- Turd Ferguson:
It’s been two weeks since we last visited with Jim Willie. In the time since, the JPM derivative fiasco has come into sharper focus and, of course, the global financial condition has continued to deteriorate. In this podcast, Jim has a forum to discuss these issues at length. Though it’s about 55 minutes long, at least 50 minutes are of Jim talking in a stream of consciousness that will keep your attention. Please make time over this 3-day weekend to listen to the podcast in its entirety. You won’t be disappointed.
- Jim Willie’s website: http://www.goldenjackass.com/ . Topics include:
- Zero percentage interest rate (ZIRP) is being enforced via interest rate swaps derivatives – JP Morgan.
- JP Morgan stopped that stock buy back and dividend payout. In earlier FedRes stress test states that they must stop stock buy back and dividend payout when losses reach US$31.5B.
- Jim Willie is of the opinion that losses are alot higher than US$31.5B.
- Manipulation of 10 yr and 30 yr bonds to depress yields.
- US$238T of interest rate swaps (financial derivatives) held by major US banks.
- Something is happening behind the scenes. Why is JP Morgan so forthright with their derivative losses this time round?
- Some mega crisis (Greece, PIIGS … Eurozone collapse) as diversionary tactic for the interest rate swaps derivatives collapse!
- Bond market meltdown.
- Derivatives collapse chain reaction has been triggered.
- ‘New sheriff in town’? They are going after gold cartel, Deutsch bank, JP Morgan …
- JP Morgan and Deutsch bank ‘holding up Twin Tower of Babel’.
- Criminal enterprise at work.
- All the western sovereign bonds are coming down!
– and many more issues!
- USTBond Tower of Babel Teeters!
by Jim Willie CB, GoldenJackass.com
A great urgent need has come for a rally to 1.5% in the TNX (10-year USTreasury yield) in order to save the IRSwaps from implosion. The Tower of Babel is teetering. A bond rally would thus render the tower wider at the base. The final losses will be in the hundreds of $billions in the next several months, eventually possibly to top the $1 trillion mark by next year. My source from Europe wrote, “An event driven chain reaction has been triggered deep inside the system, with Interest Rate Swaps at the center. This has already gone viral. They will have to trigger some mega-crises, most likely in Europe & Greece, as a diversionary tactic. They need to have something to blame things on. Once Greece implodes, so will the big French banks and likely some Italian banks. It is all so obvious and predictable.”
Look also for losses to London banks, enough to topple one or more. Hats off to Rob Kirby for correctly concluding the Interest Rate Swaps were at the center of the mega mushrooming JPM losses. It is coming to light slowly. …. The USTBond Tower of Babel is very narrow and tall, like a tower that grows higher and higher each year, subject to the heavy winds. The recent bond market volatility has acted like slamming a hedge hammer into the Babel Tower base when strong winds from Europe hit the sides. The vagaries and complexity and wreckage of the sovereign bond market have begun to topple the tower. The tower will fall, and fall in a heavily populated urban area. It is going to be the most dangerous and exciting event in modern financial history, that climaxes with the death of the USDollar and announcement of the USGovt debt default. The main tough questions are timing of events. But as usual, the sequence will be from an event schedule. It has begun, and cannot stop.
When the USTBond tower topples, it will lead to the great release upward in the Gold price. A grand Gold bull market is near. As the safety and security of the USTreasury Bond market is unmasked (an asset bubble), enduring a devastating wreck, the global funds will flock into Gold. The timing will be simultaneous with the rejection of the USDollar in trade settlement, and the end of the famed Petro-Dollar. The Gold cartel cannot stop the price rise, because they will have no physical gold. They are being raided of their gold bullion by the East, to the tune of 5000 (five thousand) metric tons since the end of February. That figure was confirmed by my source, who also claims that the major banks are short well over 20,000 metric tons after illegally grabbing the Allocated gold accounts held in their custody. Law suits are occurring in Switzerland to this effect.
- Visit http://WatchmanVideoBroadcast.com/ – Pastor Mike Hoggard concludes his in-depth study on Giants from the King James Bible by exposing that giants are the hybrid offspring of the sons of God and the daughters of men.
- See also:
Pastor Mike Hoggard: What The Bible Say About The Nephilim Giants! (Part 1)
Pastor Mike Hoggard: The Sons of God And The Nephilim Giants! (Part 2)
- Debka is a IDF military intelligence mouth piece. All the ‘news’ are simply political theatre for sheeple consumption. The Illuminist plan, IMO, is for America to distance itself from a coming attack on Iran by Zionist ’666′ Israel. The Illuminists want the Rothschild military fiefdom, the Satanic counterfeit flying a Satanic ’666′ Hexagram flag, to do the dirty work. They want to use Zionist ’666′ Israel to start the Satanic World War 3.
- They want to employ the Zionist state with its 400+ nuclear bombs to destroy the Muslim world and in the process destroys itself! The major powers want to fight this coming Greater Middle East war: Zionist ’666′ Israel vs Muslim world, via their proxies. They will not get directly involved in the fighting at least in the initial stages. They will supply their proxies with all the necessary military hardware to fight to the total annihilation of both sides! Do not be taken for a ride!
Israel revives military option after Obama rejects its nuclear demands of Iran!
DEBKAfile Exclusive Report, http://www.debka.com/
Israel has withdrawn its pledge to US President Barack Obama not to strike Iran’s nuclear sites before the November presidential election after he rejected its minimal demands for nuclear negotiations with Iran. This is reported exclusively by debkafile’s Washington sources.
In public, Israeli ministers still talk as though they believe in results from the Six-Power talks with Iran, which Thursday May 24 limped into their second day in Baghdad with the parties still miles apart. But the presidential veto has essentially cast Israel outside the loop of influence on the outcome of diplomacy. When Israeli Defense Minister Ehud Barak met US Defense Secretary Leon Panetta at the Pentagon on May 17 he was told that Obama had rejected Israel’s toned-down demands for Iran to at least to halt high-grade uranium enrichment, export its stocks of material enriched higher than 3.5 percent grade and shut down production at the Fordo nuclear plant near Qom.
For six months, the Obama administration tried to sweeten the bitter pill of this rejection by bumping up security aid. The latest appropriation covered another $70 million for manufacturing more Iron Dome short-range missile interceptors. After talking to Panetta, Barak turned to Secretary of State Hillary Clinton and National Security Adviser Tom Donilon in the hope of winning their support for softening Obama’s ruling. Clinton replied she was not involved in the negotiations with Iran and Donilon, that a personal decision by the president was not open to change. A week of consultations followed the defense minister’s return home, during which it was decided to tear up Israel’s pledge to refrain from attacking Iran during the US presidential campaign.
Wednesday, May 23, the day the Baghdad talks began, Barak signaled Washington to this effect. It was conveyed in a little-noticed early morning radio interview with the defense minister. To make sure his words reached the proper address without misunderstandings, the defense minister’s office issued a verbatim English translation from the Hebrew: “There is no need to tell us what to do, and we have no reason to panic. Israel is very, very strong, but we do know that the Iranians are accomplished chess players and will try to achieve nuclear capabilities. Our position has not changed. The world must stop Iran from becoming nuclear. All options remain on the table.”
As the Baghdad talks went around in circles, Israel’s military option was put back firmly on the table and on the US-Iranian chessboard.
- The 13th Tribe of Khazaria! Ashkenazi Khazars Are Not The Jews of The Bible!
If almost 98% of JEWS we know today are NOT semitic, wouldn’t the term ANTI-SEMITIC be null and void? I made this video with 3 Jewish friends who admit they are not Semites!!!!
“Many [modern-day Jews] of whom have clamored to go back [to Palestine] NEVER had antecedents [physical ancestors] in that part of the world …. The OVERWHELMING majority of Jews are descendants from the converts of Khazaria and elsewhere who ADOPTED Judaism…. This VIEW of the NON-ethnicity of the largest portion of Jewry IS SUSTAINED by such prominent anthropologists as Ripley, Weissenberg, Hertz, Boas, Pittard, Fishberg, Mead and others. . “
- Dr. Alfred M. Lilienthal
“… Though many Jews are NOT of Semitic origin, we are the religious, spiritual, and national [but NOT genetic] descendants of those who first formed the early foundations of Judaism who were Semites”
- Rabbi Cyril A. Stanway in “Viewpoints,” Thursday, November 8, 1990, in the Sun-News (Las Cruces, New Mexico)
“. . these Eastern European, Yiddish-speaking Jews who form the Zionist group practically in toto [almost entirely], have NEITHER a geographic, historic NOR ethnic connection with either the Jews [Israelite Judahites] of the Old Testament OR the land known today as Palestine. “
- Jewish Dr. Benjamin H. Freedman, published by the National Economic Council, Inc. as “Council Letter No. 177 (October 15, 1947)
- Modern Judaism is not the religion of the Bible! See here!
- Modern Ashkenazi Jews are not the Jews of the Bible! God’s covenant was with Abraham and his biological descendents. Ashkenazi Jews are not semitic and their ancestors were never in Palestine. They are not the descendents of Abraham/Isaac/Israel. They have no right to stay in Palestine. What the Zionists are doing to the Palestinians is called: genocide and ethnic cleansing! Zionist ’666′ Israel is not the Israel of the Bible! It is a LIE!
1980 Jewish Almanac
“Strictly speaking it is incorrect to call an ancient Israelite a ‘Jew’ or to call a contemporary Jew an Israelite or a Hebrew.” (1980 Jewish Almanac, p. 3)
The Jewish Encyclopedia:
“Khazars, a non-Semitic, Asiatic, Mongolian tribal nation who emigrated into Eastern Europe about the first century, who were converted as an entire nation to Judaism in the seventh century by the expanding Russian nation which absorbed the entire Khazar population, and who account for the presence in Eastern Europe of the great numbers of Yiddish-speaking Jews in Russia, Poland, Lithuania, Galatia, Besserabia and Rumania.”
The American Peoples Encyclopedia … for 1954 at 15-292 records the following in reference to the Khazars: “In the year 740 A.D. the Khazars were officially converted to Judaism. A century later they were crushed by the incoming Slavic-speaking people and were scattered over central Europe where they were known as Jews.
According to the standard Jewish Encyclopedia 96% of all the Jews known to the world today are descendents of the Khazar tribes of Russia, Eastern Europe and western Mongolia.
- The Bible specifically forbids the ill-treatment of people different from us ie: strangers. What Zionist ’666′ Israel does to the Palestinians is called: genocide and ethnic cleansing! Zionist ’666′ Israel is in total violation of God’s law!
“You shall neither mistreat a stranger nor oppress him, for you were strangers in the land of Egypt.”
“Also you shall not oppress a stranger, for you know the heart of a stranger, because you were strangers in the land of Egypt.”
‘And if a stranger dwells with you in your land, you shall not mistreat him.’
The stranger who dwells among you shall be to you as one born among you, and you shall love him as yourself; for you were strangers in the land of Egypt: I am the LORD your God.
‘When you reap the harvest of your land, you shall not wholly reap the corners of your field when you reap, nor shall you gather any gleaning from your harvest. You shall leave them for the poor and for the stranger: I am the LORD your God.’
You shall have the same law for the stranger and for one from your own country; for I am the LORD your God.
22 It shall be that you will divide it by lot as an inheritance for yourselves, and for the strangers who dwell among you and who bear children among you. They shall be to you as native-born among the children of Israel; they shall have an inheritance with you among the tribes of Israel. 23 And it shall be that in whatever tribe the stranger dwells, there you shall give him his inheritance,” says the Lord GOD.
The so-called Star of David is a Satanic symbol. Satanists and occult practitioners use it for calling Satan and demons!
Former Satanist, Bill Schnoebelen (now born again Christian)
“A hexagram must be present to call forth a demon” and ” it is a very powerful tool to invoke Satan”. – “To the sorcerer, the hexagram is a powerful tool to invoke Satan.” In fact, the word “hex” — as to put a “hex” or “curse” on people — comes from this word. – If you examine the so-called “Star of David,” or hexagram, closely, you will discover something astonishing. It has six points, forms six equilateral triangles, and in its interior forms a six sided hexagon — thus it reveals the number of Satan’ antichrist beast, — 6 points, 6 triangles, and the 6 sides of the hexagram — 666 !!!
- See also:
History of The “Six Million” Myth!
Bolshevik Jews Plotted The Ukrainian Holocaust!
The Jewish Genocide of 1.4+ Million Armenian Christians!
The Bolshevik Jews Behind The Deaths of 40+ Millions During The Communist Revolution!
YNET Israel News: Stalin’s Jews. We Mustn’t Forget That Some of Greatest Murderers of Modern Times Were Jewish!
Bolshevik Jews Plotted The Ukrainian Holocaust!
Mark Weber: The Jewish Role in the Bolshevik Revolution and Russia’s Early Soviet Regime! During Which 20+ Million Russians Died !
The Hidden History of Jewish Bolshevism & Freemasonry! How Masonic Wall Street Banksters Financed The Communist Revolution Which Killed Over 100 Million People!
Mark Weber: Wilhelm Höttl And The Elusive ‘Six Million’! Part 2 – How Many Jews Died?
Ashkenazi Khazars (90+% of modern Jewry) are not the Jews of the Bible!
Benjamin Freedman: Ashkenazi Khazars Self Style “Jews” Are Not Semitic And Not The Biological Descendents of The 12 Tribes of Israel !
The 2002 Jenin Holocaust of Palestinians By Zionist ’666′ Israel !
Deir Yassin Remembered ! The 1948 Holocaust of Palestinians by Zionist ’666′ Israel !
Jewish Historian Ilan Pappe: History of Zionism – Genocide And Ethnic Cleansing of Palestine!
Jewish Historian Teddy Katz: 1948 Tantura Massacre of Palestinians! Genocide And Ethnic Cleansing!
Zionist ’666′ Israeli Apartheid and The Nakba!
Forget Deir Yassin: Its Victims Were “Unworthy”! The Holocaust of Palestinians by Zionist ’666′ Israel !
Holocaustianity: Zionism’s Big Lie!
Texe Marrs: Conspiracy of The 6 Pointed Star!
Repost: Holocaust, Hate Speech & Were the Germans so Stupid?
Jack Bernstein: The Life of an American Jew in Racist Marxist Israel !
Peace, Propaganda & The Promised Land ! US Media And The Israeli-Palestinian Conflict!
’666′ Star of David, Satanic Curse / Hex(agram) On Humanity! Occult Symbol.
The Historical Truth About Auschwitz!
Jewish Estimate Sees Number of Holocaust Dead Drop To 2.8 Million!
Fred Leuchter: The End of The Auschwitz Gas Chambers Myth!
Fred A. Leuchter, Jr.: Inside the Auschwitz ‘Gas Chambers’!
The Rudolf Report: Expert Report on Chemical and Technical Aspects of the ‘Gas Chambers’ of Auschwitz!
Barbara Kulaszka: What is ‘Holocaust Denial’?
How Many Died At Auschwitz?
How the Illuminati Manipulates Jews!
Hitler Was A Rothschild Jew?!
Norman Finkelstein on Zionism And The Holocaust Industry!
Holocaust Denier Death, Mossad Linked. How Many Jews Died in the German Concentration Camps?
Gideon Levy: Ethnic Cleansing of Palestinians, Or, Democratic Israel At Work?!
Israel Admits It Covertly Canceled Residency Status of 140,000 Palestinians!
Flashback 1990: Holocaust Expert Rejects Charge That Nazis Made Soap From Jews!
“ … it turns out the creation of Israel had not, after all, been a haphazard fight in which the Arabs fled their homes at the directives of their own leaders, but it had been an unprovoked, systematic campaign of ethnic cleansing by the Jewish militia involving massacres, terrorism and the wholesale looting of an entire nation.” - from 4:22 onwards
‘Greece WILL Leave The Eurozone on January 1, 2013′: Citigroup Boss Predicts Exit Date And Warns of ‘Massive Wave of Contagion Across Europe’!
- The 1 Jan 2013 date is optimistic. It can happen as early as end June 2012! Never be a sheeple, the last to know/understand what is going on but the first to suffer the consequences. Prepare for the coming meltdown by accumulating physical gold/silver immediately! (emphasis mine)
‘Greece WILL leave the eurozone on January 1, 2013′: Citigroup boss predicts exit date and warns of ‘massive wave of contagion across Europe’!
by Daily Mail Reporter, http://www.dailymail.co.uk/
- Currency trading bank says Greece’s new currency would fall by 60%
– European markets relatively stable today despite the dire warning
– FTSE-100 up 1.18%; CAC 40 up by 0.85%; DAX up 0.39%
– Had plunged yesterday after Bundesbank said Grexit would be better
– France and Germany disagree over Eurobonds at six-hour crisis summit
– Officials say growth-led French gaining ground on austere-Germans
– Nick Clegg to take swipe at those urging for Greece to quit the euro
The euro crashed to a 22-month low yesterday as the European economy took another dramatic turn for the worse. Figures showed the biggest slump in private sector business across Europe this month for nearly three years.
The dire news sent the euro tumbling against the dollar to $1.25 – its lowest level since July 2010. Against the pound it was worth little more than 80p.
The latest gloom came against a backdrop of a continuing sense of crisis over Greece as Berlin and Paris remained at loggerheads on what to do, despite the emergency Brussels summit that ended in the early hours of yesterday morning. This comes as a senior economist at the world’s second-largest currency trading bank claims Greece will leave the single currency eurozone on January 1, 2013.
Citigroup’s Michael Saunders said Greece’s new currency would fall in value immediately by 60 per cent – and unleash a massive, yet manageable, wave of contagion across Europe. In a note to clients, he said the likelihood of Greece leaving the euro in the next 12 to 24 months was now between 50 to 75 per cent – and assumed there would be a ‘Grexit’ at the start of next year.
The firm based its case on the belief that Greece would fail to form a government capable of implementing austerity measures after its next set of elections on June 17. This would ‘accentuate’ the stalemate between the nation and its creditors.
Mr Saunders said: ‘We assume Grexit occurs on January 1, 2013, with Greece staying in the EU and receiving external loan support [to mitigate risks of social unrest and collapse of civil society].
‘We expect that Grexit will be followed by a series of policy responses aiming to prevent a domino-style collapse of the banking system and escalating economic disruption.’
The claim came as stock markets across Europe remained stable today despite increased fears of Greece’s chaotic exit - and a growing rift between France and Germany on plans to save the single currency. Markets plunged yesterday after the mighty German Bundesbank warned it would be better to let Greece leave the euro than give its crippled economy any more cash.
- Financial derivatives are financial weapons of mass destruction according to Warren Buffet. He is correct. These instruments are largely held/controlled by Illuminists banks. This coming collapse of the derivatives market will result in a global economic, financial and monetary collapse. The Illuminists will collapse the Eurozone via the PIIGS to provide cover for their criminal machinations and they will start their Satanic World War 3. Watch the preparations for war against Iran. It is a sign that the plug will be pulled soon!
Could the Global Derivatives Market Tip Over?
by David Chapman, http://www.goldseek.com/
The picture is rather stark. This is a chart shown in an article at Global Research (www.globalresearch.ca) – Financial Implosion: Global Derivatives at 1,200 Trillion Dollars 20 Times the World Economy. It bears repeating.
Specifically the chart shows the assets of five of the USA’s largest banks vs. their respective derivative position. Derivatives dwarf the asset position of the banks. Wachovia and HSBC (USA) are not even amongst the top five derivative players in the US. The top five in order are JP Morgan Chase, Bank of America, Morgan Stanley, Citigroup and Goldman Sachs. There is a huge drop off in derivative positions after the top five players.
The global derivatives market is estimated by some at $1,200 trillion ($1.2 quadrillion). Estimating the size of the market is difficult. The Bank for International Settlements (BIS) shows a size of $647 trillion as of December 2011. However, some market followers who have written books on the subject have estimated the market as being even larger at upwards of $1.2 quadrillion. At that level it is 20 times the size of the global economy estimated at $60 to $70 trillion.
The global derivatives market is unregulated and quite possibly under reported. The financial institutions have successfully lobbied for years to block any attempt at regulating the market. Roughly 75% of the market is interest rate contracts (i.e. forward rate agreements, interest rate swaps (the largest component) and options on interest rates). The next largest component is foreign exchange contracts and that only constitutes roughly 10% of the market. The third largest category is credit default swaps (CDS) and that makes up roughly 4% of the market. The rest of the market consists of commodity contracts and equity linked contracts.
As noted the BIS estimates the size of the global derivatives market at $647 trillion as of December 2011. But the BIS number only includes the over the counter market (OTC). It does not include exchange traded derivatives. Overall the global OTC derivatives market has a gross credit exposure of $3.9 trillion. What that effectively means is that if all of the derivative contracts defaulted the hit to the financial institutions would be $3.9 trillion. According to www.banksdaily.com the market capitalization of the world’s largest banks who are the most likely to be involved in the global derivatives market is $2.6 trillion. The potential credit exposure of derivatives exceeds the bank’s capital.
In the global derivatives market the big five US banks dominate the market. In a total global derivatives market using the BIS number of $647 trillion JP Morgan is the world’s largest with at least $70 trillion of derivatives and possibly as high as $80 trillion. JPM’s derivative position is against an asset base of $1.8 to $2.2 trillion. JPM is estimated to have credit exposure for their derivatives of 256% of capital. For the top five US banks the ratio is 316%. This far exceeds the estimated global credit exposure of derivatives when compared to the market cap of the world’s largest banks.