Former IMF Chief Sent To Jail As Spain Prosecutes 65 Elite Bankers In Enormous Corruption Scandal

by Matt Agorist of The Free Thought Project

In many other countries, excluding the United States, corrupt bankers are often brought to task by their respective governments. The most recent example of a corrupt banker being held accountable comes out of Spain, in which the former head of the International Monetary Fund (IMF), Rodrigo Rato was sentenced to four years and six months behind bars.

According to the AFP, Spain’s National Court, which deals with corruption and financial crime cases, said he had been found guilty of embezzlement when he headed up Caja Madrid and Bankia, at a time when both groups were having difficulties.

Rato, who is tied to a slew of other allegations was convicted and sentenced for misusing €12m between 2003 and 2012 — sometimes splashing out at the height of Spain’s economic crisis, according to the AFP.

The people of Spain were outraged over the scandal as it was discovered during the height of a severe financial crisis in which banks were receiving millions in taxpayer dollars. Bankia was eventually nationalized and given 22 billion in public money.

Although he was sentenced, Rato, who is also a former Spanish economy minister, remains at liberty pending a possible appeal because of highly connected elite status.

Rato was brought down in a massive effort by Spain to get rid of corruption within the banking system. The problem had gotten so bad, that Spain decided to clean house, and 65 people, include Rato, were brought to task.

According to the AFP, they were accused of having paid for personal expenses with credit cards put at their disposal by both Caja Madrid and Bankia, without ever justifying them or declaring them to tax authorities. These expenses included petrol for their cars, supermarket shopping, holidays, luxury bags or parties in nightclubs.

According to the indictment, Rato maintained the “corrupt system” established by his predecessor Miguel Blesa when he took the reins of Caja Madrid in 2010, reports the AFP. He then replicated the system when he took charge of Bankia, a group born in 2011 out of the merger of Caja Madrid with six other savings banks, prosecutors said.

According to the report:

Rato was economy minister and deputy prime minister in the conservative government of Jose Maria Aznar from 1996 to 2004, before going on to head up the IMF until 2007. His subsequent career as a banker was short-lived — from 2010 to 2012 — but apart from the credit cards case, it also led to another banking scandal considered the country’s biggest ever.

Thousands of small-scale investors lost their money after they were persuaded to convert their savings to shares ahead of the flotation of Bankia in 2011, with Rato at the reins. Less than a year later, he resigned as it became known that Bankia was in dire straits.

The state injected billions of euros but faced with the scale of Bankia’s losses and trouble at other banks, it asked the EU for a bailout for the banking sector and eventually received €41bn.

Rato and others were probed, accused of misleading small investors in the listing of Bankia, which has since paid out €1.2bn in compensation.

To highlight the utter corruption within the banking cartel that is the IMF, Rato is the third former chief to be ousted for illegal activity.

For those who don’t remember, Rato’s successor, Dominique Strauss-Kahn, was tried in 2015 on pimping charges in a lurid sex scandal. Naturally, he was acquitted — in spite of the fact that he admitted to engaging in illicit sex with prostitutes at a series of orgies that supposedly took place at the Hotel Carlton in the northern French city of Lille. The court sided with DSK and agreed that he had no idea the women he repeatedly filled the orgies with were being paid.

Christine Lagarde, who took over from Strauss-Kahn and is the current IMF chief, In December, was found guilty of “negligence” for approving a massive government payout to business tycoon Bernard Tapie during her tenure as French finance minister.

Despite being found guilty of corruption, Lagarde was not sentenced to a single day in jail. She has since been meeting with Trump’s Goldman Sachs-connected Treasury Secretary, Steven Mnuchin, noting that they’ve had “some very positive discussions.”

Capitalism: A Cause for Concern?

This is my first post here. I present here some points from the massive tome I mention below that support my views on society. It is around 1,000 pages, so I bet you’re glad I read it so you don’t have to. You are more than welcome to do your own take on it none the less. The book mostly focuses on economics, but touches on politics and society over all as well. There is also my take on what its author said, next to the quotes, along with some more of my own comments in the last few paragraphs. What I feel is significant to mention may not be viewed that way by others, or vice versa, but in the end, I’m still trying to only help.

These quotes are taken from the Bantam classics edition, with the page number I found it on listed. Some of the page markers fell out.

Wealth of Nations, Adam Smith (Capitalism)

Economics 101. If that fills you with dread, you’re certainly justified. Most, if not all, say that an economy is a vital aspect of a society, but no one agrees on the definition, or which of the multiple versions currently existing to implement. Producing a new version is thrown around, and is likely the best bet. At the moment, there is a long time veteran contender with lots of followers, willing or not. This option’s name? Capitalism. Let’s explore its adopted playbook, The Wealth of Nations.

Let’s start out with the role of money/ the economy in politics:

1. Adam Smith says that monopolies use their power to influence the government to thwart workers and other companies. There are laws against monopolies, at least here in the US, but some companies are so large that they are effectively monopolies, and/or the sector of the economy they are a part of can be a large chunk of the overall economy, so an organization representing them can have lots of say.

2. page 908 – “making the administration of justice subservient to the purposes of revenue could scarce fail to be productive of several very gross abuses” : many politicians don’t listen (although many say what the “common” people  want to hear) to what the “common” people need/want, only to who got them elected, i.e. the lobbyists.

3. page 1029 -“A leader’s dignity should match that of their nation”: Although most “western” nations are overall wealthy, their wealth isn’t distributed very equally, so the “dignity” of most of their nation is much less. There are politicians for instance whose medical “problems” consist of getting Botox to fight a wrinkle and they have multiple homes, while a homeless person has frostbite and is lucky to find an intact cardboard box to shelter under.

4. page 537 – Smith says that the government has three economic goals: enough resources for the population, the chance for everyone to access those resources, and resources for public services. The U.S. apparently has lots of resources to spare, but a lot is either wasted (look at the dumpster of a restaurant or grocery store for starters) and/or doesn’t get this to those that need it. As for public services, I’d suppose we have a decent enough time there, although there are instances such as the national parks being closed, and our infrastructure is apparently falling apart. How about lay off a fighter jet or two and take care of some problems inside the country?

A slice or two about violence:

1. page 1017 – “parties enthusiastically attack established authority.” People must have been more active back in the 1700s when this book came out, although there are still people fighting. However, they are more likely to complain via a march or blog (although print and protests were used back then as well), i.e. something more peaceful. This could be due to the next line.

2. page 887 – “As society advances, the people become more unwarlike”. Conflicts of late have been either solved, or at least initially attempted to be solved, by a more diplomatic and/or economic approach. However, being more advanced also creates more things to bicker over, and when the wars do happen, they are much more destructive due to the increased technological level of the weapons.

Some lines about money /society/ the economy overall:

1. pages 44/47 – “labor is the real purchasing power, money is a symbol.” I suppose that having the symbol may create more trust that this person is actually working, but the amount they receive for their labor may not be a true representation, and they could have gotten it from other means, such as stealing or the lottery.

2. page 224 – “the poor survive by appealing to the rich by being as efficient and cheap as possible.” If they’re so efficient, shouldn’t their good work pay them more? I suppose they’re so relieved at having some sort of likely crummy position that they don’t care what the compensation is, and try to look as good as possible in order to stick around.

3. page 339 – “it comes from an order of men, whose interests is never exactly the same with that of the public, who have generally an interest to deceive and even oppress the public, and who accordingly have, upon many occasions, both deceived and oppressed it.” This was linked to controlling the market, although the quote is certainly fit to describe control in any format. Those in charge look after only themselves and their cronies, and sometimes not even their cronies.

4. page 423 – “The labor of some of the most respectable orders in society is like that of menial servants, unproductive of any value, and does not fix or realize itself in any permanent subject, or vendible commodity, which endures after that labor is past, and for which an equal quantity of labor could afterwards be procured.” An example: Bankers, politicians, and others may be looked up to or considered higher class, but when they work, they’re only debating and/or creating ideas/symbols, as opposed to say a blacksmith, which creates an actual “solid” object.

5. page 851 – “it is never in the interest of the unproductive class to oppress the other two.” None the less, they most definitely do. I suppose that by oppressing the other classes, they may be indirectly harming themselves, since they rely on the others to empower them, like a parasitic leech, and if their power source is lessened, they may lose some, and/or the other classes may get tired of being pushed around and fight back (apparently hasn’t happened yet, at least all that effectively). They may also oppress because “power corrupts”, and they feel that lashing out is the best way to hold onto this illusion, or perhaps they’re just butt holes from the start (personality). This also bring up another question – Are there any nice/good people in positions of power? Nominate them if you can.

6. page 539 – “the great affair, we always find, is to get money.” A big deal is made of it and most are forced to chase after it, in the so-called rat race.

7. page 551 – “Money is the known and established instrument of commerce, for which everything is readily given in exchange, but which is not always with equal readiness to be got in exchange for everything.” This seems to say that although everything is (allegedly) tradable for money, not everybody wants to trade their item for money. This could be since you could have all the money ever, but if the items are unobtainable, you effectively don’t have anything.

8. page 717 – “what encourages the progress of population and improvement encourages that of real wealth and greatness.” I would say that the wealth and greatness would be improvements, and that progress and improvement are similar, so a bit wordy here in my opinion. Otherwise, seems true, although wealth can imply something more than finances.

9. page 814 – “the evils come from the system, not from the character of the men who administer it.” Then what’s the quote from 339 about? Also, I would say that they affect each other. None the less, there’s now bad people running a bad system.

10. page 1044 – “a lot of inequality is better than a little uncertainty.” This may be a reason that so little action has been taken addressing the money issue. If something is a certainty, chances are it will be the same no matter what, and if some things are the same, how are they not equal? Thereby, inequality and uncertainty are the same thing, and the original statement doesn’t work. If you don’t want to use this approach, the blatantly obvious inequality does lead to uncertainty, such as when am I going to get this illness looked at, eat again, change my clothes, … and how is this a better situation?

Some have said that communism is equally shared poverty, and capitalism is unequally shared wealth, meaning there will still be people in poverty. Both will off everyone involved though. How communism has worked is that most folks are grouped together, and it takes out big chunks of the average person/masses at a time in some huge slaughter, and then the leaders start taking each other out. It’s more of an acute/sudden illness or condition, like stroke or heart attack. In capitalism, competition is encouraged, so all the sides usually don’t have the chance to 100% annihilate each other, and take each other apart piecemeal, making it more of a lingering, chronic illness, like Lou Gehrig Disease.

A problem with capitalism at least is that it promotes competition, but humans are allegedly social creatures. Being social, at least to me, just means that we interact a lot with each other, not that those interactions are always friendly, but being nice isn’t usually a bad thing, and is likely preferred. However, you can be too nice, which lets others take advantage of you openly or secretly. Working together, along with our increased intelligence, is what supposedly allowed us to progress to where we are today, versus other species, and will likely play a role in future development as well. There seems to be a claim that people need competition as a motivator in order to improve. By competing, if one gains, another or more may stay were they’re at, or even slide backwards, which is certainly not improving them. Furthermore, I stated earlier that science is driven by curiosity. In addition, folks may undertake something since they like doing it, and by continuing to do said action by the drive the resulting joy produces, they will get better at it, such as if they take up an instrument or a version of art, such as painting or drawing. However, you could say that they are competing against themselves, to see how fast/far they can progress in this undertaking.

On this note, this claim went on to say that without competition, people would even become gloomy. I do suppose that some people who have a more aggressive/competitive personality may get bored or upset, but it would be a load of relief for the rest. Tying in with this, a lot of the competition is “keeping up with the Jones’s”, which means having more and/or nicer material things. That fancy car may make your life more enjoyable and/or easier, but that doesn’t mean your life is truly improved. Furthermore, if that fancy car got damaged, you would likely be more upset over it than if you had a more modest car, and especially if you went from junker to junker. This is materialism at its worse, where you allegedly need to have a lot of stuff, and preferably a lot of the best stuff, in order to be a good and or complete person. No surprises to anyone else on this site I’d imagine, but this isn’t true.

There’s the concept of classes, usually based on income level. There’s the homeless and others like them, which are in bad shape, and can possibly not be counted as part of the system, as this system only “cares” for you if you have money. Those on welfare/government assistance have all of, or at least a good chunk off, major expenses, such as housing, food and medical covered through the government. If you’re the wealthy upper class, you don’t have to worry about those things either, as you’d have more income than you could spend. If you’re in the middle class, one surgery can put you in debt for the rest of your life, if not beyond, as there’s plenty of people who don’t finish the payments. I wouldn’t be surprised if the debt collectors didn’t summon up the debtors soul, spirit, ghost, essence or whatever you want to call it and hold it hostage in a otherworldly prison until the debt was paid off by their living relatives and or friends. At the same time though, the debt collectors are likely only interested in the material realm, so they might not do that.

Overall, the US ISN’T a truly capitalistic society, at least according to Smith’s standards. He wouldn’t like the current system, but that doesn’t mean one should like his “real” capitalistic system either.

Communist Jew Karen Hudes Exposed

Don’t trust anyone that continues to give this traitor voice! She suggests “the dollar is not going to crash after all” your children will have been sucked into financial slavery due to the Jewish war usury business!


The traitors are using predominantly Italian marrano crypto Jews… and Jews as fake activist infiltrators as per Lenin’s “We fight the opposition by leading it.” methodology. He did not invent this ancient Jewish tactic of allying with the enemy of the country they’re about to betray from the inside, as done with Persia 633 Spain 711, France and Russia in their socalled “revolutions” of TRAITORS! (See channel trailer for books and corroborating evidence and PLEASE let me know when/if the J00tube/j00gle TRAITORS delete or modify it again!)

Tags:communist traitors, karen hudes exposed, jewish communism, banker enslavement


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