Earthlinggb's Blog

Santander (Madoff Ponzi Scheme) Banking criminals

Posted in Finance, The Corrupt SOB's by earthling on November 28, 2013


Spanish Jesuit Criminal 1: Emilio Botin

I have just found the following minutes of evidence wherein Horta- Osorio of Santander (now Lloyds) is questioned on the Bernie Madoff ponzi scheme. I think the reader will recognise the questioning is certainly that of a Treasury who smell one big rat – a Spanish Jesuit one!

I think, then, for anyone to consider the following previous blogposts a “stretch” in any way, would be closing one’s eyes to what is now set out before you.

Santander’s role in the Bernie Madoff ponzi scheme was immense and yet it is being suppressed.

Santander is a criminal enterprise!

Please cross reference with the following two blogposts:

santander-a-banking-giant-out-of-the-blue

and

bank-worker-stephanie-bon-and-the-4000hr-jesuit

Spanish Jesuit Criminal 2: Ana Patricia Botin

Spanish Jesuit Criminal 3: Horta-Osario

UK TREASURY MINUTES OF EVIDENCE 11th FEBRUARY 2009.

Q2053  Mr Breed: António, could we talk about what may be referred to as “the Madoff affair” and Santander’s investments? I think some of us are quite surprised, bearing in mind the history of your bank and the good acquisitions you have made and perhaps good investment decisions. What did you do in terms of due diligence on Madoff before you put quite substantial amounts of customers’ funds into it?

Mr Horta-Osório: We are as you know a bank which is very prudent in terms of risk management and controls. In order for you to be aggressive commercially, you should have certain areas such as risk management, auditing, control and compliance as very strong areas.

Q2054  Mr Breed: What happened with Madoff?

Mr Horta-Osório: It is in our opinion absolutely impossible to stop all frauds. This, as you know, is a fraud that was very wide, of very high dimensions, supervised by the SEC and the company and the person involved previously had a very high reputation.

Q2055  Mr Breed: As a very minimum, most people would have looked at the auditing arrangements. The auditing arrangements in terms of Madoff consisted of a 78 year old man living in Florida, one qualified accountant and a secretary. What sort of due diligence did you do on that?

Mr Horta-Osório: It is easier to say that with hindsight.

Q2056  Mr Breed: Absolutely, but why did you not do it?

Mr Horta-Osório: We have strong due diligence processes. We are absolutely convinced we followed them as we normally do and, as you know, we decided to compensate all of our private clients as a commercial decision.

Q2057  Chairman: I do not think we are going to get a sorry out of you today, are we? I looked at the congressional hearings and there was a man called Harry Marcopolis who reported this from 2000 to 2008 to the Securities Exchange Commission in the United States. If you look on YouTube, you will see his evidence. I looked at it. He said, “The Key Tip-Off. It took me five minutes to figure out he was a fraud. I basically read his strategy description and knew that that was not the source of his returns. Then I knew right away by looking at his performance chart.” He made an illustration to the Committee and he said, “His performance chart was a 45 degree angle without any variation. It only went in one direction: up. It never had any variation like the market does.” That was a key tip-off. If it took Harry Marcopolis five minutes, why did a credible bank like Banco Santander get duffed up on it? Why did you lose 2 billion euros on it? I put it to you that your due diligence was absolutely and utterly duff.

Mr Horta-Osório: Banco Santander did not lose two billion euros. Santander had a small amount invested in those funds.

Q2058  Chairman: How much did you lose?

Mr Horta-Osório: We lost 20 million euros.

Q2059  Chairman: That is still quite considerable for people.

Mr Horta-Osório: According to the total size of the bank and the total fraud which was $50 billion, that is a very small amount. Within our total asset management we had a significant amount of money and a small percentage of our customers who invested in these funds. We are absolutely convinced, as we have already said publicly, that we followed the due diligence procedure, as did many other banks around the world but despite that we have decided to compensate our private customers. On top of this, because we are in the UK, I would like to add that we have no UK clients at Abbey who invested in those funds.

Q2060  Chairman: It is not that I want to fall out with you but I do not believe you in terms of how the bank went about its structure because, again, Harry Marcopolis says, “What I saw and when I saw it. I was repeatedly ignored after an eight and a half year period between May 2000 and December 2008. Detailed, repeated warnings to the SEC.” That was when it could only have been a $3 billion fraud which ended up with a $50 billion fraud. When you get a one man accounting team who was a college friend of Madoff and he has two of his family in auditing, surely to goodness, with a big company, you should have exercised sufficient due diligence?

Mr Horta-Osório: I sympathise with your comments, but if it had taken five minutes for anyone probably it would have taken five minutes for the SEC as well, which supervised those funds.

Q2061  Chairman: The SEC did not take him on, because your man was the chief executive of NASDAQ and it was the old boys’ club. When you are investing other people’s money, you should have adequate due diligence. That is the point I am trying to make to you.

Mr Horta-Osório: Yes, and I agree with you. On top of that, we have offered to reimburse those customers.

SANTANDER: A Banking giant, out of the blue?

Posted in Finance, The Corrupt SOB's by earthling on November 28, 2013

While I condemn violence and crime of any nature, there is a time when one must step back and ask the simple question: WHO are the real criminals? WHO is it that brings people to the point of violence? Could it be people who regard themselves and are regarded by others a “Pillars of Society”? Similarly, the question is raised in regard to Palestinians and the conditions which they live under and why they feel so helpless against a “machine” such as the Israeli regime and military, to wish to “punch back” in any way they can – sometimes suicidally.

One simply must look closer at these people who, while they believe they are better  – and some even state “We do God’s work” – cause sheer desperation to many due to their CORRUPT TO THE CORE activities. Can I be too condemning of this protestor then? No. I can’t. It is a 21st Century version of Jesus casting the money changers from the temple. I’m no religious person but I can say he was right 100%. But Jesus had power, this one man doesn’t. Educate the rest of the population on how it all works and, together, they would have power and need not use it violently.

I’ve been wondering how Santander is suddenly THE bank and how it suddenly came from a second division Spanish Bank background to a World force in such a short time. So I had a wee delve and came up with a few things to think about….

PLEASE ALSO BEAR IN MIND WHILE READING THE FOLLOWING THAT SANTANDER IS PART OF THE ROTHSCHILD INTER-ALPHA BANKING GROUP!

From the Guardian:  madoff-santander-shares

New Black Pope:

0,8599,1700157,00.html

“So? What’s your point now? One minute you’re up against the “jews” and the next it is the Roman Catholic church?? ”

Well the point is this:

The Jesuit Order as a Synagogue of Jews: Jesuits of Jewish Ancestry and Purity-of-Blood Laws in the Early Society of Jesus (Leiden: Brill Academic Publishers, 2009) has led me to another remarkable element in the development of Jesuit casuistry. That is the early and important role of IBERIAN (Spanish) conversos (as Christians of JEWISH ancestry were called) in the development of the Society of Jesus, and its methodology. The evolution of sixteenth century Iberian societies contributed notably to the size and importance of the converso presence in the Jesuit order. At a time when Iberian conversos were increasingly excluded from a growing number of guilds, religious confraternities, colleges, religious and military orders, as well as residence in certain towns, the Jesuit leadership in the first three decades of the order’s history (1540-1572) opened their doors wide to candidates of Jewish descent.

Now, I’ll throw another little fish….

Santander. Where the hell did they appear from all of a sudden? Well consider this:

Emilio Botín (born 1 October 1934) is a Spanish banker. He is the Executive Chairman of Spain’s Grupo Santander. In 1993 his bank absorbed Banco Español de Crédito (Banesto), and in 1999 it merged with Banco Central Hispano creating Banco Santander Central Hispano (BSCH), which became Spain’s largest bank, of which he was co-president with Central Hispano’s José María Amusategui, until Amusategui retired in 2002. In 2004, BSCH acquired the British bank Abbey National, making BSCH the second largest bank in Europe by market capitalisation.

Keep reading…..

After attending as a boarding student the JESUIT SCHOOL of Colegio de la Inmaculada, in Gijón, he studied Law at the University of Valladolid in Valladolid and Economics at the University of Deusto in Bilbao.

A JESUIT school of all things!!

Botín was no newcomer to the banking world. His father, grandfather and great-grandfather were all bankers.

On 25 April 2008, two people died in a plane crash south of Madrid at a property belonging to Emilio Botin. Neither was a member of the banking family. The light aircraft, which was attempting to land at an airstrip on the Botin property known as El Castano, was transporting 441 pounds of hashish.

Nice huh? 🙂 But continue……

1999: Botin faced trial on criminal charges of “misappropriation of funds” and “irresponsible management.” However, in April, 2005 he was cleared of all charges.

2005: the anti-corruption division of the Spanish public prosecutor’s office cleared Botin of all charges in a separate case in which he was accused of insider trading.

January 2006: a Santander, Spain court dismissed a lawsuit stemming from the cancellation of agreements reached by the SCH board in 2004.

November, 2006: Botin was brought to trial along with four other company directors for allegedly falsifying official documents and helping clients evade taxes. Spanish press sources reported that although Botin was accused of crimes against the state, the public prosecutor resisted bringing the case to trial. Private prosecution was brought by a prominent shareholder rights group, the Association for the Defense of the Investor and Clients (ADIC), which claimed that the charges against him constituted the “biggest fraud ever committed in Spain.” Botin evaded serving a jail sentence after the case was dismissed, and an appellate court rejected an appeal brought by ADIC.

Most recently Botin’s name has been in the news because of allegations that in 1999, at the time of the BCH merger, he bribed Spain’s economy minister, Rodrigo Rato, in order to seek favor with government officials. Botin and Rato, alongside a group of former associates have been accused of engineering a deal in which Banesto, a Santander subsidiary currently controlled by Botin’s daughter Ana Patricia Botin, purchased a €6M stake in a bankrupt water utility owned by the Rato family. Rato, Botin, and Alfredo Saenz, who was then serving as Banesto’s CEO, are accused of misappropriating funds, breach of fiduciary duty, falsifying documents, and bribery. The case is ongoing.

Now, Rodrigo Rato:

He was appointed to become the Managing Director of the International Monetary Fund (IMF) on 4 May 2004, and took up his duties on 7 June 2004. He has left his post at the IMF on 31 October 2007, following the World Bank-IMF Annual Meetings.

De Rato attended a JESUIT school before studying law in the Complutense University. So BOTIN and RATO BOTH Jesuits!!

Mr. Rodrigo Rato was the Spanish President’s Minister of Economy, who is responsible for the dismantling of the Spanish welfare state.

Mr. Rato is of the ultra-right . While in Aznar’s cabinet, he supported such policies as making religion a compulsory subject in secondary schools, requiring more hours of schooling in religion than in mathematics, undoing the progressivity in the internal revenue code, funding the Foundation dedicated to the promotion of francoism (i.e., Spanish fascism), never condemning the fascist dictatorship, and so on. In the economic arena, he dramatically reduced public social expenditures as a way of eliminating the public deficit of the Spanish government, and was the person responsible for developing the most austere social budget of all the governments of the European Community.

Gordon Brown, became Rato’s main advocate for the IMF position. Nowhere mentioned is the enormous costs this “success” has had on the quality of life of average folks in Spain. And these are the same policies that Mr. Rato is going to follow in the IMF, policies that have caused enormous pain and harm to the Spanish people, and will now be implemented world-wide. Nowhere, however, have the mainstream media reported on such important dimensions of Mr. Rato’s tenure as Minister of Economy of Spain. Quite remarkable!

Read more of what Rato did to Spain:
navarro06162004.html

Rato has since joined the Santander Advisory Board as requested by Botin.

But then we also have this:

The MADOFF PONZI SCHEME!

Dec. 14 (Bloomberg) — Banco Santander SA, Spain’s largest bank, said clients had positions valued at 2.33 billion euros ($3.1 billion) invested with Bernard Madoff.

$3.1 BILLION!!

The largest of ALL banks’ exposure to Madoff. BUT…..
Santander had only 17 million euros of its own funds invested through another fund. The $3.1BILLION was CLIENT exposure!

“Mr. Picard’s own investigation concluded that Optimal had no knowledge of fraud by Mr. Madoff, according to documents filed Tuesday in U.S. bankruptcy court in Manhattan.”

“Optimal’s (Santander’s Geneva based Hedge fund) relationship with Mr. Madoff dated back more than a decade, Tuesday’s court papers say. Some 70% of its affected clients are in Latin America, according to people familiar with the situation. Many of the clients also control firms with which Santander has a relationship.”

SB124334966968554601.html

“Much smaller enterprises feeding to Mr. Madoff include those run by two relatives of Santander Chairman Emilio Botín — his son Javier Botín-Sanz and son-in-law Guillermo Morenés.”

Spain’s anticorruption prosecutor will be looking closely at the relationship between Santander, the investment fund Fairfield Greenwich Group, and the Madoff funds, the prosecutor’s office said.
Investigators said they want to know why Mr. Botín sent one of his chief lieutenants to see Mr. Madoff in New York just weeks before the scheme collapsed. Rodrigo Echenique, who has been close to Mr. Botín for many years, visited Mr. Madoff in his New York office at the end of November. Investigators say they want to know whether Santander was aware of any problems at Mr. Madoff’s firm then. Santander declined to comment on the trip or make Mr. Botín available for comment.

Mr. Echenique also declined to comment on the trip.
Investigators say they also are focusing on the role of Fairfield partner Andres Piedrahita, a Colombian who lives in Madrid. He funneled client money into the Madoff funds, and according to marketing materials he also managed at least one other fund on Santander’s behalf that had losses from Mr. Madoff’s alleged fraud.
Mr. Piedrahita and Fairfield declined to comment.”

WSJ%20-%20Giant%20Bank%20in%20Probe%20Over%20Ties%20to%20Madoff.pdf

And where did the $billions actually go? No-one knows to this day it seems….

almost_since_the_news_broke.php

Using the connections of secretive Opus Dei, begun under Franco’s regime, Emilio Botin of Banco Santander co-ordinates with the President of the Vatican bank (Angelo Caloia), an alleged member of Opus Dei, which is not accountable to the Holy See of the College of Cardinals, though it is on Vatican City soil. In Puerto Rico, Botin’s Banco Santander Overseas Bank launders money for the foreign corporation Internal Revenue Service, headed by Opus Dei member Manuel Diaz Saldana, who is also Comptroller of the Commonwealth of Puerto Rico (ELA). Secretive Governor-Elect Luis Fortuno, and Ex-Governor Rafael Hernandez Colon, are also members of Opus Dei. Richard Carrion, head of Popular Holdings, is also on the board of David Rockefeller’s JP Morgan Chase controlled Verizon, and also launders IRS collections and illegal drug profits through offshore accounts. Botin’s Banco Santander has swallowed the assets of many UK banks for pennies on the dollar, leaving the billions in liabilities to UK taxpayers.

Now, the Vatican Bank is said to be a successful and profitable bank. By the 1990s, the Bank had invested somewhere over US$10 billion in foreign companies. In 1968 Vatican authorities hired Michele Sindona as a financial advisor, despite Sindona’s questionable past. It was Sindona who was chiefly responsible for the massive influx of money when he began laundering the Gambino crime family’s heroin monies (taking a 50% cut) through a shell corporation “Mabusi”. This laundering was accomplished with the help of another banker, Roberto Calvi, who managed the Banco Ambrosiano. Both Calvi and Sindona were members of the P2 Lodge. (Henry Kissinger is alleged to be P2)
When Pope John Paul I became Pope in 1978 he was informed about the allegations of wrongdoing at the Vatican Bank, and instructed Jean-Marie Villot, Cardinal Secretary of State and head of the papal Curia, to investigate the matter thoroughly. Pope John Paul I died after only 33 days in office, leading to claims that he had been murdered as a result of discovering a scandal. Pope John Paul I is generally accepted to have died from natural causes, although some medical experts believe that he may have died from a pulmonary embolism or an adverse reaction to the medication that he was taking rather than from a heart attack as was stated in original press reports of his death.

More on the Vatican Bank…

showdoc.php?org_id=843&doc_id=1821

But would you believe…..?

The Vatican Bank is under investigation for alleged involvement in a money-laundering scheme using accounts at one of Italy’s largest banks, according to a weekly investigative magazine.

article6946507.ece

Strangely, the money laundering is in the same timescale as Madoff’s Ponzi scheme run by Santander.

And lastly, just for good measure:

Bilderberg Group –
Ana Patricia Botin, Executive Chairman, Banesto; Vice Chairman, Urbis; Member of the Management Committee, Santander Group, Madrid

Emilio’s daughter.

Now, forgive me if I’m just stretching here but something smells here. Sure Madoff was a criminal – they all are. BUT, as we know, the criminals never get touched. They get off. MADOFF seems to be a scapegoat in my view.
Look at how many times Botin just walks away from any charges. Then look at how he’s had Rato (Spanish Government and IMF) in his pocket. They’re BOTH Jesuits. There is a strong connection to Angelo Caloia previously of the Vatican Bank (run by the Jesuits). The Spanish Jews have become Jesuits. Botin’s entire family were involved in this Madoff stuff and the Group as a whole had the largest exposure to it of ANY Bank/Fund while only 17M Euros of their own but $3.1Billion of clients’ money.

Yes Santander “made good” on some of the losses by their clients but not a lot at the end of the day. And what did they do? They offered Santander shares rather than the cash.

The bank booked a charge of 350 million euros against 2008 earnings for costs associated with the compensation program. The offer includes stock paying an annual yield of 2 percent and an agreement by clients to forgo any legal action and to keep Santander as their “preferred” bank as long as the shares stay in circulation.
So let’s just imagine for a moment that it actually was Santander and Botin/his family, who cashed in on the loss of their own clients to the tune of $3Billion or so. That cash rich injection could just allow for the buying up of a number of other banks now couldn’t it?

June 1st 2010 UPDATE:

VATICAN BANK UNDER INVESTIGATION
Santander Involvement –

STIStory_533955.html

God Help us! Are we truly run by incompetent imbeciles in the Scottish Executive?

Posted in Finance, Politics by earthling on July 30, 2011

JESUS CHRIST! This is painful!

 

 

From: Earthling

To: malcolm.chisholm.msp@scottish.parliament.uk

Subject: RE: Complaint

Date: Sat, 30 Jul 2011 20:04:41 +0000

 

Malcolm,

 

I am sorry but this is painful. It was once amusing but now it is simply painful. I will respond by giving you the benefit of the doubt that either:

1. You did not bother to read this or,

2. You sincerely do not understand what I am talking about.

 

Now correct me if I am wrong but I am sure that I have previously sent you the parliamentary minutes and House of Lords minutes by both a Captain Henry Kerby in 1965 and Lord Sudeley in 1999 respectively. I also believe I have sent you the video showing Douglas Carswell MP stating the fact, within the House of Commons, last year, that the World monetary system is a Ponzi scheme. Further, I believe I have sent you the video of Ben Bernanke, Chairman of the Federal Reserve system, stating clearly that a National debt is unnecessary in totality. Now the last time I checked, neither Alan Greenspan (one corrupt individual) nor Ben Bernanke (another) ever considered or discussed the ISSUANCE of money and how that impacted upon Economics and that is because it has NO impact on the supply and demand of goods and services. The issuance of money is not even taught in Economics and Business tertiary education (or, in fact, at any level within our educational system). Meanwhile, we have Ben Bernanke having been put on the spot by a US Congressman asking him if it were correct to say that there is no need for a national debt and Bernanke replying “Yes”.

 

NONE of the above has the slightest thing to do with Economics, whether that be Keynesian or Austrian or any other form. It is a basic function of how money is created and not to do with the laws of supply and demand in any way whatsoever.

 

Let me put it this way: I am advising you that, instead of producing milk from a goat which demands we must pay the goat back all the milk we have consumed PLUS interest of another quart of milk (which was never brought into existence by the goat in the first place), we should have it produced by a cow which allows the constant circulation of the milk and ZERO interest to be paid upon it.

 

You have responded by saying that by producing it from a cow would have been disastrous for the country. You are assuming that money needs to be borrowed AT ALL. There is NO NEED for the government to borrow ANY money whatsoever. Therefore, there is NO NEED for the country to have a National debt of ONE PENNY. Therefore there is NO NEED for any form of AUSTERITY MEASURES! There is no need for Government borrowing FULL STOP. There is, therefore, no need for the Scottish (or British) or ANY government to have a debt, therefore there is no need for the immense imposition of tax upon the Scottish or British people. Therefore there is no need for there to be no money available for any and all infrastructure projects, education, health, employment. The Scottish government could have FULL employment in Scotland and a fully funded infrastructure, education, health etc etc. I assume, now, the point I am making is CRYSTAL clear?

 

The Scottish government simply needs to stop the FRAUD of borrowing money from private interests (i.e. Private Central Banks) and issuing gilts/bonds (government collateral) and simply issue it’s currency and credit directly from the Scottish Government/treasury to the nation.

 

Malcolm, this is not rocket science and it has ZERO to do with Economics!

 

Now, I will ask you once more to act upon this and bring it to the attention of the Scottish Executive and to the Scottish Public.

 

Please do so for the humour in what seems to be a broad incapability to grasp logical, simple concepts is running dry while there are people in this country losing their entire livelihoods and, with respect to the aged, their lives due to a system which, perhaps through your ignorance it would seem from your reply, is being protected and supported by you. Please consider the deaths of people due to this system when you consider your actions in ignorantly (perhaps) supporting this ponzi scheme.

 

Lastly, if I have not sent you the items I list above then please advise because they entirely support what it is I am advising you of. There are no “ifs buts and maybes” here.

 

Now will you please deal with this matter properly or I shall have no alternative but to make a solid complaint to the Scottish Executive regarding the capability of my MSP to hold office given he is displaying some form of mental incapacity to grasp a VERY simple point. I would, therefore, have to assume that he cannot carry out his duties effectively in representing my or any of his other constituents’ interests.

 

 

Earthling

 

From: Malcolm.Chisholm.msp@scottish.parliament.uk

To: Earthling

Subject: RE: Complaint

Date: Sat, 30 Jul 2011 15:27:10 +0000

 

Well there are just different economic views on this Earthling. You are expressing a pre-Keynesian approach which in my opinion would  have been totally disastrous for this country,. Without borrowing the recession would have been a slump and unemployment would have been sky high. Of course the deficit must be dealt with but a too extreme approach is counter-productive  which is what I believe is happening right now.

Best wishes

Malcolm Chisholm

 

 

From: Earthling

Sent: 28 July 2011 00:15

To: Chisholm M (Malcolm), MSP

Cc: scottish.ministers@scotland.gsi.gov.uk

Subject: FW: Complaint

 

Malcolm,

 

As my MSP and representative, I expect you to act upon this complaint since, having sent it into the Scottish Executive, they, of course, have ignored it. They do so by their determination that complaints about the Scottish Executive/Government are only on procedural points. Poor “service” therefore to minor issues which one may raise. As you are fully aware, this is not a minor issue.

 

Now, I will state this quite clearly: The Scottish Government (as are the UK Government) are defrauding the nation by way of borrowing money/credit and having the people of Scotland pay an interest on a debt which was and is unnecessary in it’s entirety.

I have previously provided support of such an allegation by way of Parliamentary and House of Lords minutes plus a definitive confirmation of the issue by Ben Bernanke of the Federal Reserve System (for it is an entire western monetary issue) so Malcolm, please do not treat this as some “off the wall” issue. Please do not insult my intelligence and please confirm you have read this – I know you fully understand the issue – and that you are bringing it to the attention of the Scottish Executive.

 

There is no “explanation” of this issue required since, frankly, there is none. The Scottish Executive must “come clean” and advise the Scottish public that such a fraudulent misrepresentation of money and credit and the need for borrowing at all shall be given a full, frank, open hearing.

 

Please respond and acknowledge this communication with some immediacy.

 

Earthling

 

From: Earthling

To: scottish.ministers@scotland.gsi.gov.uk

Subject: Complaint

Date: Wed, 22 Jun 2011 14:17:16 +0000

Dear Mr Salmond and Ministers,

 

On the Scottish Executive website, it has the following regarding complaint procedure:

 

The Scottish Government Complaints Procedure

It is important to the Scottish Government that complaints about service are dealt with by the right person at the right time.

If you have a complaint about the service you have received from a department or official, the Government will work with you to resolve the complaint in a full and fair way, keeping you informed of progress.

Complaints Procedure

·         First, you must speak to the officials in the business area or department that your complaint is about. Working with you, they will aim to resolve your complaint. You can reach officials through the Main Addresses and Contact Points of the Scottish Government.

·         If, working together, you are unable to resolve the issue, the officials will ask you to confirm if you wish to move on to the next stage. A senior official will appoint a Complaints Officer who is completely independent of the business area involved in the stage above. They will look into your complaint and aim to help you resolve it. If your complaint is still not resolved it will be subject to a final review by the relevant Director. If you remain dissatisfied, you then have the option of taking up your complaint with the Ombudsman.

 

Here is my service complaint and the right person is you Mr Salmond. After all, the “buck stops” with the First Minister on something as fundamental as this. Furthermore, it impacts and applies to ALL departments whether that be finance, social care, Justice, you name it. So let us “work together” to resolve the issue shall we? After all the role of government is to govern by consent is it not? Please answer this first question. Is this a correct statement? The people of Scotland elect their government to represent them and, thereby, are governed by consent. I am sure I have heard you say words to the effect “The people of Scotland have spoken”. So then, let us work together to enlighten the people of Scotland further and ask them to speak once more shall we?

Or do we have something other than a democratically elected devolved government? Please be specific while concise.

 

You see the fundamental issue with people voting at the ballot box and that being considered “democracy” is that, if the people voting have not been given all the facts and information they require to make an educated and informed decision, then such “democracy” (and the subsequent “contract” between the electorate and the political party for the latter’s legitimacy to govern) is based upon deception. Before anyone signs for their mortgage or any other financial transaction, they are provided with terms and conditions of contract. IF those terms and conditions are judged as not having given the buyer full and frank disclosure, then the contract is considered void and the legal establishment would rightly consider such practice by the seller as fraudulent and deceptive practice. I hope this clarifies my point Mr Salmond?

 

Now, regarding your service Alex and the service to the people of Scotland of your entire party. My complaint is this: Fraud and deception – plain and simple. Whether intentionally or otherwise perhaps you can clarify? The remedy for this is also very simple however. You advise the Scottish public that, in fact, there is no need whatsoever for a public/national/government debt. You cease borrowing the nation’s currency (and yes I am well aware that, right now, such currency is a UK currency. I am also aware of the fact that, in terms of notes and coins, neither Bank of England nor Bank of Scotland or Clydesdale Bank notes are legal tender in Scotland). I am talking about the issuance of the nation’s credit in total Mr Salmond. The fact that it is issued as a debt and bears interest.

 

So let us “collaborate” and work together as your Complaints Procedure above suggests so that you may bring this issue to the attention of the Scottish public immediately. Work with me. Let’s resolve the complaint in a full and fair way.

 

I don’t think there is any need for a Complaints Officer and next stages but, if you are unwilling to “work together” on this issue then I guess it must progress to that stage. However, will the “Senior Official” appoint such an officer to handle the complaint objectively or will he have been told precisely how to handle it to the satisfaction of Mr Salmond and the Scottish government rather than to the satisfaction of the people of Scotland?

 

Please keep me informed of the progress.

 

Kind Regards,

 

Earthling

 

 

 

 

I mean SERIOUSLY! How many F***ING times does this have to be repeated?

National debt = ZERO: Austerity unnecessary.

Posted in Finance, Politics by earthling on April 16, 2011

But our CORRUPT British government (ALL PARTIES) DO NOT WANT THIS and will NOT tell the British people the big con whereby your wealth – and the country’s as a whole – is being stolen from underneath our noses while these parasites, which includes our monarchy, feed from you by filling you up with debt then allowing the Banks to burst the bubble and call in the loans/debt.

Britain, just as the Federal Reserve is fleecing the American public so too is the Bank of England fleecing you. And our governments play along because, as you may have noticed, those who are in government are very well taken care of financially.

PLEASE, for your own sakes and for the sake of us all: WAKE THE HELL UP!

I have since personally received a copy of Henry Kerby’s transcript of this EDM from the PARLIAMENTARY ARCHIVIST.

THIS is why our country (and I may add ALL other countries’ sovereignty is going down the plughole and our debt is ever increasing and shall never end. THIS is why we have an UNNECESSARY AUSTERITY: Because the POLITICIANS will NOT issue our own currency debt free. I hate to add this but it is just fact: Adolf Hitler was NOT the instigator of WW2. He worked out the problem and the problem was Private controlled Bankers (the MAJORITY of them jewish because ONLY the jewish religion from centuries past allowed USURY and the British Christians in the 1600s then adopted it when the christian religion had always denounced it) who created the money out of thin air and loaned at interest. They are PARASITES and very few people understand this.

Who REALLY instigated WW2 and why? (and WHY are they doing such again today?):   jews-declare-war.htm

Many people will NOT like this idea but it is NOT an idea. It is FACT!

Notice it was all well before 1939 and why? Because Hitler was not playing ball and was issuing his OWN currency! WHO writes History? The victors do! THAT’S why you don’t get the truth in your history books at schools people!

The entire nations of the world are in debt. Every single one of them (you can find the figures through googling easily enough). Now just stop and think in very simple terms (BECAUSE THIS IS VERY VERY SIMPLE): If YOUR family was the only family on earth but was still in debt, WHO would your family be in debt to? Who COULD it be? The answer: No-one!

Now apply that to the fact that EVERY nation on earth is in debt. For EVERY debtor there is a CREDITOR. Who has sovereignty? WHO is in control? The CREDITOR is.

So if EVERY nation is in debt (which they are) then WHO, ultimately, is the creditor? The ENTIRE HUMAN FAMILY is in debt! To who?

To the Private Central Bankers. THAT is why we all have austerity and why countries like Greece and Portugal and Ireland and even us, the UK, are selling off assets. Because our politicians are in bed getting their kickbacks from the legislation they adopt in favour of the banks! It’s not your local high street bank we’re talking about here. It is the entire banking system controlled by the IMF and Central Banks. The WHO is who is behind them? Well we KNOW who!

Captain Henry Kerby MP: UK Parliament Hansards 1965:

1. The UK government DO NOT WISH TO eliminate the National Debt. It has NEVER been their intention!

2. “No”. Could this be ANY clearer for you?

3.  Captain Henry Kerby’s Early Day Motion dated 22nd December 1964.

Ask yourself a VERY simple question: Why would the British Government NOT wish to pay off the National Debt?

A Motion to Restore the Power of the Issue of Money to the Crown

This article appeared in Prosperity, October 2001

By Captain Henry Kerby MP

On the 22nd December, 1964, Captain Henry Kerby, MP, placed the following Motion before the House of Commons.

It was an “Early Day Motion” and so it was never debated and, consequently, does not appear in Hansard. It is, however, published in the Early Day Motion records and we have a copy of it here at Prosperity.

The House of Commons Public Information Office Factsheet on Early Day Motions states that an “Early Day Motion” is the “colloquial term for a notice of motion given by a Member for which no date has been fixed for debate” and where “in the vast majority of cases, there is absolutely no prospect of these motions ever being debated. Their modern existence is due to Members wishing to put on record their opinion on a subject and canvass support for it from fellow Members. They do this by inviting, actively or passively, other members to endorse the proposed motion.” However, even if 250-300 Members might endorse it, “the lack of prospect of the motion being debated remains much the same.”

Below we reprint the full text of Captain Kerby’s Early Day Motion, titled as below, and his comments — unpublished in the official record — follow.

THE EMISSION OF ALL THE MEANS OF EXCHANGE

That this House considers that the continued issue of all the means of exchange – be they coin, bank-notes or credit, largely passed on by cheques – by private firms as an interest-bearing debt against the public should cease forthwith; that the Sovereign power and duty of issuing money in all forms should be returned to the Crown, then to be put into circulation free of all debt and interest obligations, as a public service, not a private opportunity of profit and control for no tangible returns to the British people; and that the volume of money be controlled so as to maintain stable prices:

That the nationalization of the Bank of England did nothing to solve this problem as the bank only serves a subsidiary purpose and almost all money is still created out of nothing by mere book entry by private banks:

That the aims of those who want to assure private property and free enterprise, as well as those who want to protect the British people from unfair exploitation, would both be best served by restoring the power of issuing money to Her Majesty The Queen, in accordance with ancient tradition and law, as is also demanded by the American Constitution, which gives the right of issue solely to Congress, so as to assure the State and Nation the benefits of that emission and relieve them of the immense and growing burdens of a parasitical National and private debt; and to make certain that control passes to the taxed and is taken out of the hands of the present hidden and unlawful beneficiaries of taxation, much of the proceeds of which they collect as interest on all money and immense debts:

And therefore this House calls upon Her Majesty’s Government to introduce the required legislation, to assert the proper sovereignty of The Queen in Council in this most important of all sovereign functions, to assure unprecedented prosperity with true sovereignty and liberty.

Captain Kerby’s comments:

It is not generally understood that for many centuries, in Britain and in almost all other civilized countries, the power and duty of coinage, i.e. of the issue of money in all forms – coin, notes and book-entry credit passed on by cheque, etc. – was vested solely in the Crown or State. For this reason the tradition still persists of putting the Sovereign’s portrait on the coinage, though in fact since the end of the 17th century, the reign of William and Mary, by far the greatest part of all the effective means of exchange are issued by private bankers out of nothing by mere book entry, to be lent at interest to the State and to private borrowers. Thus real power passed from the State to the private bankers.

There is ample evidence from many independent sources to prove that most of the means of exchange in modern conditions originate with bankers. In America it is aptly called “fractional reserve banking,” meaning that if you have a pound in cash in the till you can issue ten or twenty times more in the form of “credit” on the books, which is mostly circulated by cheques.

Not a few Heads of Central Banks of Issue have stated the facts at public enquiries or in the press, including the chief of the Canadian Bank of Issue, also Mr. Marriner Eccles — at one time in parallel position in the U.S. Federal Reserve — and the late Mr. Reginald McKenna, former Chancellor of the Exchequer and Chairman of the Midland Bank. They and many others confirmed that it is the function of banks to create money out of nothing and lend it out.

The “Report of the (New Zealand) Royal Commission on Monetary, Banking and Credit Systems,” 1956, states in part; Para. 164: Creation of Money by the Trading Banks: “The fact that a large proportion of our money supply comes into existence as a result of the operations of the trading banks obviously disturbed many witnesses …”

This evidence is paralleled by that given in 1960 to the Radcliffe Committee in London. We quote from the evidence given by the Bank of England, Vol. 1, Memoranda of Evidence; p.9. 4. The Control of Bank Credit in the United Kingdom:

2. “Because an entry in the books of a bank has come to be generally acceptable in the place of cash it is possible for the banks to create the equivalent of cash (i.e. credit). Thus a bank may pay for a security purchased from a customer merely by making an entry in its books to the credit of that customer’s account: or it may make an advance by means of a similar entry. In either case, an increase in its deposits will occur.”

In the United States of America, the Constitution clearly provides in Art. I, Sec. 8, Clause 5, that only Congress shall have the power to coin (issue) money, regulate the value thereof and of foreign coin (rate of exchange). Yet obviously this constitutional provision has been completely ignored in practice almost since American independence. In the United Kingdom, too, the spirit of the old laws and traditions has been circumvented.

Yet this is no mere academic matter, but a question of supreme importance, affecting the Sovereignty and very existence of the State and country. It has been said that there should be no taxation without representation, yet private financiers can issue “imaginary” money out of nothing by mere book entry and lend it at interest, they acquire the profit of issue and of interest gratis, at the cost of the whole community. This is taxation in the fullest sense, accompanied not by the representation of the taxed, but by the complete power of the true tax collector, who is the ruler. The basic truth of no taxation without representation is turned upside down and inside out.

It follows that the power of Parliament in general, and especially with regard to Money is non-existent, and all true sovereignty is in the hands of those private individuals who issue all money and determine its value and distribution. If even the State borrows from them, having abandoned its own powers of coinage (emission) to private financiers, how can that State claim to be truly sovereign? The real basis of the power of the money-creators and money-lenders lies in the fact that few know the truth about this financial “hidden hand.”

Conservatives with knowledge and long historical memories will recall that the original Tories were Jacobites. Today this question does not apply to the Crown as Her Majesty enjoys the loyalty of all Her subjects. But the spirit of the old Jacobites expressed a sounder understanding of the functions of the Crown as fount of Sovereignty, to be exercised with Counsellors. In the context of that conception it was natural that the power of monetary emission should belong to the Sovereign, and long experience has shewn that that proposition was sound.

On the other hand the old Whigs were the proponents of “Dutch Finance,” of the issue of the means of exchange as an interest-bearing debt by private bankers, and of the domination of the State by High Finance, not the Sovereign in Council, the King and people. With the decline of Liberalism in Great Britain it might be thought that Socialist Labour is the heir of that tradition.

It is the claim of Socialist leaders that theirs is not the Party of the Big Money Men. The test is this: will Labour understand that the “nationalization” of the power of coinage (emission) is the supreme necessity? And not the confiscation of the fruits of many peoples’ labour and invention.

If the Socialist Party does not pass this test and continues to protect parasitical finance, if only by its silence, then it will lay itself open to an attack which it could never repulse, however long it may postpone the show-down.

Here, then, are some basic propositions which should be known to all, and which are behind the intentions of the Motion:

1. All the means of exchange, with the exception of a very small fraction (coin) are created in the books of private banks when they lend to the State and private borrowers. Conversely, when a loan or overdraft is repaid there is less money in circulation.

2. Even notes and coin come into circulation only in exchange for book entry purchases of Treasury Bills by banks, and thus are virtually issued by the bankers.[For a fuller description on how notes and coins come into circulation, see April 2000 Prosperity]

3. It follows that those who have the power to “create” out of nothing all the money in each country and the whole world and lend it as stated, have total power over all States, parties, firms, radio, press, individuals and so on. Therefore the powers of Parliament are largely ephemeral.

4. It is essential that the issue of money be as needed by the whole nation and hence free from private or political influence. Consequently it is essential that the Queen in Council should resume the power and duty of monetary emission. If new money is spent (not lent) into circulation, taxes could be reduced to a small fraction of their present and growing burden and the National Debt will gradually disappear.

5. Banks should only be able to lend moneys they have earned or borrowed. Their other functions would remain.

6. With the release from the debt and tax burden and with the issue of money in accordance with the needs of exchange, the country would experience unexampled and lasting prosperity, with no slumps and unemployment. Financial principles and policies would be open and broadly understood: instead of being Master, Money would become a public servant.

Santander (Madoff Ponzi Scheme) Banking criminals

Posted in Finance, The Corrupt SOB's by earthling on April 7, 2011


Spanish Jesuit Criminal 1: Emilio Botin

I have just found the following minutes of evidence wherein Horta- Osorio of Santander (now Lloyds) is questioned on the Bernie Madoff ponzi scheme. I think the reader will recognise the questioning is certainly that of a Treasury who smell one big rat – a Spanish Jesuit one!

I think, then, for anyone to consider the following previous blogposts a “stretch” in any way, would be closing one’s eyes to what is now set out before you.

Santander’s role in the Bernie Madoff ponzi scheme was immense and yet it is being suppressed.

Santander is a criminal enterprise!

Please cross reference with the following two blogposts:

santander-a-banking-giant-out-of-the-blue

and

bank-worker-stephanie-bon-and-the-4000hr-jesuit

Spanish Jesuit Criminal 2: Ana Patricia Botin

Spanish Jesuit Criminal 3: Horta-Osario

UK TREASURY MINUTES OF EVIDENCE 11th FEBRUARY 2009.

Q2053  Mr Breed: António, could we talk about what may be referred to as “the Madoff affair” and Santander’s investments? I think some of us are quite surprised, bearing in mind the history of your bank and the good acquisitions you have made and perhaps good investment decisions. What did you do in terms of due diligence on Madoff before you put quite substantial amounts of customers’ funds into it?

Mr Horta-Osório: We are as you know a bank which is very prudent in terms of risk management and controls. In order for you to be aggressive commercially, you should have certain areas such as risk management, auditing, control and compliance as very strong areas.

Q2054  Mr Breed: What happened with Madoff?

Mr Horta-Osório: It is in our opinion absolutely impossible to stop all frauds. This, as you know, is a fraud that was very wide, of very high dimensions, supervised by the SEC and the company and the person involved previously had a very high reputation.

Q2055  Mr Breed: As a very minimum, most people would have looked at the auditing arrangements. The auditing arrangements in terms of Madoff consisted of a 78 year old man living in Florida, one qualified accountant and a secretary. What sort of due diligence did you do on that?

Mr Horta-Osório: It is easier to say that with hindsight.

Q2056  Mr Breed: Absolutely, but why did you not do it?

Mr Horta-Osório: We have strong due diligence processes. We are absolutely convinced we followed them as we normally do and, as you know, we decided to compensate all of our private clients as a commercial decision.

Q2057  Chairman: I do not think we are going to get a sorry out of you today, are we? I looked at the congressional hearings and there was a man called Harry Marcopolis who reported this from 2000 to 2008 to the Securities Exchange Commission in the United States. If you look on YouTube, you will see his evidence. I looked at it. He said, “The Key Tip-Off. It took me five minutes to figure out he was a fraud. I basically read his strategy description and knew that that was not the source of his returns. Then I knew right away by looking at his performance chart.” He made an illustration to the Committee and he said, “His performance chart was a 45 degree angle without any variation. It only went in one direction: up. It never had any variation like the market does.” That was a key tip-off. If it took Harry Marcopolis five minutes, why did a credible bank like Banco Santander get duffed up on it? Why did you lose 2 billion euros on it? I put it to you that your due diligence was absolutely and utterly duff.

Mr Horta-Osório: Banco Santander did not lose two billion euros. Santander had a small amount invested in those funds.

Q2058  Chairman: How much did you lose?

Mr Horta-Osório: We lost 20 million euros.

Q2059  Chairman: That is still quite considerable for people.

Mr Horta-Osório: According to the total size of the bank and the total fraud which was $50 billion, that is a very small amount. Within our total asset management we had a significant amount of money and a small percentage of our customers who invested in these funds. We are absolutely convinced, as we have already said publicly, that we followed the due diligence procedure, as did many other banks around the world but despite that we have decided to compensate our private customers. On top of this, because we are in the UK, I would like to add that we have no UK clients at Abbey who invested in those funds.

Q2060  Chairman: It is not that I want to fall out with you but I do not believe you in terms of how the bank went about its structure because, again, Harry Marcopolis says, “What I saw and when I saw it. I was repeatedly ignored after an eight and a half year period between May 2000 and December 2008. Detailed, repeated warnings to the SEC.” That was when it could only have been a $3 billion fraud which ended up with a $50 billion fraud. When you get a one man accounting team who was a college friend of Madoff and he has two of his family in auditing, surely to goodness, with a big company, you should have exercised sufficient due diligence?

Mr Horta-Osório: I sympathise with your comments, but if it had taken five minutes for anyone probably it would have taken five minutes for the SEC as well, which supervised those funds.

Q2061  Chairman: The SEC did not take him on, because your man was the chief executive of NASDAQ and it was the old boys’ club. When you are investing other people’s money, you should have adequate due diligence. That is the point I am trying to make to you.

Mr Horta-Osório: Yes, and I agree with you. On top of that, we have offered to reimburse those customers.

Rothschild… China, White Phosphorous, Iran and Iraq

Posted in Politics, The Corrupt SOB's, Uncategorized by earthling on February 26, 2011

MP Lazarowicz has been advised time and time again about the Rothschild influence yet has simply refused to accept what is in front of his eyes written in black and white by the UK Parliament.

From: Earthling
To: mark.lazarowicz.mp@parliament.uk
Subject: Coming soon… to the UK.
Date: Sat, 26 Feb 2011 20:22:00 +0000

Dear Mark,

Don’t say I didn’t warn you Mark. Your government of today know it. They’re getting ready for it.
But while all of your colleagues keep your mouths shut to keep in line with the party, this is what you are allowing to build up.
Because you’re allowing yourselves to be bullied. You’re all weak. Just a fact Mark. You’ve lost your individuality. You’re no longer “Mark Lazarowicz” you’re “Mark Lazarowicz Labour MP”. And you and your MP colleagues feel so proud and better and above everyone else – that’s why you feel no need to reply to points which are facts and you cannot argue.
I could be wrong but I sense you picking up on all of this while it’s just too hard and too dangerous for you in your position to speak out. But don’t worry. Your weakness will be more than made up for by those who will. The unfortunate thing is – when they look to you they will ask what your modus operandi was. The answer: “To keep my job”. FAR more important than doing your job isn’t it?
You’re not going to like Britain soon Mark. I don’t like it now but then I “see” it whereas you don’t. You wish to believe it’s all going to blow over.
You’re so very very wrong. Having said that, I hope I’m wrong but I’ve seen this coming for years now. I’ve educated myself immensely to see the how’s and the why’s.

Wisconsin Capitol Building: The Police join the protestors.
breaking-wisconsin-police-have-joined-protest-inside-state-capitol

We have Police in the UK Mark who are beginning to listen too. We don’t want a mini civil war now do we? Or would the bankers profit from it? 😉

I’m just trying to get through to you Mark. When the questions are put nicely I get nothing in return or I get the BULLSHIT responses you know I just got from an evasive treasury. When someone is faced by people who show them no respect, then those people tend to be offered no respect. It’s not a preference but straight, blunt talking is needed and it’s going to be needed even more unless you people get your fingers out of your collective posteriors.

As for the attachments. Just to give you a flavour (hardly exhaustive) of the Rot of the Rothschilds which has crept in over the last couple of centuries – and never let up – while they have “advised” (and I use that term advisedly) the government on all the major sell offs of our industry. A to Z. I haven’t even touched on the Motor industry. So while all the developing world is doing great – investment, GDP growth etc BECAUSE they have basic industry – the UK has zero. Oh EXCEPT for perhaps TWO things – TWO guesses what they are Mark? ….. BANKING and???……….. ARMAMENTS/DEFENCE/WHITE PHOSPHOROUS/ DEPLETED URANIUM SHELLS to sell to Iran and Iraq and every other dictatorship Rothschild can do business with.

Is it getting clearer Mr Lazarowicz?

I wait in hope Mark to hear from a man not a mouse.

Regards,
Earthling

PS: As for the mousy quiet Darling (another weak willed Scot just doing as he’s told – but the pay is good) who has refused to answer the questions I put to him also. Isn’t this a rather interesting little statement he made a number of years ago in the commons:

Mr. Alistair Darling (Edinburgh, Central) I am grateful to my hon. Friend the Member for Edinburgh, Leith (Mr. Chisholm). The reason why we ask him to be brief is that we know that he can make his arguments extremely well briefly, which he does time and again——and I say that not only because he happens to be one of my next-door neighbours in an Edinburgh constituency.
The debate has been extremely useful. On few occasions that I have witnessed in the eight years I have been a Member has the House spent so much time discussing directly problems which affect so many of our constituents, and also a problem that is fundamental to the future development of the economy.
There is no difference between the two sides of the House on the principle of venture capital trusts. We all agree that it is desirable, and from time to time necessary, to use fiscal incentives to ensure that investments are made in the sectors where we need it.
The difference between us is threefold. First, we believe that the Government need to consider other sectors, which have been mentioned on both sides of the House. Secondly, we believe that there must be safeguards to ensure that, if one gives a tax incentive, one does not end up subsidising undesirable behaviour, such as the behaviour that occurred when the business expansion scheme was set up. In that respect, too, there was common ground on both sides of the House. The difference between the two sides is that those who support the Government do not appear to accept that there is a case for ensuring that there should be safeguards in relation to venture capital trusts.
I suppose that the third difference between us is that we believe that the Government have given fiscal incentives in undesirable ways, such as the business
417
expansion scheme, but the Government will not accept that the taxpayer’s money has thereby been poured down the drain. I shall perhaps discuss that later.
7.15 pm
The Minister appeared reluctant to accept that there is no difference of principle between us, so we should perhaps not spend too much time trying to make differences where none exist. Perhaps British industry as a whole will welcome the fact that there is cross-party support for the principle of encouraging investment in what is known as the investment gap, which has been identified by almost every hon. Member who has contributed to the debate.
However, I took exception when the Minister said that because no one was focusing on granny farms, as he put it, that was all right. In support of his proposition, he cited the fact that Rothschild’s supported the Government. What a surprise—Rothschild’s supports the Government. I am sure that a bank such as Rothschild’s, which has no fewer than 14 times been the recipient of public largesse, either as an adviser to the Government or as an underwriter of its flotation schemes, should say, “Well done the Government for coming up with that scheme.”
Indeed, as my hon. Friends the Member for Sheffield, Attercliffe (Mr. Betts) and for Rotherham (Mr. MacShane) said, if venture capitalists do take great care in assessing the risks and evaluating the projects before them, it is scarcely surprising that the Chancellor hardly sat down after his Budget statement before our old chums at Rothschild’s announced that they were going to set up a venture capital trust. They could not have known what was in the Budget, could they? How on earth would they know what a surefire bet it was—unless, of course, they had the amazing foresight of the noble Lord Archer of Weston-super-Mare?How could Rothschild’s say so confidently that it was going to set up a venture capital trust unless it had made an evaluation of the type of tax breaks available and knew that, no matter what the risk, no matter what venture it backed, it was guaranteed to obtain a suitable return?
I do not think that the Minister can rely on Rothschild’s for support, therefore, and I believe that both he and Conservative Members generally, today of all days, would do well to be very quiet about Rothschild’s and the Conservative party, for reasons that people outside and inside the House will understand.
The main subject to which successive hon. Members drew attention was the funding gap between quoted companies and small businesses, many of which are funded by family money or by bank overdraft. As my hon. Friend the Member for Dudley, West (Mr. Pearson) said, that is starting to change; nevertheless, there is obviously a funding gap and we welcome the fact that the Government are tackling it.
I want to take up an argument that the hon. Member for Gordon (Mr. Bruce) made about property. I think that we all accept that if inflation remains low—a big “if’—obviously property will not be the kind of bet that it was in the past 30 or 40 years. However, in my travels around the City of London I have been surprised how many people tell me that they are getting back into property again. We all remember the property collapses of the 1970s, the late 1980s and the early 1990s; yet people are getting back into property because it is regarded as a major asset in a portfolio.

But no, indeed, Alistair has no idea what I’m talking about when I put those questions to him now does he?
Would you care to comment Mark? No, I guess not.

Attachments:










I hope that gives a fairly decent summary to you all regarding Rothschild TOTAL influence on the UK government (along with their “Friends of Israel lobby) which you can consider having watched the following Channel 4 programme “Dispatches” Nov 16 2009:
article23997.htm

While you may then consider the following Rothschild “ADVICE” to the UK government:
article6814923.ece

While you may also consider the following Rothschild/Mandelson/Osbourne threesome:
YOU DO NOT MESS WITH THESE JEWS GIDEON! THEY DESTROY GOVERNMENTS NEVERMIND LITTLE WEEDS LIKE YOU!

George-Osborne-warned-stop-rubbishing-Rothschild-or-youre-finished.html

While you ALSO may consider this. Mandelson and Blair dine with the Rothschilds and Gaddafi:
Lord-Peter-Mandelson-spends-weekend-with-Colonel-Gaddafis-son-Saif.html

And this…. Mandelson is, in fact, very likely a Rothschild…..

Mandelsons-family-history–claim-uncrowned-King-Poland.html

While Hannah Rothschild calls him “The REAL PM”! 😉

From the Independent 24th October 2010:

And finally, you may wish to understand why our dearly departed ex PM Blair gets along so well and becomes so rich while being picked up by J.P. Morgan (another Rothschild front bank):

Blair-invites-billionaires-exclusive-No-10-party.html

Who arranged the entire thing for him? Lady Lynn Forester De Rothschild, old Evelyn’s bit of fluff!

IS THE FOG LIFTING? IS IT NOW AS CLEAR AS A PLATE GLASS WINDOW FOR YOU?

SANTANDER – Update

Posted in Finance, Uncategorized by earthling on February 22, 2010

Following on from my original SANTANDER post: santander-a-banking-giant-out-of-the-blue

From Larouche-Pac (EIR):

“February 9, 2010 (LPAC)—Lyndon LaRouche today issued a stern warning to those around the world, who have bought into the British imperial propaganda line that the United States is going down, and that any alliances or cooperation with Washington are fruitless. “The truth is, that it is the British System that is collapsing, far more rapidly than most people wish to believe. People must realize that the power of the British-led bloc is crashing, and that the clearest sign of this collapse is the unraveling of the Inter-Alpha banking group, led by Banco Santander.”

LaRouche explained: “Last week, I conducted a test, aimed at smoking out the true vulnerability of the British System, through particularly the exposure of Banco Santander, in the onrushing collapse of the European Monetary Union. I warned that Santander was thoroughly exposed in this process, and that this would, in turn, bring down major parts of the City of London, including the British government-run Royal Bank of Scotland, which is indistinguishable from Santander. I also warned that the epicenter of the European crash was not Greece, but Spain. I warned of an immediate spill-over into Brazil, where Santander has been the long arm of British looting policies for more than a decade.

“I was proven right, beyond most people’s expectations,” LaRouche continued. “Within 48 hours of my issuing the warning about the British exposure through Santander, the roof caved in on the nominally Spanish bank, which is, in fact, at the heart of the British System and its reach into continental Europe, Ibero-America and even Russia. Last week, Santander’s total value crashed by 16 percent, and that is just the beginning. Sensing the blood in the water, Union Bank of Switzerland (UBS) issued a “sell” recommendation on Santander stock to its clientele before the end of last week.

“The lesson to be learned from my little test: The British are not the financial power they claim to be. Their system is coming down, fast and hard, and anyone who continues to bet on the British System, including the City of London-manipulated European Monetary Union, is making a very bad bet, indeed.”

SANTANDER: A Banking giant, out of the blue?

Posted in Finance, The Corrupt SOB's by earthling on January 27, 2010

While I condemn violence and crime of any nature, there is a time when one must step back and ask the simple question: WHO are the real criminals? WHO is it that brings people to the point of violence? Could it be people who regard themselves and are regarded by others a “Pillars of Society”? Similarly, the question is raised in regard to Palestinians and the conditions which they live under and why they feel so helpless against a “machine” such as the Israeli regime and military, to wish to “punch back” in any way they can – sometimes suicidally.

One simply must look closer at these people who, while they believe they are better  – and some even state “We do God’s work” – cause sheer desperation to many due to their CORRUPT TO THE CORE activities. Can I be too condemning of this protestor then? No. I can’t. It is a 21st Century version of Jesus casting the money changers from the temple. I’m no religious person but I can say he was right 100%. But Jesus had power, this one man doesn’t. Educate the rest of the population on how it all works and, together, they would have power and need not use it violently.

I’ve been wondering how Santander is suddenly THE bank and how it suddenly came from a second division Spanish Bank background to a World force in such a short time. So I had a wee delve and came up with a few things to think about….

PLEASE ALSO BEAR IN MIND WHILE READING THE FOLLOWING THAT SANTANDER IS PART OF THE ROTHSCHILD INTER-ALPHA BANKING GROUP!

From the Guardian:  madoff-santander-shares

New Black Pope:

0,8599,1700157,00.html

“So? What’s your point now? One minute you’re up against the “jews” and the next it is the Roman Catholic church?? ”

Well the point is this:

The Jesuit Order as a Synagogue of Jews: Jesuits of Jewish Ancestry and Purity-of-Blood Laws in the Early Society of Jesus (Leiden: Brill Academic Publishers, 2009) has led me to another remarkable element in the development of Jesuit casuistry. That is the early and important role of IBERIAN (Spanish) conversos (as Christians of JEWISH ancestry were called) in the development of the Society of Jesus, and its methodology. The evolution of sixteenth century Iberian societies contributed notably to the size and importance of the converso presence in the Jesuit order. At a time when Iberian conversos were increasingly excluded from a growing number of guilds, religious confraternities, colleges, religious and military orders, as well as residence in certain towns, the Jesuit leadership in the first three decades of the order’s history (1540-1572) opened their doors wide to candidates of Jewish descent.

Now, I’ll throw another little fish….

Santander. Where the hell did they appear from all of a sudden? Well consider this:

Emilio Botín (born 1 October 1934) is a Spanish banker. He is the Executive Chairman of Spain’s Grupo Santander. In 1993 his bank absorbed Banco Español de Crédito (Banesto), and in 1999 it merged with Banco Central Hispano creating Banco Santander Central Hispano (BSCH), which became Spain’s largest bank, of which he was co-president with Central Hispano’s José María Amusategui, until Amusategui retired in 2002. In 2004, BSCH acquired the British bank Abbey National, making BSCH the second largest bank in Europe by market capitalisation.

Keep reading…..

After attending as a boarding student the JESUIT SCHOOL of Colegio de la Inmaculada, in Gijón, he studied Law at the University of Valladolid in Valladolid and Economics at the University of Deusto in Bilbao.

A JESUIT school of all things!!

Botín was no newcomer to the banking world. His father, grandfather and great-grandfather were all bankers.

On 25 April 2008, two people died in a plane crash south of Madrid at a property belonging to Emilio Botin. Neither was a member of the banking family. The light aircraft, which was attempting to land at an airstrip on the Botin property known as El Castano, was transporting 441 pounds of hashish.

Nice huh? 🙂 But continue……

1999: Botin faced trial on criminal charges of “misappropriation of funds” and “irresponsible management.” However, in April, 2005 he was cleared of all charges.

2005: the anti-corruption division of the Spanish public prosecutor’s office cleared Botin of all charges in a separate case in which he was accused of insider trading.

January 2006: a Santander, Spain court dismissed a lawsuit stemming from the cancellation of agreements reached by the SCH board in 2004.

November, 2006: Botin was brought to trial along with four other company directors for allegedly falsifying official documents and helping clients evade taxes. Spanish press sources reported that although Botin was accused of crimes against the state, the public prosecutor resisted bringing the case to trial. Private prosecution was brought by a prominent shareholder rights group, the Association for the Defense of the Investor and Clients (ADIC), which claimed that the charges against him constituted the “biggest fraud ever committed in Spain.” Botin evaded serving a jail sentence after the case was dismissed, and an appellate court rejected an appeal brought by ADIC.

Most recently Botin’s name has been in the news because of allegations that in 1999, at the time of the BCH merger, he bribed Spain’s economy minister, Rodrigo Rato, in order to seek favor with government officials. Botin and Rato, alongside a group of former associates have been accused of engineering a deal in which Banesto, a Santander subsidiary currently controlled by Botin’s daughter Ana Patricia Botin, purchased a €6M stake in a bankrupt water utility owned by the Rato family. Rato, Botin, and Alfredo Saenz, who was then serving as Banesto’s CEO, are accused of misappropriating funds, breach of fiduciary duty, falsifying documents, and bribery. The case is ongoing.

Now, Rodrigo Rato:

He was appointed to become the Managing Director of the International Monetary Fund (IMF) on 4 May 2004, and took up his duties on 7 June 2004. He has left his post at the IMF on 31 October 2007, following the World Bank-IMF Annual Meetings.

De Rato attended a JESUIT school before studying law in the Complutense University. So BOTIN and RATO BOTH Jesuits!!

Mr. Rodrigo Rato was the Spanish President’s Minister of Economy, who is responsible for the dismantling of the Spanish welfare state.

Mr. Rato is of the ultra-right . While in Aznar’s cabinet, he supported such policies as making religion a compulsory subject in secondary schools, requiring more hours of schooling in religion than in mathematics, undoing the progressivity in the internal revenue code, funding the Foundation dedicated to the promotion of francoism (i.e., Spanish fascism), never condemning the fascist dictatorship, and so on. In the economic arena, he dramatically reduced public social expenditures as a way of eliminating the public deficit of the Spanish government, and was the person responsible for developing the most austere social budget of all the governments of the European Community.

Gordon Brown, became Rato’s main advocate for the IMF position. Nowhere mentioned is the enormous costs this “success” has had on the quality of life of average folks in Spain. And these are the same policies that Mr. Rato is going to follow in the IMF, policies that have caused enormous pain and harm to the Spanish people, and will now be implemented world-wide. Nowhere, however, have the mainstream media reported on such important dimensions of Mr. Rato’s tenure as Minister of Economy of Spain. Quite remarkable!

Read more of what Rato did to Spain:
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Rato has since joined the Santander Advisory Board as requested by Botin.

But then we also have this:

The MADOFF PONZI SCHEME!

Dec. 14 (Bloomberg) — Banco Santander SA, Spain’s largest bank, said clients had positions valued at 2.33 billion euros ($3.1 billion) invested with Bernard Madoff.

$3.1 BILLION!!

The largest of ALL banks’ exposure to Madoff. BUT…..
Santander had only 17 million euros of its own funds invested through another fund. The $3.1BILLION was CLIENT exposure!

“Mr. Picard’s own investigation concluded that Optimal had no knowledge of fraud by Mr. Madoff, according to documents filed Tuesday in U.S. bankruptcy court in Manhattan.”

“Optimal’s (Santander’s Geneva based Hedge fund) relationship with Mr. Madoff dated back more than a decade, Tuesday’s court papers say. Some 70% of its affected clients are in Latin America, according to people familiar with the situation. Many of the clients also control firms with which Santander has a relationship.”

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“Much smaller enterprises feeding to Mr. Madoff include those run by two relatives of Santander Chairman Emilio Botín — his son Javier Botín-Sanz and son-in-law Guillermo Morenés.”

Spain’s anticorruption prosecutor will be looking closely at the relationship between Santander, the investment fund Fairfield Greenwich Group, and the Madoff funds, the prosecutor’s office said.
Investigators said they want to know why Mr. Botín sent one of his chief lieutenants to see Mr. Madoff in New York just weeks before the scheme collapsed. Rodrigo Echenique, who has been close to Mr. Botín for many years, visited Mr. Madoff in his New York office at the end of November. Investigators say they want to know whether Santander was aware of any problems at Mr. Madoff’s firm then. Santander declined to comment on the trip or make Mr. Botín available for comment.

Mr. Echenique also declined to comment on the trip.
Investigators say they also are focusing on the role of Fairfield partner Andres Piedrahita, a Colombian who lives in Madrid. He funneled client money into the Madoff funds, and according to marketing materials he also managed at least one other fund on Santander’s behalf that had losses from Mr. Madoff’s alleged fraud.
Mr. Piedrahita and Fairfield declined to comment.”

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And where did the $billions actually go? No-one knows to this day it seems….

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Using the connections of secretive Opus Dei, begun under Franco’s regime, Emilio Botin of Banco Santander co-ordinates with the President of the Vatican bank (Angelo Caloia), an alleged member of Opus Dei, which is not accountable to the Holy See of the College of Cardinals, though it is on Vatican City soil. In Puerto Rico, Botin’s Banco Santander Overseas Bank launders money for the foreign corporation Internal Revenue Service, headed by Opus Dei member Manuel Diaz Saldana, who is also Comptroller of the Commonwealth of Puerto Rico (ELA). Secretive Governor-Elect Luis Fortuno, and Ex-Governor Rafael Hernandez Colon, are also members of Opus Dei. Richard Carrion, head of Popular Holdings, is also on the board of David Rockefeller’s JP Morgan Chase controlled Verizon, and also launders IRS collections and illegal drug profits through offshore accounts. Botin’s Banco Santander has swallowed the assets of many UK banks for pennies on the dollar, leaving the billions in liabilities to UK taxpayers.

Now, the Vatican Bank is said to be a successful and profitable bank. By the 1990s, the Bank had invested somewhere over US$10 billion in foreign companies. In 1968 Vatican authorities hired Michele Sindona as a financial advisor, despite Sindona’s questionable past. It was Sindona who was chiefly responsible for the massive influx of money when he began laundering the Gambino crime family’s heroin monies (taking a 50% cut) through a shell corporation “Mabusi”. This laundering was accomplished with the help of another banker, Roberto Calvi, who managed the Banco Ambrosiano. Both Calvi and Sindona were members of the P2 Lodge. (Henry Kissinger is alleged to be P2)
When Pope John Paul I became Pope in 1978 he was informed about the allegations of wrongdoing at the Vatican Bank, and instructed Jean-Marie Villot, Cardinal Secretary of State and head of the papal Curia, to investigate the matter thoroughly. Pope John Paul I died after only 33 days in office, leading to claims that he had been murdered as a result of discovering a scandal. Pope John Paul I is generally accepted to have died from natural causes, although some medical experts believe that he may have died from a pulmonary embolism or an adverse reaction to the medication that he was taking rather than from a heart attack as was stated in original press reports of his death.

More on the Vatican Bank…

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But would you believe…..?

The Vatican Bank is under investigation for alleged involvement in a money-laundering scheme using accounts at one of Italy’s largest banks, according to a weekly investigative magazine.

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Strangely, the money laundering is in the same timescale as Madoff’s Ponzi scheme run by Santander.

And lastly, just for good measure:

Bilderberg Group –
Ana Patricia Botin, Executive Chairman, Banesto; Vice Chairman, Urbis; Member of the Management Committee, Santander Group, Madrid

Emilio’s daughter.

Now, forgive me if I’m just stretching here but something smells here. Sure Madoff was a criminal – they all are. BUT, as we know, the criminals never get touched. They get off. MADOFF seems to be a scapegoat in my view.
Look at how many times Botin just walks away from any charges. Then look at how he’s had Rato (Spanish Government and IMF) in his pocket. They’re BOTH Jesuits. There is a strong connection to Angelo Caloia previously of the Vatican Bank (run by the Jesuits). The Spanish Jews have become Jesuits. Botin’s entire family were involved in this Madoff stuff and the Group as a whole had the largest exposure to it of ANY Bank/Fund while only 17M Euros of their own but $3.1Billion of clients’ money.

Yes Santander “made good” on some of the losses by their clients but not a lot at the end of the day. And what did they do? They offered Santander shares rather than the cash.

The bank booked a charge of 350 million euros against 2008 earnings for costs associated with the compensation program. The offer includes stock paying an annual yield of 2 percent and an agreement by clients to forgo any legal action and to keep Santander as their “preferred” bank as long as the shares stay in circulation.
So let’s just imagine for a moment that it actually was Santander and Botin/his family, who cashed in on the loss of their own clients to the tune of $3Billion or so. That cash rich injection could just allow for the buying up of a number of other banks now couldn’t it?

June 1st 2010 UPDATE:

VATICAN BANK UNDER INVESTIGATION
Santander Involvement –

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