The Unofficial Euro collapse has hastened the hemorrahging of various sectors around the financial world. Lets start with a few shall we.
Derivatives- I have documented that the real loss of JPM's previous London trade debacle is not the purported intial $2billion or the now admitted $9 billion but $150 billion total loss. This coming from a Zombie Bank that recieves 77% of its profits from the government trough. The IR Swaps that are played in this field is astronomical and is accounting for more than 85% of all derivative trades. So what does this mean? I stated many times, when people have asked me, "what is THE SIGN of a financial collapse?" I have always said that it will begin in the derivative market first. After all we have an unsustainable world wide derivative debt that is in the Quadrillions. $1.4 Quadrillion by most estimates. What does this mean and how will it play out? (more)