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: jackjc who wrote (51580)	10/30/2007 3:34:02 AM
From: Amark$p	Read Replies (2) of 78419

I disagree somewhat with your comment: "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." Your comment assumes NO third parties go bankrupt which are on the losing side of the trades. Some of these third parties may be in the Caymans/tax havens or otherwise have no forwarding address and/or have limited capital. This will freeze up the bank/credit system. FWIW, Don Coxe has stated same as you in comments several months ago (i.e. zero sum game), so this has lessened my concern somewhat. But I still believe third party derivative bankruptcies can/will? be a terminal event. This is the black swan...

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