collapse bail inThe Man who predicted the 1987 Black Monday crash to the exact day is now sounding the alarm on Deutsche Bank:
“Deutsche Bank was extremely aggressive in derivatives.  It’s a SERIOUS CRISIS here.  DB is not just the biggest bank of Germany, its the Cadillac of Europe!  The derivatives could create a Contagion – It’s not looking good…”

collapseIn this MUST LISTEN extended holiday interview, Hat Trick Letter Editor Jim Willie sits down to discuss Global War, Derivatives Collapse and the Dollar as we head into 2016.
Will 2016 Be the Year the Dollar is Finally Relegated to the DUSTBIN of History??

2 Full Hours of Golden Jackass Are Below:

Play

collapse bail inBill Holter joins The Doc for an Exclusive Update on the Greek Crisis, and the Potential for a Full Derivatives CONTAGION, Discussing:

  • Greek problem is not $3 billion, its $3 TRILLION IN DERIVATIVES– Will ISDA Allow Default?
  • Greek default WAS NOT PRICED IN- Why a MASSIVE LIQUIDITY EVENT has been triggered!
  • End Game for Greek Depositors- Are the Depositor Haircuts and Bail-ins Imminent?
  • Bill Warns: Greece Is Going to Happen Here- The Credit System is Going to Collapse!
  • Gold Will Get Your Wealth into the Next System After a Reset Occurs
  • JPM Corners the Commodities Derivatives Market Adding $3 TRILLION 
  • COMEX Will Go Force Majeure Allowing JPM to Unwind Massive Short PositionBill Holter’s Full MUST LISTEN Greek Alert is Below:
Play

In the wake of the Swiss National Bank shocking the market this week de-pegging the CHF from the Euro, the Golden Jackass Jim Willie joined us over the weekend for an Exclusive Interview discussing: 

  • Willie explains why the Swiss are dumping the Euro in favor of GOLD, and that multi-hundred billion trading losses will result in MASSIVE DERIVATIVE LOSSES & CONTAGION!
  • Swiss actions have brought a HUGE ACCELERATION of end game eventsWe’re looking at the potential END of the EURO!
  • Swiss have front run the Global Currency Reset & GOLD REVALUATION!
  • $2 TRILLION IN SUB-PRIME OIL BONDS ARE ABOUT TO EXPLODE!  Contagion will be bigger than sub-prime housing crash!
  • Dollar Death-Spike: Fed has LOST CONTROL of the dollar!
  • Coming European bank failures will result in a STAMPEDE INTO GOLD!
  • 2015 Will be a repeat of Lehman- Several Western banks will go down, This is GAME OVER!
  • When Putin flips his switch, the DOLLAR IS DEAD, and Gold Will DOUBLE!
  • GREXIT will blow up the EU!

One of Jim Willie’s Most Dynamic & STUNNING Interviews EVER is below: 

When it becomes serious, you have to lie.”  -Jean-Claude Juncker
 At the height of the Crisis in 2008, the system as we know it, both financial and political, came hours within ending, for good.
If you believe that the problems of the Great Financial Crisis are in the rear-view mirror, then my friend, you don’t yet understand what really happened back then.
Just one bank’s total derivative exposure is roughly 20 times the size of the German economy, and more than 5 times the size of all of Europe’s economy combined! One bank!
What do you think will happen when the ISDA announces that another “credit event” has occurred?  When even one losing party has to eventually pay out to another holder of derivative products, to make good on their obligations, do you think that the eventual loser won’t set off another daisy chain, as happened in 2008?  The Fed itself  has had to backstop Bank of America’s oversized $53 trillion dollar derivative position
Who do you think is really on the hook for the coming daisy chain of failures?  
That’s right, you are.

bombshell willieIf Banco Espirito goes under, the default could trigger $29 billion in bondholder claims, and $120 billion in credit default claims. 
However, it’s not the $120 billion in CDS claims that are visible.  The real danger lurks in the “daisy-chain” of hidden counterparty default that could trigger a big meltdown.    Remember AIG/Goldman?   That melt-down – which triggered the big bailout banks – was likely triggered either by the Bear Stearns or Lehman collapse.
The former happened several months before AIG and Goldman.  When Bear collapsed, Bernanke assured us it was isolated and contained.  “Shalom Ben!” – how did the statement work out for you?

Will the Argentina default and the coming one of Banco Espirito trigger a credit default swaps meltdown?

The 1987 stock slam that occurred was a wake-up call.   The response was the creation of a derivative banking foundation of vaporous substance.
Derivatives played a key role in the Lehman investment bank failure. In reality, it was more a planned financial murder event, orchestrated by JPMorgan and Goldman Sachs.   The Wall Street kings killed Lehman in order to pick its bones and to feed Goldman Sachs.
When big banks begin to fail, the belief has been, the risk of contagion will be the main focus. Since Lehman, the major Western banks have lashed themselves together for safety and security. They have done so with financial derivatives, the rope to connect them together.   So the next failures will put the entire system at risk of collapse.   This is the oft-described nuclear outcome, which has been brought upon by $1.4 quadrillion worth of derivatives. 
The world faces a guaranteed systemic implosion caused by derivatives.  Bank failures and contagion will lead to the widespread connected failures, and lost control by both governments and central banks to manage them. Gold will be the secure port during the stormy outcomes.
Gold will arrive on a white horse.  The return to the Gold Standard is the answer. The Gold Price will reach incredibly high levels when the derivative implosion occurs, when the East introduces a legitimate gold-backed new BRICS currency for trade settlement.  The fallout will be tremendous, as the USDollar is rejected on the global stage.

smell collapse…it smells like, derivatives napalm bombs (with apologies to Robert Duvall and Francis Ford Coppola).

Banco Espirito Santo is in some deep kimchi.  And so are the investors in the bonds issued by the banks.
And so are the investors who are unwittingly exposed to these bonds and the derivatives tied to these bonds.  

debt infographic

Source: Demonocracy

The numbers that you are about to see are likely to shock you.  They prove that the global financial Ponzi scheme is far more extensive than most people would ever dare to imagine.
As you will see below, the total amount of debt in the world is now more than three times greater than global GDP.  In other words, you could take every single good and service produced on the entire planet this year, next year and the year after that and it still would not be enough to pay off all the debt.
But even that number pales in comparison to the exposure that big global banks have to derivatives contracts.
It is hard to put into words how reckless they have been.  At the low end of the estimates, the total exposure that global banks have to derivatives contracts is 710 trillion dollars.  That is an amount of money that is almost unimaginable.
The truth is that our financial system is little more than a giant pyramid scheme that is based on debt and paper promises. 
The following are 12 numbers about the global financial Ponzi scheme that should be burned into your brain…

BubbleThe global derivatives bubble is now 20 percent bigger than it was just before the last great financial crisis struck in 2008
Let that sink in for a moment.
JPMorgan’s derivative exposure alone has ballooned to over $70 TRILLION (mainly interest rate swaps).

We are witnessing a financial bubble far larger than anything the world has ever seen, and when it finally bursts it is going to be a complete and utter nightmare for the financial system of the planet. 
A financial crisis far greater than what we experienced in 2008 is coming, and it is going to shock the world.