Did You Know Banks Can Legally Steal Money From Your Private Checking Accounts?

where-is-my-money

US courts have ruled that banks and third parties claims to customer
deposits pledged by banks as collateral have seniority over the original
depositors.
~ Susanne Posel

In 2007, the Sentinel Management Group (SMG) collapsed, leaving many
customer segregated funds lost after they had been used as collateral.

After a plethora of lawsuits and creditor claims, a decision earlier
this month in the 7th Circuit Court placed the banking cartels ahead of
customer claims for funds returned.

Essentially, the Bank of New York
Mellon (BNYM) sued to be first in line for return on stolen customer
account monies – and won the right by the US court system.

In the mainstream media (MSM), the SMG collapse and subsequent ruling
in favor of BNYM was touted as a difficulty “for customers to recoup
money lost”.

SMG, a Chicago-based futures broker, had stolen more than $500
million in segregated customer funds to use as collateral on a loan to
BNYM for in-house proprietary trading operations.

Their books were
audited by the National Futures Association (NFA), however the NFA
admitted that they could not understand the convoluted mess they were
provided by SMG to sign off on. And yet they did; and approved the
audit.

BNYM sued SMG to re-coup any monies owed to them. However, these
monies were customer segregated funds that SMG stole and
re-hypothecated.

In federal court, John D. Tinder, US Circuit Court Judge ruled “that
Sentinel failed to keep client funds properly segregated is not, on its
own, sufficient to rule as a matter of law that Sentinel acted ‘with
actual intent to hinder, delay, or defraud’ its customers.”

This means that once a banking customer deposits their money into an
account with a bank, the funds become property of the bank.

The
customer, at the point of deposit, relinquishes all rights to that money
regardless of any laws in place, legal assurances, claims or
guarantees; and this extends from investments to private checking
accounts.

Once the bank has physical possession of your money, they own it and
can use it for any means they deem fit. The veil has been lifted on
separation of customer and bank funds. They are now legally co-mingled.

The bank could use it as collateral (as SMG did), to pay off debts,
or place it on the stock market to bump up their trading with extra
cash. And in the event that the customer allocated funds are lost, the
bank does not owe the customer the money back.

Essentially, once you deposit money in your bank account it is gone.

Fred Grede, SMG trustee remarked: “I don’t think that’s what the
Commodity Futures Trading Commission had in mind. It does not bode well
for the protection of customer funds.”

The MF Global (MFG) scandal rocked the investment world because Jon
Corzine, chief executive officer of MF Global, instructed the transfer
of $200 million from their customer segregated funds to cover the
corporation’s overdraft account with JP Morgan Chase.

Corzine emailed this order just three days before the official
collapse of MFG. At the same time Corzine was moving customer money,
this missing $6.3 billion dollars were used on bets on European indebted
nations. As those European nation’s credit ratings plummeted, JP Morgan
profited financially.

Our financial institutions have been planning for a financial
collapse wherein the US government will not offer assistance.

The
resolution plans required by the Federal Reserve Bank, described schemes
to have the major domestic banks remain afloat by selling off assets,
finding alternative sources of funding, reducing risky measures that
make a quick buck.

These strategies were to be perfected with “no
assumption of extraordinary support from the public sector.”

By selling “non-core assets” without upsetting shareholders while
protecting the monetary system, taxpayers and creditors is the work of
the mega-banks who have contributed solely to the destruction of the
global financial markets.

Bank of America (BoA) and Citibank have
already begun to liquidate some of their assets – an action a bank takes
when they are insolvent.

Both mega-banks and credit unions have been silently altering their
deposit/withdrawal policies to deter customers from emptying out their
accounts.

Because the digital record of monies is greater than the physical
cash held by banks, this is a scheme to stave off a “run on the banks”.

With the Patriot Act , signed in 2001 by former President George W.
Bush, and extended in 2011 by President Obama states that all banks must
record all banking transactions with photo ID and fingerprints that
will then be sent to an FBI database wherein all banking information
tied to each individual on file can be traced for future reference.

Of recent, when withdrawing cash from an ATM, the daily allotted
amount has decreased with some banks, thereby forcing the customer to go
into the branch and extract the difference with a teller.

At this
point, according to anonymous informants, the customer is taken into a
backroom to be questioned as to why they want the cash, what they are
purchasing with the cash, why they are not choosing to use a debit card
or another form of digital trade to make the purchase. These questions
are not only intrusive, they are illegal.

Some anonymous sources have said that banking representatives who
conduct the integrations are directed to keep a record of customer
responses on an online application that will be sent to the FBI in
conjunction with Patriot Act mandates on tracking banking activity.

While American citizens sit on the fence about whether or not they
even subscribe to a banking collapse in the US, globalists like George
Soros are investing heavily in gold.

Soros recently “unloaded over one million shares of stock in
financial companies and banks that include Citigroup (420,000 shares),
JP Morgan (701,400 shares) and Goldman Sachs (120,000 shares).

The total
value of the stock sales amounts to nearly $50 million” and then
purchased 884,000 shares of Gold with SPDR Gold Trust.

The mega-banks, through Wall Street, are also acquiring firearms,
ammunition and control over private mercenary corporations like DynCorp
and ‘Blackwater” as authorized by the Department of Defense (DoD)
directive 3025.18 .

DynCorp is a military-based private mercenary contractor that
provides (among other services) intelligence training and support,
international security, contingency plans and operations.

Ninety-six
percent of their funding is based on annual revenues from the US federal
government. The international branch of DynCorp has operated as a
“police force” even assisting local law enforcement during Hurricane
Katrina.

Named as investors for the amassing of gun and ammunition
manufacturers are Citibank, BoA, Barclays and Deutsche Bank who are
pouring money into Cerebus and Veritas Equity who have taken over
private corporations involved in the controlling riot situations.

The Federal Reserve Bank, one of the heads of banking cartels, has
their own police force which operates as a protective security for the
Fed against the American public.

As part of the Federal Reserve Act
signed in 1913, the designation of a Federal Law Enforcement – special
police officers that are exclusively regulated by authority of the Fed
(whether in uniform or plain clothes.

These specialized police officers
(who train with Special Response Teams) can work in tandem with local
law enforcement or US federal agencies. These officers are heavily armed
with semi-automatic pistols, sub machine guns and assault rifles as
well as body armor.

Just this month, the Kaspersky Lab discovered Gauss, a banking
surveillance virus believed to have the capability of stealing money out
of customer’s bank accounts, as well as spying on banking transactions,
stealing login information for social networks, email and instant
messaging.

So far, Middle Eastern banks have reported having been
affected by Gauss – however both Citibank and Ebay’s Paypal have also
been infected by this new viral threat to our banking systems.

It is clear that the financial collapse could be eminent. Banks are
not only preparing with contingency plans, but also amassing a private
police force for protection. With the legalization of stealing from
customer secured funds, combined with a possible banking virus that
could provide the perfect cover for an all-in-one banking holiday, the
stage is being set for utter financial destination.

Once all customer funds were electronically transferred into
off-shore accounts, the specialized police forces and hired mercenaries
would be allocated forward to protect the technocrats from retaliation
for their crimes.

The banking holiday will not come with flashing neon signs. Our warnings are right in front of us, if we choose to see them.

Source

 

November 10, 2015 – KnowTheLies

 

Source Article from http://www.knowthelies.com/node/10914

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