Wall Street, aka United States, Pulls Off Another Destructive Coup…(Must Read!)

Monday, December 15, 2014
By Paul Martin

By Michael Noonan
GoldCore.com
Monday, 15 December 2014

The clichéd definition of insanity is doing the same thing over and over and expecting different results.

There is no room for sanity in the United States, anymore, and the public is sleepwalking through it all. Arguably, this has been carefully orchestrated by the elites over the past century, as in 100 years and not just in the past decade or so. Capitalism is dead in the US, and has been for decades. Ironically, China and Russia are far more capitalistic. Once the elites took over the money supply, with the passage of the Federal Reserve Act in 1913, there was a concerted effort to take over all media and start a propaganda scheme that is far superior than any other country in effective population control.

What did Wall Street just do? It guaranteed that any losses from all derivatives that arise within the bankrupt banking system will be passed onto the taxpaying serfs called United States citizens. When Congress just passed its bill allowing the [bankrupt] government to keep spending with abandon, attached to the bill was a portion written by Citicorp that allows financial institutions [read that as Wall Street banks] to trade in certain derivatives that are insured by the FDIC. What it means is that taxpayers will be responsible for all losses resulting from theses derivative contracts.

The US debt is now at $16+ trillion dollars, thanks to “I-will-cut-the-deficit-in-half-if-you-elect-me Obama.” Trillion dollar deficits were unheard of before Obama was elected. What is the potential loss exposure by these bank’s derivative gamblings? $300+ trillion. The banker-caused crash of 2008/09 was nothing when compared to what will happen when these risky derivative deals fall apart, as they will. With losses socialized, there is no incentive for bankers to be careful in crafting their derivative deals that are created solely for the purpose of generating huge fees for them. If a deal happens to work out, it will have been by accident.

How much insurance is there within the FDIC [Federal Deposit Insurance Corp]? About $25 billion: $25,000,000,000.

How much in deposits are there in US commercial banks? About $9,300+ billion: $9,300,000,000,000.

One more time: what is the derivative risk exposure now written into law” $300+ trillion: $300,000,000,000,000.

When the banks lose on their derivatives, and after allowing for $25 billion in FDIC insurance, the public now is on the hook for the remaining $299,975,000,000,000. This makes the current deficit of $16 trillion look more like petty cash.

Where is the public outrage over this? The short answer: There is none.

The Rest…HERE

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