Crime Against Humanity: Fractional Reserve, Namely Legalized Counterfeiting, 4

These two purposes could hardly be more diametrically opposed. And blurring their differentiation does have consequences – two of them, at the very least. One consequence is conspicuous, and it is en vogue since the last decade, that is, since it reduced to penury scores of people. The other consequence is inconspicuous, and is even more lethal, because in addition to be inconspicuous it is deeper and more basic, though unnoticed because it is deceptively taken for granted as “just the way it is”. It could be said that the conspicuous consequence too, amongst other troubles, stems from the inconspicuous basic consequence; and this is certainly true in terms of relative importances.
The conspicuous consequence has been the removal of the separation between investment banks and savings banks deliberately carried out a few decades ago. Savings banks share the aim of, and thus come under, deposit banking, certainly not investment banking; for the very good reason that when it comes to one’s savings people favour protecting them rather then endangering them. But once stripped of their restraints, savings banks became investment banks in disguise, gamblers dressed up as guardians, wolves in sheep’s clothing. So much the better to gobble us up with… They sold high−risk investiments to money savers under false pretenses, and the money savers got screwed as planned. Bankers do so for various forms of personal profit: as intermediaries they want anything sold, and to hell with what gyp is sold to what victim; as accomplices too they want anything sold, but in this case, as they share in the loot snatched from the victim, the worse the scam, the fatter the loot. All this ends up in stoking the monstruous pyramid scheme of the global financial drift I will discuss later in itself as it deserves; suffice it to say here that bankers close cycle with securitisation: dumping on the injured party the compensation for the damage. When investment becomes speculation, someone’s profit is someone else’s loss, and that someone shall get screwed is the prerequisite for setting up the “deal” in the first place: no sucker, no deal.