How Your Wealth is Stolen EVERYDAY by Rory, The Daily Coin
TDC Note 6/13/17 - With Mr. Markopolis uncovering a brand new scheme it seems like the perfect time to remind everyone of the ongoing, to this day, theft of your wealth. Don't believe me? Well continue by listening to the only interview of it's kind and then read the actions taken to help spread the word. It is your wealth, it is your retirement that is in jeopardy and being syphoned off - Every. Single. Day.
From ZeroHedge -
Harry Markopolos, the investigator who exposed the Bernie Madoff Ponzi scheme, has uncovered a new fraud. The unfunded status of the pension fund of the Boston Transit Authority (the “MBTA”) is $500 million bigger than previously thought, according to Markopolos. This will have a significant impact on the municipal bond market, especially if it turns out that the MBTA’s problems are endemic among similar pension funds.
The unfunded status of a pension fund is the market value of the assets minus the present value of the liabilities, discounted at an actuarially determined interest rate. For most public pension plans, this number is negative; the liabilities exceed the assets and it is underfunded.
Although the full details are not yet known, Markopolos said the $500 gap is due to bad investments, fraudulent accounting and unrealistic actuarial assumptions. Source
UPDATE 01/22/15 - Editors Note - Thanks to a loyal reader, Lloyd, the full interview with Harry Markopolos that started a whole new leg on my journey is presented below. Please listen BEFORE reading this article in order to fully understand the depth of lies and alleged theft that are being perpetuated against YOU and ME as you are reading. It is mind blowing.
Some of you may remember my old YouTube channel, 500ounces [now deleted]. The last video produced for that channel was a call to help spread the word about the ongoing theft of, not just a few retirement accounts, but most retirement accounts in the United States. My father, who was a fireman killed in the line of duty in 1978, had his retirement account through the city, just like ALL civil servant accounts. This means that his accounts "funds" were being held in either State Street Bank New York or Bank New York Mellon.
As you will see it doesn't really matter as they are tied together at the hip and work together to steal a very small portion of your retirement funds on an ongoing basis. It is mind-bogling how long this crime has been perpetuated and only God knows how much money these mafia organizations have amassed over the past 4 DECADES.
After listening to the only interview that I am aware on this topic, on King World News, in October 2011, I embarked on a crusade to notify as many firemen and policemen as possible. I contacted the Tennessee State Attorney Generals Office regarding this subject as well. I contacted the Office of the Governor, the Fraternal Order of Police for the state of Tennessee--this was the only organization that actually listened and seemed to care. I would, literally, stop firemen and policemen on the street to discuss this issue and went so far as to go to various fire stations around the city to speak with these people face-to-face. You learn very quickly how little people care when you are looking them in the eye. This went on for months and my wife was beginning to show concern.
When I took this issue to the company that I worked for, after learning that our retirement funds were being held at State Street, they too turned a deaf ear. I even went so far as to "climb the ladder" by several rungs to no avail. After learning about this ongoing alleged theft I realized there had to be a change. I did not have a clue as to what kind of change, what to do with all the money in my retirement account and it felt like I was trapped in a cage with people who intended me nothing but harm.
My hope is that you reach that point as well, otherwise, you will never, ever do anything about your situation and the criminals will continue to transfer your hard earned wealth into their account.
Harry Markopolos is the person that tried desperately to expose Bernie Madoff. For more than five years Mr. Markopolos presented undeniable proof to the Securities Exchange Commission (SEC) regarding the details of the ponzi scheme Madoff was running. He even wrote a book, No One Would Listen: A True Financial Thriller. During this investigation Mr. Markopolos also discovered what was happening at State Street and Mellon.
What he found were these two banks, working in collusion with the banks in the City of London (a sovereign entity within London, England, I might add) on a daily basis these two criminal, mafia organizations would, allegedly, transfer funds to London, utilizing the exchange rate for the Pound Sterling and the US Dollar, and trim approximately .03 percent from all funds transferred. This happens either on the transfer to the banks in the City of London or on the way back to New York. It depends on how the Forex has been rigged for that day, in conjunction with the LIBOR rigging for that day. Which ever direction allows the bankster scum to best hide their alleged crime is the route they use.
At this point if you are unaware of the rigged markets that are LIBOR and the FOREX, along with all the lawsuits against the banks doing the rigging, please google "libor rigging" and "forex rigging" to begin your research. It will blow your mind.
During the ongoing investigation of Madoff, Mr. Markopolos assisted the State of California in a lawsuit against these two banks. The State of California won their case due to the research and information that Mr. Markopolos provided. There were several whistleblowers that stepped forward--hopefully, these whistleblowers haven't committed "suicide"--to help solidify the case. California's pension fund was awarded over $300 million dollars. According to the Mr. Markopolos in the KWN interview, the state of Florida has been in an ongoing court battle with BNY Mellon regarding these allegations. BNY Mellon has been able to postpone the court hearing for years as BNY Mellon knows that once they step inside a court room they will lose.
You may be asking what this has to do with your particular account. Great question. The short answer--everything. If you have a 401k or an IRA managed account then your funds are ran through either State Street Bank New York or Bank New York Mellon. Do you work for a large national or multi-national corporation? Do you work for the city, state or federal government? Do you work for a large regional corporation? If you work for any of these types of companies or are employed as a civil servant, I would be willing to bet an ounce of silver to an ounce of gold that your retirement funds find their way to one of these criminal organizations.
Say you own a managed IRA. If it is held at one of the too big to jail banks, you are in the same boat. I really hope you don't believe me and begin asking real questions of the fund managers at the company you work, the human resources director of the government agency you work for or the "financial planner" that manages your IRA. If you do that you too will reach the boiling point a lot sooner. Until it hurts, or as the drunks in AA talk about, "hitting rock bottom" you will not change.
Please ask questions and please allow the pain to permeate through your body. Then get busy and make the necessary changes. Reclaim your wealth and remove the tools from the tyrants that enslave us all. Click the image below to contact Will Lehrer or Gus Demos to learn how to better protect your assets and get your funds out of the hands of thieves.