From the article:
” Engaging in hyper-hypothecation have been Goldman Sachs ($28.17 billion re-hypothecated in 2011), Canadian Imperial Bank of Commerce (re-pledged $72 billion in client assets), Royal Bank of Canada (re-pledged $53.8 billion of $126.7 billion available for re-pledging), Oppenheimer Holdings ($15.3 million), Credit Suisse (CHF 332 billion), Knight Capital Group ($1.17 billion),Interactive Brokers ($14.5 billion), Wells Fargo ($19.6 billion), JP Morgan($546.2 billion) and Morgan Stanley ($410 billion). “
I read the article at barnhardt.biz this morning. It was short and to the point, covering this situation precisely.
WE’RE ALL GOING DOWN!!
Do you know, or can you guess, at what will happen if Wells Fargo and JPMorgan cease to exist? What happens to the monies owed them, for houses, automobiles, and credit cards?