Submitted by: Donald Hank
Quote (see article below):
"According to the Comptroller of the Currency, the biggest U.S. banks have exposure to derivativesthat is absolutely mind blowing. "
And just what is a derivative you ask?
Well, to get the technical explanation, please Google it.
But in layperson's terms, a derivative in its present day manifestation (I am referring in particular to subprime mortgage derivatives) can perhaps best be defined as follows:
Air posing as money.
And as long as the mask is held in place by the MSM, government and quasi-government corporatists like Bernanke (the president of world corporatism), the blind and gullible will continue to trade derivatives as if they were money and will expect eventually to "cash them in" at face value plus earnings. That will work fine as long as governments keep propping them up and funneling endless amounts of cash into them.
But as the author suggests below, the mask probably won't enough fool people for long. And then a SHTF phenomenon will be unleashed on all of mankind and no Bernankes, Obamas, Merkels, Super Marios or other mortals posing as gods will be able to do a thing about it.
BTW, I wonder why Super Bernanke didn't talk at length to these bright-eyed students about our unemployment and galloping inflation and give them an idea how he intends to tackle these issues now that he has "stopped the depression" dead in its tracks.
Don Hank
