Posted on 02/09/2015 4:39:32 PM PST by Kartographer
According to the Bank for International Settlements, 26.45 trillion dollars in currency derivatives are directly tied to the value of the euro.
Let that number sink in for a moment.
To give you some perspective, keep in mind that the U.S. government spends a total of less than 4 trillion dollars a year.
The entire U.S. national debt is just a bit above 18 trillion dollars.
(Excerpt) Read more at theeconomiccollapseblog.com ...
ping
It was a bad plan from the beginning. I have Margaret Thatcher’s biography and she went to great lengths to talk Briton into keeping its own currency.
For no particular reason, I feel that it’s still a little too early for the EEC to start unraveling.
The black swan comes out of “nowhere.” But when you look back on it, the swan was visible for a long time. You just chose not to see it.
What Cooked The World’s Economy?
http://www.freerepublic.com/focus/f-news/2209313/posts
And...
Here’s the link for the evidence in the information from the “Bank for International Settlements,” as mentioned in the full version of the excerpted article linked above.
http://www.bis.org/publ/otc_hy0805.pdf
...and a quote from it.
“The over-the-counter (OTC) derivatives market showed relatively steady growth in the second half of 2007, amid the turmoil in global financial markets. Notional amounts of all categories of OTC contracts rose by 15% to $596 trillion at the end of December (Table 1), following a 24% increase in the first half of the year.1”
More on what happened in 2007-2008.
China’s imploding US ally (AIG)
http://www.freerepublic.com/focus/f-news/2084468/posts
AIG: Inquiring Minds Want To Know
http://www.freerepublic.com/focus/f-news/2192489/posts
(China)
Fed won’t say who helped by AIG rescue
http://www.freerepublic.com/focus/f-news/2200398/posts
Top U.S., European Banks Got $50 Billion in AIG Aid
http://www.freerepublic.com/focus/f-bloggers/2201213/posts
China appeals to Washington to safeguard assets
http://www.freerepublic.com/focus/f-news/2205693/posts
U.S. Federal Reserve to buy up to US$300B long-term Treasury bonds
http://www.freerepublic.com/focus/news/2209403/posts
I’m not doubting it will. And I know that the right domino could fall any day. And that there are a lot of the “right” dominos teetering. It’s just my gut feeling that, baring something out of left field, the time is not quite here.
A lot of time we think doom is here only for the power players to swoop in and delay it with a huge borrowing from them underwritten by governments.
The day they are ready for the collapse, then the ECB will die.
Gene Burnett - Jump You F*#kers (A Song For Wall Street)
https://www.youtube.com/watch?v=yge311sFhC8
I agree with you.
It is just a matter of when though.
I thought derivatives were zero sum; somebody wins the same amount somebody loses when a certain time passes or a certain event happens. Unless the money to buy these was loaned and not cash on the barrel/derivative, “What difference, at this point, does it make?” Trying to figure this out.
With a national currency there’s at least a country behind it. With the euro there isnt. Everyone says Germany, as it’s primary beneficiary and sponsor , will back it. Maybe. But if the euro becomes a drag on Berlin, requiring repeated bailouts, then I wouldn’t bet on Germany backing it for too long
My bet is that uncle sucker (US) bails out Greece at the last second to keep them out of Russia’s sphere of influence.
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