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Derivatives: Bailed-Out Banks Still Making Billions Off Risky Bets
The con job that has been foisted upon American citizens is a disgrace. You guys should be furious as you watch Wall St (and the Fed, which is really a subsidiary of Government Sachs) save Wall St. I mean no disrespect, but there is an Aussie here who honestly feels for you guys.
We were almost at the brink of market failure last year.
Watch the BBC's The Love of Money. A 3 parter documentary.\
And I didn't know that Iceland went bankrupt and the Finance Minister went to the IMF meeting with loads of cash because he did know if his credit card would be denied.
Most everyone I talk to is disgusted to the Nth degree, but everyone's a little unsure what to do about it. Call your Congressman, send a letter to your Senator? We all know that's a waste of time.
And I don't have the solution either, but I do know a few things you can take to the bank. All you have to do is spend a little time studying history and you'll quickly realize human nature causes events to repeat themselves over and over. It's been the same for thousands of years, and it's going to get ugly.
We'll come out at the other end eventually but not before a lot of people are hurt both financially and physically. And, or course, there will be war. No one can say what type of war or how many there will be but its bound to happen and cannot be stopped now. All we can do is prepare ourselves and our children in order to make the best of it.
But there is a positive side to all these problems. When things get bad, really bad, human beings naturally tend to bond together more closely than "normal". It makes us stronger, wiser and we simply treat each other a whole lot better. And that's a good thing. Who knows, maybe for the first time in human history we'll actually learn from our mistakes. You never know.