Summers, Rubin & Clinton being the main perps ridding the world of a safety valve designed to avoid another 1929 crash.
·
Dec 1
Only Glass-Steagall Can Stop Credit From Feeding a Speculative Cancer—and Prevent the World Financial System From Blowing Up
Dennis Small, Latin-American Editor of Executive Intelligence Review (EIR), reports that four U.S. banks—JP Morgan Chase, Goldman Sachs, Citigroup, and Bank of America—hold 90% of the nation’s derivatives. He argues that the post-2008 bailout, involving over $27 trillion in quantitative easing, fueled this derivatives bubble instead of productive investment, creating a situation where “the speculative cancer has taken control over the host economy.”
Citing analysis by EIR’s Paul Gallagher, Small highlights a growing disparity between bank deposits and loans. After rising in tandem until 2007, a speculative shift occurred: by 2016, deposit growth outpaced loans two-to-one. From 2016 to 2021, that gap widened to four-to-one, with deposits surging $6.64 trillion against only $1.6 trillion in loans—a hyperinflationary trend.
Small states that even these limited loans bypassed productive use, instead feeding speculation in real estate, stocks, and derivatives, contributing to a $2.1 quadrillion global bubble.
He concludes that only a radical reform can redirect the financial system. “We have to make sure that through Glass-Steagall actual credit issued in the economy does not go to the cancer and that it does go to productive activity,” he warns, “otherwise the entire world financial system is going to blow up.”
https://x.com/apocalypseos/status/1995584887651533077
