What aboui the $800 TRILLION dollars caught up in over the counter derivitives?
Seems a day of rekoning must come since most of the large financial institutions are heavy into these mysterious transactions most of which are unreported and not on balance sheets. The big guys such as BofA. Citibank, JPMorgan and most others will have to come clean soon. No?
Best Answer
546 points
warren answered 11 months ago …
The notional amount is well over 1 quadrillion actually. Look at JPM they are the largest holder and starting to unravel. What currency can possibly hold up once the stuff really begins to hit the fan, and it hasn't yet. Look to money....real money.
Good Luck
Warren
www.preciousmetalstockreview.com
Answers
678 points
BoxCar answered 11 months ago …
WOW, are these OTC "derivatives" derived from the so-called "Wealth" of real estate
If so, we ARE in trouble. Does anyone have a CLUE how much only $1Trillion is?
Its a stack of $1000 bills over 63miles high. If that doesn't scare you, what does?
