The Federal Reserve, Our Monetary System And Their Policies Are The Fountainhead Of Our Financial Issues…
Bill Clinton was responsible for deregulating the banking cartel’s and creating the terrible trade deal NAFTA that has contributed immensely to our current economic crisis.
The Glass-Steagall Act, was a 1933 law (banking regulation) that established a firewall between investment and commercial banking. It was in essence repealed in 1994 and 1999 with the Riegle-Neal Interstate Banking and Branching Efficiency Act and the Gramm-Leach-Bliley Act, both signed into law by Bill Clinton. This permitted Wall Street investment banking firms to gamble with their depositors’ money that was held in affiliated commercial banks:
Deregulating the banks has led to unsustainable derivatives that will could contribute to a financial meltdown. One Primary example is the Credit Default Swap. It is a credit derivative or agreement between two counter-parties, in which one makes payments time to time to the other and gets the promise of a payoff if a third-party defaults. The first party gets credit protection, kind of like insurance, and is called the “buyer.” The second party gives credit protection and is called the “seller.” The third party, the one that might go bankrupt or default, is known as the “reference entity.” CDS’s became popular as credit risks exploded during the last several years in the U.S. And Banks argued that with CDS’s they could spread risk around the globe. And because there is no requirement to hold any asset or suffer a loss, Credit Default Swaps can also be used for speculative purposes. The market is also largely unregulated because of Bill Clinton’s deregulation of the banks, which is leading to mass corruption, mismanagement and reckless behavior. This very well may all ultimately lead to a very serious financial meltdown and possibly a total global financial collapse.
- Michael Vincent –
Ron Paul Exposes The Federal Reserve…
Century Of Enslavement: The History Of The Federal Reserve…
For those who aren’t quite clear what derivatives are: In finance, a derivative is a contract that derives its value from the performance of an underlying entity. This underlying entity can be an asset, index, or interest rate, and often called the “underlying”. Derivatives can be used for a number of purposes, including insuring against price movements (hedging), increasing exposure to price movements for speculation or getting access to otherwise hard-to-trade assets or markets. Some of the more common derivatives include forwards, futures, options, swaps, and variations of these such as synthetic collateralized debt obligations & credit default swaps. Most derivatives are traded over-the-counter (off-exchange) or on an exchange, while most insurance contracts have developed into a separate industry. Derivatives are one of the 3 main categories of financial instruments, the other 2 being stocks (i.e., equities or shares) and debt (i.e., bonds & mortgages).
Cited Source For Derivatives… Wikipedia