Wall Street is the Detonator for Thermonuclear War
An increasingly unstable slide towards potential all-out war is resulting from the escalating sanctions and provocations of Russia by London, Obama, and NATO. That is plain to see. And there are the smaller details within the picture of the danger of war: Such as stout Angela Merkel, deluded by London and New York into sacrificing Germany, while dreaming that she is successfully taking on the giant of China and Russia!
But what only the most sane national leaders see is that the bankruptcy of Wall Street, looming again, is the driver for this threatened thermonuclear war. As economist Lyndon LaRouche puts it, Wall Street is the bomb. Rather than face the bankruptcy that is rushing toward them now, they will provoke uncontrollable currency crises and set a fuse on nuclear war.
Look what Wall Street and the City of London face. First, European Union in complete economic collapse and deflation. Next, U.S. oil debt bubble suddenly starting to implode at the center of a $2.5 trillion high-yield debt bubble already hemorrhaging losses. American Banker noted today:
"Oil at $50 per barrel will almost definitely create problems for banks in oil-producing regions as well as Wall Street financial institutions."
Major banks' revenues dropped by 17% from the second to the third quarter, and their revenues from loans dropped by 61% because of those bubbles popping. Finally, they face a partnership of China and Russia, accompanied by the BRICS-allied nations, which is far stronger economically. Wall Street's own cheering section, CNBC-TV, has just posted a long economic analysis of China's immense growth potential over four continents, vs. Europe's complete economic bust.
In reaction, Wall Street banks are inflating the huge bubble (financial derivatives) around their failing speculative debt bubbles. They increased their foreign exchange derivatives exposure by 90% in the third quarter alone! Credit derivatives exposure (again, that oil debt bubble) increased by 27%. The speculative loss is thus leading to a much bigger loss. These banks are guaranteeing the big blowout this time is going to be far larger than in 2007-08.
Twice in two weeks has Wall Street forced Congress and bank regulators to eliminate a bank regulation which might leave their speculative losses unsupported -- first the rule which took FDIC insurance away from some of their derivatives speculations; then the Volcker Rule, which is now off until mid-2017, on its way, the bankers say, to mid-2022, when none of us may survive to care.
This doesn't represent power, it represents desperation. And that is why Wall Street and the City of London are driving every form of financial warfare attack against Russia, its currency, its President, driving for a war confrontation.
If we suddenly learn, in horror, that a nuclear war confrontation has begun out of the center of bankrupt Europe, Wall Street will have been the bomb.
Unless we crush Wall Street immediately and quickly, with a restored Glass-Steagall Law and a policy of Hamiltonian credit, and enter cooperation with the BRICS-allied nations to rebuild the economies of the planet.