Submitted by former banker AGXIIK:

We are right at the edge of the 1 year anniversary of the  April 2011 silver price smack-down.  Without going back and analyzing the charts for every price hit since then, we have had about 6 or so price hits since  the big blast.  Each time it took more ounces of paper silver traded, ranging from 50 to 625 million ounces, to accomplish less and less.  It reminds me of the old saying in the con  game.  A good con artist always goes back to their mark a second and third time.  The grifter knows the con will work again and again because the mark never learns from their  prior mistakes.  At the risk of offending some bankers out there, this same philosophy and manipulative psychology exists in banks.

A bank today is basically a sting operation.
The bankers use OPM insured against total stupidity by the now bankrupt FDIC to loan out ZIRP cost dollars at Nunzio rates. No offense intended to the knuckle dragging  hard money people.  If a banker didn’t have a job at bank, they might be fit to serve coffee at Starbucks.  It’s that real.

When the banker comes calling, all the  mark sees is  dollar signs.  He’s thinking, “how do I get money from this slimeball without getting burned.”  Knowing the con is totally rigged, set up better than a street corner game of Three Card Monte, all  the banker  sees is  a fat hog  waiting to be butchered.  ISYN.

I won’t go into the gruesome details of how my banker buddies view clients but that  butcher is more humane to the  critters he plans to display in his shop. At least he doesn’t toy with his inventory.  Bankers know they can play their customer, seducing them with trinkets as trivial as a nice lunch, a toaster, or a round of golf.

The mark, er, I mean the highly valued client, is told what an important assets he is to the bank.  Important asset?  Yeah right. Like  a side of beef or a rack of pork chops is important to the butcher.  The bankster simply uses the clients desire to cozy up to the Daddy War Bucks boys, getting a little peek at the inside action and before you know it,   Mr Mark get a bump rate after pledging everything he owns to secure that loan.  If he misses a payment, look out. Then the goon squad is called in to take over.   This action  reminds me of the scene in Full Metal Jacket when the soldiers are told by the hooker  “Me so Horny, me love you long time”   Ain’t nothing Too Beaucoup for a banker however.  You have been warned.

  1. I stay hopeful, crazy as it may seem, that the proverbial can–can be
    kicked down the road, for a long time to come. I have no love for banks. But I
    do have love for an awful lot of people, family & friends that will suffer
    ji-normously if/when the dollar crashes. Not everyone is as forward thinking as
    most who read here. They really don’t get it–or worse are completely deceived,
    which by definition means they have been fooled. I feel bad for all of them–all
    of us.
    Truly I enjoy having running water, food around the corner and all the
    conveniences of life in the USA. I’m just a child of my time & in no way
    hoping the banks crash. (And everyone should ask themselves just where does
    my Credit Union Bank too.) Hope aside it’s clear painful awaking is at our
    doorstep. I hope it can be delayed for a long, long time.
    “….Well, you can hope in one hand and crap in the other. See which one
    gets filled first”
    —Burgess Meredith ‘Grumpy Old Men’ 1993
  2. Good post AG. This is true and it’s not only bankers. We have become a society of “gotta have the latest fad” material slaves. Bought a car last year that came with 6 free months of Sirius XM radio. When the 6 months was up, I was billed $89.00 for the next 6 months and I promptly cancelled. Soon Sirius contacted me with a 6 month $39.00 offer. I said no thanks. A little later they said there was a special at $12.00 for 6 months. Nope. Last week the final offer was $5.00 for 6 months. I finally told them no and not to contact me anymore. They asked how can you pass up such an offer and “we miss you”. I said “Easy, you should have given me that offer the first time instead of trying to rip me off every 6 months”.

    I’m glad we have a former banker on this site to educate us in the fine arts of how not to get manipulated.
  3. 4 oz,

    Just my opinion, but the sooner the Ponzi Scheme is ended, the better. the 2008 Financial Crises was just a warm-up. The longer the can is kicked down the road with no real solutions being implemented, and instead, the ponzi being defended tooth and nail, the worse the Real Crash will be. Perhaps you can’t hear that giant sucking sound of the wealth that’s been created being sucked out of the people and this country, but I can.

    An Andrew Jackson quote for you to consider…

    Gentlemen,
    I have had men watching you for a long time and I am convinced that you
    have used the funds of the bank to speculate in the breadstuffs of the
    country. When you won, you divided the profits amongst you, and when you
    lost, you charged it to the bank. You tell me that if I take the
    deposits from the bank and annul its charter, I shall ruin ten thousand
    families. That may be true, gentlemen, but that is your sin! Should I
    let you go on, you will ruin fifty thousand families, and that would be
    my sin! You are a den of vipers and thieves.”

    I also believe that, if a crash were to happen:

    A new market structure would appear almost overnight, as if by an invisible hand.

    Would there be some pain at first? You bet! Probably even for a while. Who would feel the most pain? Those that were a partaking in the ponzi scheme. I know I wouldn’t be the target of torches and pitchforks, because I’m not a part of the ponzi.

    The longer the can is kicked, the bigger it becomes. Until it’s no longer a can, but is instead a BOULDER.

  4. You’re right AGXIIK, that’s exactly what national banks are.  I’m real grateful I’m at a credit union and don’t have to experience outrageous fees, six video cameras and an armed guard in a building with no windows.  I’ve said it before and I’ll say it again, that’s prison.  Not to mention the critical attitudes I’ve seen directed at my friend who banks at bank of america.  Every time he goes to cash his paycheck they take 8 dollars out for a fee and his fricking companies checks are from bank of america.  These krooks get away with it because the sheeple are gullable and foolish and never think outside the box.

  5. I also expect the Derivatives Market collapse is gonna hurt quite a few bankers with no remorse from me. I already removed my silver and gold from my banks safe deposit box as I don’t trust what’s gonna happen in the future.

  6.  

    My wife is a mortgage lender at a canadian bank. I gotta say she actually cares about her clients and goes above and beyond to make sure they understand what they are getting into and what the potential ramifications are if rates change. She actually forces her clients to read contracts before she will let them sign. Definately an exception to the rule.

    Her client base got so big and dedicated to dealing ONLY with her that the bank actually promoted her to head of the training department for new lenders.

    She would agree with AGIIX that most banks would settle for x barista employees as long as they keep bringing in the “marks”

    Personally…. I use a credit union.  The only downside is they are not covered by the FDIC, so I risk losing my paltry savings :-)

     

  7. Being  a former Canadian  I have met some good bankers in Canada.  The fact is that some banking is benign if it’s at the grass roots level.  We would have a heck of a time without some form of lending institutions available for consumer and business loans which is why I recommend that people use the smaller community banks and credit unions.  The FDIC is insurance against banker stupidity  I expect that your credit union is run by sane thoughful people not something out of Bedlam where the inmates run the asylum.  I wish you the best .

    There have been some upsetting stories that the big banks got some large bailouts recently and that the system is a little shaky, largely due to the C bank exposure to home prices and the toxicity of being so close to the USSAs FIAT based WMDs.  Whats your take on that situation?

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