wall_rus , we agree! Money is the root of the evil. See >
"The baleful reality is that big banks, the freakish offspring of the Fed’s easy money, are dangerous institutions, deeply embedded in a bull market culture of entitlement and greed…..
During the recent quarter, for instance, the preponderance of Goldman Sachs’ revenues came from trading in bonds, currencies and commodities. But these profits were no evidence of Mr Market doing God’s work, greasing the wheels of commerce and trade by facilitating productive financial transactions.
In fact, they represented the fruits of hyperactive gambling in the Fed’s monetary casino – a place where the inside players obtain their chips at no cost from the Fed-controlled money markets, and are warned well in advance, by obscure wording changes in the Fed’s policy statements, about any pending shift in the gambling odds.
To be sure, the most direct way to cure the banking systems’ ills would be to return to a rational monetary policy based on sensible interest rates, and an end to frantic monetization of federal debt and a stable exchange value for the dollar.”
The modern version of "Free Trade" a joke as China pegs it's currency to the U.S. Dollar throwing all world trade into a tilted pinball game, where we lost big....
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