Wells Fargo Home Mortgage (WFC) has fired a Des Moines worker over a 1963 incident at a Laundromat involving a fake dime in the wake of new employment guidelines.Richard Eggers, 68, was fired in July from his job as a customer service representative for putting a cardboard cutout of a dime in a washing machine nearly 50 years ago in Carlisle, the Des Moines Register reported Monday.Warren County court records show Eggers was convicted of operating a coin-changing machine by false means. Eggers called it a "stupid stunt," but questions his firing.Big banks have been firing low-level employees like Eggers since new federal banking employment guidelines were enacted in May 2011 and new mortgage employment guidelines took hold in February, the newspaper said. The tougher standards are meant to clear out executives and mid-level bank employees guilty of transactional crimes — such as identity theft and money laundering — but are being applied across the board because of possible fines for noncompliance.
If using a fake dime is worthy of firing, then what penalty
should await those who launder* billions of fake dollars on behalf of the Federal
Reserve? It is simply reprehensible that
Wells Fargo would fire a man for using a fake dime yet not dismantle their own
company for laundering at least $2 billion* of fictitious money. This goes beyond mere irony, and even beyond
hypocrisy. This is pure evil, and all
those who work at Wells Fargo should lose their jobs, while those who are/were
the heads of the company should go to jail for defrauding the American people,
and the company should have its corporate status revoked and be disbanded.
* Wells Fargo received about $25 billion from TARP. The federal budget for 2008 was $2.9
trillion, while the deficit was $240 billion.
This means that, proportionally, at least $2 billion of the $25 billion
that Wells Fargo received from TARP was from the deficit. The federal deficit is nothing more than
monetized debt, since federal services are paid for, but not always by the
money from tax receipts. To make up the
deficit, the federal treasury sells debt (issues bonds), which are then bought
by investors, foreign nations, and the federal reserve. The federal reserve is the largest holder of
US bonds, and the sale of US bonds to the federal reserve is referred to as
monetizing the debt, because federal debt is converted into money, and the
money is created out of thin air.
Therefore, a significant portion of the federal debt is actually
realized as inflation. And therefore it
can be accurately claimed that Wells Fargo launders fictitious money because it
receives funds that are nothing more than monetized debt, which is really money
created out of thin air.
