The Latest Currency Trading and Our Broken Economy
An article at breitbart.com — which accompanies an interview between George Gilder with Breitbart News Daily — examines the role that currency trading has played in the downward spiral of the U.S. economy, and the popular trend toward socialist solutions:
“Gilder agreed that the average American understands that the system is broken and credited that understanding with the rise of the current populist revolt, most likely including the rise of Donald Trump as a Republican presidential contender. He cited currency trading as a key problem underlying the issue.
In a few days the Bureau of International Settlements is going to estimate the total amount of currency trading. The last time they did it three years ago and currency trading came out twenty-six times bigger than all GDPs in the world, seventy-three times as big as trade in all goods and services in the world and hundreds of times bigger than all trade in the stock markets – $5.4 trillion a day in currency trading and out of it, we don’t even get a measuring stick that can accurately value currencies. … Ten banks do 77% of all this trading and they can make money out of it but we don’t even get a measuring stick to gauge our savings, or expand our investments, or evaluate our opportunities.
Gilder’s concern is that the above system would turn America toward socialism.”