Posts Tagged ‘Warren Buffett’

When researching INTERNATIONAL BANKSTER$: The Global Banking Elite Exposed and the Case for Restructuring Capitalism – Book #5 in our Underground Knowledge Series – the following comment by American business magnate Warren Buffet got us thinking: “If a graduating MBA student were to ask me, ‘How do I get rich in a hurry?’ I would not respond with quotations from Ben Franklin or Horatio Alger, but would instead hold my nose with one hand and point with the other toward Wall Street.”

Now when the man recognized as the world’s most successful investor speaks, you gotta take note, right? So we did, and we included our own critique of Wall Street bankers in INTERNATIONAL BANKSTER$, in a chapter somewhat appropriately titled ‘Banksters on the rampage.’

An excerpt from the chapter follows:

In an article dated November 23, 2014 in USA Today, columnist John Maxfield predicts “There will come a time in the not-too-distant future when Wall Street banks won’t be regularly chastised for ripping off customers, defrauding the federal and state governments, facilitating tax evasion, laundering money for sworn enemies of the United States, and manipulating bond, interest rate, foreign-exchange, and energy markets. When this time comes, however, it shouldn’t be interpreted as a sign that things have changed”.

Maxfield says, “Between 2012 and 2013, eight banks – UBS, The Royal Bank of Scotland, Rabobank, Deutsche Bank, Societe Generale, Barclays, JPMorgan Chase, and Citigroup – paid $6 billion to settle allegations that they manipulated the London interbank offered rate benchmark, one of the most widely tracked interest rate indexes in the world”.

Among the examples he lists, from 2013, is a combined US$9.3 billion payment from “more than a dozen banks… to make amends for systematically submitting fraudulent documents to courts in foreclosure proceedings”.

Maxfield says, “Thus, the question is whether these practices are indeed isolated incidences of employee misconduct, as the banks would like us to believe, or instead whether they’re indicative of a pattern of behavior that’s endemic on Wall Street. I suspect it’s the latter”.

He concludes, “Of course, it’s impossible to forensically prove that corruption is woven into the fabric of Wall Street banks – and, specifically, at companies with significant trading operations where the temptation to skirt the rules seems to be greatest. That’s certainly what history suggests. And it’s also what the ongoing regulatory assault on the industry implies. But, again, there is no way to quantitatively demonstrate this.

“But what we can say is that there is a noxious air of impropriety that has enveloped these operations. And, rightly or wrongly, this reputational baggage subjects shareholders of these banks to more risk than, at least in my opinion, is warranted by any reasonable estimate of future returns”.

As Maxfield implies, the major Wall Street banks seem to have fraudulent activities down to a science and it’s often virtually impossible to detect the sleight of hand in their activities.

TBC

 

You have been reading an excerpt from INTERNATIONAL BANKSTER$.

INTERNATIONAL BANKSTER$: The Global Banking Elite Exposed and the Case for Restructuring Capitalism (The Underground Knowledge Series Book 5)

This book is available exclusively via Amazon: http://www.amazon.com/INTERNATIONAL-BANKSTER-Restructuring-Capitalism-Underground-ebook/dp/B015QN5RTY/  

 

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Do you believe the likes of Bill Gates & Warren Buffett are the richest people in the world as per the annual Forbes Rich Lists? Or do you believe there is a hidden world of ‘black money’ involving elite individuals with undeclared fortunes that would dwarf those earned by the likes of Gates & Buffett?

That’s the question we’ve put to members of our Underground Knowledge discussion group in our latest poll on Goodreads.com – and so far 79% say they believe there are individuals with fortunes greater than those listed at the top of Forbes Rich Lists.

Only 9% of poll respondents indicate they believe the estimates on the Forbes Rich Lists are roughly correct while 12% are unsure.

A random sample of respondents’ comments follow:

We are living in an illusion after the Riemann shock. The paper money has no meaning now except for our common life in the world. In fact, the present world economy is in the bankrupt state and this evidence has been concealed from our public eyes. Hence Forbes rich list has no meaning but most of us believe that it is true. Maybe great catastrophe of economy will be happened in the near future. How can we survive in this great catastophe?

Not a case of “i believe there are people more wealthy””, i know there are people far more wealthy!!

I suspect Putin may be the richest person in the world. Yet he is not on any list.

The wealth of the Rothschild family is beyond comprehension or valuation!!

In our modern society, scientists invented a monster called financial engineering. It makes the total debt of our society to reach to an unimaginable level. No one in the world knows what is its total amount. Now we are living on the verge of money crisis. Even the wealth of Rothchild family or Royal family cannnot stop this catastrophe.

Lets put it this way, if they all donated just 1% of their money to alleviating poverty, hunger and disease around the world, there would not be children dying every few minutes of malnutrition, water borne diseases, malaria and multiple other reasons. One has only to wonder, “do they want them to die, or are they just so insular and ignorant, that they just don’t care?”

There are others, more secretive, whose financial empires are bigger than the Rothschilds (in my humble opinion). The world of ‘black money’ is like an onion or a Russian doll where you keep peeling back the layers of wealth and each layer is more and more hidden with greater and greater wealth…

Poll ends August 8. To view all the comments, or better still to have YOUR say, go to: https://www.goodreads.com/poll/list/142309-underground-knowledge—a-discussion-group?type=group

While you’re at it, check out the results of our other polls, too.

These include:

Do you believe World Trade Center 7 (aka Building 7), which no plane hit on 9/11, collapsed solely due to fires as per the official story?

Do you believe A.I. (artificial intelligence) will ever be more advanced/sophisticated than human intelligence?

Do you believe Princess Diana was murdered?

Do you believe Capitalism should be restructured, replaced by another economic system or left exactly as is?

Do you believe classified mind control technologies are being used by governments on innocent citizens?

Do you believe time travel is possible?

Do you believe genius-level intelligence is primarily the result of nature (genes) or nurture (education, environment, parenting etc)?

Do you believe Jesus Christ was a real historical person?

Do you believe Robert (Bobby) F. Kennedy (RFK) was solely killed by the “lone gunman” Sirhan Sirhan?

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Our Underground Knowledge discussion group is aimed at those with an interest in the world we live in and a desire to learn or to uncover “underground knowledge” on important issues of our times.

Everyone’s welcome to join! All you need is an enquiring mind and a desire to learn. Our members include scientists, social activists, teachers, historians, authors, former military and intelligence agency personnel, bankers, housewives, whistleblowers, students, former police officers, journalists, readers and many more.

Visit the Underground Knowledge discussion group at: https://www.goodreads.com/group/show/142309-underground-knowledge—a-discussion-group

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It has been purported by financial researchers and alternative media outlets that there are individuals whose net worth would dwarf whoever tops the Forbes Rich List at any given time – net worth the likes of Bill Gates, Warren Buffett or Carlos Slim Helu could only dream about.

This may be hard to fathom, but it’s important to consider two points when analyzing the finances of the global elite.

Firstly, without being able to inspect the bank accounts of billionaires, Forbes and similar Rich List publishers can only make crude guesstimates of individuals’ true worth. As a result, their lists are anything but official and their accuracy is questionable – something the billionaire community is quick to point out.

Secondly, beyond those individuals and sums mentioned on the Rich Lists, there exists what is often referred to as invisible or hidden wealth. This involves non-disclosed fortunes that are virtually impossible to detect.

We examine this in some detail in our book THE ORPHAN CONSPIRACIES: 29 Conspiracy Theories from The Orphan Trilogy.

Here’s an exceprt from the book:

The planet’s invisible wealth is comprised of undeclared income stashed away in offshore tax havens and Swiss bank accounts, secret Old World money and black market economies in which criminal enterprises conduct their business.

The criminal enterprises referred to include illegal drugs and arms dealing. One such arms dealer is Saudi Arabian Adnan Khashoggi who some banking and financial commentators estimate had a massive personal fortune of between US$2 trillion and US$7 trillion in the 1980’s.

However, the world is still waiting for its first official trillionaire, and Khashoggi’s fortune was only ever estimated by Forbes and the likes to be worth between $400 million and several billion. If the rumors of Khashoggi’s multi-trillion dollar personal fortune were true then there’s an extremely wide gulf separating unofficial and official estimates of his wealth.

The 2005 feature film Lord of War, directed by Andrew Niccol and starring Nicolas Cage and Ethan Hawke, is said to have been inspired by Russian arms dealer Viktor Bout. Like Khashoggi, Bout is rumored to have amassed a huge personal fortune impossible to estimate. Cage’s character, a Ukranian-American arms dealer, is shown in the movie to be above the law with apparently unlimited money and resources.

Primary image for Lord of War

Blockbuster inspired by another wealthy arms dealer.

Former Philippine President Ferdinand Marcos is another individual strongly rumored to have profited from the black market. As mentioned in chapter 6, many who have investigated Marcos, including politicians in the current Philippine government, say much of his wealth was secured from discoveries of Yamashita’s Gold. As the existence of those treasures was never acknowledged by any government, it’s conceivable President Marcos could have amassed a large fortune impossible to trace or estimate. Some investigators say his secret bank accounts amounted to trillions of dollars.

Ferdinand E. Marcos

Ferdinand Marcos…worth trillions of dollars?

If this sounds totally unbelievable, consider the television interview Imelda Marcos gave in 2009 for the BBC TV travel series Explore. While being filmed inside her lavish home in the Philippines, Imelda told BBC presenter Simon Reeve that her late husband was heavily associated with gold mining companies and also traded in gold.

First Lady of glam: Mrs Marcos was a beautiful woman who always looked glamorous

Imelda Marcos…happy to spill the beans.

The former First Lady then presented Reeve with an official document. Although she would not allow the document itself to be filmed, Reeve confirmed it was a Certificate of Deposit made by Ferdinand E. Marcos in a bank in Brussels, Belgium, for the amount of Nine Hundred and Eighty Seven Billion United States Dollars. For those who don’t have a good math brain, that’s only 13 billion short of a trillion bucks.

If true, this sum in Marcos’ Belgium bank account alone would be almost 13 times more than Bill Gates’ total current fortune. The legacy of the former president becomes even more staggering when considering that this was just one of his bank accounts; the Philippine government has confirmed through investigations of its own that Marcos had many such secret accounts in banks all over the world.

Sticking with the idea that there are individuals worth far more than the names topping official rich lists, some say Queen Elizabeth II is one of the wealthiest people, if not the wealthiest, in the world. In our spy thriller The Orphan Factory we run with this theory by referring to secret Royal assets and undeclared income of unimaginable proportions.

Read more in The Orphan Conspiracies: 29 Conspiracy Theories from The Orphan Trilogy – available now via Amazon at: http://www.amazon.com/The-Orphan-Conspiracies-Conspiracy-Theories-ebook/dp/B00J4MPFT6/

A book that’s for the common people.

 

Happy reading! –James & Lance

 

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