Three Wall Street Mega Banks Hold $157.3 Trillion in Derivatives – That’s $56.7 Trillion More than the Entire World’s GDP Last Year

By StevieRay Hansen

A consumer spending expert has released a dismal forecast for the US economy in 2024.

Harry Dent told Fox Business on Tuesday that “since 2009, this has been 100 percent artificial, unprecedented money printing and deficits: $27 trillion over 15 years, to be exact.” “This is completely manufactured, off the charts, which indicates that things are serious right now. In my opinion, 2024 will be the largest single collapse year of our lives.”

“We need to send a message to central banks and get back down to normal,” he continued. “This should be a lesson we never revisit,” he said. I doubt that we will witness another bubble in our lifetimes.”

Side Bar:

The Pentagon recently acknowledged that it was unable to account for trillions of dollars in taxpayer funds since it had failed a significant annual audit for six consecutive years.

Only seven of the 29 sub-audits of the DoD’s various services passed this year, which is no improvement over previous year’s results. The Pentagon has never been able to pass one of these audits, which first started in 2017.

The mainstream media briefly discussed this year’s debacle, which garnered some attention, but was quickly forgotten by an American public used to flushing money down the drain of defense spending.

The banks and their sycophants holding Senate and House seats pretended that American farmers would suffer because the derivatives they use to hedge against crop failures or price swings in their crops will become more expensive during recent Congressional hearings on the newly proposed rules by federal bank regulators to force the country’s largest banks to hold more capital against their riskiest trading positions (so that taxpayers aren’t on the hook for more bailouts).

The most recent data from the U.S. Department of agricultural shows that “agriculture, food, and related industries contributed roughly $1.264 trillion to U.S. gross domestic product (GDP) in 2021,” so we knew this was an entirely baseless claim.

Put another way, as of September 30 of this year, just three Wall Street megabanks held $157.3 trillion in derivatives, which is $56.74 trillion more than the global GDP of the previous year. Meanwhile, American farmers need to hedge less than $2 trillion. Refer to the chart above.

What are farmers and business owners using the majority of these derivatives for if not hedging against losses? The federal regulator of national banks, the Office of the Comptroller of the Currency (OCC), claims that trading is taking place at Wall Street’s megabanks using trillions of dollars in derivatives, most likely for the profit of the banks or their billionaire speculators, hedge funds and family offices.

The source was informed by the economist, who also owns HS Dent Investment Management, that the COVID-19 pandemic in late 2021 caused the U.S. markets to burst into a bubble.These levels might never be seen again. Furthermore, there won’t be a repair for this crash. It will be more in the range of ’29 to ’32. “And anyone who witnessed that would have taken a gun to their stockbroker,” Mr. Dent continued, alluding to the 1929 stock market crash that sparked the 1930s Great Depression.

“If my prediction comes true, 2024 will see the most of the largest crash of our time. By May, you’re going to see that become more apparent,” the analyst predicted. I could be incorrect, but it’s possible that you lose out on a few additional gains if you simply leave the market for six to twelve months and nothing changes in terms of valuation. If my prediction comes true, you will avoid suffering significant losses and have the opportunity to reinvest in a year or a year and a half from now at incredibly low costs, which will greatly increase your gains.”

Market crash forecasts are nothing new. In 2009, Mr. Dent penned “The Great Depression Ahead,” a book that predicted a major market collapse. A number of analysts have predicted the same thing in recent weeks regarding a major stock market fall in the near future.

We will have far more pressing issues to consider than the value of our portfolio, which will likely be seized in any case for anyone not on the elites’ approved list, if America’s economy collapses that severely since it will be linked to a worldwide crash that will bring about The Great Reset and the NWO. All Planned

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