IF THE QUADRILLION DOLLAR DERIVATIVES BUBBLE POPS… WHO GETS THE BILL? “IF” IT POPS? “IF?” TRY “WHEN” IT POPS! EXPERTS SAY THE NEXT CRASH WILL AFFECT $800 TRILLION IN ASSETS! I’m not even sure if that much money exists on the planet. If it does, that has to be just about every penny. See how big a problem is brewing here? in my post titled: NEW LAW WOULD MAKE THE TAXPAYERS POTENTIALLY LIABLE FOR TRILLIONS IN DERIVATIVES LOSSES, the author states: “If the quadrillion dollar derivatives bubble implodes, who should be stuck with the bill? Well, if the “too big to fail” banks have their way it will be you and I. Right now, lobbyists for the big Wall Street banks are pushing really hard to include an extremely insidious provision in a bill that would keep the federal government funded past the upcoming December 11th deadline. This provision would allow these big banks to trade derivatives through subsidiaries that are federally insured by the FDIC. What this would mean is that the big banks would be able to continue their incredibly reckless derivatives trading without having to worry about the downside. If they win on their bets, the big banks would keep all of the profits. If they lose on their bets, the federal government would come in and bail them out using taxpayer money. In other words, it would essentially be a “heads I win, tails you lose” proposition.” The Common Sense Show Reports: Half the country is on welfare assistance of some sort. Seventy million Americans receive some kind of federal assistance in obtaining food. The United States is one disaster from total anarchy. The disaster is likely to result from an economic collapse. Please consider these numbers: THE MATH DOES NOT LIE! Read on...
Posted on: Fri, 23 Jan 2015 20:03:01 +0000
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