Cautionary

Still Wary of Those Financial Weapons of Mass Destruction [View article] Derivatives at the heart of the crisis, catastrophic losses are inevitable, financial system is headed for oblivion.It is this powder keg that has everyone trembling with fear and foreboding, because the inevitable losses will be catastrophic, with losses which may exceed the entire world's GDP, thus obliterating the balance sheets of every major Wall Street commercial bank, including the Fed itself, while virtually every major bank and financial institution in nations throughout the world join them on the receiving end of a destructive juggernaut of loss, insolvency, failure and bankruptcy. In the aftermath, most will be nationalized. The entire world financial system is headed for oblivion, and there is nothing on earth that can stop it. All they can do currently is try to delay and hide the destruction so that they can continue to milk their Ponzi system dry, ripping off the sheople in one final orgy of fraud and profligacy before the government and financial system are merged into an all-powerful super-entity that will rule all non-insider institutions with an iron fist. Frankly, from what i have seen lately, we are already there. The final step to nationalization of our financial system will be little more than a formality. The stage is set, there is no way to avoid the global losses on 500 trillion dollars, the losses are already there, they just have not be realized yet. Throwing 12 trillion dollars at a 200 trillion hole is like filling a bathtub with a squirtgun.These market rallies up and down are simply window dressing to as Warren Buffett says "Mass Destruction". The upside is that we get to start over again. lets hope we get it right next time.