has accused security companies of running what he called an economic mafia based on crooked contracts.

“The money, 1.5 billion dollars, is being distributed there (in the United States) on Blackwater [sic] and this and that.”

The developments come as the notorious Blackwater has been awarded a five-year State Department contract worth up to USD 10 billion for operations in Afghanistan.

In August, Karzai ordered all security firms to disband before the end of the year.

Some diplomats and military officials say Karzai has been under intense pressure to reconsider his decision.

However, Karzai says he is steadfast in his decision to dissolve foreign security firms in the country despite US pressure to reconsider the decision.

The private companies are said to be in charge of providing security for foreign officials and embassies as well as development projects in Afghanistan.

Karzai has blamed mercenaries for civilian deaths and corruption in the troubled region.

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