Sunday, December 22, 2013

CFTC Announces It Is Undercounting Size Of Swaps Market By As Much As $55 Trillion

Here's the thing:  QE may be the Fed printing $75 billion per month to buy US Treasury bonds and mortgage-backed securities, but the counterfeiting, er...currency creation is actually much larger than that--in the form of currency swaps.  Some estimate as much as $16 trillion since the 2008 financial crisis.  That's why a few billion here or there isn't having any effect on the economy.  The financial derivatives nearly crashed the global financial system in 2008.

The next banking and financial crises most assuredly will.

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