We will have a mirror site at http://nunezreport.wordpress.com in case we are censored, Please save the link

Friday, September 26, 2014

David Cameron Says Non-Violent Conspiracy Theorists Are Just As Dangerous As ISIS

If you report what they are doing wrong you are equivalent to someone who beheads people ... wake up!!! 
Please see what they want to convert those who do not believe their lies.


David Cameron told the U.N. that "non-violent extremism" is just as dangerous as terrorism and must be eradicated using all means at the government's disposal. He references 9/11 and 7/7 Truthers as examples of the type of extremism that must be dealt in a similar fashion to ISIS.

If you thought Obama's War is Peace speech to the U.N. was creepy, wait until you get a load of this. Cameron is officially announcing a the plan to use a full assault on dissenting views.


Credit to Activist Post
Read more at http://www.activistpost.com/2014/09/david-cameron-says-non-violent.html#ffU2o0RStEv7jGhG.99

VERY GRAPHIC Public Beheading in Saudi Arabia Sep 19, 2014

PREPARE , WE ARE ON THE BRINK OF A VERY SERIOUS COLLAPSE THAT WILL END WITH CURRENCY TURMOIL, FOOD SHORTAGES, PANIC, SOCIAL UNREST AND A TOTAL SHAKEDOWN OF AVERAGE CITIZENS.

Well known investor Jim Rogers, who made his fortune during the 1970′s crisis by investing in commodities like precious metals, has long-warned about the calamity faced by, not just America, but the world as a whole.
jim-rogers
Rogers understands that we are living in perilous times, and that actions by governments, finance ministers and officials across the globe have left us on the brink of a very serious collapse that will end with currency turmoil, food shortages, panic, social unrest and a total shakedown of average citizens.
Now, with Europe having taken the unprecedented step of seizing private funds of depositors, Rogers suggest that time is running short and that those with the means to do so should get ready for the worst:
It’s pretty scary what’s going on in Europe…when they start taking money out of people’s bank accounts. I, for one, am making sure I don’t have too much money in any single bank account anywhere in the world.
Now there is a precedent…The IMF has said loot the bank accounts. The EU has said loot the bank accounts.
So you can be sure that other countries, when the problems come, are going to say… let’s do it too.
 …They’re going to go crazy the next time around.
It’s going to happen. Of course it’s going to happen…
It’s politicians who are telling you it’s a special case… oh, don’t worry, don’t worry, don’t worry.
What more do you need to know?
When politicians are saying ‘You don’t have to worry’…
Please, you better hurry, you better run for the hills. I’m doing it anyway.
I want to make sure that I don’t get trapped.
Think of all the poor souls that just thought they had a simple bank account. Now they find out that they are making a ‘contribution’ to the stability of Cyprus. The gall of these politicians.
Don’t trust any government. If you’re going to listen to government, you’re going to go bankrupt very quickly.
Credit to Bioprepper.com 

Barbarians in Our Midsts

It’s one thing to read news articles detailing horrors of radical Islamists and quite another to run up against these people firsthand. This is what happened to a personal friend in Australia two days ago. We all need to pay attention to this – especially we women.
Last evening when I spoke with a girlfriend in Queensland, Patricia was uncharacteristically subdued. No bubbly enthusiasm spilling over. Since we often talk a couple times a week, her ‘off’ mood was immediately apparent. Normally she greets a ‘hello’ with ‘it’s only me’ and a giggle, and we’re off and running into a newsy, fun conversation. Usually an hour slips away without either of us noticing.
She’ll share the latest ridiculous stuff done by their government and of course, Obama and Congress offer no shortage of material here. Last night there were no amusing tales about their animals like Bailey, their newest German Shepherd, chewing holes in the wall or ‘redesigning’ a table leg; no stories about work layoffs in the car and mining industries, no news about her latest foray into natural remedies or business challenges of people ripping off her work. Instead Patricia relayed the following sobering encounter.
Since her husband, Mike, was enjoying a 3-week vacation, he accompanied her to Coles – a major grocery chain much like Safeway, Kroger or Winn-Dixie. This task is something Patty normally does by herself while Mike’s at work.
After the groceries were purchased, Patty wandered outside for a newspaper. As she dropped coins in the vending machine and retrieved the latest Courier Mail, three Muslim men accosted her on the sidewalk. One of the three stuck his face right in hers and began to verbally harass her. Patty looked around for Mike, but he was 150 yards away unaware of her predicament. When she demanded to know what he wanted, this Muslim began clucking in her face.
What the heck was up with that?
Patty said his clucking indicated disgust. This was very unnerving for a woman seemingly alone and literally defenseless. The normally unflappable Patty sensed danger and fled back inside Coles.
SCHITTY SCHITTY BANG BANG
Stan and I still lived in Australia when their government took advantage of the actions of a deranged man, mentally challenged Martin Bryant, after he killed 35 people in Tasmania and injured another 23. Since Australia doesn’t have the death penalty, Bryant is serving 35 life sentences plus 1,035 years without chance of parole. Quite a waste of space and resources to keep this crazy person alive. My personal opinion. No motive was released to the public for Martin’s actions. However, his lawyer wrote a book detailing the massacre. In it he revealed that Bryant was fixated on murders committed at an elementary school in Dunblane, Scotland the month before. He continually prodded his lawyer asking how many people had he, Martin Bryant, killed – was it more than the 17 who lost their lives in Scotland?
Photo: Martin Bryant
Within 6 months of what became known as the Port Arthur Massacre, the Aussie govt. initiated a total gun recall on Sept. 30, 1996. They hit people when they felt vulnerable and few resisted. Little did they reason out that the bad guys would still have weapons and the only people disarmed – for the most part – were law abiding citizens. Does this ring a Sandy Hook bell? Politicos took that opportunity to push through onerous firearms legislation here in America. If liberals could accomplish it, we too, would be completely without self protection of the 2nd Amendment.
DEADLY DUMB MOVE
Over the years, I’ve read numerous articles quoting Australian crime stats after their firearms buyback. Some were correct, some not. Below is the real deal. I kept the numbers from the SSAA (Sporting Shooters’ Association of Australia) that published them straight from the Australian Bureau of Statistics’ publication Recorded Crime, 1998.

“The data indicate that between 1996 and 1997, serious crime increased considerably in Australia. Murder rose by 3.2%; assaults increased by 8.6%; armed robbery grew by a frightening 44%; unarmed robbery increased by 21%; unlawful entry with intent, including both (UEWI) involving the taking of property and (UEWI) ‘other’, rose by 3.9%, while motor vehicle theft increased by 6.1%”.
“The rise in the number of murders is particularly significant, bearing in mind that the increase took place at the same time as the Federal Government was forcibly appropriating people’s firearms, premised on the argument that it would lead to a ‘safer community’ – the increase becomes even more dramatic if one allows for the 35 murders in one incident in 1996. Similarly, the enormous increase in the number of both armed and unarmed robberies raises some serious doubts about the government’s claims. According to the ABS data, armed robbery underwent the most significant increase of any category of crime in 1997.
“Comparing the 1997 murder rates with the levels of firearm density within particular states also brings up some critical questions about the supposed relationship between homicide and gun ownership. According to the ABS figures, Western Australia, which is generally acknowledged as having the lowest firearm ownership density per head of population, with around 7.8% of persons over the age of 15 owning a gun, currently has a murder rate of 1.67 persons per 100,000.
“Tasmania, however, with the highest ratio of gun ownership at 13.6%, has a rate of just 1.48 persons per 100,000, 0.19 persons per 100,000 behind Western Australia (despite having nearly twice the number of gun owners per head of population) and 0.26 below the national average of 1.74.
The Northern Territory, on the other hand, which has had firm firearm regulation for some time compared (until recently) to Tasmania’s generous laws, nevertheless has a murder rate of 4.28 persons per 100,000, 2.8 times that of Tasmania and almost 2.5 times the average for the rest of the country.Clearly, significant factors which have nothing whatsoever to do with firearm regulation are responsible for overall homicide rates.

“The details of the 1997 murder rate also offer another serious rebuke of the government’s claim that ‘Australia will be a safer place’. For example, despite the forced statewide surrender of 207,220 firearms (and roughly 640,000 throughout Australia), not only did Victoria’s overall number of murders increase by 18% between 1996 and 1997, but the number of homicides committed with a firearm rose by nearly 300%. All jurisdictions, with the exception of the Northern Territory, experienced increases in their overall number of homicide offences in 1997. (Note: allowing for 35 murders in a single incident in 1996 (Martin Bryant), Tasmania’s total number of homicides rose from 2 to 7 in 1997.) The total number of homicides committed in Western Australia rose by a very substantial 33%.
“Given the very real growth in serious crime, Australian shooters forced to surrender their firearms to the government would be right in asking just precisely what criteria (Prime Minister) John Howard had in mind for gauging a supposedly “safer community” when he made his predictions during his now infamous flak jacket address to gun owners at Sale in 1996. In assessing the impact of the government’s ill-conceived anti-firearm agenda, the Australian Bureau of Statistics data clearly show that Howard’s 1996 claims were nothing more than hot air. Indeed, Australia is less safe now than it was before the current Federal regime set about expropriating people’s property and attempting to undermine private firearms ownership generally.” 1

KNIFE FOR SOME
These are the times in which we live and removing firearms doesn’t remove the threat. In China this March, 29 people were killed and another 130 were injured when 10 men armed long knives stormed a train station. Last April, a knife-wielding student stabbed 14 people at a Houston-area community college. December 14, 2013 – the same day as the Newtown, Conn., school shooting – a man attacked students at an elementary school in central China, wounding 22 children and one adult. Again, the weapon was a knife.
NO PLACE FOR MACE
It is even illegal to carry mace or pepper spray in Australia. Downunder it’s referred to as capsicum spray. Let me digress a minute and share that every person especially if you are anti-gun, should carry mace. My dad gave me the first little can when I was in university. Then, most common were the 4″ high dispensers that have a very short range of 6 feet max. Now we have several large cans that reach 30 feet. Think about it. If a person is threatening you, in two strides they would literally be on top of you. That’s too close to get the little can out of your pocket or purse, remove the safety, aim and spray. Also, when spraying an attacker in close range, there is a large chance of it blowing back into your face. It’s like taking aspirin for a headache. Don’t fool around with just one and have it do no good. Take 2 and get the job done. Buy the big boy can.
BACK TO PATTY
She must have really caught these Muslims’ attention as Patty is only 4′ 11″ with strawberry blonde hair. Quite a contrast to their dark, swarthy features. Contrary to what you might be thinking, she was dressed very conservatively in a calf-length white skirt and green blouse with a high enough neckline that no cleavage was even close to showing nor was anything see-through. Her hair was characteristically tied back and knowing Patty, she barely had on any makeup, if any.
Since when do we have to be concerned when just going to the grocery store? Apparently – now.
THE ISIS CRISIS – SOMETHING TO LOSE YOUR HEAD OVER
It’s likely you’ve heard or read by now that ISIS threatened about 5 weeks ago to hit Western countries with acts of terrorism. The first attacks were to target the UK within a month of this announcement and in the U.S., the month after. They intended to begin their terror reign in Australia last week when a horrific plot was uncovered and 15 Muslims were rounded up by 800 cops. However, only 2 people were charged. And yes, they found a very large, long sword in one of their apartments just right for severing heads. Their plan was to attack Brisbane and Sydney with random beheadings on the streets and to detach Prime Minister Tony Abbott’s head.
According to the Sydney Morning Herald today, Abdul Numan Haider ‘planned to behead Victoria Police officers and drape bodies in an IS (a.k.a. ISIS, ISIL) flag’. When searched, Haider was found carrying a larger knife and an Islamic State flag. Haider was described as “the most gentle, quiet, loving person” and “a devout Muslim“. At a Muslim youth camp last year held in Victoria, he attended every lecture. While he didn’t manage to behead these two policemen, Haider stabbed them before being fatally shot by an officer. In a few short months, somewhere between Muslim youth camp and yesterday, Haider was radicalized.
On Sept. 22, ISIS came out with another message specifically threatening the U.S., France and Australia. Think about yesterday’s headline from CNN:Western Allies Reject ISIS Leader’s Threats Against Their Civilians. Those in denial can reject ISIS’ threats all they wish, but that doesn’t make these crazies go away. AskJames Foley and Steven Sotloff. They would likely have a different opinion should they be reunited with their heads. Ask Daniel Pearl and British Army soldier, Lee Rigby, who met the same manner of death. Ask murderedDavid Haines. Whether or not kidnapped and threatened Brit journalists Alan Henning and John Cantlieare likewise beheaded remains to be seen. Also yesterday, The Caliphate Soldiers, a group linked to ISIS, uploaded a video to the Internet, claiming responsibility for kidnapping tourist Herve Gourdel, 55, from Nice, France.
AFTERNOON UPDATE: HervĂ© Gourdel, who was kidnapped on Sunday, Sept. 21, has just been beheaded. Muslim terrorists said they would kill Gourdel in retaliation for airstrikes in Iraq against the Islamic State. There are no words for these people…
Nearly every news agency stresses in subsequent articles these were killings were due to a lone wolf, not a terror cell. Based on the actions of Martin Bryant who dropped nearly 60 people in Tasmania and another lunatic, James Holmes, who shot a dozen people dead at a Colorado movie theater last year, this is any less damaging or frightening? It is more media panacea.

After James Foley’s beheading, where was Obama? On the links! He took a scant 15 minutes to address this American’s outrageous murder and then scampered back to his golf game. Who does this? Whatever your opinion is of George W. Bush, immediately after 911, he gave up golf until after he was out of the presidency, lest in the middle of a crisis, he was perceived as callous and uncaring. Either Obama doesn’t give 2 rips about the people he supposedly leads or he is completely blind to public perception.
ISLAM, THE RELIGION OF PEACE
A week ago, Pamela Geller wrote about Muslims slicing off breasts of kidnapped Christian girls in Syria and Iraq. They were also raped repeatedly. Images are too graphic, too brutal to post. There should be no mercy for these savage people who physically resemble humans. Anyone who embraces such practices and desires death instead of cherishing life is beyond most people’s understanding. Just guessing, they might have a nasty shock waiting for them when they die.
If any person is still sucking the cyanide that Islam is peaceful, read Monday’s statement from Abu Muhammad al-Adnani, senior leader and spokesman for the Islamic State. The following is quoted from South Australia’s Adelaide paper. If you know anything about Aussies, much like the Brits, they are masters of understatement. To see a headline such as thisIslamic State Leaders Calls for Muslims to Kill Australians in Any Way Possible really makes us worry. We still have 2 sons, 1 daughter and 5 grandkids living Downunder, not to mention a bunch of real friends. No decent human could every embrace this urging. What does this say about them as people? Think about it… They are devoid of a soul.
“If you can kill a disbelieving American or European — especially the spiteful and filthy French — or an Australian, or a Canadian, or any other disbeliever from the disbelievers waging war, including the citizens of the countries that entered into a coalition against the Islamic State, then rely upon Allah, and kill him in any manner or way however it may be,” he said.
“Do not ask for anyone’s advice and do not seek anyone’s verdict. Kill the disbeliever whether he is civilian or military.”
“He calls on all believers and any mujahideen in Australia to kill any of the allies, saying it is legal for any Muslim to kill any disbeliever.
“If you are not able to find an IED or a bullet, then single out the disbelieving American, Frenchman, or any of their allies,” he says.
“Smash his head with a rock, or slaughter him with a knife, or run him over with your car, or throw him down from a high place, or choke him, or poison him.
“If you are unable to do so, then burn his home, car, or business, or destroy his crops … if you are unable to do so, then spit in his face.”
Yet PM Tony Abbott echoes Obama’s sentiments that these statements and others like these are about terrorism, not Islam. Really? Then why does this Islamic leader encourage all manner of killing literally in the same breath saying to “rely on Allah”.
Religion of peace? Not feeling it. When do we cease giving Islam a pass so to not offend? This and other very tiresome lines of thought has moved America away from God while promoting atheists’ and wiccan preferences. As Paul Hellyer, formerly among Canada’s cabinet and Parliament, adroitly pointed out on Coast To Coast AM the other night, America has moved away from its founding roots, away from Christianity and that a move back to those roots is America’s only salvation.
NO PEACE, JUST BULLDUST AND SHARP SWORDS
With this in mind, understand that Patty lives in a town of about 100K people, some 8 hours away from Brisbane, but with 6 mosques close by. How many are in your area? This Wikipedia list is not exhaustive but includes over 2100 mosques just in America as of 2010. Consider that their numbers rocketed 74% in the past decade. In the intervening 4 years, the numbers have likely further escalated. Contrary to what Obama and other politically correct people prefer to put forth, certain surahs (chapters) in the Quran do advocate violence against unbelievers in Allah’s name and lying to us for whatever purpose is fine. According to The Religion of Peace.com:
“The Quran contains at least 109 verses that call Muslims to war with nonbelievers for the sake of Islamic rule. Some are quite graphic, with commands to chop off heads and fingers and kill infidels wherever they may be hiding. Muslims who do not join the fight are called ‘hypocrites’ and warned that Allah will send them to Hell if they do not join the slaughter.
“Unlike nearly all of the Old Testament verses of violence, the verses of violence in the Quran are mostly open-ended, meaning that they are not restrained by the historical context of the surrounding text. They are part of the eternal, unchanging word of Allah, and just as relevant or subjective as anything else in the Quran.
“The context of violent passages is more ambiguous than might be expected of a perfect book from a loving God, however this can work both ways. Most of today’s Muslims exercise a personal choice to interpret their holy book’s call to arms according to their own moral preconceptions about justifiable violence. Apologists cater to their preferences with tenuous arguments that gloss over historical fact and generally do not stand up to scrutiny. Still, it is important to note that the problem is not bad people, but bad ideology.
“Unfortunately, there are very few verses of tolerance and peace to abrogate or even balance out the many that call for nonbelievers to be fought and subdued until they either accept humiliation, convert to Islam, or are killed. Muhammad’s own martial legacy – and that of his companions – along with the remarkable stress on violence found in the Quran have produced a trail of blood and tears across world history.”

Credit to Common Sense

The Rapture and then America's Final Implosion!

Here in America today we are horrified to see the acceleration of the absolute hatred, disdain and violent mockery of Biblical absolutes and our Judeo/Christian national founding. From our leaders right down to America's victicrats and welfare recipients, moral relativism is the dominant ideology of our land and individual lawlessness and full blown narcissism reign as king (Judges 21:25, Jer. 16:12). Those Americans who oppose today's abundant and abounding lawlessness cannot withstand the lawless forces at work (Eph. 6:12) and its EXPONENTIAL consequences which  now abundantly plague our nation.
 From our leaders right down to America's victicrats and welfare recipients, moral relativism is the dominant ideology of our land and individual lawlessness and full blown narcissism reign as king.

President Obama and the American Left's mad push to overturn our nation's founding for lawless secularism has sent this nation into its final death spiral and I believe this will be the catalyst to the coming Day of the Lord (Rev. 6-16). Americans who are seeking to fight this lawless push tragically will (in the end) be swept away with the lawless SUPER- tsunami which is about to ravish this world(Rev. 6-16). My friends, America's only hope today is to be found in a saving relationship to Almighty God through Jesus Christ; the propitiation and Savior of the world (John 3:16-17, Gal.1:4, 1 John 2:2, 4:10).
President Obama and the American Left's mad push to overturn our nation's founding for lawless secularism has sent this nation into its final death spiral and  I believe this will be the catalyst to the coming Day of the Lord.
.
As America continues in its death spiral, Americans will not let go of their godless bent and existence (Gal. 5:19-21, 1 Tim 4:1-4, 2 Tim 3:1-7, 2 Thess. 2:10-12). Whether one be a left wing progressive or a squishy moderate or even a conservative, all seek an existence here in this fallen world apart from a saving relationship to Almighty God which is found in Jesus Christ(Acts 4:12, Rom.1:18-32, 10:4). It is my personal belief that Almighty God is already allowing this nation to reap the horrific lawless consequences from our nation's unrighteous doings. How can anyone not see that Almighty God has already taken down our nation's protective hedge and given us leaders who hate and despise Him and our Judeo/Christian founding (Isa. 3:1-7, 2 Tim. 3:1-7). When America finally does imploded - which has been this world's restraint of evil for the last 238 years - that the dam holding back the world's lawlessness will break and the global flood of HORRIFIC tribulation will commence(Rev. 6-16)

For America's godly remnant's sake and their love for Israel has Almighty God spared this nation thus far.

Once the Rapture of the Church takes place and America's believers (out of God's will or in God's will) are removed along with it's declining witness, their moral conservatism, integrity and massive global Gospel outreach via the Internet, what then will keep this nation and world from absolute global tribulation and implosion (1 Tim. 3:15, 2 Thess. 2: 1-8, Rev. 6-19)? For America's godly remnant's sake and their love for Israel, Almighty God has spared this nation thus far from absolute collapse (Isa. 1:9). Remove this dam (Almighty God's believing remnant) that holds back America's EXPONENTIAL lawlessness and godlessness and you will have the absolute implosion of not just this nation but of the entire world via global tribulation (2 Thess. 2:1-8, Rev. 6-19).

Tragically many believing Christians reject the overwhelming Biblical support of the Rapture and are one of the great leaders in discrediting this sound Biblical position and agents of demonic confusion.

The day is now at hand to put conservative politics and American nationalism aside and speak of Christ and His saving message of the Gospel (1 Cor. 2:2, 15:1-4, Eph. 5:16-17)!

The Kingdom of Heaven is at hand!

Credit to The Ignorant Fishermen Blog

UN Looks To Ban Ammo Through Agenda 21

A United Nations agency is proposing a ban on lead ammunition worldwide, which would serve as backdoor gun control by making ammo prohibitively expensive.




Hungary suspends gas supplies to Ukraine

Hungary's gas pipeline operator, FGSZ, says it has suspended delivery of gas to neighbouring Ukraine "indefinitely".

Ukraine has been receiving gas from Hungary, Poland and Slovakia since Russia cut off supplies to Ukraine in June in a dispute over unpaid bills.

Ukrainian state gas firm Naftogaz confirmed the stoppage, saying it was "unexpected and unexplained".

FGSZ said it had acted to raise the flow of gas to Hungary, due to an expected increase in demand.

With winter approaching fears are mounting that Ukraine will be unable to heat homes and power industry without Russian gas.

Russian and Ukrainian energy ministers are meeting in Berlin for EU-brokered talks, aimed at heading off such a crisis.

Relations between the former USSR's two biggest countries soured after the overthrow of Ukraine's pro-Russian President, Viktor Yanukovych, in February.




Russia subsequently annexed the Crimea region from Ukraine and was accused of fomenting a bloody insurrection in two of its eastern provinces.

Earlier this year Gazprom and Russian President Vladimir Putin warned of consequences if EU member states went ahead with deliveries to Ukraine to replace Russian supplies.

Russia says EU states are contractually forbidden from re-exporting gas to Ukraine while Brussels insists that such "reverse flows" are legal.

'Energy blackmail'

Hungary's move came three days after a meeting in Budapest between the head of Russian gas giant Gazprom, Alexei Miller, and Hungary's Prime Minister, Viktor Orban.

Prime Minister Orban has been critical of EU sanctions on Russia and has maintained a closer relationship with Moscow than his western European neighbours.
Gazprom CEO Alexei Miller (L) and Russian Energy Minister Alexander Novak wait for the start of gas talks between the EU, Russia and Ukraine in Berlin

Gazprom agreed on Friday to boost supplies to Hungary, Reuters news agency reports.

"Hungary cannot get into a situation in which, due to the Russian-Ukrainian conflict, it cannot access its required supply of energy," Mr Orban said on Hungarian state radio.

European Commission spokeswoman Helen Kearns said on Friday: "The message from the Commission is very clear: we expect all member states to facilitate reverse flows as agreed by the European Council

"There is nothing preventing EU companies to dispose freely of gas they have purchased from Gazprom and this includes selling this gas to customers both within the EU as well as to third countries such as Ukraine."

Naftogaz urged its "Hungarian partners to respect their contractual obligations and EU legislation".

"Neither EU countries nor Ukraine should be put under political pressure through energy blackmail," Naftogaz said on its website.

Credit to BBC

Biggest crisis ever looms

5 U.S. Banks Each Have More Than 40 Trillion Dollars In Exposure To Derivatives

Roulette Wheel - Public Domain
When is the U.S. banking system going to crash?  I can sum it up in three words.  Watch the derivatives.  It used to be only four, but now there are five "too big to fail" banks in the United States that each have more than 40 trillion dollars in exposure to derivatives.  Today, the U.S. national debt is sitting at a grand total of about 17.7 trillion dollars, so when we are talking about 40 trillion dollars we are talking about an amount of money that is almost unimaginable.  And unlike stocks and bonds, these derivatives do not represent "investments" in anything.  They can be incredibly complex, but essentially they are just paper wagers about what will happen in the future.  The truth is that derivatives trading is not too different from betting on baseball or football games.  Trading in derivatives is basically just a form of legalized gambling, and the "too big to fail" banks have transformed Wall Street into the largest casino in the history of the planet.  When this derivatives bubble bursts (and as surely as I am writing this it will), the pain that it will cause the global economy will be greater than words can describe.
If derivatives trading is so risky, then why do our big banks do it?
The answer to that question comes down to just one thing.
Greed.
The "too big to fail" banks run up enormous profits from their derivatives trading.  According to the New York Times, U.S. banks "have nearly $280 trillion of derivatives on their books" even though the financial crisis of 2008 demonstrated how dangerous they could be...
American banks have nearly $280 trillion of derivatives on their books, and they earn some of their biggest profits from trading in them. But the 2008 crisis revealed how flaws in the market had allowed for dangerous buildups of risk at large Wall Street firms and worsened the run on the banking system.
The big banks have sophisticated computer models which are supposed to keep the system stable and help them manage these risks.
But all computer models are based on assumptions.
And all of those assumptions were originally made by flesh and blood people.
When a "black swan event" comes along such as a war, a major pandemic, an apocalyptic natural disaster or a collapse of a very large financial institution, these models can often break down very rapidly.
For example, the following is a brief excerpt from a Forbes article that describes what happened to the derivatives market when Lehman Brothers collapsed back in 2008...
Fast forward to the financial meltdown of 2008 and what do we see? America again was celebrating. The economy was booming. Everyone seemed to be getting wealthier, even though the warning signs were everywhere: too much borrowing, foolish investments, greedy banks, regulators asleep at the wheel, politicians eager to promote home-ownership for those who couldn’t afford it, and distinguished analysts openly predicting this could only end badly. And then, when Lehman Bros fell, the financial system froze and world economy almost collapsed. Why?
The root cause wasn’t just the reckless lending and the excessive risk taking. The problem at the core was a lack of transparency. After Lehman’s collapse, no one could understand any particular bank’s risks from derivative trading and so no bank wanted to lend to or trade with any other bank. Because all the big banks’ had been involved to an unknown degree in risky derivative trading, no one could tell whether any particular financial institution might suddenly implode.
After the last financial crisis, we were promised that this would be fixed.
But instead the problem has become much larger.
When the housing bubble burst back in 2007, the total notional value of derivatives contracts around the world had risen to about 500 trillion dollars.
According to the Bank for International Settlements, today the total notional value of derivatives contracts around the world has ballooned to a staggering 710 trillion dollars ($710,000,000,000,000).
And of course the heart of this derivatives bubble can be found on Wall Street.
What I am about to share with you is very troubling information.
I have shared similar numbers in the past, but for this article I went and got the very latest numbers from the OCC's most recent quarterly report.  As I mentioned above, there are now five "too big to fail" banks that each have more than 40 trillion dollars in exposure to derivatives...
JPMorgan Chase
Total Assets: $2,476,986,000,000 (about 2.5 trillion dollars)
Total Exposure To Derivatives: $67,951,190,000,000 (more than 67 trillion dollars)
Citibank
Total Assets: $1,894,736,000,000 (almost 1.9 trillion dollars)
Total Exposure To Derivatives: $59,944,502,000,000 (nearly 60 trillion dollars)
Goldman Sachs
Total Assets: $915,705,000,000 (less than a trillion dollars)
Total Exposure To Derivatives: $54,564,516,000,000 (more than 54 trillion dollars)
Bank Of America
Total Assets: $2,152,533,000,000 (a bit more than 2.1 trillion dollars)
Total Exposure To Derivatives: $54,457,605,000,000 (more than 54 trillion dollars)
Morgan Stanley
Total Assets: $831,381,000,000 (less than a trillion dollars)
Total Exposure To Derivatives: $44,946,153,000,000 (more than 44 trillion dollars)
And it isn't just U.S. banks that are engaged in this type of behavior.
As Zero Hedge recently detailed, German banking giant Deutsche Bank has more exposure to derivatives than any of the American banks listed above...
Deutsche has a total derivative exposure that amounts to €55 trillion or just about $75 trillion. That’s a trillion with a T, and is about 100 times greater than the €522 billion in deposits the bank has.It is also 5x greater than the GDP of Europe and more or less the same as the GDP of… the world.
For those looking forward to the day when these mammoth banks will collapse, you need to keep in mind that when they do go down the entire system is going to utterly fall apart.
At this point our economic system is so completely dependent on these banks that there is no way that it can function without them.
It is like a patient with an extremely advanced case of cancer.
Doctors can try to kill the cancer, but it is almost inevitable that the patient will die in the process.
The same thing could be said about our relationship with the "too big to fail" banks.  If they fail, so do the rest of us.
We were told that something would be done about the "too big to fail" problem after the last crisis, but it never happened.
In fact, as I have written about previously, the "too big to fail" banks have collectively gotten 37 percent larger since the last recession.
At this point, the five largest banks in the country account for 42 percent of all loans in the United States, and the six largest banks control 67 percent of all banking assets.
If those banks were to disappear tomorrow, we would not have much of an economy left.
But as you have just read about in this article, they are being more reckless than ever before.
We are steamrolling toward the greatest financial disaster in world history, and nobody is doing much of anything to stop it.
Things could have turned out very differently, but now we will reap the consequences for the very foolish decisions that we have made.
Credit to Economic Collapse

USA & Coalition Hit 12 Oil Refineries Syria "Russia Upset"