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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