The Gamers’ Uprising Against Wall Street Has Deep Populist Roots
Wall
Street may own the country, as Kansas populist leader Mary Elizabeth
Lease once declared, but a new generation of “retail” stock market
traders is fighting back.
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Mostrando entradas con la etiqueta Wall Street. Mostrar todas las entradas
Mostrando entradas con la etiqueta Wall Street. Mostrar todas las entradas
14 febrero, 2021
Is #America on a #Collision Course with #China? “Very Real Possibility” of #NuclearWar
09 agosto, 2019
The #US-#China #TradeWar
“On a Scale of 1-10, It’s an 11” – Wall Street Reacts to China’s Retaliation
By Zero Hedge
One day after China finally snapped, and demonstratively refused to intervene and keep the CNH above 7.00 vs the dollar, escalating the trade war into a currency war, stocks are tumbling and Wall Street analysts – all of whom had been bullish until now – are scrambling to adjust their narrative. Read more...
By Zero Hedge
One day after China finally snapped, and demonstratively refused to intervene and keep the CNH above 7.00 vs the dollar, escalating the trade war into a currency war, stocks are tumbling and Wall Street analysts – all of whom had been bullish until now – are scrambling to adjust their narrative. Read more...
Trade War: China Suspends Purchases of US Agricultural Products
By Telesur
China’s Commerce Ministry announced Tuesday that the Asian country will suspend the purchase of U.S. agricultural goods in response to the recent announcement that the President Donald Trump administration will increase tariffs to Chinese exports. Read more...
Trump War on China by Other Means. Economic Warfare. Things May Get Ugly
By Stephen Lendman
China is rising, heading toward becoming the world’s leading economy — already No. 1 ahead of the US on a purchase price basis, what a basket of goods costs in both countries. Read more...
02 noviembre, 2016
#Collapse of the #Clinton Apparatus? Hacker #Whistleblowers, #Trump, and the #FBI Converge
By Global Research News
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By Prof Michel Chossudovsky, November 01 2016
The trigger mechanism did not originate from FBI Director James Comey’s letter per se. It was the Wall Street Journal, mouthpiece of the US financial establishment, which revealed the fraud and bribery scheme: The wife of the Number Two Man at the FBI Andrew McCabe had received a large sum of money from Hillary Clinton, via the Governor of Virginia.
By Larry Chin, November 01 2016
With one week left in the most chaotic and dangerous presidential contest in American history, the Hillary Rodham Clinton campaign is damaged and sinking. Even the propaganda protection of the Clinton-controlled mainstream corporate media is starting to buckle.
By Richard Gale and Dr. Gary Null, November 01 2016
Joshua Hadfield was a normal, healthy developing child as a toddler. In the midst of the 2010 H1N1 swine flu frenzy and fear mongering about the horrible consequences children face if left unvaccinated, the Hadfield’s had Joshua vaccinated with Glaxo’s Pandermrix influenza vaccine. Within weeks, Joshua could barely wake up, sleeping up to nineteen hours a day. Laughter would trigger seizures.
29 octubre, 2016
Inside the #InvisibleGovernment: #War, #Propaganda, #Clinton and #Trump
By Global Research News
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By John Pilger, October 27 2016
Propaganda is most effective when our consent is engineered by those with a fine education – Oxford, Cambridge, Harvard, Columbia — and with careers on the BBC, the Guardian, the New York Times, theWashington Post. These organisations are known as the liberal media. They present themselves as enlightened, progressive tribunes of the moral zeitgeist. They are anti-racist, pro-feminist and pro-LGBT. And they love war.
By Eric Zuesse, October 27 2016
For the very first time, on October 25th, a high federal official, the “SIGTARP” or Special Inspector General for the TARP program that bailed out the largest financial institutions and their top investors after the 2008 economic crash, is now making a specific proposal to hold the top-level crooks accountable for the incentive-systems they had put into place motivating their employees to pump-and-dump ‘investments’ during the growth-phase of the ‘free market’ Ponzi game that existed since 2000 when the end of the FDR-era Glass-Steagall Act and the start of totally unregulated financial marketeering went wild after 2005 and came crashing down in 2008.
03 junio, 2016
#Obama's Meager Legacy, #WallStreet Behind #Brazil #CoupdEtat
By Global Research News
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By Prof Michel Chossudovsky, June 01 2016
(Image) Wall Street Mastermind Henrique de Campos Meirelles, Interim Minister of Finance Control over monetary policy and macro-economic reform was the ultimate objective of the Coup d’Etat. The key appointments from Wall Street’s standpoint are the Central Bank, which dominates…
By Prof Rodrigue Tremblay, June 01 2016
“The evil that men do lives after them.” — William Shakespeare (1564-1616), ‘Julius Caesar’ The Constitution supposes, what the History of all Governments demonstrates, that the Executive is the branch of power most interested in war and most prone to…
By Edu Montesanti, June 02 2016
A former CIA agent, John Kiriakou spent two years in prison for blowing the whistle about the Intelligence Agency torture program against prisoners, “obsessed with the idea that al-Qaeda and Osama bin Laden would launch another attack against the United…
22 marzo, 2016
The #Chaos of #HybridWars
By Global Research News
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By Caleb T. Maupin, March 22 2016
When the P5+1 Nuclear Talks were completed, and the Joint Comprehensive Plan of Action (JCPOA) was put into practice, jubilant words resounded from many places.
03 marzo, 2016
Failed #Macroeconomics, Massive #Corruption, and the #GlobalizationOfPoverty
By Global Research News
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By Washington’s Blog, March 02 2016
Between 2008 and 2015, central banks pretended that they had fixed the economy.
01 marzo, 2016
Can #BernieSanders Win the #Elections Without the Support of #WallStreet?
By Global Research News
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By Eric Zuesse, February 28 2016
There will be 715 superdelegates at the Democratic Convention selecting the Party’s Presidential nominee, and none of them will have been voted there by any of the state primaries.
04 febrero, 2016
#Asia #Pacific Report
By Global Research News
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By Dr. Dan Steinbock, February 03 2016
President Xi Jinping’s three-nation tour in the Middle East heralds a shift from US regime change to Chinese economic development.
By Samuel Davidson, February 03 2016
24 enero, 2016
1912: The #Faked Shooting Of #TeddyRoosevelt
An original 'conspiracy theory' developed by TomatoBubble.com
The "lone nut" strikes again!
THE SETTING
1912: The popular incumbent President, William Howard Taft, refuses to follow the orders of the Globalist-Zionist crime syndicate that has already gained a foothold in America. Wall Street 'big shots' Bernard Baruch and Jacob Schiff plot his removal. To that end, Baruch (as confirmed by his one time assistant Benjamin Freedman) recruits the "progressive" Republican ex-President Theodore Roosevelt to run as a "3rd Party" candidate on the 'Bull Moose" platform. The aim is not to install Roosevelt, but rather to steal enough
07 enero, 2016
#Failed #MonetaryPolicy and the #Decline of the #RuleOfLaw in the #West
By Global Research News
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By Washington’s Blog, January 06 2016
Central banks – including the Bank of Japan, Bank of Israel, Bank of Switzerland and the Czech Republic–
01 julio, 2015
#ISIS Burns #CIA #Opium Fields in #Afghanistan
Illicit drug trade has floated Wall Street for years
Image Credits: merula, Flickr.
The Islamic State is destroying opium fields in Afghanistan as it routs the Taliban, according to witnesses.
The reports may ultimately result in the US sending troops back into
the country to protect these valuable and highly lucrative assets.
CIA and Afghan Opium
In 2009 it was reported that the CIA controlled the opium trade in Afghanistan through Ahmed Wali Karzai,
the brother of the former president, Hamid Karzai, who began his career
as a fundraiser for the CIA’s mujahideen during the 1980s.
“CIA-supported Mujahideen rebels engaged heavily in drug trafficking
while fighting against the Soviet-supported government and its plans to
reform the very backward Afghan society,” William Blum writes in The Real Drug Lords.
“The Golden Crescent drug trade, launched by the CIA in the early
1980s, continues to be protected by US
27 marzo, 2015
Grandes #Bancos se Apoderan del #Agua
ALARMA MUNDIAL: LOS GRANDES BANCOS SE APODERAN DEL
AGUA DE TODO EL PLANETA
angel2840148089.wordpress,com
Una tendencia preocupante en el sector del agua se está acelerando en todo el mundo.
Los elitistas multimillonarios y los grandes bancos de Wall Street están comprando agua por todo el mundo a un ritmo sin precedentes.
Grandes conglomerados bancarios como Goldman Sachs, JP Morgan Chase, Citigroup, UBS, Deutsche Bank, Credit Suisse, Macquarie Bank, Barclays Bank, Blackstone Group, Allianz y HSBC, entre otros, están consolidando su control sobre el agua de todo el planeta.
Magnates ricos como T. Boone Pickens, el ex presidente George HW Bush y su familia, Li Ka-shing de Hong Kong, Manuel V. Pangilinan y otros multimillonarios filipinos, así como muchos otros, están comprando miles de hectáreas de tierra con acuíferos, lagos, derechos sobre el agua, servicios sanitarios y acciones en empresas de tecnología e ingeniería del agua de todo el mundo.
Al mismo tiempo que los grandes bancos están comprando agua por todo el mundo, los gobiernos se están moviendo rápidamente para limitar la capacidad de los ciudadanos para ser autosuficientes en el suministro de agua.
11 octubre, 2014
#Argentina and #WallStreet’s #VultureFunds
“Economic Terrorism” and the Western Financial System
“Today you pretend making a coalition against the Islamic State
of Iraq and the Levant (ISIL), but in fact you’re their allies,” Those
are the frank words by Cristina Fernandez Kirchner, the Argentinian
President, spoken in a calm and secure voice at the UN General Assembly
last Friday, 3 October 2014.
Similarly, she referred to the western financial system as economic terrorism, as in vultures – the vulture funds that thanks to New York judge Griesa have put Argentina – a solvent country, willing and capable of paying their debt, in default. He ruled that the vulture funds, Griesa’s clients and paymasters, needed to be paid in full, i.e. 100%, equal to US$ 1.5 billion, when close to 93% of all creditors agreed on a restructured reimbursement rate of about 20%.
Without any international right to interfere in the affairs of a sovereign country, Griesa would allow the vultures reaping in a profit margin well in excess of 1,000%. — Paul Singer, king of the ‘vulture capitalists’, knows no merci. He is in bed with Wall Street and Griesa – and with whomever other financial hooligans who share his greedy endeavors. Greed is their prayer. It’s knocked around the world. Exploits poor nations, makes them poorer, and keeps them dependent on the powers of money, being well aware that the poor are too weak to defend themselves.
Except for Argentina. Her able President Cristina Fernandez, speaks not only for her country, when she talks about victims of economic and financial terrorism, but for all those African, Latin American and Asian countries which are oppressed by the killing boots of Wall Street and the IMF. It cannot be said often enough – the IMF is a mere extended arm of the US Treasury and the FED.
Similarly, she referred to the western financial system as economic terrorism, as in vultures – the vulture funds that thanks to New York judge Griesa have put Argentina – a solvent country, willing and capable of paying their debt, in default. He ruled that the vulture funds, Griesa’s clients and paymasters, needed to be paid in full, i.e. 100%, equal to US$ 1.5 billion, when close to 93% of all creditors agreed on a restructured reimbursement rate of about 20%.
Without any international right to interfere in the affairs of a sovereign country, Griesa would allow the vultures reaping in a profit margin well in excess of 1,000%. — Paul Singer, king of the ‘vulture capitalists’, knows no merci. He is in bed with Wall Street and Griesa – and with whomever other financial hooligans who share his greedy endeavors. Greed is their prayer. It’s knocked around the world. Exploits poor nations, makes them poorer, and keeps them dependent on the powers of money, being well aware that the poor are too weak to defend themselves.
Except for Argentina. Her able President Cristina Fernandez, speaks not only for her country, when she talks about victims of economic and financial terrorism, but for all those African, Latin American and Asian countries which are oppressed by the killing boots of Wall Street and the IMF. It cannot be said often enough – the IMF is a mere extended arm of the US Treasury and the FED.
23 julio, 2014
MH17 Crash: Multibillion Dollar Bonanza for Wall Street
The Malaysian Airlines MH17 Crash: Financial Warfare against Russia, Multibillion Dollar Bonanza for Wall Street
While the mainstream media casually accuses Moscow without
evidence of having orchestrated the shoot down of Malaysian Airlines
MH17 in liaison with the Donesk rebels, the backlash of the crisis on
international financial markets and on Russia’s financial system has
passed virtually unnoticed.Inside Information and Foreknowledge
The conduct of speculative operations both prior and in the wake of the July 17 crash, is also a major consideration: In the functioning of World financial markets, terror events, natural disasters as well as major tragedies such as MH17 will invariably have an impact on the short term behavior of financial markets including major stock markets, the foreign exchange market as well the energy and commodities markets.
It should be noted that foreknowledge of a terror event such as the MH17 crash of July 17 over Eastern Ukraine’s warzone, offers an opportunity to the perpetrators as well as those who have advanced knowledge of the terror event to conduct profitable speculative transactions on various financial markets. Cui bono? Wall Street or Moscow’s Financial Establishment?
In other words, those who planned the attack on MH17 (including their political and economic sponsors) had in their possession valuable and confidential information which could be used in large scale speculative undertakings, including options trade on the DJIA, the Moscow Stock exchange (MICEX), foreign exchange markets, not to mention speculative trade (e.g. put options) on airline stocks.
What is described above is routine in the frequent conduct of “risk free” speculative trade by major financial institutions.
Major financial actors who had foreknowledge of the MH17 event of July 17 would have made billions of windfall gains in speculative transactions. With foreknowledge of the crash, institutional speculators would be in a position to accurately “predict” the short term decline of the Dow Jones Industrial Average and other major stock markets, commodity and forex indexes and act accordingly, placing speculative bets through the use of different financial instruments.
Moreover, there is also an overlap between Wall Street and the corporate financial media: Timely news releases by Bloomberg, the Wall Street Journal, the Financial Times, etc. in the wake of a major international event often exert a decisive influence on the actual movement of major financial indicators. At the same time, these powerful financial media –which influence investors’ perceptions regarding future market trends– overlap symbiotically with partner interests on Wall Street which are directly involved in undertaking major transactions. In fact, the corporate financial media are invariably major actors on Wall Street or the City of London. Who are the major shareholders of the WSJ, the Financial Times or the Economist? Is there a conflict of interest?
08 mayo, 2014
“War is Good for Business”
“War is Good for Business”:
Big Oil, Wall Street and the
Pentagon’s “New Cold War” Against Russia
What drives this seemingly irrational course of action?
The same thing that drove the George W. Bush regime to invade Iraq in 2003. The same thing that’s driving the violent anti-China rhetoric from the Pentagon and the White House: financial need and cold economic calculation.
Not the financial need of the hungry and homeless, of the millions who need jobs at living wages, of those who can’t pay their rent or mortgages or who must choose between heating and eating.
It’s the need of Wall Street bankers and corporate CEOs to pump up their profits, stock prices and rates of return on their invested capital amid a global economic slowdown caused by capitalist overproduction.
The U.S. Energy Information Administration projects that the United States will replace Russia this year as the world’s top hydrocarbon energy producer. It says the U.S. will replace Saudi Arabia as the world’s No. 1 oil producer by 2015.
23 marzo, 2014
Ukraine Crisis
The Ukraine Crisis and Vladimir Putin:
A New Financial System Free from Wall Street and the City of London?
Approximate Transcript of Interview
The Ukrainian crisis? It is basically the
opposite of what the media and politicians keep repeating both in the US
and Europe. They say that the so-called International community have
isolated Russia and Vladimir Putin.
In fact it is the real sponsors of the coup
d’état and the violence in Ukraine who are isolated not only morally but
also strategically.
And it is Putin, the first leader who resisted
and defeated the strategy of world domination, who is enjoying the
enthusiastic support of his people and the growing admiration of the
world. The well financed media and politicians do not want to hear this,
but this is the reality. Without exaggeration, one can compare this
resistance to that against Napoleon and Hitler…
Only few know precisely how dangerous the situation has been. How close to a real war.
The incompetent representatives of the
‘international community’ lost any sense of reality and deployed the
weapons of social destabilization, armed insurrection, assassination by
snipers, a fascist March on Kiev reminiscent of Mussolini’s March on
Rome, targeting of the Russian population.
They intended to give Russia the Libya treatment, and they did not make a secret of it.
Continue reading:
Ukraine, “Colored Revolutions”, Swastikas and the Threat of World War III
As
the US, EU and Britain huff and puff in barrel loads of clichés: “red
lines” are “crossed”, “sovereignty and territorial integrity” has been
“violated”, they stand “shoulder to shoulder” with their Neo-Nazi
counterparts in the interim puppet government.
They are “resolute” against “Russian aggression”, and will not “stand idly by”, sanity seems in short supply.
US
Secretary of State, John Kerry representing a country which makes
Genghis Khan look like a wimp when it comes to illegal invasions, still
retains the prize for jaw dropper of the decade: “You just don’t, in the
21st century, behave in 19th century fashion by invading another
country on completely trumped up pretext”, he pontificated on CBS’ “Face
the Nation.”
On
the thirteenth anniversary of the illegal invasion of Iraq and the
total destruction of it’s “sovereignty and territorial integrity”, by
America and Britain, Prime Minister David Cameron has scuttled off to
Brussels for a meeting of European Union Ministers to agree on a “robust
response” to Russia – which has fired not a shot, invaded no one and
threatened nothing except to respond that if sanctions were imposed on
Russia they might consider a trading response. Fair enough, surely?
The government of the Autonomous Republic of Crimea called a
referendum, distinctly disturbed by the threat by Kiev’s US proxy
government that the Russian language was to have no status, and Jews and
blacks would not be tolerated.
Stop Fascism: Participate in the Referendum
Continue reading:
21 febrero, 2014
La Grotesca Feria de Wall Street
Desde la sombra (E62).
La grotesca feria de Wall Street
Según la leyenda popular, Wall Street es el corazón y el alma de la economía estadounidense, un hogar de hombres “sabios” que demuestran cómo amasar inmensas fortunas . Sin embargo, Daniel Estulin afirma que Wall Street es una grotesca atracción de feria que debería estar prohibida a los menores de 18 años. Las actividades financieras que se realizan aquí no tienen nada que ver con una economía adecuada.
19 octubre, 2013
A Multibillion Bonanza for Wall Street
http://www.globalresearch.ca/the-speculative-endgame-the-government-shutdown-and-debt-default-a-multibillion-bonanza-for-wall-street/5354420
The Speculative Endgame: The Government “Shutdown” and “Debt Default”,
A Multibillion Bonanza for Wall Street
By Prof Michel Chossudovsky
The “shutdown” of the US government and the financial climax associated with a deadline date, leading to a possible “debt default” of the federal government is a money making undertaking for Wall Street.
A wave of speculative activity is sweeping major markets.
The uncertainty regarding the shutdown and “debt default” constitutes a golden opportunity for “institutional speculators”. Those who have reliable “inside information” regarding the complex outcome of the legislative process are slated to make billions of dollars in windfall gains.
Speculative Bonanza
Several overlapping political and economic agendas are unfolding. In a previous article, we examined the debt default saga in relation to the eventual privatization of important components of the federal State system.
While Wall Street exerts a decisive influence on policy and legislation pertaining to the government shutdown, these same major financial institutions also control the movement of currency markets, commodity and stock markets through large scale operations in derivative trade.
Most of the key actors in the US Congress and the Senate involved in the shutdown debate are controlled by powerful corporate lobby groups acting directly or indirectly on behalf of Wall Street. Major interests on Wall Street are not only in a position to influence the results of the Congressional process, they also have “inside information” or prior knowledge of the chronology and outcome of the government shutdown impasse.
They are slated to make billions of dollars in windfall profits in speculative activities which are “secure” assuming that they are in a position to exert their influence on relevant policy outcomes.
It should be noted, however, that there are important divisions both within the US Congress as well as within the financial establishment. The latter are marked by the confrontation and rivalry of major banking conglomerates.
These divisions will have an impact on speculative movements and counter movements in the stock, money and commodity markets. What we are dealing with is “financial warfare”. The latter is by no means limited to Wall Street, Chinese, Russian and Japanese financial institutions (among others) will also be involved in the speculative endgame.
Speculative movements based on inside information, therefore, could potentially go in different directions. What market outcomes are being sought by rival banking institutions? Having inside information on the actions of major banking competitors is an important element in the waging of major speculative operations.
Derivative Trade
The major instrument of “secure” speculative activity for these financial actors is derivative trade, with carefully formulated bets in the stock markets, major commodities –including gold and oil– as well as foreign exchange markets.
These major actors may know “where the market is going” because they are in a position to influence policies and legislation in the US Congress as well as manipulate market outcomes.
Moreover, Wall Street speculators also influence the broader public’s perception in the media, not to mention the actions of financial brokers of competing or lesser financial institutions which do not have foreknowledge or access to inside information.
These same financial actors are involved in the spread of “financial disinformation”, which often takes the form of media reports which contribute to either misleading the public or building a “consensus” among economists and financial analysts which will push markets in a particular direction.
Pointing to an inevitable decline of the US dollar, the media serves the interests of the institutional speculators in camouflaging what might happen in an environment characterized by financial manipulation and the interplay of speculative activity on a large scale.
Speculative trade routinely involves acts of deception. In recent weeks, the media has been flooded with “predictions” of various catastrophic economic events focusing on the collapse of the dollar, the development of a new reserve currency by the BRICS countries, etc.
At a recent conference hosted by the powerful Institute of International Finance (IIF), a Washington based think tank organization which represents the world’s most powerful banks and financial institutions:
“Three of the world’s most powerful bankers warned of terrible consequences if the United States defaults on its debt, with Deutsche Bank chief executive Anshu Jain claiming default would be “utterly catastrophic.”
This would be a very rapidly spreading, fatal disease, … I have no recommendations for this audience…about putting band aids on a gaping wound,” he said.
“JPMorgan Chase chief executive Jamie Dimon and Baudouin Prot, chairman of BNP Paribas, said a default would have dramatic consequences on the value of U.S. debt and the dollar, and likely would plunge the world into another recession.” (…)
Dimon and other top executives from major U.S. financial firms met with President Barack Obama and with lawmakers last week to urge them to deal with both issues.
On Saturday, Dimon said banks are already spending “huge amounts” of money preparing for the possibility of a default, which he said would threaten the global recovery after the 2007-2009 financial crisis.
Dimon also defended JPMorgan against critics who say the bank has become too big to manage. It has come under scrutiny from numerous regulators and on Friday reported its first quarterly loss since Dimon took over, due to more than $7 billion in legal expenses. (Emily Stephenson and Douwe Miedema, World top bankers warn of dire consequences if U.S. defaults | Reuters, October 12, 2013
What these “authoritative” economic assessments are intended to create is an aura of panic and economic uncertainty, pointing to the possibility of a collapse of the US dollar.
What is portrayed by the Institute of International Finance panelists (who are the leaders of the world’s largest banking conglomerates) is tantamount to an Economics 101 analysis of market adjustment, which casually excludes the known fact that markets are manipulated with the use of sophisticated derivative trading instruments. In a bitter irony, the IIF panelists are themselves involved in routinely twisting market values through derivative trade. Capitalism in the 21st century is no longer based largely on profits resulting from a real economy productive process, windfall financial gains are acquired through large scale speculative operations, without the occurrence of real economy activity. at the touch of a mouse button.
The manipulation of markets is carried out on the orders of major bank executives including the CEOs of JPMorgan Chase, Deutsche Bank and BNP Paribas.
The “too big to fail banks” are portrayed, in the words of JPMorgan Chase’s CEO Jamie Dimon’s, as the “victims” of the debt default crisis, when in fact they are the architects of economic chaos as well as the unspoken recipients of billions of dollars of stolen taxpayers’ money.
These corrupt mega banks are responsible for creating the “gaping wound” referred to by Deutsche Bank’s Anshu Jain in relaiton to the US public debt crisis.
Collapse of the Dollar?
Upward and downward movements of the US dollar in recent years have little do with normal market forces as claimed by the tenets of neoclassical economics.
Both JP Morgan Chase’s CEO Jamie Dimon and Deutsche Bank’s CEO Anshu Jain’s assertions provide a distorted understanding of the functioning of the US dollar market. The speculators want to convince us that the dollar will collapse as part of a normal market mechanism, without acknowledging that the “too big to fail” banks have the ability to trigger a decline in the US dollar which in a sense obviates the functioning of the normal market.
Wall Street has indeed the ability to “short” the greenback with a view to depressing its value. It has also has the ability through derivative trade of pushing the US dollar up. These up and down movements of the greenback are, so to speak, the “cannon feed” of financial warfare. Push the US dollar up and speculate on the upturn, push it down and speculate on the downturn.
It is impossible to assess the future movement of the US dollar by solely focusing on the interplay of “normal market” forces in response to the US public debt crisis.
While an assessment based on “normal market” forces indelibly points to structural weaknesses in the US dollar as a reserve currency, it does not follow that a weakened US dollar will necessarily decline in a forex market which is routinely subject to speculative manipulation.
Moreover, it is worth noting that the national currencies of several heavily indebted developing countries have increased in value in relation to the US dollar, largely as a result of the manipulation of the foreign exchange markets. Why would the national currencies of countries literally crippled by foreign debt go up against the US dollar?
The Institutional Speculator
JPMorgan Chase, Goldman Sachs, Bank America, Citi-Group, Deutsche Bank et al: the strategy of the institutional speculators is to sit on their “inside information” and create uncertainty through heavily biased news reports, which are in turn used by individual stock brokers to advise their individual clients on “secure investments”. And that is how people across America have lost their savings.
It should be emphasized that these major financial actors not only control the media, they also control the debt rating agencies such as Moody’s and Standard and Poor.
According to the mainstay of neoclassical economics, speculative trade reflects the “normal” movement of markets. An absurd proposition.
Since the de facto repeal of the Glass-Steagall Act and the adoption of the Financial Services Modernization Act in 1999, market manipulation tends to completely overshadow the “laws of the market”, leading to a highly unstable multi-trillion dollar derivative debt, which inevitably has a bearing on the current impasse on Capitol Hill. This understanding is now acknowledged by sectors of mainstream financial analysis.
There is no such thing as “normal market movements”. The outcome of the government shutdown on financial markets cannot be narrowly predicted by applying conventional macro-economic analysis, which excludes outright the role of market manipulation and derivative trade.
The outcome of the government shutdown on major markets does not hinge upon “normal market forces” and their impacts on prices, interest rates and exchange rates. What has to be addressed is the complex interplay of “normal market forces” with a gamut of sophisticated instruments of market manipulation. The latter consist of an interplay of large scale speculative operations undertaken by the most powerful and corrupt financial institutions, with the intent to distorting “normal” market forces.
It is worth mentioning that immediately following the adoption of the Financial Services Modernization Act in 1999, the US Congress adopted the Commodity Futures Modernization Act 2000 (CFMA) which essentially “exempted commodity futures trading from regulatory oversight.”
Four major Wall Street financial institutions account for more than 90 percent of the so-called derivative exposure: J.P. Morgan Chase, Citi-Group, Bank America, and Goldman Sachs. These major banks exert a pervasive influence on the conduct of monetary policy, including the debate within the US Congress on the debt ceiling. They are also among the World’s largest speculators.
What is the speculative endgame behind the shutdown and debt default saga?
An aura of uncertainty prevails. People across America are impoverished as a result of the curtailment of “entitlements”, mass protest and civil unrest could erupt. Homeland Security (DHS) is the process of militarizing domestic law enforcement. In a bitter irony, each and all of these economic and social events including political statements and decisions in the US Congress concerning the debt ceiling, the evaluations of the rating agencies, etc. create opportunities for the speculator.
Major speculative operations –feeding on inside information and deception– are likely take place routinely over the next few months as the fiscal and debt default crisis unfolds.
What is diabolical in this process is that major banking conglomerates will not hesitate to destabilize stock, commodity and foreign exchange markets if it serves their interests, namely as a means to appropriate speculative gains resulting from a situation of turmoil and economic crisis, with no concern for the social plight of millions of Americans.
One solution –which is unlikely to be adopted unless there is a major power shift in American politics– would be to cancel the derivative debt altogether and freeze all derivative transactions on major markets. This would certainly help to tame the speculative onslaught.
The manipulation through derivative trade of the markets for basic food staples is particularly pernicious because it potentially creates hunger. It has a direct bearing on the livelihood of millions of people.
As we recall, “the price of food and other commodities began rising precipitately [in 2006], … Millions were cast below the poverty line and food riots erupted across the developing world, from Haiti to Mozambique.”
According to Indian economist Dr. Jayati Ghosh:
“It is now quite widely acknowledged that financial speculation was the major factor behind the sharp price rise of many primary commodities , including agricultural items over the past year [2011]… Even recent research from the World Bank (Bafis and Haniotis 2010) recognizes the role played by the “financialisation of commodities” in the price surges and declines, and notes that price variability has overwhelmed price trends for important commodities.” (Quoted in Speculation in Agricultural Commodities: Driving up the Price of Food Worldwide and plunging Millions into Hunger By Edward Miller, October 05, 2011)
The artificial hikes in the price of crude oil, which are also the result of market manipulation, have a pervasive impact on costs of production and transportation Worldwide, which in turn contribute to spearheading thousands of small and medium sized enterprises into bankruptcy.
Big Oil including BP as well Goldman Sachs exert a pervasive impact on the oil and energy markets.
The global economic crisis is a carefully engineered.
The end result of financial warfare is the appropriation of money wealth through speculative trade including the confiscation of savings, the outright appropriation of real economy assets as well as the destabilization of the institutions of the Federal State through the adoption of sweeping austerity measures.
The speculative onslaught led by Wall Street is not only impoverishing the American people, the entire World population is affected.
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