With all the political finger-pointing going on this election year, I feel the need to underscore that the current global financial crisis was “caused primarily by the greed of 1990 to present in the form of OTC derivatives.” OTC derivatives are bets on the directions assets will go as opposed to actually owning and selling them.
The computer explosion enabled Wall Street to become a gambling casino of such sophistication that even today the Fed cannot keep up with the money changers. What they did was not illegal, but it was immoral. Yet the temptation of instant huge wealth was as great as the greed on the streets for a free ride if government will provide it. Greed permeates Kali Yuga… rich and poor alike.
The OTC explosion happened before politicians had any idea of the problem. Politicians, democrats and republicans alike, and certainly the SEC (Securities and Exchange Commission) were simply blindsided. Politicians, and especially the SEC, who’s very purpose was such oversight, were asleep at the wheel.
Yes, subprime loans, going off the gold standard, allowing savings banks to speculate with investor’s money, union abuses, excessive enslavement through student loans, huge national debt, and excessive centralization of government are indeed contributing problems. However, OTC abuse exceeds them all. Putting it all together, there has been a perfect storm.
The financial health of a nation touches every individual much more than the average citizen seems to comprehend or even care about. There will be an economic phase transition. After the dust clears, there will be a wave of great global prosperity, which will come in with the tide of Sat Yuga. Our work is to do what we can to make the transition as smooth as possible. The best you can do for yourself is join in.
Opportunities such as this come once in a million years. Do not waste time.