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mises
Joined: 05 Nov 2007
Location: retired
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Pluto
Joined: 19 Dec 2006
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 Posted: Sat Sep 12, 2009 7:18 am Post subject: |
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China and oil are the big wild-cards, that is unknown variables, of the day. I'd wager that these two variables are keeping heli-Ben and other Western central bankers up at night.
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Anyways, the fed, JPM and Maiden Lane. What the hell is going on? |
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bacasper
Joined: 26 Mar 2007
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| Posted: Sat Sep 12, 2009 7:35 am Post subject: |
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WTF???
JP Morgan has derivatives (debt) in the amount of 5-6x the GDP of the USA?!? 
WTF???
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Sat Sep 12, 2009 11:56 am Post subject: |
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| bacasper wrote: |
WTF???
JP Morgan has derivatives (debt) in the amount of 5-6x the GDP of the USA?!?
WTF???
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http://seekingalpha.com/article/151628-where-s-the-derivatives-exposure
(figures in *millions*)
1 JPMORGAN CHASE & CO. $81,108,352
2 BANK OF AMERICA CORPORATION $77,874,726
3 GOLDMAN SACHS GROUP, INC. $47,749,124
4 MORGAN STANLEY $39,125,255
5 CITIGROUP INC. $31,715,734
http://www.occ.gov/ftp/release/2009-72a.pdf
In my opinion (which I've stolen from individuals much more intelligent and informed than myself) the best way to deal with them is for congress is issue an edict rendering them all void. Let the chips fall where they may. |
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bacasper
Joined: 26 Mar 2007
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| Posted: Sun Sep 13, 2009 12:01 am Post subject: |
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| No one ever answered my question as to how much money exists in the world, or even said if it is answerable, but I am guessing that 6x US GDP is close to it. |
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