The Truth of the matter is that the situation with Greece is being used as the cover-job to mask the truth about the catastrophic derivatives exposure of the world’s biggest banks. I demonstrated a couple days ago how looking at just Greece in isolation could lead to tens of billions in losses for the biggest banks – primarily JP Morgan – if Greece leaves the EU and reinstates the drachma as its currency. (…) And the Greek situation – just like the Lehman collapse provided a cover-story for the massive mult-trillion dollar bailout of Wall Street’s finest in 2008 – is nothing more than an insidious cover-story to enable the Fed/ECB/BOE to print up and inject several more trillion in paper fiat currency in order to bail out the big banks listed above out of their catastrophic insolvency, rendered largely by moral hazard-enabled investment failures made worse by the layering of 10’s of trillions in derivatives over the bad investments.
That’s the bottom line and that’s the Truth that you will never hear about from any politician or any mainstream media source. Dave in Denver