Whether you know it or not the derivative damage that caused the 2008 financial massacre and millions upon millions of foreclosures continues to plague America in ways that are unfathomable.
You can blame deregulation of the financial industry, too much dirty money in state and federal politics, outright bribery, a lack of moral and ethical behavior and a significant blur between the three branches of government that were originally designed to be oversight protection.
You may not know that the $700 TRILLION+ debt created on Wall Street took out (destroyed, eliminated, stole) billion$ of pension and retirement funds from nearly every aspect of government, trade unions and corporate 401ks to the point that severe cutbacks had to be made from furloughs to total haircuts… And now these lousy, corrupt and bribe-r-us bankster created investment vehicles have wiped out the futures of millions of American families – and many don’t even know it yet… but your politicians do.
See: The Sucker Punch – The Elite’s Attack on Pension and Retirement FundsContinue reading →
Municipal workers could be robbed of pension funds to pay big banks for payments due on interest rate swaps.
The Detroit bankruptcy is looking suspiciously like the bail-in template originated by the G20’s Financial Stability Board in 2011, which exploded on the scene in Cyprus in 2013 and is now becoming the model globally. In Cyprus, the depositors were “bailed in” (stripped of a major portion of their deposits) to re-capitalize the banks. In Detroit, it is the municipal workers who are being bailed in, stripped of a major portion of their pensions to save the banks.
Remember: “First come, first served”
Like the Billionaires dumping stocks – get it out of the banks now and invest in something tangible. Plant a garden, put solar on your roof – you may not want to leave those 401ks and mutual funds just sitting there because they may not be there when you need them most. [Ed. DeadlyClear]