Comment: I'm SHOCKED! SHOCKED to Learn There's Gambling In This Casino

(See in situ)


I'm SHOCKED! SHOCKED to Learn There's Gambling In This Casino

All seriousness aside, such wholesale theft and gaming of the financial system on this order of magnitude at the expense of the 99% for the aggrandizement of the 1% could only happen under a fiat currency regime. Interest rate volatility on 10-year Treasury yields in the years and decades after the US abandoned the post WWII Bretton Woods agreement has been 7 to 8 times greater than in the early 1960s when the dollar was still linked to gold. The one crucial element that is needed for any derivatives market to succeed and flourish is volatility. If monetary reform were to re-establish a link between the US dollar and gold, it would make most interest rate and foreign exchange derivatives as obsolete as buggy whips.

Ed Rombach