Wednesday, 10 August 2011

While millions of Americans face bankruptcy their political leaders launder $trillions to off-shore accounts



Offshore financial centers are the parallel financial services system for criminals: for corporate crooks and fraudsters, tax evaders, drug and arm traffickers, terrorists and for government officials who steal from their countries. The big international banks all have offshore subsidiaries where they can hide the money of clients who are evading taxes at home or committing other crimes. And in many countries, including the United States, it is relatively easy to set up companies and bank accounts without providing documentation about the true owners.

There are about seventy offshore jurisdictions around the world. Among the most famous are Switzerland, Grand Cayman, Luxembourg, British Virgin Islands, Jersey, Liechtenstein. Offshore centers allow companies and bank accounts to keep their records, including owners’ names, secret even from regulators and law enforcement. They apply nor collect taxes, which is why they are known as tax havens. Most of them give these advantages only to foreigners.

Corrupt Western business people, negligent or complicit bankers and offshore tax havens – all the enablers of corruption — make a lot of money by helping the world’s crooks. They provide the capital for those crooks to stay in power, and they tilt the playing field against the interests of firms and individuals who do business honestly.

Offshore law firms set up shell companies – fake or front companies – that have no purpose other than to carry out phony financial transactions to justify the movement of money into the crooks’ secret accounts.

Who in the US government uses offshore accounts and shell corporations? You can start looking at the bottom of the Washington cesspool – none other than former first lady (1st and only first lady to be subpoenaed by a grand jury) and current US Secretary of Sate Hillary Rodham Clinton. Back in 2008, financial disclosure documents filed by the New York senator showed she and her husband, former president Bill Clinton, have made at least $50 million since leaving the White House in 2001. How are they amassing such wealth? Through the Clinton Foundation. Bill Clinton set up this shell charity organization. On the surface it looks like a legitimate charity organization that collects donations for fighting AIDS in Africa and promote sustainable development. But the true purpose has nothing to do with helping the people of Africa. The donations that were received to help the African people have not gone to the African people. It has gone towards building the Clinton Presidential Library and sends the former president around the globe. It is a front. It is just one of many offshore shell companies that is used to launder money that the Clintons, George HW Bush, George W Bush and now Barack Obama have stolen from the American people.

Just a fraction of the money that goes through the Clinton Foundation could build entire towns and villages in Africa. After so many years Africa still looks the same as the day that the Clintons formed the Clinton Foundation. You would think that after so many years the African people would now be cured of AIDs and their living conditions would be greatly improved with the help of the Clintons. After all the Clintons receive $millions from foreign countries and some of the richest people in the World. Over $25,000,000 from The Children’s Investment Fund Foundation and UNITAID. $10,000,001 to $25,000,000 from AUSAID, Bill & Melinda Gates Foundation, Stephen L. Bing, COPRESIDA-Secretariado Tecnico, Fred Eychaner, Frank Giustra, Chief Executive Officer, The Radcliffe Foundation, Tom Golisano, The Hunter Foundation, Kingdom of Saudi Arabia, The ELMA Foundation, Theodore W. Waitt. $5,000,001 to $10,000,000 from bankrupt Government of Norway, Nationale Postcode Loterij, Haim Saban and The Saban Family Foundation, Michael Schumacher, The Wasserman Foundation. $1,000,001 to $5,000,000 from; S. D. Abraham, Absolute Return for Kids (ARK), Sheikh Mohammed H. Al-Amoudi, Alltel Corporation, Nasser Al-Rashid, Smith and Elizabeth Bagley, The Eli & Edythe Broad Foundation, Richard Caring, Gilbert R. Chagoury, Citi Foundation, Clinton Giustra Sustainable Growth Initiative – Canada, Victor P. Dahdaleh & The Victor Phillip Dahdaleh Charitable Foundation, Robert Disbrow, Dubai Foundation, Elton John AIDS Foundation, Entergy, Mr. Issam M. Fares & The Wedge Foundation, Wallace W. Fowler, Friends of Saudi Arabia, Presidential Inaugural Committee, Princess Diana Memorial Fund.

Some of the donors give because their intentions are good and sincere but the majority are made for political favors or as money laundering transactions. Of the total amounts contributed from the listed people and organizations how much has actually gone to the people the foundations is allegedly created for? Where has the bulk of the funds received gone to?

USA Today, in an editorial distributed during the Obama campaign, exposed the true purpose of the Clinton Foundation. Donors, who include foreign governments have pledged more than $500 million to the Clinton Foundation and that money has been laundered. Some of that money was illegally used to fund Hillary Clinton’s failed 2008 presidential campaign bid. A federal statute prohibits persons who are neither U.S. citizens nor permanent residents (that is, holders of “green cards”) from contributing any money to candidates for state or federal office, or to American political parties. The provision was originally enacted in the 1970s.

The Clintons have become repeat offenders of federal election laws. The 1996 United States campaign finance controversy, also known as Chinagate, was an effort by the People’s Republic of China to influence domestic American politics during the 1996 federal elections.

The issue first received public attention in early 1997, with news that a Justice Department investigation had uncovered evidence that agents of China sought to direct contributions to the Clinton-Gore Democratic National Committee (DNC) in violation of U.S. laws regarding foreign political contributions. The Chinese government denied all accusations. Twenty-two people were convicted of fraud or for funneling Asian funds into the United States elections, and others fled U.S. jurisdiction. All were associates of Bill and Hillary Clinton or Al Gore.

What role did the Clinton Foundation have in the 2008 presidential campaign? Hillary Clinton laundered money contributed by foreign donors to her campaign. OnFebruary 6, 2008 the New York Times reported that Senator Hillary Rodham Clinton, facing big primaries against her rival Senator Barack Obama in places like Ohio and Texas lend her campaign money. Her campaign office confirmed that she’d already lent her campaign $5 million of her own money in late January. A statement from her camp:

The loan illustrates Senator Clinton’s commitment to this effort and to ensuring that our campaign has the resources it needs to compete and win across this nation.

Senator Clinton acknowledged the loan, saying: “I loaned the campaign $5 million from my money. That’s where I got the money. I did it because I believe very strongly in this campaign, and we had a great month fund-raising in January, broke all our records, but my opponent was able to raise more money and we intended to be competitive – and we were – and I think the results last night proved the wisdom of my investment.

Hillary didn’t actually reveal where the money came from. The reporters should have asked Hillary where did she get the $5 million. Was it from earnings or was it from the Clinton Foundation? If it was discovered that it came from the Clinton Foundation then she should have been indicted for campaign financial fraud as Clinton Foundation funding is mostly gained from foreign donors. Who tried to influence the 2008 electoral campaign with an illegal $5 million contribution?

Hillary Clinton broke the law when she “loaned” her campaign $5 million. The FECA places limits on contributions by individuals and groups to candidates, party committees and PACs. According to US law an Individual (Hillary Clinton) may contribute a maximum of $2,300 per election to Federal candidates, up to $28,500 per year to national party committees, and a combined total of up to $108,200 during the two year period to all Federal campaigns, parties, and other political committees. In one day, one individual, Hillary Clinton, gave her campaign $5 million – $4,891,800 over the allowed legal contribution limit. Has Hillary been charged for this intentional gross violation of US law?

Where has all the Bailout money gone to?

Hillary Clinton is just one of the many criminals holding some the highest offices of the United States government. Who else is involved? Who else is laundering $trillions through offshore banks and shell corporations? Look no further than those who pushed through the Wall Street Bailouts. George W Bush money laundered $700 billion through the banks that created the United States financial crisis – mainly the privately owned and operated banks of the Federal Reserve. Barack Hussein Obama money laundered another $787 billion to the same banks.

Has these bailouts helped people recover their repossessed homes? Have they helped lift the threat of repossession from millions of families? Evidently not. No tax paying America has benefited from these money laundering schemes. The job creation that Obama has been boasting about are all only temporary jobs. All created to get votes in the last November election. Once the election was over those Democrats jobs ceased to exist.

The jobs that were temporarily created by Obama (”We are the ones we have been waiting for”) amounts to a few $billion. Where has the rest of the $trillion Bailout money gone to? To the Federal Reserve banks’ CEO in the form of “unearned bonuses”, to secret offshore numbered accounts set up for Barack Hussein Obama, Hillary R. Clinton, George W Bush, Bill Clinton, George HW Bush, Henry Paulson, Dick Cheney, Rahm Emanuel, Timothy Geithner ……….., and to the newly created Clinton Bush Haiti Fund – another shell company, conveniently crafted by the Bush Clinton opportunists, that have no purpose other than to carry out phony transactions to justify the movement of money into these crooks’ secret accounts.

No accounting whatsoever

It’s something any bank would demand to know before handing out a loan: Where’s the money going? But after receiving $trillions in aid money from U.S. taxpayers, the nation’s largest banks (all part of the Federal Reserve) say they can’t track exactly how they’re spending the money or they simply refuse to discuss it. Some banks said they simply didn’t know where the money was going.

In US law, money laundering is the practice of engaging in financial transactions to conceal the identity, source, or destination of illegally gained money.

There has been no accounting of how banks are spending that money. At the height of the financial crisis U.S. lawmakers summoned bank executives to the Capitol and implored them to lend the money — not to hoard it or spend it on corporate bonuses, junkets or to buy other banks. Since the bailout monies have been issued the banks have been doing nothing but hoarding the money, giving it to their CEOs as corporate bonuses, buying up smaller banks, and shipping $trillions to newly created offshore banks and shell companies.

There is no process in place to keep track of where the money is going and there are no consequences for banks who misuse and illegally misappropriate $trillions in US tax dollars. “It is entirely appropriate for the American people to know how their taxpayer dollars are being spent in private industry,” said Elizabeth Warren, the top congressional watchdog who attempted to oversee the financial bailout. But, at least for now, there’s no way for taxpayers to find that out.

Pressured by the Bush administration to approve the money quickly, Congress attached nearly no strings on his $700 billion bailout. And the Treasury Department, which doles out the money, never asked banks how it would be spent.

U.S. government and the Federal Reserve are the 21st century mob

The U.S. government bailouts of the Federal Reserve banks are nothing more than an elaborate money laundering scheme. They are criminal acts perpetrated by the presidents of the United States against its investors – the US people. Both Bush and Obama declared that it was in the best interest of the people to invest $trillions to save a handful of banks owned by the Federal Reserve. Their investment of tax dollars was guaranteed by both Bush and Obama. Each and every bank was given more money (tax dollars) than was actually needed. Instead of helping to fix the US financial crisis the governments of Bush and Obama added to the crisis by literally giving away money that in most cases were 4 to 6, even 10 times the entire yearly earnings reported by the banks.

According to a study on executive compensation released by New York State Attorney General Andrew Cuomo:

• Goldman Sachs, which earned $2.3 billion for the entire year 2008 andreceived approximately 4 times their net earnings or $10 billion in TARP funding, paid out $4.8 billion in bonuses in 2008 – more than double their net 2008 income.

• Morgan Stanley, which earned $1.7 billion in 2008 and received approximately 6 times their net earnings or $10 billion in bailout funds, handed out $4.475 billion in bonuses, nearly three times their net income.

• JPMorgan Chase, which earned $5.6 billion in 2008 and received approximately 4 times their net 2008 earnings or $25 billion from the government, paid out $8.69 billion in bonus money.

• Citigroup and Merrill Lynch lost a combined $54 billion in 2008. They received a total of $55 billion in bailouts which they used to wipe out their entire $54 billion debt from their book then put themselves back in debt by handing out $9 billion in combined bonuses. ($5.33 billion for Citigroup; $3.6 billion for Merrill Lynch, which was subsequently acquired by Bank of America.)

• Bank of America earned $4 billion in 2008 and paid out $3.3 billion in bonuses in 2008 immediately after the bank received $45 billion in TARP funds. They were given over 10 times their net earning for 2008. Bank of America used the bailout money to buy up banks including Merrill Lynch which they paid $50 billion for. Bank of America actually money laundered federal aid money – used to purchase high-value items (other banks) to change the form of the money – took tax payers’ dollars and bought other banks.

• AIG was given more than $173 billion in Bush / Obama bailout scheme money. The Wall Street Journal reported that about $50 billion of more than $173 billion that the U.S. government has poured into American International Group Inc since last fall has been paid to at least two dozen U.S. and foreign financial institutions. The newspaper reported that some of the banks paid by AIG since the insurer started getting taxpayer funds were: Goldman Sachs Group Inc, Deutsche Bank AG, Merrill Lynch, Societe Generale, Calyon, Barclays Plc, Rabobank, Danske, HSBC, Royal Bank of Scotland, Banco Santander, Morgan Stanley, Wachovia, Bank of America, and Lloyds Banking Group. American International Group Inc. lost $62 billion in just 92 days or so they declared in order to get $173 billion from the US people. AIG was used by Bush and Obama to money launder more US tax dollars to banks that had already received $billions. They went through AIG to intentionally hide money transactions that were obtained illegally by faked and or falsified bank quarterly financial reports.

Both Bush and Obama actions are criminal, idiotic to say the least. Its a classic case of dumb and dumber. Both have got to be either the dumbest people on the planet when it comes to leadership and handling a crisis or the most craftiest criminal masterminds in the world. How they handled the US economic crisis proves this.

Both Bush and Obama were given an amount that would be needed to fix the problem but they both paid 4 to 6 times the asking price. If you were shopping to buy a good used vehicle and you found one and the asking price was $10,000 would you give $40 – 60,000 to the seller? Of course you wouldn’t. But that is exactly what both Bush and Obama have done. They’ve given away 4 to 6 times the asking price for a lemon. They both illegally took large sums of money from the American people (tax dollars) and poured it into allegedly failingFederal Reserve owned or controlled banks (to this day no evidence or audit has ever been presented or taken to prove that they were actually failing) whichthey (the reported failing banks) used the legitimate banking system to launderthe Bush / Obama money to other banks. The US tax dollars were suppose to be used to buy up all the failing banks’ worthless bad debt (no evidence exists or has ever been presented to actually verify that the money was ever actually used to buy up any bad debt). Instead the money was actually used illegally to buy other banks and write big fat bonus checks to each and every money laundering conspirator – including Bush and Obama.

No sooner had Obama signed his $787 billion bonus plan check to the Federal Reserve bankers in February 2009 than the first major disclosure of corruption were reported by federal investigators in April 2009. The LA Times reported that federal investigators had opened at least 20 criminal probes into possible securities fraud, tax violations, insider trading and other crimes.

The cases represent only the first wave of investigations, and the total fraud could ultimately reach into the hundreds of billions of dollars, according to Neil Barofsky, the special inspector general overseeing the bailout program.

The disclosures reinforce fears that the hastily designed and rapidly changingbailout program run by the Treasury Department and Federal Reserve is going to carry a heavy price.

What started out as a $787 billion effort only to buy toxic securities has morphed into at least 12 separate programs that cover up over $16 trillion in direct financial transfers, zero interest loans, loan guarantees and bank bonuses by and to the Federal Reserve bankers.

I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world. No longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men.”~ President Woodrow Wilson: 1916

America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves.” ~ Abraham Lincoln

Short URL: http://presscore.ca/2011/?p=3550