Quote:
Originally Posted by indyjoe  I'm most worried about the derivatives market. There is more "value" in derivatives than real wealth. People are going to find out soon that the trillions and trillions of dollars tied up in that really isn't there anymore. |
I think it is more like 1.14 Quadrillion or more now, this info is dated from July.
Quote:
July 24th, 2008
The Bank of International Settlements, which seems to be the only institution that tracks the derivatives market, has recently reported that global outstanding derivatives have reached 1.14 quadrillion dollars: $548 Trillion in listed credit derivatives plus $596 trillion in notional/OTC derivatives.
Yes, that is Quadrillion. One and 15 zeroes!
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I would highly recommend taking
Chris Martenson's "
Crash Course" for some really good info on how the system works, where we have been, and what things look like for the future.