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stockholmer

(3,751 posts)
Tue Jan 31, 2012, 04:22 PM Jan 2012

Breaking:5 Major US banks face massive (trillions) default on credit default swaps within weeks



The 5 US largest banks have 96% of credit default swaps out there. As Euro defaults kick in, parties become contractually obligated to make huge payouts to the relevant derivative partners. We are talking amounts potentially in the tens of TRILLIONS, due to insane levels of leverage. Morgan Stanley will be the first to go, followed by Wells Fargo, Citibank, and JP Morgan. Goldman Sachs, as usual, is the least exposed if a credit default event is declared, IMHO.

Watch the actions of ISDA, (International Swaps and Derivatives Association) http://www2.isda.org/ they in charge of determining when a "credit event" occurs.

The interviewee, Jim Sinclair, is a billionaire, 50+ year investor, one of the 'old lions' of Wall Street. Sinclair’s father, Bert Seligman was the business partner of the legendary Jesse Livermore, the "Great Bear of Wall Street" (Livermore traded from the 1890's to 1940).



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Breaking:5 Major US banks face massive (trillions) default on credit default swaps within weeks (Original Post) stockholmer Jan 2012 OP
I would not mind seeing these banks go down the tubes tabatha Jan 2012 #1
Don't worry. Those banks won't go down until the day OffWithTheirHeads Jan 2012 #3
Gawd I hope Obama does not do something about this that would blow Nov. NAO Jan 2012 #2
What will happen? BlueToTheBone Jan 2012 #4
see my new boildown post below. Either way ISDA calls it, there will be huge ramifications, & Greece stockholmer Jan 2012 #8
Your analysis could use a bit of work jeff47 Jan 2012 #10
A further boildown: It will be the big banks (who control ISDA) vs everybody else (pension funds, stockholmer Jan 2012 #5
Reading some European blogs over the past several months, this is not a surprise really. sabrina 1 Jan 2012 #6
Doesn't it have to be a forced 'haircut' Owlet Jan 2012 #7
the creditors (just about every conceivable type, including massive pension funds, etc) are balking stockholmer Jan 2012 #9
The quadrillion dollar question.... Cartaphelius Jan 2012 #11
yes, shred the derivatives, have a general debt jubilee,nationalize ALL the central banks, which are stockholmer Feb 2012 #12
amazing information and thank you xiamiam Feb 2012 #13
thanks so much for the kind words, Im just a student of what Peter Dale Scott calls 'deep politics' stockholmer Feb 2012 #16
tack sa mycket! Demeter Feb 2012 #15
varsågod! stockholmer Feb 2012 #17
Holy shit! Thank you Stockholmer. Well done. n/t Hotler Feb 2012 #14
Canada's National Bank PDJane Feb 2012 #18
What does it really mean for the guy on the street. Badsam Feb 2012 #19

tabatha

(18,795 posts)
1. I would not mind seeing these banks go down the tubes
Tue Jan 31, 2012, 04:26 PM
Jan 2012

Morgan Stanley, Wells Fargo, Citibank, and JP Morgan. Goldman Sachs.

Unfortunately, a lot of people will be hurt.

NAO

(3,425 posts)
2. Gawd I hope Obama does not do something about this that would blow Nov.
Tue Jan 31, 2012, 04:40 PM
Jan 2012

any kind of bailout would enrage the entire electoral block and (whoever) would win in a landslide.

BlueToTheBone

(3,747 posts)
4. What will happen?
Tue Jan 31, 2012, 04:46 PM
Jan 2012

Will we drop into another recession? Housing drops again? Cities default? People lose jobs left and right?

I'm truly being serious. Also, in the end, how will it affect the average person?

 

stockholmer

(3,751 posts)
8. see my new boildown post below. Either way ISDA calls it, there will be huge ramifications, & Greece
Tue Jan 31, 2012, 05:25 PM
Jan 2012

is just the tip of the iceberg. When you adjust for inflation (even the Fed's pure rot, hedonically twisted-to-hell numbers), the US economy is already (actually it never left) in 'recession'. The EU is mostly deep into it already (and for all the talk of China, the EU is the US's biggest trading partner).

The Fed has already announced QE3, which will further erode the US dollar, and further crush the purchasing power of the 99%. It will also drive up equity prices, so the Wall Street boys will be singing 'happy days are here again' when in reality they are actually Nero, fiddling as Rome burns.

If the big banksters OR the other side of these CDS's (again, imagine having to bail out CalPERS) need trillions in bailouts, the level of money printing will set a hyper-inflationary course that will explode within a 2 year period, MAX, if not much sooner. This will then ne floowed by a delationary depression the likes of which will make the 1930's seem like a cakewalk.

ALL the governments in the world have been kicking the can down the road. There soon will be no more road to kick upon. I have been fairly accurate in my timeframe gauging of this since 2006, and especially since 2007, when Countrywide went belly up, followed by Northern Rock in the UK.

I said at the time that if the derivative debts were not shredded, the 20 or so largest private banks globally liquidated, and the central banking systems of the globe were not nationalized, (with a debt jubilee included), then you would eventually have multiple currency extinction events by 2015, and a nightmarish outcome (in many parts of the world civilisational collapse and/or semi-global wars started as power presevation projections) by 2017.

The US is already undergoing systemic underming of its dollar as the global reserve currency. This status is all that keeps the empire afloat. China, Russia, India, Brasil, Iran, soon even Japan, etc, are all cutting bi-lateral trade deals in their OWN currencies (or gold for oil, like India and Iran). The US will (with the banksters in utter control as they are of the Fed and the government, thus the military) go to war to stop this at any cost. Ask Sadam amd Ghaddafi about this (both were attempting to pull of of the petro-dollar lock-up and were invaded within months).

Hard times are coming all our myriad ways.

jeff47

(26,549 posts)
10. Your analysis could use a bit of work
Tue Jan 31, 2012, 07:27 PM
Jan 2012
The Fed has already announced QE3, which will further erode the US dollar, and further crush the purchasing power of the 99%

Inflation's roughly 0. http://www.bls.gov/news.release/cpi.nr0.htm

It's a little hard to declare "eroding of the dollar is destroying purchasing power" when prices aren't going up. If you are going to claim QE3 is going to cause massive inflation, you'll have to explain why QE1 and QE2 didn't cause massive inflation despite the same predictions of doom.

The US is already undergoing systemic underming of its dollar as the global reserve currency

And replacing it with......? The Euro? Don't make me laugh. The Yuan? They'd have to let it float freely first, and they can't do that without crippling exports and thus sending China into chaos. There's a long-term danger here, but this isn't going to change in the next decade. Euro just blasted itself in the foot as the world's trading currency, and there's nothing else remotely viable, for now.

This status is all that keeps the empire afloat.

You VASTLY overstate the benefit. It's roughly 0.1% GDP. http://web.mit.edu/krugman/www/seignor.html

China, Russia, India, Brasil, Iran, soon even Japan, etc, are all cutting bi-lateral trade deals in their OWN currencies

Um....we care because? They're transactions that don't involve the US. The only "benefit" we would get from these transactions literally being in suitcases full of dollars is a slightly higher exchange rate. Which is gonna hurt that 99% a lot more than help, since that makes foreign goods cheaper.

In reality, the deals aren't done with suitcases full of cash. Instead, international banks hold some reserves in the NY Fed to have 'dollars' and just move the appropriate numbers of Rubles and Yen into the appropriate accounts. Real money isn't used, just bits in computers with a small portion in real money reserves. The benefit here is a relatively small 0-interest loan to the NY Fed from that international bank. Losing that wouldn't hurt much.

Ask Sadam amd Ghaddafi about this (both were attempting to pull of of the petro-dollar lock-up and were invaded within months).

You got the order backwards there. It was clear W was about to invade, so Sadam started making noise about OPEC switching to Euros. 'Round about the time we refused Sadam's offer to let arms inspectors return to Iraq. Similar with Ghaddafi - the "let's not use dollars!!" push happened after it was clear hostilities would be occurring shortly.

Hard times are coming all our myriad ways.

Yes, but only because our economy is run by morons. On the plus side, the economy of everyone in the advanced world is currently being run by morons, so our relative position is secure.
 

stockholmer

(3,751 posts)
5. A further boildown: It will be the big banks (who control ISDA) vs everybody else (pension funds,
Tue Jan 31, 2012, 04:55 PM
Jan 2012

hedge funds, other nation's, states, municipalities, etc etc).

If ISDA says a write down on Greek debt to 30% is NOT a default, then ALL the entities who purchased insurance (credit default swaps) on their investments in Greek bonds will be wiped out (just like MF Global was).

This will quickly spiral out of control, and hundreds of millions of people worldwide will be indirectly or directly affected. Imagine if your entire union or state pension fund is wiped out. Imagine if the broker who was all your IRA money is bankrupted, and then seizes your money, even though you never lost anything in the market.

If ISDA says it IS a default, the 5 big US banks will be crushed, and this will also trigger a spiral. They will literally go to war to blackmail the world for tens of trillions in bailouts.

It is a classic clusterfuck, and this is all based off a writedown in greek debt to 30%. I truly belive that by years end, there will be a 100% writedown by Greece, as they are already facing an ever-growing danger of looming civil war. The unemployent rate of 30 year olds and younger is over 50%.

And finally, it gets worse, as Portugal, Hungary, Ireland, and the bigger nightmares of Spain and Italy impending defaults loom ever closer.

sabrina 1

(62,325 posts)
6. Reading some European blogs over the past several months, this is not a surprise really.
Tue Jan 31, 2012, 04:59 PM
Jan 2012

All indications have been that there is no way to stop the next crash, all they are doing is putting it off, to use a phrase I often see from economists, 'kicking the can down the road'.

Owlet

(1,248 posts)
7. Doesn't it have to be a forced 'haircut'
Tue Jan 31, 2012, 05:09 PM
Jan 2012

for it to be a Credit Event? My (albeit limited) understanding is that if the private bondholders of Greek sovereign debt agree to take a hit of 60-70-80% VOLUNTARILY then ISDA cannot (and will not) declare a credit event. That's what all the negotiating has been about for the past 8 months, most intensely over the past 6 weeks. The deadline is March 20 when Greece has to pony up 145bn euros to pay off a bond series. They have to borrow the money to do so, and as of now no one - not even the ECB - will lend them a eurocent until the current negotiations are favorably concluded. Again, this is my understanding. If I've gone off track somewhere I'd appreciate knowing where.

 

stockholmer

(3,751 posts)
9. the creditors (just about every conceivable type, including massive pension funds, etc) are balking
Tue Jan 31, 2012, 05:37 PM
Jan 2012

to an extreme level that this new drop from 50% to 30% will NOT be voluntary. The banksters and their bought-and-paid for governments are trying to strongarm all on this losing side of the trade (including all the other 'non CDS-issuing' banks such as the already collapsed Dexia, etc) into taking yet another stab to gut, even though this will wipe out millions of people's entire savings, and cause other secondary and tertiary debt spirals/economic contractions.

I call it the accordian push-pull collapse matrix. The bellows pulls out (ie quantitative easing and massive bailouts) to stave of the banks collapse, then that action sucks other entities into the air chamber, till it becomes too full, and a violent expulsion of air is let out in a sudden, destructive inward contraction. With each accordian manoeuvre, the notes become more shrill, more bellicose, and more sour. Eventually, the elasticity of the bellows is exhausted, and the instrument is rendered utterly dysfunctional.

You have a command of the issues greater than literally 99.99% of people, btw. In other words, the average person has NO clue what is about to hit them over the next several months, and especially (as I eleobarated in my relies in this thread) what life will be like by 2015 to 2017.

 

Cartaphelius

(868 posts)
11. The quadrillion dollar question....
Tue Jan 31, 2012, 10:30 PM
Jan 2012

I have sought to better understand the impact of the CDS/CDO debt obligation and their potential impact. From your description of the coming demise of the major banks and ultimately the world is inescapable. However ignorant of the big picture as I am, a way out of this does exist.

As all of the "debt" is technically theoretical, wouldn't the easiest, quickest and most effective solution would be to fail to recognize the debt?

Thanks for your time and previous posts..very enlightening while deeply disturbing.

 

stockholmer

(3,751 posts)
12. yes, shred the derivatives, have a general debt jubilee,nationalize ALL the central banks, which are
Wed Feb 1, 2012, 04:13 AM
Feb 2012

now owned by a few private networks. At the epicenter how will find the same 30 to 50 global families/networks over and over, inside thousands of layers of centuries-long indirect control , shell corporations, central bank ownership, sovereign debt (thus nation state) control, etc.


The old family foundations need to be dismantled (Rockefeller, Ford, Rhodes, Carnegie, etc etc etc), then you take out or nationalize the BIS (the most powerful financial entity in the world, it is the central banks' central bank), the IMF, World Bank, Fed Reserve, ECB, Bank of England, BOC, The City of London Crown Corporations (these are NOT the Royal family per se, but the royals are partial owners), the CFR and its parent, the Royal Institute for Foreign Affairs, etc etc.

Names? Here are some (many of these network/families are centuries old, and are now in the shadows, whilst still retaining untold power) :

You then slam the heads of these networks of systemic control all in a trial dock, then a cell or a noose (I am anti death penalty, but I think the world will not be so forgiving for the hundreds of millions of deaths these scum have caused over the last 500 to 700 years or so) .......... the Lazards, Oppenheimers, Rockefellers, Rothschilds, Barings, Seligmans, the Speyers, Mirabauds, Mallets, Foulds, Erlangers, Morgans, Schiffs, the house of Li Ka-shing (China), House of Kwok (China), the Bundys, Collins, Cecils, van Duyns, Freemans, DuPonts, Mitals (India), Krupps, Schroders, Kuhns, Loebs, Seifs (Italy), Astors, Saxe-Coberg Gothas (the British Royal House of Windsor), den Huis van Oranje-Nassau (Royal House of Holland), Sassoons, Orsinis, Somaglias, Breakspears, Aldobraninis, Farneses, and Warburgs at the lead.

That will be a start, I think there is a chance the world will find levels even above these. Names we have never heard of perhaps. I leave that to the discovery process.

---------------------

Here is chart of ownership of the US Federal Reserve, courtesy of your own US Congress:

http://www.lawfulpath.com/ref/federal_reserve.shtml

Federal Reserve Directors: A Study of Corporate and Banking Influence. Staff Report,Committee on Banking,Currency and Housing, House of Representatives, 94th Congress, 2nd Session, August 1976.


N.M. Rothschild , London - Bank of England
______________________________________
| |
| J. Henry Schroder
| Banking | Corp.
| |
Brown, Shipley - Morgan Grenfell - Lazard - |
& Company & Company Brothers |
| | | |
--------------------| -------| | |
| | | | | |
Alex Brown - Brown Bros. - Lord Mantagu - Morgan et Cie -- Lazard ---|
& Son | Harriman Norman | Paris Bros |
| | / | N.Y. |
| | | | | |
| Governor, Bank | J.P. Morgan Co -- Lazard ---|
| of England / N.Y. Morgan Freres |
| 1924-1938 / Guaranty Co. Paris |
| / Morgan Stanley Co. | /
| / | \Schroder Bank
| / | Hamburg/Berlin
| / Drexel & Company /
| / Philadelphia /
| / /
| / Lord Airlie
| / /
| / M. M. Warburg Chmn J. Henry Schroder
| | Hamburg --------- marr. Virginia F. Ryan
| | | grand-daughter of Otto
| | | Kahn of Kuhn Loeb Co.
| | |
| | |
Lehman Brothers N.Y -------------- Kuhn Loeb Co. N. Y.
| | --------------------------
| | | |
| | | |
Lehman Brothers - Mont. Alabama Solomon Loeb Abraham Kuhn
| | __|______________________|_________
Lehman-Stern, New Orleans Jacob Schiff/Theresa Loeb Nina Loeb/Paul Warburg
- ------------------------- | | |
| | Mortimer Schiff James Paul Warburg
_____________|_______________/ |
| | | | |
Mayer Lehman | Emmanuel Lehman \
| | | \
Herbert Lehman Irving Lehman \
| | | \
Arthur Lehman \ Phillip Lehman John Schiff/Edith Brevoort Baker
/ | Present Chairman Lehman Bros
/ Robert Owen Lehman Kuhn Loeb - Granddaughter of
/ | George F. Baker
| / |
| / |
| / Lehman Bros Kuhn Loeb (1980)
| / |
| / Thomas Fortune Ryan
| | |
| | |
Federal Reserve Bank Of New York |
|||||||| |
______National City Bank N. Y. |
| | |
| National Bank of Commerce N.Y ---|
| | \
| Hanover National Bank N.Y. \
| | \
| Chase National Bank N.Y. \
| |
| |
Shareholders - National City Bank - N.Y. |
- ----------------------------------------- |
| /
James Stillman /
Elsie m. William Rockefeller /
Isabel m. Percy Rockefeller /
William Rockefeller Shareholders - National Bank of Commerce N. Y.
J. P. Morgan -----------------------------------------------
M.T. Pyne Equitable Life - J.P. Morgan
Percy Pyne Mutual Life - J.P. Morgan
J.W. Sterling H.P. Davison - J. P. Morgan
NY Trust/NY Edison Mary W. Harriman
Shearman & Sterling A.D. Jiullard - North British Merc. Insurance
| Jacob Schiff
| Thomas F. Ryan
| Paul Warburg
| Levi P. Morton - Guaranty Trust - J. P. Morgan
|
|
Shareholders - First National Bank of N.Y.
- -------------------------------------------
J.P. Morgan
George F. Baker
George F. Baker Jr.
Edith Brevoort Baker
US Congress - 1946-64
|
|
|
|
|
Shareholders - Hanover National Bank N.Y.
- ------------------------------------------
James Stillman
William Rockefeller
|
|
|
|
|
Shareholders - Chase National Bank N.Y.
- ---------------------------------------
George F. Baker



--------------------------------------------------------------------------------

Chart 2
Source: ** Federal Reserve Directors: A Study of Corporate and Banking Influence ** - - Published 1983

The J. Henry Schroder Banking Company chart encompasses the entire history of the twentieth century, embracing as it does the program (Belgium Relief Commission) which provisioned Germany from 1915-1918 and dissuaded Germany from seeking peace in 1916; financing Hitler in 1933 so as to make a Second World War possible; backing the Presidential campaign of Herbert Hoover ; and even at the present time, having two of its major executives of its subsidiary firm, Bechtel Corporation serving as Secretary of Defense and Secretary of State in the Reagan Administration.

The head of the Bank of England since 1973, Sir Gordon Richardson, Governor of the Bank of England (controlled by the House of Rothschild) was chairman of J. Henry Schroder Wagg and Company of London from 1963-72, and director of J. Henry Schroder, New York and Schroder Banking Corporation, New York, as well as Lloyd's Bank of London, and Rolls Royce. He maintains a residence on Sutton Place in New York City, and as head of "The London Connection," can be said to be the single most influential banker in the world.

J. Henry Schroder
-----------------
|
|
|
Baron Rudolph Von Schroder
Hamburg - 1858 - 1934
|
|
|
Baron Bruno Von Schroder
Hamburg - 1867 - 1940
F. C. Tiarks |
1874-1952 |
| |
marr. Emma Franziska |
(Hamburg) Helmut B. Schroder
J. Henry Schroder 1902 |
Dir. Bank of England |
Dir. Anglo-Iranian |
Oil Company J. Henry Schroder Banking Company N.Y.
|
|
J. Henry Schroder Trust Company N.Y.
|
|
|
___________________|____________________
| |
Allen Dulles John Foster Dulles
Sullivan & Cromwell Sullivan & Cromwell
Director - CIA U. S. Secretary of State
Rockefeller Foundation
Prentiss Gray
------------
Belgian Relief Comm. Lord Airlie
Chief Marine Transportation -----------
US Food Administration WW I Chairman; Virgina Fortune
Manati Sugar Co. American & Ryan daughter of Otto Kahn
British Continental Corp. of Kuhn,Loeb Co.
| |
| |
M. E. Rionda |
------------ |
Pres. Cuba Cane Sugar Co. |
Manati Sugar Co. many other |
sugar companies. _______|
| |
| |
G. A. Zabriskie |
--------------- | Emile Francoui
Chmn U.S. Sugar Equalization | --------------
Board 1917-18; Pres Empire | Belgian Relief Comm. Kai
Biscuit Co., Columbia Baking | Ping Coal Mines, Tientsin
Co. , Southern Baking Co. | Railroad,Congo Copper, La
| Banque Nationale de Belgique
Suite 2000 42 Broadway | N. Y |
__________________________|___________________________|
| | |
| | |
Edgar Richard Julius H. Barnes Herbert Hoover
------------- ---------------- --------------
Belgium Relief Comm Belgium Relief Comm Chmn Belgium Relief Com
Amer Relief Comm Pres Grain Corp. U.S. Food Admin
U.S. Food Admin U.S. Food Admin Sec of Commerce 1924-28
1918-24, Hazeltine Corp. 1917-18, C.B Pitney Kaiping Coal Mines
| Bowes Corp, Manati Congo Copper, President
| Sugar Corp. U.S. 1928-32
|
|
|
John Lowery Simpson
- -------------------
Sacramento,Calif Belgium Relief |
Comm. U. S. Food Administration Baron Kurt Von Schroder
Prentiss Gray Co. J. Henry Schroder -----------------------
Trust, Schroder-Rockefeller, Chmn Schroder Banking Corp. J.H. Stein
Fin Comm, Bechtel International Bankhaus (Hitler's personal bank
Co. Bechtel Co. (Casper Weinberger account) served on board of all
Sec of Defense, George P. Schultz German subsidiaries of ITT . Bank
Sec of State (Reagan Admin). for International Settlements,
| SS Senior Group Leader,Himmler's
| Circle of Friends (Nazi Fund),
| Deutsche Reichsbank,president
|
|
Schroder-Rockefeller & Co. , N.Y.
- ---------------------------------
Avery Rockefeller, J. Henry Schroder
Banking Corp., Bechtel Co., Bechtel
International Co. , Canadian Bechtel
Company. |
|
|
|
Gordon Richardson
-----------------
Governor, Bank of England
1973-PRESENT C.B. of J. Henry Schroder N.Y.
Schroder Banking Co., New York, Lloyds Bank
Rolls Royce



--------------------------------------------------------------------------------

Chart 3
Source: ** Federal Reserve Directors: A Study of Corporate and Banking Influence ** - - Published 1976

The David Rockefeller chart shows the link between the Federal Reserve Bank of New York, Standard Oil of Indiana, General Motors and Allied Chemical Corportion (Eugene Meyer family) and Equitable Life (J. P. Morgan).


DAVID ROCKEFELLER
- ----------------------------
Chairman of the Board
Chase Manhattan Corp
|
|
______|_______________________
Chase Manhattan Corp. |
Officer & Director Interlocks|---------------------
------|----------------------- |
| |
Private Investment Co. for America Allied Chemicals Corp.
| |
Firestone Tire & Rubber Company General Motors
| |
Orion Multinational Services Ltd. Rockefeller Family & Associates
| |
ASARCO. Inc Chrysler Corp.
| |
Southern Peru Copper Corp. Intl' Basic Economy Corp.
| |
Industrial Minerva Mexico S.A. R.H. Macy & Co.
| |
Continental Corp. Selected Risk Investments S.A.
| |
Honeywell Inc. Omega Fund, Inc.
| |
Northwest Airlines, Inc. Squibb Corporation
| |
Northwestern Bell Telephone Co. Olin Foundation
| |
Minnesota Mining & Mfg Co (3M) Mutual Benefit Life Ins. Co. of NJ
| |
American Express Co. AT & T
| |
Hewlett Packard Pacific Northwestern Bell Co.
| |
FMC Corporation BeachviLime Ltd.
| |
Utah Intl' Inc. Eveleth Expansion Company
| |
Exxon Corporation Fidelity Union Bancorporation
| |
International Nickel/Canada Cypress Woods Corporation
| |
Federated Capital Corporation Intl' Minerals & Chemical Corp.
| |
Equitable Life Assurance Soc U.S. Burlington Industries
| |
Federated Dept Stores Wachovia Corporation
| |
General Electric Jefferson Pilot Corporation
| |
Scott Paper Co. R. J. Reynolds Industries Inc.
| |
American Petroleum Institute United States Steel Corp.
| |
Richardson Merril Inc. Metropolitan Life Insurance Co.
| |
May Department Stores Co. Norton-Simon Inc.
| |
Sperry Rand Corporation Stone-Webster Inc.
| |
San Salvador Development Company Standard Oil of Indiana



--------------------------------------------------------------------------------

Chart 4
** Federal Reserve Directors: A Study of Corporate and Banking Influence ** - - Published 1976

This chart shows the interlocks between the Federal Reserve Bank of New York J. Henry Schroder Banking Corp., J. Henry Schroder Trust Co., Rockefeller Center, Inc., Equitable Life Assurance Society ( J.P. Morgan), and the Federal Reserve Bank of Boston.


Alan Pifer, President
Carnegie Corporation
of New York
- ----------------------
|
|
- ----------------------
Carnegie Corporation
Trustee Interlocks --------------------------
---------------------- |
| |
Rockefeller Center, Inc J. Henry Schroder Trust Company
| |
The Cabot Corporation Paul Revere Investors, Inc.
| |
Federal Reserve Bank of Boston Qualpeco, Inc.
|
Owens Corning Fiberglas
|
New England Telephone Co.
|
Fisher Scientific Company
|
Mellon National Corporation
|
Equitable Life Assurance Society
|
Twentieth Century Fox Corporation
|
J. Henry Schroder Banking Corporation



--------------------------------------------------------------------------------

Chart 5
Source: ** Federal Reserve Directors: A Study of Corporate and Banking Influence ** - - Published 1976

This chart shows the link between the Federal Reserve Bank of New York, Brown Brothers Harriman,Sun Life Assurance Co. (N.M. Rothschild and Sons), and the Rockefeller Foundation.


Maurice F. Granville
Chairman of The Board
Texaco Incorporated
- ----------------------
|
|
Texaco Officer & Director Interlocks ---------- Liggett & Myers, Inc.
- ------------------------------------ |
| |
| |
L Arabian American Oil Company St John d'el Ray Mining Co. Ltd.
O | |
N Brown Brothers Harriman & Co. National Steel Corporation
D | |
O Brown Harriman & Intl' Banks Ltd. Massey-Ferguson Ltd.
N | |
American Express Mutual Life Insurance Co.
| |
N. American Express Intl' Banking Corp. Mass Mutual Income Investors Inc.
M. | |
Anaconda United Services Life Ins. Co.
R | |
O Rockefeller Foundation Fairchild Industries
T | |
H Owens-Corning Fiberglas Blount, Inc.
S | |
C National City Bank (Cleveland) William Wrigley Jr. Co
H | |
I Sun Life Assurance Co. National Blvd. Bank of Chicago
L | |
D General Reinsurance Lykes Youngstown Corporation
| |
General Electric (NBC) Inmount Corporation


----------------------------



'Super-Entity' Of 147 Companies At Center Of World's Economy (complex physical modeling study from ETH Zurich University)

Bear in mind, this 2011 study is based on 2007 data, so the global 2008-onwards crash has even further consolidated control.

http://www.huffingtonpost.ca/2011/10/24/super-entity-147-global-economy-swiss-researchers_n_1028690.html

http://www.forbes.com/sites/bruceupbin/2011/10/22/the-147-companies-that-control-everything/

Three systems theorists at the Swiss Federal Institute of Technology in Zurich have taken a database listing 37 million companies and investors worldwide and analyzed all 43,060 transnational corporations and share ownerships linking them. They built a model of who owns what and what their revenues are and mapped the whole edifice of economic power.

They discovered that global corporate control has a distinct bow-tie shape, with a dominant core of 147 firms radiating out from the middle. Each of these 147 own interlocking stakes of one another and together they control 40% of the wealth in the network. A total of 737 control 80% of it all. The top 20 are at the bottom of the post. This is, say the paper’s authors, the first map of the structure of global corporate control.

snip

The Report:

http://arxiv.org/PS_cache/arxiv/pdf/1107/1107.5728v2.pdf

------------------------


Good luck with getting any of this done, fighting this 500 to 700 year-entrenched level of systemic control.






xiamiam

(4,906 posts)
13. amazing information and thank you
Wed Feb 1, 2012, 11:16 PM
Feb 2012

I find myself searching for your posts here. I never paid attention before my financial life took a left turn after 2008. I was in a middle class bubble and la de da ing my way to retirement. Then the collapse. I knew a crime was being committed even though the talking points were well placed and deflected attention. I've read and watched everything I could find since then because I wanted to know who and why. This is the first time I've actually seen, in print, the relationships of TPTB. Truthfully, I still don't understand much of it although a lot more than a few years ago and I feel helpless to change any of it..BUT there is a tremendous amount of power in knowing what the hell is going on.
This post is extraordinary..even for you. I've been thinking that I should thank you for your regular contributions here..this seems to be the perfect opportunity.

 

stockholmer

(3,751 posts)
16. thanks so much for the kind words, Im just a student of what Peter Dale Scott calls 'deep politics'
Thu Feb 2, 2012, 04:10 PM
Feb 2012

PDJane

(10,103 posts)
18. Canada's National Bank
Thu Feb 2, 2012, 07:51 PM
Feb 2012

is not in private hands. It's an arm of the government.

The firewall between private and investment banking remains in place. Harper is taking credit for that; it's not his fault. He tried to 'Americanize' the Canadian banking system and could get no-one to go along with him at the time.

 

Badsam

(180 posts)
19. What does it really mean for the guy on the street.
Thu Feb 2, 2012, 11:28 PM
Feb 2012

Since I have already lost my house, how is this going to change my life? I have thought this debt crisis was the prelude to WWIII.

The talk of India and China buying Iranian oil with gold, and a sinking dollar no OPEC country wants was going to be the thing that kicked it off.


What does it mean please

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