@@MonguzTea It is so pathetic. Why can't we just fix our laws to make it so that the fines are like 15% more than the profit gained by fraud to disincentives it?
@@samuelcohen6545 Because the same people also control mainstream media and mainstream has us panicking every 5 seconds to something or other. Feaful people are easier to control.
As a kid, you grow up thinking all these companies and people that run them, that dress and speak eloquently on tv, were the responsible individuals that earned their spots. But then you grow up and realize just how fucked up this world is. Now it's hard to take anyone seriously...
@@fairfeatherfiend 35% honestly feels like it'd be a good bet. I can totally see taking 100 randoms and MOST of the time at least 35 of them are truly logical, empathetic and not low-key morally bankrupt...
My family banked at Wells Fargo in the 90’s and we all noticed that at random times our accounts would just have an extra two or three thousand dollars. It would disappear and never show up in the bank statements. I have no idea what was going on but my dad waited until the extra money showed up on an ATM receipt. He went into the lobby and closed his accounts and walked away with an extra $4,100! That was about a months wages for him at the time. Nobody from the bank ever called or mentioned the extra money.
I was one if the victims of the, Wells Fargo multiple accounts scandal. The class action lawsuit paid me, 85 bucks lmao. There were so Many victims that even with the MASSIVE lawsuit settlement, only 85 bucks came my way ha
@@nexpro6118 We know the world is corrupt and broken because in cases like yours penalties should be nothing short of fining the bank right out of business. Nothing else is acceptable.
@@Jtzkb Nah man, it's the system we have to destroy, not the people. They only operate this way because the SYSTEM allows them to do so. focus on the cause of the evil. not the product of it
Just look at the Sacklers. The entire public knows what they did with OxyContin, yet they got off with no jail time and no meaningful loss of the wealth they built by ruining the lives of millions of people.
Don't trust the person selling you anything, that usually goes a long way. An example would be when I saw a tablet being sold without the seal and suffice to say it was broken. The same store had a vendor say the Xbox 360 was the same as the Xbox One.
@@user-dw1zb3fh5n I have nothing on that, but having a look at stock and forex charts, they drop and raise prices just right to mitigate previous crises, i.e controlled damage.
Ever heard of naked shorting? Wes Christian estimates that $100 trillion dollars has been taken by financial institutions over the last 20 years using this method. You've never heard of it because even the DTCC is in on it, and the SEC won't talk or do anything about it. It's kinda funny, but if you go to Gary Gensler's(the current head of the SEC) twitter he is always bombarded with questions about naked shorting XD. Never adresses it though.
@@haraldbryn8319 naked shorting was publicly realized when this Mac and game shit went down. Now investors are saying all the time NaKeD sHoRtInG when there risky investment goes down
Years ago I got a loan from Barclays bank (around £2000) and after filling the forms out the bank staff adviced me to get insurance for the loan. She told me that if I didn't get insurance and I couldn't pay back the loan the bank would force my family (parents and siblings) to be held liable for it. Bearing in mind I had been with Barclays over 15 years and I never took a loan before and I'd always worked. I'm an electrician in England. Years later Banks(including Barclays) were found guilty by the UK government of force selling insurance to people.
As a former Personal Banker to one of the banks mentioned here back in 2012-14, I can tell you without a doubt that branch managers were the worst ones at pushing the boundaries of what's legal when it comes to opening accounts, your salary, employment, and how you we're treated were tied up to those performance numbers, but let's be honest here all sales positions are judged by your numbers but even tellers were pushed to open credit cards, accounts, it wasn't just the bankers lol. You were graded all the time and we had a lot of people quit because of the aggressive management style, and the branch managers got more heat from their superiors, the entire thing came from the top as far as committing fraud, If you disagree then you we're let go because of performance... unless you quit which is what I ended up doing because it wasn't right.
Yeah, I reported it all to DOL, SEC, and eve FBI in detail in 2011. Even gave them the actual emails we lowest level workers got from the 20 layers of management showing how it was completely top-down and the employees had no choice. They simply called local cops, made up a threat, and had me hauled from my house to jail. Meet me in the SWAT car on this 3wcom: GoodShipGinsburg .or. RisePatriot
Does the bank actually profit from net/un/realized losses? Say, for example, you take a net loss & average down on a stock... The moment you make the loss real, does the bank get the profit? Sorry to be slighly off topic, but it's hard to get a legit answer for this.
ridiculous honestly. it frightens me how when businesses can turn so unbelievably evil when they get bigger. don't get me wrong, I seen plenty of shady shit from smaller companies (especially from owners who thought they were the shit while only making salaries of corpo junior managers pretending to be Bill gates) but when companies become public there comes a sense of anonymity and hiding behind a mask/role you fill in that company with the ONLY purpose of any company becoming profit maximisation. NOT the manufacture or provision of goods or services at the highest standard. I think this is a problem of anglo-saxon culture in general in the US, UK etc.
There's a reason that banks and other financial institutions only ever see fines and never jail time to the people at the top. The fines barely count as a punishment.
It's because they write the laws through lobbying man and they have made a two tiered justice system so white collar crime doesn't have really any punishment. Personally think exec and CEO should get life for fraud or death sentence depending on how bad.
Right, and no one should be feeding into this usurious monetary system. Don't pay your debts to the banks, if they come to take your stuff make sure you're armed. Use alternative currencies like Monero and local mutual credit/LETS. Once we go back to a sane world, we can sue them for everything they got.
This seems to happen every time a new financial product is approved. The financial institution create them to have one goal - for them to make money. The modern way to do that in our current regulatory framework is to create a new financial product that is so complex that the regulators and investors can't find the secret until the banks have made their money while they are protected because it was an "approved" product - and hence the fraud was "legal". This feels a lot like a casino that creates flashy games that look attractive but where the house always wins.
I agree It very much seems to me that most of these "financial products" are are nothing but glorified gambling. The whole financial industry is unecessarily overgrown, a lot of time, energy and brainpower is wasted on these "games". Imagine we would do something actually useful with all those money and knowledge wasted on speculation and financial manouvering, which amounts to nothing more than basically gambling.
Today is my first day coming across Coldfusion but it's addicting. These videos are so insane and to see the details of the companies, banks, scanners etc and how unethical and deceitful they are is just like WOW
“Give a man a gun and he can rob a Bank. Give a man a Bank and he can rob the world.” PS: I don’t know who said this quote originally. Feel free to comment if you know.
You should add context to the libor scandal. If Libor was not rigged the banks in the US would never have been too big to fail. It allowed the cover-up and overvaluation of banks that also commited massive mortgage fraud. 2008 would have been tiny if not for the libor scandal. It allowed banks to cook their own books
if ColdFusion is New Thinking, then what's the New Thinking for "HOW" Bill Cosby release from prison on a technicality for date rape crimes and overturning his sexual assault conviction doesn’t make him less a Monster? #DylanFarrow #RonanFarrow The US Justice System is FUCKED UP!
Sad that WF wasn't shut down after the first one. Anyone I know that has had accounts with them (including myself at one time) has had some problems with them. They screwed my parents out of their house by cashing mortgage payments and then claiming they never received them. Did that for over two years and my parents ended up losing their house because they couldn't get anyone to help them fight WF in court over it.
Go look at a $1 bill, it is used for nothing but debt so yes your 100% correct. Money is nothing but a note that says it is literally worth nothing but debt and best part is when money is "issued" or created there is always interest. If we paid back our debt with every dollar in existence, we would be no where near paying it off, because of interest.
When the bank pays a fine for fraud I assume that money doesn't go to the people who were actually defrauded. Does anyone know what happens to that money?
Sometimes the courts earmark a portion of the settlement to help those who have been harmed. The state of Virginia diverted 2 such awards that I know of to totally different uses.
Great video, I really like these new videos you're coming out with, since these stuff are things every concerned citizen should know. "They were were caught doing fraud and fined hundreds of millions of dollars. That's just the cost of doing business." Great line there, really sums up the limitless greed these people have
Worse, it's still being done...and touted on crypto and far right platforms as a 'means to secure your future' ... fear selling while at the same time robbing us blind using the very thing they want us to believe will protect us.
To be fair, he may be referencing the financially settled gold and silver futures and not the physically deliverable gold and silver futures. I understand that he said "take physical delivery", but I am not sure if he realizes there are 2 different contract types. The financially settled one will clearly deviate, like most products that claim to track 1 to 1 with an underlying asset that are not directly backed by that asset 1 to 1.
This has been the case with gold ever since the Dutch invented fractional reserve banking in the 1500s. Outside of brief periods in time when gold rushes made the gold standard real, there has never been enough gold to settle contracts for gold since
Unless the bank as an institution is liquidated and bankers spend life in prison nothing will stop these thieves. I dont see that happening so unlikely to see something stopping these fraudsters.
It’s gotten to the point where you just need to jail them, and take everything from them. Houses, cars, 401k, portfolios… everything. If we can jail people for multiple life sentences for murder, we should be able to do the same for huge financial crimes that will impoverish and drive innocent people to suicide.
Wells Fargo self inflected fraud was a tragic. Additionally besides fake account fraud, they had a series of other issues related to regulatory compliance, overcharges, car loan insurance, etc. It seems like every EVP had an incentive to force their area of responsibility to cheat.
wells fargo is evil. thats pretty much the bottom line. they arent respectable, they just pretended to be. they didnt put their reputation at risk, they just showed their true colors at the expense of the reputation average citizens chose to believe. when you follow these companies closely, you can see the scams more easily. like how jp manipulated gold for years. we arent really sad about it, its just a thing that exists.
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning" - Henry Ford The only reason bankers haven't all been rounded up and decapitated is because people have zero clue how it all works lol
Doesn't help that much of modern society has been fooled for decades in the guise of bullshit dogma, meaningless jingles like "free markets" or "deregulation" or "cut the red tape". Firstly, free market is as meaningless as saying go north of the north pole. Markets are neither free nor not free. Markets are the exchange of things upon agreed rules. All the mantra of free markets and deregulation and cut the red tape means is 1) Free markets: give up our participation in the making of the agreed upon rules. 2) Deregulation: give up your participation in the planning economic activity that would most benefit you and your fellow citizens. 3) Cut the red tape: Don't verify that we're fucking you in the ass after you've given up what little power in democracy you had. People bought into those narratives. From fat fuck Rush now bloated corpse of probably reeking to the consistency of Limburger cheese Limbaugh. And other dogma promoters of the robber baron elites like the phony Milton Friedman who tainted his bullshit article that won him the In memory of Alfred Nobel Prize in Economics. To the rantings of a lunatic Ayn Rand. They ate up the bullshit with mouth gaping. And now complain the filth in their mouth is making them sick. Propaganda is a horrible thing. If only people kept themselves skeptical and always learning. Perhaps such dogmas wouldn't fester and putrefy. Now the same actors of the elites are again using time tested since antiquity of race, religion, and immigration to pit the masses against each other. "That turd salad that stinks in your mouth, it would taste more like mash potatoes and gravy if that purple guy over there wasn't giving you the wanna cuddle and snuggle wink! Beat his ass! And that turd will taste like raspberries, I promise!"
Our “JUSTICE SYSTEMS” are also “CORRUPT” !!! We are all under the “CORRUPT SYSTEMS” that they built from top to the bottom. We are all in slaves by these corrupt systems. ☠️☠️☠️
Or smoking weed to take the edge off of the 24/7 anxiety of living pychek to paycheck. Sometimes even more than anxiety… I always find it so depressing when I think abt the people who were jailed for smoking weed to keep suicidal thoughts manageable.
@@nicksmith6629 no I've always been interested in how banking and finance works helping investors and normal clients make a profit, it's about being accountable with others finances and ensuring that customers are in a secure financial position. as an individual I cannot take down the large corporations who choose to dive into these corrupt practices.
I'm at a point where I don't know anymore if I'm binging this type of content because I want to understand the world or because I like how the growing hopelessness hurts my soul
Lets be real, the reason why the SEC is taking so long is because the ppl on the boards might have a buddy or two involved in these practices and don't wanna pull the trigger so fast. They'll keep playing these games if we don't start making it public discourse. #WallStreetBets
That's certainly one way to look at it, although I'd be careful with flying those flags so soon into the investigation. I'd say its more likely they look at these cases the same way as they initially looked at Bernie Madoff until his Ponzi scheme fell apart. Initially nobody wanted to believe that Bernie was committing vast frauds. Not even when a guy singlehandedly uncovered it and attempted to get it stopped. It is not uncommon for the financial world to doubt whistleblowers as is evident in every single fraud or pyramid scheme ever exposed. The amount of trust required to make the financial sector run smoothly is probably the core reason as to why so many executives really don't want to believe a whistleblower as such an exposure also speaks volumes of their own abilities in placing trusts in specific individuals and institutions, which over time easily can lead to paranoia, which also damages the economy.
It is truly astounding to me that these banks have grown so large, powerful, and beyond the control of any regulators and international governments. Even if they could be handed substantial penalties for their parasitic and dangerous actions, the ripple effects of such massive banks being truly taken to task would financially ruin normal people the world over.
I'm from Iceland. Lost everything when I was a kid. I wouldn't trust any bank for any reason. The only difference between the people in charge of the banks and criminals on the street is that the banks are untouchable and you won't find proper justice if they screw you over.
Where on the contracts of the ETN and ETF are the little devils on the details, that people didn't read? Why nobody read contracts, or the issuers are so shady than omit on purpouse mentioning what are the traps on this OTC contracts or products
Big props for the whistleblowr banker, it seems not all of the wall streets are "banksters" hiding in a shell of a "banker" supposed and expected to work in the boundaries of law. I'm afraid that he's "burnt" on wall street, by which i mean the chance of getting a job in any of the companies who're hiring people to do their dirty biddings. Luckly it's not over completely, even if he can't find a job there i bet that he could find some investors willing to trust him their money, so he could not only continue trading on stock market but also "show a middle finger" to the crooked banks which are surely going to make his job looking there a real hell. Back to the point, great job mate for reporting this type of scumbaggery to the authorities, i just wish that the initial outcome (rejection of accusations) would went better, but this just is now a perfect and solid argument for insinuating collusion between banks and federal financial institutions. My entire comment is only valid if your math on the job and research is 100% solid. I think it should be because otherwise you wouldn't want to make a fool of yourself if the conclusion was somehow not correct, but i don't see any reason that you'd risk your carrer and image with a made up story. I'll keep my thumbs up for you and your whistleblower case success since this type of almost systemic unjustice towards normal, typical people by some money hungry banksters. Cheers and best wishes from Poland
7:27 "The fines offered were nothing compared to the money that they made" This right here is the most concerning fraud in my opinion. Furthering moral hazard in our financial systems even more as powerful institutions know they face no real consequences for their actions
The politicians in both parties and media on both sides work on behalf of those institutions. They will never have real accountability. The system is designed this way intentionally. They are so successful at this, they were even able to convince some of the poorest Americans to vote for a multi-billionaire who is best friends with all of these bankers, and have them believe he was all about the "little guy."
Same thing happens in biotech, health insurance, or all insurance, and actually basically almost all businesses. As long as fines are less than profits, why should execs care abt breaking the law?
We, in India, have few banks that have been doing a lot of unethical practices, and since decades, these have resulted in major 'scams', that are well documented, but still these banks thrive and are supposed to be the most reliable options.
There's a reason old timers distrusted the lovers of usury and their buildings. This is why banks invested so much on social engineering and brainwashing society into thinking "your money belongs at the bank". Do bankers keep their money in the bank though? Lolno. Invest in real estate, find government-approved scams to apply, and only purchase assets instead of liabilities.
I've been watching your channel since the beginning (about 7 years I think - yeah, when the T in the name was present). You've always had quality content, but the production has improved so much over these last few years!
How punished? By way of fines paid to the gov (BTW, which is in debt to the banks or other countries) or holding an individual(s) responsible and people serve pri-son time? The corporation will pass the cost to the consumer so the average public pays for their fraud no matter what. How much debt does the public/businesses owe to these banks? I am supposing a lot more with much higher inflation.
Banks: commits fraud Government:finds out Banks:shares profit as "punishment" Government:ok you're good to go. If you're gonna commit a crime. You better make enough to share with the government.
But Blockchain is also an system that works like everybody puts some money in one pod and who gets faster the money out wins some money. And the other will loose in the end.
That simplified example of leveraged and inverse ETNs does include a possibility (albeit an unlikely one) where the house would lose money: If the first two tosses were heads or the first two were tails, then after the second toss, one player would have $2250, the other would have $250, and the house would have -$500. Similarly, if the first five tosses have four heads and one tail, or four tails and one head, then one player would have $2531.25, the other would have $93.75, and the house would have -$625 (five heads or five tails in a row would be worse for the house, with $7593.75 for one player, $31.25 for the other, and the house at -$5625). With that said, as the number of coin-tosses approaches infinity, the proportion of patterns that result in a loss for the house approaches 0, and this is ultimately because 1.5*0.5
This may seem like a dumb question? When these banks, corps, ceo's are "Fined" millions, Where does that $ go? Who benifits? What's the point? The information in these videos is awesome great job. Thank you for your time, effort & generosity sharing this valuable gift to society.
You need to wake up. The Matrix movie wasn't about being asleep in some virtual reality machine, it was about how everyone is asleep and goes along with everything the system does and never question it.
@@futavadumnezo No Shit my friend. The matrix is a "movie" it is entertaining but it isn't fuckin real pal we dont live in a simulation we live in a hijacked reality! I was merely pointing out that any money in fines disappears
@@cdreid9999 That is the text book answer. What do they do with the millions/billions they receive? It surely doesn't benefit the people that are paying their salaries (agencies)or that have been victims of criminal or irresponsible acts? Whose General Fund? Really? C'mon! The question asked was intended for others to think🤔 I know exactly wtf goes on. Thanks for your time though.
Most of the Banking is just a way to take money off the working class and give it to the wealthy and they will constantly invent new ways to defraud the working people of the world. Instead of waiting and asking the Government nicely to step in and hold them to account (and give them a fine of less than 1% of what they made), we should start hanging them in front of Wall Street. These people are leeches on society and it's time to remove them.
If you think this is bad wait until you see the sht that they pulled which caused '08 crisis, watch the documentary "Inside job" it'll give you an excellent insight into how fuked up the system really is
@@sympathiser_of_Germans_in_40s Yeah. What was it again? I recall: banks? gave mortgages to people eg with no job, then all these bad mortgages got mixed in with good mortgages, then the credit rating agencies gave everything a triple A rating so that the debt could be sold as "AAA super reliable" & every1 got bonuses. So a huge mountain of toxic mortgages built up; then every1 realised the economy was a FING house of cards so the economy melted; many went bankrupt & had to sell their homes. Then the rich bought many houses cheaply
Thank you for covering this topic. This is absolutely the largest unmonitored and unregulated gambling industry in the world, and this is coming from someone who has worked in finance before. I want more of this, Cold Fusion man! 👍🏻👍🏻🌈🌈💯💯
It's so sad to say...with all those who are whistleblowering...the amount of need for greed by the financial system and banks will shift from one practice to another...greed has no moral obligation but to themselves
1) DON'T short sell an ETN simply because it is guaranteed to go down in the long term. If you short the ** out of it like the guy mentioned, you WILL GET WIPED OUT during a spike, which happens every once in a while. Leveraged ETNs like TVIX are notorious for wiping out short sellers. 2) Future contracts trading hundreds of times the volume of the underlying commodity is perfectly normal. "If everybody demanded delivery" situation applies without using future contracts too, when everybody goes to the spot market and buys that much physical gold right now. Instead, they just speculate on the price using those contracts. So having future contracts doesn't actually change the dynamics.
Liked the video because you actually had the link in the description like you said, so many youtubers just say that because it sounds nice and like “ohh yay hes giving credit” but do not actually do it, so thank you for actually putting the link in the description to your sources
that's not really an adage - there's little truth in it. It's just that if you don't try, you will most likely never succeed. But I can want 1+1 to be 3 all day. There is now way. Similarly, we can't all be rich. Even if we are willing to be wealthy. I never liked the proverb, it's empty and just there to give hope to failures. Some people need that. But most people need some realism...
That's the video is meant to scare by purposefully deceiving. Even the maths here are wrong. Disappointed in this channel that had among the best videos I've seen.
It is not because it is and isn't illegal.. it is because consumers are now in the same level as institutions. And with fintech and robo tech investments and wealth app investments.... Nobody is advising or controlling those...
It is not because it is and isn't illegal.. it is because consumers are now in the same level as institutions. And with fintech and robo tech investments and wealth app investments.... Nobody is advising or controlling those... My guess is that, some banks in certain countries could do this and it was as designed. But with so many banks in a crisis. Some of the mergers didn't go correctly.. and this is possibly a new level of risk which nobody literally patched. A systemic error occurred due to say mis management.
I wasn't a victim of the Wells Fargo scam, but I've been planning to leave them ever since due to the principle of the matter. It's finally happening in a few weeks now that I've opened a credit union account.
The more I learn about finance and banking, especially investment banking, the more it looks like gambling with additional steps and middlemen. No regulator will ever admit that they have failed in their task, because then they will face pressure from the government, and possible dismissal.
@@waiguoren IMHO ever since QE went into maximum overdrive, regular securities have had roughly similar credibility as cryptos when it comes to valuation and economic utility. It's all paper growth, with the downside that our pensions rely on it.
You can thank Obama listening to Tim Geithner for that lack of justice and foresight. Though probably any president would've done the same to protect his donors before re-election.
Why break them up at all? They should have just let them all fail, along with automakers and all the other big corporations that got insane amounts of welfare.
@Sherri T[A]P Me!! To Have [S]EX With Me That's exactly what is happening. They just keep kicking the can down the road as long as they have a good story they can sell the mindless citizens to justify it.
it’s a crazy and amazing thought same time hw a lot of u guyz pull through all this in the world of investments. When stocks n coin at a time Inflate and deflate without notice, lol for me I would have had a cardiac arrest longtim😂
If you ever need an experienced tradr that will show accurate TA then I will sugjest TE LE GRAM > [ Jjdonna ] . I trade on a better exchange with lesser fees, happy to say I’m able to do that with her.
When you see enough of these it eventually dawns on you that it’s impossible to get beyond a certain degree of size, profitability, or power without committing some type of fraud, deceit, illegality, or otherwise shady practice.
The mistake that the two articles made reporting on this before is that they explained this in very technical terms so nobody really cared. You on the other hand got the title right and you do your best to explain it in human understandable terms.
Dude, you missed out British tax havens (which is also dubbed as 'Britain's Second Empire'. Also the fact that the City of London is a separate legal jurisdiction, where corporations take part in mayoral elections. Missed the murkier stuff mate
I dunno but I don't think City of London is a separate legal jurisdiction from the UK. But you could argue that because the rich are rather above the law (eg fines are less than fraudulent profits) there is a shadow jurisdiction for the rich, many of whom work in the City of London. Apparently big fraud cases tend to be very difficult to prosecute as they are very complicated & the jury has to take like 6 months away from their job to study all the evidence. I saw a video about the black cab rapist; in it a lawyer said "Complexity is the enemy of the prosecution."
Lol corporations vote because only 37,000 people live in the city of London, despite the fact that millions commute in every day. Nominated workers get to vote in elections because the commuter population is so large and so influential on its economy. The company you work for can’t tell you how to vote either, and you don’t have to be an executive to get a vote. Source: manager used to vote in the City of London elections
@@OfficialGoldenboy that's ridiculous lol just American and westerners pretending animals have complex emotions because thet society is perverted and sick
@@muslimamerican4129 Why? Asian (including middle eastern, south Asian and China and most east Asian countries), African, South American countries are just as fucked up.
I used to wish I had the superpower of being able to read minds. Since Facebook and RUclips I no longer wish for that. The average mind is not worth reading.
Man i love your videos, it's great to see your keep doing it. Your made a lot of progress. I love watching your reports and exquisite editing. Keep it up
Always bank with credit unions. You are a member not a customer. (Share holders don’t run them) Always invest with vanguard. Unlike the others, vanguard is owned by its investors not stock holders.
2:47 "it focused on the intense pressure on bank managers and individual bankers to produce ever-increasing sales and even mathematically impossible quotas" - it requires a pretty high level of evilness to target your own employees in such a way to practically force them to fraud.
That basically makes the justice system and accomplice. Why would we ask and accomplice to help solve a problem that the participate in. Reminds me of the fox and the chicken coop. We are the chickens the fox is the regulator. What is needed is a free market mechanism sort these concepts before they reach rod public acceptance. Though I can't identify the specific technology to do this I'm confident it already exists. Paul
@@gradeyundery4939 There is a free market it's simply latent or dormant it exists no matter what the problem is the free market is not being utilized. Think of the millions of transactions every day which take place from the simplest to the largest without any nefarious purpose and that fill the daily needs and requirements of most of us. There are some bad actors out there unfortunately some of them are very large and in fact many people. The technology is coming though where we can avoid this kind of thing be patient keep a good attitude you'll see Paul
I know there's tons of overhype around blockchain tech and crypto, but developers (not speculators) in this space are working towards what you're describing, among other things. Check out Cardano, which the founder describes as a financial operating system, one that allows distributed control, and cuts out the need for a trusted intermediary.
@@gradeyundery4939 This is the "free market". Deregulate! Government Bad! Was bullshit. It essentially created a power vacuum so that these blood sucking bankers can scam people, and parasitical monopolists can squeeze wages to the point of non-gainful employment. There is no such thing as a free market. It's as dumb as telling someone to go north of the north pole. Markets are neither free or not free. Markets are simply the manner in which people exchange something under agreed upon rules. "Free markets" or "deregulation" etc. just means to take away your participation in making of those agreed upon rules... with both hands. And giving it completely to the bankers and financial elites in this case. But it goes to all powerful rich elites. They want us all price takers. And they'll make the rules...aka market makers. And we must shut up. End of any democracy in shaping the agreed upon rules upon which the markets will function. Take that tired dogma of "Free market" mantra and burn it. It's an obvious toilet buzz word propaganda to get dip shits hot and bothered and agreeing to neuter themselves. To be a useful idiot to further exploit an entire people.
There is indeed such thing as being above the law, you just need to have enough money. That's it, it doesn't take anything else. With enough money you can get away with ANYTHING in this world, even craft the very laws to your desires. Don't fool yourself thinking otherwise. And people dare questioning why we desperately need bitcoin. The big banks and governments don't like crypto because then they can't continue doing all this disgusting practices.
Bitcoin is extremely flawed, do not talk about things you do not understand, crypto has its merits yes, but always remember who who holds the reins of power, to break your bitcoin fantasia, over 60% of mining is done in china and the whole consensus system the blockchain relies on can be broken down if you own 50%+1 of the whole network so if china really wants to they can say that bitcoin can be worth whatever they wish or you know maybe they can just say fk it bitcoin is ilegal, which is something most governments can do. Bitcoin is still fiat currency, it is still based on trust and the anonymity it so promise is also gone as in many places you cannot even buy bitcoin without your ID so yeah, no.
@@islar7832 Crypto tech is evolving rapidly. Decentrialised exchanges and POS technology will deliver the financial freedom we are all hoping. Buy Ether... it's going to replace BITCOIN.
@@matthewfox1561 you don't know what you are talking about. Fiat is not backed. Bitcoin is backed by it's own design. You can not "mine" more than is allowed by design. Thus inflation becomes IMPOSSIBLE. Sure some sick bankster can buy up a lot of Bitcoin and crash sell it. But the amount of Bitcoin in existence will never be some surprise or manipulated by a central bank.
I've done ETN Market Making for Nordea (Finnish Investment Bank). I don't know about the institutions mentioned here but at Nordea structured products are hedged, so the profit is the spread, fee and interest. No profit is made on directional moves (that would be stupid, considering some minifutures extend up to 50x leverage to the counterparty)
The fact that the gold futures volume is much larger than the existing gold is not a problem. It is cash settled, i.e. you bet on the price of gold with a counterparty, but no real gold is ever received, you rather receive the gold spot price at contract expiry
Unless there's a massive global economic downturn, or hyperinflation or some other disaster where people want to start collecting their gold because FIAT is useless. Seems like it'd be a run and would exasperate the problem by making the collapse of FIAT near instantaneous.
Coldfusion videos are some of the best videos on youtube, I don't have to even recognize the title to know I am going to enjoy the video, ColdFusion rocks!!
Still baffles me how an institution benefits in billions/trillions from fraud but just gets a small fine in millions.... Shouldn't they be fined in excess of the estimated gain from that fraudulent activity?
By taking that integral part and ripping its tentacles from every agency tgey infest in Government. As well as publicly or privately traded entity. A cancer humanity deals with over and over. Perhaps as a pedophile cannot operate a day care.....Thieves should not control the worlds currency and assets. Everything that has transpired has been illegal. Banks pose a greater threat than standing armies. Thomas Jefferson. This is nothing new yet able to infiltrate positions of power historical context is not passed on as banks destabilize Nations by manipulation of markets during tragedy and war. Financing both sides! Known to the bankers as the Babylonian money magic system.
Future contract of gold do not necessarily give you rights to own a piece of gold, in fact, most don't. Rather, it is a contract between you and your issuer, that this piece of contract is worth as much as a piece of gold. This let traders trade and speculate gold without physically owning a piece of gold. Therefore, value of a future contract of gold do not lay in the fact that it can be exchange with a gold, but that it can be traded as much as a piece of gold. So it is a misconception that everyone is going to rush to the bank with the piece of contract to get their gold out. If traders dump their gold contract, what happen is the price of gold goes down, not that we ran out of gold.
8:32 Isn't that the same with all futures contracts? Oil, pork bellies, etc.? I was taught that the contracts are just to mitigate risk and actual deliveries are unusual.
These ETNs sound great, how do I short them? No wonder prices of vintage watches and high-grade collectible action figures have quadrupled over the last year. All I can say - good luck to those who recently became new house owners...
![How to Lie Your Way to $34 Billion [Nikola Motors Fraud]](http://i.ytimg.com/vi/88fWUZhYb04/mqdefault.jpg)
"The fines were nothing compared to the money they made"
How surprising.
Its an actual business strategy. All banks do it.
Just a cost of doing business. As long as it's profitable it's a good business.
@@MonguzTea It is so pathetic. Why can't we just fix our laws to make it so that the fines are like 15% more than the profit gained by fraud to disincentives it?
@@samuelcohen6545 The Laws are made by Banks... They Sit on both sides of Table
@@samuelcohen6545 Because the same people also control mainstream media and mainstream has us panicking every 5 seconds to something or other. Feaful people are easier to control.
As a kid, you grow up thinking all these companies and people that run them, that dress and speak eloquently on tv, were the responsible individuals that earned their spots. But then you grow up and realize just how fucked up this world is. Now it's hard to take anyone seriously...
Yeah, you are right. I started reading news about politics recently. So, my opinion now is most politicians are dumb or at least not smart at all.
@@brucelee1048 It is well known that "good" politians try to do good but at the end they are mengeld into the system.
@@brucelee1048 QUEEN THIEF
35% of people are still good, according to the movie " Experimenter".
@@fairfeatherfiend 35% honestly feels like it'd be a good bet. I can totally see taking 100 randoms and MOST of the time at least 35 of them are truly logical, empathetic and not low-key morally bankrupt...
My family banked at Wells Fargo in the 90’s and we all noticed that at random times our accounts would just have an extra two or three thousand dollars. It would disappear and never show up in the bank statements. I have no idea what was going on but my dad waited until the extra money showed up on an ATM receipt. He went into the lobby and closed his accounts and walked away with an extra $4,100! That was about a months wages for him at the time. Nobody from the bank ever called or mentioned the extra money.
🤣
These days they will come after you.
@@dapple33 In this case it would have cost them more in legal fees to recoup.
I was one if the victims of the, Wells Fargo multiple accounts scandal. The class action lawsuit paid me, 85 bucks lmao. There were so Many victims that even with the MASSIVE lawsuit settlement, only 85 bucks came my way ha
@@nexpro6118 We know the world is corrupt and broken because in cases like yours penalties should be nothing short of fining the bank right out of business. Nothing else is acceptable.
"The fines were nothing compared to what they made" - At that point it's effectively just another tax on doing "business".
All by design.
Pretty sure fines are costed by most big corporations when the profits are worth the risk.
@@Jtzkb Bit extreme isn't it. Simply changing fines to be 50% of all profit should be more than enough.
@@Jtzkb Nah man, it's the system we have to destroy, not the people. They only operate this way because the SYSTEM allows them to do so.
focus on the cause of the evil. not the product of it
@@Jtzkb Eat the banks! Eat the Banks!
"Justice will be served over time..." That's the most hopelessly optimistic thing I heard all year. Still if I'm wrong, that will be great!
Dam that's how our legal system is based on 😭🤔
😢
Justice delayed is justice denied.
Just look at the Sacklers. The entire public knows what they did with OxyContin, yet they got off with no jail time and no meaningful loss of the wealth they built by ruining the lives of millions of people.
Justice... there's a reason she's blindfolded.
@@TheGbelcher It's the Just Us system.
My mom told me back in the late 90s' ; "It's easier to steal $1 from a million people than it is to steal $1 million dollars from 1 person.."
I wish I was a bankster & also work in investment banking for a bottomless wallet... #TDBank🌎💘💰
As someone from Iceland, don't ever trust your bank, and never ever, absolutely never trust anything someone who works for the bank tells you.
that is my approach, I never trusted them.
Anyone who has watched 'Inside Job' knows what these banks did to Iceland. Imagine ruining a country's economic system for your personal benefit.
The only contry in the world doing the right thing after the krash.
Just a shame you fell for the CV scam and got most vaxinated
They are not your banker....they are the banks banker....thsts why their job title has the word BANK in it 😂😂😂
Don't trust the person selling you anything, that usually goes a long way.
An example would be when I saw a tablet being sold without the seal and suffice to say it was broken. The same store had a vendor say the Xbox 360 was the same as the Xbox One.
What's amazing is that they probably got away with way worse nobody knows about
@@user-dw1zb3fh5n have a source on this to learn morep
@@user-dw1zb3fh5n I have nothing on that, but having a look at stock and forex charts, they drop and raise prices just right to mitigate previous crises, i.e controlled damage.
Ever heard of naked shorting? Wes Christian estimates that $100 trillion dollars has been taken by financial institutions over the last 20 years using this method. You've never heard of it because even the DTCC is in on it, and the SEC won't talk or do anything about it. It's kinda funny, but if you go to Gary Gensler's(the current head of the SEC) twitter he is always bombarded with questions about naked shorting XD. Never adresses it though.
@@haraldbryn8319 naked shorting was publicly realized when this Mac and game shit went down. Now investors are saying all the time NaKeD sHoRtInG when there risky investment goes down
@@yfiebach6348 When was it publically realized? What have the SEC done about the issue? If you have a source, I'd really like to know.
Years ago I got a loan from Barclays bank (around £2000) and after filling the forms out the bank staff adviced me to get insurance for the loan. She told me that if I didn't get insurance and I couldn't pay back the loan the bank would force my family (parents and siblings) to be held liable for it. Bearing in mind I had been with Barclays over 15 years and I never took a loan before and I'd always worked. I'm an electrician in England. Years later Banks(including Barclays) were found guilty by the UK government of force selling insurance to people.
Modern economics turned into the world's best casino where the banks are the house and we are the players.
Without the free drinks for us to keep playing…
@@slakkes-slak They both rely on people thinking they can beat the odds, while the house makes money on all bets.
As a former Personal Banker to one of the banks mentioned here back in 2012-14, I can tell you without a doubt that branch managers were the worst ones at pushing the boundaries of what's legal when it comes to opening accounts, your salary, employment, and how you we're treated were tied up to those performance numbers, but let's be honest here all sales positions are judged by your numbers but even tellers were pushed to open credit cards, accounts, it wasn't just the bankers lol. You were graded all the time and we had a lot of people quit because of the aggressive management style, and the branch managers got more heat from their superiors, the entire thing came from the top as far as committing fraud, If you disagree then you we're let go because of performance... unless you quit which is what I ended up doing because it wasn't right.
What is a personal banker exactly?
Yeah, I reported it all to DOL, SEC, and eve FBI in detail in 2011. Even gave them the actual emails we lowest level workers got from the 20 layers of management showing how it was completely top-down and the employees had no choice. They simply called local cops, made up a threat, and had me hauled from my house to jail. Meet me in the SWAT car on this 3wcom: GoodShipGinsburg .or. RisePatriot
Does the bank actually profit from net/un/realized losses? Say, for example, you take a net loss & average down on a stock... The moment you make the loss real, does the bank get the profit? Sorry to be slighly off topic, but it's hard to get a legit answer for this.
@@jeffshackleford3152 glorified sales man
ridiculous honestly. it frightens me how when businesses can turn so unbelievably evil when they get bigger. don't get me wrong, I seen plenty of shady shit from smaller companies (especially from owners who thought they were the shit while only making salaries of corpo junior managers pretending to be Bill gates) but when companies become public there comes a sense of anonymity and hiding behind a mask/role you fill in that company with the ONLY purpose of any company becoming profit maximisation. NOT the manufacture or provision of goods or services at the highest standard. I think this is a problem of anglo-saxon culture in general in the US, UK etc.
There's a reason that banks and other financial institutions only ever see fines and never jail time to the people at the top. The fines barely count as a punishment.
It's because they write the laws through lobbying man and they have made a two tiered justice system so white collar crime doesn't have really any punishment. Personally think exec and CEO should get life for fraud or death sentence depending on how bad.
@@firesideshats Stop looking for someone to blame.
Don't let people get away with shit. But get back at them by being smarter. Not spiteful.
It’s just a cost of doing business. If I could make $100 by paying a $10 fine each time, why would I stop? Sounds like a good deal to me
@@taramaforhaikido7272 how do you propose we do that?
Right, and no one should be feeding into this usurious monetary system.
Don't pay your debts to the banks, if they come to take your stuff make sure you're armed. Use alternative currencies like Monero and local mutual credit/LETS. Once we go back to a sane world, we can sue them for everything they got.
When you have money, you can get away with a lot.
Yep to an extent
Indeed, there is such thing as being above the law, if you have enough money.
Just ask bill gates
When your buddies work at the white house, making money is that easy
A LOT!
This seems to happen every time a new financial product is approved. The financial institution create them to have one goal - for them to make money. The modern way to do that in our current regulatory framework is to create a new financial product that is so complex that the regulators and investors can't find the secret until the banks have made their money while they are protected because it was an "approved" product - and hence the fraud was "legal". This feels a lot like a casino that creates flashy games that look attractive but where the house always wins.
True wisdom is always found in the comments section.
Managers create wealth, laborers generate wealth
I agree It very much seems to me that most of these "financial products" are are nothing but glorified gambling. The whole financial industry is unecessarily overgrown, a lot of time, energy and brainpower is wasted on these "games". Imagine we would do something actually useful with all those money and knowledge wasted on speculation and financial manouvering, which amounts to nothing more than basically gambling.
Behind every great fortune lies a great crime.
-- Honore de Balzac ·
so basically all casino games
Today is my first day coming across Coldfusion but it's addicting. These videos are so insane and to see the details of the companies, banks, scanners etc and how unethical and deceitful they are is just like WOW
Yeah I discovered it a few months back & I think its interesting & easier to understand than some channels.
When you control all the money, you can do whatever you want.
“Give a man a gun and he can rob a Bank. Give a man a Bank and he can rob the world.”
PS: I don’t know who said this quote originally. Feel free to comment if you know.
According to the internet many people have said something along those lines. But apparently Bill Maher said it on his show once as well. Who knows
Give man a woman and he will make kids out of her
This quote reminds me of rockefeller
@@Assassin_Droid Oh thats ANTI SEMETIC!!!
That quote from netflix series called Mr Robot
You should add context to the libor scandal. If Libor was not rigged the banks in the US would never have been too big to fail. It allowed the cover-up and overvaluation of banks that also commited massive mortgage fraud. 2008 would have been tiny if not for the libor scandal. It allowed banks to cook their own books
No more LIBOR in about 4 month from now (except USD).
Holy cow.. one of my dads friends went to jail for this
if ColdFusion is New Thinking, then what's the New Thinking for "HOW" Bill Cosby release from prison on a technicality for date rape crimes and overturning his sexual assault conviction doesn’t make him less a Monster? #DylanFarrow #RonanFarrow The US Justice System is FUCKED UP!
@@raystiles9506 Voting: "The illusion of choice." - George Carlin -> The US Justice Department: "The illusion of justice." - Uncle Kenta
It was done by a dude called Stephen Hayes.
Sad that WF wasn't shut down after the first one. Anyone I know that has had accounts with them (including myself at one time) has had some problems with them. They screwed my parents out of their house by cashing mortgage payments and then claiming they never received them. Did that for over two years and my parents ended up losing their house because they couldn't get anyone to help them fight WF in court over it.
I wish I was a bankster & also work in investment banking for a bottomless wallet... #TDBank🌎💘💰
Sometimes I feel that the entire world economy is built on the idea of infinitely delaying the payment of bills.
in the end the combined time everyone have is finite. So in reality it's a wealth or time distribution of everyones time to a few benefitters.
Absolutely. Look at climate change.
were living on borrowed time.
Go look at a $1 bill, it is used for nothing but debt so yes your 100% correct. Money is nothing but a note that says it is literally worth nothing but debt and best part is when money is "issued" or created there is always interest. If we paid back our debt with every dollar in existence, we would be no where near paying it off, because of interest.
@@AcidBombYT money is a valuable thing because we believe in it. its an piece of paper that is in definition an i owe u. u burn it u go to jail
When the bank pays a fine for fraud I assume that money doesn't go to the people who were actually defrauded. Does anyone know what happens to that money?
Yeah, the govt keeps it for their own use. Probably impossible to track down there it exactly went, but it did not go to anything useful.
Sometimes the courts earmark a portion of the settlement to help those who have been harmed. The state of Virginia diverted 2 such awards that I know of to totally different uses.
These are not criminal cases, so every single person must file their own civil case against them, or create a class action suit
Right back into their pockets through bailouts.
Buying new uniforms for the Taliban
Great video, I really like these new videos you're coming out with, since these stuff are things every concerned citizen should know. "They were were caught doing fraud and fined hundreds of millions of dollars. That's just the cost of doing business." Great line there, really sums up the limitless greed these people have
"traded more gold that has ever been mined" the fact that they dared to approach such an absurd number is insane.
Worse, it's still being done...and touted on crypto and far right platforms as a 'means to secure your future' ... fear selling while at the same time robbing us blind using the very thing they want us to believe will protect us.
To be fair, he may be referencing the financially settled gold and silver futures and not the physically deliverable gold and silver futures.
I understand that he said "take physical delivery", but I am not sure if he realizes there are 2 different contract types.
The financially settled one will clearly deviate, like most products that claim to track 1 to 1 with an underlying asset that are not directly backed by that asset 1 to 1.
In one day no less!
this is retarded argument. trade volume can and often does exceed total supplly.
This has been the case with gold ever since the Dutch invented fractional reserve banking in the 1500s. Outside of brief periods in time when gold rushes made the gold standard real, there has never been enough gold to settle contracts for gold since
"The fines were nothing compared to the money they made": and there you have it in a nutshell.
!!!
🟥SERCH ADITYA RATHORE-HE ALSO MAKES INFORMATIVE CONTENT LIKE COLD FUSION
Unless the bank as an institution is liquidated and bankers spend life in prison nothing will stop these thieves. I dont see that happening so unlikely to see something stopping these fraudsters.
In a "Kurzgezagt"!
Thanks Jews! :D
It’s gotten to the point where you just need to jail them, and take everything from them. Houses, cars, 401k, portfolios… everything. If we can jail people for multiple life sentences for murder, we should be able to do the same for huge financial crimes that will impoverish and drive innocent people to suicide.
Wells Fargo self inflected fraud was a tragic. Additionally besides fake account fraud, they had a series of other issues related to regulatory compliance, overcharges, car loan insurance, etc. It seems like every EVP had an incentive to force their area of responsibility to cheat.
wells fargo is evil. thats pretty much the bottom line. they arent respectable, they just pretended to be. they didnt put their reputation at risk, they just showed their true colors at the expense of the reputation average citizens chose to believe.
when you follow these companies closely, you can see the scams more easily. like how jp manipulated gold for years. we arent really sad about it, its just a thing that exists.
Wow l’ m just shock someone mentioned expert Mr William l thought I’ m the only one trading with him
Who’s this professional everyone is talking about always see him post on top comment on every RUclips video l watched
@Yvonne Maxwell Seeking for him contact details on WhatsApp 👇
+① ④⑦⑨ ③③⑨ ⑨④③③
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning" - Henry Ford
The only reason bankers haven't all been rounded up and decapitated is because people have zero clue how it all works lol
There should be a death penalty not for people but for corporations
The Best Way to Rob a Bank is to Own One
Doesn't help that much of modern society has been fooled for decades in the guise of bullshit dogma, meaningless jingles like "free markets" or "deregulation" or "cut the red tape".
Firstly, free market is as meaningless as saying go north of the north pole.
Markets are neither free nor not free. Markets are the exchange of things upon agreed rules.
All the mantra of free markets and deregulation and cut the red tape means is
1) Free markets: give up our participation in the making of the agreed upon rules.
2) Deregulation: give up your participation in the planning economic activity that would most benefit you and your fellow citizens.
3) Cut the red tape: Don't verify that we're fucking you in the ass after you've given up what little power in democracy you had.
People bought into those narratives. From fat fuck Rush now bloated corpse of probably reeking to the consistency of Limburger cheese Limbaugh.
And other dogma promoters of the robber baron elites like the phony Milton Friedman who tainted his bullshit article that won him the In memory of Alfred Nobel Prize in Economics.
To the rantings of a lunatic Ayn Rand.
They ate up the bullshit with mouth gaping.
And now complain the filth in their mouth is making them sick.
Propaganda is a horrible thing. If only people kept themselves skeptical and always learning. Perhaps such dogmas wouldn't fester and putrefy.
Now the same actors of the elites are again using time tested since antiquity of race, religion, and immigration to pit the masses against each other.
"That turd salad that stinks in your mouth, it would taste more like mash potatoes and gravy if that purple guy over there wasn't giving you the wanna cuddle and snuggle wink! Beat his ass! And that turd will taste like raspberries, I promise!"
Everyone has knowledge in the palm of their hand, but instead choose to watch tic to and Kardashians, sad days indeed.
@@tripplefives1402 how about a nuclear apocalypse? That ought to tip the scales a bit right?
I don't see many people jailed for fraud
They buy their way out. Despicable and illegal conduct. Outrageous! Thanks for the tutorial!
Yet normal people go to jail stealing food to survive.
Our “JUSTICE SYSTEMS” are also “CORRUPT” !!!
We are all under the “CORRUPT SYSTEMS” that they built from top to the bottom. We are all in slaves by these corrupt systems. ☠️☠️☠️
Or smoking weed to take the edge off of the 24/7 anxiety of living pychek to paycheck. Sometimes even more than anxiety… I always find it so depressing when I think abt the people who were jailed for smoking weed to keep suicidal thoughts manageable.
When you steal 1000$, but the police only want 10$ back.
It's like the mafia paying the police a share for looking the other way but on a much larger scale.
More like police wants 1$
😂🤣😂
Because they also get $100 behind the scenes.
it's called a bribe
As someone who is passionate about finance & investment funds this really does annoy me, but unfortunately we live in a corrupt world 🌎
In a way, you just said you're passionate about corruption.
@@nicksmith6629 you can't become ultra wealthy with a conscience.
@@nicksmith6629 no I've always been interested in how banking and finance works helping investors and normal clients make a profit, it's about being accountable with others finances and ensuring that customers are in a secure financial position. as an individual I cannot take down the large corporations who choose to dive into these corrupt practices.
@@nicksmith6629 regulation brings corruption, corruption brings regulation. The circle of government!
@@nicksmith6629Nice joke.
I'm at a point where I don't know anymore if I'm binging this type of content because I want to understand the world or because I like how the growing hopelessness hurts my soul
Just accept the fact that "Life" (with the capital L) was, is, and always will be, a scam. That's why I'm anti natalist.
Lets be real, the reason why the SEC is taking so long is because the ppl on the boards might have a buddy or two involved in these practices and don't wanna pull the trigger so fast. They'll keep playing these games if we don't start making it public discourse. #WallStreetBets
That's certainly one way to look at it, although I'd be careful with flying those flags so soon into the investigation. I'd say its more likely they look at these cases the same way as they initially looked at Bernie Madoff until his Ponzi scheme fell apart. Initially nobody wanted to believe that Bernie was committing vast frauds. Not even when a guy singlehandedly uncovered it and attempted to get it stopped. It is not uncommon for the financial world to doubt whistleblowers as is evident in every single fraud or pyramid scheme ever exposed. The amount of trust required to make the financial sector run smoothly is probably the core reason as to why so many executives really don't want to believe a whistleblower as such an exposure also speaks volumes of their own abilities in placing trusts in specific individuals and institutions, which over time easily can lead to paranoia, which also damages the economy.
@@thephilosopher7173 !!!
The Banks & Hedgies OWN the SEC, DOJ, FBI, and Mainstream Media. Endless Money = Endless Power.
Love this comment… I think you’re spot on
@@inverse2 yes they do… I have some great info to share… I’m the mean time look up Sean McKessy…
It is truly astounding to me that these banks have grown so large, powerful, and beyond the control of any regulators and international governments. Even if they could be handed substantial penalties for their parasitic and dangerous actions, the ripple effects of such massive banks being truly taken to task would financially ruin normal people the world over.
Too big to fail
The power of standing of others back.
Regulators are there to make the masses feel comfortable, not to do anything about it.
The best way to handle markets is to become educated yourself.
no
Well then government can bail out people. Not banks.
I'm from Iceland.
Lost everything when I was a kid. I wouldn't trust any bank for any reason. The only difference between the people in charge of the banks and criminals on the street is that the banks are untouchable and you won't find proper justice if they screw you over.
Not if the government has anything to say about it
Please do a video on Blackrock and Vanguard.
The two firms that run the world
🛑SERCH ADITYA RATHORE-HE ALSO MAKES INFORMATIVE CONTENT LIKE COLD FUSION
Agree!
ruclips.net/user/CharliesVidsvideos
Where on the contracts of the ETN and ETF are the little devils on the details, that people didn't read? Why nobody read contracts, or the issuers are so shady than omit on purpouse mentioning what are the traps on this OTC contracts or products
Dagogo's content goes from strength to strength. Love this channel.
Big props for the whistleblowr banker, it seems not all of the wall streets are "banksters" hiding in a shell of a "banker" supposed and expected to work in the boundaries of law. I'm afraid that he's "burnt" on wall street, by which i mean the chance of getting a job in any of the companies who're hiring people to do their dirty biddings. Luckly it's not over completely, even if he can't find a job there i bet that he could find some investors willing to trust him their money, so he could not only continue trading on stock market but also "show a middle finger" to the crooked banks which are surely going to make his job looking there a real hell.
Back to the point, great job mate for reporting this type of scumbaggery to the authorities, i just wish that the initial outcome (rejection of accusations) would went better, but this just is now a perfect and solid argument for insinuating collusion between banks and federal financial institutions. My entire comment is only valid if your math on the job and research is 100% solid. I think it should be because otherwise you wouldn't want to make a fool of yourself if the conclusion was somehow not correct, but i don't see any reason that you'd risk your carrer and image with a made up story.
I'll keep my thumbs up for you and your whistleblower case success since this type of almost systemic unjustice towards normal, typical people by some money hungry banksters.
Cheers and best wishes from Poland
I am sure "the big guy" will get his 10%. Some art will be bought, and that is the end of any DOJ investigation.
I wish I was a bankster & also work in investment banking for a bottomless wallet... #TDBank🌎💘💰
7:27 "The fines offered were nothing compared to the money that they made"
This right here is the most concerning fraud in my opinion.
Furthering moral hazard in our financial systems even more as powerful institutions know they face no real consequences for their actions
The politicians in both parties and media on both sides work on behalf of those institutions. They will never have real accountability. The system is designed this way intentionally. They are so successful at this, they were even able to convince some of the poorest Americans to vote for a multi-billionaire who is best friends with all of these bankers, and have them believe he was all about the "little guy."
Same thing happens in biotech, health insurance, or all insurance, and actually basically almost all businesses. As long as fines are less than profits, why should execs care abt breaking the law?
We, in India, have few banks that have been doing a lot of unethical practices, and since decades, these have resulted in major 'scams', that are well documented, but still these banks thrive and are supposed to be the most reliable options.
that crazy uncle who distrusts banks an buries his cash in his yard was right all along.
unfortunate the banks destroys the value of the bills anyway.
Not really. There are numerous ways to save and invest safely.
@@Zyphera yep.
There's a reason old timers distrusted the lovers of usury and their buildings.
This is why banks invested so much on social engineering and brainwashing society into thinking "your money belongs at the bank".
Do bankers keep their money in the bank though?
Lolno.
Invest in real estate, find government-approved scams to apply, and only purchase assets instead of liabilities.
If you have enough to bury money...just buy a house or something. Buried money is wasted money...inflation is a thing
I've been watching your channel since the beginning (about 7 years I think - yeah, when the T in the name was present).
You've always had quality content, but the production has improved so much over these last few years!
It's ridiculous that none of these corporations get punished, it feels freaking hopeless.
Is there any update on this?
How punished? By way of fines paid to the gov (BTW, which is in debt to the banks or other countries) or holding an individual(s) responsible and people serve pri-son time? The corporation will pass the cost to the consumer so the average public pays for their fraud no matter what. How much debt does the public/businesses owe to these banks? I am supposing a lot more with much higher inflation.
Banks: commits fraud
Government:finds out
Banks:shares profit as "punishment"
Government:ok you're good to go.
If you're gonna commit a crime. You better make enough to share with the government.
Best comment!
Banks: commits fraud
Government: finds out
Banks: kickback small part of profit as "punishment"
Government: ok you're good to go.
You know politicians own their stock
@@todoldtrafford Politicians are scums of the earth.
That's similar to how a lot of cartels are able to operate in Mexico
"The very same financial institutions who we trust with our money ..."
I don't trust them at all. I just don't have a choice but to deal with them.
Choose blockchain tech and you can opt out of their system.
But Blockchain is also an system that works like everybody puts some money in one pod and who gets faster the money out wins some money. And the other will loose in the end.
@@Tom-ku8bu no
That simplified example of leveraged and inverse ETNs does include a possibility (albeit an unlikely one) where the house would lose money: If the first two tosses were heads or the first two were tails, then after the second toss, one player would have $2250, the other would have $250, and the house would have -$500. Similarly, if the first five tosses have four heads and one tail, or four tails and one head, then one player would have $2531.25, the other would have $93.75, and the house would have -$625 (five heads or five tails in a row would be worse for the house, with $7593.75 for one player, $31.25 for the other, and the house at -$5625).
With that said, as the number of coin-tosses approaches infinity, the proportion of patterns that result in a loss for the house approaches 0, and this is ultimately because 1.5*0.5
They don't go into why or how easy it is to see or that basic diligence would show the behavior. Seems to be excited over the mundane.
This is an amazing expose. Makes me even more distrustful of banks than before!
Interesting. This account might be a bot, as the exact same message was typed on this very comment board by Doliio Volay.
@@monkieassasin this is an amazing expose. Makes me even more distrustful of banks than before !
Banks always create new debt to sell to the public,I really wonder who creates inflation.
Sounds just like Goldmansachs mortgage scam during the housing crash.
These fraud investigation videos are the best. Thank you for this amazing content!
This may seem like a dumb question? When these banks, corps, ceo's are "Fined" millions, Where does that $ go? Who benifits? What's the point? The information in these videos is awesome great job. Thank you for your time, effort & generosity sharing this valuable gift to society.
You need to wake up. The Matrix movie wasn't about being asleep in some virtual reality machine, it was about how everyone is asleep and goes along with everything the system does and never question it.
@@futavadumnezo No Shit my friend. The matrix is a "movie" it is entertaining but it isn't fuckin real pal we dont live in a simulation we live in a hijacked reality! I was merely pointing out that any money in fines disappears
it goes to either tbe agency fining them or the general fund
@@cdreid9999 That is the text book answer. What do they do with the millions/billions they receive? It surely doesn't benefit the people that are paying their salaries (agencies)or that have been victims of criminal or irresponsible acts? Whose General Fund? Really? C'mon! The question asked was intended for others to think🤔 I know exactly wtf goes on. Thanks for your time though.
The quality of these videos is ever increasing. Continue the excellent work!
God damn this is so enraging I'm almost crying. How in the hell is this even possible. Thanks for shedding light on these nauseating practices
Capitalism. If u got enough money you can get away with everything
Most of the Banking is just a way to take money off the working class and give it to the wealthy and they will constantly invent new ways to defraud the working people of the world. Instead of waiting and asking the Government nicely to step in and hold them to account (and give them a fine of less than 1% of what they made), we should start hanging them in front of Wall Street.
These people are leeches on society and it's time to remove them.
If you think this is bad wait until you see the sht that they pulled which caused '08 crisis, watch the documentary "Inside job" it'll give you an excellent insight into how fuked up the system really is
@@sympathiser_of_Germans_in_40s Yeah. What was it again? I recall: banks? gave mortgages to people eg with no job, then all these bad mortgages got mixed in with good mortgages, then the credit rating agencies gave everything a triple A rating so that the debt could be sold as "AAA super reliable" & every1 got bonuses. So a huge mountain of toxic mortgages built up; then every1 realised the economy was a FING house of cards so the economy melted; many went bankrupt & had to sell their homes. Then the rich bought many houses cheaply
@Olivier Wells what was antisemitic?
the music, the voice, the tales. This channel is magic, never change mrFusion!!
I wish I was a bankster & also work in investment banking for a bottomless wallet... #TDBank🌎💘💰😊
Thank you for covering this topic. This is absolutely the largest unmonitored and unregulated gambling industry in the world, and this is coming from someone who has worked in finance before. I want more of this, Cold Fusion man! 👍🏻👍🏻🌈🌈💯💯
Another brilliant video. Love your channel
It's so sad to say...with all those who are whistleblowering...the amount of need for greed by the financial system and banks will shift from one practice to another...greed has no moral obligation but to themselves
I wish I was a bankster & also work in investment banking for a bottomless wallet... #TDBank🌎💘💰
Justice needs to be served in the form of jail time, and NOT a fine.
Thank you for the awesome video.
The regulators are a part of the problem and not the solution. I'm afraid the entire system is totally rotten.
@Cheryl Jensen I totally agree with you.
1) DON'T short sell an ETN simply because it is guaranteed to go down in the long term. If you short the ** out of it like the guy mentioned, you WILL GET WIPED OUT during a spike, which happens every once in a while. Leveraged ETNs like TVIX are notorious for wiping out short sellers.
2) Future contracts trading hundreds of times the volume of the underlying commodity is perfectly normal. "If everybody demanded delivery" situation applies without using future contracts too, when everybody goes to the spot market and buys that much physical gold right now. Instead, they just speculate on the price using those contracts. So having future contracts doesn't actually change the dynamics.
I wish I was a bankster & also work in investment banking for a bottomless wallet... #TDBank🌎💘💰
*The Golden Rule*
He who has the gold makes the rules
He also needs some knowledge, but in general, yes.
reverse of that, who makes the rule, left gold next to nothing for others
@@electronresonator8882 That's not a reverse, that's a double negative.
OOOooooooOOO this looks like its gonna be a good one! Love the fraud investigation episodes
Liked the video because you actually had the link in the description like you said, so many youtubers just say that because it sounds nice and like “ohh yay hes giving credit” but do not actually do it, so thank you for actually putting the link in the description to your sources
As the old adage goes for those who want to make money illegally: "If there a will, there's a way"
that's not really an adage - there's little truth in it. It's just that if you don't try, you will most likely never succeed. But I can want 1+1 to be 3 all day. There is now way. Similarly, we can't all be rich. Even if we are willing to be wealthy. I never liked the proverb, it's empty and just there to give hope to failures. Some people need that. But most people need some realism...
maybe I use adage a bit strictly. Still, I think it's a crappy proverb nonetheless xD
well done ColdFusion, this is what real journalism USED to be all about, before it was bought up and silenced by corporate criminals
Most people venture into investments to be a millionaire meanwhile I just want to be debt Free
Just do the right thing by trading with an expert trust me you will be successful and debt free
Starting early is the best way to getting ahead of build wealth, investing remains the priority
Obviously trading in bitcoin is very volatile and risky to trade that's the reason most traders trade with a company
Now is the best time to purchase and invest in Bitcoin stop proscastinating!
Investments are stepping stone to SUCCESS, Investing is what create wealth
The last part of this video is scary, these E T NS are incredible, how the hell can a corporation get away with this. Thank you Rob.
Peter,
thank you for your comment… only after a week some great developments. I’m keeping ColdFusion in the loop…stay tuned!
That's the video is meant to scare by purposefully deceiving. Even the maths here are wrong. Disappointed in this channel that had among the best videos I've seen.
@@apostleofsilenus1201 agree, this is such a simplification that entirely misses the point.
It is not because it is and isn't illegal.. it is because consumers are now in the same level as institutions. And with fintech and robo tech investments and wealth app investments.... Nobody is advising or controlling those...
It is not because it is and isn't illegal.. it is because consumers are now in the same level as institutions. And with fintech and robo tech investments and wealth app investments.... Nobody is advising or controlling those... My guess is that, some banks in certain countries could do this and it was as designed. But with so many banks in a crisis. Some of the mergers didn't go correctly.. and this is possibly a new level of risk which nobody literally patched. A systemic error occurred due to say mis management.
Is there an audit trail of where these “fines” go? From when and how it’s paid to where it all ends up would be very interesting.
I wasn't a victim of the Wells Fargo scam, but I've been planning to leave them ever since due to the principle of the matter. It's finally happening in a few weeks now that I've opened a credit union account.
They have floors of lawyers to gauge the fine to ensure it’s within the threshold of the risks they took
The more I learn about finance and banking, especially investment banking, the more it looks like gambling with additional steps and middlemen.
No regulator will ever admit that they have failed in their task, because then they will face pressure from the government, and possible dismissal.
some products do have economic value. Some futures are used as hedging on unwanted volatility, like fuel for airlines
and that's why cryptoassets are the most important invention since the internet. 'cuz you can cut out the middleman.
@@nonchablunt they are also without any economic value whatsoever. They solve nothing good.
That is true by the way
@@waiguoren IMHO ever since QE went into maximum overdrive, regular securities have had roughly similar credibility as cryptos when it comes to valuation and economic utility. It's all paper growth, with the downside that our pensions rely on it.
Such a good video. I thought I knew about the financial collapse pretty well and still learned a bunch
Should've broken up the banks in '08 and reinstated Glass -Steagal!!
You can thank Obama listening to Tim Geithner for that lack of justice and foresight. Though probably any president would've done the same to protect his donors before re-election.
Preach brother !!
⬜SERCH ADITYA RATHORE-HE ALSO MAKES INFORMATIVE CONTENT LIKE COLD FUSION
Why break them up at all? They should have just let them all fail, along with automakers and all the other big corporations that got insane amounts of welfare.
@Sherri T[A]P Me!! To Have [S]EX With Me That's exactly what is happening. They just keep kicking the can down the road as long as they have a good story they can sell the mindless citizens to justify it.
My question is, when this method becomes public will we be able to use this method without SEC coming down on regular investors, coz
it’s a crazy and amazing thought same time hw a lot of u guyz pull through all this in the world of investments. When stocks n coin at a time Inflate and deflate without notice, lol for me I would have had a cardiac arrest longtim😂
you have to have an idea on what you wanna invest in carefully before going in
If you ever need an experienced tradr that will show accurate TA then I will sugjest TE LE GRAM > [ Jjdonna ] . I trade on a better exchange with lesser fees, happy to say I’m able to do that with her.
Indicators are very lagged so one cannot rely on them instead they should look into learning price action trading with a good TA
@@drealtulip9494 This lady right here, I tradr with her. She’s inventive and P.O.T are no jokes. Not surprised you made mention of her
When you see enough of these it eventually dawns on you that it’s impossible to get beyond a certain degree of size, profitability, or power without committing some type of fraud, deceit, illegality, or otherwise shady practice.
I wish I was a bankster & also work in investment banking for a bottomless wallet... #TDBank🌎💘💰
The mistake that the two articles made reporting on this before is that they explained this in very technical terms so nobody really cared. You on the other hand got the title right and you do your best to explain it in human understandable terms.
another phenomenal coldfusion doc.
Wow, this has the best people didn't skip through the video score I ever seen!
Dude, you missed out British tax havens (which is also dubbed as 'Britain's Second Empire'. Also the fact that the City of London is a separate legal jurisdiction, where corporations take part in mayoral elections. Missed the murkier stuff mate
Maybe he'll do a video on it! Good note though
I dunno but I don't think City of London is a separate legal jurisdiction from the UK. But you could argue that because the rich are rather above the law (eg fines are less than fraudulent profits) there is a shadow jurisdiction for the rich, many of whom work in the City of London. Apparently big fraud cases tend to be very difficult to prosecute as they are very complicated & the jury has to take like 6 months away from their job to study all the evidence. I saw a video about the black cab rapist; in it a lawyer said "Complexity is the enemy of the prosecution."
Lol corporations vote because only 37,000 people live in the city of London, despite the fact that millions commute in every day. Nominated workers get to vote in elections because the commuter population is so large and so influential on its economy. The company you work for can’t tell you how to vote either, and you don’t have to be an executive to get a vote.
Source: manager used to vote in the City of London elections
The more I get to know people, the more respect I have for dogs.
Because dogs give unconditional love no matter what !!
@@OfficialGoldenboy that's ridiculous lol just American and westerners pretending animals have complex emotions because thet society is perverted and sick
@@muslimamerican4129 Why? Asian (including middle eastern, south Asian and China and most east Asian countries), African, South American countries are just as fucked up.
I used to wish I had the superpower of being able to read minds. Since Facebook and RUclips I no longer wish for that. The average mind is not worth reading.
@@burmy1552 Gotta remember, half of people are dumber than average.
Dude the amount of information you know is remarkable
U should definitely make a video about India's $23 billion 2g Scam
Alternative title for this episode:
WHEN BANKS BECOME THE CASINO
Man i love your videos, it's great to see your keep doing it. Your made a lot of progress. I love watching your reports and exquisite editing. Keep it up
Can’t wait until ColdFusion makes a documentary about GME and AMC movement next year when the MOASS happens 😎
Always bank with credit unions. You are a member not a customer. (Share holders don’t run them)
Always invest with vanguard. Unlike the others, vanguard is owned by its investors not stock holders.
In what manner is ownership percentage denoted in business?
2:47 "it focused on the intense pressure on bank managers and individual bankers to produce ever-increasing sales and even mathematically impossible quotas" - it requires a pretty high level of evilness to target your own employees in such a way to practically force them to fraud.
It also requires a pretty high level of evilness to go along with it.
That basically makes the justice system and accomplice. Why would we ask and accomplice to help solve a problem that the participate in. Reminds me of the fox and the chicken coop. We are the chickens the fox is the regulator.
What is needed is a free market mechanism sort these concepts before they reach rod public acceptance. Though I can't identify the specific technology to do this I'm confident it already exists. Paul
there is no free market
@@gradeyundery4939
There is a free market it's simply latent or dormant it exists no matter what the problem is the free market is not being utilized. Think of the millions of transactions every day which take place from the simplest to the largest without any nefarious purpose and that fill the daily needs and requirements of most of us. There are some bad actors out there unfortunately some of them are very large and in fact many people. The technology is coming though where we can avoid this kind of thing be patient keep a good attitude you'll see Paul
I know there's tons of overhype around blockchain tech and crypto, but developers (not speculators) in this space are working towards what you're describing, among other things. Check out Cardano, which the founder describes as a financial operating system, one that allows distributed control, and cuts out the need for a trusted intermediary.
@@gradeyundery4939 This is the "free market".
Deregulate! Government Bad!
Was bullshit. It essentially created a power vacuum so that these blood sucking bankers can scam people, and parasitical monopolists can squeeze wages to the point of non-gainful employment.
There is no such thing as a free market.
It's as dumb as telling someone to go north of the north pole.
Markets are neither free or not free.
Markets are simply the manner in which people exchange something under agreed upon rules.
"Free markets" or "deregulation" etc. just means to take away your participation in making of those agreed upon rules... with both hands.
And giving it completely to the bankers and financial elites in this case.
But it goes to all powerful rich elites.
They want us all price takers. And they'll make the rules...aka market makers. And we must shut up.
End of any democracy in shaping the agreed upon rules upon which the markets will function.
Take that tired dogma of "Free market" mantra and burn it.
It's an obvious toilet buzz word propaganda to get dip shits hot and bothered and agreeing to neuter themselves.
To be a useful idiot to further exploit an entire people.
@@jmitterii2 long story short, you agree with me :)
There is indeed such thing as being above the law, you just need to have enough money. That's it, it doesn't take anything else.
With enough money you can get away with ANYTHING in this world, even craft the very laws to your desires.
Don't fool yourself thinking otherwise.
And people dare questioning why we desperately need bitcoin. The big banks and governments don't like crypto because then they can't continue doing all this disgusting practices.
Bitcoin is extremely flawed, do not talk about things you do not understand, crypto has its merits yes, but always remember who who holds the reins of power, to break your bitcoin fantasia, over 60% of mining is done in china and the whole consensus system the blockchain relies on can be broken down if you own 50%+1 of the whole network so if china really wants to they can say that bitcoin can be worth whatever they wish or you know maybe they can just say fk it bitcoin is ilegal, which is something most governments can do. Bitcoin is still fiat currency, it is still based on trust and the anonymity it so promise is also gone as in many places you cannot even buy bitcoin without your ID so yeah, no.
@@islar7832 Crypto tech is evolving rapidly. Decentrialised exchanges and POS technology will deliver the financial freedom we are all hoping. Buy Ether... it's going to replace BITCOIN.
@@beautytruth8181 IOTA is another very promising one with a way batter concept than bitcoin
@@beautytruth8181 Ether, and XLM. Blockchains that actually are creating uses and aren’t just speculative currencies.
@@matthewfox1561 you don't know what you are talking about. Fiat is not backed. Bitcoin is backed by it's own design. You can not "mine" more than is allowed by design. Thus inflation becomes IMPOSSIBLE. Sure some sick bankster can buy up a lot of Bitcoin and crash sell it. But the amount of Bitcoin in existence will never be some surprise or manipulated by a central bank.
I've done ETN Market Making for Nordea (Finnish Investment Bank). I don't know about the institutions mentioned here but at Nordea structured products are hedged, so the profit is the spread, fee and interest. No profit is made on directional moves (that would be stupid, considering some minifutures extend up to 50x leverage to the counterparty)
The fact that the gold futures volume is much larger than the existing gold is not a problem. It is cash settled, i.e. you bet on the price of gold with a counterparty, but no real gold is ever received, you rather receive the gold spot price at contract expiry
Unless there's a massive global economic downturn, or hyperinflation or some other disaster where people want to start collecting their gold because FIAT is useless. Seems like it'd be a run and would exasperate the problem by making the collapse of FIAT near instantaneous.
15:20 - Had no idea landing on the side was so common in coin flips.
Coldfusion videos are some of the best videos on youtube, I don't have to even recognize the title to know I am going to enjoy the video, ColdFusion rocks!!
This is why decentralized finance is so important and will explode in popularity.
I knew some of these already, but I had no idea about the ETNs. Wow. Excellent vid as always.
“The fines they paid were just the cost of doing business, and it’s still happening today.”
Wow. That stung.
Still baffles me how an institution benefits in billions/trillions from fraud but just gets a small fine in millions.... Shouldn't they be fined in excess of the estimated gain from that fraudulent activity?
🖍️✨🌎
†𝟭𝟱𝟭𝟮𝟲𝟳𝟳𝟵𝟰𝟲𝟮
Exactly make 4billion get fined 9 billions
How are we to go forward, when integral part of our system is working against us?
Thank you for the UP!
By taking that integral part and ripping its tentacles from every agency tgey infest in Government. As well as publicly or privately traded entity. A cancer humanity deals with over and over. Perhaps as a pedophile cannot operate a day care.....Thieves should not control the worlds currency and assets. Everything that has transpired has been illegal. Banks pose a greater threat than standing armies. Thomas Jefferson. This is nothing new yet able to infiltrate positions of power historical context is not passed on as banks destabilize Nations by manipulation of markets during tragedy and war. Financing both sides! Known to the bankers as the Babylonian money magic system.
Future contract of gold do not necessarily give you rights to own a piece of gold, in fact, most don't. Rather, it is a contract between you and your issuer, that this piece of contract is worth as much as a piece of gold.
This let traders trade and speculate gold without physically owning a piece of gold. Therefore, value of a future contract of gold do not lay in the fact that it can be exchange with a gold, but that it can be traded as much as a piece of gold. So it is a misconception that everyone is going to rush to the bank with the piece of contract to get their gold out. If traders dump their gold contract, what happen is the price of gold goes down, not that we ran out of gold.
I wish I was a bankster & also work in investment banking for a bottomless wallet... #TDBank🌎💘💰
Gets a ColdFusion video notification. Me: Oh yeah, it's gonna be a fun evening!
8:32 Isn't that the same with all futures contracts? Oil, pork bellies, etc.? I was taught that the contracts are just to mitigate risk and actual deliveries are unusual.
I had exactly the same thought - I'm not an expert but the fact that the amount traded was so large did not seem significant to me.
Your the man Dagogo. Best documentaries on the planet. Keep up the good work.
These ETNs sound great, how do I short them?
No wonder prices of vintage watches and high-grade collectible action figures have quadrupled over the last year.
All I can say - good luck to those who recently became new house owners...
High grade collectable action figures lol