1. “The Biggest Bubble In History: Fraud
Forget the Housing, Bond or Derivatives Bubbles … Fraud Is the Biggest Bubble of All Time
The housing bubble which burst in 2007 or so was the biggest bubble of all time.
Many argue that the bubble in U.S. bonds has surpassed the housing bubble as the largest ever.
Of course, given that the derivatives market is more than a thousand trillion dollars, and that is is backed by thousands of times less collateral, a good case can be made for arguing that derivatives are the biggest bubble.
But if you really think about it, the largest bubble in history is fraud, because it includes all of the above and more.
Specifically, the housing crisis was caused by fraud. The government encouraged fraud, and helped cover it up.
Huge swaths of the derivatives market are manipulated by fraud. See this, this, this and this. But instead of cracking down on the fraud, the government is backing it.
And the bubble in bonds was caused by super-low interest rates. See this, this and this.
Low interest rates – in turn – are caused by the government’s zero interest rate policy and quantitative easing.
And how did the government sell these programs? By saying that they were necessary to help the economy and create more jobs.
But in reality, zero interest rate policy is just another stealth bailout for the big banks. And quantitative easing only helps the super-elite … and hurt the economy and the little guy (Bernanke knew back in 1988 that QE doesn’t work for its advertised purposes.)
In other words, the government’s low interest rate policies were based upon a fundamental misrepresentation as to their purpose and probable effect.
Indeed, experts say that all bubbles are enabled by fraud.
But there are signs that the fraud bubble is collapsing.
Trust is falling to all-time lows as to many government and private institutions. Why? Because institutional corruption is so rampant that it is becoming obvious to everyone from Joe Sixpack to amateur and sophisticated professional investors.
While liberals tend to distrust big corporations and conservatives tend to distrust the federal government, we all agree that the malignant, symbiotic relationship between the two is the root problem. Indeed, when government and corporatism merge, it is hard for anyone to trust what is going on.
When government officials are as corrupt as the criminal enterprises they are suppose to regulate, even the mainstream media can’t ignore it any longer.
And the people lose all trust in the system.
No matter how hard the boys work to cover up their ongoing misdeeds, the fraud bubble may finally be popping …”
2. “The Derivative Bubble: Speculating on Food Prices, Banking on Famine
Goldman Sachs Made $400 Million Betting On Food Prices In 2012 While Hundreds Of Millions Starved”
3. “US military says Martin Luther King would be proud of its weapons
A repellent piece of propaganda appropriates the words and images of this nonviolence advocate to glorify US militarism
The US military – which is currently bombing Afghanistan, Pakistan, and Yemen at least, all in secret – just exploited one of the 20th Century’s greatest proponents of nonviolence and most vehement opponents of US militarism as a public face for its aggression and violence in the world. While King may have preferred to see an integrated military rather than one divided by racial strife, his condemnations of US militarism were particularly harsh when it came to the way the US military taught American citizens to embrace a culture of violence (“I knew that I could never again raise my voice against the violence of the oppressed in the ghettos without having first spoken clearly to the greatest purveyor of violence in the world today – my own government”).
The self-described mission of the Global Strike Command is to “develop and provide combat-ready forces for nuclear deterrence and global strike operations”. The US military is actually publicly claiming that the 1964 Nobel Peace Prize winner and steadfast critic of US imperialism would be an admirer of its massive stockpile of nuclear weapons, its global assassination programs, and its covert use of violence in multiple countries around the world, including where no wars are declared (in fairness, though, its Commander in Chief is himself a winner of the Nobel Peace Prize). Merely to describe this agitprop is to illustrate its repulsiveness.”