A Tipping Point In The Financial System
By GE Christenson
Thursday, 4 April 2013
March and April 2013 may go down in history as the tipping point for the western financial system.
We have already seen:
Lehman Brothers and many other financial firms collapse.
$700 Billion in TARP funds arranged by banking insiders for banking insiders at the expense of US taxpayers.
Over $16 Trillion in bailouts, guarantees, swaps, and loans created by the Fed and given to various banks, nations, and other insiders.
MFGlobal took “segregated” customer funds, the exchange provided no compensation to customers, and yet no criminal indictments have been issued.
Global derivatives total $700 Trillion to well over $1,000 Trillion, depending on who is counting. Some are “toxic waste.”
Many European bailouts and “fixes.”
Spain, Italy, Slovenia, and perhaps France in trouble.
US official debt approaching $17 Trillion with unfunded liabilities many times larger.
The Federal Reserve creating $85 Billion per month (over $115,000,000 per hour) to support banks and the US government.