Hypocrisy (Greg Hunter) "I AM NOT MOVING"

Welcome to U.S. Hypocricy

At It's Finest Worst

Much thanks to Greg Hunter
USA Watchdog
11/8/11

Haven’t heard much about Occupy Wall Street (OWS) lately, but it is still going on. The official premise is to protest greed and corruption on Wall Street. Unofficially, I think it is a bunch of people who have awoken to the fact they have been financially screwed. Yes, I know the Communist party, Nazi party and unions are all trying to hijack and latch onto this movement, but I think, at its heart, it’s much more than that. It’s about not having a fair and level playing field for everyone to play on. Harvard Professor Elizabeth Warren summed it up perfectly when she said, “We rescued at the top and told the bottom to fin for itself.” OWS would have never started if we had let the banks fail, protected only the depositors and fired and prosecuted some big bankers. Instead, we continue to bail them out, and top bankers continue to collect big bonuses for the mess they caused. On top of that, our own government officials and financial watchdogs allow phony accounting to make the banks looks solvent.

The video you are about to see is titled “I Am Not Moving,” but I think is should be called “Hypocrisy.” It has gotten nearly a million You Tube views and is an interesting and poignant piece of work. Both Republicans and Democrats should take notice. I do not believe in everything the OWS movement stands for, but I fully support their right to peacefully protest and exercise their First Amendment right granted under the U.S Constitution. Enjoy the video below:

Four Biggest Banks Have a 50 to 1 Leverage and $235 TRILLION Exposure & Who Cares About the Grandkids...

Okay, like we realy care about about the grandkids...

USA Watchdog
By Greg Hunter
October 3, 2011

I keep hammering away at the fact the Fed doled out $16 trillion in the wake of the credit crisis of 2008. This is an enormous sum that is greater than the all goods and services produced in the U.S. in a single year.

Domestic banks and companies got the money, right along with foreign banks and companies. In effect, the Federal Reserve bailed out the world financial system. Now, we are right back to square one facing another financial meltdown with European banks and sovereign debt. If the Fed spent $16 trillion, why in the heck is this problem not fixed and why isn’t the world economy taking off like a rocket?” The simple answer is it wasn’t enough money.

The Bank of International Settlements pegs the total world over-the-counter (OTC) derivative exposure at around $600 trillion, but many experts say the real figure is more than twice that amount. No matter which figure you use, it is a gargantuan sum. OTC derivatives are an unregulated dark pool of money with no public market.

These are basically debt bets between two entities on things such as credit risk, currencies, interest rates and commodities. According to the latest report from the Comptroller of the Currency, just four U.S. banks have an eye popping $235 trillion of OTC derivative leverage. (Click here for the complete Comptroller of the Currency report.) As a nation, U.S. banks have a total OTC derivative exposure of $250 trillion. So, the fact that just four U.S. banks have this much leverage and risk is astounding! The banks are listed below in order of size and approximate OTC exposure:

1. JP MORGAN CHASE BANK NA OH $78.1 trillion OTC derivatives
2. CITIBANK NATIONAL ASSN $56.1 trillion OTC derivatives
3. BANK OF AMERICA NA NC $53.15 trillion OTC derivatives
4. GOLDMAN SACHS BANK USA NY$47.7 trillion OTC derivatives

Considering that the total assets of these four banks are a little more than $5 trillion, I see a frightening amount of risk with a total derivative exposure of $235 trillion! This is nearly 50 to 1 leverage.

On top of that, assets such as real estate or mortgage-backed securities can be held on the books at whatever value the banks think they can sell them for in the future. I call this government sanctioned accounting fraud, or mark to fantasy accounting. Who knows what the true value of the banks “assets” really are. Leverage Continued