Karen Wrote:
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I just love it when such negative predictions are made,
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What is so good and wonderful that we would need to keep the current enslaving banking system going ? Why put any energy into that what use are they that they should need to be saved? I intend to sit back and laugh as i watch it implode
That is not fear it is joy
Iowa Sen. Tom Harkin has issued a call for regulation of the over-the-counter derivatives market, which has an estimated size of
$596 trillion. By contrast, t
he value of the world's financial assets -- including all stock, bonds and bank deposits -- was pegged at $167 trillion last year by consulting firm McKinsey.
How can the derivatives market be larger than the entire world's financial wealth?
Because the same assets might be involved in several different derivatives. A derivative is a financial instrument whose value depends on something else, such as a share of stock, an interest rate, a foreign currency or a barrel of oil
http://articles.moneycentral.msn.com...l-kind-of.aspx
Many of these contracts are about to come due How are they going to pay these off ? If you can remember back a few years Barings Bank of England went bust because of
ONE Trader and all the derivative bets he was making he was betting that a particular currency was going to Nose dive and when it didn`t happen he threw more money at the problem till finally there was no more to throw at it