Centralbankernas centralbank, Bank of International Settlements (bis) redovisade för nu nästa ett år sedan läget vad gäller derivat markanderna de finansiella "instrument" som nu i realiteten utgör finanskrisens verkliga epicenmtrum. Så här såg det ut då:
The bis reported the total amount of outstanding derivatives has reached a practically incomprehensible $1.28 quadrillion. Yes, you read that correctly—quadrillion! And as astounding as this astronomically huge number is, the actual totals are even bigger because this number does not include derivatives related to the commodity markets (which the bis says it can’t track because values aren’t available).
När dessa instrument ex CDF, som inte har något som helst underliggande värde, väl vänder går det snabbt utför och de blir i realiteten värdelösa i en komplex sörja av hävstång, multiplikatorer och lånade pengar.
The market is increasingly dominated by industries of “investors” and hedge funds that only exist to make money through derivative speculation. And a big part of that speculating is done with borrowed money.
But when you play with borrowed money, the risk of getting burned beyond recovery increases rapidly.
According to DeMeritt, the majority of the $1.28 quadrillion in derivatives is “owned” on somewhere near 95 percent margin!
That has got to be “one of the scariest phenomena in economic history,” he says.
In case you are wondering, 95 percent margin means that for every dollar speculators have spent betting on derivatives, approximately 95 cents of that money was borrowed. For $5,000, a hedge fund speculator can control $100,000 worth of credit derivatives.
Detta i realiteten innebär att det endast behövs tämligen modesta procentuella nedgångar i en position för att inte bara totalt utplåna det egna kapitalet utan utöver detta, sitta med en förlust så obeskrivligt stor att den, just det - helt enkelt blir obeskrivbart stor.
Out of the top 10 commercial banks with derivatives (as of last September), nine are American. Of the top 25, all but five are U.S. corporations.
Och störst här är JP Morgan som sitter med drykt 50% av alla derivat.
JP Morgan Chase bank has $1.244 trillion in assets. Yet, it has a mind-boggling $91.73 trillion in derivatives contracts on its books. A person could buy the whole bank for a comparatively paltry $129 billion.
That means that if JP Morgan was exposed to just 1.3 percent of its outstanding derivative contracts, and things went wrong, it would be completely insolvent.
En artikel ni i sin helhet kan läsa som redan förra sommaren kommenterade och analyserade riskerna med situationen relaterat till derivaten. Att vi har en lång. lång väg kvar att gå innan bankerna och det finansiella system stabiliserats är klart. Alla våra politiker och finans etablisemanget vet redan att systemet är insolvent och bankrutt men innan detta kommer ut till den breda allmänhetens kännedom så vill man försöka klämma ut det sista ur skattebetalarna.
Som sagt nästan inget av dessa sk bailout går till den reala ekonomin utan istället handlar det om att slänga in pengar som skattebatalarna garanterar i offatbart stort svart ekonomisk hål. Väl där kommer pengarna aldrig tillbaka. Under tiden kan vi väl suga på den här karamellen:
That first $700 billion alone, if spent today, would be enough to purchase: Bank of America, Citigroup, JP Morgan Chase, Wells Fargo, State Street Corp, Bank of NY Mellon, US Bancorp, SunTrust Banks, Capital One Financial, pnc, Regions Financial, bb&t Corp, Fifth Third Bancorp, MetLife Financial, Goldman Sachs, Morgan Stanley and American Express—twice over. Twice over.
Tower of Babel Economy
http://www.thetrumpet.com/index.php?q=5290.3583.0.0
BIS - Highlights of international banking and financial
market activity
http://www.bis.org/publ/qtrpdf/r_qt0806b.pdf
Should Americans Prepare for a “Summer of Rage”?
There is evidence that the U.S. government thinks the possibility of widespread internal turmoil is a real possibility and is developing a military contingency plan. On Sept. 30, 2008, the Army Times reported that Army troops returning from Iraq were now being trained in America “as an on-call federal response force for natural or man-made emergencies and disasters,” and may be “called upon to help with civil unrest and crowd control.” As of the end of 2008, 20,000 troops had been earmarked for deployment within the U.S, the Washington Post reported.
http://www.thetrumpet.com/index.php?q=6097.7.0.0
The Great American Spectacle
Unfortunately, the exhibitions and circuses are only beginning, because that’s what empires become when they are going down and politicians don’t want people to know it
http://www.thetrumpet.com/index.php?q=6051.7.0.0
Bleeding America Dry
That first $700 billion alone, if spent today, would be enough to purchase: Bank of America, Citigroup, JP Morgan Chase, Wells Fargo, State Street Corp, Bank of NY Mellon, US Bancorp, SunTrust Banks, Capital One Financial, pnc, Regions Financial, bb&t Corp, Fifth Third Bancorp, MetLife Financial, Goldman Sachs, Morgan Stanley and American Express—twice over. Twice over.
http://www.thetrumpet.com/index.php?q=6016.4411.0.0
Moody’s Warns It Might Downgrade the Whole Nation
The question soon to be facing investors and foreign creditors alike is: If so many American cities, states and local governments are considered a credit risk, how much of a credit risk is the federal government? The answer to that question has big implications for interest rates, the dollar, and your standard of living
http://www.thetrumpet.com/index.php?q=6109.4508.0.0
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