Coast to Coast AM -
Live Nightly 1am-5am EST / 10pm-2am PST
FAST BLAST » 

shows

Banking Fraud Special

Date: 08-25-12
Host: John B. Wells
Guests: Robert Mazur, Barry James Dyke, William K. Black, John Truman Wolfe

Four banking experts (Robert Mazur, Barry James Dyke, William K. Black and John Truman Wolfe) joined John B. Wells, in separate hours, and exposed the terrifying truth about how corrupt bankers and businessmen manipulate complex international financial systems to serve drug lords, politicians, tax cheats, and terrorists.

In the first hour, Robert Mazur shared his insights into the shadowy world of international money laundering, which he learned via a two year undercover investigation for US customs. In recounting his story, Mazur noted that he worked with a Panamanian bank where techniques of money laundering were brazenly discussed and served as a veritable "crossroads of drug traffickers, politicians, and the intelligence community as well." Mazur explained that many American banks which are caught laundering money, often via the massive illegal drug trade, are offered "deferred prosecution" where the US government monitors their transactions for a year and simply fines the organization. He cited a recent such case where Wachovia was caught soliciting "400 billion dollars in US dollar deposits from account holders in Mexico" between 2004 and 2007.

Author Barry James Dyke joined the program in the second hour and expressed concern over how average citizens are being misled by the financial community, particularly in the form of 401k plans. Calling them "unregulated speculation," he likened 401k plans to slaves being convinced to build pyramids for the pharaohs. As such, he advised people to invest in themselves first, get out of personal debt, and practice financial patience while eschewing the idea that becoming rich can happen overnight. "We've got to end this 'instant' mentality in the United States," he mused, decrying the "casino nature of everything." Observing that it took decades for the economic crisis to develop, Dyke said that "1% of the time, it will get rebuilt. I believe that with all of my heart."

During the 3rd hour, William K. Black discussed the lack of legal accountability for banks in modern times. He recalled how the Savings and Loan crisis resulted in the prosecution of "roughly 300 institutions and 300 individuals" that were convicted 90% of the time. Contrasting it with the current economic crisis, Black lamented that not only are CEOs looting companies, but they are provided with bailouts and allowed to keep their job. "We're all being played for chumps," he observed, "this is American style crony capitalism" In light of the "revolving door" between the banks and government regulators, Black surmised that the best way to solve the problem would be to put pressure on prosecutors, via the media, to hold crooked CEOs accountable for their misdeeds.

In the final hour, John Truman Wolfe contended that the financial crisis has been orchestrated in order to collapse the US dollar and replace it with a "global monetary authority, which is essentially a global financial dictator for the planet." While he conceded that this sounds extreme, Wolfe revealed that just such an entity, known as the Bank for International Settlements, was created in 2009 at the G20 Summit. The BIS, he said, serves as central bank for all the centrals banks of the G20 nations. Wolfe warned that the "fiscal autonomy of the United States, whatever there was of it," was usurped by the BIS when President Obama signed on to the agreement. He suggested that, since joining the BIS requires Congressional approval, people need to contact Congress and demand regulatory oversight be added to the agreement.

Related Articles

Neil Armstrong R.I.P.

Neil Armstrong R.I.P.

Famed Apollo astronaut and the first man to walk on the moon, Neil Armstrong, passed away on Saturday at the age of 82. Armstrong's achievement captivated the world, made him an American hero, and secured him a place in human history that will never be forgotten. In light of his pioneering role in space exploration, Armstrong will also forever be linked to esoteric lore via rumors of UFOs on the moon as well as a variety of lunar-based conspiracy theories. More on the life of Neil Armstrong, including footage of his historic moon walk, can be found at Space.com.

Bumper Music

Bumper music from Saturday August 25, 2012

most popular

coast mobile

iPhone / Android Users:
Our website is now optimized for small screen devices. Enjoy a better Coast experience with the browser of your mobile device.
Mobile Apps:
Our iPhone and Android apps are also available.

calendar

Check out our calendar for George Noory's public appearances in 2014.

e-newsletter

Sign up for our free CoastZone e-newsletter to receive exclusive daily articles.

twitter