April 8, 2022
as of nov 15 2021 the OTC notional derivatives value is $610 TRILLION, the idea that this rule and so many like it before are only a warning to those affected. this entire market has become so convoluted simply as an added layer of obfuscation to understanding how it operates.
they (every major bank) have robbed every single person on the planet of their retirement, savings, and time by making bets on future (bets) gains and losses. now that the SLABS have almost no value, CDS have no value, and any bonds easing this calamity are losing value as fast as oil. how much further indebted do we have to become before someone finally says that this is enough Libor ending, which is overdue from when it was first introduced over ten years ago, is just one more completely exhausted fraudulent scheme, now all the value is gone (criminals ability to steal from it), so the powers that be are ready to let it go.
one more rule asking criminals to kindly stop breaking the rules is about as useful as macron pointing the finger of blame on those defending their home against intruders. this plutocracy yet again willfully turns a blind eye to enact rules for thee and not for me by creating systems to scapegoat those without the financial resources to defend themselves.
if we allow institutions to run unregulated and call them too big to fail then we're only setting ourselves up for a disaster. how is putting this rule in place after the damage is done and then allowing these same institutions to continue doing business? the federal reserve and their 23 direct market makers have it within their power to absolutely create and control the completely fraudulent swaps market and have already destroyed the economy of our planet.
this rule is nothing but lip service to quell those who are looking for a solution, if anyone wants to deal with the reality of this predicament we'll need much more robust change.