May 13th, 2010 by Dissolving Dollars

Goldman Sachs had a perfect first quarter of proprietary trading (trading with their own bank created money for their own profit). That means that all 63 trading days in the U.S. markets in the first quarter were winners for Goldman. Needless to say, in a fair game, that is a nearly impossible feat. But Goldman wasn’t the only perfect trader in the first quarter, so was JP Morgan. And although not perfect, Morgan Stanley managed to make money 93% of the time. It all just goes to show that when you have the resources to determine the direction of a market, you can’t lose. It becomes just like a casino, it is rigged in favor of the house. So, that just goes to show that the idea that the market is some kind of oracle of the health and future of the economy is a delusion. All the markets is is a barometer of whether the big banks are mostly buying or selling on any given day. It is a joke.

And it isn’t only the markets that the big banks rig, it is also the government. Just look at the recent giant European Union bailout orchestrated by the European Central Bank and the Federal Reserve. The only things that bailouts like that do is reward bad government behavior by delaying the day or reckoning and they assure no loses for the banks who finance bad government behavior. It is all a sick symbiotic relationship between governments and banks that turns them both into monsters. Plus, all that funny bailout money (debt) and risk manipulation messes up the real economy.

But no one in the mainstream ever comes out and says what the real problem is with all this stuff. The problem is that MONEY IN THE MODERN WORLD IS LITERALLY NOTHING BUT DEBT! The world doesn’t need bailouts, it doesn’t even need investigations into Goldman, it needs real debt-free money.