Commentary - 05/02/2008

A Peek Behind Barclay's Curtain

Now we get a peek behind Barclay's curtain, this perfect example WHY I point to Barclays on my web site: Barclays Bank accused of aiding Robert Mugabe regime.

Barclays Bank has been accused of providing "personal banking services" for up to four members of Robert Mugabe's regime who have benefited from the controversial land-grabs from white farmers in Zimbabwe.
This gives greater meaning to Barclay's slogan of "Quietly Conquering The World of Finance.

A Barclay's spokesman also said:

"Barclays has been in Zimbabwe since 1912 and is deeply committed to supporting its 150,000 customers in the country in what is clearly a difficult operating environment. Our 1,000 Zimbabwean employees are providing an excellent service and, as a major employer, we are fully committed to their welfare."
Isn't that amazing? They were in Zimbabwe a whole year before they helped create our Federal Reserve central bank.

It's also especially interesting how they turn out to be involved in EVERY major money center bank and EVERY major investment brokerage.

Now that economics are a little out of control, where does Barclay's get help?

Bank bail-outs to be kept secret

The Bank of England has imposed a permanent news blackout on its 50bn-plus plan to ease the credit crunch.

Ferocious and unprecedented secrecy means taxpayers will never know the names of the banks that have been supported through the special liquidity scheme, which was unveiled by Bank Governor Mervyn King last week.

But don't forget that in late 2007, Barclays also "requested" assistence from our Federal Reserve, documented here.
Barclays and Royal Bank of Scotland have lined up emergency funds of up to $30bn (15bn) from the US Federal Reserve to bail out American clients caught up in the global credit crunch.
Perhaps this is the reason: Sometimes The Dragon Wins

2008 by Edward Ulysses Cate
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