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If you liked this evergreen truth blog then read more of them, about 4100 so far, or read one or more of my evergreen truth books, especially EVERGREEN TRUTH, rays of truth in a human world filled with myths and deceptions.
For a complete readily accessible list of blogs and titles go to twitter.com/uldissprogis.
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Most derivatives are a financial contract which can be used to insure against price movements (hedging), for speculation, and getting access to questionable intangible assets.
The actual credit risk of derivatives was about 3.3 trillion dollars although the total amount of derivatives traded over the counter was about 700 trillion in 2011.
Derivatives are frequently short term obligations and make it possible for wild speculation on small changes in interest rates, on changes in stock prices, on currency changes, on real and fictional bonds, and on unquantifiable assets. Pure gambling is the net effect.
Banks should not be buying and selling derivatives which are far too speculative and frequently have no foundation in real tangible assets. Banks should be forbidden to engage in pure gambling with central bank and taxpayer money which automatically guarantees banks against losses in the billions or even trillions.
A further disadvantage to derivatives is that their purchasing and selling begin to drive price changes of intangible assets so that the system can actually be rigged and price fluctuations begin to reflect the derivative activity. Big money is in charge and manipulates the derivative, stock, and interest market to their benefit to make huge big profits in a very short time.
Risk analysis on derivatives is done with complicated mathematical formulas which have no relevance in crisis financial situations and many are mislead into thinking that they know what they are doing financially when the truth is they don’t know at all how the system is rigged with big money moves dependent on the whim of the big money holders.
With so much phony money changing hands a small financial crisis can bankrupt many financial institutions or at least cause a severe liquidity crisis which benefits almost no one but big money and can lead to a major depression and plummeting of the stock market.
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Speculation: n. doing an investment which is frequently a very risky action(s) for short or long duration profit with a subset(s) which is frequently money
Speculation in its broadest sense can be thought of as taking a risk by investing in something which may increase or decrease in value with time.
Frequently speculative investments are very risky and considered to be rather unwise investments because you can lose all or most of the value in a rather short duration.
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Bitcoin money is speculative virtual or traditional “paper” money with no collateral or backup real wealth if the currency collapses. If the controllers of bitcoin decide to take down the fake monetary system on a whim or reduce its value via a secret computer algorithm you will become impoverished with less or no value or money for what you have invested. A bitcoin crash to zero is a realistic probability if those controlling the monetary system decide to steal it all from you.
The basic idea of bitcoin is a worldwide currency which is an ultimate ideal currency but any worldwide currency should be tied to tangible assets such as commodity mines, real estate, and solvent businesses manufacturing real products and/or services. The currency should not be a speculative currency which is inflated by a computer algorithm and based on no real tangible value or matter and/or energy.
Governments like the United States and China are counterfeiting currency or printing money without tying it logically to the growth of tangible assets in the GNP and inflating the money supply causing worldwide prices to go up and concentrating the wealth into fewer and fewer hands and impoverishing many in the middle class who are in great debt and paying exorbitant interest rates. There is a great danger that in the not so distant future we will once again have feudal like lords or the elite at the top and billions of serfs living at subsistence levels or working for subsistence wages without hope of advancement.
CONCLUSION
The world will eventually need a worldwide currency to avoid wars between nations but a just one which is tied to reality and a currency which is not a speculative crap shoot which can implode at any time. What is realistically needed is a currency which maintains its value or purchasing power without inflation on into the foreseeable future of the world. The bitcoin scam is definitely NOT that JUST worldwide currency for all its inhabitants.
In fact bitcoin is now being used to hide illegally made money and to transfer wealth across international borders without paying a tax.
You can see by the chart that there is a bitcoin bubble or an irrational increase in value and when it bursts the shit will hit the fan!!!!!!
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