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Royal Bank Of Scotland -owners of Ulster Bank - Engaged In The Systematic Theft Of Business Customers’ Assets
international |
crime and justice |
other press
Monday November 25, 2013 23:55 by T
Max Keiser on the “financial terrorism” of Royal Bank of Scotland The headlines have recently reported that the Royal Bank of Scotland owners of Ulster Bank in Ireland carried out widespread fraud and engaged in forcing customers who were repaying their debt and otherwise healthy, into going out of business and this allowed the bank to pick up their assets namely their properties at a fraction of the true costs. They carried out this financial terrorism mostly against small firms who were too small to defend themselves. In a blog by journalist Ian Fraser linked from the report that Max Keiser carries on this on his website, Ian writes: |
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Jump To Comment: 1Banks can create money out of nothing to give out in loans. The fractional reserve system allows them to do this. Ratios of up to 100:1 between loans:deposits were common up until recently. But clearly they can't just make up a load of money for themselves then buy property with it. So they give out this "funny money" that they just conjured up in loans then repossess the real hard assets the borrower bought with the loans when the borrower becomes distressed. This sort of behaviour is often referred to as "leveraged buyout" when done by one corporation taking over the assets of another.
They score when the loans are given out through front loaded bankster bonuses. Then they score again when they get to repossess the hard assets, which they can sell off cheap to insiders, speculate on, or rent out into the rentier economy and parasite off the labours of the working class who actually do productive work.
So, they make up the money you borrow, then end up with your actual house, and all without doing any actual productive work. Nice business model!
If I wanted to design a scheme whereby I eventually could own all the assets in an economy without doing any actual productive work, it would be along these lines.
"Give me control of a nation's money and I care not who makes it's laws"
— Mayer Amschel Bauer Rothschild