The dangers of intubation and how this practice affected COVID-19 patients

[J.R.K]

I am slowly working my way through the book Dope Inc, an eye opening insight into the business of the illegal drug trade. One of the solutions they opine on to eliminate the drug trade was to investigate the accountants of the banks. There is a limited amount of goods that can be purchased for cash and big ticket items such as cars, trucks, boats, helicopters and now even submarines require a financial institution to facilitate these purchases. Interestingly as I thought on this, a story broke in the United States about one of Canadas largest banks be found guilty for this exact type of activity.

 

[Zack Vegas]

“There is a limited amount of goods that can be purchased for cash and big ticket items such as cars, trucks, boats, helicopters and now even submarines require a financial institution to facilitate these purchases.”

Funny you should say that.  Under Title 31 (Money and Finance), “Financial Institution” can identify 26 different types of entities/individuals/businesses, including-

“(T)a business engaged in vehicle sales, including automobile, airplane, and boat sales”

https://www.law.cornell.edu/uscode/text/31/5312#a_2

Since the definition also includes banks and credit unions, and private bankers (of which every American Citizen is one, whether they know it or not), most purchases of said goods probably involve 3 or more “financial institutions.”

This isn’t just a technicality, either.  All contracts to buy such items create commercial paper that can then be brought, sold, and traded.  This is true, even if the buyer pays in full at the time of sale.  What is used as “money” is literally created in pretty much every transaction for one of the vehicles you listed.

[J.R.K]

That is an interesting piece of information <span class=”atwho-inserted” contenteditable=”false” data-atwho-at-query=”@Za”>@Zack Vegas</span>. It brings up a magnitude of questions for me right now. Not the least of which is some advertisement’s on YouTube as of late offering the knowledge of how to become your own bank. It piqued my interest but that is as far as I went.

But with regards to the financial proceeds from crime being laundered through financial institutions such as drug money. As seen with T.D. Bank’s recent convictions and subsequent fines. This is a criminal act so would an individual not also bring upon oneself the same type of sentence or possible incarceration (even though no living person was fined or incarcerated  for these legal infractions just the corporation which is considered an entity if my understanding is correct)  if they were acting as their own financial institution?

[Zack Vegas]

Well, just because you could technically be a “Private Banker” or “Financial Institution,” it doesn’t mean you will be a successful one.  The claim of “become your own bank!” could refer to a number of different ideas, from simply using an app to track finances, into ideas like making money by acquiring profitable commercial paper.  This is one of the ideas that Robert Kyosaki recommends in “Rich Dad, Poor Dad,” and it’s a great idea for wealth creation, but one that the majority of people don’t use, or even have any idea about.  There could be a number of ways to do such things, maybe that’s what some of those ads are getting at.  One of the better concepts I’ve seen is the IBC, promoted by the late Nelson Nash.  You might to look up some of his books or videos.

Agents for an entity (like a bank or business) won’t be held personally liable for their actions if they are acting within their delegated authority.  It’s the same concept that applies in government.  Senator Ted Cruz did a great job illustrating this concept in this line of questioning-

So, and accountant doing some accounting for TD Bank on an account in which some illegal activity was taking place wouldn’t face any personal liability, especially if he had no knowledge of any such activity.  But, if that same accountant forged a signature, he would face personal liability.

One of the purposes of vehicles like corporations and trusts is to limit liability.  So, someone working in the capacity of a sole proprietor would face personal liability if his company was facing criminal charges, while employees of a corporation (including high level employees, like a CEO) would not.  Of course, every case and situation is different, so there could of course be situations where both an individual and a corporation face charges.

There is also the whole issue of exactly what the legal system is, and how it operates, but that’s a different issue.  But, there is a huge financial component to the system, even the criminal system.  Even commonly known legal phrases have financial lingo in them (eg, CHARGE the defendant, he contacted a Bail BONDsman, he finally PAID his DEBT to society, and so on).  Anyone who’s paid a traffic ticket (which is criminal in nature) understands there is a financial component to the legal system.  The question is, how big a component is it?

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