The Gigantic Casino

Published on LeftWordBooks (bookshop in Delhi, India), by the book-seller, on 2009.

… Ten years before the financial crisis broke out in late 2008, Fidel Castro had said: “There has been an accelerated and unbelievable growth in so-called hedge funds and the derivatives market. It is an additional system of speculative gambling, where the players bet anything and everything, based on sophisticated risk calculations generated by computers, high-level programmers and economic experts.

They exploit insecurity and use the money in the banks’ savings accounts. They have practically no restrictions, make huge profits and can provoke disasters.

“The fact that the current economic order is unsustainable is evidenced by the very vulnerability and weakness of the system, which has turned the planet into a gigantic casino, and turned millions of citizens and sometimes even entire societies into gamblers, adulterating the function of money and of investments, given that they pursue neither the production nor the growth of the world’s wealth, but rather a means to make money with money. Such a deformation will inevitably lead the world economy towards disaster.”

Every word uttered by Fidel Castro came true … (full text).

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