The Derivatives Market: Bets, Bookies, and Fraud

The gambling itself moves the market. The financial crime syndicate noticed how this gambling operated, and figured out how they could create their own “book-making operation”, where all the bets were rigged, and where these banksters were not only allowed to take bets (i.e. act as bookies), they would also be allowed to place bets, in this same market. All they had to do was to make-up a bunch of euphemisms to hide this systemic crime.

 

Here we see fraud in its most-elementary form. ‘Legitimate’ bookies never bet in their own “market”. Even in the world of quasi-illicit gambling, it is recognized that allowing this would allow bookies to rig their own gambling. But not in the world of “banking” and “derivatives”. Here the biggest bettors in this fraudulent gambling (by many orders of magnitude) are the bookies themselves.

Goldman Sachs —  $47.7 trillion

Bank of America —  $53 trillion

Citigroup —  $56 trillion

JPMorgan —  $78.1 trillion

This is totally illegal, in so many different ways. To begin with, most of these “derivatives” (i.e. bets) were illegal, until the Clinton regime obliterated most U.S. financial regulation, and simply stopped enforcing any laws that still remained on the books. This criminality was then rubber-stamped and extended by the subsequent Bush Jr. and Obama regimes.

Secondly, and as noted, there is only one “legal” limit for the amount of gambling that these bookies should be allowed to place in their own “market”: $0. But, of course, to penalize this illegality, you need to havelaws, and the derivatives fraud-market is totally lawless. How lawless? Not only are the bookies allowed to bet (massively) in their own casino, these bookies/gamblers/criminals are allowed to “regulate” their own casino.

http://www.bullionbullscanada.com/index.php/commentary/us-commentary/26653-the-derivatives-market-bets-bookies-and-fraud

 

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