I'm on economics again today. Follow the money is the old adage to follow.
Today a friend sent me a detailed copy of the sworn testimony of a man named Chris Whelan that was given in the House of Representatives in Washington. And my, oh my, did he ever have a lot to say. And he is very knowledgeable in the area of investing and finance. Very knowledgeable.
This man is not crude and crass like I am but he calls a thief a thief. He got started on derivatives and ran through it like dose of salts. He talked about the OTC market in these financial products. That means Over The Counter. It is an unregulated market. Nobody keeps an eye on it at all. And the enormous banks and stock brokerages lobby like crazy to keep it unregulated. It is the market that is keeping the doors open for most of them. These multi billion dollar financial institutions make their Super Profits in this market. It is about the only area where they can still get huge profits.
Then he got on the CDS and some other financial instruments and lowered the boom on those guys like you would not believe. He just came out and said, before Congress, that there was nothing to these financial papers. They are essentially hot air. But you can make a lot of money off of them if you can play the game. You can read this article and get the data yourself at
http://www.tickerforum.org/cgi-ticker/akcs-www?post=99680. It is a long article but it is full of information. The citizens of this country have been lied to so much by the PTB that maybe it is time to catch everybody up on the scams. And don't think that this will all go away and everything will be fine again because the derivative market will collapse, probably this year, and it will all come out in the wash. This will be the second leg of of the downfall of the American government. And it will all come out to the public. They will get cannibalistic just like the animals that they are and individuals will come forward with the inside story. And Washington, DC will be some smelly stuff in their drawers.
This is all I have to say, so I admonish you to read this man's testimony he gave before Congress. It is worth your time and effort. It's just an exercise in stark reality. Stay alive.
Michael
mboone@rtccom.net
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1 comment:
Great post.
If the American people knew the truth of the CDS, derivatives, and mortgage-backed securities racket, they would have a fit and heads would roll - possibly literally.
Fortunately for the elites, this stuff is so complicated that most people's eyes glaze over when they start to read about it.
Soon, however, it will become so obvious where all the ill-gotten gains went, that they won't be able to hide it. When enough tent cities full of starving children start to encircle big cities, even the MSM will have to devote a few photos and words to the story.
And them someone will connect the dots...
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