On the TV News show 60 Minutes 10-26-08. They showed how corporations and stock market insiders have been betting on various financial instruments to fail.
These types of bets are called 'derivatives'! These were actually made illegal before the Great Depression. These types of investments don't workout because there isn't enough money to payoff the bets.
In a normal betting situation someone would have to bet for and against. You would have money placed on both sides.
In the 'derivative' market, a bank could loan money to an individual and bet against them staying in business.
Example:
*Bank loans company A $500,000
*Bank buy a 'derivative' for $1,000,000 (1 million dollars) against company A making it for only $1,500 or even less depending upon the other bets they have placed.
*The bank WINS either way. But they WIN bigger and SOONER if the business fails.
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Hello Steve,
So, why should all of humanity be forced to suffer and struggle any longer, now that the entire global financial system has been exposed as a mind-boggling deception, within many other deceptions? No one in their right mind would continue to be enslaved by a proven deception, which is also proven to be undeniable slavery-by-proxy !!!
The derivatives scams alone have grown to more than 20 times the entire global GDP (at last counting) and are now failing because the scam/pyramid scheme broke and exposed the deception for all to see. A significant portion of global wealth and power was created and propped-up using these and other now-proven smoke and mirrors and house of cards illusions and delusions.
These deceptions have grown many times larger than the rest of the entire world economy. Consequently, there is no way that all of the world's governments combined, who themselves borrow so-called "money" from other central-bank smoke and mirror deceptions, can solve this debacle, by using more smoke and mirrors money scams. The only solutions they are offering will take centuries to repay, if ever.
Here is Wisdom...
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