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PERRIN LOVETT

~ Deo Vindice

PERRIN LOVETT

Tag Archives: banksters

When Was The Last Time You Went INSIDE A Bank?

04 Sunday Oct 2020

Posted by perrinlovett in Legal/Political Columns, News and Notes

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banks, banksters, debt, depression, Economic collapse, Vox Day

January? Last year? Can’t remember? Neither can I.

I do know that the banks I do business have essentially sealed their buildings to the public. The ATM is now and ITM(!) where equipment permitting, you can speak “directly” with a teller. I’ve heard of branch closings. Others have too. Vox Day issues a warning:

Banks don’t make their money from deposits anymore. And increasingly, they don’t make money from loans anymore. So there simply isn’t any point in maintaining branches for service to non-revenue-producing customers who have no savings and can’t take out any more loans.

It’s interesting that they’re trying to sell the real estate, though. That tends to indicate that they need cash. It won’t be even remotely surprising if the next financial crisis starts later this month; I would be very surprised if it didn’t start before the end of 2021.

Read his whole post, including the email. Then reconcile that with what you know about your town, small or large. Does any of this suggest a remotely healthy economy? And it’s been going on since before the last crisis. Banks and mega-corporations now exist by stealing gold and accepting USG/Fed monetary methadone (thanks, GC!). It’s (way past) time for a reset.

Just a “Temporary” Measure

02 Thursday Apr 2020

Posted by perrinlovett in News and Notes

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Tags

banksters, economy, Federal Reserve

The Federal Reserve is easing up on those onerous reserve requirements which banks haven’t had to meet in decades.

The Federal Reserve on Wednesday eased rules around how banks account for their supersafe assets, a move meant to boost the flow of credit to cash-strapped consumers and businesses during the coronavirus slowdown.

The Fed said it would exclude for one-year Treasurys and deposits held at the central bank from banks’ supplementary leverage ratio calculation. The ratio measures capital—funds that banks raise from investors, earn through profits and use to absorb losses—as a percentage of loans and other assets.

Big U.S. banks must maintain capital equal to at least 3% of all of their assets, including loans, investments and real estate. By holding banks to a minimum ratio, regulators effectively restrict them from making too many loans without increasing their capital levels.

The banks are sitting on giant stockpiles of cash, U.S. government debt and other safe assets. By tweaking how the ratio is calculated, the Fed is effectively trying to engineer a swap. Remove Treasurys and central bank deposits from the calculation, the thinking goes, and banks should be able to replace them in the asset pool with loans to consumers and businesses.

Hey, look! The little dog is tugging on that curtain! It’s only temporary, they say – just like income tax withholding! So, what are they planning? To help us borrow our way to prosperity? Or, just out of a gravity well of existing debt? This stuff is so transparent that they may have to move up football season to divert the normies. Oh, already planning that. Carry on!

“May” Need Help

01 Wednesday Apr 2020

Posted by perrinlovett in Legal/Political Columns

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banksters, economy, IMF

The rats begin to squeak:

“(In a) beyond-severely adverse scenario, then it could be that some banks are undercapitalized and at that point policy makers might have to take further actions such as recapitalizing or restructuring banking systems,” Adrian said.

Helping countries in times of distress was “bread-and-butter” work for an institution like the IMF, he added.

Translation: the global economy is in full meltdown. Bread and butter, like bread and circuses, comes to an end one day.

Remarkable Analysis

30 Monday Mar 2020

Posted by perrinlovett in Legal/Political Columns, News and Notes

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banksters, economics, Federal Reserve, fiction, Todd Vispoli

Just moments ago, the babbling idiots on CNBC BRAGGED!!! about the multiplier effect, noting (correctly) that for every dollar in “public” loans from that hideous $2+ Trillion bailout, five to ten dollars in private bankster loans can be created. *Poof* Instant “money.” This sounds oddly like what Todd Vispoli tried to explain to the sheeple back on St. Paddy’s Day:

There used to be a ratio – nine to one or ten to one. For every dollar in public debt, they could technically manufacture another nine on the private side, though they didn’t always do it or have to. Now, that’s a thing of the past. There are, now, no reserves to manipulate. It’s all debt-based fakery and smoke, and now, they just print whenever and whatever they think will work. Or, that they think they can get away with.

They get away with a lot. And, people brag about it. So, two trillion could become ten to twenty trillion. Like magic.

Meanwhile, Orange Man is bigger than the Batchelor.

Welcome to Clown World, the pandemic edition.

The Banksters = The New Nazis

04 Tuesday Feb 2020

Posted by perrinlovett in Legal/Political Columns, Other Columns

≈ Comments Off on The Banksters = The New Nazis

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banksters, dark age, debt, debt cancellation, economics, Unz, Vox Day

Cancel them, or face a new dark age.

This article at once demonstrates the necessity of reading Vox Day and Ron Unz. No-one else continually comes up with the truth like this.

For thousands of years the leading tension of civilization has been over who is going to dominate and plan society’s economy. Will it be democratic governments or wise rulers seeking stability and military security? Or, will it be a financial oligarchy that wants to get rich by impoverishing the rest of society?

He’s correct. The ultimate and mathematically certain outcome of the current financial system is that the owners of the banks own literally all the property and all of the people. This is not a question of right-wing vs left-wing, and it’s very important to remember that banks are not capitalism, corporations are not human beings, and usury is not freedom.

Quite the opposite, as it happens.

As usual, there are commenters at Unz who can be relied upon to produce the retarded “conservative” attack on debt cancellation. Make no mistake, if at this point you still oppose debt cancellation on the grounds of “personal responsibility”, you are economically retarded, by which I mean, you are so stupid, so shortsighted, and so unable to do the very simple math involved that if I had the ability to do so, I would forbid you to read this blog.

If it’s selective then people who made responsible economic decisions will be forced to subsidize the self-indulgent and/or foolish economic decisions of others. 

The inexorable math of usury and the way in which credit shifts the demand curve upward dictates that however “responsible” your economic decisions are, sooner or later you will be forced to not only “subsidize the self-indulgent and/or foolish economic decisions of others”, you will be forced to make equally foolish decisions yourself. The fiscal conservative’s belief in “responsible debt” is no different than the Churchian’s belief in Judeochristianity, and it stems from exactly the same evil source.

“[B]anks are not capitalism, corporations are not human beings, and usury is not freedom.” Read the whole interview at Unz. This has been done repeatedly throughout history. It will be done again. It should be done now. And in keeping with the Nazi parallel, maybe Nuremberg the banksters too.

PS: Vox is dead right about the comments at Unz. Some can’t risk winning for their desire of continually defeat.

And the “Money” Just Flows…

05 Saturday Oct 2019

Posted by perrinlovett in Legal/Political Columns

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banksters, crime, economics, Federal Reserve, NY, sorcery

From the sorcery. More and more and more Fed funny money! For the banks, not you.

The New York Federal Reserve Bank said Friday it will continue to inject billions into the US financial plumbing on a daily basis through November 4, extending the operations by three weeks.

The effort, begun in mid-September, is aimed at preventing a spike in short-term interest rates, the New York Fed said in a statement.

Rates spiked last month as banks struggled to find the cash needed to meet reserve requirements, prompting the Fed to pump billions into US money markets.

It announced daily operations which were due to end October 10, but even then demand exceeded supply on some days.

In Friday’s announcement, the New York Fed said it will continue to offer up to $75 billion a day in repurchase agreements — exchanging secure assets for cash for very short periods — as well as 14-day “repo” operations twice a week of at least $35 billion each.

Economists say an array of conditions converged to dry up liquidity in the banking system — including quarterly corporate tax payments and a surge in government debt sold to investors, which drained cash out of banks.

Like I said the other week: The dog ate my liquidity, Mrs. Wall Street!

Seriously, this is serious. My calculator’s “zero” button broke. What are they shooting for? $3 Trillion? $4 Tr? 5??? The Moon? And, does this possibly have an end? Other than the inevitable, I mean.

Might have a TPC column lining up here.

About those “Capitalists”

22 Sunday Sep 2019

Posted by perrinlovett in News and Notes

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Tags

banksters, communism, economics

A funny truth from 108 years ago.

_20190922_135923

Robert Minor, St. Louis Post-Dispatch, 1911/See also: The Creature from Jekyll Island, Griffin.

More this coming week at TPC.

Swapping Fake Money for Fake Money

18 Wednesday Sep 2019

Posted by perrinlovett in News and Notes

≈ Comments Off on Swapping Fake Money for Fake Money

Tags

banksters, cash crisis, economics, Federal Reserve, sorcery

The NY Fed found a rabbit in its hat of tricks – more cash for the commercial banks.

The New York branch of the U.S. Federal Reserve added billions more in liquidity to gummed-up intrabank lending markets Wednesday, following the first intervention in more than a decade only yesterday, as a worrying spike in overnight borrowing costs continues to perplex investors and complicate today’s Fed rate decision.

The New York Fed offered $75 billion in cash to broader markets, in exchange for eligible collateral such as U.S. Treasury bonds or mortgage-backed securities, in order to hold the Fed’s key rate inside its target range of between 2% and 2.25%. It accepted its full allotment, even as bids totaled $80 billion, lowing the range from 2.6% to 3% prior to the operation to 2.25% to 2.6% immediately afterwards.

The New York Fed was forced yesterday to inject $53.2 billion after overnight borrowing costs surged close to 10%, thanks in part to the hefty burden of primary dealers in the Fed system taking down nearly $45 billion each day in gross U.S. Treasury bond issuance, and reducing spare cash — known as excess reserves — at the same time. In fact, excess reserves have fallen by $171 billion so far this year, according to Fed data, and are down $1.4 trillion from 2014 levels.

All in exchange for Fed-enabled Treasurys. A very sickly little rabbit, probably rabid. Today and yesterday… Have you even heard of this cash crisis? Surely this is nothing that negative rates can’t cure!

The Important Thing About Iraq

03 Monday Jun 2019

Posted by perrinlovett in Legal/Political Columns

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Tags

banksters, evil, Iraq, War

So much fretting about “war crimes.”

California Republican Rep. Duncan Hunter, defending a Navy SEAL accused of war crimes in Iraq, said his own unit “killed probably hundreds of civilians,” unintentionally, during his 2004 tour as a Marine field artillery officer in Fallujah, Iraq.

In an interview with Barstool Sports’ Zero Blog Thirty podcast, Hunter explained his support of Navy SEAL Special Operations Chief Edward Gallagher, who has been accused of war crimes and is being considered for pardon by President Trump.

“I was an artillery officer, and we fired hundreds of rounds into Fallujah, killed probably hundreds of civilians, if not scores, if not hundreds of civilians,” Hunter said. “Probably killed women and children, if there were any left in the city when we invaded. So do I get judged too?”

Yes, you should – if we did that. We don’t, so don’t worry or ask. The important thing about this (failed) war (and all others) is that the banksters really cleaned up! Also, our heroes saved America from being invaded by millions and millions of inassimilable foreigners. Thank you for your service!

Perfect

22 Monday Apr 2019

Posted by perrinlovett in Legal/Political Columns

≈ Comments Off on Perfect

Tags

banksters, crime, irony

It makes perfect sense that US banks are currently barred from hiring “small time” criminals. From the WSJ:

Small-Time Crimes a Dealbreaker for Banking Jobs

Banks want changes to law preventing them from hiring employees with certain criminal records

Over the past decade about 1,200 people with criminal records have asked the government to let them work at a bank—with more than 40% of requests rejected or unresolved. The banking industry wants to change that.

Under a 1950 law, banks are barred from hiring anyone convicted of a crime of dishonesty or breach of trust. The only way around the law is to get a waiver from the Federal Deposit Insurance Corp. Since 2008 it has approved around 57% of requests made by individuals petitioning on their own or with bank sponsorship, according to agency data.

Banks say the restriction is too tight, keeping them from hiring a more diverse pool of candidates. The ban covers felonies such as financial fraud, but also misdemeanor offenses that result in no prison time, including minor shoplifting and drug-possession convictions. There is no broad statute of limitations, meaning offenses from early adulthood can stop a candidate decades later.

Everyone knows the banksters are BIG time criminals. At any rate, at this late hour, they might as well allow the little guys in too.

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