The $600 Trillion Derivatives bubble

I just heard Alex Jones mention on his Sunday show the STUNNING $600 TRILLION derivatives bubble like it was something new.

I mean, it's a truly heart-stopping greedy-banking failure that's got humanity into this dire mess, but this insane derivatives figure was a goer in 2007, as mentioned in the following article FROM 2008 by "the prudent investor" Toni Straka an independent certified financial analyst who lives in Vienna, Austria.

Coming Soon: The $600 Trillion Derivatives Emergency Meeting

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.

As the vast majority of these contracts have no market, failure will come in the form of counterparty risk. This makes all the current emergency meeting a bit more understandable if politicians are already aware of the biggest bubble that may find no other way of deflation than a sudden burst.

And here's an update from Toni Straka in January 2010:

Given the new paradigms created in 2009 - Peace Nobelist Obama and Time's man of the year Bernanke - the risks lie definitely on the political side. E.g. note that Bernanke has not been confirmed only 11 days before the end of his first term as the Fed head that will enter history as the so far biggest money printer.

Note, also, that the security budget for the Toronto G20 was 1.2 BILLION, that's their budget FOR ONE YEAR busted in three days. This on top of George Osborne Emergency Budget update where he's talking about cutting most unemployment and invalidity benefits that you've contributed towards while you've been working for years so that you'll have to continue to work (like a good corporate war machine slave) until you fucking die.

It's amazing how much we already knew, how much was RIGHT IN OUR FACES.