
End of New World Order HERE?
The money mandarins have put us all at risk:
Rank | Derivatives | Bank Name |
1 | $55,387,209,000,000 | JPMorgan Chase Bank |
2 | $51,794,949,000,000 | Goldman Sachs Bank USA |
3 | $46,562,329,000,000 | Citibank |
4 | $22,087,831,000,000 | Bank of America |
5 | $12,191,517,000,000 | Wells Fargo Bank |
6 | $2,132,802,000,000 | State Street Bank and Trust Company |
7 | $1,516,559,899,000 | HSBC Bank USA |
8 | $1,174,293,000,000 | The Bank of New York Mellon |
That’s over $192 trillion in derivative exposure that we know about, and just for the top eight banks! Not included in this are the other U.S. banks’ exposure, nor any exposure to the almost $40 trillion of European bank derivatives. Perhaps this is why shares of Credit Suisse are down near $3 a share.
If you have your money in a bank, you should be thinking of Will Rogers, who famously said, “I’m not so much interested in the return on my money as I am in the return of my money.”
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