Relevant:
- Credit Default Swaps and Bank Leverage
- Economic Rape of Europe Nearly Complete, Part I
- Where Will All the Money Go When All Three Market Bubbles Pop?
- Richard (RJ) Eskow: Wall Street's Misdeeds Cost Trillions, But It's Main Street Who's Getting Nickel-and-Dimed.
- Greek Crisis Raises New Fears Over Credit-Default Swaps
2008-10-30 — goldseek.com
Beyond the $1 trillion subprime problem that has been erroneously targeted as the prime culprit behind the credit crisis are more serious financial catastrophes that are barely reported, mostly overlooked and cannot be remedied. The Fed cannot print enough money to paper over the $531.2 trillion in derivatives and credit swaps, the trillions in the overbuilt commercial real estate market ready to collapse, the multi-trillions in leveraged buyouts going bust, and other exotic financial instruments that have turned toxic. Yesterday’s lowering of interest rates and the continual Fed action to flood the markets with money will lead to an era of hyper-inflation, the likes of which no living American has ever seen.
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