$700 billion is nothing what about A Quadrillion, page 1

Everyone is mad about the bailout but what about the $2.3 trillion that the pentagon said went missing?!?!?!?

What about the $1.5 trillion the federal reserve has created out of thin air in the past month.

What about the Quadrillion dollar bubble that currently being lent out worldwide?!!??

I say let it collapse so we can start from scratch because at the rate we are going we are just prolonging the inevitable.


[edit on 19-10-2008 by DaTruth]

[edit on 19-10-2008 by DaTruth]

Here is a link that discusses the potential $quadrillion issue.

The number is based on findings by the Bank for International Settlements in Basel, Switzerland. BIS is the bank for the world's central banks. It creates the international standards for banking. BIS knows money.

Someone told me recently that I was "wrong" about the derivatives market figures because there's not that much money in the world.
If I'm wrong, then so is the proverbial "bank of banks," so is every economist, so is every financial expert on Earth. The fact that there isn't enough money is exactly the problem.

reply to post by anachryon

---

I had the same reaction (wonder if it is the same poster?) in my timeline thread.

was told that the number was not possible.

Whoops, guess they were proven wrong - again

reply to post by redhatty

---

Doesn't look like it was the same person, but it goes to show that the derivatives market is beyond the imagination of many people. I mean, how much is a $quadrillion?? That's a $trillion times a thousand. That's $1,000,000,000,000,000. How can anyone pay these debts off???

The problem is that they can't. Were everything covered under derivatives to go belly up, we'd be looking at global economic collapse.
Fortunately (if there's a fortunately), a chunk of the derivatives cancel each other out. If Company A made a $100 bet with Company B that Entity X would fail, Company B could make a bet with Company A for $150 that Entity X would fail. When Entity X fails, $50 of that bet is canceled out and only $50 is owed in the end.
It remains, though, that even if half the contracts are canceled out by counter-bets, we're still looking at $500T. The article I linked goes further and illustrates that even if only 1 or 2% of the contracts aren't canceled out, that's still $10-20T, which is a tremendous chunk of the worldwide economic output.

It's difficult for anyone to comprehend numbers that large. It's understandable that some won't "get it."

reply to post by reticledc

---

You could not have put it any simpler. They have us to believe that the common man only has so much power. But we are all gears in a system that has perpetuated some of the greatest Atrocities in known time. We are just as guilty as those who have made this country and the world the capitalistic jungle that it is today. Gluttony is a "sin" and we have reached the limit we are to complacent. Let's face it in America with all of it racism, greed and corruption it's a lot easier living here than other places where the fear is in your face and you know your place.

We were happy just being concerned with our normal lives and letting the politicians deal with reality for us. Well people it's time for us to face our reality. Each of us in a way has let this system perpetuate. This is the exact reason we fought a revolution damn it. What type of future are we going to leave the next generation. They will look back at the time between 2001 and 2012 as the defining moment that created there world. God help Us.

USDA Forces Whole Foods To Accept Monsanto
  Posted 12 days ago with 100 member flags

Greece wipes out Citizens Debt!! Tells Bankers to suck it
  Posted 13 days ago with 78 member flags

Proponents of Gold Standard May Be Violent Extremists; Report ALL Suspicious Activity To the FBI
  Posted 6 days ago with 44 member flags

Obama on the verge of a deal with the banks
  Posted 18 days ago with 23 member flags

Bankers requesting that Greece become their debt slaves
  Posted 16 days ago with 15 member flags

We’re on the brink, warns Greece ahead of summit
  Posted 15 days ago with 15 member flags

Greece : vote AGAINST the ``enslave all Greeks to the banks`` bill and get kicked out of government
  Posted 1 days ago with 13 member flags

Heard a rumor on a disreputable anarchist forum....
  Posted 17 days ago with 12 member flags

Newest topics, updated in real-time:

Newest topics getting flags, in real-time:

Newest topics getting replies, in real-time: