Sunday, January 10, 2010

Banksters Can Be Defeated!

A trade-union with some brains!

Did you know that banks can make bets on companies failing? When they fail the banksters stand to make a fortune. They do this through what's called 'Credit Default Swaps' (CDS) or 'derivatives'. Theft packaged up in a bamboozling name.

Theft? Well, during the bubble years (caused by fraudulant derivatives trading and money printing) the company grew thanks to buying other companies at high distorted prices. So, with the economic correction taking place these companies are now loaded with debts they owe investors.

So, what happens is the banksters have clients who invest in a company and which have voting rights on the board. To fix the financial problem the company asks shareholders and bondholders to take a greater share of the ownership of the company in return for cancelling the debt the company owes them. At that point said investors refuse. The result? Banksters and said clients rake it in through collecting on the bet and a perfectly good company is destroyed, laying off thousands of workers in the process.

This is one of the reasons there is a 'recession'. You see Brown and Darling would have you believe that it just happens. The economy is a thing that works on its own and you can try this or that to fix it but there's no guarantees. TOTAL BULL. They've caused it - they allowed these City casino bets on company collapses to fly. They encouraged it. They're giving your money to the banks to continue the practice.

Yes, free taxpayers money to destroy the economy - that's what happened and that's what's still happening.

One success in the US has emerged for trade unions. The union realised what was going on and that "all of Wall St" was trying to destroy its trucking company with the consequent laying off of 30, 000 workers just so they could turn a quick buck! Killing people's jobs using those peoples' money..

The success of this trade-union against the Wall St. thieves is written about by Andrew Cockburn in counterpunch:

How the Teamsters Beat Goldman Sachs

Allowing exemptions from regulation of Credit Default Swaps had the banksters licking their lips because:

This allowed Wall Street to conclude that any risk could be hedged with a bet.

The consequence?

The result, of course, was disaster, with economic consequences that we will be feeling for a very long time.

And you thought it was just the way the economy works.. No, Britain sold these things all over the world. That's why companies where exploding in countries on other continents - not because of a global recession but because of a system of globalised theft orchestrated in The City and Wall St.

Goldman Sachs was the biggest contributor to the Obama campaign. The political influence of these people is strong in Britain and Brown has been in thrall to them too. It goes back to the Blair administration and remember that Blair got a consultancy with JP Morgan just 3 days after leaving office getting paid GBP 2, 000, 000 a year. And that's the Labour Party!

People, this scourge of robbery hasn't stopped. It's going on and on. It's your jobs their destroying and it's your money they're using to do it.

Please see my previous entry about boycotting the banks. They take your deposits, multiply those deposits by as much as 100 times and they use that money to make bets on companies collapsing.

Then they mulitply your deposits, that means that if you take out GBP 1, 000 from your account that deprives the banksters of between GBP 10, 000 and GBP 100, 000 that they then use to attack you and your friends jobs..

You simply have to defend yourselves by taking out your money and putting it into community banks instead of these corporate giants who are hell-bent on stealing your wealth and futures!

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