John R. sent a Seeking Alpha article with some confirmations of my warnings to SurvivalBlog readers since 2006: Derivatives: The Real Reason Bernanke Funnels Trillions Into Wall Street Banks. Here is a quote from the article: “Of course, Bernanke tells the public and Congress that the reason we need low interest rates is to support housing prices. He doesn’t mention that $188 TRILLION of the $223 TRILLION in notional value of derivatives sitting on the Big Banks’ balance sheets is related to interest rates. Yes, $188 TRILLION. That’s thirteen times the US’ entire GDP, and nearly four times WORLD GDP.”
Some insightful commentary from Charles Hugh Smith: Travesty of a Mockery of a Sham, Phase II
Imprisoned economist Martin A. Armstrong opines: The Egypt Crisis Will Engulf The Arab World, And Then Spread To Europe.
Items from The Economatrix: