Is the Financial System Corrupt?
By Greg Hunter’s
Recent headlines coming out of the financial world have been jaw dropping. Here are a few: US faces same problems as Greece, says Bank of England (The Telegraph), World markets rattled by Goldman fraud (The Economic Times), Goldman Sachs faces criminal investigation (Guardian UK), Government Probe into Wall Street Sales Widening (Fox Business), SEC expects early findings on dramatic, 1,000 point market drop next week (The Hill), Feds probing JPMorgan trades in silver pit (NY Post), Federal Reserve lends bucket to EU bailout (Politico),and NY AG investigates if banks misled ratings agencies (WABC).
My favorite headline is Major Wall Street firms face criminal probe (Reuters), because the article goes on to name all of the big players. The Reuters story says, “. . . preliminary criminal probe is being conducted with U.S. securities regulators and involves JPMorgan Chase, Citigroup, Deutsche Bank, UBS, Morgan Stanley and Goldman Sachs Group Inc. The person said the investigation included mortgage-bond deals, that it was in an early stage and that it might not necessarily lead to criminal charges against all of the firms. The person spoke anonymously because the probe is ongoing.”
None of the financial institutions named above have been convicted of any wrongdoing. They all basically say they did nothing wrong. Can all this negative press just be a big overblown mistake? Mind you, the above headlines are recent, as in the past week or so. I say when you put all the headlines together, it sure looks to me like the financial system is corrupt. The financial markets are a rigged game. The game is played to enrich the big fat cat trader and rip-off the little guy of his hard earned savings.
Rigged games are doomed to fail. Eventually, everybody realizes the only money walking out the door is in the pockets of the house. In this case, the house is the big Wall Street banks. In my mind, the negative headlines all point to one thing–the rigged game is coming to an end.
Printing money out of thin air to bailout every bank and country in the Western World is increasing risk according to NYU Professor of Risk Engineering, Nassim Taleb. Taleb said this week, “The problem is debt, and you don’t cure debt with debt.” Taleb, who wrote the runaway best seller, “The Black Swan,” says he’s worried about a “failed (Treasury) auction.” He thinks the government will eventually be forced to buy its own Treasuries because no one else will buy them. He is also worried about “hyperinflation” caused by all the government money printing for bailouts. Please watch this very informative video below. It doesn’t get interesting until about a third of the way in:
Please Support Our Direct Sponsors Below
Who Support The Truth Tellers
About the Author
Greg Hunter
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.
Does a bear crap in the woods? Is the sky blue? Are we all royally screwed?
Yes, yes and yes.
Stephen
Well Stephen I would have to say… No, No, and No! You questions are to vague. Does a Bear Crap in the Woods?…No, Polar bears don’t! Is the sky Blue?…No today it is overcast and raining. Are we totally Screwed?…No! You maybe screwed but I saw this coming and have planned and prepared for the inevitable collapse of the financial system. The red flag went up when they repealed the glass steagall act in 1999, it was only a mater of time.
YES if you take into consideration that our government is allowing and particpating in the cimminal behaviour
Greg, your statement “Eventually, everybody realizes the only money walking out the door is in the pockets of the house.” seems to fly in the face of the existence of gambling establishments in this country. They continue to build out, yet “hard working little guys” and god knows who else continue to feed their growth. Why would you think this game would fail? What would make you think that the folks who continue to fund Las Vegas and it’s progeny would suddenly stop feeding the financial three card monte? I don’t understand your logic. The game will continue until the public figures out that it doesn’t get something for nothing and I don’t know how that comes about absent a currency collapse.
Steve,
Your last sentence says it all. You make some good points. Thank you.
Greg
“.. involves JPMorgan Chase, Citigroup, Deutsche Bank, UBS, Morgan Stanley and Goldman Sachs Group Inc.. ”
It’s amazing that every time you read in the paper about some financial catastrophe, you always find those names above in the headlines. And they have no guilt abour returning to the scene of the crime to critique their work. We just need to liquidate them and be done with it, and spend the money on the REAL economy, and not the Milton Bradley economy.
Greg-
You know and your readers know that Wall Street owns Congress. The corruption is viral and no one will go to jail. The world financial crisis is by design and created by the illuminati. They desire to tear down the world economies and have us begging for crumbs while they accumulate the physical gold and silver. Does any person with half a brain think the economic collapse of all these countries, states, banks, subprime, etc is coincidental? Not hardly! Brace yourself for a white knuckle ride my friends.
Mark,
Not everybody in Congress is bought and paid for but the majority for sure. I am digging in and holding on! Thanks Mark.
Greg