Tag Archives: London

Theresa May Proposes Tax On Foreign Homebuyers As London Property Rout Worsens

Housing prices in the world’s premier markets – London, New York and Hong Kong, all of which were recently highlighted on the latest UBS ranking of cities with the largest housing bubble risk…

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…. have finally started to retreat after years of unprecedented growth (a trend that can be attributed both to the stupefying price-to-income ratios facing local buyers and the Chinese government’s crackdown on capital outflows, among other factors).

But these pullbacks, which have mostly manifested over the past year, have had little, if any, impact on rates of homelessness, which have jumped in most urban centers (just look at Seattle). Given the tremendous public pressure for the government to do something to alleviate financial burdens on renters and aspiring buyers, UK Prime Minister Theresa May on Sunday became the latest politician to declare that something must indeed be done.

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And that something, as Bloomberg and the Financial Times reported, is a proposed stamp tax on foreign buyers who don’t pay taxes in the UK, with the proceeds going to initiatives for rough sleepers (a slightly more dignified term for “the homeless”). The London proposal comes one week after officials in British Columbia promised a crack down on the “dirty money” (read Chinese buyers) that has helped make Vancouver’s housing market the most unaffordable in North America.

Meanwhile, in 2018 house prices in London declined more quickly than the broader UK market, a sign that property prices across high-end markets have peaked, and that homeowners are in for a punishing pullback.

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FTSE-listed home builder stocks including Berkeley, Barratt and Taylor Wimpey were among the biggest losers on the first trading day of the quarter since their operations are concentrated in London, one of the most popular markets for foreigners.

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Here’s the FT with more:

Speaking at the Conservative Party conference on Sunday, Mrs May announced plans for buyers of UK property who do not pay tax in Britain to be subject to a new stamp duty surcharge of up to 3 per cent, with the proceeds going towards a scheme for tackling rough sleeping. The proposed tax would be levied on both individuals and companies.

While London house prices have been falling this year, they have risen at a rapid clip in recent years. The high number of luxury housing developments and of homes bought as investments that stand empty, particularly in the capital but also elsewhere in the country, have prompted calls for the government to tackle what is seen as a UK-wide housing crisis and build more affordable housing to accommodate the rising population.

Mrs May said there was evidence that foreign buyers who do not pay UK taxes had helped push up prices and reduce the rate of home ownership in the UK. When she became prime minister in 2016, she made solving Britain’s housing crisis a priority.

Of course, housing costs aren’t the only factor contributing to homelessness in the UK (austerity-related cutbacks have also played a role). But some analysts worry that May’s tax might be ill-timed as Britain tries to signal to the world that it’s still “open” to foreigners as Brexit looms.

“This policy, with its uncomfortable echoes of blaming foreigners for every ill, may make good headlines, but it sends an uncomfortable message to the rest of the world and will do nothing to create more homes for those unable to buy or to rent today,” said Henry Pryor, a U.K.-based luxury real estate broker.

Back when he was mayor of London, Boris Johnson said it would be “nuts” to deter foreign ownership in London, warning that it could trigger a precipitous collapse in home prices.

Still, there’s no denying that policies to beat back foreign buyers who have helped inflate property prices are politically popular. And with May’s grip looking increasingly tenuous thanks to her “Chequers plan” and her European partners unwillingness to give an inch in their negotiations over a Brexit deal, the timing of this announcement is hardly surprising.

Moving forward, if London cracks down on foreign buyers, other property markets like New York City could feel the sting as foreigners worry that “progressive” mayors like Bill de Blasio, who has already pushed through new disclosure laws applying to foreign property buyers, could follow suit. Such measures could risk exacerbating this latest decline in luxury markets, turning it into a full-fledged selloff with echoes of 2007.

Source: ZeroHedge

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London Housing Bubble Melts Down

But don’t just blame Brexit.

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In Central London – the 30 most central postal codes and one of the most ludicrously expensive housing markets in the world – eager home sellers are slashing their asking prices to unload their properties. But even that isn’t working.

In the 12 days after the Brexit vote, cuts to asking prices have soared by 163% compared to the 12 days before the vote, according to the Financial Times. Yet sales have plunged 18% from before the Brexit vote. Sales had already taken a big beating before then and are now down a mind-boggling 43% from where they’d been a year ago!

So Brexit did it?

Um, well, sort of. But it’s more than Brexit. Home prices on a £-per-square-foot basis had peaked in Q2 2014, according to real-estate data provider LonRes. Since then, the market in Central London has been hissing hot air. By Q1 2016, prices for homes above £5 million had dropped 8% from their 2014 peak, and prices for homes from £2 million to £5 million had plunged 10%.

Back in December 2015, we reported that luxury housing in London was getting mauled, based on the LonRes report for the third quarter, released at the time. It pointed the finger at folks who, once “awash with cash, don’t have as much to spend” [read…  It Gets Ugly in the Toniest Parts of London].

Then, in its spring review, LonRes called the prime London housing market “challenging.”

It wasn’t just the Brexit referendum and the new stamp duty – In 2014, a change in the stamp duty made buying high-end homes more costly; and in April this year, an additional duty was imposed on purchases beyond a primary residence. Now there’s a third reason, and it originates deep from the bowels of the UK economy. LonRes:

A third is now making itself known to us as it is not something that the chancellor can bury any more. This is the balance of payments which ran at 5.2% of GDP last year and was the largest annual deficit since records began in 1948.

If measures are not taken to bring this under control, then the mini experiment to deflate the London property bubble will seem small change compared to the £32.7bn deficit that exists.

The London residential market has undoubtedly slowed, and this is impacting prices. No one will disagree that London’s prime market needed the steam to be released from it. My guess is that this slower market will be here for some time.

And not just in London…

Last week, the Royal Institution of Chartered Surveyors was spreading gloom with its residential market survey of the UK, conducted after the Brexit vote, that found, as the Telegraph put it, “The number of people wanting to buy a house has fallen to the lowest level since mid-2008 amid post-referendum uncertainty.”

Lucian Cook, head of residential research at Savills, told the Telegraph:

“The current month’s figures suggest countrywide impact on sentiment which is to be expected. However previous months’ results would indicate that a slowdown in London has been on the cards for some time. It looks like the Brexit vote may be the trigger for this to materialize.”

Now all hopes are once again centered on foreigners and their money to bail out the housing bubble before it completely implodes. But this time, it’s different, as they say at the worst possible moment: it’s not the Russians or the Chinese, but people whose investments and incomes are in currencies linked to the US dollar. Over the last 12 months, the pound has lost about 14% against the dollar, most of it since the Brexit vote, which would give these folks an additional discount on UK real estate.

The Financial Times expressed those industry hopes, and its new saviors, citing Anthony Payne, managing director at LonRes:

“We have heard that quite a number of Middle Eastern buyers have been coming back into the market. A lot of them are converting from dollars, and together with any discount they get [plunging prices], the saving in the actual price is quite substantial,” said Mr. Payne. “Some people are concerned by Brexit – others see it as an opportunity.”

London isn’t the only ludicrously overpriced housing market, where prices, once helped along by foreign money, are skidding. And now the industry is hoping for more foreign money to wash ashore, just when the Chinese, by far the largest group of investors in the US housing market, are getting cold feet.

by Wolf Richter | Wolf Street

London Is Now The Global Money-Laundering Center For The Drug Trade, Says Crime Expert

London’s financial center skyline

The City of London is the money-laundering center of the world’s drug trade, according to an internationally acclaimed crime expert.

UK banks and financial services have ignored so-called “know your customer” rules designed to curb criminals’ abilities to launder the proceeds of crime, Roberto Saviano warned. Mr Saviano, author of the international bestseller Gomorrah, which exposed the workings of the Neapolitan crime organization  Camorra, said: “The British treat it as not their problem because there aren’t corpses on the street.”


His warning follows a National Crime Agency (NCA) threat assessment which stated: “We assess that hundreds of billions of US dollars of criminal money almost certainly continue to be laundered through UK banks, including their subsidiaries, each year.”


Last month, the NCA warned that despite the UK’s role in developing international standards to tackle money laundering, the continued extent of it amounts to a “strategic threat to the UK’s economy and reputation”. It added that the same money-laundering networks used by organized crime were being used by terrorists as well.

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Roberto Saviano’s ‘Gomorrah’ has sold 10 million copies around the world (Teri Pengilley)

Interviewed by The Independent on Sunday, Mr Saviano said of the international drugs trade that “Mexico is its heart and London is its head”. He said the cheapness and the ease of laundering dirty money through UK-based banks gave London a key role in drugs trade. “Antonio Maria Costa of the UN Office on Drugs and Crime found that drug trafficking organizations were blatantly recycling dirty money through European and American banks, but no one takes any notice,” he said. “He found that banks were welcoming dirty money because they need cash, liquidity during the financial crisis. The figures are too big to be rejected …. Yet there was no reaction.”

Referring to HSBC’s record $1.9bn (£1.2bn) US fine for money laundering for the Mexican Sinaloa drugs cartel in 2012, Mr Saviano said: “The biggest UK bank! Yet it has scarcely been written about. The British treat it as not their problem, because there aren’t corpses on the streets.

“They think it’s all happening ‘over there somewhere’, so they needn’t worry about it. Sure, HSBC has been reported but there has been no debate. You need to fill the papers. The intellectuals have said nothing. [David] Cameron has said nothing. It’s his country. How can he say nothing on such a piece of news?”

US justice officials concluded HSBC was guilty of “stunning failures of oversight – and worse, that led the bank to permit narcotics traffickers and others to launder hundreds of millions of dollars through HSBC subsidiaries and facilitate hundreds of millions more in transactions with sanctioned countries”, including money banked for Middle East terror groups.

He accused the British Government, together with Austria, of consistently blocking anti-money-laundering moves by the European Union. “They will carry on like that until someone gets killed here by the Russians or the Italians. ” he said. Mr Saviano said he feared one reason was because banks are a key source of political funding.

“Every time there’s an election campaign, I wonder if someone will come forward and start a campaign on money laundering … but it never happens. The reason, I am convinced but I don’t have the proof, is that a good part of the money that comes from money laundering goes into the election campaign. Not illegally, legally, because it can come in because of a lack of regulation.”

Labour MP David Lammy is worried about London’s dirty money

Labour MP David Lammy is worried about London’s dirty money (Getty)

Twenty years ago, drug money was laundered offshore because the top international banks “were afraid of opening their doors to dirty money, they were afraid of losing control”, he said. “The more criminal capital comes in, the more criminals there are on the boards. The Mafia set up its own bank, Michele Sindona’s Banca Privata Finanziaria, and the other banks would have nothing to do with them,” he said. “Not any more. Now, because of the problem of cash, they can’t wait to get the Mafia organizations in.”

Labour MP David Lammy, who met Mr Saviano last week, said the UK needed to take “very seriously” his claims about its financial services’ role in the international drugs trade. Mr Lammy, who is seeking to become Mayor of London in 2016, said: “We are rightly proud of our financial services industry in this country, but we cannot afford to be complacent.

“I am particularly concerned that London’s inflated property prices are fuelled by dirty money and I will do everything in my power as mayor to ensure that money laundering and tax evasion are rooted out by the authorities.”

 by James Hanning

Sales of $100 Million Homes Rise to Record Worldwide

Source: Bloomberg Businesshttps://i0.wp.com/www.ealuxe.com/wp-content/uploads/2013/08/this-is-what-you-could-wake-up-to-every-day.jpgThe Odeon, Monaco Penthouse: most expensive penthouse in the world

The ultra-luxury housing market is scaling new heights as a record number of properties around the world command prices topping $100 million.Demand for mega-mansions and penthouses has accelerated as wealthy buyers seek havens for their cash and search for alternative investments such as art and collectible real estate, according to a report Thursday by Christie’s International Real Estate, owned by auction house Christie’s. Five homes sold for more than $100 million last year, with at least 20 more on the market with nine-figure asking prices, the brokerage said.“You’re looking at a universe of over 1,800 billionaires who are starting to become members of this club of collectors of the most unique and incredible real estate in the world,” Dan Conn, chief executive officer of Christie’s International Real Estate, said in a telephone interview. “It’s something they’ll hold onto for a lifetime, the same way they’ll hold onto a Picasso or a Warhol or any number of the great pieces of art we’ve sold over the years.”

 

Sales are likely to increase this year with more newly built properties and off-market homes trading for at least $100 million, Conn said. Demand is growing among affluent Americans and Europeans; billionaires from unstable economies, such as Russia and Middle Eastern countries; and buyers from mainland China, who were barred from investing overseas before 2012 and since have snapped up houses in cities including Hong Kong, Los Angeles, New York and London, he said.

https://i2.wp.com/www.ealuxe.com/wp-content/uploads/2013/08/most-expensive-penthouse-in-the-world-odeon-ealuxe.jpgThe penthouse and pool area of the Tour Odeon residential apartment block. At least 18 residences have asking prices of $100 million or more, led by the $400 million Monaco penthouse. Source: Realis/SCI Odeon via Bloomberg

‘Can Boast’

“People want trophy homes,” Eyal Ofer, a Monaco-based shipping and real estate magnate, said in interview earlier this week at the Milken Institute Global Conference in Beverly Hills, California. “They’re a scarce commodity. And they’re better than gold because you can boast about it.”

Last year’s sales of homes for at least $100 million were led by an East Hampton, New York, estate purchased for $147 million by Barry Rosenstein, managing partner at hedge fund Jana Partners. The other top sales were a $146 million villa in Saint-Jean-Cap-Ferrat, France; a $120 million estate in Greenwich, Connecticut; a $104 million Hong Kong residence; and a $100.5 million duplex penthouse in New York’s One57 condominium tower, according to Christie’s.

Not all the properties went for close to the asking price. The Greenwich estate that sold for $120 million was originally listed for $190 million.

‘Fundamentally Different’

The fact that asking and sales prices for ultra-luxury properties are reaching new heights isn’t a sign of problems in the broader market and shouldn’t raise concerns that last decade’s housing bubble will be repeated, Conn said.

“I think of this market as fundamentally different from the rest of the market,” Conn said in an interview Thursday on Bloomberg Television’s “Market Makers.” “In order to buy one of these properties, you have to be in the billionaires club.”

Just one home sale exceeded the $100 million mark in 2013, following four such transactions in 2012 and three in 2011, Christie’s reported.

Residences currently on the market with asking prices at that level include a $400 million Monaco penthouse, a $365 million London manor and a $195 million estate in Beverly Hills, California, according to Christie’s. France’s Cote d’Azur, a getaway for jet-setters, has homes with asking prices of $425 million and $215 million.

The report analyzed home sales in 10 cities known for prime property and 70 additional markets, including weekend getaways, vacation resorts and suburban locations. The 10 cities are Dubai, Hong Kong, London, Los Angeles, Miami, New York, Paris, San Francisco, Sydney and Toronto.

Location, Privacy

The average starting price for a luxury home was $2 million in the areas Christie’s studied. It defines a luxury home as having a combination of location, such as a prominent street address, and amenities such as privacy, urban conveniences or collectible architectural quality.

London luxury homes averaged $4,119 a square foot, the most expensive of the top 10 cities. Beverly Hills and neighboring areas of Los Angeles had the highest luxury entry-price point, at $8 million. Toronto had the fastest sales pace, with prime properties finding a buyer an average of 31 days after listing. Dubai had the highest share of international and non-local buyers, at 75 percent.

Banker Suicides: The JPMorgan-CIA-NYPD connection Exposing what lies beneath the bodies of dead bankers and what lies ahead for us

Source: Reprinted From Canada Free Press

I feel that this is one of the most important investigations I’ve ever done. If my findings are correct, each of us might soon experience a severe, if not crippling blow to our personal finances, the confiscation of any wealth some of us have been able to accumulate over our lifetimes, and the end of the financial world as we once knew it. The evidence to support my findings exists in the trail of dead bodies of financial executives across the globe and a missing Wall Street Journal Reporter who was working at the Dow Jones news room at the time of his disappearance.

If the bodies were dots on a piece of paper, connecting them results in a sinister picture being drawn that involves global criminal activity in the financial world the likes of which is almost without precedent. It should serve as a warning that we are at the precipice of something so big, it will shake the financial world as we know it to its core. It seems to illustrate the complicity of big banks and governments, the intelligence community, and the media.

Although the trail of mysterious and bizarre deaths detailed below begin in late January, 2014, there are others. Not only that, there will be more, according to sources within the financial world. Based on my findings, these are not mere random, tragic cases of suicide, but of the methodical silencing of individuals who had the ability to expose financial fraud at the highest levels, and the complicity of certain governmental agencies and individuals who are engaged in the greatest theft of wealth the world has ever seen.

It is often said that life imitates art. In the case of the dead financial executives, perhaps death imitates theater, or more specifically, the movie The International, which was coincidentally released in U.S. theaters exactly five years ago today.

We are told by the media that the untimely deaths of these young men and men in their prime are either suicides or tragic accidents. We are told what to believe by the captured and controlled media, regardless of how unusual or unlikely the circumstances, or how implausible the explanation. Such are the hallmarks of high level criminality and the involvement of a certain U.S. intelligence agency intent on keeping the lid on money laundering on a global scale.

Obviously, it is important that this topic is approached with the utmost respect for the families of those who died, that they be allowed to grieve for the loss of their loved ones in private. However, it is extremely important that the truth about what is happening in the global financial arena is not kept from us, as we will also be victims of a different nature.

The missing and the dead: a timeline

The following is provided as a chronological list of those who have gone missing or been found dead under mysterious circumstances. It is important to note that this list consists of names of the most recent incidents. There are more that extend back through 2012 and beyond.

January 11, 2014:

MISSING: David Bird, 55, long-time reporter for the Wall Street Journal working at the Dow Jones news room, went for a walk on Saturday, January 11, 2014, near his New Jersey home and disappeared without a trace. Mr. Bird was a reporter of the oil and commodity markets which happened to be under investigation by the U.S. Senate Permanent Subcommittee on Investigations for price manipulation.

January 26, 2014:

DECEASED: Tim Dickenson, a U.K.-based communications director at Swiss Re AG, was reportedly found dead under undisclosed circumstances.

DECEASED: William Broeksmit, 58, former senior manager for Deutsche Bank, was found hanging in his home from an apparent suicide. It is important to note that Deutsche Bank is under investigation for reportedly hiding $12 billion in losses during the financial crisis and for potentially rigging the foreign exchange markets. The allegations are similar to the claims the institution settled in 2013 over involvement in rigging the Libor interest rates.

January 27, 2014:

DECEASED: Karl Slym, 51, Managing director of Tata Motors was found dead on the fourth floor of the Shangri-La hotel in Bangkok. Police said he “could” have committed suicide. He was staying on the 22nd floor with his wife, and was attending a board meeting in the Thai capital.

January 28, 2014:

DECEASED: Gabriel Magee, 39, a JP Morgan employee, died after reportedly “falling” from the roof of its European headquarters in London in the Canary Wharf area. Magee was vice president at JPMorgan Chase & Co’s (JPM) London headquarters.

Gabriel Magee, a Vice President at JPMorgan in London, plunged to his death from the roof of the 33-story European headquarters of JPMorgan in Canary Wharf. Magee was involved in “Technical architecture oversight for planning, development, and operation of systems for fixed income securities and interest rate derivatives” based on his online Linkedin profile.

It’s important to note that JPMorgan, like Deutsche Bank, is under investigation for its potential involvement in rigging foreign exchange rates. JPMorgan is also reportedly under investigation by the same U.S. Senate Permanent Subcommittee on Investigations for its alleged involvement in rigging the physical commodities markets in the U.S. and London.

Regarding the initial reports of his death, journalist Pam Martens of Wall Street on Parade astutely exposed the controlled, scripted details of the media accounts surrounding Magee’s death in an article written on February 9, 2014. Ms. Martens writes:

“According to numerous sources close to the investigation of Gabriel Magee’s death, almost nothing thus far reported about his death has been accurate. This appears to stem from an initial poorly worded press release issued by the Metropolitan Police in London which may have been a result of bad communications between it and JPMorgan or something more deliberate on someone’s part.” [Emphasis added].

Ms. Martens also notes:

No solid evidence exists currently to suggest that the death was a suicide. In fact, there is a strong piece of evidence pointing in the opposite direction. Magee had emailed his girlfriend, Veronica, on the evening of January 27 to say that he was about to leave the office and would see her shortly. [Emphasis added].

Based on information she developed, it appears likely that Magee did not meet his fate on the morning his body was discovered, but hours earlier. Considering the possibility that Magee might now have died in the manner publicized, Ms. Martens offers speculation, and notes it as such:

If Magee became aware that incriminating emails, instant messages, or video teleconferences were not turned over in their entirety to Senate investigators or Justice Department prosecutors, that might be reason enough for his untimely death.

Looking at the death of Magee in the context of a larger conspiracy, it is difficult not to suspect foul play and media manipulation.

January 29, 2014:

DECEASED: Mike Dueker, 50, who had worked for Russell Investment for five years, was found dead close to the Tacoma Narrows Bridge in Washington State. Dueker was reported missing on January 29, 2014. Police stated that he “could have” jumped over a fence and fallen 15 meters to his death, and are treating the case as a suicide.

Before joining Russell Investments, Dueker was an assistant vice president and research economist at the Federal Reserve Bank of St. Louis from 1991 to 2008. There he served as an associate editor of the Journal of Business and Economic Statistics and was editor of Monetary Trends, a monthly publication of the St. Louis Federal Reserve.

In November 2013, the New York Times reported that Russell Investments was one of several investment companies that were under subpoena from New York State regulators investigating potential “pay-to-play” schemes involving New York pension funds.

February 3, 2014:

DECEASED: Ryan Henry Crane, 37, was the Executive Director in JPMorgan’s Global Equities Group. Of particular relevance is that Crane oversaw all of the trade platforms and had close working ties with the now deceased Gabriel Magee of JPMorgan’s London desk. The ties between Mr. Crane and Mr. Magee are undeniable and outright troublesome. The cause of death has not yet been determined, pending the results of a toxicology report.

February 6, 2014:

DECEASED: Richard Talley, 57, was the founder and CEO of American Title, a company he founded in 2001. Talley and his company were under investigation by state insurance regulators at the time of his death. He was found in the garage of his Colorado home by a family member who called authorities. Talley reportedly died from seven or eight “self-inflicted” wounds from a nail gun fired into his torso and head.

The enormity of the lie

One must look back far enough to understand the enormity of the lie and the criminality of bankers and governments alike. We must understand the legal restraints that were severed during the Clinton years and the congress that changed the rules regarding financial institutions. We must understand that the criminal acts were bold and bipartisan, and were designed to consolidate wealth through the destruction of the middle class. All of this is part of a much larger plan to establish a one world economy by “killing” the U.S. dollar and consequently, eradicating the middle class by a cabal of globalists that existed and continue to exist within all sectors of our government. The results will be crippling to not just the United States, but the entire Western world.

What began decades ago is now becoming more transparent under the Obama regime. Perhaps that’s the transparency Obama promised, for we’ve seen little else in terms of transparency with regard to the man known as Barack Hussein Obama. For those not locked into the captured corporate media, we’re starting to see the truth emerging. The truth is that we’ve been living under a giant Ponzi scheme and we, the American citizens, are the suckers. As illustrated by the list of dead bankers above, however, the power elite need a bit more time before the extent of their criminality is revealed. They need a bit more time to transfer the remaining wealth from middle-class America to their private coffers. Timing is everything, and a magic act only works when all props are in place before the illusion is performed. Only when their timing is right will the slumbering Americans realize the extent of the illusion by which they’ve been entranced, at which time they will be forced into submission to accept a financial reset that will ultimately subjugate them to a global economy. I contend that this is the reason for the recent spate of deaths, for those who met their tragic and untimely end had the ability to expose this nefarious agenda by what they knew or discovered, or what they would reveal under subpoena and the damage they could cause to the globalist financial agenda.

It is an insult to the public intellect that the media so readily pushes the official line that the deaths were all suicides given the unusual circumstances surrounding nearly all of those listed. This itself should be ringing alarm bells with anyone of reasonable sensibilities, or at last those who are paying the slightest bit of attention to the larger picture. The media is either complicit or completely inept. While incompetence is evident in many areas, even the most inept journalist or media company cannot possible deny what exists directly in front of them. They can only withhold the truth.

Connecting the dots

To understand what is taking place, I contacted a financial source who has accurately predicted many events that we are now seeing taking place, including the deaths of certain financial people for an explanation. In fact, he actually predicted that we would see a “clean-up” of individuals who posed a serious threat to certain too-big-to-fail-or-jail banks and “banksters” a full week before the events began to unfold. Truth be told, I initially greeted his prediction with some skepticism, for such things don’t really happen in the real world, or so the obedient and well-managed media tells me.

V, The Guerrilla Economist” as he is known in the alternative media, has provided numerous insider alerts for Steve Quayle‘s website and has appeared as a regular guest on The Hagmann & Hagmann Report. He has an undeniable track record for accuracy, which has earned my respect. However, I thought that he had taken temporary leave of his senses when he twice suggested that there will be some house cleaning done of anyone posing a threat to the agenda of certain banks and the globalist agenda on our broadcasts of November 20, 2013, and again on January 10, 2014. In a separate venue, he described what was about to take place by using the analogy of the movie The International. Several dead bodies and a missing journalist later, that analogy has been proven accurate.

The fact is that we are seeing a clean-up where JPMorgan and Deutsche Bank seems to appear at the epicenter of it all. In January, JPMorgan admitted facilitating the Bernie Madoff Ponzi scheme by turning its head to his activities. Despite this admission, the U.S. Department of Justice under Eric Holder declined to send anyone to jail under a deferred prosecution agreement. Yet this is only the proverbial tip of the iceberg.

In March, 2013 the U.S. Senate Permanent Subcommittee on Investigations released a heavily redacted 307-page report detailing the financial irregularities surrounding the actions of JPMorgan and the deliberate withholding of critical financial information by JPMorgan. Prominent in the mix are the actions of Bruno Iksil, who earned the nickname the “London Whale,” for his “casino bets” of other’s money that caused billions of dollars in losses. Yet, no cooperation was provided by Dimon’s foot soldiers as they failed to testify or otherwise cooperate with Senate investigators.

Remember the damage control and the deliberate downplaying by Jamie Dimon, who maintained that there was nothing to see here with regard to the “London Whale” criminal activities? What was originally described as a loss of perhaps $2 billion ultimately turned into many more times that, yet the actual numbers are still hidden from the public. Such events occurred under the noses of numerous financial executives who had knowledge that went undisclosed.

As we fast forward to today and the current spate of mysterious deaths, we begin to see that many of those who died existed on the periphery of events in the criminal actions of the financial industry. Moreover, it is reasonable to conclude that they possessed knowledge that if disclosed, could have interrupted the magic act taking place for the awestruck audience, captivated by the carefully crafted words of Yellen, her predecessors and the operatives within government who’s duty it is to regulate whatever is left of our current financial system.

That regulation is now a thing of the past. What we have today is a system of facilitation and co-operation between the largest corporations and financial institutions and the U.S. and our intelligence agencies. We now have the “too-big-to-fails” operating with impunity as a result of an incestuous, if not outright unconstitutional relationship where the banks are acting as operational assets for the CIA, the NYPD, and other intelligence and police agencies.

The JPMorgan-CIA-NYPD connection

Perhaps one of the best kept secrets, at least from the majority of the American public, is the integration and overlap between the “too-big-to-fail-and-jail” banks and the most advanced system of surveillance in the U.S. Would it surprise you to learn that the very banks that brought the United States to the brink of financial collapse in 2008, who looted the American public and continue to engage in what most perceive as criminal behavior in the financial venue not only have ties to the CIA, but are actually partnered with the CIA and NYPD surveillance of all of lower Manhattan? That’s right, the big banks such as JPMorgan, Citigroup and others have their own desks and surveillance monitors at a facility known as the Lower Manhattan Security Coordination Center, located at 55 Broadway, deep in the center of New York’s financial district.

The big banks—the very banks that have been the focus of fraud and corruption investigations have their own system of cameras, more than 2,000 in number, and operate them in tandem with NYPD surveillance cameras at a center that was funded with taxpayer money. Every square inch of lower Manhattan is under surveillance 24/7, not just by NYPD, but by JP Morgan and other members of the so-called “one percent.” Carefully consider the implications of this pact.

JPMorgan Chase and others have had long and quite intimate ties with the CIA. Today, however, the line between the banks that control our financial present and future and police and intelligence agencies no longer exist. This relationship of mutual benefit permits the CIA to use the financial institutions to “handle the money” for their various global initiatives, while it provides the banks a stable of “professional assistants” to handle their “security,” whether such security issues arise in the U.S., London, or elsewhere. Highly trained and skilled CIA operatives now work within the system of interlocked financial institutions that have been at the epicenter of the most egregious crimes involving the theft from our bank accounts and retirement savings.

Please stop and consider this for a moment. The very banks and their top executives who have not only brought the U.S. to the brink of financial collapse and Martial Law, engaged or facilitated in various criminal actions that resulted in fines (but no jail time) for the perpetrators, are working hand-in-hand with the CIA. Not only that, they are working in tandem with the NYPD at their surveillance centers, watching and videotaping every move made by anyone—including potential whistleblowers within their vast purview. By the way, this is no ordinary surveillance or surveillance cameras. You won’t find these cameras on the shelves of your local spy shop. These cameras can focus on the footnotes of a book you might be reading, or the words written on a piece of paper being held by an unwitting person. They employ facial recognition and other advanced visual and data aggregation capabilities, and the extent of their technological abilities is increasing every day.

Additionally, the data is collected and maintained, and files are created of people and groups who are merely going about their daily lives. Equally important, files are created and maintained of problem children and groups, like the Occupy movement and others who lawfully exercise their constitutional rights to protest the actions of the one-percent. Consider this in the context of the Occupy Wall Street protests. where the protesters were not only under police surveillance, but surveillance by the banks and their corporate officers against whom they were protesting. And it was all done with the approval and assistance of the police, in this case the NYPD, and U.S. intelligence agencies.

Now consider the plight of a whistleblower who wants to expose criminality within the ranks of a too-big-to-fail. The institution who is engaged in purported criminality based on the findings of the whistleblower can observe the whistleblower’s every move. Where they go, who they meet and what they are carrying to such a meeting. They can be tracked to a residence, a business, or even to their psychiatrist’s office, place of ill repute, or the residence of some significant other outside of their marriage, all of which would be invaluable for blackmail.

Perhaps the potential whistleblower is clean and free from anything that might dissuade them from revealing what they know, their case could be turned over to the in-house security of former CIA agents for proper disposition. It makes the movie The Firm look like child’s play by comparison.

This is not some fanciful delusion. There is proof of this that exists. The New York Civil Liberties Union (NYCLU) has documented the increasingly extensive surveillance being conducted in lower Manhattan and throughout the city. They have verified that not only are our constitutional rights being violated every minute of every day, but the fruits of surveillance by police and corporate entities are shared between the police, the intelligence agencies and private financial institutions, without restraint on the distribution on such findings.

Are you engaged in a protesting against the criminality of the one-percent? Well, they one-percent are watching you, and they are literally seated right next to the police. Are you a journalist following up on possible “bankster” corruption by meeting a potential whistleblower? You better understand that the bankster target of your investigation is watching you, in real-time, with the complete approval and cooperation of the police. As documented by the NYCLU, you are likely now “on file,” and all data compiled is maintained and accessible not just to law enforcement, but to the very target of your investigation—in real time.

Such surveillance and integration between big banks, law enforcement and spy agencies is not just limited to lower Manhattan or even the United States. It is also most prevalent in London and other cities where international banking is conducted.

Real-time surveillance and the close working relationship between the “one-percenters,” police and the intelligence agencies gives the targets of criminal probes the ability to be pro-active when necessary. It’s all being done under the pretext of national security when it would appear that the real objective is to insulate the banksters from potential problems that exposure of their criminal actions might cause.

Oh, and don’t forget that it is us who are paying for this.

Perhaps we would be well advised to not only consider the capabilities of the surveillance apparatus that exists where the big banks and police are working at adjacent surveillance terminals at 55 Broadway and other locations, but the incestuous working relationship between the banks and the CIA when we read about banker suicides.

Do not expect to see any exclusive report on this in the corporate media, for they, as requested have dutifully maintained their code of silence by not showing pictures of the brass name plates that identify the bankster terminals situated adjacent to the police terminals during photo shoots of this super-secret surveillance complex a few years ago. As detailed by the tenacious and indefatigable Pam Martens, journalist for Wall Street on Parade in this article, the captured media took a pass on revealing the whole truth about what’s really going on at 55 Broadway.

What has been revealed here is merely the tip of the iceberg. The tentacles of the corporate elite, facilitated and empowered by the CIA, the NYPD top brass, and other agencies have now covertly and effectively succeeded in invading everything you do. The fruits of this operation are being used to advance their global financial agenda and silence the opposition.

Knowing this, is it possible that the dead bodies that are increasing in number are the results of this joint surveillance operation? You will not find any answers in the mainstream media. The big banks have chosen to remain silent, even in the face of subpoenas, and have yet to face any legal consequences for their contempt. It’s not, however, merely contempt of congress or pseudo-investigative bodies. It’s their contempt of humanity, of you and me, and the victims that lie dead, leaving their families broken and wanting for the truth.

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