Posts Tagged Money Laundering
by: Harry Wilson
July 30, 2012
HSBC’s chief executive, Stuart Gulliver, has described the US money laundering scandal as “shameful and embarrassing” as the bank revealed the episode would cost it at least $700m (£444m).
In total, Britain’s largest bank said it had set aside $2bn in the first half of the year to cover the cost of money laundering as well as compensating UK customers mis-sold payment protection insurance and interest rate swaps.
Despite the provisions, HSBC reported a 11pc year-on-year increase in pre-tax profits for the first six months of 2012 to $12.7bn.
Mr Gulliver’s apology followed a damning report this month by the US Senate that slammed HSBC for letting clients shift funds from dangerous and secretive countries. The HSBC chief said the $700m provision was the bank’s “best estimate” of the cost of the scandal, but admitted the number could be “significantly larger”.
Are Western Banks and the Mexican Drug Cartel Inter-Dependent? BoA Implicated in Drug Related Money Laundering
July 9, 2012
Whose to blame for the ongoing violence in Mexico related to drug cartels? Whilst the popular idea places the blame on the Mexican federal government and corrupt state officials, the truth of the matter seems clearly to be that major western banks are abetting the laundering of the cash which drives the violence. Through the US federal government – an institution fascist in nature – the banks are supplying the weapons in a feedback loop designed to keep chaos on the high and cash passing through their accounts.
On Sunday, the Wall Street Journal reported that the Mexican cocaine-trafficking cartel Los Zetas used accounts at Bank of America Corp. to launder money. There is a distinct tie between Los Zetas and the second-largest US bank by assets, Bank of America, according to the Federal Bureau for Investigations. The FBI’s sworn statements cover about twelve transactions since December 2009 in which over $1.5 million was deposited or withdrawn from two BoA accounts.
by: Michael Krieger
July 7, 2012
At the center of the growing Vatican money-laundering scandal is Gotti Tedeschi, who fell afoul of powerful players within the Church for seemingly investigating financial crimes too closely upon becoming head of the Vatican Bank. This is an incredible story that is sure to only grow in scope, and of course America’s number one criminal organization, JP Morgan, finds itself squarely in the middle of it all. This is a lengthy but must read article…
The pope had apparently tasked the financial executive with making the Vatican bank more transparent. But by approaching his task with perhaps an excess of zeal Gotti Tedeschi upset powerful forces within the Roman Curia, the Vatican’s administrative and judicial apparatus. Several high-ranking officials within the Curia viewed the bank, officially known as the Institute for Works of Religion (IOR), as something akin to a trust company for clandestine monetary transactions that is not only used by the Church, but allegedly also by the mafia as well as corrupt politicians and companies. In one of the seized Gotti Tedeschi memos, he wrote: “I’ve seen things in the Vatican that scare me.”
A role in the effort was played by a bank in Benedict’s home country: Germany. In 2009, the same year that Gotti Tedeschi took over as president of the IOR, the bank set up an account with the Milan-based branch of the American bank JPMorgan Chase. From that point on, millions started flowing on an almost daily basis from JPMorgan’s Milan office to the one in Frankfurt, where the IOR also had a JPMorgan account.
By Gordon Duff, Senior Editor
February 23, 2012
Below is one of the strangest stories in financial history, one involving the US government lying about hundreds of thousands of tons of imaginary gold, illegal wire transfers and loans totalling $15 trillion.
The video, from the House of Lords, is amazing in itself.
What it doesn’t express is where the money came from though Lord James of Blackheath proves conclusively that an effort was made to say it came from a gold reserve in Brunei that, in fact, never existed.
At surface, it appears we have stumbled upon the largest terrorist organization in the world and have found original documents tracing its funding to the Secretary of the Treasury and the Chairman of the Federal Reserve, two of the top financial officers in the US.
A cursory review of terrorism statues in the US indicate that all transactions we will learn about are, in fact, to be assumed “terrorist money laundering” and that the only thing preventing the immediate arrest of hundreds of top financial officials is their political connections alone.
We will be able to offer an alternative, more insights, some hard intelligence and some very valuable background that we hope will offer insightful and realistic perspectives on this amazing story.
On February 16, 2012, Lord James of Blackheath, member of Britain’s House of Lords presented evidence of an illegal scheme begun, he has thus discovered, in 2009.
His documents including originals signed by Alan Greenspan and Timothy Geithner, show the illegal “off the books” transfer by the Federal Reserve Bank of New York of $15 trillion to, initially, HSBC (Hong Kong Shanghai Banking Corporation) London and then to the Bank of Scotland.
The Bank of Scotland, under royal charter but restricted from involvement in any such transactions, simply “gave” the money to 20 European banks to use in a highly profitable scheme of co-trading “fresh cut” MTN’s (mid-term notes), generating trillions of dollars in profits over 3 years, none of which is shown on books, none has been taxed or has benefitted shareholders in those banks.
As Blackheath outlines, the “deception and cover” for this transfer is the imaginary seizure of 750,000 tons of gold by agents of an unspoken entity (confirmed by the highest official sources as the Bush family and CIA), the listed “source” of the money.
The government of Indonesia confirms this to be an utter fabrication and that the individual named had 700 tons of gold (about half of what Gaddafi was holding), not 750,000. It is noted that only 1,500 tons of gold have ever been traded in world history, as stated in the House of Lords.
The issues that are initially brought out, issues inconsistent with international convention and starting the reader on what is only the surface discovery of two decades of crimes involving dozens of governments are as follows:
- At no time has the Federal Reserve Bank of New York been authorized to hold the funds indicated
- However, documents held by Lord Blackheath prove, conclusively that they did hold such funds and transfer them in a manner as to obscure their origin by using HSBC and the Bank of Scotland. This process, seemingly involving Alan Greenspan, Timothy Geithner and others would appear to be “money laundering” until some other explanation were found. None has been offered.
- The “collateralization” of these funds, being 750,000 tons of gold, is proven to be fantasy. These funds then, in no way or manner, are related to Brunei. The presentation of this false transaction has been conclusively proven to be a “cover and deception” project such as an intelligence organization would use.
- The transfer of these funds, all done without any authorizations, governmental or otherwise, particularly without agreements, payment of interest to the United States and without knowledge and approval of congress makes every aspect of this criminal in nature, a violation of innumerable statues.
- The receipt and use of these funds by the 20 banks, two of which are Wall Street’s largest, and the use of these funds to generate profits while the funds themselves are held “off the books” and the profits hidden and laundered, themselves the earnings of funds received through criminal acts makes any and all involved part of a criminal enterprise.
WHERE DID THE MONEY COME FROM
There is no record of the Federal Reserve being authorized to “create” $15 trillion, equal to the entire national debt of the United States.
There is, however, proof that funds that totalled, at one time, $27 trillion had been earned surreptitiously, disposed of as part of an intelligence operation against the Soviet Union and then later stolen with accusations made against George H. W. Bush as being the perpetrator.
I have spoken with two individuals, one President Reagan’s intelligence coordinator and the other Chief Legal Cousel for the Central Intelligence Agency regarding these funds.
Both have indicated that former President Bush had asked that these funds, totalling $27 trillion, be transferred to his control, that threats were made by Bush and that many involved in this operation suffered, issues including murder, illegal arrest, torture and detention among them.
The individuals I am speaking of repreatedly met with President Bush over these funds, disputed his claim to them, and indicate that the majority of the funds are the property of the people of the United States.
These funds are the mysterious “Wanta” funds, monies earned through years of currency trading aimed at collapsing the Soviet Union, a plan originated by President Ronald Reagan, then White House Intelligence Coordinator Lee Wanta and CIA Director William Casey. I have been told that, while this operation went forward under President Reagan, he had ordered that his successor, George H. W. Bush not be “briefed” out of “mistrust” for Bush.
The funds themselves were earned through a scheme of trading Soviet roubles at enormous profit, a practice that eventually collapsed their government.
A portion of the profits are subject to current litigation in the Federal Court of the Eastern District of Virginia, Judge Lee presiding. I have over 2,000 pages of documents on this case which shows a remainder of the original funds had been transferred to the Federal Reserve Bank of Richmond by the Bank of China, a party to the rouble trading practice, in 2006 and is claimed as totally owned by Ameritrust Corporation.
That amount was $4.5 trillion of which we hold the SWIFT transfer documents.
The other monies, which “likely” make up from the unspent portion of the missing $27 trillion, may well constitute all that is recoverable.
Wanta, sole shareholder in Ameritrust, has offered his companies share, valued by the court now at $7.2 trillion, entirely to the American people as intended by President Reagan.
The origin of the additional funds, issued by the Federal Reserve during the 80s and 90s, totalling nearly $8 trillion is unknown. High ranking sources within the US government indicate that this can only be either the remainder of funds Wanta raised or profits made from them after the majority of funds were stolen.
Stories, some quite good actually, and personal interviews plus my own review of documents would place the theft or conversion of these funds initially with:
- The Bush family
- The “P2,” a Masonic lodge operating out of Switzerland involved in dozens of terror bombings tied to “Operation Gladio”
- People around Wanta himself including the CIA
What is lacking is a source for half of these funds. Technically, they don’t exist as there is no record of them being originated by nor transferred to the Federal Reserve Bank of New York though there are clear and discernible records of them being transferred out of that institution which never possessed them, according to their 2010 audit, in the first place.
The transfer of Wanta funds, they can be assumed to have no other origin as they track into the Federal Reserve banking system while in escrow and are currently awaiting payment based on the orders of President Obama in accordance with findings of the federal court, is complicated by the Scottish transfer.
Either Wanta has claim to the entire amount or it is the property of the US government. That no effort has been made to secure the funds or enforce criminal and civil remedies to recover enough money to pay the entire US national debt and more, as with earnings, we are nearing well over $30 trillion by this time, is an indication that a criminal conspiracy with enough influence to overrule our own government is involved. Whether that “conspiracy is, as noted, the Bush family, rouge sections of the CIA or a secret society such as P2, one we can prove or others we only suspect exist, is another story.
The lack of action, here or as requested by Lord James in Britain, is, in itself, proof of both the seriousness and actuality of these events and the powers that can prevent any inquiry when irrefutable documents such as SWIFT transfers are available.
In fact, Lord James has offered a wealth of documents which, when combined with the 2000 pages of Wanta “discovery” from the Federal Court, constitutes more than prima facia evidence of money laundering, conversion, terrorism or worse.
Thus, the inaction in the face of overwheming and unquestioned proof is inexplicable.
FLOOD OF WANTA LITIGATION AND INDICTMENTS COMING
Currently, Wanta’s legal status is as technical conservator and owner of $7.2 trillion. However, as nearly half that is owed in taxes and the court settlement required Wanta to purchase $1 trillion in treasury bonds, the federal government should show positive interest other than President Obama and a few others.
More are being obstructionist with the payout and exercise of $3 trillion in US debt reduction.
This is, not only illegal but an indication of conspiracy.
In addition, Russian Prime Minister Putin has communicated that he awaits the agreed upon 3% payment of Russian taxes, initially on the $7.2 trillion. Will Putin want to be paid on the entire $15 trillion plus interest and will Russia and/or the US have interest in why the Bank of Scotland transferred these funds to 20 European banks to trade in MTN’s (mid term notes) without any authorization or agreement, any participation or sharing of profits.
As the funds, at least the half which the US government can claim ownership of, combined with the interest and earnings of, would quickly put the US “in the black,” again we look at, not just the press blackout on the Wanta litigation of the last 6 years but the press blackout on Lord James of Blackheath and the wealth of damning documentation he submitted to Parliament.
Nothing has been done since, it is as though the proof submitted was so dangerous that those moments in time have been erased by a mysterious g-dlike power.
What makes Wanta dangerous is that he has begun to distribute funds, some to government entities, counties and states, law enforcement agencies, giving them standing, not just in recovering funds intended for their use but in helping prosecute anyone involved in interfering with or attempting to divert funds.
One grand jury is being formed to investigate diversion of Wanta funds even at this early date. It is likely that Wanta/Ameritrust funds earmarked for border protection could lead to the indictment of high ranking US officials. This is only the beginning.
If the Royal Bank of Scotland doesn’t think it should be expecting the biggest chargeback in the history of the world, they are in for a shock.