Saturday, 25 May 2013

Confirming Matt Taibbi: The Conspiracy Theorists Were Right


A few weeks ago Matt Taibbi said in a 14 page article in Rolling Stone said that the Conspiracy Theorists were right and that every market was rigged by the bankers. And that included interest rates. commodities, Credit Default Swaps and the gold and silver markets. This has been confirmed by the courts and the securities markets. BP and Shell are being investigated in Europe for rigging oil prices. If the CEO of a small company were arrested, the stock price would go down. But BP and Shell stock prices remain unchanged. JP Morgan, HSBC, Wells Fargo-Wachovia and Goldman Sachs have all had legal difficulties but walked away from the courts with no jail time and fines that were a miniscule fraction of the money involved.

This confirms that the courts, the regulatory system, the politicians and the media are fixed and it is not just the 2.2 trillion dollar petrochemical markets that are run by the banks. The oil company executives and the bankers know they are not going to jail.

Stacy Herbert made mention recently of 40 charts that used to correlate and give us an idea of what is happening in the real world. In the old days unemployment used to indicate economic activity and hence stock price levels. No more. Now stock prices and employment do not correlate. We are in the midst of the greatest recession in decades with record breaking low employment levels yet the DOW 30 and S&P indices could not go higher. That is without even more help from the Federal Reserve.
http://vidrebel.wordpress.com/2013/05/22/confirming-matt-taibbi-the-conspiracy-theorists-were-right/


[Posted at the SpookyWeather blog, May 25th, 2013.]

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