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src: https://www.reuters.com/markets/currencies/global-markets-bis-urgent-2022-12-05/ https://www.reuters.com/markets/currencies/global-markets-bi... I'm disap
by game_the0ry 4y ago
src: https://www.reuters.com/markets/currencies/global-markets-bis-urgent-2022-12-05/ https://www.reuters.com/markets/currencies/global-markets-bi...
I'm disappointed this post was flagged.
Unfunded government liabilities (pensions, social security, etc) and off-balance sheet derivatives (swaps, credit default swaps, interest rate swaps, etc) need more transparency, and the people who keep on blowing up the economy count on you being ignorant to how the market works when they do blow it up, so they keep getting record bonuses.
Fun fact - the notional value of the OTC derivatives market is estimated to be $1 Quadrillion. [1] That is a stupendous number, and there is some debate about that number bc no one knows the true value, bc (again) the lack of transparency.
[1] https://www.reuters.com/article/derivatives-swaps-compression-hits-us1-q/derivatives-swaps-compression-hits-us1-quadrillion-idUSL8N1JO356 https://www.reuters.com/article/derivatives-swaps-compressio...
- dang 4y agoThe main thread is: BIS warns of $80T of hidden FX swap debt - https://news.ycombinator.com/item?id=33865698 https://news.ycombinator.com/item?id=33865698 - Dec 2022 (157 comments) The current post was flagged because it didn't come with an article and the text was weird. But we moved the comments to a submission of the same article you linked to.