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Hidden financial system
I shall wear the creditors’ loathing with pride. ~~~ Yanis Varoufakis, Greece’s former finance minister
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New Law Would Make Taxpayers Potentially Liable For TRILLIONS In Derivatives Losses

New Law Would Make Taxpayers Potentially Liable For TRILLIONS In Derivatives Losses | Hidden financial system | Scoop.it

 

If the quadrillion dollar derivatives bubble implodes, who should be stuck with the bill?  Well, if the “too big to fail” banks have their way it will be you and I. 

 

Right now, lobbyists for the big Wall Street banks are pushing really hard to include an extremely insidious provision in a bill that would keep the federal government funded past the upcoming December 11th deadline. 

 

This provision would allow these big banks to trade derivatives through subsidiaries that are federally insured by the FDIC.  What this would mean is that the big banks would be able to continue their incredibly reckless derivatives trading without having to worry about the downside. 

 

If they win on their bets, the big banks would keep all of the profits.  If they lose on their bets, the federal government would come in and bail them out using taxpayer money.  In other words, it would essentially be a “heads I win, tails you lose” proposition.

 

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IS THE HIDDEN SYSTEM OF FINANCE BEGINNING TO SHOW...? BUT IF SO, WHAT IS IT SHOWING?

IS THE HIDDEN SYSTEM OF FINANCE BEGINNING TO SHOW...? BUT IF SO, WHAT IS IT SHOWING? | Hidden financial system | Scoop.it
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Presidential Meeting Signals Catastrophic Event: "There Is a Crisis Unfolding Somewhere in the Background"

Presidential Meeting Signals Catastrophic Event: "There Is a Crisis Unfolding Somewhere in the Background" | Hidden financial system | Scoop.it

 

But clearly if the President is having this meeting, there is a crisis unfolding somewhere in the background, and it could very well relate to the dollar, interest rates, and the massive derivatives market associated with interest rates…


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The Complete History Of JPMorgan's "Monstrous" Derivative Risks And Abuses - The Full Senate Report

The Complete History Of JPMorgan's "Monstrous" Derivative Risks And Abuses - The Full Senate Report | Hidden financial system | Scoop.it

Finally, we are happy that our small contribution to exposing the catastrophic JPM TBTF prop trading behavior made its way into the report [ ]

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From value of goods & services to volume of foreign currency transactions

From value of goods & services to volume of foreign currency transactions | Hidden financial system | Scoop.it

Via Christophe CESETTI
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A Cartel of Big Banks Is Hurting the World Economy By Manipulating Derivatives

A Cartel of Big Banks Is Hurting the World Economy By Manipulating Derivatives | Hidden financial system | Scoop.it

Collectively, these institutions have the ability and incentive, if not counteracted by policy intervention, to delay, distort or impede clearing, exchange trading and transparency…

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Derivatives - The Unregulated Global Casino for Banks

Derivatives - The Unregulated Global Casino for Banks | Hidden financial system | Scoop.it

Visualized: Bank's massive profits on derivatives. When the bubble bursts most likely the tax payer will end up with the bill.

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Judi's comment, April 21, 2012 3:56 AM
This is mind boggling!
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Plummeting Oil Prices Could Destroy The Banks That Are Holding Trillions In Commodity Derivatives

Plummeting Oil Prices Could Destroy The Banks That Are Holding Trillions In Commodity Derivatives | Hidden financial system | Scoop.it

 

Could rapidly falling oil prices trigger a nightmare scenario for the commodity derivatives market?  The big Wall Street banks did not expect plunging home prices to cause a mortgage-backed securities implosion back in 2008, and their models did not anticipate a decline in the price of oil by more than 40 dollars in less than six months this time either.  If the price of oil stays at this level or goes down even more, someone out there is going to have to absorb some absolutely massive losses.

 

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The Biggest Price-Fixing Scandal Ever

The Biggest Price-Fixing Scandal Ever | Hidden financial system | Scoop.it

The Illuminati were amateurs. The second huge financial scandal of the year reveals the real international conspiracy: There's no price the big banks can't fix.

 

"It's a double conspiracy," says an amazed Michael Greenberger, a former director of the trading and markets division at the Commodity Futures Trading Commission and now a professor at the University of Maryland. "It's the height of criminality.



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A Modern Scandal Rocks the World's Oldest Bank

A Modern Scandal Rocks the World's Oldest Bank | Hidden financial system | Scoop.it

Bloomberg News reported on Jan. 17 that Monte dei Paschi used a secret derivative contract with Deutsche Bank (DB) in 2008 to conceal a €367 million ($488 million) loss on prior swaps with the German bank.

The transaction, which was not disclosed to the government or to the bank’s shareholders, took place shortly before the bank started requesting billions in taxpayer bailouts.

 

Monte dei Paschi has acknowledged doing similar swaps with Nomura Holdings in 2009 and with an unidentified third bank. In each case, the bank appears to have replaced loss-making derivative contracts with even riskier ones, leading to still more losses and ultimately to more government aid. Losses from the transactions totaled about €720 million ($959 million),


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1000x Systemic Leverage: $600 Trillion In Gross Derivatives "Backed" By $600 Billion In Collateral

1000x Systemic Leverage: $600 Trillion In Gross Derivatives "Backed" By $600 Billion In Collateral | Hidden financial system | Scoop.it

Because if and when they do, the entire world, which has now become one defacto AIG Financial Products subsidiary, and is spewing derivatives left and right, may have to scramble just a bit to procure some of this $599 trillion in actual collateral, once collateral chains start breaking, once "AAA-rated" counterparties (such as AIG had been days before its bailout) start falling, and once the question arises: just what is the true value of hard assets in a world in which the only value created by financial innovation is layering of derivatives upon derivatives, serving merely to prod banker bonuses to all time highs.

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Estimates Size of the Global Derivatives Market at $1,200 Trillion Dollars … 20 Times Larger than the Global Economy

Estimates Size of the Global Derivatives Market at $1,200 Trillion Dollars … 20 Times Larger than the Global Economy | Hidden financial system | Scoop.it

A Clear and Present Danger to the World Economy

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