The Stench of Economic Rot

I, like a lot of others, have been focused, primarily, on the issues with European banks and nation states. All the problems are easy to see as they are continually used as a distraction to the issues we face in the U.S.. The U.S. economy, banking and financial system is far worse than what is happening in Europe. The unfunded liabilities of the federal government dwarf most of what is happening in Europe. This is to say nothing of the rot within the banking system is beginning surface in the form of Wells Fargo and is proving to be equally as bad, if not worse, than what is happening with Deutsche Bank, Commerzbank and the Italian banking system. Let’s not forget JP Morgan has the worlds largest derivatives book at more than $70 trillion in notional “value”. What does 70 trillion of anything look like? As another reminder, derivatives are financial weapons of mass destruction. At some point this toxic waste is going to go boom and anyone within arms reach is going to feel the burn of a financial toxic waste explosion.

The problems our economy faces, in the U.S., grow worse by the day. The mainstream media, through the use of their two favorite tools of propaganda, the stock market and mainstream media, continue to paint a picture filled with rainbows, unicorns and cute kittens (RUCKs). This illusion, combined with the most politicized government statistical data on the planet, the monthly jobs report, keeps everyone smiling and believing everything is just peachy. Well, all one has to do look just behind the curtain, not really even a full view, and one can behold the stench and rot behind the mirage.

The monthly jobs report has stated, for the past several months, that the U.S. is enjoying “full employment” at or just below 5% unemployment. Well, you can believe this bold-faced lie if you wish but nothing could be further from the truth. If everyone that wanted a full-time job had a full-time job the part-time labor market would be a non-factor. Companies would not be firing, I mean “laying-off”, employees in mass. Just a couple of examples for the months of August and September 2016 – Anheuser-Busch – up to 5,500 Layoffs PossibleCisco – 14,000 Layoffs Coming ?Novo Nordisk – 1,000Well Fargo – 5,300 for Creating Phony AccountThese are only the largest “layoffs” and only U.S. based “layoffs”. Of course there are a great many more ranging from several hundred to 50 or less. The number of small entries are equal to or greater than some of the larger entries listed here. This information comes by way of Daily Job Cuts that pulls information directly from the headlines of online sources from around the world.

The employment myth is now shattered by the ugly truth of reality. With only 5 companies we see the potential of 25,800 jobs lost just over the course of two months. The impact this will have on the communities is far reaching and is not accounted for in the monthly jobs report.

Turning back to the actual problem, the criminal banking cabal, the chart below, created by Wall Street on Parade, shows how interconnected the derivatives market has become. If this same chart were to be drawn up for JP Morgan/Chase would it be almost twice as large? JP Morgan/Chase’s derivatives book, at $70 trillion is almost twice the size of Deutsche Bank (DB). DB’s derivatives book sits at $47 trillion and the web of deceit, below, paints a picture that would touch everyones banking account reading this article.


The bubbles, which is appropriate, in purple in the upper right portion of the chart are the U.S. banks infected with by DB’s derivatives book. The gray lines demonstrate the size of the coming explosion. It appears the gray lines in that particular section have the heaviest concentration of garbage, even though the European section, represented by the blue bubbles along the bottom, has more than twice as many banks.

While the European banking problem is a big deal and, currently we see Deutsche Bank at the center of the problem, this does not mean the U.S. banking cabal is in any better condition. The U.S. banking cabal is just as toxic, just as dangerous and equally on the brink of financial disaster. Turn off the TeeVee and call your broker. Ask this one simple question: If DB goes belly up will my assets be safe? Anything less than “no” is more than likely a flat out lie. Even if you are in a credit union, a smaller regional bank or even a home town bank the allure of massive profits, generated through the toxic waste casino known as derivatives, is hard to pass by.

The illusion is fading, the mirage is being dismantled and there seems to be a fire raging in the under belly of this global nightmare. Has the fuse been lit or will the central banks, World Bank or the IMF step in to “save the day”? If one of the top mafia bosses steps in will there be uprisings or will this pacify the masses for another day? How many banks, in the U.S., will we find in the dust bin of history once the casino runs out of chips? Is it even possible for the casino to run out chips since central banks own the chips, produce the chips and, by law, demand that we use their chips and only their chips? Time will tell. All the head scratching and hand-wringing is probably for naught.

The next crisis, and it very well may be unfolding right now, will be at the central bank level. The Wall Street and City of London money junkies are all tapped out. None of these lower ranking crime syndicates will be able to handle the next level of crisis. No, the next crisis will be handled by the big bosses at the international level, the Bank for International Settlement (BIS), World Bank and International Monetary Fund (IMF). It just so happens the yuan/renminbi was just added, as of today, October 1, 2016, to the SDR basket of currencies. Who would’ve thought the first change to international currencies in thirty years would come on the eve of what appears to be the next financial crisis. Hmmmm, I need to shine up my tin-foil hat as I do not believe in coincidence.

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The Daily Coin

Rory Hall, The Daily Coin. Beginning in 1987 Rory has written over 1,000 articles and produced more than 300 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Silver Doctors, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few. Don't forget to visit The Daily Coin and Shadow of Truth YouTube channels to enjoy original videos and some of the best economic, precious metals, geopolitical and preparedness news from around the world.