Equity 1 Group
Pushing back the frontiers of economic ignorance and restoring sound financial foundations, one family at a time.

How can anyone trust these people?

SovereignMan  |  Simon Black

wells-fargo-scandal

What I’m about to tell you is a true story. Click link below to listen to podcast.

http://hwcdn.libsyn.com/p/0/6/3/063d05fa09473ead/071.m4a?c_id=13672613&expiration=1482604687&hwt=019d08314bc615fd1db89c7376ff34f6

And by the end of it, I hope it will be pretty clear that we’ve been programmed to put far, far too much trust in the banking system.

We’re told that banks are supposedly “risk free”.

And yet every scrap of publicly available evidence shows that banks take every opportunity to prove that they cannot be trusted with other people’s money.

They have been caught colluding to fix interest rates, exchange rates, and commodities prices to the detriment of their own customers.

They make insanely stupid bets with their depositors’ savings… and then when the bets go wrong, they go to the taxpayer with hat in hand claiming that they’re too important to go bust.

But most importantly, as my story will show you, they act with a sanctimonious sense of self-entitlement… that it’s no longer YOUR money in the bank. It’s their money.

And they’re going to do whatever they damn well please with it.

Advertisements

No Responses to “How can anyone trust these people?”

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: