This writing is devoted to what the blogosphere is saying about the derivative situation unfolding since May 11, when JP Morgan announced a $2 billion loss. I offer no advice, merely information for your review.
Directly below is a quote pulled out of “Global Research.ca” that sums up the point in time we find ourselves within. The first two youtube links will help explain the financial danger we are facing. The first one sums things up pretty quickly in a 3:51 video. The other one is longer and sounds more urgent. If you don’t understand “derivatives”, I suggest you read this: (http://en.wikipedia.org/wiki/Derivative_%28finance%29), but essentially it is a financial gamble on a future price of a commodity (wheat, corn, gold, oil, currencies, etc). The problem now is that the US government has allowed the “too big to fail” banks to push these derivatives into taxpayer secured protection (FDIC). Since these bankster’s know they are too big to fail, they gamble free-willingly all backed by US Taxpayers.
Below the youtube links is a story about how the JPMorgan CEO personally approved the derivative “trade” that initially lost $2,000,000,000.00 (that’s billion), but experts no say it will be much larger. These videos all say that this is the tip of the iceberg and that paper money is about to lose all its value. This will lead to bank holidays (you can’t get to your money and when you do, it is possibly valueless). Their recommendation is to get your money into something more solid.
If you read the mainstream media on this stuff, they don’t go into any detail on what happened and what is about to happen. Instead we have Reuters posting a lead article titled “Obama pledges tough enforcement of Wall Street reforms “…… sure makes me more comfortable knowing this……..
“Word on the Street is that J.P. Morgan’s exposure is so large that it can’t dump these bad bets without affecting the market and losing even more money. And given its mammoth size and interlinked connections with every other financial institution, anything that shakes J.P. Morgan is likely to rock the rest of the Street.” http://www.globalresearch.ca/index.php?context=va&aid=30884
Financial Armageddon is Coming
Lindsey Williams Urgent Update: Derivatives Market On the Verge Of Collapse
BOMBSHELL REPORT: Jamie Dimon Personally Approved The Concept Of The Disastrous Trade, Losses Could Total $5 Billion