[Music] all right for time purposes I think this will be my last reaction video I'll show you this is a going to be a real rabbit hole here we love our rabbit holes bro I think we made a show about that once I think so I think people might have liked that once the number one topic that across all of recent history no matter what wars are happening no matter what's going on the one thing you're not supposed to pay attention to because the Super Bowl is a distraction celebrity drama is a distraction mainstream politics
reporting is a distraction on both the left and the right because the one thing you're not supposed to pay attention to is the reason why the top 1% wealth share is increasing every year and everyone else's wealth share is decreasing every year the answer is the banks and wall Street's decades long crime spree so today I'm going to introduce you to one of the most important of the big four banks that you probably wouldn't think is so important because Black Rock gets all the conspiracy hype and JP Morgan is by far the biggest but when
I started digging into it City Bank actually stood out in a big way and we'll come back to this later but City Group stock is actually in a really precarious position ever since 2008 when their stock crashed hard they've never recovered their stock used to be worth over $500 per share it is now worth about $50 per share but what first got my attention was their board of directors see most of the big banks have Boards of directors that are loaded with people that have been Executives and board members at other big corporations a lot
of financial institutions but City bank's board of directors is filled with ex government officials ex Regulators xcia City Bank is the definition of the revolving door take Grace Daly for example the former senior Deputy controller for Bank supervision policy and chief National Bank examiner for the OCC she worked from 2001 to 2020 in the office of the com trol the office of the com trol and the currency Charters regulates and supervises all National Banks and Federal Savings Association they are the top of the food chain when it comes to regulating big Banks and it's not
just Grace they've also got John Dugan who was the head of the office of the comproller of the currency from 05 to 2010 I made a whole video about Leslie Ireland who worked at the CIA for more than 30 years both in senior positions as well as in classified positions for her whole early career which I can only assume is like a field operative but then we've also got Renee from the Carlile group who's on the board of Oracle which is the backbone of the cia's Cyber operations we've got counsil on Foreign Relations Federal Reserve
boards defense contractor Wall Street on Parade has reported on City Group extensively because since the year 2000 they've been convicted of breaking the law 181 times totaling up to 27 billion of fines that is 7 and a half offenses per year their biggest fines ever were $7 billion they've even pled guilty to criminal prosecutions with the doj and when you start digging through the crimes they've been convicted of you realize that they specialize in money laundering and hiding money in foreign accounts for governments for billionaires for corporations between 07 and at least 2012 banam xusa
a subsidiary of City Group processed more than 30 million remittance transactions to a total value of more than 8. billion they issued more than 18,000 alerts alerts for transactions that seem sketchy but conducted fewer than 10 investigations and filed only nine suspicious activity reports meaning 18,000 sketchy transactions came through their bank and they filed only nine official reports about it and that's because they were laundering money for Raul Selenas the brother of then president of Mexico Carlos Selenas this is what they do for all their clients they established a shell company with layers of disguised
ownership City trust in the Cayman Islands activated a Cayman Island shell Corporation Called a pic or private Investment corporation then they used Panamanian shell companies to function as the board of directors for that shell company then they used other shell companies to serve as the officers and principal shareholders of that shell company all of this so that Selena's name did not appear anywhere on the incorporation papers for the original shell company back in the 90s they laundered more than $67 million from Mexico into these shell companies M Elliot the City Bank representative that was in
charge of this money laundering scheme wrote to her colleagues in June of 1993 that the Selenas accounts is become is turning into an exciting profitable one for us all many thanks for making me look good when they got caught Senator L pressed her on the matter the day after Mr Selenas was arrested you said the following quote everybody was on board on this I mean this goes in the very very top of the corporation this was known okay on the very top he asked who were you referring to when you said this goes to the
very top Miss Elliot replied bill rhs I am sitting four or five down from the chair and Bill rhods was and is the vice chairman of the bank to me that's pretty top meaning City Bank right from the top level Executives their business model is to make shitloads of money laundering huge sums of money for regimes for anyone who wants to launder money the Panama papers made it clear just how good they are at doing this and broke down the whole structure of the scheme once a person becomes a client of a private bank the
bank's primary goal generally has been to service that client and servicing a private bank client almost always means using services that are also the tools of money laundering like secret trust offshore accounts secret named accounts and shell companies called private Investment corporation private Banks actually keep prepackaged pic's on the Shelf awaiting activation when a private bank client wants one so they just have a whole bunch of ready too money laundering operations waiting in storage until someone ask to get money laundered and then they pull them out and activate them in the brochure for City Banks
private bank on their International Trust services in the table of contents it lists the attractiveness of secrecy jurisdictions the Bahamas the Cayman Islands Jersey and Switzerland the best of all worlds quote pic assets are registered in the name of the pic and your ownership of the pic need not appear in any public registry that's how they advertise their services City Bank is the fourth biggest bank when it comes to us-based domestic deposits meaning our money deposited in the bank JP Morgan has more than $2 trillion of our deposits City Bank has only 760 billion but
if you look a little closer out of all the biggest banks they have the highest percentage of foreign assets under management as in percentage of domestic assets us Assets in the US the other big banks are almost all us business City Bank is almost half foreign asset and when you look at domestic branches versus foreign branches City Bank has way more foreign branches than anyone else you know the kind of foreign branches you might have in places like the Bahamas to help facilitate money la in outside the US so here's where we go from facts
and hard evidence to speculation and questions and I need your guys' help cuz I'm seeing kind of a com wow my man does his homework he's an excellent investigative journalist like basically just does his own thing on uh IG see what I mean like that's real journalism yeah just to connect that many dots like corporate press will like not even have a person do any research on a story they'll just drive their news truck to the location where the story is happening and just stand out in front and give whatever opinion piece their boss told
them to give yep it's like none of that's journalism though yeah you know so anyway I love what he's breaking down there because it gives me some really interesting thoughts um most people watching this don't fall into this Camp of believing that um extremely high levels of financial collusion uh happen on a daily basis in almost every big Corporation you can think of it happens like you wouldn't even imagine and most people go yeah that's probably true but there's still a lot of people that go oh come on you think City bank's really laundering all
that money they wouldn't risk their their company like that and you know people companies can't just get away with stuff like that so like we can solve the rationale of this with some very basic questions which I'll poee to you Jeremy um Jeremy is laundering money possible definitely definitely okay um would you say that if you can figure out how to successfully launder money that you can make lots and lots of money laundering definitely definitely no doubt so then if you can make lots and lots of money at anything but let's use laundering don't you
think it's likely that people would figure out a way to really game that system and do it at a very high level 100% facts right so there's nothing conspiratorial about understanding that this is the way our world works is that it's very easy to launder money and to do deceitful things with money and he I like how he broke down how they do it there because that's one detail I notice will often be missing when like people talk about what company or Corporation is laundering money they won't actually break down how they do it but
um we saw with with Biden recently in some of the indictments of his dealings with China and um Hunter Biden doing business deals with China you know 10% 10% for the big guy all that all those emails uh what they do is it's kind of like a um a VPN where they scatter your IP address everywhere so that if someone's trying to trace your IP it's like bouncing from a bunch of locations so they can't really tell which one is where you're really at and that's really all that people do when they launder money is
they have these like he said shelf companies different bank accounts offshore accounts trusts and they they literally have and I know you know this Jeremy because you study the 1% but they literally have pre-planned routes for money based on where it comes from uh what type of money they're getting from what industry they'll have pre-planned routes of like it goes into this Corporation to that bank account to that shelf company to this bank account and it's like it goes to my forign one back to my domestic one so how is anybody going to trace what
money really went where and for what purpose right if I have a glass of water and then you have a big pool of water or a big jug of water rather and you grab my glass and you throw it put in your uh jug of water and now our waters are mixed and then you go around and you pour it in like 10 different cups and then you hand me back The Jug that has this much water left in it and you're like hey here's your water back and I'm I'll be like what do you
mean how can I know that that's the water that was in my cup you know it all got mixed you're like oh don't worry I poured it appropriately in each cup so that only the water that I previously had went in those cups here's your water back and like I have no way of disproving you I you know what I mean it's it's all conjecture and this is is how they play the game with money is that if you if you move it around enough and in certain ways everything is a new transaction and so
it constitutes a whole new reason for the transaction which you can say is anything so like we if we want to regulate the financial industry to prevent these kinds of collusions it's going to take some real big-time thinkers who can come up with the right uh protections and restrictions on how how many bank accounts you can have or how many shelf companies you can have there's going to have to be at some point regulation on that stuff in some way because otherwise we're kind of just allowing this Society to run rampant where people can launder
money freely with no basically no consequence because it's virtually impossible to prove it yeah basically the game that top companies in each industry play whether we're talking about like the pharmaceutical industry or we're talking about the food industry or we're talking about the banks they're basically just like look this is going to be so profitable that we'll just take the fines yeah totally and so that's where we're at now is like look at the stuff with the vaccine injuries and stuff right or like putting out um like stuff with like oxycotton or like fentanyl or
whatever like like massive uh lawsuits right Monsanto OIC yeah whatever it is massive lawsuits and they're like yeah but we made you know 150 times that so it is what it is so part of it is like yeah what you're speaking to is that incentives Drive Behavior right if you're if you're trying to think in terms of systems whether you're you're a parent and you're trying to figure out your eight-year-olds you know just really not listening and you're trying to figure out how am I going to improve this kid's life incentives Drive Behavior or whether
you're literally the leader of the Free World and you're trying to figure out how to manage you know 8 billion incentives dry behavior and so we have to look at the current incentives and ask like are is the current system incentivized to discourage this type of behavior well we have to look at what happens when they do it some fines if they get caught so it's like that's where we're at and for these you know this fourth turning and shifting into the next whatever the next hundred-year cycle is going to be that's going to be
a big piece of it is restructuring incentives because the current incentives are broken for every system that's yeah the only reason these things haven't solved themselves haven't taken care of themselves it's not an intelligence issue it's not a resources issue it's not a oh it's too difficult of a problem issue we have one man taking us to Mars you think this is more complicated than taking us to Mars they like you to think it is so it's like well the incentives and that's where I dis I I really describe it akin to coming off of
hard drugs we will have to as a as a race we will have to come off of this certain way of doing things which we could call almost like easy easy mode the game's been on easy mode just like you know the government endlessly printing we've been on easy mode eventually that needs to get the Band-Aid has to get ripped off we all know that we have to come off of that system but it's going to be serious withdrawal when we do and there's 20 to 30% inflation gas is $10 but something has to shift
right so it's it's like it's this weird thing where I think those who are in those positions are like almost probably at this point are like well we're doing them a favor because if we were to shift these systems like they would hate it for the in the short term but it's a necessary shift and um I don't have much to add other than that other than um this guy's a incredible researcher in that video and um I'm very familiar with all the you know the fraud that City and the banks do in terms of
yeah Consumer Debt and stuff like that you know like violating consumers and all that stuff but to just blatantly see that that's being done for like money that's obviously tied to Mexican cartels and stuff like that and then our and then our government will be like that's our enemy and it's like yeah it's it's definitely an interesting thing and and it comes back to this notion of like there's not one they it's the enemy of maybe a certain department at this moment in time or a certain a certain they but then there's others who are
like the money's too good this isn't my enemy right now but it will be my enemy in like 10 years but right now as the money's too good so we're gonna shake hands so it's a it's interesting I did an interview with Cal Washington a couple days ago who's a law law teacher and I've seen some of the past ones you did he has some great takes on this whole topic but we were talking about the idea of pirates and how pirates in the old times were basically you know ships that would take over um
ships that had cargo that were doing business and trade across the ocean and Pirates were like Hey we're going to we're going to siphon off of this we're going to leech off of it and kidnap these boats and uh at a certain point the the government started hiring Pirates even though Pirates had been hijacking government trade ships for a long time they started hiring Pirates to do that for them against their enemies or whatever the case may be and I can't remember the name of them now I'm drawing a blank but I think it was
like Mariners or something like that but basically they're just hired Pirates they're still Pirates they're still thieves and criminals but the government was like hey let's just profit off of the criminals you know let's have the Pirates work for us and it's that way across every like system in the world that produces money uh drug trafficking across the the border for Mexico for example or child trafficking unfortunately these huge multi- multibillion dollar industries that the government will you know on the mainstream media espouse says oh this is bad we don't agree with child trafficking and
Drug drug trafficking but behind the curtains the CIA and the FBI are actively aiding and abetting the trafficking and we see that now with the open borders it's like yeah they don't actually care what's bad for the people they want to they want to get some of the profit shares that the other guys are getting they're trying to get their Cut You Know by getting in on the deal and banks are doing that with our money with our Securities uh the the 1% do it it's a it's a Consciousness problem and so with the regulations
we're going to have to get to a point where uh we incentivize Integrity somehow which is kind of what you were pointing to and that's a good new Earth question right of how do we incentivize Integrity in business yeah and de incentivize uh deceit and Corruption and it has to begin at least I think with like the whole facade of regulatory agencies and businesses like you know you have a business like fizer and then you have a bunch of regulatory agencies that pretend to make sure fizer is doing good business being fair now CDC who
and they don't regulate anything they they're actively part of the same crooked criminal Enterprise and such to the extent that there's actually a great documentary on Netflix about this there's multiple on Netflix about this topic but they show you the inside of what it's like to go to work as a fiser rep and they basically were interviewing people that have been former farmer reps and they're like so the way it works is that when you get hired by one of these companies you're not going to be there for very long before you get upgraded to
somebody from the FDA will reach out to you or the CDC or The Who and ask you to be a part of their board and work for them and so now you're going to be regulating this very business you used to work for and then after a while someone from the Pharma industry will contact you and say hey come be the president of this organization in our company and you're just hopping back and forth the the the the Regulatory Agencies and the businesses are sharing employees constantly there's absolutely no real division between them they're the
same industry and they're putting forward this guise of Regulation and you have that with the SEC and Banks Securities and Exchange Commission doesn't regulate any Securities they let they let Securities fraud happen unfettered 247 at a number you would would Boggle your mind billions of dollars a day of Securities fraud they don't regulate any of it why because they're actually doing the opposite of what they pretend to do they're actually in on this on the business deal and part of the business is to pretend to regulate it so that people will not clamor over the
corruption that we're seeing so um the fact that these videos are out there man like you said that video probably has a few hundred th000 views I would imagine and uh that's a big chunk of people that are going to wake up to these things at a very fast clip well said hey if you enjoyed this short video clip and you want to watch the full podcast episode you can click right here and if you want to watch another short clip we think you might also like you can click right here [Music]
