Send a Tweet
Most Popular Choices
Poll Analyses
Share on Facebook 2 Share on Twitter 1 Printer Friendly Page More Sharing
Exclusive to OpEdNews:
OpEdNews Op Eds    H3'ed 5/22/10

Banksters aren't betting against Greece alone; they've got plans for Portugal, Ireland, and Spain as well

By       (Page 3 of 4 pages) Become a premium member to see this article and all articles as one long page. (View How Many People Read This)   17 comments
Author 8235
Follow Me on Twitter     Message Richard Clark
Become a Fan
  (108 fans)

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.

Next Page  1  |  2  |  3  |  4

(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).


Must Read 1   Interesting 1   Valuable 1  
Rate It | View Ratings

Richard Clark Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

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...)

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Follow Me on Twitter     Writers Guidelines
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
   (Opens new browser window)

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Was Pat Tillman Murdered by an American Sharpshooter to Shut Him up?

New JFK assassination bombshells

Two U.S. presidents implicated by ex-CIA black-ops assassin

The cholesterol - heart disease scam: How the medical-industrial complex is raking in billions at our expense

Four Ticking Time Bombs That Will Soon Ignite a Revolution

The Ultimate Goal of the Bankster-led Political-economic Warfare Being Waged Against Us Is . . . ?

To View Comments or Join the Conversation: