Josh Sigurdson talks with author and economic analyst John Sneisen about a recent admission by Wells Fargo’s new CEO Tim Sloan that Wells in fact created 1.4 million more accounts than previously noted!
These fraudulent accounts cover the period of January 2009 to September 2016. This is a 67% higher rate than Wells Fargo was previously caught red handed a year ago creating 2.1 million accounts.
Wells Fargo’s CEO put out an apology calling the actions the bank took “unacceptable”, but it’s the third or fourth apology we’ve heard from Wells Fargo in the last year.
Wells Fargo was also caught forcing insurance on 20,000 people who did not ask for insurance earlier this year, leading to many people’s vehicles being repossessed.
These banks are starting to get a lot more out in the open about their fraud. This is yet another sign that we are reaching the end of a cycle in the markets and monetary system. This isn’t new, but it’s not even being well hidden anymore which speaks volumes.
It’s time to break free from the banking system and start being independent and financially responsible or reap the consequences.
Stay tuned as we continue to cover this insanity.
Video edited by Josh Sigurdson
John Thore Stub Sneisen
Graphics by Bryan Foerster and Josh Sigurdson
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