I have a desire to completely do away with “unregulated markets” of all kinds and “unregulated financial derivatives” of all kinds. In a world with over 6 Billion people, highly interconnected and mutually destined to live the same fate, there no longer exist any positive human element to Trillions of Dollars swathing around betting for or against any asset class or created asset class with the sole objective of raking as much money out of the global financial system as possible irrespective of the consequences of their actions on the lives, destinies or wellbeing of the human beings their actions touch.
These unregulated institutions function outside of the regulatory structures of any nation, global governing body, or regulated institutions, answer to no person or persons in any jurisdiction with which they operate and seek to make money irrespective of their impact on the human beings they may have positively or negatively. They need to be eliminated or regulated. They need all funding by regulated financial institutions to be terminated. Their products need to be liquidated. We need them no more.
All 401k accounts should go to cash now and stay in cash until the government fixes our vastly broken "free market" system. With thousands of people employing ever sophisticated technology with the sole purpose of taking as much cash out of the "free markets" and putting it in their pockets (clearly 60-80% of all volume in the "regulated markets" is being dictated by institutional traders, unregulated money), it is unwise for any hard working American to even contemplate putting money into this very broken system. I fear a entire generation of poverty stricken retirees within the next 5 years once again asking for a federal bail out of their worthless retirement accounts.
Saturday, July 03, 2010
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