smlpublicmedia

Genius @zerohedge: banking = “indulge in hazardous speculation such as gambling in the global derivative casino”

http://www.zerohedge.com/contributed/2013-05-15/no-bank-deposits-will-be-spared-confiscation

In plain simple English – bankers cannot be prosecuted for breach of trust, because it owes no fiduciary duty to the depositor / customer, as he is deemed to be using his own money to speculate etc. There is absolutely no criminal liability.

The trillion dollar question is, Why has no one in the Justice Department or other government agencies mentioned this legal principle?

The reason why no one dare speak this legal truth is because there would be a run on the banks when all the Joe Six-Packs wise up to the fact that their deposits with the bankers CONSTITUTE IN LAW A LOAN TO THE BANK and the bank can do whatever it likes even to indulge in hazardous speculation such as gambling in the global derivative casino.


#banking #facts #money #analysis #finance #zerohedge #banks #genius #screenshots #opinions #world #economy #law #lol
#SMLScreenshots #SMLPublicMedia #SMLUniverse #SMLFinance #Crazyisgood (at SML Universe Limited)