Should we trust the banks and the banking industry? The banks and the industry say yes, but the facts and their track record over many years suggest that we shouldn’t trust them. Trevor Kitchen is one man who knows only too well that they are not to be trusted, after he started to track the unusual rise of the Swiss franc.
Trevor’s knowledge and diligence led him to become the key whistleblower in exposing the 2013 Forex scandal. As the Wikipedia entry on the scandal details very concisely, this massive fraud was executed by senior currency traders who operated in named ‘clubs’ such as The Cartel, The Bandits, One Team One Dream, and the Mafia. Alongside indulging in lurid discussions about women and drugs, the participating members of these clubs manipulated the market exchange rates to deliver massive fraudulent gains for themselves and others. At the same time, they defrauded the public. In 2014, fraudulent losses for Britain’s 20.7 million pension holders were estimated to be £7.5 billion per year.
Join Trevor Kitchen and Brian Gerrish as Trevor describes the nature and scale of the Forex fraud, and his treatment by the banking industry and regulators following presentation of his whistleblowing evidence. Far from being praised and protected, Trevor became an enemy of the Swiss banking deep state. He was accused of criminal acts for which he was arrested, strip-searched and imprisoned with the connivance of Portuguese and Dutch authorities, before finally reaching safety in an undeclared location.
Our discussions range from the corrupt global banking industry to the "archaic" criminalisation of calling anyone a fraudster in every continental European country besides Norway; the closing of ranks by the legal fraternity in Switzerland and in every Western country; corruption inside the EU during Neil Kinnock’s reign as Vice-President of the European Commission; the bravery of Dutch whistleblower and former Member of the European Parliament, Paul van Buitenen; corruption inside British city councils; and whitewashing by the EU's Anti-Fraud Office, OLAF.