Goldman Sachs Loses Money So Gold Prices Fall | Culture of Life News
OPEC was from day one, a cartel. Like all cartels, they made lots of money at first. But over time, everyone under the sun began competing because prices were artificially high and this lead to the inevitable gluts and sudden price collapses. The only tool to fix this for the Saudis and Texans was to generate wars against energy producers and boycotts like the one against Iran. This has now failed utterly. Also, rich bankers cooked up a stupid commodity futures scam called ‘derivatives’ which originally was only for wheat and corn, betting on the weather. Now, it is everywhere and utterly toxic and extremely prone to create price bubbles and collapses. This stupid market always goes rapidly to infinity and infinity is the bane of humans because it always ends with nothing instead of everything.
Ukraine president calls protests a ‘coup,’ refuses to resign but he is doomed because the US has been determined for quite a while to cut Ukraine off from Russia. The Cold War is on, big time, with the US encouraging Japanese nationalists who openly deny WWII crimes, twisting arms in the EU to get them to bankroll rioters in Ukraine and at the same time, paying the Egyptian military to suppress Muslim political parties. US support of military fascist leaders who are elected in sham elections has a long, ugly history with both Republican and Democratic Presidents playing this odious game and with Israel justifying fascism day and night.
Derivatives monster ate capital not debt
Here is a typical example of how the huge Derivatives Beast is ignored by economists pretending to understand what is going on in the world. I have explained for years how the derivatives game suddenly appeared during the years banks were deregulated and offshored. This game meant NO CAPITAL was needed for lending and bankers lent money they didn’t have to all and sundry with wild abandon. Then, when debt deals went bankrupt, there was no capital base to cover losses and the entire system suddenly collapsed in 2008.