Omens of a Derivatives Meltdown (Part 1)
Posted 10 July 2014
Part 1 of this series explains the colossal size of the derivatives market and the heads-Wall Street-wins / tails-Main Street-loses nature of this painstakingly rigged casino.
Do you think derivatives are unregulated? They are–until a series of bets goes bad and starts toppling a bank, at which point rules materialize out of nowhere and meticulously provide for the looting of your checking and savings accounts to pay off the bad bets made by your bank.
When (not if) the derivatives chain of dominoes starts to teeter, it’s going to be Open Season on your bank accounts. Say, what interest rate is your bank paying you to take on such a huge risk, anyhow?
Dave Kranzler explains with the help of co-producer John Titus.
RELATED:
https://ronmamita.wordpress.com/2014/05/27/shocking-truth-the-history-channel-cant-broadcast/
https://ronmamita.wordpress.com/2014/05/28/former-ecb-board-member-calls-world-financial-system-pure-fiction/
https://ronmamita.wordpress.com/2014/05/28/collapsing-monetary-system-and-institutional-trust-is-nowhere-to-be-found/
https://ronmamita.wordpress.com/2014/05/27/the-important-distinction/
https://ronmamita.wordpress.com/2014/07/06/armstrong-economics-predicts-series-of-crisis-leading-to-collapse/
https://ronmamita.wordpress.com/2014/07/08/suspicious-observers-eyeing-the-markets-for-major-events/
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Stock Market Madness
Posted 14 July 2014
The central banks will pump up the stock markets but will never accept the blame when their bubble pops!
Equaled Only By government’s Madness
Perpetual Waste
Posted 20 July 2014
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Genius: IMF pronounces Bulgaria’s banks safe just two weeks before bank run
http://www.sovereignman.com/trends/genius-imf-pronounces-bulgarias-banks-safe-just-two-weeks-before-bank-run-14679/
Posted 10 July 2014
Reported on the IMF foolish statements and deceptions.
Earlier this summer, IMF bureaucrats went to Sofia, Bulgaria to study the country’s economic progress.
And roughly a month ago, they released an official report which stated, among other things, that Bulgarian banks are “stable and liquid.”
Talk about epic timing. Because less than two weeks later, Bulgaria’s banking system was in the throes of a full-blown crisis.
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Wild Virus at the IRS is Killing Computers
By Michael Becker 22 July 2014
Where are the Centers for Disease Control and their QUARANTINE! tape when you need them the most. The reason? Well, there’s a wild virus afoot at the IRS and it’s killing off computers at an unprecedented rate.
First, it was Lois Lerner’s computer. Then it was the IRS’ email servers. Then it was the email backup tapes.
And today!! Well, it’s still running rampant.
There may be 20 or less computers involved in the crashes, but they all seem to be connected to Lois Lerner’s email chain.
It appears that the IRS thinks there’s not much to be concerned about since there are less than 20 “crash victims.” Actually, we’d take umbrage at that declaration. There may be less than 20 computers that have been corrupted, but there are well over 300,000,000 victims. That’s three hundred million. As in the entire population of legal US citizens not currently employed by the IRS.
Let’s be real clear. If you owned a business and a unit of the Federal Government was investigating your business and you told them that you only kept your email backup tapes for six months, you’d to to jail. As in as close to “instantly” as you can imagine. The IRS will, of course, get a pass.
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JPMorgan Deaths A Warning Sign?
Posted 15 July 2014
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IRS seeks help destroying another 3,200 hard drives
http://www.washingtontimes.com/news/2014/jul/21/irs-seeks-help-destroying-another-3200-computer-ha/
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Another Dead Banker – Goldman Sachs this time
Posted 22 July 2014
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Huge Fines on Banks Moving Capital
Posted by Martin Armstrong 16 July 2014
All of these huge fines that have exceeded $250 BILLION have the big capital very worried and starting to scramble with respect how to protect their assets. The whole craziness of the banking fines is that there is no limit. It is not like if you go through a red light the fine is $250. Here we have governments handing out fines with whatever they think they can get away with.
Banks in Switzerland have become really unsalable. Other banks are strip mining buying assets but not the entities because nobody can guess what a fine might be. If you bought a bank for $10 million and the USA claims there use to be a client who didn’t pay taxes, they then fine the bank $1 billion. Nobody can even buy a bank anymore for there is no possible way to even gauge the liability.
The impact this is having is interesting. We are starting to see more and more capital moving into equities fearing even these fines may be destabilizing the banking system. Then we have the USA arrogance of fining European banks simply because they did a deal in dollars. This is insane and is unsupported by international law. Only if a transaction takes place within the territory of the United States is there any jurisdiction. But the process of appealing will take years and a gamble since the courts are not honest in the USA. The solution, book transactions in some other currency. This is settling the stage for dramatic currency reform in the years ahead.
Source: http://armstrongeconomics.com/2014/07/16/huge-fines-on-banks-moving-capital/
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