Andrew Hoffman: Debt Needs To Be Defaulted On, It Needs To Die (Video)
Andrew Hoffman: Debt Needs To Be Defaulted On, It Needs To Die Video
The opaque derivatives market is the problem. Once something gets moving through this market it will be almost impossible to stop. The daisy-chain of interconnectedness is on such a scale that a handful of derivatives could set the banking system ablaze. When you are talking about $700+ trillion of “financial instruments” going belly up the whole world has a problem.