$370 trillion DERIVATIVE MARKET
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'Today I came across the largest actual dollar figure that I have ever read about: $370 trillion, or
$370,000,000,000,000
This is the reported total value of the derivatives market. By way of comparison, $370 trillion is 10x the total financial assets of the United States.
I can't even get my head around the fact that credit market derivatives have doubled in size in each one of the past three years, up to $34.5 trillion in 2006.
One of the supposed benefits of the derivative trade is to spread risk. So, it's not rocket science to infer that when a market grows to a fifteen-digit number, ummm, you may have a somewhat less-than-health amount of systemic risk in play. I'm all for spreading risk, but who will be left standing come the "Great Unwind"? '
http://www.elliottwave.com
SCARY . . .
370 trillion derivative market
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