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Subject POTENTIALLY HUGE: 5 Major US banks FACE MASSIVE DEFAULT on credit default swaps this week?

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Original Message This could be huge, if true.

The 5 US largest banks have 97% of credit default swaps out there. As Euro defaults kick in, parties become contractually obligated to make huge payouts to the relevant derivative partners. But there is not enough money on planet earth to do so.

Everybody loses.

Watch the actions of an initernational body called the ISDA;in charge of determining when a "credit event" occurs.

[youtube [link to www.youtube.com]

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