Since September 16th 2008, the cloak that served to keep prying eyes away from ‘The Masters of the Universe’ was blown wide open. As in the film ‘The Wizard of Oz’ we got to see what lay behind the impressive power that the bankers exude, and, lo and behold it was conmen, thieves, gangsters, hustlers, sharks and generally morally corrupt individuals having a whale of a time playing roulette with other peoples lives.
These people came up with ever more ‘sophisticated’ and mathematically brilliant formulas for backing either red or black for substantial money. The fact that these formulas and systems kept on messing up was beside the point. The ‘engineers’ behind this charade were so clever that it didn’t matter if they were wrong.
All the time the we poor suckers sat at the sidelines marvelling on how brilliant these people were that we had to give them a bonus or a pension, or even give them a massive pay off for losing large sums of money. We silly spectators did question that losing £24 billion should not be rewarded by getting £600,000 per year pension, but we were told to shut up and sit down because if you want the best you must pay for it even if the best is rubbish!
So on went the game and for a while people questioned but were kept quiet by a simple tactic called ‘divide and conquer’. It is the oldest trick in the book but it still works and over in places around the World people voted to cut stuff that went to them so as to raise money to pay for the mistakes of the bankers. Whole countries such as Greece were told to shut up and pay up and the Greeks voted to do this. Obviously the alternative was a row in which those paid by the bankers would blame, immigrants, gays, people with blue hair any one that is different for the troubles, and, us suckers did just that.
I have nearly always argued that you should never give a sucker an even break! But sometimes as a sucker it would be good to get the heads up. So every now and then when playing cards I will actually show my cards after a hand just to let them know if there guess was right or wrong. So straight away I have broken two rules of never giving a sucker an even break, also breaking the rule about giving away free information.
However, you must think why would I give away free information and therefore giving the sucker of even money chance to have guess right? Maybe I was giving false information or trying to get my opponent rattled and get him on ’tilt’.
The bankers are blatantly having there wicked ways with us and we seem hell bent to let the screw us to the ground and keep on screwing us until we are dead then they will screw our children and we accept this modern day kuli indenture as if it is the right and proper thing to do!
As you can see and understand, there is no need to accept this. All of this nonsense is bluff and criminal. I can see where Karl Marx was going with this when he claimed the war against capital would start in an industrialized country, because, the citizens would likely be educated and could see through the bogus shenanigans forwarded by the bankers.
Humanity need to challenge and over throw this wicked system that forces future generation hard labour and servitude because some spotty faced individual decided to rig the interest rate or bet on a housing bubble or even tackled those increasingly complex derivatives which no one actually understood and could never figure out until all the computers crashed bringing down the system as Long-Term Capital Management did when it went into meltdown in September 1998.
So in just 14 short years we have seen mathematical models for trading crash and burn, whole banks having to be bailed out by governments and a load of banks headed by Barclays being found to have rigged the interest rate that banks use to charge each other. No one seems to be going to prison or even being accounted for these problems. In fact most of the people involved get a nice fat bonus.
Bob Diamond of Barclays’ Libor scandle is still looking to walk away with a years salary and bonus for presiding over a company that was fined over £200 million, for rigging the market!
In most scenarios when you mess up you lose your job and that’s that. With bankers when you lose your job you get paid off. It is beyond a joke now and something seriously needs to be done and done now!
Yes it is time for revolution and a complete change in the world wide banking system which means an end to all these weird and wonderful trading software and trading as we know it. It may seem like it’s Communism I am advocating but not all communistic ideas are wrong. The NHS is a great concept and is being replicated all over the World. That is a communistic idea in which everyone has equal access to health care. Therefore a world wide regulated banking system can be plausible since these financial cowboys are getting away with massive crimes.
The only gambling bankers should be doing is on a poker table or at a genuine casino, not on derivative trading using depositors money to facilitate the bets. When things go wrong in these trading systems its the public which picks up the bill not the banks.