Fiduciary duties owed by bankers to their Victims( whoops sorry Customers )
is a very interesting one There are not to my knowledge any precedents at law
at least not in the same way that Directors owe fiduciary duties to their shareholders and creditors and so on. There is a legal concept of usufruct which I have been exploring the basis of Fractional reserve banking capital/liquidity ratios and off balance sheet derivatives is an interesting one if you consider how banks massively leverage the assets of others charged to them.
I agree with you that there is a pretty big confidence trick being pulled here although governments are kind of in on the game and I suspect what we have at present is a falling out amongst thieves whilst they all apportion blame for the necessity of having put the Golden Goose on life support.
It reminds me of an old joke.
There was a couple of tourists passed by a farm where they had a three legged pig. Courteously they knocked on the farmers door to inquire about the pig as to why it only had three legs.
The farmer told him that it was a very special pig, “At one time when our daughter Judy was swimming in the pond and almost drowned that very pig, got all excited, came running up to the house, got our attention, and we went down to the pond and rescued Judy.
Then another time, when the barn started on fire that same pig came running and got our attention, and we were able to save the farm. Yep that’s one special pig and when you got one that special, you don’t want to eat it all at once!”
I won’t bore you with the exponential and ad nauseam metaphor one could extract from that modest allegorical comedic episode. In short the bastards have been burning the candle at both ends have been caught with their trousers down and fingers in the till.
All along they continue to believe that Bull Shit will baffle brains indefinitely!
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