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Still any doubts that banksters rule the planet ?
Warren Buffett referred to derivatives as "financial weapons of mass destruction" with estimates of the global derivatives market up to 1.5 quadrillion dollars (1500 Trillion).................1 Trillion = 1000 Billion
Keep in mind that global GDP is around 70 trillion dollars per year....................
now for the 4 horsemen of economic Armageddon........................
1) JPMorgan Chase
Total Assets: $1,812,837,000,000 (just over 1.8 trillion dollars)
Total Exposure To Derivatives: $69,238,349,000,000 (more than 69 trillion dollars)
2)Citibank
Total Assets: $1,347,841,000,000 (just over 1.3 trillion dollars)
Total Exposure To Derivatives: $52,150,970,000,000 (more than 52 trillion dollars)
3) Bank Of America
Total Assets: $1,445,093,000,000 (just over 1.4 trillion dollars)
Total Exposure To Derivatives: $44,405,372,000,000 (more than 44 trillion dollars)
4) Goldman Sachs
Total Assets: $114,693,000,000 (just over 114 billion dollars - yes, you read that correctly)
Total Exposure To Derivatives: $41,580,395,000,000 (more than 41 trillion dollars)
That means that the total exposure that Goldman Sachs has to derivatives contracts is more than 362 times greater than their total assets.
### the sub-prime crisis in 2007-8 only involved just over 1 Trillion dollars worth of derivatives !
Warren Buffett referred to derivatives as "financial weapons of mass destruction" with estimates of the global derivatives market up to 1.5 quadrillion dollars (1500 Trillion).................1 Trillion = 1000 Billion
Keep in mind that global GDP is around 70 trillion dollars per year....................
now for the 4 horsemen of economic Armageddon........................
1) JPMorgan Chase
Total Assets: $1,812,837,000,000 (just over 1.8 trillion dollars)
Total Exposure To Derivatives: $69,238,349,000,000 (more than 69 trillion dollars)
2)Citibank
Total Assets: $1,347,841,000,000 (just over 1.3 trillion dollars)
Total Exposure To Derivatives: $52,150,970,000,000 (more than 52 trillion dollars)
3) Bank Of America
Total Assets: $1,445,093,000,000 (just over 1.4 trillion dollars)
Total Exposure To Derivatives: $44,405,372,000,000 (more than 44 trillion dollars)
4) Goldman Sachs
Total Assets: $114,693,000,000 (just over 114 billion dollars - yes, you read that correctly)
Total Exposure To Derivatives: $41,580,395,000,000 (more than 41 trillion dollars)
That means that the total exposure that Goldman Sachs has to derivatives contracts is more than 362 times greater than their total assets.
### the sub-prime crisis in 2007-8 only involved just over 1 Trillion dollars worth of derivatives !
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