Monday, October 5, 2009

When banks are morally bankrupt

In the blog 'Cynical Tendency' there is a post (read here) about how secret jurisdictions may try to use the law to silence those who seek to reveal the truth about the jiggery-pokery that goes on behind closed doors in the financial world.

We speculate like this because we suspect jiggery-pokery is at the heart of financial life in the dark recesses of the financial world, especially the offshore financial centres. From the hidden heart of these places springs forth the love of money that is the root of all evil.

Without whistleblowers the man in the street will never know the truth about what goes on right under his nose. But alas! a potential whistleblower only knows a small part of a large system that thrives & spreads like a pernicious cancer in the financial world.

The dark secrets of offshore financial mechanisms is closely guarded by a select few who ensure that no whistleblower could ever reveal anything of any consequence that would lead to a reform of this morally bankrupt business.

The evidence of corruption now surfacing in Iceland needs an army of forensic accountants to sort it out. Sadly they will only get so far in their investigations because they have no financial 'enigma machine' that will break the code necessary to reveal just how far the tentacles of corrupt practices spread throughout the financial web across the globe.

Only the godfathers of it all could reveal all, but they would have no reward for doing so as they have sold their soul to the devil to gain riches that will buy them anything that they would need - except, of course, a place in heaven.

Offshore financial centres can not survive without money. Starved of money they would not last long. Banks never tell prospective customers what they want to know in order that they are better able to make a judgement as to whether their money would be safe in their hands. Banks only tell potential depositors what the banks want them to know.

Dispossessed depositors of the failed Kaupthing IoM bank have mounted a video campaign on under the title: "DON'T BANK ON THE ISLE OF MAN" as itcould seriously ruin your wealth.

Let's hope that they might succeed at removing the need for any of us to have to speculate further about what evil deeds might be cooked up behind closed doors in a financial world that only cares about your money and not you.

1 comment:

  1. Great blog Jim. You have surpassed yourself with this one. The original blog should be compulsory reading.

    Don't bank on the Isle of Man