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Tarpley: Freeze The $1.5 Quadrillion Derivatives Bubble As The First Step To Recovery

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posted on Mar, 25 2009 @ 12:13 PM

By Webster Tarpley

WASHINGTON, DC -- On the eve of the long-awaited London conference of the G-20 nations, we are rapidly descending into the chaos of a Second World Economic Depression of catastrophic proportions. In the year since the collapse of Bear Stearns, we have moved toward the disintegration of the entire globalized world financial system, based on the residual status of the US dollar as a reserve currency, and expressed through the banking hegemony of London, New York, and the US-UK controlled international lending institutions like the International Monetary fund and the World Bank. This is a breakdown crisis of world civilization, prepared over decades by the folly of deindustrialization and the illusions of a postindustrial society, further complicated by the deregulation and privatization of the leading economies based on the Washington Consensus, itself a distillation of the economic misconceptions of the Austrian and Chicago monetarist schools. If current policies are maintained, we face the acute danger of a terminal dollar disintegration and world hyperinflation.

The G-20 leaders are must deliberate a new set of policies capable of leading humanity out of the current crisis. We must first identify the immediate cause which has detonated the present unprecedented turbulence. That cause is unquestionably the $1.5 quadrillion derivatives bubble. Derivatives have provoked the downfall of Bear Stearns, Countrywide, Northern Rock, Lehman Brothers, AIG, Merrill Lynch, and Wachovia, and most other institutions which have succumbed. Derivatives have made J.P. Morgan Chase, Bank of America, Citibank, Wells Fargo, Bank of New York Mellon, Deutsche Bank, Société Générale, Barclays, RBS, and money center banks of the world into Zombie Banks.

posted on Mar, 25 2009 @ 01:14 PM
These people (G20 reps included) were directly involved in the derivatives scam. They will do nothing that doesn't amount to guaranteeing the revenue flow into their own coffers, even if it takes 1000 years....

In fact, maybe that's THEIR retirement fund. And we the people of the planet whose labor and enterprise are the host of these leeches will be expected to pay in full, or they will turn the system against us, and take their 'entitlement' out of us in blood, flesh, and tears.

The architects of this financial construct are the one's we have been warned against by prophets all over the world, of every type, since eons past.

The G20 will work to formalize and solidify the untenable position that THEIR concept of economy is the ONLY acceptable way to go. I wonder, is it?

posted on Mar, 27 2009 @ 02:14 PM
excuse please----- i am flying blind, as my local ISP (Earthlink) carrier is TWC and they are 'down again' a weekly test of the subscribers tolerence no doubt as they screw the present payers so as to enlarge their service area for future profits!!!!!!

about this thread,
which suggest the 'freezing' of any payments to make-whole the careless betters like AIG that made-then-sold layer-upon-layer of crud derivatives & CDSs with no-way to back up their bets which have been (crookedly) accounted as 'real debt instruments'
by the congress persons & the central bankers getting infusions of re-election cash from the junk-debt issuers...
whooa was that an intended slap ?!

most f youse either read or heard the synopsis of the Rollingstone article

i would like to give youse another lengthly, 4 page article,
which supplements the Rollingstone article... but adds important points
which Rollingstone did not address so much

the Professors text is published by the highly regarded Atlantic

-here's where i'm flying blind; because my connection is so slow that i cannot screen the content of this link....

but its well worth the time to read it:

lets stop falling all over the financial industry Gurus, their farts stink & that is the truth... no matter what the MSM has told you..
they (includes the likes of Greenspan/Paulson/Bernanke/Geithner/ CEOs of BAC/GS/ etc etc etc) are not gods among mortals they are greedy & selfserving , corrupt humans with hubris & greed and all other behavior frailities---no doubt


[edit on 27-3-2009 by St Udio]

Whoa again... by the time i completed this post at 3:17 real time EDT
the local ISP servers kicked in (out or disabled from 2:00pm - 3:15 pm)
-so now im back with youse in real, cable service time...yee-hah

[edit on 27-3-2009 by St Udio]

posted on Mar, 27 2009 @ 07:55 PM
reply to post by MajorDisaster

Yeah the key to this scam to avoid regulation was to hide the bad
derivatives on the OTC market. ( over the counter )

It is not regulated by the SEC.

So they stashed all their flip flops over there and avoided prying eyes.

They took the debt and hid it there, and took fake asset value
and pushed it into the main market.

The whole story can be read over at the Intl Forecaster here:

Quadrillion Dollar Powder Keg set to blow

I have been posting this for months, most ppl did not want to believe
it when I first started bringing it up.

Warren Buffet was interviewed for a Marketwatch story on how it was
500 Trillion ( Yes, with a "T" ) about 1 year ago and growing like a
cancer out of control.

This was all planned, and the worst is yet to come.

Some have even termed what is to come "Ponzimonium".

When ppl find out the level of complicity within and outside the
government the feces is gonna hit the fan.

posted on Mar, 27 2009 @ 07:58 PM
This is a reply I gave in another thread. I find it highly fitting for this topic as well.

Sorry there is no way to stop what is coming.

Empires collapse and rebuild under new leadership.

It's the fact that people dont want to change. Forget Obama's slogan! People really dont want change. Not the ones in power anyway. The power is addictive, the leaders have the power; the peasants want the power.
The sad part is that the peasants are being tricked into giving the leaders more power.

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