$707,568,901,000,000: How (And Why) Banks Increased Total Outstanding Derivatives By A Record $107 Trillion In Six Months
‘While everyone was focused on the impending European collapse, the latest soon to be refuted rumors of a quick fix from the Welt am Sonntag notwithstanding, the Bank of International Settlements reported a number that quietly slipped through the cracks of the broader media.
Which is paradoxical because it is the biggest ever reported in the financial world: the number in question is $707,568,901,000,000 and represents the latest total amount of all notional Over The Counter (read unregulated) outstanding derivatives reported by the world’s financial institutions to the BIS for its semi-annual OTC derivatives report titled “OTC derivatives market activity in the first half of 2011.” Indicatively, global GDP is about $63 trillion if one can trust any numbers released by modern governments. Said otherwise, for the six month period ended June 30, 2011, the total number of outstanding derivatives surged past the previous all time high of $673 trillion from June 2008, and is now firmly in 7-handle territory: the synthetic credit bubble has now been blown to a new all time high.
Another way of looking at the data is that one of the key contributors to global growth and prosperity in the past 10 years was an increase in total derivatives from just under $100 trillion to $708 trillion in exactly one decade. And soon we have to pay the mean reversion price.’
IMF Drawing Up £500bn Package to Save Italy, Spain and the Euro
‘Reports in Italy suggested that the IMF is drawing up plans for a €600 billion (£517 billion) assistance package for the country. Spain may be offered access to IMF credit, rather than a rescue package, to avoid it being “picked off” by the markets in the coming weeks.
Any IMF involvement in European rescue packages would be partly underwritten by British taxpayers, which could leave this country liable if Italy and Spain did not repay any international loan.
Britain provides 4.5 per cent of the IMF’s funding and would, therefore, face a potential liability to an Italian package of up to €27 billion (£23 billion).’
Nigel Farage: EU Dictatorship Dominated by Germany Replaces Elected Leaders
Death of a Currency as Eurogeddon Approaches
‘The defining moment was the fiasco over Wednesday’s bund auction, reinforced on Thursday by the spectacle of German sovereign bond yields rising above those of the UK.
If you are tempted to think this another vote of confidence by international investors in the UK, don’t. It’s actually got virtually nothing to do with us. Nor in truth does it have much to do with the idea that Germany will eventually get saddled with liability for periphery nation debts, thereby undermining its own creditworthiness.
No, what this is about is the markets starting to bet on what was previously a minority view – a complete collapse, or break-up, of the euro.’
The Illuminati Hoodwink Extravaganza
‘The rich and powerful can lie, cheat and steal….but we can’t. The elites can carry out multi-billion dollar covert programs directed toward their own devious ends….but we can’t even pay our bills. The rich can take private jets and bypass the insane invasive security grid…..but we get mugged and irradiated.
You think people really notice these things? When will the world realize how hoodwinked it is?
The police can be openly armed and in confrontational battle gear and beat people bloody…..but the unarmed civilian public gets assaulted and arrested for peacefully demonstrating for simple freedoms. The military can bomb, strafe and murder without even political never mind public consensus…..yet you can’t sport a Ron Paul sticker without being suspected as a domestic terrorist.
How about those ‘richies’ flying about in their jets and having heavy duty energy consuming homes and lifestyles while complaining about global warming? Notice a trend here?’
Will Global Financial Demolition Lead To New World Order?
‘The financial elite are laughing for they are well aware of the ongoing planned global financial demolition as well as the rapidly emerging New World order ~ with the Global elite firmly in control. However, there is another choice but it will take the same courage the people of Iceland took in reclaiming their country from the robber barons.
The next step in the Occupy Wall Street movement, after establishing its presence and credibility, is to fully expose the enemy, the global financial elite, as well as their ongoing global financial demolition plans which will eventually lead to a New World Order ~ unless the people reclaim their power as they did in Iceland.
Make no mistake ~ this is a planned demolition not unlike Building 7 as well as the two Trade Center towers on 9/11.’
The Illuminati Choice for 2012
‘For now, though, it’s all Newt Gingrich. He has been ultra-loyal both to the Jewish money men and to the secretive Vatican group Opus Dei, another group of money men. A fanatical Israel supporter, Gingrich is continually pimping for more wars and death in the Middle East. He supported the Bush torture and gulags and can be counted on to siphon trillions from the U.S. Treasury into the coffers of Wall Street’s Jewish bankers and ponzi scheme artists.
To prepare Gingrich for his role as Rothschild front man in 2012, Newt recently “converted” to Catholicism. In February, 2010, some 500 Catholic millionaires, initiates of the Opus Dei affiliate Legatus, met in Dana Point, California to honor Gingrich and former President and Jew-Catholic loyalist George W. Bush. Gingrich was lauded by the group for his conversion and even gave his “Christian testimony” regarding his leaving the Southern Baptist denomination to become a convert to “Holy Mother Church.” His new wife—his third—was on hand.’