Friday, 24 February 2012

Trillion Dollar Fraud



Last week I read this and decided I would be well out of my depth giving any opinion other than 'you couldn't make it up'.

Yesterday Edward sent me this link and I've decided the matter requires as much promotion as possible because - not least - it involves the Bank of Scotland and Lord James of Blackheath has a long financial career in the City of London behind him.

I see little reporting of it in the MSM and total silence from the establishment. Somehow I don't think Lord James will be intimidated by this, do you?

20 comments:

WitteringsfromWitney said...

SR, I 'tweeted' exactly the same comments as yours!

And who will listen?

Crinkly & Ragged Arsed Philosophers said...

I think this is black money created during Reagans time to destabilise the rouble during the cold war.

The Bush Snr dynasty found out about it a let it loose off the books out of sight and mind until such time as it could be filtered through and laundered.

You could spend a million a day through your, your sons and his son's lifetime and still have healthy numbers followed by six noughts in the bank.

Bet you they've done well out of it and it puts John Majors half million a year from their Carlyle group into perspective.

dognamedblue said...

lord james stood up in the house of lords & said he used to launder drug money for the ira & bank of england "it was my job", there's a lot more to this story than 15 trillion [or 56 trillion], the rbs is in up to it's neck, mark the 31st march in your diaries ;)

subrosa said...

WfW, nobody seems concerned.

subrosa said...

The amount of money is mind blowing Crinkly, but then I've always wondered where all the money came from.

subrosa said...

Dognamed blue, I've done that and look forward to what is to be disclosed.

RMcGeddon said...

I heard about this story a couple of years ago SR and assumed that the Lord had fallen for one of those Nigerian 419 scams.
His speech last week in the Lords was a bit poor. A bit doddery and full of mistakes , with no proper presentation, so it doesn't make me think it's anything but a scam. That Riyadi bloke is alleged to be a filipino fraudster. But who knows these days lol

Woodsy42 said...

Good job none of it is real money and only numbers in computers.

subrosa said...

Who knows indeed RM, but there's certainly abundant fraud in certain areas of western society which is affecting the wealth of the hoi polloi.

subrosa said...

So much of it is Woodsy. That's why the banks managed to get in so much trouble, selling non-existent 'money'.

Leg-iron said...

And yet Scottish fishermen have just been heavily fined for landing more fish than the EU allows. They should have thrown them back, dead, into the sea.

The scale of that operation was, quite literally, a drop in the ocean compared to what the banks and governments have been doing!

RMcGeddon said...

I was thinking that myself leggie.
Imagine getting fined for catching fish lol
The other EU fishermen with their secret holds on their boats and indiscriminate factory ships hoovering up the catch will be laughing their heads off.
We've handed £320Bn worth of fish to the EU since we joined up in the 70's . Our £60m of 'illegal' fish isn't even a rounding up figure in that massive theft from our seas.
Hopefully the Shetland fishermen will be getting free pints in the bars this weekend.

subrosa said...

You're right LI and they were on the side of the consumer because they kept the prices down.

The SG say they were naughty boys. Pity they don't say the same about the Spanish etc.

subrosa said...

Ah, RM I see we're thinking along the same lines.

dognamedblue said...

so many rumours [from a gold backed currency to the queen being involved & having to step down] doing the rounds, all we can do is sit back & enjoy them

I'm hoping that on the 31st the world realises that the current financial system is in such a mess that we have a "jubilee" & all the worlds debts are written of to be able to start again
I can but dream

subrosa said...

I wish I was as optmistic as you adognamedblue. But I look forward to the rumours. :)

Surreptitious Evil said...

Well, there's quite a lot in that statement which is incorrect or dubious.

Firstly,

"overnight European MTN trading market where they can earn between 1 per cent and 2.5 per cent profit per night."

Err, no, not "per night", although that is how you place it. Per annum. Used to be higher, of course but interest rates, real and central bank, are pretty low nearly everywhere.

It is easy to throw large umbers about and blind people - it is how most City fraud happens. You spend minutes investigating this sort of thing, you get very cynical.

BTW: "It is available on the internet". Okay. But hardly a guarantee of genuineness!

subrosa said...

Thanks SE. I'm one of these people who are intimidated by 'high' finance although I can't understand why. I deal with 'low' finance every day of the week.

Agree with you about the internet. It's becoming more difficult to search for truth these days.

www.greenworldbvi.com said...

Not surprising to hear something like this. And RBS is a total joke. Bank shares have been going up lately, but is a classic trap and I'm sticking with alternative investments like forestry and farmland. The stock market is utterly manipulated by the BOE and big banks.

subrosa said...

greenworld, I prefer to keep my money with a reliable bank such as the Airdrie Savings Bank.

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