The Global Economic Collapse Is Happening As You Read These Words
by Dave Hodges
TheCommonSenseShow.com
30 Dec, 2015
The entire wealth of the planet is estimated to be around $65-7o trillion dollars. Any debt that exceeds that amount should be considered to be a catalyst for global economic collapse and ultimately World War III along with the emergence of extreme authoritarian government similar to what the world witnessed prior to World War II.
Nations who are trying to save themselves from the abyss of economic collapse will seek to plunder the resources of other nations and when these predatory behaviors grow in number, global conflict will breakout. We are already seeing evidence of this in Ukraine (i.e. control of Eurasia’s gas) and in Syria and Iran (i.e. control of the medium of exchange to buy oil, gold vs. the dollar).
In 2011, Bloomberg reported that Bank of America shifted about $22 trillion worth of derivative obligations from Merrill Lynch and the Bank of America Corporation holding company to the FDIC insured retail deposit division. Along with this information came the revelation that the FDIC insured unit was already stuffed with $53 trillion worth of these potentially toxic obligations, making a total of $75 trillion dollars in debt from the toxic holdings of only one bank. In other words, the United States taxpayer owes Bank of America $75 trillion dollars when, not if, the credit swap derivatives market collapses. REMEMBER: ANY DEBT THAT EXCEEDS $70 TRILLION DOLLARS SHOULD BE CONSIDERED TO BE THE CATALYST FOR A GLOBAL ECONOMIC COLLAPSE.
Although this event was prominently reported in Bloomberg, it was not reported on Fox and CNN and the other corporate news entities. Further, the implications of this nation-busting act were never explained to the American people. So, the ignorant American people continue to entrust their life savings to entities who are planning to steal these assets.
Implications
Derivatives are highly flammable financial instruments that are used to insure the banks against risk. The main purpose of a derivative lies in the fact that they are used for speculation (i.e. gambling). The derivatives market comprises the modern day version of the big gaming casino on Wall Street!
Credit swap derivatives are bets made upon the future value of stocks, bonds, mortgages, other loans, currencies, commodities, volatility of financial indexes, and even weather changes. It is a case of the Las Vegas Strip coming to Wall Street. The banksters are playing with house money. Only in this case, the house money is the good faith and credit of the American taxpayer.
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