When you listen to this guy during his BBC interview, it is easy to understand why you are losing you pension and savings.
He claims that not governments rule the world, Goldman Sachs does.
I believe him, how else can you explain, why our governments have not stopped the practice of “going short”, at least for now, during this global downturn.
He talks about the recession being a cancer, all I can see that banks, fund managers and traders are the cancer and our governments are unable or unwilling to do anything about it.
This financial crash was caused by the same people, IMO, misappropriating our own money, lying, stealing and miss selling, to the general public and some brainless fund managers. Now the same people use our funds again to deliberately create a run on selected targets, i.e. companies or even whole countries.
We want businesses to create jobs?! But businesses have to cut cost, in order to prevent these traders descending on the company and destroying it.
We created the stock market as an instrument to capitalize businesses to grow. Helping to create jobs for the masses, helping to build a growing economy and to redistribute wealth.
Traders use the stock market as the biggest gambling shop in town, where the traded businesses are the chips for the roulette table. Wealth is created for a selected few only.
What makes all this even worth, is the fact that this happens with incredible speed. Once the “shorting” has started it creates a momentum of its own and billions are lost in seconds. These billions are often your pension and savings?
First these bankers and traders lost all our money (while they got rich), then the tax payer had to bail them out (while they got even richer on our bailout money) and now these guys, again using our own money, bring the whole economy down and are destroying your pensions and saving in the process – and guess what, while they get even more rich. Having done nothing but destroyed wealth.
These bears all the hallmarks of a cancer in our sick society.
Governments could stop this with one simple action – DISALLOW GOING SHORT – why don’t they?