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Coming Soon: The 600 Trillion Derivatives Emergency Meeting

Here is an update on the size of the derivatives market with the latest official figures (.pdf) from the Bank for International Settlements (BIS). Hold your breath, as we are not anymore talking paltry billions but TRILLIONS of whichever fiat currency.

Current emergency meetings on banks and markets are still only in the stage where politicians and central bankers are bickering over how to create a few more hundred billions Euros and FRNs. But toxic MBS pale in comparison to the mushrooming growth of the derivatives market. According to figures released in the quarterly review of the BIS (pp A103) in September the total notional amount of outstanding derivatives in all categories rose 15% to a mindboggling $596 TRILLION as of December 2007.

www.seekingalpha.com/article/99674-coming-soon-the-600-trillion-deriva
tives-emergency-meeting?source=email
www.bis.org/publ/qtrpdf/r_qa0809.pdf#page=108

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Waste Management just reported a better-than-expected quarter, and pays 3.75% to its shareholders. Cramer said: "There are companies that you put your first bid on here, and then you let the hedge funds go wild and knock the stock market down, and then you buy them. This is literally the only strategy that is working in this market."
www.seekingalpha.com/article/100328-throw-money-at-it-cramer-s-stop-tr
ading-10-16-08?source=article_lb_articles

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"I'd make a great terrorist."
-Mark Loizeaux, owner of CDI, BBC: The Third Tower, 2008

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