A short answer to "the" insoluable problem!
in response to
by
posted on
Jul 04, 2010 01:00PM
San Gold Corporation - one of Canada's most exciting new exploration companies and gold producers.
Bob Moriarty:, What we need is another Glass-Steagall Act. We need to take banks back to being banks instead of casinos underwritten by the United States government and with their losses paid by taxpayers. If they actually reported their assets, you'd see every bank in the U.S. underwater financially.
The biggest of the big banks are doing something called High Frequency Trading. Basically, they are getting data a half second before the rest of the market and they are front-running their own customers. HFT is 70% of the market trading and it's stealing. (Happening daily with SAN!) Congress didn't even address the issue. Because they have been bought and paid for by Wall Street and the biggest of the banks. It's all corrupt and nothing is going to get fixed until we demand an honest monetary system.
Banks are supposed to be conservative. When I go down to the bank and deposit a check, I want to know that money is going to be there a week from now. I don't want those guys flying to Vegas shooting dice with my money. That's what they're doing. We are at a pivot point in world history. The people in Greece understand they're being screwed by government. The Greek government made all these promises they can't possibly keep. People in the U.S. are waking up to the fact that we're $150 trillion in debt and we only have $50 trillion in assets in the U.S.
We need to go back to Economics 101. We need to put people to work doing real things rather than make-work. We need to get government off the backs of taxpayers. We need to declare bankruptcy. We need to reduce the size of government. We need a lot less government and we need to start all over. And in the end, we will. Individuals around the world understand that we are at a turning point in world financial history. Governments don't.