[Occupymendocino] Remember that f**ked up budget we just passed?

[Mark Safron]

Russian Roulette: Taxpayers Could Be on the Hook for Trillions in Oil Derivatives
By Ellen Brown
A fraction, but a critical fraction, as it included the banks’ bets on commodities. Five percent of $280 trillion is $14 trillion in derivatives exposure – close to the size of the existing federal debt. And as financial blogger Michael Snyder points out <http://theeconomiccollapseblog.com/archives/plummeting-oil-prices-destroy-banks-holding-trillions-commodity-derivatives>, $3.9 trillion of this speculation is on the price of commodities.
Full story here: www.informationclearinghouse.info/article40528.htm <http://www.informationclearinghouse.info/article40528.htm>


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