According to a recent analysis by Thomas Hoenig, vice chairman of the Federal Deposit Insurance Corporation, using international accounting standards (rather than the accounting methods used by the banks themselves) for derivatives and consolidated mortgage securitizations, . JPMorgan Chase JPM , Citibank and Bank of America BAC have become the three largest banks in the world. Together with Wells Fargo WFC, which has become the world’s sixth largest, assets of the four largest U.S. banks amount to an astonishing 97 percent of our 2012 Gross Domestic Product.
So, when the government says the economy is improving… does it mean the economy of those four banks, or the economy for the REST of us, represented by 3%? IE: The PRODUCTIVE economy, the farmers, the few manufacturers remaining in the US, the “under”-employed, the part time employed, etc.?
That we continue to keep our heads in the sand, and still give credence to anything the government says is amazing to me. There IS no more representative government in the United States!
We exist only to provide grist for the false fiat money mill of the Big Four Banksters and their inflated Wall Street Casino of stock market paper equities and unending layers of derivatives, amounting to 10 times the real global economy. When the house of cards falls, and the breathtaking extent of the fraud permitted by our inept politicians and their banking puppet-masters becomes known, the Second American Revolution will encompass more than throwing out the elite banksters. It endangers confidence in the entire government that sanctioned them. It will have collateral damage consequences well beyond merely rearranging our debt, or returning to a solid monetary system. The very structure of American Society and Government will be at risk.
Someone find a fiddle; Nerobama’s ready to play.