Tuesday, June 04, 2013

Liberty Looted

Liberty Reserve's banking system was brazenly attacked this week.

I've no money in the Liberty Reserve system. I don't know much about them. But it's now clear the forces of good and "justice" are themselves corrupt.

Can we expect anything else? The 'haves' protect themselves.

I've no doubt crooked people may be involved with Liberty Reserve. But many or most depositors & workers were normal people.

Justice officials did not close NASDAQ when former NASDAQ Chairman Bernard L. Madoff was arrested for Securities fraud; Investment advisor fraud; Mail fraud; Wire fraud; Money laundering; False statements; Perjury; Making false filings with the SEC; (and) Theft from an employee benefit plan.

HSBC, one of the establishment's biggest banks (largest bank in Britain) was deeply involved in money laundering, and last December was allowed to pay the US Department of Justice $1.9 billion in fines. Big penalty, but no criminal charges, and rather quietly handled. "HSBC expressed its regret" and "top executives will defer part of their bonuses" (link) -- Meanwhile, Liberty Reserve is dismembered, its executives arrested, and depositor funds frozen. Monies are now in serious danger of being lost or stolen in the huge mess.

The case is a huge gift to the large established banks. Putting your money with smaller startups risks confiscation or prosecution. We're buggered again by big capital.