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Originally posted by jude11
Gotta bring it in.
Thanx for the vid as well...
Originally posted by anoncoholic
... maybe the people just don't care enough to be bothered to spend a couple of hours in details?
Originally posted by gentledissident
Originally posted by anoncoholic
... maybe the people just don't care enough to be bothered to spend a couple of hours in details?
I knew a guy like that, emphasis on "knew". He wanted all ideas presented in less than 2 min. If they conflicted with his held notions, he rejected the ideas before the presentation was over. He would get noticeably disturbed. We cannot deny that there is apathy and opposition. Having said that, I don't have time to watch right now . Thanks for the bookmark, though.
OCC’s Quarterly Report on Bank Trading and Derivatives Activities Second Quarter 2010 Executive Summary
• The notional value of derivatives held by U.S. commercial banks increased $6.9 trillion in the second quarter, or 3.2%, to $223.4 trillion.
• U.S. commercial banks reported trading revenues of $6.6 billion in the second quarter, 28% higher than $5.2 billion in the second quarter of 2009.
• Credit exposure from derivatives increased in the second quarter, after five consecutive quarterly declines. Net current credit exposure increased 11%, or $38 billion, to $397 billion.
• Derivative contracts remain concentrated in interest rate products, which comprise 84% of total derivative notional values. The notional value of credit derivative contracts, at $13.9 trillion, represents 6% of total notionals. Credit derivatives declined by 3.4% during the quarter.
Originally posted by wayouttheredude
reply to post by anoncoholic
I heard about these CAFRs some years ago that they are talking about in the video. I had to go to the cafr1 site and download some reports. Pretty shocking stuff. This tidbit is from one of those reports.
OCC’s Quarterly Report on Bank Trading and Derivatives Activities Second Quarter 2010 Executive Summary
• The notional value of derivatives held by U.S. commercial banks increased $6.9 trillion in the second quarter, or 3.2%, to $223.4 trillion.
• U.S. commercial banks reported trading revenues of $6.6 billion in the second quarter, 28% higher than $5.2 billion in the second quarter of 2009.
• Credit exposure from derivatives increased in the second quarter, after five consecutive quarterly declines. Net current credit exposure increased 11%, or $38 billion, to $397 billion.
• Derivative contracts remain concentrated in interest rate products, which comprise 84% of total derivative notional values. The notional value of credit derivative contracts, at $13.9 trillion, represents 6% of total notionals. Credit derivatives declined by 3.4% during the quarter.
Notational value is not real value of course. The real value of those holdings since much of it is backed by mortgage paper which has defaulted is closer to $0.00
The banks own a blizzard of worthless paper backed by worthless paper. Call me a gold bug if you like but I like hard money and not all this worthless notational garbage the 5 major too big to fail banks now hold.
2011 first quarter report (PDF) It is up to 244 trillion now. WOW!
edit on 12-10-2011 by wayouttheredude because: added sources