By Pam Martens and Russ Martens: December 18, 2023 ~ At recent Congressional hearings on federal bank regulators’ newly proposed rules to force the largest banks in the U.S. to hold more capital against their riskiest trading positions (so that taxpayers aren’t on the hook for more bailouts), the banks and their sycophants holding Senate and House seats made it sound like it’s the American farmers who will be hurt because the derivatives they use to hedge against crop failures or price swings in their crops will become more expensive.. We knew this was a completely bogus argument because the latest data from the U.S. Department of Agriculture indicates that “agriculture, food, and related industries contributed roughly $1.264 trillion to U.S. gross domestic product (GDP) in 2021….” In other words, U.S. farmers need to hedge less than $2 trillion while just three mega banks on Wall Street were holding $157.3 trillion … Continue reading Three Wall Street Mega Banks Hold $157.3 Trillion in Derivatives – That’s $56.7 Trillion More than the Entire World’s GDP Last Year