Bankster weapons of mass destruction: CDSs and CDOs and their origins
Between 1936 and 1982, certain kinds of derivatives, where you weren't a party to the sale, were illegal. In other words, companies that needed to buy futures options (a kind of insurance) to protect and insure their business success could buy that kind of insurance. Example: An airline company that wanted to make sure it would be able to buy fuel at a given price (rather than at a suddenly inflated price some months ahead) could buy a kind of insurance that would guarantee that they would have the opportunity to buy fuel at a stable price, regardless of future market fluctuations in the price. Specifically they could purchase an "option' to buy a certain amount of fuel over a certain time period, for a specified price. They would pay a fee for that privilege (a kind of insurance premium), and it would insure that they could get that fuel, over a specified period of time, at a price that was consistent with continuing profit margins that were acceptable to them.
However, in 1982, the Commodity Futures Trading Act legalized modern options trading. Then, in 1987, a guy by the name of Michael Milken invented something called the Collateralized Debt Obligation (CDO), which allowed banks to bet on something happening (or not happening) in the financial world, even though they had no "skin in the game,' i.e. even though they are not directly involved in any way such as the airline and the oil company were involved, in the example provided in the previous paragraph).
Today banksters have the power to break not just a company, but an entire country, and maybe more than one. And unlike George Soros, they don't need money to do this; all they need are synthetic euro shorts or credit default swaps (CDSs) [which don't require any real money to execute]. By this means a company like Goldman Sachs now has the power to create $10 trillion worth of "euro shorts" (shorthand lingo for a bet against a particular country). By this means it can dominate whatever governments might want to do. And a big powerful company like Goldman can create "shorts" faster than Europe can create money.'
Eventually Europeans will realize that the CDS speculators had all the cards in the poker game all along [meaning that they had inside information regarding what the EU Central bank and the IMF were going to do relative to Greek debt]. But by that time it will be too late: they will already have been fleeced.
George Soros showed the way by attacking the Bank of England
The prototype for how to make hundreds of billions of dollars by nearly bankrupting a country was established by George Soros in 1992 when he essentially attacked the Bank of England in 1992, which he knew had a finite amount of dollars. George began to sell sterling, taking dollars in payment for them, while the bank bought sterling and sold the dollars to George. The Bank of England had to do this to defend their having pegged the sterling to dollars. All George had to do was sell more sterling than they had dollars with which to buy it, and he would win. But he needed real money to do that -- and he had it.
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