JP Morgan and Bank of New York have actually switched their assets, in essence trading the bussinesses they conduct. By doing so they have actually
increased each others assets and increased their customer base.
Bank of New York will exit a business where it struggled to compete, and instead focus on securities servicing, its main business, and wealth
management. The swap more than doubles its trust business, adding 2,400 employees to an existing 1,300, and gives it oversight of $8 trillion of debt
in 20 countries.
Please visit the link provided for the complete story.
Eight trillion dollars of debt spread across twenty nations.
I guess I have not searched hard enough, because I cannot find which nations owed this money to JP Morgan, and now Bank of New York. I am also unable
to find exactly what interest rates are being charged to these various nations. I am also unable to find out whether the Securities and Exchange
Commission (SEC) has even looked over this exchange and approved it. They are American corporations after all and subject to regulatory action.
I apologize but if millions of people as a collective entity across the globe oweing money to individuals whos numbers probably could not fill a
high-school gym is not a conspiracy, I can not say what is in this world.
Anyways we should really consider doing something about the future of how credit system and banks operate because 20 nations with $8,000,000,000,000
dollar debt is not just business, it is a humanitarian crisis. If these nations, including America and even some European nations I am sure, are
diverting funds for these payments from important sectors we may have higher social and living standards in our own nations.
With that much money it would be possible to invest it all in several small undeveloped third world nations and turn them into prosperous builders of
wealth. You could literally make unfertile land fertile with that kind of money. You could build infrastructures and modernize whole cities to
acceptable health and educational standards. I assume it could be used to force a discovery of alternative fuels and ease the transition quite
Eight trillion probably could not be counted to in a single human life if you were to start at birth (for mathematics sake) until the age of 100.
There is so much good in this world that kind of money could bring to millions of lives, but it is being sent to a small number of wealthy individuals
who selfishly deprive humanity to advance itself. Can you imagine if eight trillion dollars were suddenly freed up overnight?
Our nation’s politicians should ask themselves this. "if I were to imprison for life every banker who the modern world owes money to, what would be
the consequences?" Our nation’s soldiers take orders directly from the politicians, not the bankers. They do not have standing armies; they do not
personally possess weapons of mass destruction which can be used on civilian populations. If we did not owe them money, the politicians would actually
be in control of their own lands, not foreign bankers and profiteers. I say do it, we have nothing to lose and everything to gain. Once they are out
of the picture, all corporations will have to yield to the will of the citizens, the are currently under the control and influence of the
Other than that, I honestly believe some more information about this swap needs to be revealed.
Related News Links:
[edit on 4/9/2006 by DYepes]
[edit on 4/9/2006 by DYepes]