Comment: $53 trillion, reported 10/18 on ZeroHedge (from Bloomberg)

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$53 trillion, reported 10/18 on ZeroHedge (from Bloomberg)

But it doesn't matter if it's $53 trillion, $75 trillion, or $500 trillion. If BAC fails to meet its obligations on its entire derivative portfolio, no one, especially the gov't, would be capable of bailing them out. They'll simply just default on their obligations and it'll all be written down to 0. For the government to inflate the money supply by that amount would almost immediately destroy the dollar through quick and severe hyperinflation.

Of course, this is not to say we won't see hyperinflation in the dollar. It will eventually happen (as it has with every other fiat currency in history), this would just be one scenario of it playing out. Hopefully if we get competing currencies, this will be a non-issue for those who got out of the $.

http://www.zerohedge.com/news/bank-america-forces-depositors...