The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: RockyBalboa who wrote (4206)	2/11/2008 4:44:17 PM
From: Real Man	Read Replies (2) of 71441

"Unlike in equities where traders would often employ house cleaning activities, the swap books are usually a mess and a mountain of swaps built up over time. To me it often appeared as if existing counterparty limits were never an issue for traders" That's very comforting to know. The bulk of 500 Trillion plus notional (valued at 11 Trillion) is a complete mess. Some regulation was organized because the trades were not settled for months. According to them, the situation "improved". I guess, it now takes a month and a half to settle a trade instead of 6 months -g- Hey, what's 11 Trillion? Pocket change? Almost the size of US economy? I actually wonder what holds this Ponzi scheme together. I guess we find out once there are quite a few defaults.

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