Who Rules USA Today? This is the question asked by the awakened humanity who wants to get liberated from the clutches of the domination of Great Satan, the USA. This is the point raised by Iranian researcher, Dr. Hyder Reza Zabeth in an interesting analysis.
Taxpayers in USA are paying billions of dollars for a swindle pulled off by the world’s biggest banks, using a form of derivative called interest-rate swaps. Over the life of the deals, banks are now projected to collect billions more than they pay state and local governments – an outcome which amounts to a second bailout for banks, this one paid directly out of state and local budgets. LIBOR or the London Interbank Offering Rate is the benchmark rate by which banks themselves can borrow. It is a crucial rate involved in hundreds of trillions of dollars in derivative trades, and it is set by these sixteen megabanks including the three largest US banks (that is, JPMorgan Chase, Bank of America, and Citigroup), the three largest UK banks, the largest German bank, the largest Japanese bank, and several of the largest Swiss banks privately and in secret. Interest rate swaps are now a $426 trillion business. That’s trillion with a “t” – about seven times the gross domestic product of all the countries in the world combined. According to the Office of the Comptroller of the Currency, in 2012 US banks held $183.7 trillion in interest-rate contracts, with only four firms representing 93% of total derivative holdings; and three of the four were JPMorgan Chase, Citigroup, and Bank of America, the US banks being sued by the FDIC over manipulation of LIBOR. This gross manipulation of interest rates by the US Federal Reserve itself was a giant windfall for the major derivative banks. Indeed, the Fed has been called a tool of the global banking cartel. It is composed of 12 branches, all of which are 100% owned by the private banks in their districts; and the Federal Reserve Bank of New York has always been the most important by far of these regional Fed banks. New York, of course is where Wall Street is located.
Privatization in USA is one of the main factors for the widespread state corruption. Almost always, privatization becomes a way for well-connected private interests to loot both the public purse and the general welfare. Another form of privatization is to turn traditional government functions, such as prison operation and many supply functions of the armed services, such as feeding the troops, over to private companies at a large increase in cost to the public. Essentially, the libertarian ideology is used to provide lucrative public contracts to a few favored persons who then reward the politicians. This is called “free enterprise.” The so-called “free” US has not only the highest percentage of its population in prison but also the highest absolute number. “Authoritarian” China with four times the US population has fewer citizens in prison. All US financial markets are rigged for the benefit of a few. We have had the exposure of high frequency trading front-running buy and sell orders. We have had the exposure of the big banks rigging the LIBOR interest rate and the London gold price fix. So there you have it. The United States government is so overwhelmingly corrupt that even the financial regulatory agencies have been corrupted by the money of the private capitalists they are supposed to regulate. The response of President Vladimir Putin’s response to the Ukraine crisis created by Washington’s coup in Kiev is to rely on “Russia’s Western partners,” the UN, the Barak Obama regime, John Kerry, etc., to work out a reasonable solution to the crisis.