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View Diary: Iceland Solves Banking Crisis by Indicting Bankers, Forcing Mortgage Relief (191 comments)

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  •  Jabarten, yes: (2+ / 0-)
    Recommended by:
    Evolutionary, elwior

    no one speaks to the $750 trillion + of notational value derivatives.  Is this not the shadow market we are supporting--impossibly?

    Greed's self-regulation is collapse. So is delusion's.

    by Publius2008 on Fri Feb 24, 2012 at 07:38:54 AM PST

    [ Parent ]

    •  It is.....the net hard value of the planet.... (4+ / 0-)
      Recommended by:
      zmom, elwior, Dr Stankus, Eric Blair

      Is @75 trillion.   The amount of aggregate derivatives out there exceeds ONE QUADRILLION.   Methinks there's going to be a problem as the last time it exceeded a quadrillion was 2007......

      Just like some of us had bet against the housing bubble and the dot.com era.....it is all paper.  No solid asset value.   The only think I can't fathom is how a military strike against Iran fits in.  Have a Greek default and a strike against Iran, and you're dealing with a really scary situations with some incredibly devastating scenarios.

      But we had it coming.  Forming an automobile dependant society along with our perceived feelings of the "debt to prosperity" mindset would get us in the end.

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