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Gold and Silver is Money - The banks have no rules now

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Uploaded on Dec 9, 2009

Handcuffing regulators to GAAP or distorting GAAP to always fit the needs of regulators is inconsistent with the different purposes of financial reporting and prudential regulation, Mr. Herz said in the prepared text.

In other words the regulators, that make sure the public is protected from the banks, should not have any rules or guide lines. lol

Regulators should have the authority and appropriate flexibility they need to effectively regulate the banking system, he added. And, conversely, in instances in which the needs of regulators deviate from the informational requirements of investors, the reporting to investors should not be subordinated to the needs of regulators. To do so could degrade the financial information available to investors and reduce public trust and confidence in the capital markets.

In other words, investors want to hear only good news, so banks want to provide it to them via Creative Accounting Practices (CAP) aka lies, steeling or counterfeiting. LOL

If I where a bank I would think of a way to create debt that will never be paid back but the lender will always pay the interest (like the federal gov) and a huge kick back of the principle as a fee.

That is a simple scam but I am sure the bankers will think of more creative ways to create money without getting caught directly doing it.

ThemodernMystic showed me this story...
http://www.youtube.com/watch?v=zGFQWq...

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