Yesterday Clif High said we are about to enter a three month period of living hell beginning as we go into this weekend. Several days back Bo Polny indicated the same. In fact we have been warned by Bix Weir, Bill Holter, Robert Kiyosaki and many other wisdomed persons. But I won’t bother to mention them all because there are still hold-outs that refuse to hear anyone that forecasts dates. So I will respect them and leave them in peace, but with one last warning from two actual players in the game.
Perhaps the hold-outs will give credit to JPMorgan Bank and Goldman Sachs Bank because they just completed a $4 Trillion sale of derivatives from Morgan to Goldman.
Why would they do this? The seller had to have recognized a huge loss to lighten their liabilities, and Goldman had to have taken a massive chance to add laibilities to their leverage. Why? The only thing I can come up with is these two Titans are playing high level chicken while hoping that the Government will bail each of them out. For $4 Trillion they both see the end is upon us all.
It appears to me they are each trying to differentiate themselves from the other so they will be the final single bank the Government keeps alive.
Brace for impact!