A World Financial Collapse?

Information is reaching me that the world financial system is essentially in tatters. The fact that you may not be aware of this is testament to a corrupt media, one tied to corporate interests.

The main culprit in terms of the financial system are what are known as derivatives and hedge funds. These financial mechanisms are little more than casinos, offering users a fancy method of wagering on the future value of commodities. To say that these financial instruments do not represent real money seems obvious and yet this fact has escaped the attention of many.

There is much more to be said about this subject and I certainly do not claim to be an expert. However, those who do have a strong background in finance are warning of a collapse. Even Robert Rubin has spoken recently of a serious weakness in the world economy.

The solution seems to be a prohibition of such dangerous forms of wagering and of placing the banking system into foreclosure. This does not mean a permanent closing of the banks, but rather, as under Franklin Roosevelt, a planned bank holiday allowing for the reining in of a run-away speculative market. (And let us remember that banks are now permitted to offer various kinds of stock and other monetary instruments.)

Such a program should also go along with a revitalization of the Civilian Conservation Corps (legislation for which is still on the books). Our people need good-paying, steady jobs -- jobs with real meaning and pay, not hamburger-flipping jobs.

Some will say this will cost too much money. I say we cannot afford not to take this kind of action. Please contact your legislator and request his or her support for such actions, now so urgently needed.