[A-List] The Web of Debt
tboyle at rosehill.net
Sun Mar 15 21:13:36 MDT 2009
Ellen Brown wrote, but should know better,
>Not only is virtually the entire money supply created privately by
>banks, but a mere handful of very big banks is responsible for a massive
>investment scheme known as "derivatives", which now tallies in at
>hundreds of trillions of dollars.
What does "tallies" mean?
Tell all your friends-- if they don't know what derivatives are,
then don't write about them.
1. they were not created only by the big money-center banks.
There are at least ten big regional economies (south america,
india, persian gulf, russia, east asia, etc.etc.) and they all have
banksters, and they are not stupid. Even in the western capitals,
banksters have walked out the door with these schemes and
setup business as private equity.
2. the notional value of underlying assets reached 1 quadrillion.
Go read the BIS website. But so what? What if I bet you the
US GDP will be 20 trillion, and we sign our derivative contract
for our $100 bet. The notional value of our derivative? $20 trillion.
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