antifascist Posted October 7, 2011 Share Posted October 7, 2011 According to Economic Journalist Max Keiser. JP Morgan holds $78 trillion in derivative assets. What would you do to Sheffield if you had $78 Trillion to spend? Link to comment Share on other sites More sharing options...
bigsexydoug Posted October 7, 2011 Share Posted October 7, 2011 i would certainly have a monkey butler, and would buy a full tank of petrol for my car Link to comment Share on other sites More sharing options...
upinwath Posted October 7, 2011 Share Posted October 7, 2011 I'd buy a larger moped. Link to comment Share on other sites More sharing options...
sheffbag Posted October 7, 2011 Share Posted October 7, 2011 I'd leave it and go become the president of Chad Link to comment Share on other sites More sharing options...
shortcrust Posted October 7, 2011 Share Posted October 7, 2011 Just want to point out that JP Morgan does not have $78 trillion is assets. It has $78 trillion in derivatives. Not the same thing at all. Link to comment Share on other sites More sharing options...
sheffbag Posted October 7, 2011 Share Posted October 7, 2011 Just want to point out that JP Morgan does not have $78 trillion is assets. It has $78 trillion in derivatives. Not the same thing at all. Oh shut up spoilsport its a bit of Friday fun. Link to comment Share on other sites More sharing options...
I1L2T3 Posted October 7, 2011 Share Posted October 7, 2011 the nominal value of the JPM derivatives might be that much. In reality most of it is unexpired junk rendering JPM effectively insolvent. But if Sheffield had that money it'd have more 5 times more money than US GDP. Sheffield would be even nicer to live in than now. I'd start by building a wall around it and repairing every road. Knock down all the rubbish housing and give everybody a new eco house. Build sustainable energy supplies. A new proper airport. The best hospitals and schools. Maybe even tidy up castle market and the Moor. And we'd still have maybe $76 trillion left. Link to comment Share on other sites More sharing options...
antifascist Posted October 7, 2011 Author Share Posted October 7, 2011 I accept the correction that they hold 78 trillion in derivatives, however writing all these off as junk is highly disingenuous. JP Morgan holds 80% of all the Gold derivatives in the world. Also how much of it is junk depends on how many banks we allow to fail, how many bailouts we do, How many countries default. If lots of banks fail then JP Morgan looses more. Suggesting JP Morgan is practically insolvent is nothing more than Elitist, Fascist propaganda. They are rich enough to donate over 4 million to the NYPD to break the heads of Wall St protestors, or to buy a 200 million dollar share in twitter so they can censor it. JP Morgan and Goldman Sachs rule the world according to top economists. Their power and influence far exceeds the power of any of the governments of the people. Tell me I1L2T3, how do YOU know they are insolvent? Which version of JP Morgans accounts did you read? Link to comment Share on other sites More sharing options...
chem1st Posted October 7, 2011 Share Posted October 7, 2011 Don't buy paper gold or paper silver. Buy the actual stuff. Link to comment Share on other sites More sharing options...
MrSmith Posted October 7, 2011 Share Posted October 7, 2011 According to Economic Journalist Max Keiser. JP Morgan holds $78 trillion in derivative assets. What would you do to Sheffield if you had $78 Trillion to spend? Demolish it and revert it back to green fields. Link to comment Share on other sites More sharing options...
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