Financial elite finances all candidates, some of them win, the winners appoint the financial elite to be board members of the organization that is capable of printing money and giving bailouts/buying poisoned assets from said financial institutions. The money is not made from FED profits, the money is made by the financial institutions owned by the board members. What's so hard to understand about that? It's clearly a scam.
It does not only happen at the central-banking level, but it's another tool used by them.
Let me give you a similar example, not directly involving central banking, from my country. Paulo Guedes is the founder of BTG Pactual bank. He goes on and funds the candidate Jair Bolsonaro for presidency. Once elected, Bolsonaro appoints Guedes to Ministry of Economy. His monetary policies decisions makes the USD/BRL go from R$3.71 to R$5.70. November/2021 comes by and pandora papers are released. We find out the dude has almost 10 million USD stashed in offshore tax-heavens. His decisions made his personal fortune grow by 14 million BRL(equivalent to 956 years of minimum wage).
This does not involve central banking directly but the idea is the same: put the financial elite in positions that allow them to make large scale decisions to grow their personal fortunes while affecting the lives of all others. It's a scam.
It's not really a conspiracy. You just need to know the right people intimately.
I live in a country with a thoroughly dysfunctional banking system which, by most accounts, fall right in the middle of the global income bracket.
Yet I know a ton of people in the upper-middle and lower-upper class and they all have the following characteristics of their wealth, which _do not_ appear in most wealth statistics:
* One or multiple bank accounts in offshore tax havens, with the US being the most important
* Multiple properties, whose real ownership is hidden by being assigned to family members, friends, and relatives
* A lot of overseas trips to buy things that are normally horribly expensive due to to import restrictions.
* A deep, thorough understanding not only of tax law, but also personal connections with people who work in tax agencies to understand when to avoid (legally), when to evade (knowing the tax agency won't pursue evasions under a certain currency amount) and when to get into convenient tax amnesty regimes.
Again, these aren't phenomenally rich people and they're easily hiding away 50-85% of their net wealth. By most metrics these people's income would, in theory, put them in median American lifestyle. Yet it's obvious that their standard of living _easily_ puts them in the top 2-5% of a developed country, with the addition that labor costs are so cheap that they can afford services even pretty wealthy people in other places cannot.
This is a classic in Latin America, and I have no reasons to believe it's any different elsewhere; the instruments are just different.
I suspect that's what's happening here. This is a state-backed HODL play that puts deposits into the government's hands.
Bukele himself is not formally educated beyond high school, and has no background in finance, which would be needed for an initiative as large as this. Additionally, the US State Department has some of his close colleagues on a list of corrupt officials [0].
I wonder what protections are in place that would prevent Bukele from pulling the rug and boarding a private jet with nothing but a seed phrase.
The world financial system is printing money, they are moving trillions around several nations to hide the fact that this money does not exist.
How would you know how much value in U$ is hidden in Brazil by international banks? How would you know how much U$ is hidden in Singapore, South Africa, Mexico?
You don't know. The US reserves are audited, the European economies are regulated, but the capital movement around the world is impossible to track.
This money does not exist in reality, there is no record of it anywhere. But does anyone care? Has anyone read the Panama papers? Billionaires and world leaders are hiding trillions in bank accounts that you can open remotely, without hassle. This money is unaccounted for.
Banks are free to move as much money as they please around the world, they just print money and move it.
The trillions in funds around the world do not exist. The markets are rigged.
Everything I've heard about the panama papers suggests that it's a massive scandal that exposes how the rich and powerful are systematically fucking over society. The sad truth is that even though it's been exposed, the scheme is too complex for most people to grasp. Hell they even made a movie about it and no one paid much attention.
Yeah. Isn't this almost literally what Goldman did during the financial crisis. Seems like what is counts as a financial crime or fraud has a lot to do with how much purchase you have with your respective countries powerful and wealthy.
Exactly this. The financial system is designed to extract wealth globally and funnel it to well connected elites and the organizations they control. It’s not even a secret or a conspiracy, since all of the information is in the public domain. Rather the strategy is to maintain social stability, since for most people as long as their standard of living is stable or slightly improving, they won’t bother to take actions to defect from this system (such as buying assets that are not primarily in USD)
There is a reason the author is on the board that gets to decide this. I wish the relevant people would just pocket the money and book a plane ticket to an offshore location, rather than bragging about it on social media. That way at least some people other than the hedge fund would get something out of this deal. I can understand simple corruption. I too need a fast-ish sportscar and a decently sized mansion to fuel my habits. But this, I cannot understand at all.
It's the combination of bureaucratic incompetence (the banks) and savvy malice (the large companies and rich individuals figuring out how to game the system and pick up some cash cheap).
>> Drug cartel money, strong ties to the Russian oligarchy, forex manipulation, corrupt dealings with African governments, destruction of records, tax fraud.
It's clearly better when instead of bankster elites we would be controlled by some shady scammers sitting in the non-extradition offshore. Truly a revolution in finance.
Not sure if you are talking about PPP loan fraud, loss carry forward, or some other scam that the extremely wealthy are able to pull but I'm interested to know which one!
Completely agree. While I'm very interested in the data and I'm sure there is a significant amount of implied evil deeds going on, I think notion that there is a conspiracy to protect the 1% is sophomoric enthusiasm at best (and idiocy at worst).
People move money around for a variety of reasons. Tax fraud, sure. Capital flight for protection of assets from instability or fears of nationalization (Cyprus, for example) is another completely valid reason and I don't see anything wrong with that. At different scales of wealth, a shell company isn't that different from hiding cash in the mattress.
Now, if you're talking about dictators in resource rich banana republics siphoning off riches of their country, then by all means, let those be prosecuted... But how likely is that?
It does not only happen at the central-banking level, but it's another tool used by them. Let me give you a similar example, not directly involving central banking, from my country. Paulo Guedes is the founder of BTG Pactual bank. He goes on and funds the candidate Jair Bolsonaro for presidency. Once elected, Bolsonaro appoints Guedes to Ministry of Economy. His monetary policies decisions makes the USD/BRL go from R$3.71 to R$5.70. November/2021 comes by and pandora papers are released. We find out the dude has almost 10 million USD stashed in offshore tax-heavens. His decisions made his personal fortune grow by 14 million BRL(equivalent to 956 years of minimum wage).
This does not involve central banking directly but the idea is the same: put the financial elite in positions that allow them to make large scale decisions to grow their personal fortunes while affecting the lives of all others. It's a scam.
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