Former banking industry insider confirms that banksters take free money from the Fed and lend it back at interest!
The 21st century fraud by the banking mafia that has become a norm after the 2007-08 financial crisis
Nomi Prins worked as a managing director at Goldman-Sachs for 2 years and as a Senior Managing Director at Bear Stearns for 7 years, and was a senior strategist at Lehman Brothers and an analyst at the Chase Manhattan Bank.
From the description of her latest book Collusion: How Central Bankers Rigged the World, we read:
Central banks and international institutions like the IMF have overstepped their traditional mandates by directing the flow of epic sums of fabricated money without any checks or balances. Meanwhile, the open door between private and central banking has ensured endless opportunities for market manipulation and asset bubbles--with government support.
Speaking to Chris Hedges, Prins reveals the greatest fraud of all times by the banking mafia. What the establishment mouthpieces would be painting as ‘crazy conspiracy theory’ up until a few years ago, it has become a norm, after the 2007-08 financial crisis.
As Prins says:
Private banks could access money at no interest. And not only that. They could use this no-interest to buy Treasury bonds, give them back to the Fed, and receive a quarter of a point interest from the Fed!
So, not only they were getting money effectively free, they were also getting interest for buying bonds with that money - which is only one of the activities that they did with that money - and giving it back to the Fed! Because this was considered an emergency, crisis-related activity. Now, that still is in effect today. It has become the new normal.
Who could imagine that the banking mafia would expand its parasitic activity, even beyond the standard fraud-functioning banking system, described in the 2006 animated documentary 'Money as Debt'?
Again, this new big fraud became a norm after the 2007-08 financial crisis. At the same time, millions of people lost their homes, lost their jobs, saw their properties taken by the same banking parasites that created the big bubble.