A Chris Laird "Must Read" - Central Banks In A 'Pickle'
Excellent article discussing global financial system exposure to derivatives (1,200 TRILLION OTC - answers our question Jerry) and the US Treasury/Federal Reserve's attempts to stay ahead of the unwinding catastrophe.
A small excerpt:
"If the Fed chooses not to monetize, then, well all the derivatives continue unwinding relentlessly, in this secrecy, where no one knows who is next. Unless the Fed uses the public purse to sweep more and more unwinding derivatives under the rug, the entire world financial system collapses. I am serious….I am not exaggerating. We almost had this happen on two or more occasions that I recall since Aug 2007."
Central Banks In A 'Pickle'
Hat tip FOFOA!