Organized crime: The 'looting' of $11 trillion from the U.S. economy

Organized crime: The 'looting' of $11 trillion from the U.S. economy

The following is based on a report by Cliff Kincaid for Accuracy in Media.

The New York Times is quoting a spokesman for George Soros as saying that the well-known hedge fund operator is guilty of no wrong-doing in connection with the financial upheaval currently affecting Greece and Europe as a whole.

But Zubi Diamond, author of the powerful new book, Wizards of Wall Street, says the agenda of Soros and other short sellers is clear. Their purpose, he says, is “to loot America and any foreign country which invested in America. Greece was one of them. Iceland was ravaged and annihilated.” ShareThis

Diamond, with 14 years of experience in the financial markets, calls his book a course in “Economic crisis 101” because of the need to inform ordinary Americans of what is happening right before their eyes. The book is easy to read, although it deals with complex financial regulations and operations, and is only 118 pages. The theme is that the economic crisis was deliberately engineered for profit and political gain and has already resulted in the “looting” of $11 trillion from the U.S. economy.

The term “short selling” in this context refers to investors, speculators and currency manipulators who bet on the decline or collapse of a stock or currency through complex financial instruments handled mostly through secret off-shore accounts. For the hedge fund short sellers to make money, prices have to go down.

Short sellers, who are appearing at a March 11 event at the libertarian Cato Institute, insist that they “provide liquidity and transparency to our capital markets” and that their operations “expose corporate fraud and mismanagement.”

Organized crime: The 'looting' of $11 trillion from the U.S. economy