The following are 11 examples of just how insanely corrupt the U.S. financial system has become....
#1) An industry insider "whistle blower" has come forward with "smoking gun" evidence that major financial institutions have been openly and blatantly manipulating the price of gold and silver. But so far those who are supposed to be regulating these firms have been sitting back and doing nothing about it.
#2) It has also now come out that most "gold" that is traded on the markets is not backed by the actual metal itself. For years, most people have assumed that the London Bullion Market Association, the world's largest gold market, had actual gold to back up the massive "gold deposits" at the major LBMA banks. But that is not the truth at all. Industry insiders are now revealing that LBMA banks actually have approximately a hundred times more gold deposits than actual gold bullion. When most people think they are buying gold what they are actually buying is pieces of paper that say that they own gold. Meanwhile they are being charged huge storage fees to store the gold.
#3) The guy who helped bring down AIG is going to get off scott-free and will be able to keep the millions in profits that he made in the process. It must be nice to be him.
#4) Goldman Sachs is denying that it "bet against its clients" when it changed its position in the housing market in 2007. But the reality is that is exactly when they did and a lot of things that are even worse than that. The corruption at Goldman Sachs is very deep and very entrenched, but they will never be fully investigated because they have such close ties to the U.S. government.
#5) It is being alleged that the biggest banks in the United States are ripping off American cities with the same predatory deals that brought down the financial system of Greece. Of course the big banks will rip off just about anyone these days if they think they can get away with it.
#6) Several major Wall Street banks are being accused of using accounting techniques similar to those utilized by Lehman Brothers in its final days to mask the size of their balance sheets at the end of reporting periods.
#7) The Federal Reserve bought up the vast majority of U.S. government debt in 2009. Many analysts claim that this is the same as "printing money out of thin air", while others are openly calling it a Ponzi scheme.
#8) It turns out that the Federal Reserve holds credit-default swaps on the debt of Florida schools, and on debt owed by the states of California and Nevada. So the Federal Reserve would profit if one of those states defaulted on its debt. Talk about a conflict of interest.
#9) Executives at many of the firms that received large amounts of money during the Wall Street bailouts are being lavished with record bonuses as millions of other average Americans are suffering intensely. Even the CEOs of bailed-out regional banks are getting big raises.
#10) We may not know much about what is going on inside some of these banks, but they sure do know a lot about us. For example, it has been revealed that the data mining operations of the major credit card companies are becoming so sophisticated that they can actually predict how likely you are to get a divorce.
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