Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Big Black Swan who wrote (16775)	1/28/2009 4:34:06 AM
From: axial	1 Recommendation Read Replies (2) \| Respond to of 71447

Good post. For some reason, nobody pays much attention to this aspect of current problems. Back in the 90's we saw bankers accommodating narcomoney by setting up offshore conduits, so that massive sums of money could be quickly and cleanly laundered and recirculated into the "real" economy. Big banks were quick to get into the game. There was spectacular growth in the amount of money being channeled through offshore counduits and havens. The term *"shadow banking system"* had a darker meaning then. There was controversy, and a lot of investigation; then, it all stopped. We were told that offshore havens were being "cleaned up" - that they were legitimate. That was the "story" and the reason behind this post: Message 25045430 The profits that could be made by a hedge funds using $75 billion in geared money make Madoff's little scam look like penny-ante stuff. Nobody's asking where the seed money came from, or where it went. This is way better than shaking down shop owners for pizzo. These days, we see a lot of public officials being blamed, and some pretty wild conspiracy theories. The big swingin' dicks on Wall Street, traders and bankers alike, were the same kind of people heard laughing, on Enron transcripts as they drove California into near-bankruptcy. Guess what? They didn't all go to jail; many of the traders went to work on Wall Street. There's an obvious source for some of the wrongdoing in markets that no one is talking about. It's the syndicates, whose money has bled back into the system, corrupting as it moves. Supposedly, "dumb" bankers, public officials and traders are responsible for many of the scams. Were they that dumb? Were they prime movers, or accomplices? Curious silence on the subject, everywhere. Except for some poor, honest UN official. Probably they haven't got to him yet. Jim