Public squeezed out of financial market

Letters to the Editor,
August 5, 2014 | 4:59 pm

American taxpayers and Congress have been deceived into allowing Wall Street institutions control financial markets as their private fiefdom.

The public has been squeezed out of market participation which eliminates the efficacious foundation of capitalism.

The Wall Street apparatus has arbitrarily transformed into de facto wholesale insider trading long and short enabled by programmed automated computerization instantaneously executed.

The result is an insidious Wall Street paradigm that inexorably serves insiders prodigious trading profits destructive to the public interest because of lack of correspondence to the dismal state of economic reality and emergence of a cataclysmic bubble.

The escalating disequilibriums of global financial markets, burgeoning and unsustainable debt, massive underemployment and minuscule interest rates are disincentives leading to financial collapse.

The New World Order dominated by financial elitism is directed by autonomous central banks in concert with unbridled international financial institutions which have fostered a financial cabal immune to governmental oversight and democratic principles.

The resulting trend is a dismantling of national currencies and objective restraints. There is the ominous prospect of a financial tyranny subverting any trace of national sovereignties and usurping all powers over the citizenry which is fast occurring today in Europe.

George Black

Iowa City

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