Our Financial Oligarchy; Emperors of a Brave New World
They own the regulators; they own the brokerage houses; they own the clearing houses; they own all of your investments; and it’s even been shown that they can exert complete control over the government.
To understand how these banks exert complete control over our financial system, one must first understand the securities clearance system.
In the United States of America, there is only one central clearinghouse: The Depository Trust and Clearing Corporation, and for almost 50 years they have maintained a virtual monopoly over this essential service.
It is a private corporation that is owned by these mega-banks and brokers.
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PDF (470 Pages): Our Financial Oligarchy Back-Up
It’s a ‘Swimming Naked’ Moment: The Financial System Has a Real Test
James B. Stewart
New York Times, 10 March 2020
The investor Warren Buffett once gave a famous warning: “It’s only when the tide goes out that you learn who’s been swimming naked.”
The tide has just gone out again, and clues to who’s been swimming naked have begun to emerge.
Mr. Buffett first made that comment in 1992, after Hurricane Andrew exposed the inadequacies of the insurance industry, to describe the rosy appearances that can mask financial recklessness until the good times end.
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Jim Cramer Called Onto The Carpet By Jon Stewart
Sanity Check via Wayback, 13 March 2009
Everyone needs to watch these three segments of the Jon Stewart show. They are remarkable, because they show an intelligent, reasoned man confronting the intellectual dishonesty, if not larceny, that is financial reporting in America.
What makes them so remarkable is that Stewart is not a top economist, nor a seasoned DA, nor an expert on financial markets, nor a skilled attorney. He’s a comedian. He makes funny remarks about things, and mocks the world, and is generally hysterically funny in his efforts.
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