Gold and Silver Juniors, Mid-tiers and Producers Message Board

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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: Amark$p who wrote (51579)	10/29/2007 2:55:34 AM
From: jackjc	Read Replies (3) of 78419

Thanks, he is consistent in his outlook. I keep cash in 100% US Treas also. But I see the derivative thing as a giant poker game, one parties loss is offset by the other parties gain. The game is zero sum and can't go broke. With huge leverage obviously a big interest rate move (80% are int rate contracts) would BK plenty of counterparties. So new name on the Corp/Fund/Bank door. Some lessons learned, fear bringing some types of business to a crawl while sorted out. And the worst thing is the months it would take to determine status. My point is don't just look at one side and the unbelievable losses. They can't and would not be paid in full, just cancelled out IMO. Just as the losses can't be paid in full, so also the gains would not accrue. Like a high stakes poker game played on credit instead of cash in full on the table. The huge losses never happen, nor the gains. Don't know why no one ever sees it this way but that is my take. All I ever see is the hundreds of trillions in possible losses, ain't gonna happen.

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