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25 years big business and banks have been secretly taking out millions of life insurance policies on their workers and naming the corporation the beneficiary of the death benefit without the knowledge of the employee. The individual policies are frequently in the hundreds of thousands of dollars and sometimes millions. To keep track of employees who have left the company, deaths are routinely tracked through the Social Security Administration. The policies became known as “dead peasant” or “janitor” policies because corporations took out life insurance on millions of low-wage workers, including janitors, without their knowledge or consent.
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In 2003, the General Accountability Office (GAO) released a study which found that multiple companies held policies on the same individual and that 3,209 banks and thrifts had current cash values in these policies totaling $56.3 billion.
I'd forgotten all about this.
I had a lawyer once who wanted me to get life insurance with him the beneficiary.
^^ You'll notice they aren't being suicided anymore but "felled from roofs". I wonder if that has to do with investigations demanded by some family members of other bankers that were "suicided".
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Not much is known yet about the circumstances of the suicide, however according to early reports, the man was 33-years-old, surnamed Lee, and believed to be a forex trader for JP Morgan.
Picture included. (though it is very bad) Gruesome street pics though. .....
Commuters noticed the man at the top of Chater House around 2pm to 3pm in the afternoon and called the police but policemen who arrived at the scene failed to convince the man not to jump. The deceased was sent to the hospital immediately but was pronounced dead on arrival. As several lanes on Connaught Road Central were closed because of the incident, traffic in the area were chaotic.
02-18-2014, 03:36 PM
Guest
n/a posts
Interesting...why? Why kill yourself? Why want to die?
This is a bit more on possible connections. It is from January, so didn't include all the deaths. It mentions the other death someone mentioned with the Zurich insurance company though, which is why I am posting it. Also mentions the Italian gentlemen, falling in 2013. Keep in mind the banks asking for some relief with Basel III compliance. These accords always have serious economic consequences on economies. Also ties into the pension funds. On Death and Derivatives – UPDATED
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So imagine you are a large bank with huge derivatives business much of which covers bets in your equally large Foreign Exchange business. Essentially that boat in which you are hoping you can ‘net out’ about 70 Trillion dollar’s worth of derivatives positions is now being bounced about by several large storms.
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One of the ways Ackermann had grown Deutsche so spectacularly was to make it the world’s largest player in the derivatives market. Nearly all of that 72 Trillion dollars’ worth of derivative exposure was accumulated under his leadership. Mr Ackermann had built a derivatives position 18 times larger than the GDP of Germany itself.
A year and a half after Mr Ackermann took over at Zurich Insurance Group, Zurich announced it was going to start offering banks a way of holding less capital against their risky assets/loans by offering to insure or ‘buy’ the risk from them. This is know as Regulatory Capital Trade. As one of the archtiects of the trade was quoted at the time,
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Holding more capital against risk might be prudent but it is hell on bank growth and bonuses. Regulatory Capital Arbitrage, is how you game (quite legally, of course) that particuar regulation. The bank gets to keep the underlying asset, while the risk is ‘sold’ to or insured by (depends on how you account for it at both ends) someone else. In this case Ackermann’s Zurich Insurance Group.
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The way that risk has been being sold out of banks and is ending up in pensions is something I wrote about in some detail back in 2012, in “Where has all the Risk Gone.” So this risk has been growing for some time.
When the next blow out comes I think it is very likely we will find that it is the pension and insurance companies that turn to us and say ‘bail us or watch everything you saved disappear’.
One is going to be male, female or a maybe a rare combo, so I would say this is way too broad a net. LOL.
Autumn was a female btw.
Income class and occupation would be better gauges. However, given recent events there are far more narrow connections, even given limited information, than that. I am sure the indexes and insurance policies use more narrow factors than the sex.
This is also an intriguing development regarding crypto currency and JPM.
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Originally Posted by CDusr
This is also an interesting development from end of 2013. Remember what I said about options?
This could all tie in with other patents related to augmented reality, as well. JPMorganpatents Bitcoin-like payment system - Dec. 10, 2013
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The system includes digital wallets, the ability to transfer money to anyone and anonymity too, according to a patent application filed to the U.S. Patent and Trade Office on Aug. 5. A blog on Let's Talk Bitcoin first reported the story.
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It does, however, say what led to its development: The modern financial system is outdated.
In the patent application, JPMorgan notes two trends that are making the old banking system obsolete. One is that merchants are establishing direct relationships with customers -- and they don't want middlemen slowing down the transfer of money. The second is that digital products are often sold in small increments for very low prices, and the currently high price of per-transaction fees don't make sense.
Last edited by CDusr; 03-04-2014 at 04:09 PM..
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