$1 Quadrillion Worth of US Derivatives
$1 quadrillion, this is the value of the U.S derivatives. $1 quadrillion tied up in totally unregulated markets and the only information we can get about this pile of “money” is what bankers are willing to tell us. The value of derivatives market is more than 20 times the global economy as Jeff Nielsen mentions in his speech. This is the main reason why the U.S economy is struggling to get back on its feed and gain the investors trust again.
In 2008 when the state of the global economy was uncovered, Walls Street banks had to get the U.S accounting regulations changed in order to access these assets without letting the markets know the actual value of these papers. Without these changes the banks would have been reporting their own bankruptcies not record breaking profits, says Nielsen.
According to Nielsen there is no solution to the U.S …
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