Wednesday, September 28, 2011

financial system will collapse

it seems like this video is making its appearance everywhere in the alternative media universe -- from zero hedge on the right to common dreams on the left -- because one trader was blunt and honest enough to speak the plain truth about the state of the world's markets:

Trader on the BBC says Eurozone Market will crash - YouTube: ""

there was even an effort to discredit him, and ascribe his appearance as a "hoax" perpetrated by a group known as "yes men" because of rastani's resemblance to another guy in a video from 2004.

it's the usual misdirection scheme: make the guy the focus of the story, instead of his remarks. it works often enough that the oligarchs and their minions in the corporate media regularly resort to it. kind of like the "climategate" story, which conflated a bit of inter-office politics with a refutation of scientists' observations that human activity is altering earth's climate.

rastani is, at one point, asked what needs to be done to "fix" the markets. his reply was blunt and to the point: he doesn't know, and that's not really his concern as a market trader. unlike the spectacular frauds who populate the media bubble, spewing relentless, obligingly reassuring drivel, he merely observes a trend that inevitably leads to systemic collapse. his refusal to sell soap -- in the form of policy prescriptions -- only bolsters his credibility. he's not promising that if you follow him, you'll be saved.

that seems to be the full-time occupation of the institutional figureheads to pontificate on the news channels and in the business press, whose palaver about how a solution to all the decades' worth of accumulated fiscal and monetary slime is exasperating in its pure audacity. no scheme or scam to help insolvent governments pay back old debt with new debt has a popsicle's chance in Hiroshima of being paid.

that is simply all anyone has on offer.

no taxpayer bailout will save the swindlers this time, since the sovereigns are almost all on the ropes themselves -- including the almighty FED -- which rastani rightly calls the whore of goldman sachs. there isn't enough money in the whole world to pay off the bad debts these greedy bastards have enabled borrowers to make.

collapse is inevitable, so let's get it on and flush the contamination out of the system. start with the TBTF banks, and work our way down the line until the web of deceit that the banksters have created is finally, irrevocably disentangled from the states and economies upon which they've dropped their devastating turds of financial mass destruction.

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