7/19/09 Derivative Total Guaranteed By The US Keeps Growing

Precious Metals Market Analysis, By Michael Pennington (Copyright 2010 Pennco Coins)

In case you haven’t seen the OCC Quarterly Report on Bank Trading and Derivatives for 2009, I think you might be interested in seeing exactly what is being hidden off the balance sheets that most American are not aware of…..try $47 Trillion dollars of derivatives backed by the government or rotting in some toxic pool that nobody wants anyone to know about, or more important wants you to know about.
Obviously, the media keeps any bad news secret, so we have to look for ourselves. In case you’re interested in this report, it is contained in the following link:
Here is some of the basic information that you need to know:

* The notional value of derivatives held by U.S. commercial banks increased $1.6 trillion in the first quarter, or 1%, to $202.0 trillion, due to the continued migration of investment bank derivatives business into the commercial banking system.
* U.S. commercial banks generated record revenues of $9.8 billion trading cash and derivative instruments in the first quarter of 2009, compared to a $9.2 billion loss in the fourth quarter of 2008.
* Derivative contracts remain concentrated in interest rate products, which comprise 84% of total.
And the Hall of Greedy Bastards who would kill their own mothers for a sub-prime loan deal? If you’re looking to identify those who caused this entire global catastrophe, you’ll recognize the names of the absolute worst derivatives offenders:

1 JPMORGAN CHASE & CO.                    $81,108,352
3 GOLDMAN SACHS GROUP, INC.          $47,749,124
4 MORGAN STANLEY                                $39,125,255
5 CITIGROUP INC.                                      $31,715,734

The OCC states that ‘we the people’ (or the Banks, or the FED) have $ 47 trillion dollars in bad toxic  debt. These companies are ‘Addicted Gamblers’ who are ‘profoundly irresponsible. They got involved because the profit was enormous and they knew they could offload the risk to a different counterparty. ‘We the people’ became the counterparty because our elected officials chose to bail out the crooked banks that caused this problem in the first place. AND THEY ARE STILL DOING IT NOW USING TAXPAYER BAILOUT FUNDS FROM STIMULUS 1. The derivative game is still alive…nothing has changed for Gold man Sachs.
$47 trillion dollars…. Why does that sound like all the money in all the world to me………….I can tell you this, no one will ever be able to pay all this off.  While everyone suffers through this crisis, these crooks are receiving giant bonuses again in spite of the Administration’s promise to eliminate excessive Wall Street compensation. Where’s the Compensation Czar when you need one?


About Pennco Coins

Pennco Coins
This entry was posted in Buffalo, Bullion, Coin, Dollar, Eagle, Federal Reserve, Gold, Gold to Silver Ratio, Government, Investment, Maple, Mint, Palladium, Peso, Philharmonic, Platinum, Silver, Tax and tagged , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s