[Toddsterpatriot]

The BIS says that under their shorter adopted maturity rate adjustment, the world has about $700 trillion in credit derivatives (probably something like the rollovers due for one or two years instead of 2-4 years conceptually). At short term financing at 1%, the rollovers will cost $7 trillion...nobody has it.

Since derivatives aren't debt, why does short term financing at 1% mean anyone owes $7 trillion?

The unwinding of credit derivatives at all levels exceeds the world’s ability to pay the rollover fees

Then it's good that they don't have rollover fees.

[celtictomcat]

Good time to put all your investments/money in Canadian Equity Funds. Canadian banks are safe and Canadian Equity is even safer