As Iceland discovered, it is not simply a case of bad administration, it is systemic corruption that is fertilised by greed and power lust endemic in politics and financial institutions. What happened in Cyprus is simple theft. If I broke into your bank account and took money, leaving in exchange IOUs I would be locked up. Why are the politicians and bank administrators involved in stealing from Cypriot bank account holders not prosecuted? Because the justice system is included in especially the freemasonry magic circle that grants immunity to members for any crime however heinous.
Banks have been getting away with laundering billions in profits from the illegal drug, adult and child trafficking and arms trades. They get fined a few million because of the cronyism that especially freemasonry has enabled. Someone that maybe is or was in "the club" has had enough -
Big banks take advantage of money laundering epidemic in US
The attorney general of the United States says the country’s largest banks may be too big to jail, but the former chief economist for the International Monetary Fund isn’t exactly convinced.
Simon Johnson, the former top IMF economist and a current professor at the MIT Sloan School of Management, published a blistering editorial in Bloomberg News this week that makes an argument for imprisoning the banksters responsible for the nation’s last financial crisis — and possibly the next one — much to the chagrin of Attorney General Eric Holder.
Large international banks, writes Simon, are guilty of money laundering to the degree of epidemic proportions. If recent admissions from the biggest name in the American economy are any indication, though, they have nothing to fear.
“Governor Jerome Powell, on behalf of the Board of Governors of the Federal Reserve System, recently testified to Congress on the issue, and he sounded serious. But international criminals and terrorists needn’t worry. This is window dressing: Complicit bankers have nothing to fear from the U.S. justice system,” writes Simon.
What has enabled the boom-bust bubbles that enable financial houses to profit on the rise and collapse of economies? Simply debt currency. At the front end, politicians subscribe to it because it allows them to spend without the constraint, the deal where government bonds are exchanged with private banks for currency is the fraudulent part where both sides, the politicians that allow it and the banks that perform the service are effectively defrauding the taxpayer. The system meets the criteria of a Ponzi scheme where bond creation reaches a point that a lunatic level is required simply to make enough to meet interest payments to the private bank. This is seen in the so called quantitative easing made famous by "helicopter" Bernanke who is on his fourth such inflationary extravagance. It isn't reflected in cost of living immediately because the money is kept out of the system by banks that use the money to gamble and pay debts and record bonuses. The debt currency system was created ostensibly to repay WWII commitments, a criminal arrangement between private banks and complicit governments was introduced where the gold standard was abandoned. It was never intended to be long term. Successive governments since the war have played along with the debt currency fraud, none of the crooked politicians has gotten poorer for their deception to my knowledge.
Rick Moran summarised Stockman's analysis of the inevitable collapse.
Stockman: The End Is Near and There’s Nothing We Can Do About It
I’ve read a lot of doom-and-gloom analysis from financial experts over the last couple of years, but this one by former Reagan OMB Director David Stockman takes first prize for scaring the holy living beejeeses out of me
The article by Stockman is here - State-Wrecked: The Corruption of Capitalism in America
There are 2 ways to go. Either governments print unsupported debt free currency or they return to the gold standard, and get the majority of the debt to banks written off as obnoxious by the UN, or simply prosecute the banks and politicians for fraud. A third way is very difficult due to years of conditioning by the media services and "nanny" government. That is for local communities to establish community banks and issue their own currency.
The UK regime tries as the US regime did for decades, to pass the BoE off as a public bank. It isn't, and for that reason a full list of shareholders is not available to the public and beneficiaries beyond HMQEII and the Rothschild family (that is very likely related due to Q. Victoria reproducing by a Rothschild as P. Albert was infertile) are kept secret.