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$16 trillion
$680 trillion
What happened to the other $644 trillion? I listened to the shadow bank man for 2 minutes. That's all I could take.
At the time, the derivatives market was relatively small. But it soon exploded, and the face value of all derivatives contracts across the world — a measure that counts the value of a derivative’s underlying assets — outstanding at the end of last year totaled more than $680 trillion, according to the Bank for International Settlements in Switzerland. The market for credit-default swaps — a form of insurance that protects debtholders against default — stood around $38 trillion, according to the international swaps group. That represents the total amount of insurance that has been written on various kinds of debt, but the amount that would have to be paid out if the debt went into default is considerably less.
Every single fact cited by TORO is a mistake.
If you want to see the real amounts go to the CME website.
Toro claims there are $640 trillion notional value and the risk of loss is $2 to $10 trillion. That would only be 1.56% if you use $10 trillion. In fact the US Bond contract alone just dropped fro 135 to 124. On a $100,000 bond contract that's an $11,000 loss or 11%.
Toro bought the Wall Street bullshit and is now peddling that compared to the actual facts. No one has any clue what could possibly be in the $640 trillion off balance sheet deriviatives. That's a secret they won't reveal. But no one is denying it. No one being the banks' executives or the accounting firms who audit. The accounting firms are not about to give up their fees to protect the UNITED STATES of ASSHOLES.
This forum is populated by ignorant, gullible, brainwashed fools. Then there are the other 17,000 people who never reply. Why are they wasting their time here?
These derivatives are on the books of the "Bank for International Settlements." Today they total $632.6 Trillion. You can see the totals here under the counter labeled "Currency & Credit Derivatives"
200+T in defaults triggered CDS closure?These derivatives are on the books of the "Bank for International Settlements." Today they total $632.6 Trillion. You can see the totals here under the counter labeled "Currency & Credit Derivatives"
Something is really screwed up. On 11-20-2010 at 05:20 AM I posted the above quote with the link to the debt clock that showed the "Bank for International Settlements" showed $632.6 Trillion in "Currency & Credit Derivatives". Today it only shows $577.4 Trillion. What happened to the $55.2 Trillion of Currency & Credit Derivatives that disappeared? Did these expire, go bad or did the reserve banks monetize them?
A couple of years ago this "Currency & Credit Derivatives" number was around $750 Trillion.
200+T in defaults triggered CDS closure?These derivatives are on the books of the "Bank for International Settlements." Today they total $632.6 Trillion. You can see the totals here under the counter labeled "Currency & Credit Derivatives"
Something is really screwed up. On 11-20-2010 at 05:20 AM I posted the above quote with the link to the debt clock that showed the "Bank for International Settlements" showed $632.6 Trillion in "Currency & Credit Derivatives". Today it only shows $577.4 Trillion. What happened to the $55.2 Trillion of Currency & Credit Derivatives that disappeared? Did these expire, go bad or did the reserve banks monetize them?
A couple of years ago this "Currency & Credit Derivatives" number was around $750 Trillion.
Buy the book, I need the money.
I doubt many players are as eager to buy shares of one another's default potentials as they were in years past. This is probably a good thing.