08 Mar How does the average Joe stop getting ripped off?
How does the average Joe stopped getting ripped of? The answer is simple… through knowledge. We need to inform ourselves and not just go along with the masses and trust. Many of the major banks that helped cause the financial crisis are under investigation for fraud and for downright lying to their customers. Getting their customers to buy mortgage backed derivatives to keep the price up while selling their own holdings in the same stock.
start your journey here with this book
“It was not the consequence of a cyclical downturn of economic activity, but the result of a complex process of financial manipulation, including speculative trade in derivatives.
These speculative operations drove the market up at opportune moments and then drove it down.
Those who have access to privileged information — political, intelligence and military — had the upper hand in the conduct of these highly leveraged speculative transactions. In turn, private and offshore banking enabled the profit to be transferred from one location to the other.
The financial markets triggered the collapse of listed companies through short selling and other speculative operations. They then cashed in through buying the profitable operations of the bankrupted operations.
Having caused the financial meltdown, they have cashed in with windfall gains through the bailout money provided under the Bush and Obama administration bank bailouts. This has furthered their control over the real economy, by buying up and acquiring real economic assets; as once highly profitable companies collapse, the money managers pick up the pieces.
The Bush/Obama bailout measures will contribute to a further destabilisation by transferring large amounts of money at taxpayers’ expense into the hands of private financiers, resulting in a spiralling public debt and an unprecedented centralisation of banking power.
State-owned assets and everything under state jurisdiction is up for private acquisition as the financial establishment calls for the restructuring and privatisation of state assets.
What we are dealing with is a large-scale process of appropriation, unprecedented in history.”