TFMetals has released an interview with our friend Jim Willie of regarding Willie’s analysis on how JPM’s just reported massive hedging losses on derivatives tie into the European debt crisis.
Willie and Rob Kirby state that JPM’s credit default swap losses are actually $18 BILLION, rather than the $2 billion admitted thus far by Jamie.
As always, Willie is a MUST LISTEN!!
Like many of you, I know what is coming. I can see all of the pieces of the puzzle but I don’t quite have the knowledge and expertise needed to bring all of the pieces together into a clear picture. Jim Willie does.

In this podcast, Jim takes today’s seemingly unrelated headlines of European sovereign debt, JPM hedging losses and paper gold price drops and ties them all together into a tidy little package that clearly shows where we are headed in the not-too-distant future.
Click here for Jim Willie’s interview with Turd of TFMetals:

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