Russian Roulette: Taxpayers Could Be on the Hook for Trillions in Oil Derivatives

12281401Ellen Brown, ", president of the Public Banking Institute, and author of twelve books including the best-selling Web of Debt. In The Public Bank Solution, her latest book, she explores successful public banking models historically and globally. Her websites are Web of Debt, Public Bank Solution, and Public Banking Institute":

The sudden dramatic collapse in the price of oil appears to be an act of geopolitical warfare against Russia. The result could be trillions of dollars in oil derivative losses; and depositors and taxpayers could be liable, following repeal of key portions of the Dodd-Frank Act signed into law on December 16th.

Source: Russian Roulette: Taxpayers Could Be on the Hook for Trillions in Oil Derivatives.

Ellen is one of my favorite people.


Tom Usher

Here's my DISQUS comment posted on Truthout:

Within this generation, I believe the government wouldn't attempt to bailout the banksters via raping the taxpayers again. However, you are absolutely right, Ellen [Ellen Brown], that it is incredibly stupid to leave things as they are: We'll sort it out later.

The banksters and their politicians know all of this and have deliberately set things up where they will claim that "nobody knew." They'll pretend that they never heard others and you state very clearly and openly and where those banksters certainly get wind of what's being discussed about them and their politicians that the whole current setup is ripe for attempted abuse at the very least.

As you may remember, I've been advocating for quite a few years for one bank and that bank to actually be the US Treasury and also that banking and fiscal spending be fully democratized from the bottom up.

Privatized money has always been a very wicked idea.

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  • Tom Usher

    About Tom Usher

    Employment: 2008 - present, website developer and writer. 2015 - present, insurance broker. Education: Arizona State University, Bachelor of Science in Political Science. City University of Seattle, graduate studies in Public Administration. Volunteerism: 2007 - present, president of the Real Liberal Christian Church and Christian Commons Project.
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