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Sunday July 5, 2015
It is the Numbers Crunch
by Tom Heneghan, International Intelligence Expert
UNITED States of America - It
can now be reported that the combined Greek, Italian, Portugal and
Spain euro debt represents $120 trillion of derivative debt aka I.O.U.s
between banks.
At
this hour we can also report that the latest IMF (International
Monetary Fund) audit of the European Central Bank (ECB) shows that the
ECB has no cash or liquidity in the system only derivative debt that
compounds every day.
Note: Accordingly, ECB President Mario Draghi has his hands tied.
P.S.
It can also be reported that U.S. banking giant JPMorgan is totally
exposed as a counter party to the $120 trillion in euro debt linked to
the European Union (EU) and the European Central Bank.
In
closing, today's referendum in Greece almost becomes irrelevant given the
release of the IMF audit on the ECB, which is in itself will create massive
contagion for all worldwide banks who use proprietary trading to rig worldwide
markets with derivatives being used as collateral aka margin.