Standard Chartered could lose banking license on possible money laundering charges

August 6, 2012 by · Leave a Comment
Filed under: Legal News 

The bad news just keeps coming.  On the heels of HSBC having possible terrorism funding links, now Standard Charter look to have violated the sanctions on Iran by the order of $250 BILLION in transactions that should not of happened, this is even after the said they cuts ties with the Iranian Government in 2007.  When are we going to hand down the “Rule of Law” and make it apply to everyone?   How long are the antics going to be tolerated by the general public.

We are now calling outright “Fraud”, “Mis-selling” to make it sound not so bad.   White collar crimes are the worst of the bunch in my book because it involves people who have the means and intelligence to know better but choose to commit crimes.   If I go rob a store, I can’t go into court and settle without admitting guilt.   Some of these crimes I read about daily, show nothing but guilt but we can’t seem to be able to put anyone in jail.   Are we that captured as a society?   Do we really not have the spine and gut to do what needs to be done regardless of the cost?    I want everyone to ask themselves these questions tonight and think about that every-time you read another one of these stories.

I try everyday not to become numb to this because I believe we will have a moment of clarity and then and only then we will see meaningful change.   In my opinion, this is the civil rights issue of our time.   Will the civil have the same laws as the privileged and will the sword of justice come down equally on both groups of class?

WSJ – British banks just can’t seem to stay out of trouble with U.S. regulators. Barclays paid a huge fine for its role in manipulating Libor. HSBC then came unstuck on money-laundering charges. Now it is Standard Chartered’s turn.

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Iran switches monetary reserves to gold bullion

November 17, 2008 by · Leave a Comment
Filed under: Global News 

This is just another instance of the mainstream press slowly talking about gold and its position as a tried and true form of money and protection of wealth.  Once this crisis passes, I do see that a new currency will appear that will be either backed by gold or its exchange rate will be based on the spot price of gold.  

With this debt-based fiat money system, we have gotten to the point where we do not have much real value behind it because we issue it too freely to fix symptoms of problems and not there causes.  Iran is switching over because they want to make sure they have something of intrinsic value backing there reserves.  With the current price, this is a pretty smart move on their behalf.

Release:

 

Iran has converted financial reserves into gold to avoid future problems, an adviser to President Mahmoud Ahmadinejad said in comments published on Saturday, after the price of oil fell more than 60 percent from a peak in July.

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Russia interested in forming gas troika alliance with Iran

November 3, 2008 by · Leave a Comment
Filed under: Commodities News 

This is to be expecting going forward in the resource-centric era we have entered.  As important resources such as crude oil and natural gas dwindle, more we will see countries that have reserves of these resources consolidate their interests with other like minded countries.  This alliance alone, will unite 40% of the world’s proven natural gas reserves.  Next we should see actions that are consistent with maintaining an price that is elevated or near current levels.  We will just see production drop off significantly if the prices dip too low.  Countries that rely on petro-dollars have a vested interest to maintain a price level that does not collapse as we did  in the early 90’s.  The Financial Times even had a front page story last week that announced that the global annual decline rate was 9.1%.  That is no small amount of loss, we would need to double our fossil fuel production in around 10 years just to keep steady.  We need to start a massive spending program on renewables (focusing on wind & solar) right now so we can reduce our demand nationally.  We want to avoid friction between major powers at all possible during our transition periods.  

Reuters:

Russia is interested in gas swaps with Iran, Iran’s Oil Ministry news website reported on Saturday, in a fresh sign of efforts to deepen ties between two states who together account for 40 percent of world reserves.

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