Alan Greenspan: There is Fraud in Banking System as it exists

Little or no enforcement in system allows for fraud among involved parties and that is a cause for instability.  However, no bankers have been held accountable for the massive derivatives, housing, stock and bond markets Ponzi Schemes.  The question is, where was Alan 10, 15 or 20 years ago, when the banksters and corrupt politicians did away with the checks and balances that would have avoided fraud?  That’s right, he was in bed with them!

About Luis Miranda
The Real Agenda is an independent publication. It does not take money from Corporations, Foundations or Non-Governmental Organizations. It provides news reports in three languages: English, Spanish and Portuguese to reach a larger group of readers. Our news are not guided by any ideological, political or religious interest, which allows us to keep our integrity towards the readers.

2 Responses to Alan Greenspan: There is Fraud in Banking System as it exists

  1. Marco Saba says:

    AUDIT the European Central Bank

    While the euro monetary rent – hundreds of billion euros each year – is being masked in the ECB balance sheet (in the liabilities side instead of the assets side), we ask for a long due independent AUDIT of the European Central Bank.

    Please, do sign the petition here:
    http://www.petitiononline.com/auditecb/petition.html

    A better way to account for fiat money at the Central Bank
    Thomas (Cool) Colignatus, December 31 2005
    http://leconomistamascherato.blogspot.com/2009/11/better-way-to-account-for-fiat-money-at.html

    The EU seigniorage ticking time BOMB:
    OLAF POLICE CAN’T INVESTIGATE THE ECB EURO-SEIGNIORAGE SCANDAL http://riflessioni-backbone.blogspot.com/2009/11/eu-seigniorage-ticking-time-bomb-eu-la.html

    The case for auditing the ECB: seigniorage fraud on banknotes
    http://leconomistamascherato.blogspot.com/2010/03/case-for-auditing-ecb-seigniorage-fraud.html

    THE ‘FAKE LIABILITIES’ SCANDAL

    “The solvency constraint of the Central Bank only requires that the present discounted value of its net non-monetary liabilities be non-positive in the long run. Its monetary liabilities are liabilities only in name, as they are irredeemable: the holder of base money cannot insist at any time on the redemption of a given amount of base money into anything else other than the same amount of itself (base money).”
    From Willem H. Buiter (London School of Economics) at page 20:
    “Seigniorage”, economics – The Open-Access, Open-Assessment E-Journal, 2007-10
    http://www.economics-ejournal.org/economics/journalarticles/2007-10

    AUDIT THE ECB ON FACEBOOK:
    http://www.causes.com/causes/366875?recruiter_id=88643505