Financial markets are rigged by the megabanks. Powerful financial institutions including JP Morgan Chase, HSBC, Goldman Sachs, Citigroup, et al and their affiliated hedge funds have the ability of “pushing up” the stock market and then “pulling it down”.
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When investing becomes gambling, bad endings follow. The next credit crunch could make 2008-09 look mild by comparison. Bank of International Settlements(BIS) data show around $700 trillion in global derivatives.
“Hitting depositors” could become the “new normal” of this diabolical project, serving the interests of the global financial conglomerates. There are provisions in the US, Canada and the EU pertaining to the outright confiscation of bank deposits.
The BRICS Development Bank (NDB) & its Contingency Reserve Arrangement (CRA) are dollar denominated entities. Unless they are coupled with a multi-currency system of trade & credit, they do not threaten dollar hegemony.