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The impending derivitives storm that threatens the world

This is the real financial tsunami that is threatening to engulf Wall St and the world. The propaganda in the controlled media continues to ignore this blaming it all on the subprime crises. But the subprime crises is really just the tip of the iceberg. This is why Freddie and Fannie and AIG had to bailed out. The recent auction of Lehmans’ credit default swaps for $370 billion has terrified the financial giants. This is why the credit industry is frozen. The banks are hoarding their cash in fear of derivitive judgement day. They cannot pay these debt obligations. Thank you J.P. Morgan.

The subprime mortgage problem is really just the detonator for the coming derivatives bomb that Warren Buffett rightly called “weapons of financial mass destructionâ€