Danielle Park, the extremely talented host of Juggling Dynamite and gifted money manager, joined us for our bi-weekly get-together and analysis of the rapidly unraveling global financial system. There’s a major trader at JP Morgan who’s literally juggling financial dynamite! Just like the big casino gambler that he actually is, his nickname is “The London Whale.” He’s juggling billions in derivatives positions and when those explosive units come crashing down to earth, the monetary system might very well crash with it. Why would he be allowed to act so recklessly?
While we know there are many high-powered listeners to the show, who would have thought the Premier of China would be one of them? Wen Jiabao, while not quoting the Financial Survival Network interview, expressed his distaste for too big to fall banks, who are getting a free ride at the global public’s expense. He favored breaking them up and forcing them to relinquish power. Who says all politicians are dense and unable or unwilling to grasp the dangers of over concentrated financial power? Now if he would only be as honest about the Chinese Communist Party and its Too Big To Fail State Enterprise Empire, China could get some real Hope and Change they could believe in!
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