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Global Currency Crises
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Topic starter
25/04/2012 6:55 am
I recently came across this graphic that shows the US derivative exposure. Obviously there would be no paying this off ever, something catastrophic would happen and it would be wiped clear.
http://demonocracy.info/infographics/usa/derivatives/bank_exposure.html
intro:
Derivatives: The Unregulated Global Casino for Banks
SHORT STORY: Pick something of value, make bets on the future value of "something", add contract & you have a derivative.
Banks make massive profits on derivatives, and when the bubble bursts chances are the tax payer will end up with the bill.
This visualizes the total coverage for derivatives (notional). Similar to insurance company's total coverage for all cars.
