New York Times 16 October 2011: “The Occupy Wall Street protesters in Lower Manhattan have also jumped on the debit card fee as one more example of corporate greed. And activists are calling on account holders to switch to nonprofit credit unions en masse on Nov. 5, which they have named Bank Transfer Day; a Facebook page devoted to the effort has drawn more than 38,000 supporters.”
Seems they might be turning their attention to true representation of the people. Personally, I’m lucky enough to be dealing with an old time Maine bank that actually respects and supports its customer base. But, obviously, many aren’t that lucky.
Than again, I come to it having dealt with New York Banks in the 1960’s and 70’s – something which left a bad taste in my mouth. In addition we have the “Credit Card Banks” – institutions formed as banks which actually perform few, if any, real banking functions beyond their credit card business.
These institutions are the ones that “Occupy Wall Street protesters” should really focus on. For starters, they serve to launder and transport money for criminal organizations by both establishing bogus accounts and allowing bogus retail accounts to access the bogus accounts with what are equally bogus transactions – a process that utilizes unreported, or unidentified, identity thief.
It is actually rather simple: You open an account with them, and, eventually, tired of the fees, you pay and close the account. However, while they stop issuing statements – even acknowledge the closing by issuing a closing statement – they actually keep the account active. This allows them a valid Social Security Number connected to a real person, with valid supporting account documentation to be used to launder money and eventually shield income from taxes.
The laundering involves charges and payments – when done from overseas “merchants” with funds to pay those charges exported in a manner that allows all the National Security & Exchange audits. Locally, they pay the account immediately from drug money or other illegal sources. As far as the records are concerned, an audit shows there was no “income” – other than the “normal merchant transaction fee.”
Thus the transaction is untaxed and moves funds to the foreign parties. The merchant fees can then be made mute through the declaration of other bogus accounts as non-performing. Having made charges to those accounts for interest and non-payment, the accounts are turned over to a collection agent … ideally “sold” at a deep discount. The “Loss” is than deducted against other income – the merchant fees associated with the money laundering operation.
Of course, it is possible to move funds from foreign terrorist or drug related sources into the country - through bogus merchant accounts here. Cash can than be distributed as charges to the identity theft cards and paid through the false merchant account or ATM’s (which provide a nice way to pay terrorist cell members without anyone knowing who they are).
Of course, the fees for nothing that are utilized allow the money laundering firms to claim that their operation conforms to “industry standards.”
Any auditing these operations is made difficult by members of Congress whose election is funded by these firms, and the terrorists who are their hidden owners. The simplest means utilized to hamper the auditing process is to restrict funding ear-marked for that purpose. This allows Terrorist groups to be condoned by “Act of Congress,” and the Nation to be attacked economically during the extended periods between physical attacks.
The physical attacks on America – the World Trade Center Events – are NOT intended to be meaningful. They are intended only to create shock waves and distract our attention from the “Bank Fraud” being implemented daily by “Credit Card Banks.”
Of course, the Republican Party is composed of, and supported by, experts in Finance. They are well aware of this fraud and the fact that they are facilitating both the drug trade and terrorism – while defrauding the treasury of money needed to pay off the National Debt they are intent on doubling whenever they can gain control of the Whitehouse.
The Republicans will do nothing – beyond ongoing obstruction – to address the situation. Unless they can focus their efforts on placing responsibility on those who, objective evidence indicates, are responsible for our troubles, “Occupy Wall Street” is, to rely upon an ancient expression: “Pissing into the wind.”
- THE MOST HARM TO THE MOST PEOPLE -
When pitted against GOP Criminals
“Occupy Wall Street” … a waste of effort.