January 16, 2023
Banks are fiduciaries (guardians in a trust relationship) that have been enabled to also promote and sell all manner of financial products and services to them. With full knowledge of the client’s strengths and weaknesses, they also trade their capital against their captured client, which gives them a totally unfair advantage. The conflicts of interest enabled by legislation and regulation are appalling.
The Federal Reserve System and the central banks of Canada, the UK, and Europe are privately owned, for-profit organizations that control the money supply and interest rates in these countries, and their policies impact employment and economic growth and contraction. But they trade financial instruments against all other investors worldwide, including governments, sovereign and private funds, banks, and independent investors. Yet, they are under the control of no government or regulatory agency, which is a totally unfair advantage.
Am I wrong?