Posted Jan 17, 2023 by Martin Armstrong
COMMENT: I know you saved Mercedes making back their $1 billion lost all because they listened to the fake news about how the pound and the dollar would crumble in the face of the euro. I read the 2011 Barron’s article on your forecast. It was OK to publish that when they thought you would be wrong. Where is the follow-up when you proved to be the only one who was correct? The same can be said of the New York Times and especially Bloomberg. It is obvious that they will not report on the success of your forecasts because they are leading society at the direction of the Deep State.
Keep up the good work. We need someone independent in this time of darkening clouds.
REPLY: Let me explain something. All the hype about Bernie Madoff is also FAKE NEWS. On December 10th, 2008, Madoff’s sons Mark and Andrew covered themselves most likely at their father’s direction, and told authorities that their father had confessed to them that the asset management unit of his firm was a massive Ponzi scheme. They even supposedly told them it was “one big lie”. The next day, agents from the FBI arrested Madoff and charged him with one count of securities fraud. There was no possible way the FBI would arrest someone like that without an independent investigation.
The Securities and Exchange Commission had previously conducted numerous investigations into his business practices. Never did ANY audit uncover such a massive fraud. It was then on March 12th, 2009, when Bernie Madoff simply pleaded guilty to 11 federal felonies and admitted to turning his wealth management business into a massive Ponzi scheme. He was not even indicted. He pled simply to what is known as an “information” so nothing was even presented to a grand jury. That is UNPRECEDENTED! As was the case one day after he allegedly confessed to his sons. There was NO FBI investigation! Things do not work that way.
The banks all claimed that they had “no idea.” Before Madoff died, he did an interview where the headline was that the Banks had to have known. There is ABSOLUTELY no way that the banks were NOT involved or had no idea. That is legally impossible. As a client of a bank of that size especially, the bank must fill its files with KNOW YOUR CLIENT rules.
In my case, we had companies set up for each note in Turks & Caicos. The bank actually sent someone down there to audit the legal structure behind every note we ever issued. That was the law! There is simply no way a bank can even claim it had no idea. That was a serious RED FLAG that the Madoff case was not what it appeared to be but nobody in the press even bothers to investigate anything anymore.
Everyone just skipped over the fact that the SEC conducted multiple audits and found nothing. That included looking at bank accounts and positions on hand. That did NOT add up to a PONZI scheme where you are taking money from one person to pay another which is the actual structure of Social Security. The current generation’s contributions are taken to pay the previous generation.
Add to that, HSBC, which has been itself indicted for money laundering more than once, stood out as the largest “victim” of Madoff’s scheme – $1.5 billion. HSBC pays countless fines for every scandal they seem to be in the middle of every financial crisis.
In my case, the Bank said they had no idea where the money was after they stole it. How does $1 billion leave a bank without a withdrawal of some sort? Had it not been for my clients standing with me and doing what I told them to do and then sued HSBC, they would have gotten nothing, the government would have claimed I lost it all and the bank was not responsible. The government then put a gag order on me to stop me from helping my clients against the bank! You do not do that unless the bank was guilty. If the bank was not trying to take my client’s money to cover their own losses in Russia, then why put a gag order on me if the bank did not do anything wrong?
Then to hide my profits, the receiver handed the notes we issued to HSBC for them to redeem for $606 million pocketing $400 million profit stolen from my company. A former employee bumped into a former HSBC official and he asked what the hell went on. The banker bluntly told him, the deal offered by the government was too good to pass up. When I asked a NY lawyer why no banker has ever been charged or goes to jail, he laughed and said: “You don’t shit where you eat!” New York is one giant cesspool in finance.
Remember the 1995 collapse of the British Barings Bank because of a “rogue” trader? Nicholas William Leeson was an English former derivatives trader whose claimed fraudulent, “unauthorized and speculative trades” resulted in the 1995 collapse of Barings Bank, the United Kingdom’s oldest merchant bank. Leeson was convicted of financial crime in Singapore court and served over four years in Changi Prison. At the time, I owned a Brokerage House I was asked to bail out by the Japanese government. At our Hong Kong office, Barings wanted to open an account to trade with Leeson in charge.
I knew the corruption of the banks and if the trade went wrong, they would claim he was not authorized. That was the standard operational procedure. Knowing the inside of the industry out, I insisted on a letter from the Board of Directions expressly laying out the credit line for Leeson they requested from my company. I got the letter. So when Leeson supposedly went belly up, guess what. I was quietly paid when everyone else it was said Leeson was a rogue trader. All fake news!
The New York Post journalist Isabel Vincent who wrote Gilded Lilly, the wife of Edmond Safra, had called me and asked that since I had said that Republic National Bank, Edmond Safra’s, had been illegally trading in my accounts, did I think they were laundering money for the Russian mafia “as they were doing in Madoff’s?” I said I did not know. All I could tell was there were countless errors constantly being put into my accounts and then backed out. At first, I assumed they were “parking trades” in my accounts to use my cash for their margin. Of course, if the “error” was backed out to a different account, they indeed then were engaging in money laundering – not parking.
The court-appointed forensic accountant even wrote to the court about the unprecedented errors in the accounts. The government refused to provide account information to allow them to audit what was going on. The court-appointed counsel, David Cooper, I believe was doing everything he could to help the government cover everything up. The forensic accountant then sent letters to the Judge, and he took no action.
You now have the FTX scandal. You will see that there will NEVER be a trial that would expose all the money laundering where the Democrats had Zelensky, which supposedly needed money to defend his country and feed starving Ukrainians, hand the money to FTX who then happened to be the #2 donor to the Democrats for the midterms. Guess what! Sam Bankman-Fried was charged in the most corrupt court in the nation – the same Southern District of New York where all these questionable financial cases are charged.
The Court of Appeals admitted on page 97 of US v Zichettello, that judges are altering transcripts and changing the very words spoken in court. That is 20 years in prison if you or I alter court documents. They do it all the time. When I confronted Judge Richard Owen about this practice, so many people showed up in court to see what would happen. The lawyers told me you can’t accuse a federal judge of committing a crime. I said you all say they do it. They responded. Yes, but you cannot accuse them of doing it. The judge got scared and admitted it in public but claim it wasn’t material.
All the press was there AP, New York Times, Bloomberg, NY Post, you name it. NOT a single member of the press reported what took place that day. OMG! Exposing the federal court’s corruption? Impossible!
If a case is a high profile, you will NEVER see the truth in the media.
They are part of the corruption and conspiracy against the Constitution!