the next crash is now… J PMorgan Chase Total Assets: $1,947,794,000,000 (nearly 1.95 trillion dollars) Total Exposure To Derivatives: $71,289,673,000,000 (more than 71 trillion dollars) Citibank Total Assets: $1,319,359,000,000 (a bit more than 1.3 trillion dollars) Total Exposure To Derivatives: $60,398,289,000,000 (more than 60 trillion dollars) Bank Of America Total Assets: $1,429,737,000,000 (a bit more than 1.4 trillion dollars) Total Exposure To Derivatives: $42,670,269,000,000 (more than 42 trillion dollars) Goldman Sachs Total Assets: $113,064,000,000 (just a shade over 113 billion dollars – yes, you read that correctly) Total Exposure To Derivatives: $43,135,021,000,000 (more than 43 trillion dollars) Please dont just gloss over those huge numbers. Let them sink in for a moment. Goldman Sachs has total assets worth approximately 113 billion dollars (billion with a little b), but they have more than 43 TRILLON dollars of total exposure to derivatives. That means that the total exposure that Goldman Sachs has to derivatives contracts is more than 381 times greater than their total assets. Most Americans do not understand that Wall Street has been transformed into the largest casino in the history of the world. The big banks are being incredibly reckless with our money, and if they fail it will bring down the entire economy. The biggest chunk of these derivatives contracts that Wall Street banks are gambling on is made up of interest rate derivatives. According to the Bank for International Settlements, the global financial system has a total of 441 TRILLION dollars worth of exposure to interest rate derivatives.
Posted on: Sat, 22 Feb 2014 00:09:54 +0000
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