Posted on February 20, 2015 by WashingtonsBlog
No Longer Focused On Deposits Or Loans
Bloomberg reported last month:
“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 http://www.washingtonsblog.com/2014/11/big-banks-take-huge-stakes-aluminum-petroleum-physical-markets-manipulate-prices.html).
The evidence demonstrates that the big banks have essentially become huge criminal enterprises … waging warfare against the people of the world.
Peter is a Real Estate Broker at Professional Brokers Group (License No. 023000), covering the greater Short Sale area of Colorado.
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Peter Janisch specializes in short sales in Short Sale Realtor. I am your Short Sale Realtor Short Sale Specialist Realtor and Short Sale Realtor loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.