Record $5.7bn Fines For 5 of World's Largest Banks.

First Federal Reserve Audit Reveals Trillions in Secret Bailouts
source: goo.gl...

Bailout Total: $29.616 Trillion Dollars
source: goo.gl...


Pyramid Scheme
source: en.wikipedia.org...

a reply to: crazyewok

It's not as easy as many think, most of the transactions from silk road are still being traced, discovered and the persons accountable. Kim Dotcom knows about this as well, and is why he is begging for money instead of " mixing " it. Also the two federal agents who got into trouble for laundered bitcoin from a bust.

The blockchain doesn't lie, and with enough fingers in the right places, information can be traced and isolated. They also have darkcoin, darkwallet and whatever other coin they think can hide their actions, but it goes to say, if you're online, you're not hidden, hidden behind this or that, you're still online, and therefor it's a time game, not an if game.

They caught many who thought they were safe from TOR itself, it's like walking into a club in NYC that is the only one around that allows underage drinking, only to get into trouble from the popularity of the club for the underage drinking.

Yes more new tricks will emerge to try and claim your anonymity, however that's a growing joke, just like thinking your system is unhackable.

a reply to: Revolution9

What difference does it make...all the fines will go to the same people being fined....they just want everyone to THINK someone is being punished....it is all a MAGIC trick....take it from one place and put it some place else.

a reply to: Revolution9

So they are fined 5 . but they probably made 100. And u call this justice ?

a reply to: Revolution9

That is a drop in the ocean. 50 billion would be more appropriate.

originally posted by: Tranceopticalinclined
a reply to: crazyewok

It's not as easy as many think, most of the transactions from silk road are still being traced, discovered and the persons accountable. Kim Dotcom knows about this as well, and is why he is begging for money instead of " mixing " it. Also the two federal agents who got into trouble for laundered bitcoin from a bust.
[snip]



Yes more new tricks will emerge to try and claim your anonymity, however that's a growing joke, just like thinking your system is unhackable.

That is not correct. There are ways to use Bitcoin without being traced. The Silk Road went down largely due to blind luck, the arrogance of Ross Ulbricht and a bit of old fashion police work. I also do not think you grasp how TOR truly works. It is just another level security and if used properly can still work along with several other security measures.

The Untold Story of Silk Road; Part 2, The Fall

His investigation had started entirely at his desk with virtual gumshoe diligence, poking around Tor’s IP publishing protocol and spending time on Silk Road looking for chatter about the site’s security. His lucky break came from a thread on Reddit: A user posted a warning that Silk Road’s IP address was “leaking”—visible to other computers. Dread Pirate Roberts (or DPR, as he was often called) had been alerted to the problem by a user but ignored the warning. Silk Road’s success was making DPR arrogant. He had let down his guard, confidently telling colleagues that the site would never be found.

That said, I still think our financial system is rigged. I doubt these fines will change anything, and the conspiracy theorists in me wants to believe these fines are just smoke and mirrors to give the illusion that something is being done about the big banks committing fraud.

[

So basically, the government is 5.7 billion less in debt to the federal reserve... Lol.

originally posted by: Jonjonj
Where does the money from the fines go? Serious question, I don't know the answer.

Cajun Economics

It’s a slow day in Mamou, Louisiana. The sun is beating down and
the streets are deserted. Times are tough, everybody is in debt,
and everybody lives on credit.

On this particular day a traveling Shreveport salesman is driving
through town. He stops at the Hotel Cazan and lays a $100 bill on
the desk, saying he wants to inspect the rooms upstairs in order
to pick one in which to spend the night.

As soon as the man walks upstairs, Bosco, the owner, grabs the
bill and runs next door to pay his debt to Boudreaux the butcher.

Boudreaux takes the $100 and runs down the street to retire his
debt to Trosclair the pig farmer.

Trosclair takes the $100 and heads off to pay his bill at T-Boy’s
Farmers Co-op, the local supplier of feed and fuel.

T-Boy, at the Farmer’s Co-op, takes the $100 and runs to pay his
debt to the local prostitute, Clarise, who has also been facing hard
times and has had to offer her services on credit.

Clarise rushes to the hotel and pays off her room bill with Bosco,
the hotel owner.

Bosco then places the $100 back on the counter so the travelling
salesman will not suspect anything.

At that moment the salesman comes down the stairs, picks up the
$100 bill, states that the rooms are not satisfactory, pockets the
money, and leaves town.

The whole town is now out of debt. However, no one produced
anything... no one earned anything...and no one has anything left.

A Lot of "people" have lost a Lot of money.
do you SEE any of them getting any back? not a chance.
the government just gets their back hander.
witch I bet they get Any way!
and they should pay back ALL the money!
PUT THEM IN JAIL!

a reply to: queenofswords

I know of this idea, but it is just a debt circle where all debtors are dependent on each other.

You can take the salesman out of the equation entirely and the hotel owner simply starts the whole cycle with 100 dollars of his own.

originally posted by: Zcustosmorum
a reply to: Revolution9

Bullsh*t, no jail time means no message is being sent, and ofc the reason no-one is being jailed is because this corruption goes right to the top.

And does anyone ever wonder, where exactly does this fine money go?

Have to agree it's BS. The fines do not effect the people that actually perpetrated these crimes. The fines come from the stockholders in these banks which means "the people" are paying them. Oh yeah I'm sure the criminals have shares too, but their profits far outweigh their dividend losses.

originally posted by: Jonjonj
a reply to: queenofswords

I know of this idea, but it is just a debt circle where all debtors are dependent on each other.

You can take the salesman out of the equation entirely and the hotel owner simply starts the whole cycle with 100 dollars of his own.

That's true. I thought the story rather cute though. In the story, the hotel owner never knows the circle that formed. I wonder if, in the case of the banks, they are in cahoots with the circle of debtors.

So...the question remains: Who really receives the money from this "fine", and where does it go from there....round and round the circle.

a reply to: queenofswords

Yes, there used to be a saying, if you want to find out who is responsible, chase the money.
That doesn't work anymore does it?

6 billion? I'm sure Greece will be smashing their china in the streets....

This headline is more of an insult than placation. 6 billion? What does that equate? A half day's profit? This is measurable to the mockery of $100 stimulus checks embraced by US citizens who've been garnished of reservoir and lodge behest the real estate bubble tomfoolery. This sounds more like some political muse seeks a tributary loan from named entities, to one of their many vaporous charities.

Go tell them that "corporations are people", and motion the firing squad to foot. They're still soliciting their goto charades, ad nauseum. This drivel will enamor nil. They may as well reestablish the practice of blessing the indigenous with influenza-gorged tokens of charity via plague doctor.

a reply to: Revolution9

5 billion between all of them is a drop in the bucket compared to what they made. Typical story of white collar criminals not going to jail, or if they do its minimal time like 2-5. The Govt makes their money and the banks continue to do shady crap raking in their stolen loot.

Happens all the time and this is why I belong to a credit union. Stop using these big banks who steal and launder for criminals and terrorists. Seriously.

a reply to: real_one

...All I see are fines, no criminal investigations that will lead to jail time. If you or I were to pull this crap we would be doing some serious time.

Wanna tell us how you would jail a corporation?

To big to fail, too big to exist. The banks need broken up, they wield way to much power, control and influence.

Source / Video

Under the Sanders proposal, regulators on the existing Financial Stability Oversight Council would compile a list of institutions that are 'too big to fail' and implicitly rely on government support during a crisis.

"If an institution is too big to fail, it is too big to exist," Sanders said in a statement.

Within a year of enactment of the bill, the Treasury secretary would be required to break up these firms. They would also be prohibited from using any customer funds for risky or speculative activities on financial markets.

originally posted by: soficrow
a reply to: real_one

...All I see are fines, no criminal investigations that will lead to jail time. If you or I were to pull this crap we would be doing some serious time.

Wanna tell us how you would jail a corporation?

My pleasure. Gather up all management, starting with the executives, and hand them a shovel to start digging a hole they'll affectionately call "home".

If corporations are people... Why aren't the CEO's, CFO's, and others going to prison for their felony offences?

originally posted by: Gothmog
a reply to: Revolution9
Finally a US Justice department that does something right instead of non-caring or the exact opposite.

Sadly, the truth of the situation is that the US government has known all along the banks are doing this. This investigation and the associated fines are just how the criminal government takes it's share of the haul from the criminal banks while tricking the citizens into thinking they are hard at work doling out justice.....