Do you think things are really bad with foreclosure?
With the fact that banks engage in wholesale abuse in courtrooms and do it with absolute impunity?
Are you sickened by the absolute, undeniable fact that The People have absolutely no defense when it comes to the abuses of Wall Street and banks….
Well, you haven’t seen the least of it…
This country is going to collapse…and it’s not because people who are out of work or under employed aren’t making mortgage payments. It’s probably not going to collapse because people wake up and realize the government spends more money spying on us and killing people than they do on trying to cure illness or disease.
This country is going to collapse when people finally wake up and see that every dollar they work for is used in service to the evil empires that exist as shadows right behind the front organization, the formal (former) US government. The corruption is more than mortals can comprehend…..
But banks aren’t just buying stuff, they’re buying whole industrial processes. They’re buying oil that’s still in the ground, the tankers that move it across the sea, the refineries that turn it into fuel, and the pipelines that bring it to your home. Then, just for kicks, they’re also betting on the timing and efficiency of these same industrial processes in the financial markets – buying and selling oil stocks on the stock exchange, oil futures on the futures market, swaps on the swaps market, etc.
Allowing one company to control the supply of crucial physical commodities, and also trade in the financial products that might be related to those markets, is an open invitation to commit mass manipulation. It’s something akin to letting casino owners who take book on NFL games during the week also coach all the teams on Sundays.
The situation has opened a Pandora’s box of horrifying new corruption possibilities, but it’s been hard for the public to notice, since regulators have struggled to put even the slightest dent in Wall Street’s older, more familiar scams. In just the past few years we’ve seen an explosion of scandals – from the multitrillion-dollar Libor saga (major international banks gaming world interest rates), to the more recent foreign-currency-exchange fiasco (many of the same banks suspected of rigging prices in the $5.3-trillion-a-day currency markets), to lesser scandals involving manipulation of interest-rate swaps, and gold and silver prices.