Tuesday, December 27, 2011

MF Global (cont.)

A few of the blogs I follow regularly are wonderful, for several reasons: they are often 'insiders' who know the financial markets and how they work, they have an ability, and (fortunately for us) a desire, to explain this information simply and clearly, but perhaps more importantly they have unfettered thinking when it comes to imagining the impossible. Put another way, they do not suffer from the cognitive dissonance that the vast majority of people are going through at the moment.

'I believe that bankers created futures markets for the explicit intent of allowing themselves to manipulate the prices of commodities and to enrich themselves, and themselves only, through the process of alternately and artificially inflating and deflating prices as would not be allowed in any type of free market.'

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As I've said many times before, the howl that will go up from the masses when they realise they have all been swindled by a small group of greedy men should be enough to put the fear of God into the latter group. I hope I live long enough to see not only justice but the emergence of a better system, and therefore a better world.

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