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IPFS News Link • Currencies

Serfs Out: CFTC to Shutdown Currency Trading for Individuals

03-07-2010 • EconomicPolicyJournal.com

This has to be some long range government thinking to prevent individuals from profiting from a collapse of the dollar. Why muck up the profits for insiders, like Goldman Sachs, by allowing individuals in the game? It reminds me of FDR's move to confiscate gold held by individuals. After it was all confiscated and it was made illegal for individuals to hold gold, the insiders, including John Maynard Keynes and Bernard Baruch, loaded up on gold stocks. Then FDR instituted a huge government program to prop up the price of gold that resulted in huge profits for Keynes and Baruch.

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Reported By Jack Gregson

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