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What Are Derivatives and Why Do They Imperil the U.S. Economy?

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Uncannily, Thomas Jefferson seems to have foreseen all this more than 200 years ago:

"The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution.   If the American People allow private banks to control the issuance of their currency, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered."

  -- Thomas Jefferson

This quote, in the opinion of financial adviser Greg McCoach of the Wealth Daily organization, sums up the ghastly situation that has come to pass, which will soon, he says, engulf everyone -- not just the people whose personal savings accounts in Cyprus have recently been stolen by banksters.

Thomas Jefferson fully understood what banksters would create for all of us if they were left unchecked to their own devices.   And in fact they have been allowed to do exactly that, by way of the politicians they have essentially bought, and now control.   Because of this, banksters are now treated as a special class of citizens that can literally do no wrong.   Anything they do is forgiven and papered over.

This is how a country devolves from being a nation of laws, with liberty and justice for all, into a nation ruled by men with absolute control, who gradually, through their own greed and self-centeredness, and purely for their own benefit, make a world of wonder into a world of abject misery for growing numbers of others.

  ===================

Over the last few years, political and financial leaders in Europe and the United States have implemented policies, regulations, and bailouts costing global taxpayers trillions of dollars, and it's all been with the promise that these measures would lead to economic growth and recovery.   But that turns out to have been a pack of lies.   We have been royally tricked.

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We've seen it time and time again over the last five years:   Governments overstepping their authority and punishing their citizens -- because of the actions of elite banking conglomerates, dirty politicians, and bought-off regulators.

Unfortunately, what has happened in Iceland, Greece, Ireland, Hungary, Argentina, Spain, and Portugal in the last five years could very well be just the beginning of far worse consequences elsewhere, soon to wreak havoc throughout the US and the entire world.

 The game plan moving forward is the same rape and pillage routine, in the name of purported recovery and stability, but on a much grander scale, worldwide.   Today we're seeing it in Cyprus, where Eurozone financiers have threatened to not only rob the populace of their personal savings, but shut off access to bank accounts indefinitely.   And, as we've seen, the people are having none of it.   Hopefully they fight back and win the day, but this bankster robbery will soon become commonplace in multiple locations throughout the world.

What happened in Europe a few weeks ago is yet further proof that nothing they've done has fixed the underlying fundamental problems surrounding the events that led to the crash of 2008.

The Cyprus situation is just a trial balloon the banksters are sending out to see how much they can get away with -- knowing they must and will eventually implement these sorts of policies in many other places.

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For those who don't believe the bought-and-paid-for stooges of their government are prepared to take extreme measures that may include the seizing of retirement accounts, cash savings, or even gold (as FDR did in 1933), look no further than Cyprus, the latest recipient of bank bailouts.   The European Union has made the determination that the people of Cyprus are now responsible for the hundreds of billions of dollars in bad bets made by their government and bank financiers, and they are moving to confiscate money directly from the bank accounts of every person who has savings in the country.

In a recent King World News interview, former Assistant Secretary of the U.S. Treasury, Dr. Paul Craig Roberts, talked about the crisis in Cyprus, warning that "banks are now moving to enslave humanity."   Roberts went on to say, "You see, this crisis is being used by the EU bureaucracy in Brussels to destroy the financial sovereignty of the individual countries.   That's what this is all about.   They are saying, 'We can't trust you with the euro because you create too much debt.   So we're going to decide your budget, your tax policies, and your spending policies."   And we're going to take your money as required.

Jean-Claude Trichet, the former head of the European Central Bank, made this clear in all of his public speeches, that this is where things are headed.   So what you see is that the whole bailout is to be made at the expense of the public.   The purpose is to destroy the sovereignty of the individual members, and to concentrate power in Brussels and in the private banks.

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Several years after receiving my M.A. in social science (interdisciplinary studies) I was an instructor at S.F. State University for a year, but then went back to designing automated machinery, and then tech writing, in Silicon Valley. I've (more...)
 

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David Stockman, former budget director under Reag... by Richard Clark on Friday, Apr 19, 2013 at 1:11:03 PM
. . bankster-controlled ship-of-state, i.e. from t... by Richard Clark on Friday, Apr 19, 2013 at 1:55:26 PM
Paul Craig Roberts (and me, 3 years earlier) calle... by Scott Baker on Friday, Apr 19, 2013 at 3:55:10 PM
. . don't you think the very rational solutions yo... by Richard Clark on Friday, Apr 19, 2013 at 5:33:21 PM
Unfortunately, you both are in the realm of the re... by Dennis Kaiser on Saturday, Apr 20, 2013 at 6:03:46 AM
Thanks for the article Richard...... by Dennis Kaiser on Saturday, Apr 20, 2013 at 6:04:22 AM
...it's Reagan's former Assistant Treasury Secreta... by Scott Baker on Sunday, Apr 21, 2013 at 2:25:05 AM
  . . keep our solutions simple so that we ca... by Richard Clark on Sunday, Apr 21, 2013 at 8:41:37 AM
This is actually the Georgist solution, going back... by Scott Baker on Monday, Apr 22, 2013 at 2:16:56 AM
Outlaw "derivatives". Nationalize the firms that d... by Daniel Penisten on Saturday, Apr 20, 2013 at 11:53:03 AM