Last week we left off with how the shift in ownership of investment banks from partners to shareholders made it much easier for banks to take on greater and greater risks.
This week we cover the “climate of fear” that exists within investment banks, how the climate of fear affects the behavior of those who work there, and what this means for you.
In Swimming with Sharks: Inside the World of the Bankers, author Joris Jujendijk writes about the hiring and firing culture within the investment banking world. Bankers are terrified when they get a phone call from the Human Resources Department, because they know it means they are about to be fired. He writes, “people in the City [the London banking district] can be out the door in five minutes.”[i]He means that literally. Sometimes employees can’t even stop back by their desks after being fired to pick up their belongings because security is escorting them out the door. They have to call a co-worker to get their stuff out. No one’s job is safe, no matter whether you are a manager or staff member. People are continually hired and fired, switching jobs, switching banks, no loyalties.
The bottom line is whether or not you are making enough money for the bank. But the way to make lots of money often entails taking greater and greater risks. The less loyalty bankers feel towards their employer bank, their co-workers, and their clients, the more risk the bankers are willing to take to meet revenue targets. But if you remember from last week, those who really bear these risks are first the shareholders, and second, all taxpayers – that means you. Your tax dollars will pay for the next bailout. How will governments then replace those tax dollars they spent on the bailout?
A Friend of Medjugorje, on his Radio WAVE Mejanomics broadcasts has previously spoken about what methods governments may use. He mentioned years ago that Obama had openly discussed the idea that peoples’ retirement accounts should really be accessible for public use if the need arose. When the next crash comes, governments will get the money from you, of course, and they may very well come directly to your bank accounts.
Lujendijk writes that one banker told him that his boss used to say, “Every day you’re getting closer to getting fired.”[i]That same phrase could be applied to the next financial collapse. We know collapse is coming, but we cannot say for certain when that will be. But one thing is certain, with each passing day we are one day closer to collapse.
We want to help you position yourself strongly for the future through physical holding of silver in the Miraculous Medal Medjugorje Round. Realize also that your future security rests also very much on those who surround you. If those around you, your family, friends, and neighbors, also move themselves into a strong position, this broadens the ring of security around you. Your referral of family and friends is a positive not only for them, but for you as well, and it widens the reach of the Miraculous Medal Medjugorje Round for the sake of conversion now and in future. The 36th anniversary of Our Lady’s Medjugorje apparitions is just 10 days away. Make this anniversary a landmark for your physical life as well – make an informed and firm decision to break with the existing financial systems.
We look forward to next week’s part of the series. We are just a phone call away at 877-936-7686 and available to answer any questions you may have. God bless you.
Century Silver Exchange
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