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<DIV>Please read: “13 Bankers” Simon Johnson/ “Freefall” Joseph Stiglitz /
“Reckless Endangerment” /Gretchen Morgenson /“Econned” Yves Smith and
“Griftopia” Matt Taibbi ..for starters. Don’t you remember TARP??? People wanted
to let the banks fail. Congress/Treasury/FED insisted on the
bailout.</DIV>
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<DIV style="font-color: black"><B>From:</B> <A title=dante.monson@gmail.com
href="mailto:dante.monson@gmail.com">Dante-Gabryell Monson</A> </DIV>
<DIV><B>Sent:</B> Saturday, November 26, 2011 4:55 AM</DIV>
<DIV><B>To:</B> <A title=econowmix@googlegroups.com
href="mailto:econowmix@googlegroups.com">econowmix@googlegroups.com</A> ; <A
title=p2p-foundation@lists.ourproject.org
href="mailto:p2p-foundation@lists.ourproject.org">p2p-foundation</A> </DIV>
<DIV><B>Subject:</B> [P2P-F] Not enough money to bail speculative world economy
out ? - $235 trillion of OTC derivative leverage by just 4 US
Banks</DIV></DIV></DIV>
<DIV> </DIV></DIV>
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style="FONT-STYLE: normal; DISPLAY: inline; FONT-FAMILY: 'Calibri'; COLOR: #000000; FONT-SIZE: small; FONT-WEIGHT: normal; TEXT-DECORATION: none">
<DIV>Perhaps someone else can help verify such figures :</DIV>
<DIV> </DIV>
<DIV>If we need to fill the gap for <B>12 thousand trillion in debt
derivatives</B>,</DIV>
<DIV>that would represent</DIV>
<DIV><B>1'714'286 dollars per person on this planet ... !?</B></DIV>
<DIV>( <I>one million seven hundred thousand dollars per person on this
planet</I> - considering seven billion people )</DIV>
<DIV> </DIV>
<DIV>How much of these debt derivatives have gone bad ?</DIV>
<DIV>Why not let the banks go bankrupt, after they created so much leveraged
derivative debt to make profits with ?</DIV>
<DIV>Why do we try to bail them out with tax payers money ?</DIV>
<DIV>Is this a way to get everyone bankrupt... to the financial institutions? (
while they are the ones that are initially bankrupt ? )</DIV>
<DIV> </DIV>
<DIV><B>Who has some kind of count on real figures ?</B></DIV>
<DIV>( excerpted some figures below )</DIV>
<DIV> </DIV>
<DIV>//</DIV>
<DIV> </DIV>
<DIV>If so much money gets printed out as to bail out / "recapitalize" the
banks,</DIV>
<DIV>what is the effect on the value of money ? Are these currencies being
debased ? ( see comparison between worth of dollar or euro Vs swiss frank or
gold ? ) </DIV>
<DIV>Is this part of currency wars ?</DIV>
<DIV><A
href="http://en.wikipedia.org/wiki/Currency_war">http://en.wikipedia.org/wiki/Currency_war</A></DIV>
<DIV> </DIV>
<DIV>What is the parallel with the pre-second world war period ? ( hyper
inflation potential ? depression ? ... )</DIV>
<DIV> </DIV>///
<DIV> </DIV>
<DIV><A
href="http://usawatchdog.com/four-biggest-banks-in-america-have-huge-leverage/">http://usawatchdog.com/four-biggest-banks-in-america-have-huge-leverage/</A></DIV>
<DIV> </DIV>
<DIV>excerpts :<BR>
<DIV> </DIV>
<DIV><SPAN
style="LINE-HEIGHT: 21px; BACKGROUND-COLOR: rgb(255,255,255); FONT-FAMILY: arial, helvetica; COLOR: rgb(51,51,51); FONT-SIZE: 12px"
class=Apple-style-span>According to the latest report from the Comptroller of
the Currency, </SPAN><BR>
<DIV>
<P
style="PADDING-BOTTOM: 0px; LINE-HEIGHT: 21px; BACKGROUND-COLOR: rgb(255,255,255); MARGIN: 0px 0px 15px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-FAMILY: arial, helvetica; COLOR: rgb(51,51,51); FONT-SIZE: 12px; PADDING-TOP: 0px">just
four U.S. banks have an eye popping $235 trillion of OTC derivative leverage. <A
style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; COLOR: rgb(60,120,167); TEXT-DECORATION: none; PADDING-TOP: 0px"
href="http://www.occ.gov/topics/capital-markets/financial-markets/trading/derivatives/dq211.pdf"
target=_blank>(Click here for the complete Comptroller of the Currency
report.)</A> As a nation, U.S. banks have a total OTC derivative exposure
of $250 trillion. So, the fact that just four U.S. banks have this much leverage
and risk is astounding! The banks are listed below in order of size and
approximate OTC exposure:</P>
<P
style="PADDING-BOTTOM: 0px; LINE-HEIGHT: 21px; BACKGROUND-COLOR: rgb(255,255,255); MARGIN: 0px 0px 15px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-FAMILY: arial, helvetica; COLOR: rgb(51,51,51); FONT-SIZE: 12px; PADDING-TOP: 0px">1.)
JP MORGAN CHASE BANK NA OH</P>
<P
style="PADDING-BOTTOM: 0px; LINE-HEIGHT: 21px; BACKGROUND-COLOR: rgb(255,255,255); MARGIN: 0px 0px 15px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-FAMILY: arial, helvetica; COLOR: rgb(51,51,51); FONT-SIZE: 12px; PADDING-TOP: 0px">
$78.1 trillion OTC derivatives </P>
<P
style="PADDING-BOTTOM: 0px; LINE-HEIGHT: 21px; BACKGROUND-COLOR: rgb(255,255,255); MARGIN: 0px 0px 15px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-FAMILY: arial, helvetica; COLOR: rgb(51,51,51); FONT-SIZE: 12px; PADDING-TOP: 0px">2.)
CITIBANK NATIONAL ASSN</P>
<P
style="PADDING-BOTTOM: 0px; LINE-HEIGHT: 21px; BACKGROUND-COLOR: rgb(255,255,255); MARGIN: 0px 0px 15px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-FAMILY: arial, helvetica; COLOR: rgb(51,51,51); FONT-SIZE: 12px; PADDING-TOP: 0px">
$56.1 trillion OTC derivatives</P>
<P
style="PADDING-BOTTOM: 0px; LINE-HEIGHT: 21px; BACKGROUND-COLOR: rgb(255,255,255); MARGIN: 0px 0px 15px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-FAMILY: arial, helvetica; COLOR: rgb(51,51,51); FONT-SIZE: 12px; PADDING-TOP: 0px">3.)
BANK OF AMERICA NA NC</P>
<P
style="PADDING-BOTTOM: 0px; LINE-HEIGHT: 21px; BACKGROUND-COLOR: rgb(255,255,255); MARGIN: 0px 0px 15px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-FAMILY: arial, helvetica; COLOR: rgb(51,51,51); FONT-SIZE: 12px; PADDING-TOP: 0px">
$53.15 trillion OTC derivatives</P>
<P
style="PADDING-BOTTOM: 0px; LINE-HEIGHT: 21px; BACKGROUND-COLOR: rgb(255,255,255); MARGIN: 0px 0px 15px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-FAMILY: arial, helvetica; COLOR: rgb(51,51,51); FONT-SIZE: 12px; PADDING-TOP: 0px">4.)
GOLDMAN SACHS BANK USA NY</P>
<P
style="PADDING-BOTTOM: 0px; LINE-HEIGHT: 21px; BACKGROUND-COLOR: rgb(255,255,255); MARGIN: 0px 0px 15px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-FAMILY: arial, helvetica; COLOR: rgb(51,51,51); FONT-SIZE: 12px; PADDING-TOP: 0px">
$47.7 trillion OTC derivatives</P>
<P
style="PADDING-BOTTOM: 0px; LINE-HEIGHT: 21px; BACKGROUND-COLOR: rgb(255,255,255); MARGIN: 0px 0px 15px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-FAMILY: arial, helvetica; COLOR: rgb(51,51,51); FONT-SIZE: 12px; PADDING-TOP: 0px">Considering
that the total assets of these four banks are a little more than <STRONG
style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">$5
trillion</STRONG>, I see a frightening amount of risk with a total derivative
exposure of <STRONG
style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">$235
trillion! </STRONG></P>
<P
style="PADDING-BOTTOM: 0px; LINE-HEIGHT: 21px; BACKGROUND-COLOR: rgb(255,255,255); MARGIN: 0px 0px 15px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-FAMILY: arial, helvetica; COLOR: rgb(51,51,51); FONT-SIZE: 12px; PADDING-TOP: 0px"><STRONG
style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">///</STRONG></P>
<P
style="PADDING-BOTTOM: 0px; LINE-HEIGHT: 21px; BACKGROUND-COLOR: rgb(255,255,255); MARGIN: 0px 0px 15px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-FAMILY: arial, helvetica; COLOR: rgb(51,51,51); FONT-SIZE: 12px; PADDING-TOP: 0px"><STRONG
style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">The
Bank of International Settlements pegs the total world over-the-counter (OTC)
derivative exposure at around $600 trillion, but many experts say the real
figure is more than twice that amount. <SPAN style="FONT-WEIGHT: normal"
class=Apple-style-span>No matter which figure you use, it is a gargantuan
sum. <I>OTC derivatives are an unregulated dark pool of money with no
public market. These are basically debt bets between two entities on
things such as credit risk, currencies, interest rates and commodities.
</I></SPAN></STRONG></P>
<P
style="PADDING-BOTTOM: 0px; LINE-HEIGHT: 21px; BACKGROUND-COLOR: rgb(255,255,255); MARGIN: 0px 0px 15px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-FAMILY: arial, helvetica; COLOR: rgb(51,51,51); FONT-SIZE: 12px; PADDING-TOP: 0px"><STRONG
style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px"><SPAN
style="FONT-WEIGHT: normal" class=Apple-style-span>In effect, the Federal
Reserve bailed out the world financial system. </SPAN><SPAN
style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; FONT-WEIGHT: normal; PADDING-TOP: 0px"
id=more-5960></SPAN><SPAN style="FONT-WEIGHT: normal"
class=Apple-style-span>Now, we are right back to square one facing another
financial meltdown with European banks and sovereign debt. If the Fed
spent $16 trillion, why in the heck is this problem not fixed and why isn’t the
world economy taking off like a rocket?” The simple answer is it wasn’t
enough money. </SPAN></STRONG></P>
<P
style="PADDING-BOTTOM: 0px; LINE-HEIGHT: 21px; BACKGROUND-COLOR: rgb(255,255,255); MARGIN: 0px 0px 15px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; COLOR: rgb(51,51,51); PADDING-TOP: 0px"><STRONG
style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px"><SPAN
style="FONT-WEIGHT: normal" class=Apple-style-span><FONT class=Apple-style-span
face="arial, helvetica, sans-serif">Further googling
:</FONT></SPAN></STRONG></P>
<P
style="PADDING-BOTTOM: 0px; LINE-HEIGHT: 21px; BACKGROUND-COLOR: rgb(255,255,255); MARGIN: 0px 0px 15px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; COLOR: rgb(51,51,51); PADDING-TOP: 0px"><STRONG
style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px"><FONT
class=Apple-style-span face="arial, helvetica, sans-serif"><A
href="http://www.google.be/search?gcx=w&sourceid=chrome&client=ubuntu&channel=cs&ie=UTF-8&q=235+trillion+derivatives">http://www.google.be/search?gcx=w&sourceid=chrome&client=ubuntu&channel=cs&ie=UTF-8&q=235+trillion+derivatives</A></FONT></STRONG></P>
<P
style="PADDING-BOTTOM: 0px; LINE-HEIGHT: 21px; BACKGROUND-COLOR: rgb(255,255,255); MARGIN: 0px 0px 15px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; COLOR: rgb(51,51,51); PADDING-TOP: 0px"><STRONG
style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">as
for the 16 trillion the fed spent ( revealed only after a new law enabled
auditing of the fed ? )</STRONG></P>
<P
style="PADDING-BOTTOM: 0px; LINE-HEIGHT: 21px; BACKGROUND-COLOR: rgb(255,255,255); MARGIN: 0px 0px 15px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; COLOR: rgb(51,51,51); PADDING-TOP: 0px"><STRONG
style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px"><A
href="http://www.google.be/search?gcx=w&sourceid=chrome&client=ubuntu&channel=cs&ie=UTF-8&q=16+trillion+fed">http://www.google.be/search?gcx=w&sourceid=chrome&client=ubuntu&channel=cs&ie=UTF-8&q=16+trillion+fed<BR></A></STRONG></P></DIV></DIV></DIV>
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