I will continue to blog regarding JP Morgan Chase. But right now, I want you to know that the monetary system itself is intricately involved with the great inequities we are now witnessing. It is important not just to understand the arcane investment vehicles invented and utilized by the too-big-to-fail banks like JP Morgan Chase and Goldman Sachs. It is also necessary to understand what the Federal Reserve Bank is, and how they are effecting all of us right now. Let's start with their manipulation of interest rates. In a normal interest rate environment, the people of the United States would be earning a half a trillion dollars in regular savings accounts. However, as the Federal Reserve has mandated interest rates to near zero, the common man has no returns on savings. He is forced to invest in riskier assets...while the too big to fail banks, like JP Morgan Chase, are able to borrow money from the feds at these near zero rates, only to gamble that money in casino grade trades called derivatives. JP Morgan has said it's in trouble, $ 2bil...now according to the NYTimes, it's $9 Bil...guess what? No one knows what it is. But rest assured, the government, which is actually owned by these big banks, will get you, the tax payer, to bail out the banks who have taken free money from the feds and gambled it in the wildly profitable, until it's not, derivatives market. More to come, dear readers, who have the desire to stay with me on this. Not pretty, not for the faint of heart.
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