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Socio-Economics & History Commentary

Jim Willie: JP Morgan ‘Tower of Babel’ Financial Derivatives Collapse!

Click on image to play the 25 May 2012 interview of Jim Willie by Turd Ferguson!

  • 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: . 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,
    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.


May 26, 2012 Posted by | Economics | , , , , , , , , , , , | 1 Comment

Fear of Bank Runs in U.S. Hit All Time Highs!

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Bilderberg 2012: Dark Cabal Meet To Plot Final End Game!

May 26, 2012 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , | Comments Off on Bilderberg 2012: Dark Cabal Meet To Plot Final End Game!

Ancient Aliens: Season 4 Episode 4 – Aliens And Mega Disasters!


May 26, 2012 Posted by | EndTimes, History, Social Trends | , , , , , , , | 1 Comment

Pastor Mike Hoggard: The Nephilim Giants And The Hybrid Anti-Christ ! (Part 3)

Ella Ewing, 8′ 4″ Gorin, Missouri 1872-1912. Source:

Johan Aason at age 18. He is 8 feet, 9-1/4 inches tall and weighs 503 lbs. circa 1900. According to Johan’s patient record and his death certificate from Mendocino State Hospital, he measured 9′ 2″ (279 cm). Source:


May 26, 2012 Posted by | EndTimes, History | , , | Comments Off on Pastor Mike Hoggard: The Nephilim Giants And The Hybrid Anti-Christ ! (Part 3)

Texas School To Monitor Students with Microchips!

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FBI Secretly Creating Internet Police?

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CrossTalk on Iran: Nuclear Fuse!

by Warner D. Farr, LTC, U.S. Army,

May 26, 2012 Posted by | GeoPolitics | , , , , , , , , , , | Comments Off on CrossTalk on Iran: Nuclear Fuse!

Grexit Fear Factor: Berlin To Sail on Sea of Greek Misery!

May 26, 2012 Posted by | Economics, GeoPolitics | , , , , , , , , , | Comments Off on Grexit Fear Factor: Berlin To Sail on Sea of Greek Misery!

Russia is Willing To Defend Syria & Iran with Its Military!

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James Rickards: Currency Wars – The Making of The Next Global Crisis!

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Israel Revives Military Option After Obama Rejects Its Nuclear Demands of Iran!

  • 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, 
    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.

Revelation 2:9 – …. and I know the blasphemy of those who say they are Jews and are not, but are a synagogue of Satan.

“ … 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


May 26, 2012 Posted by | EndTimes, GeoPolitics | , , , , , , , , , , , | 1 Comment

Rockefeller Foundation Predicts 13000 To Die at 2012 Olympics!

  • Illuminist social engineers at work! (emphasis mine)

    Scenarios for the Future of Technology and International Development! 
    Page 34 :
    An economically unstable and shock-prone world in which governments weaken, criminals thrive, and dangerous innovations emerge
    Devastating shocks like September 11, the Southeast Asian tsunami of 2004, and the 2010 Haiti earthquake had certainly primed the world for sudden disasters. But no one was prepared for a world in which large-scale catastrophes would occur with such breathtaking frequency. The years 2010 to 2020 were dubbed the “doom decade” for good reason: the 2012 Olympic bombing, which killed 13,000, was followed closely by an earthquake in Indonesia killing 40,000, a tsunami that almost wiped out Nicaragua, and the onset of the West China Famine, caused by a once-in-a-millennium drought linked to climate change. ….


May 26, 2012 Posted by | Disaster, Social Trends | , , , , , , , | Comments Off on Rockefeller Foundation Predicts 13000 To Die at 2012 Olympics!

‘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,
    – 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.

    read more!


May 26, 2012 Posted by | Economics | , , , , , , , , , , , | Comments Off on ‘Greece WILL Leave The Eurozone on January 1, 2013’: Citigroup Boss Predicts Exit Date And Warns of ‘Massive Wave of Contagion Across Europe’!

Could The Global Derivatives Market Tip Over?

It is coming!!!

  • 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,
    The picture is rather stark. This is a chart shown in an article at Global Research ( – 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 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.

    read more!


May 26, 2012 Posted by | Economics | , , , , , , , , , | Comments Off on Could The Global Derivatives Market Tip Over?