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OfflineTheGreenArrow
Goodbye, Mr. Chops.
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Registered: 06/22/12
Posts: 15,270
Last seen: 1 year, 10 months
Re: Big banks fined $5.7 Billion after pleading guilty to global currency conspiracy. [Re: Soulidarity]
    #21714984 - 05/23/15 05:37 PM (8 years, 8 months ago)

It seems both of what you're saying rings true on some level.


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A human being should be able to change a diaper, plan an
invasion, butcher a hog, design a building, conn a ship, write a
sonnet, balance accounts, build a wall, set a bone, comfort the
dying, take orders, give orders, cooperate, act alone, solve an
equation, analyze a new problem, pitch manure, program a
computer, cook a tasty meal, fight efficiently, die gallantly.
Specialization is for insects.- Robert A. Heinlein
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Offlinezappaisgod
horrid asshole


Registered: 02/11/04
Posts: 81,741
Loc: Fractallife's gym
Last seen: 7 years, 7 months
Re: Big banks fined $5.7 Billion after pleading guilty to global currency conspiracy. [Re: Soulidarity]
    #21715006 - 05/23/15 05:48 PM (8 years, 8 months ago)

Quote:

Soulidarity said:
Yes but they are just doing that to serve their own economic purposes. That's fine. They aren't colluding with other nations.

The euro Union is no different to federation of the states for economic benefit. And it simplifies the global economy. It's a good thing, rather then having 50 different exchange rates and currency making foreign trade a nightmare


Eitherway these 5 banks screwed up in a big way and there needs to be much more punitive action taken then just this 5.7 bn fine split between 5 organisations



I don't think so.  This is government thuggery.  Your justification for China's actions could just as easily be applied to the banks and no, the Eurozone is not analagous to the states.


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OfflineSoulidarity
With Your Halo Slippin . . .
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Registered: 07/15/12
Posts: 17,617
Loc: Atlantis Flag
Last seen: 8 years, 1 month
Re: Big banks fined $5.7 Billion after pleading guilty to global currency conspiracy. [Re: zappaisgod]
    #21715083 - 05/23/15 06:11 PM (8 years, 8 months ago)

reagardless of which way they are trying to influence the currency, i'm just saying they are influencing it for their own purposes and on their own. they are not colluding with other nations and world banks to secure commons goals. china is doing what is best for china. there is nothing wrong with that at all. thats what the central banks purpose is - to support the nations economy in the best way it sees fit. if their philosophies or goals differ to ours there is nothing wrong with that. the issue with these 5 banks is that they colluded together and removed the constraint of natural competition in the market. thats heavily illegal in any kind of trading and makes it so that it is not an even playing field for everyone. not that it ever really is when you consider how well resourced the big players in the market are, but thats a legitimate advantage atleast



also as a side note some of the enforcement strategies of some of the regulators are ridiculous. in aus they have these things called infringement notices. where basicalyl the regulator will approach the infringing company and say - ' hey, you're doing "this", we know you are doing "this", cease what you're doing, pay us a fine of "x dollars", and in return we will agree not to publicly prosecute you for "this" '. and they specifically say that it is not a public admission of guilt. so basically, they just agreed to fork out 150k for an infringement they are denying?? is that ass backwards or what? its done to prevent liability and other people suing them on the basis of admission of guilt but still. its all smoke and mirrors. especially for white collar crime, the punishments do not fit the crimes. they just get a slap on the wrist and try to hurd them into playing nice. providing financial penalties, which are paid for out of the COMPANIES ASSETS. so the individuals often lose nothing themselves and face no real consequences

my dad used to work in the state government as an exec for 15 years, he told me all about shit like this in government. he said, whenever a scandal happens, and its put on the news, as it always seems to be... and the minister goes on TV in an interview saying " this person has our full support in the matter ", dad said that is 100% political code for GAWN. fired and gawn! lol. i seem to encounter alot of examples of these similar kinds of public facades as time goes on


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R.I.P. WoodRuss67, Todcasil, TheMerryIguana, The Rompus, Lord Senate.
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Offlineakira_akuma
Φύσις κρύπτεσθαι ὕψιστος φιλεῖ

Registered: 08/28/09
Posts: 82,455
Loc: Onypeirophóros
Last seen: 4 years, 1 month
Re: Big banks fined $5.7 Billion after pleading guilty to global currency conspiracy. [Re: Soulidarity]
    #21715091 - 05/23/15 06:12 PM (8 years, 8 months ago)

the government is you, sadly.


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