1.4mn more bogus Wells Fargo accounts emerge with Congress asleep at the wheel

What is it going to take for the judiciary to do its job and indict these Bank Directors and CEO's and all involved with the fraud surrounding this illegal activity? Has this country gone too far down the slippery slope of total corruptions and complete debauchery?   What no one is reporting on is the fact these banks have stolen everyone's identity through copyrights, patents and trademarks. The one who owns the copyright, owns the data, i.e., identity. This is done when the unsuspecting homeowner signs documents to get a 'mortgage' on their home. Wells Fargo is the custodian of all these bogus mortgage accounts. This is the real story behind all these "bogus" accounts. The question needs to be asked, do these accounts contain funds? If so, where did these funds originate? Are the name holders of these accounts entitlement holders of these funds?  ____________________________________________
SOURCE: RT
As the tally of fake Wells Fargo accounts balloons to 3.5 million, Congress has yet to discipline the executives, while the financial giant has only paid fines. A coalition of 33 groups is now demanding new hearings and for the bank to be held accountable.
  Wells Fargo and Company increased its estimate of how many accounts were created by 67 percent Thursday. The mega bank issued shocking new disclosures, showing 1.4 million more bogus customer accounts had been created, a significant  increase from previous estimates, the New York Times reported. In addition, Wells Fargo admitted to yet another impropriety, stating that they enrolled more than a half-million customer accounts into their online bill pay service without notifying them. The embattled bank has since agreed to pay out $910,000 to customers who accrued fees or charges related to the unknown accounts. “We are working hard to ensure this never happens again and to build a better bank for the future,” Wells Fargo CEO Timothy J. Sloane said in a statement, the Times reported. There has not yet been word if executives with the bank will be summoned back to Washington to face lawmakers for yet another round of questioning following last year’s Capitol Hill hearing with then-CEO John Stumpf. During that hearing, Wells Fargo and their former CEO paid big bucks, but no other actions have been taken by Congress to thwart future offenses by the company. Now, 33 organizations have banded together to call for new congressional hearings relating to Wells Fargo’s questionable practices. Two groups, Americans for Financial Reform and Public Citizen, are leading the charge to stage new hearings, The left-leaning organizations sent a letter Thursday to the Senate Banking Committee and the House Financial Services Committee, asking to bring Wells Fargo executives back to Capitol Hill to answer for the newly found malpractices. US Senator Sherrod Brown (D-Ohio), head of the Senate Banking Committee, tweeted“Wells Fargo harmed millions more customers than originally disclosed, and continues to avoid accountability.” And Representative Maxine Waters (D-California), suggested in a statement that Wells Fargo’s wrongful acts may be too big to manage. “This disgraceful, illegal, and widespread misconduct is exactly why I will be introducing legislation that breaks up banks – like Wells Fargo – that repeatedly engage in consumer abuses, so that they can never harm consumers again,” she said, according to Bloomberg. Progressive firebrand US Senator Elizabeth Warren (D-Massachusetts) called Wells Fargo’s new disclosure “unbelievable” in a tweet Thursday.

The One Trillion Dollar Consumer Auto Loan Bubble Is Beginning To Burst

By Michael Snyder, on September 6th, 2016 Do you remember the subprime mortgage meltdown from the last financial crisis?  Well, this time around we are facing a subprime auto loan meltdown.  In recent years, auto lenders have become more and more aggressive, and they have been increasingly willing to lend money to people that should not be borrowing money to buy a new vehicle under any circumstances.  Just like with subprime mortgages, this strategy seemed to pay off at first, but now economic reality is beginning to be felt in a major way.  Delinquency rates are up by double digit percentages, and major auto lenders are bracing for hundreds of millions of dollars of losses.  We are a nation that is absolutelydrowning in debt, and we are most definitely going to reap what we have sown. The size of this market is larger than you may imagine.  Earlier this year, the auto loan bubble surpassed the one trillion dollar mark for the first time ever
Americans are borrowing more than ever for new and used vehicles, and 30- and 60-day delinquency rates rose in the second quarter, according to the automotive arm of one of the nation’s largest credit bureaus. The total balance of all outstanding auto loans reached $1.027 trillion between April 1 and June 30, the second consecutive quarter that it surpassed the $1-trillion mark, reports Experian Automotive.
The average size of an auto loan is also at a record high.  At $29,880, it is now just a shade under $30,000. In order to try to help people afford the payments, auto lenders are now stretching loans out for six or even seven years.  At this point it is almost like getting a mortgage. But even with those stretched out loans, the average monthly auto loan payment is now up to a record 499 dollars. That is the average loan size.  To me, this is absolutely infuriating, because only a very small percentage of wealthy Americans are able to afford a $499 monthly payment on a single vehicle. Many middle class American families are only bringing in three or four thousand dollars a month (before taxes).  How in the world do they think that they can afford a five hundred dollar monthly auto loan payment on just one vehicle? Just like with subprime mortgages, people are being taken advantage of severely, and the end result is going to be catastrophic for the U.S. financial system. Already, auto loan delinquencies are rising to very frightening levels.  In July, 60 day subprime loan delinquencies were up 13 percent on a month-over-month basis and were up 17 percent compared to the same month last year. Prime delinquencies were up 12 percent on a month-over-month basis and were up21 percent compared to the same month last year. We have a huge crisis on our hands, and major auto lenders are setting aside massive amounts of cash in order to try to cover these losses.  The following comes from USA Today
In a quarterly filing with the Securities and Exchange Commission, Ford reported in the first half of this year it allowed $449 millionfor credit losses, a 34% increase from the first half of 2015. General Motors reported in a similar filing that it set aside $864 million for credit losses in that same period of 2016, up 14% from a year earlier.
Meanwhile, other big corporations are also alarmed about the economic health of average U.S. consumers.  Just check out what Dollar General CEO Todd Vasos had to say about this just the other day
I know that when we look at globally the overall U.S. population, it seems like things are getting better. But when you really start breaking it down and you look at that core consumer that we serve on the lower economic scale that’s out there, that demographic,things have not gotten any better for her, and arguably, they’re worse. And they’re worse, because rents are accelerating, healthcare is accelerating on her at a very, very rapid clip.
The stock market may seem to be saying that everything is fine (for the moment), but the hard economic numbers are telling a completely different story.  What we are experiencing right now looks so similar to 2008, and this includes big institutions just dropping dead seemingly out of the blue.  On Tuesday, we learned that ITT Technical Institute is immediately shutting down and permanently closing all locations.  This is from a Los Angeles Times report
The company that operates the for-profit chain, one of the country’s largest, announced that it was permanently closing all its campuses nationwide. It blamed the shutdown on the recent move by the U.S. Education Department to ban ITT from enrolling new students who use federal financial aid. “Two quarters ago there were rumors about the school having problems, but they told us that anyone who was already a student would be allowed to finish,” said Wiggins, who works as the assistant manager for a family-run auto parts business and went to ITT to open new opportunities. “Am I angry?” he said. “I’m like angry times 10 million.”
As a result of this shutdown, 35,000 students are suddenly left out in the cold and approximately 8,000 employees have lost their jobs. This is what happens during a major economic downturn.  Large institutions that may have been struggling under the surface for quite a while suddenly give up and drop a bomb on those that were depending on them.  In the months ahead, there will be a lot more examples of this. Already, some of the biggest corporate names in America have been laying offthousands of workers in 2016.  Mass layoffs are usually an early warning sign that big trouble is ahead, so keep a close eye on those companies. The pace of the economic decline has been a bit slower than many (including myself) originally anticipated, but without a doubt it has continued. And it is undeniable that the stage is set for a crisis that will absolutely dwarf 2008.  Our national debt has nearly doubled since the beginning of the last crisis, corporate debt has doubled, student loan debt has crossed the trillion dollar mark, auto loan debt has crossed the trillion dollar mark, and total household debt has crossed the 12 trillion dollar mark. We are living in the greatest debt bubble in world history, and there are signs that this giant bubble is now starting to burst.  And when it does, the pain is going to be greater than most people would dare to imagine.

Trillionaire Rothschild Warns His Own Central Banking System Is Failing and Buys Gold

/ We have been highlighting the wave of billionaires who are all getting out of the stock market this summer and buying gold.  Well, now it’s a trillionaire. Of course, he’s not “officially” on top in the “most wealthy” lists… but that is because the Rothschilds have been experts in hiding their wealth for centuries. When Jacob’s great-great-great-great grandfather, Mayer Amschel Rothschild, died in 1812, his will explicitly stated that no public inventory of his estate was to be published and that no legal action was to be taken with regard to the value of the inheritance. It’s also been suggested that the Rothschilds use private, unrecorded, limited partnerships to accumulate wealth (you know, like all the ones in the Panama Papers). By the end of the 19th century it was estimated that the Rothschild family controlled half the wealth of the world. No one can prove it of course, but it seems likely. You can see their fingerprints on many current events. In fact, their family has likely caused and financed both sides of nearly every war since and control virtually every central bank (to see a full list of all their crimes against humanity click here). And so, when Jacob Rothschild says that he is buying gold because the central banks are out of control, you have to laugh.  He and his family have been in control of the world’s central banks for centuries. But he has said it nonetheless.  In his semi-annual address to shareholders of RIT Capital Partners, Jacob Rothschild, announced that they are reducing stock market and currency exposure and increasing their gold holdings and warns that the world is now in “uncharted waters” and that the consequences are “impossible” to predict. He stated:
The six months under review have seen central bankers continuing what is surely the greatest experiment in monetary policy in the history of the world. We are therefore in uncharted waters and it is impossible to predict the unintended consequences of very low interest rates, with some 30% of global government debt at negative yields, combined with quantitative easing on a massive scale.”
It’s not impossible to predict. There’s going to be a gigantic crash. That’s what Rothschild is telling us and what our analysis of Shemitah and now Jubilee 2016 reveal to us.  Financial disasters track these timelines and Rothschild knows all about it. He’s the best man to predict what is going to happen because he and other globalist elites have created the timeline of catastrophe that we regularly analyze and predict. And he’s being clear that this timeline of catastrophe is moving ahead. For observers like us – and you – he is stating the obvious. And others are making it clear as well. With just a month-and-a-half until the end of the Jubilee Year, very connected billionaires are warning that things are going  horribly wrong. It’s no coincidence. George Soros began to move heavily into gold a few months ago and so did his buddy Crispin Odey. And now Jacob Rothschild himself is moving into gold… We are certain they already own tremendous sums of it… but he is buying even more now in the final days of Jubilee 2016. Rothschild and the others want us to believe they are concerned about this state of affairs. He’s pretending he’s making his move because he is worried. He’s not worried. He KNOWS what is going to happen. He helped plan it. They are acting concerned.  But, it’s just an act. Rothschild, for instance, points out that despite central bank money printing boosting stock markets, this growth is detached from the real economy. In fact, he’s basically warning that years of overprinting and 0% interest rates have destroyed economies around the world. This isn’t just speculation on our part. It’s not hypothetical. Globalist financial elites, and even now the super elites, are rushing into gold. They have the wherewithal to do it but unfortunately others do not.   It is estimated that 0.5% of the average American’s portfolio has exposure to precious metals.  And, that, is probably all they’ll have left once Rothschild prepares to destroy the system he created in order to buy up everything at pennies on the dollar, like they did in 1929.

The US War Machine’s Annual Budget Could Buy Every Homeless American a $1 Million Home

While the UNITED STATES spends all this money propping up the MILITARY INDUSTRIAL COMPLEX, it leaves its infrastructure (power grid) completely vulnerable to an "electromagnetic impulse" (EMP) that would leave us all literally, in the dark where (90%) of us would be dead within (1) year. See the congressional report here. As far as the homeless go, the bail out of the banks in 2008, to the tune of $750B would have gone a long way to resolve this issue. The facts are, every foreclosure in America are fraudulent reconveyances of your homes. There is no injured party, therefore, no cause to sue for damages. The originator of the alleged loan never "loaned" any money, it was a installment lease contract for a future return of goods and services. The standard Uniform FREDDIE MAC FANNIE MAE application was used to invoke the FEDERAL RESERVE mandate to issue credit (your credit) via. money on account which was nothing more than a ledger entry in their books. Its all a scam played out on unsuspecting home owners. Watch the movie, "The Big Short." The UNITED STATES Treasury Secretary Hank Paulson, former Goldman Sachs executive, threw the American people under the bus, while bailing out his buddies on Wall Street. Source: Blacklistednews.com

THE WAR ON CASH: Larry Summers Calls for the Ban on All Notes Above $50

The US Government is moving at break neck speed to move its citizens to a cashless society. There has been more talks about getting rid of the $100 bill, similar to the EU getting rid of the €500 Euro bill, highly praised by none other than Larry Summers, former United States Secretary of the Treasury (1999–2001) in a recent Financial Times Op-ed. If our financial system goes completely digital [cashless], everyone will be reliant on the banking institutions for all commercial transactions. If the US Dollar is confined to the realm of the "intangible", it will further subjugate us to their dominion, control and manipulation. Source: THE WAR ON CASH: Larry Summers Calls for the Ban on All Notes Above $50