OK, I saw this and that was it. This is all you need to see today. I hope this gets into your head - A picture tells several hundred trillion words (or more) -
"A month ago we presented the latest derivatives update from the OCC, according to which the Top 5 US banks held 95.7%, or $221 trillion of the entire US derivative universe (which in turn is just a modest portion of the entire $707 trillion in global derivatives as of June 30, 2011). And while the numbers of all this credit money, because that's what it is, and the variation margin associated with all these trillions in bets is all too real, appeared impressive on paper, they did not do this story enough service. So to present, visually this time, the US derivatives problem, we go to our friends from Demonocracy, who put the $229 trillion derivative 'issue' in its proper context. For those curious what a paper equivalent of bailing out the US derivatives market would look like, now you know." The Mother Of All Infographics: Visualizing America's Derivatives Universe | ZeroHedge
Click on this link for the best view - Click it!
Derivatives - The Unregulated Global Casino for Banks
You do realize for the system to keep going this must expand, right? I said EXPAND. And when the TBTF's go under cause of this mess are you going to be ready to bail them out? Do you think we can bail them out? Do you know what's going to happen to your deposits at these institutions (think O-MGF). And now you know thy when I speak of global total financial collapse you get the picture (literally).
Now do you know why since I began blogging that one of the few predictions I have left that has not come to pass, the one to total global default, is still alive and well? Now do you know why your government does not mind spending to infinity? Now do you know why they can not stop spending to infinity? Now do you know why they CAN NOT regulate anything? Now do you know why the banksters have the world by the balls? Now do you know why they are clamping down on security measures everywhere and destroying the constitution?
Sweet dreams dear reader. This is not a nightmare. It is real and it scares the hell out of me and should do the same to you. And some think we will not resemble Argentina one day or worse. HA! Reality check time.
Now, how did we get into this mess in the first place? Where did regulation stop and the wild west begin? Well with the greatest liberal democratic president of all time of course - watch this if you have not seen it - oh and look for the key players of today in this film from the 1990's. Mind blowing stuff.
The Warning | FRONTLINE | PBS
GL and GB! (you are gonna need it)