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

By   Follow Me on Twitter     Message Richard Clark     Permalink
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But it's the same here in the U.S.  

Who actually runs the U.S. Treasury?   Who actually runs our financial regulatory agencies?   Who actually runs the Fed?   The ghastly truth is:   All of the executives of the banks that are 'too big to fail' run these agencies!   Let's not fool ourselves any longer.  

In other words, the various CEOs who got the banks in trouble are now running economic policy in the United States.   That's essentially what's happening in Europe as well.

So what's Next? 

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The world is about to witness another round of derivatives horror -- but on a much broader scale than last time.   The powers-that-be (i.e. the banksters) and their bought-and-paid-for politicians fully understand what they must now deal with regarding failing derivatives.

How is it that people don't understand the connection between this situation and all the desperate measures we are currently seeing within our own government here in the United States?   For example, ask yourself why the U.S. government would start purchasing massive amounts of hollow-point ammo rounds in addition to large purchases of assault rifles and armored vehicles for several government agencies like the Department of Homeland Security and the Social Security Administration?!   Anyone familiar with hollow-point rounds understands that these rounds are designed to kill people quickly and easily -- and not for training purposes, as the government says.   Why would you waste money buying hollow points, which cost significantly more than target rounds, if you are buying these rounds for training purposes?   Such purchases makes absolutely no sense, unless these government agencies have motives other than the ones to which they admit.


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According to this enlightening article written recently by Michael Snyder called, "The Coming Derivatives Panic that Will Destroy Global Financial Markets":

"On the third Wednesday of every month, the nine members of an elite Wall Street society gather in Midtown Manhattan.   These men share a common goal:   to protect the interests of big banks in the vast derivatives market, one of the most profitable -- and controversial -- fields in finance.

"They also share a common secret:   The details of their meetings, even their identities, have been strictly confidential."

According to Snyder, the following large banks are represented at these meetings:   JPMorgan Chase, Goldman Sachs, Morgan Stanley, Bank of America, and Citigroup.   So, when the casino finally goes "bust," you will know who to blame.   Without a doubt, says Snyder, a derivatives panic is coming.   It will cause the financial markets to crash.   Several of the "too big to fail" banks will likely crash and burn and require bailouts.   As a result of all this, credit markets will once again become paralyzed by fear and will freeze up.   So, we will once again see the U.S. economy go into cardiac arrest -- only this time it will not be as easy to fix.

Everything points to another financial derivatives collapse that these elitist banking scum will use as an excuse, and as a device, to take whatever more they damn well please from us.  

And don't forget what the banksters got away with last time: 

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Blogger and cartoonist Ted Rall points out that the Office of the Comptroller of the Currency and the Federal Reserve released the details of the settlement between the Obama Administration and the big banks over the recent illegal-foreclosure scandal.   

Citibank, JPMorgan Chase, Bank of America, Wells Fargo and other major home mortgage lenders foreclosed upon and evicted millions of homeowners between the start of the housing collapse in 2007 and 2011.   Millions of families became homeless, including 2.3 million children.   The vast majority of these Americans are still struggling;   many fell into poverty from which they will never escape.   

But it turns out that the banks had no legal right to evict these people .   Disgusting, amazing, yet true.   In many cases, the banks didn't have basic paperwork, like the original deed to the house.   They resorted to "robo-signing" boiler room operations to churn out falsified and forged eviction papers.   In others cases, people could have kept their homes if they'd been allowed to refinance, which is their right under federal law, but the banks illegally and underhandedly refused to allow them to do this, giving them the runaround, repeatedly asking for the same paperwork the homeowners had already sent in, until it was too late to avoid foreclosure proceedings.   Soldiers fighting in Afghanistan and Iraq, protected from foreclosure under U.S. law, came home to find their homes having been sold at auction.   In other cases, banks even repossessed homes where the homeowner had never even missed a mortgage payment.   

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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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