For those who are gloating on the new records set on Wall Street and the collapse of gold:
JP Morgan: $78 TRILLION in derivatives / $1.8 Trillion in assets
Citibank: $56 TRILLION in derivatives / $1.2 Trillion in assets
Bank of America: $53 TRILLION in derivatives / $1.5 Trillion in assets
Goldman Sachs (aka US Government): $48 TRILLION in derivatives / $89 BILLION in assets
That is only four banks. We all know that this will end badly. Except for those grounded in fantasy.
David DeGerolamo
