Sorry but I was in a reading note taking frenzy last night and didn't save the article. Just took notes.
A google search - total derivatives debt
All in all, there are over $1 quadrillion worth of derivatives outstanding. The problem with this is the “tail” is bigger than the dog. In other words, the amount of derivatives outstanding dwarfs the total amount of money outstanding and thus the ability to “pay” and make good on the contracts. The other side of this coin are contracts promising to deliver something. Here I am thinking both gold and silver. There are far more (100-1 or more) obligations outstanding than there are ounces or kilos available to deliver. This is a default just waiting to happen.
US banks $247 trillion etc
Sorry but I was in a reading note taking frenzy last night and...
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