Blythe Masters, the woman who invented Credit Default Swaps and caused the financial implosion of the world* is also the person whose frenetic commodities trading with JP motherfucking Morgan has resulted in the global rise in food prices and the current political implosion of the world (or more correctly parts of North Africa) not to mention the ingestion of plastic rice from China...
... according to my other hero, the not-quite-as-histrionic-today**, Max Keiser:
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Late Addendum: Blithely attempting to screw the world over again, Masters was the pusher behind attempt to create carbon derivatives for the now deceased US Cap and Trade scheme. According to hedge fund manager Michael Masters (no relation), from un-cited source on this blog
"...banks will attempt to inflate the carbon market by recruiting investors from hedge funds and pension funds.
“Wall Street is going to sell it as an investment product to people that have nothing to do with carbon,” he says. “Then suddenly investment managers are dominating the asset class, and nothing is related to actual supply and demand. We have seen this movie before.” {My emphasis}
Which is, allegedly, what is happening with other commodities (i.e. food) right now.
E@L
* "I for one feel that I have learnt from that experience and there are things I may like to have seen done differently." Blythe Masters.
** "Right, but the whole commodity complex is moving higher because of this incredible influx of money that is being directed by the bankers, for the bankers, at the exclusion of the global population. They're willing to commit mass genocide of the global population by increasing food prices to the extent of causing mass starvation just to keep that multi-hundred-billion dollar bonus pool active on Wall Street. That's the only reason this is happening. Those people are culpable in a mass homicide, a mass genocide." (8:20-8:38)
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8 comments:
Her name is Blithe Masters!?
How apt!
Yes, these masters of the universe blithely fuck us over. Thank Darwin I don't work for a bank!
Well, not an investment bank...
I was at a cocktail party one evening nearly 20 years ago. The host and hostess owned my then girlfriends flat. Both worked for banks, the wife is a department called "derivatives and swaps". As part of the polite conversation I asked what a derivative was. She hemmed and hawed a bit and then said "you'd have to work in investment banking to understand it." M'kay. I knew then that we were doomed.
Ironically I had her employer as my customer a few years later when they built a new trading floor. I was amazed at how the funny money rolls. To the traders it's all just numbers on a screen and not lives or products or anything else.
I followed the link and note Blythe enjoys riding horses. Now I can't shake the image of her and an extremely well hung stallion.
Same as Cathrine the Great?
Same as Cathrine the Great?
Damn! the first few sentences sum up everything I see as wrong about carbon credits/trading. It's gong to become another gigantic tax/slush find that is washed back and forth generating fees, charges and commissions out of thin air, whilst doing absolutely fcuking nothing about improving the quality of said thin air.
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