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Derivatives, what a great mess we have....

This is a great article, hope you all read it, and learn, especially if you do comprehend what a financial mess our country is in at the moment, and for quite a few decades to come.

When asked why there are $605 Trillion derivatives outstanding (1) how do you articulate an answer to this horrendous and almost unimaginable number? The US is the largest economy in the world but tallies only 2.3% in comparison. Global bank reserves amount to only 1.2% of this accumulation. The gargantuan size appears to defy all logic.

Before some of you experts out there accuse me of sensationalism let me quickly give you the response of the “all knowing” to knock this number down to something that is intended to allow you to once again sleep at night.

The rest of this article can be read here:

http://www.kitco.com/ind/Long/feb252010.html



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The last figure I heard was 1.25 Quadrillion which

is twice what you are projecting. However as I understand it, half of that is what people owe and the other half is what is owed.

It's not the American people's debt, it's the wall street gambler's debt. No doubt they will try to continue to pass it on to the taxpayer and it will happen unless the people refuse to pay.

These pseudo-intellectual a********S need to find a way out of this mess themselves, they got themselves into this crap not us.

Ralph Waldo

You are right, it is not our mess, and yes, I believe these wall streat gamblers need to deal with it, and not the American people. I am sure the figure is closer to the 1.25 Quadrillion you mentioned.

Is this linked to CAFR?

I scanned the article. As a scientist and engineer I work with real stuff.

These plans seem to depend on the future earnings of labor.

Then we are left with a choice, continue working as wage slaves and accept what handout we get. Or Reject the whole system, repudiate the debt to these criminal bankers, and suffer the struggles to survive against their efforts to re-enslave.

Free includes debt-free!

YES

I've been saying the same thing for 2 years. Labor is all there is..Labor, assets & savings.

YES

They want it all

YES

I've been saying the same thing for 2 years. Labor is all there is..

YES

I've been saying the same thing for 2 years. Labor is all there is..

Paul_S.

Not sure if this is linked to CAFR or not, but I can research it further. Thanks for your comment. I do believe the majority of Americans are just going to continue to be wage slaves. I would love to see everyone reject what we have now.