re: Gold to run again? which bank roberter?
G'day I think that was a loaded question? Here's a couple of paragraphs from Bob Chapman
"Although the media generally reports at depth about JPM, it carefully avoids mentioning the breathtaking exposure it has taken on. The notional value of the derivatives portfolio at JPM is currently $25 trillion. Yes, that is right. $25 trillion. I need not remind you that our GDP is only $10 trillion.
Experts say that the risk of loss of anything like the full $25 trillion is minimal. But as a rule of thumb, 2% of the full notional value is realistically at risk. In JPM's case, that is about $500 billion. The stated net worth of JPM is about $40 billion, but after adjustments for intangibles, asset write-downs and bad loans, probably comes closer to $20 billion. In other words, the derivative risk is about 25 times JPM's net net worth."
For the full article go to http://www.kitco.com/ind/Chapman/sep302002.html
