Every Dog Has Its Day

[Taurean]

BLYTHE MASTERS, - DESTROYER OF WORLDS

The woman who built financial 'weapon of mass destruction'

The Exxon Valdez disaster, which occurred on March 24, 1989, played a major role in the collapse of the economy some 19 years later. See, as Stein documented, after lengthy litigation, Exxon managed to get the amount of punitive compensatory damages reduced from the hoped-for $5 billion to a paltry $500 million. But, back when Exxon had reason to imagine it might actually have to part with the $5 billion, the oil giant needed to find a way to cover its hindquarters. Exxon found a savior in the form of J.P. Morgan & Co., who extended the beleaguered company a line of credit in the amount of $4.8 billion.

Of course, that put J.P. Morgan on the hook for any potential judgment against Exxon. So the bank went looking for a way to mitigate that risk. Its solution made history, which you can read about in a June 2009 piece from the New Yorker's John Lancaster, entitled "Outsmarted." Here's the relevant portion:

In late 1994, Blythe Masters, a member of the J. P. Morgan swaps team, pitched the idea of selling the credit risk to the European Bank of Reconstruction and Development. So, if Exxon defaulted, the E.B.R.D. would be on the hook for it--and, in return for taking on the risk, would receive a fee from J. P. Morgan. Exxon would get its credit line, and J. P. Morgan would get to honor its client relationship but also to keep its credit lines intact for sexier activities. The deal was so new that it didn't even have a name: eventually, the one settled on was "credit-default swap."

With other mathematicians of the JP Morgan Bank, the English Blythe Masters has developed a magic formula that transformed the paper into gold and that made the bankers completely crazy.
Undisclosed, Blythe Masters is yet, as the saying goes the Guardian of London " the woman who invented the financial weapons of mass destruction ". According to Newsweek , these weapons have " unleashed a monster "that is still destroying the world economy, until the inevitable universal bankruptcy.

Indeed, banks are still hiding a large part of the 55,000 billion of toxic loans they will never see their balance sheets.

Pierre Jovanovic traces in this book how the extraordinary destiny of this young graduate of Cambridge has unwittingly crossed with hundreds of millions of people made redundant by the effects of the crisis, simply because all the bankers of the world have listened , fascinated, his gospel of credit default swaps at the point they ended up copying and abuse its formula "magic". Formula that takes them, even now, with their loss.

An incredible and relentless investigation that reveals how arrogant and stupid bankers have transferred losses from their irresponsible actions on the portfolio of each taxpayer (including yours) . 272 pages, € 19.9.

Source: https://youtube.com/watch?v=hvCvPBN6d94

[Cidersomerset]

Thanks Taurean, he is spelling out what has been set up for years. For at least 40 years and probably earlier as we know most decisions at the top
have been planned. Its was, and is common knowledge that the babyboomers of the sixties were not going to get the pensions promised and sold to
them by polititions. Many company pensions have folded in the UK over the past 30 years and various PM's have mentioned it over the years, but
now we are in the position where the Banks are pillaging the pension funds before they start collapsing. This will effect the west more than other
areas as it was a good way to make people save for the future, knowing at some time these 'Banksters' had no intention of paying out.
Its like a pyrimid scheme those at the bottom pay those at the top....But if there are less contributing at the bottom , they cannot pay the
full value of the pension for those at the top of the pyrimid....Pensioners in this case.

Don't worry JP Morgan and other 'Banksters have taken their cut'......The corporations own everything, food, fuel metals etc....
This has been pointed out by the alternate media , these crooks have monopolized everything and our polititons must know it !!

All this confirms is we are still '=rewed' by the elites, which is nothing new .....

FINANCIAL WEAPONS OF MASS DESTRUCTION'S MASTER!

Source: https://youtube.com/watch?v=xfxAMPXVU5Q

Quote " A lack of transparency to the regulator " in such innocent language"...

If I tell you I selling you something for £100 pounds then take £ 500 pounds
out of your bank I would be commiting fraud and ripping you off...

How come when 'Banksters' do its the markets fault and we have to bale out
the crooks something is very wrong !!!