Congress Wants To End Derivative Market Regulations So New Bubble Can Happen

The US is in trouble due to wild military spending on crazy global adventures while non-socialized medical care causing our medical system to cost more per capita than any of the other first world nations.  All of this is on top of the world’s greatest trade deficits which have caused trillions in lost US sovereign wealth.  We now have budget cutting that is unfair and destructive while at the same time, the rich can weasel out of many taxes while at the same time reaping bigger and bigger rewards for being the top dogs.  So the rich get richer and the poor are tossed out.  

 

The GOP right now is screaming about budget deficits and blaming Obama for not rebuilding the country after Bush and the GOP trashed it.  Here are some statistics from the Fed:  http://www.federalreserve.gov/releases/z1/Current/z1r-5.pdf

net worth of corporations after bubble

 

Yes, corporate net worth was  hammered by over $2.3 trillion during the Bush regime.  Instead of thanking the Democrats for bailing them all out, the elites tried to get an offshore hedge fund banker, Romney, into the White House to prevent any tax reforms or any stoppage of the flood of federal spending that enriches the already very rich.  They are torn in two.  They need the Federal deficit spending so taxes won’t go up on them and they need Federal deficit spending to line their pockets but at the same time, they have to get their hands on total power.

 

So they are basically cutting their own noses.  On the other hand, thanks to AIPAC, they were given permission from Netanyahu to void the Pentagon and foreign aid cuts that were supposed to be automatic.  On the other hand, disgruntled Americans will now see this as an attack on us all, using us as Milch cows while starving the cows, that is, the US public.

 

Even though the electorate made it pretty clear we need reforms, both parties are joined at the hip when it comes to AIPAC foreign policy demands and the international bankers who bankroll our elections. So we have news like this item:  Jim Himes, Former Goldman Sachs Executive, Introduces Bill To Deregulate Derivatives

 

Rep. Jim Himes (D-Conn.), a former Wall Street executive, is joining Rep. Randy Hultgren (R-Ill.) to introduce legislation that would deregulate derivatives, undercutting one of the most meaningful elements of the 2010 Dodd-Frank Wall Street Reform Act…

 

Himes, who was recently named the national finance chairman of the Democratic Congressional Campaign Committee, is a former executive at Goldman Sachs, where he was a vice president.

 

The Zionists and bankers own Congress and bankroll both parties.  Anyone who irritates them suddenly  has an opponent in primaries that are heavily funded often by out of district rich people.  They control Congress via promises of goodies upon retiring and jobs for the relatives of Congress members.  The continuing disconnect between voters and those they put in office grows worse each decade.

 

Note that Himes is working on behalf of Goldman Sachs and what the international banking gang needs is to restart the Derivatives Beast and make it double in size every eight years like they did in the past.  This is extremely lucrative because the game requires virtually no capital and the biggest central banks on earth can be called upon whenever it screws up things. These bail outs taught the very rich, they don’t need to worry if their wild speculations and no capital costs might blow up.  They can blow it up over and over again and get richer and richer.  But only if derivatives are not regulated.

 

This is why I called for the derivative game not to be regulated but OUTLAWED as a naked Ponzi scheme with the capital all coming from taxpayers and sovereign wealth, not from the toads playing gambling games on futures.

 

And the biggest players who screwed up were bailed out after Lehman collapsed:   Eric Holder Admits Some Banks Are Just Too Big To Prosecute

 

“I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if you do prosecute, if you do bring a criminal charge, it will have a negative impact on the national economy, perhaps even the world economy,” Holder said, according to The Hill. “And I think that is a function of the fact that some of these institutions have become too large.”

 

So, if you are really big and own Congress and write the laws, even if you break these laws, you get a free pass.  I see a lot of rage about this selective application of laws.  All sorts of little people were put in jail and none of the big ones.  Madoff doesn’t count because he basically ripped off fellow Jews so they went after him.  But the huge frauds of the big derivative players were shoved aside and not examined and they want desperately to continue this con game because it is extremely lucrative.

 

The political fallout from Rand Paul defying the Senate old guard continues:  McCain blasts Rand Paul’s filibuster as a ‘political stunt’ | The Raw Story

 

“To allege that the United States of America, our government would drop a drone hellfire missle on Jane Fonda, that, that is… that brings the conversation from a serious discussion about U.S. policy to the realm of the ridiculous,” McCain said.

 

McCain also quoted from a Wall Street Journal editorial that mocked Paul. “If Mr. Paul wants to be taken seriously, he needs to do more than pull political stunts that fire up impressionable libertarian kids in college dorms,” the editorial jibes.

 

Still, McCain emphasized that “if someone is an enemy combatant, that enemy combatant has nowhere to hide: not in a cafe, not anywhere.”

 

He goes on to say that we are not in danger because…the only people being zapped by assassin drones will be ‘enemy combatants’ which history of our use of these drones means ‘Anyone who is at a funeral, home or car of someone we want to murder, tough luck.’  Why does any President (so far, Obama and Bush Jr. both had the power to kill Americans with drones) need this power if they aren’t going to use it?  And since the unlucky people picked to be assassinated have no way of knowing this due to secrecy, how do we know it isn’t used for frivolous reasons?

 

And are our police forces so helpless they can’t find and surround someone who is dangerous?  The ONLY reason to have this power to assassinate is for the exact same reasons we do this overseas: to kill pesky people who are not committing any crimes!  Yes, we kill them for cheering on terrorism, for example.  The NRA talks about terrorizing our government and nothing happens but what if a President is tired of this talk and assassinates the president of the NRA?  My dad was put on Nixon’s secret hate list due partially to my activities (he openly hated me and other anti-Vietnam war protestors) and what if a President hates various reporters (yes, there was a list of reporters to be killed in the past!) and executes them secretly and with sudden stealth?

 

Just knowing a President can do this will destroy free speech!  No one would question a president if he can zap them days later while they are driving a car.  McCain supports this fascist system because he knows that if anyone he is buddies with gets the power, they can silence all critics and stop anyone from protesting.  As it is, protestors on the left get brutalized by cops whenever they do raise any ruckus.  The World Trade meetings that we disrupted in the past are no longer available for protest because they are surrounded by a virtual military camp whenever they meet and anyone crossing the line is brutalized.

 

The Washington Post continues to demand full service for Israel:   Charles Krauthammer: Why we give foreign aid is an editorial by a rank right wing fascist Zionist, Krauthammer, a warmonger when it comes to Muslims.  He talks only about Egypt receiving ‘aid’ which was mainly the US propping up dictators and owning the military of Egypt.  He doesn’t dare mention Israel’s billions.  The Zionists continue their joint plan to always talk about someone else when they are really talking about Israel’s desires and they never mention Israeli crimes but harp on and on about anyone else.

 

The deterioration in our banking systems, our trade deals and our standing internationally is due to Congress being corrupted and both parties conspiring to make laws so they enrich the rich and destroy the rest of us.  They are most anxious to destroy the Baby Boomers.  Yet, we still vote in elections and if we do force Congress to pass laws stopping all these things, the Supreme Court justices put in power by the GOP overturn these laws.

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11 Comments

Filed under .money matters

11 responses to “Congress Wants To End Derivative Market Regulations So New Bubble Can Happen

  1. Peter C.

    Talk about free speech,I got banned from commenting on Resilience(energy bulletin) for pointing out Global temperatures stopped rising 15 years ago but CO2 doubled over that time.Doesn’t fit with the carbon tax scam.
    I really appreciate websites like this that allow different opinions to be expressed.Even the British weather office has agreed world temperatures have levelled off over that time but it doesn’t get in the MSM.

  2. Joseppi

    We really shouldn’t worry – next election, after much emotion and money spent, “we the people” will vote in the representatives we deserve…….again

  3. larry, dfh

    Gary Webb was a reporter, until he was fired, sent into destitution, and finally murdered (by suicide). Madoff actually went to the Feds and told them he had been a bad boy. Only then did they do anything. His racket was protected from on high. There were regulators who were screaming about Madoff for years. They were ignored and reassigned.

  4. Jim R

    @Peter C,
    Any evidence of your statement? Or is it just something you like to believe?

  5. Jim, 1998 was particularly warm. NASA says that 2005 and 2010 were even warmer, by a few hundredths of a degree, but some agencies say those years were slightly cooler, by a few hundredths of a degree. So depending on which agency you go with, it’s just possible that 1998 was the warmest year on record. Then, if you ignore that two years since then have been virtually as warm, you can claim that the planet has been cooling off since 1998.
    http://en.wikipedia.org/wiki/Global_warming#Observed_temperature_changes

    ΩΩΩ

    ELAINE: My father who was one of the world’s greater experts on the sun, our local star (as was my grandfather before that) predicted ACCURATELY that the 2013 solar maximum would be lower than normal and worse, the sun is going to enter a cooling cycle starting about now.

    http://www.dailymail.co.uk/sciencetech/article-2290289/NASA-warns-unexpected-happening-Sun-year-supposed-peak-sunspot-cycle.html

  6. Jim R

    Yes and it’s cooler than the supernova which blew up to make the elements of rocks and seawater.
    So, if you ignore the effect of carbon burning on the global climate, then you are in a state of bliss?

  7. DeVaul

    A scientist has completed a global temperature study going back 11,000 years (to the last ice age) and here is his conclusion:

    “We have, through human emissions of carbon dioxide and other heat-trapping gases, indefinitely delayed the onset of the next ice age and are now heading into an unknown future where humans control the thermostat of the planet,” said Katharine Hayhoe, an atmospheric scientist at Texas Tech University, responding in an email. [from Yahoo News]

    I don’t know how this scientist views life on earth, but if an ice age started tommorrow, I think 100 percent of humans would be in “an unknown future” immediately.

    ΩΩΩ

    ELAINE: as I keep pointing out, our Interglacial era is about to end according to historical records. Going back just 11,000 years is not correct, we have to go back over 2 million years to see what is going on. The ice cores we collect don’t go back even to the middle of the most recent full blown Ice Age.

  8. Being There

    Great post, Elaine

    This is what I refer to as inverted Communism, especially when we talk about the global economy. It’s a system that has totally lost checks and balances.

    We have armies of lobbyists, many of who have been elected to office in the past, who go in and out the revolving door. They are there to make sure nothing interferes with the bubblicious, that is now the global economy.

    As Christine Lagarde said on GPS in 2009 when Zakaria asked her “Aren’t you creating a new bubble”, her answer: “We have nothing else to work with.”

    Yes the system is so replete with perverse incentives there is no real economy anymore. Just a giant sucking sound. Sucking the real wealth of citizens to the top and out of sovereign states into private offshore bank accounts. Globally it amounts to $23 Trillion.

    As great as the stock market looks, you have to be plenty worried. It’s the only game in town, even precious metals are so manipulated that you can really only see them as future currency and not so much an investment for short term gains.

    One thin that Paul Craig Roberts has finally recognized and written about is that Libertarianism leads to giant monopoly and out of control growth and a destruction of the middle class. Why? Because there’s no regulations, no rule of law!

    Speaking of free speech. I notice that all our talking heads play dumb and wonder why the system is so broken. I would to try to comment on the blogs at CNN and every time I mentioned Milton Friedman and the Chicago sch of business, it didn’t get posted. One dare not speak of the devil, you know….

  9. lucky13

    EMS, will Cap n Trade be enough for a new Bubble to further enrich the 1%?

  10. lucky13

    Peter, yr Comment #1:
    it doesn’t get in the MSM……

    Follow the money. 10 years ago [and perhaps now] if you want a Grant,
    include ‘Global Warming’ in the proposal!

  11. We should all live in “Earth Ships”?

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