Standing at the Precipice of a Financial Collapse: Time for a 21st Century Pecora Commission

• Standing at the Precipice of a Financial Collapse: Time for a 21st Century Pecora Commission
  by Matthew Ehret, March 16, 2020, https://www.strategic-culture.org/
  As Republican and democrat politicians hold emergency meetings to decide how to avoid a meltdown of Wall Street, the smell of hyperinflation looms in the air as much today as it did in Germany during the opening months of 1922. This week, markets were propped up by a record breaking offering of $1.5 Trillion in liquidity injections over the coming months (added to the $9 trillion already injected over the past six months), and rather than deal with the real reasons for this oncoming financial collapse, the media has brainwashed the west that everything would have been just fine, “if only coronavirus had not become a pandemic”.
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  But what is really being bailed out here exactly and why? Is this money actually making it to the real economy? Is it being invested to rebuild America’s farms, businesses and industry?
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  The reality is that the only thing being saved are the “Too Big to Fail” banks that are sitting atop a $1.5 quadrillion of derivatives bomb. Of the most bankrupt of America’s speculators are JPMorgan Chase, Citigroup and Goldman Sachs, whose derivatives exposure hit $48 trillion, $47 trillion and $42 trillion respectively in recent years.
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  It is my contention that Trump is genuine in his desire to “drain the swamp” and rebuild America’s lost industrial base. I also genuinely believe that Trump wishes to establish positive relations with Russia, China and other sovereign nation states which has drawn the ire of the international deep state. However Trump’s potentially fatal blind spot appears to be his tendency to believe the lie that Wall Street’s wellbeing is somehow indicative of America’s wellbeing.
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  If Trump is intelligent, (and his previous calls for Glass-Steagall’s restoration, and American System practices imply that he knows a thing or two), then rather than bailing out Wall Street by unleashing more gasoline onto the fire, it were better that he took the lessons of 1933 and established a new Pecora Commission for 2020.
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  read more.

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