KLEPTOCRACY: ACT ACCORDINGLY

Yesterday I went to the bank to pay for the purchase of hard assets in Europe.  The Chase Bank charged me 3 percent to transfer funds from US dollars to Swiss Francs.  THREE PERCENT.

A dealer in hard assets generally charges about 5 percent to procure an item for a client.  On a hundered thousand dollar item, you make $5000 for facilitating a transaction.  This facilitation requires weeks of ground work, negotiation, and years of study, accumulated experience and networking.

The bank takes 3/5 of that hard earned profit in a service that takes no expertise, no knowledge, and requires 5 minutes of work, done mostly by a computer.

How can they steal almost all your profit?  Because they have a monopoly on these transactions given to them by the government.

They steal because they can.  They steal because they believe it is good business to steal.

Of course, you can charge your client 8 percent to make up for the bank's unconscionable greed.  But that necessarily slows business and will ultimately wreck certain transactions.

And this is what our economy has come to.  Any transaction that the bank can destroy by taking as large a bite out of it as they possibly can, they will.  And then they will pat themselves on the back for being so sharp.

On a much large scale we see the banks destroying entire industries by jacking up the price of commodities like aluminum and copper by buying the warehouses and the shipping lines and manipulating supply and cost so that their own traders can bet on the direction of the costs they control.  In so doing they destroy the cost structure for hundreds of industries reliant on these commodities.  The costs are then passed on to tax payers.

The same holds true in so many areas of the world economy it would take a tome to list them all.  Look them up yourself.

The result is to destroy the  business activity they are supposed to be promoting.  The result is that 5 years into a 'recovery' from a crash caused entirely by unbridled bank greed, real GDP is still non existent. 

This is to say nothing of how they've turned the entire world paper financial market into a giant rigged casino.

And then there is ZERO INTEREST RATES which benefits the banks trading operations while stealing money from every tax paying saver.  And in Europe this has become NEGATIVE INTEREST RATES.  It will soon be the same here.

Meanwhile NOT ONE SINGLE MEDIA OUTLET WILL TOUCH THIS ISSUE.  Not NEWSCORP.  NOT COMCAST.  NOT VIACOM.  No - they spend all their time talking about Liberals and Conservatives  in a cynical infotainment side show.

I would like to point out that the job of the banking system is supposed to be  to EFFICIENTLY ALLOCATE CAPITAL.

It is now to STEAL CAPITAL.

ACT ACCORDINGLY.  Get you money out of bank controlled paper and into hard assets.