"Global Derivatives Casino: The fact that common folks in the US and other developed countries have not come out in arms to lynch the central bankers and their accomplices in Wall Street and other banking centres is an indication how effective the financial elites have been able to hoodwink and confuse the masses. $Trillions have been wiped out but hardly anyone of substance has demanded criminal prosecutions. Fraud, massive frauds have been committed by top bankers, lawyers, accountants, regulators and politicians of all hues but none had to pay for their crimes. But, the guy who robs the corner shop down the road for a couple of bucks is incarcerated for five years or more, buggered and abused in prison. There is no pity for such a scumbag, no matter what are the circumstances that drove him to commit the crime. The Bernankes, the Geithners, the Paulsons, the Larry Summers and their pals in Goldman Sachs, JP Morgan, Citigroup, Merrill Lynch, Bear Sterns, Lehman Brothers, Fannie Mae, Freddie Mac and their European counterparts are given blanket immunity and allowed to continue the rape and plunder of the global economy. $Trillions have been spent to bail out these corrupt bankers. Not one banker, regulator or central banker has been prosecuted. In the past two years, you may be excused for your ignorance. Now, there can be no more excuses for not taking actions against these financial rapists. And if you don’t, you deserve to be raped and plundered!"
There is no easy way out for the US after stealing so much prosperity from the future through debt. Clearly, the 'canonical New Keynesian' model that holds such sway on America's elites is intellectually exhausted. But the Fed has an arsenal of neutron bombs. Stimulus leaking out of the West's stagnant economies is flooding into emerging markets, playing havoc with their currencies and economies. Capital controls eyed as global currency wars escalate... Brazil, Mexico, Peru, Colombia, Korea, Taiwan, South Africa, Russia and even Poland are either intervening directly in the exchange markets to prevent their currencies rising too far, or examining what options they have to stem disruptive inflows. Peter Attard Montalto from Nomura said quantitative easing by the US Federal Reserve and other central banks is incubating serious conflict. "It is forcing money into emerging market bond funds, and to a lesser extent equity funds. There has truly been a wall of money entering many countries," he said. Brazil's finance minister Guido Mantega (pointing the finger at America, Europe and Japan): "We're in the midst of an international currency war, advanced countries are seeking to devalue their currencies", pointing the finger at America, Europe and Japan.
