bix weirWell, well… the US Congress has forced a shutdown of the Government starting at midnight tonight (right now on the East Coast). For most it seems there is no good reason to do this. For most it is just another stupid move by those stupid politicians.
On the Road to Roota it is the CONSEQUENCES of this action that matter and in my analysis the US Congress has just done the most Patriotic thing that can possibly be done at this time of turmoil…
They have thrown themselves on the nuclear derivative hand grenade!
This move and the ones that will follow in the weeks to come will destroy the multi-trillion dollar derivative market as represented in US Dollar interest rate swaps. I don’t know when it will show in the mainstream media but behind the scenes “THEY” know there is no escape.
The banks are toast – most likely starting with none other than JP Morgan who owns $46 Trillion in interest rate derivatives.
Good bye Jamie Dimon…and GOOD RIDDANCE!
May the Road you choose be the Right Road
Bix Weir

PS – I don’t expect Jamie to go down quietly as he threatened retaliation the last time the US Congress tried to destroy the dollar in April 2011. I discussed this in the Friday Road Trip back then…