To: Skeeter Bug who wrote (17816 ) 8/29/1999 5:37:00 PM From: Rational Read Replies (1) | Respond to
Stock markets are becoming virtual at this moment, tied by many taken-for-granted contracts by which most (99 percent) of ordinary Russians, Indonesians, Pakistanis, or Brazilians and other poor denizens of the world owe tons to the ultra-rich capitalists. Even the bottom 95 percent of Americans are sunk deeply in their belief that they have become rich dues to the virtual asset price inflation fueled by capital infusion from Russian oligarchs or Columbian druglords, or the Suhartos of other countries. This existing system will (at least it appears so far) to work if the 99% of those little guys all over the world sit subconsciously tight as their natural resources are plundered because the stockholder of the company, sitting cloistered somewhere in the USA, happened to have acquired the ownership of the company's natural resources for pittance as a result of his connection to the rich/political mafia. However, if the ordinary Russians understand the machinations of their rich comrades who have siphoned their wealth and mortgaged their natural resources, they will get into a riot gear as the Indonesians did. If this happens all-over the world, the fabric of the "secure" financial contractual system would be in tatters. Then the Greenspans of the reserve banks will become hated commodities, and the stock markets will be difficult to mend from their ruins. We had some flashes of these when Russians declared moratorium; but quickly promised to repay the external debt so as to get more money. How long will countries like Pakistan play ponzi games with the rest of the world? Will the US bomb a nuclear Pakistan to retrieve $36 billion? It is a fact that Paks cannot pay the money and they are in the real game, so are many other countries like Russia. I do not see an imminent disaster, but I will not be surprised if one happens.
