edf40wrjww2CF_PaperMaster:Desc
How Prime Bank Guarantee Scams Work
They offer you extremely high yields in a relatively short period of time through access to "bank guarantees" which they say they can buy at a discount and sell shortly thereafter at an enormous premium.
You are told that institutions like pension funds stand ready to buy "Prime Bank letters of credit" from large banks, with purchases of over $100 million affording the highest return, but because regulatory restrictions prevent the banks from selling directly to institutional investors a middle man is required to handle the transaction at a contractually prearranged profit.
The big banks around the world supposedly lend each other money by issuing notes with face values of $100 million or more. These notes can be resold a number of times at a discount (profit) to other lenders so that the original issuer can reap a handsome profit in a relatively short time. The term of the notes vary from 30 days to a year or more.
As an insider they are able to buy below par at, say 77 cents then sell for 79 cents on a continuous basis. For example, if $10 million worth of "bank guarantees" can be sold at about a two percent profit on ten separate occasions, or "traunches," you will receive a 20% profit in about thirty days.
An Exclusive Club
They say that "the Rothchilds and the Rockefellers set up the process over fifty years ago during the creation of the Marshall Plan as a means of utilizing Eurodollars which were beginning to flow overseas, and to fund "off-the-balance-sheet" rebuilding projects in developing countries."
They further explain: "The prime banks have generally dealt only with the world's wealthiest, such as the Saudis or ...