Banking tricksters…

Good morning,
this is just a heads up.
I’m not sure if you have actually read all of my book 2 YEARS IN A TENT – but in the Tentonomics section I mention algorithms and how derivatives created the depressive situation that forced us into a tent. In todays New York Times is a good article about what is still going on with banks and why you might need to care.

“Under American accounting rules, banks that trade a lot of derivatives can keep literally trillions of dollars in assets and liabilities off their balance sheets. Since 2009, they have at least been required to make disclosures about how large those amounts are, but the disclosures leave out some things and — amazingly enough — in some cases do not seem to add up.

The international accounting rules are different. They also allow some assets to vanish…..

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