I think a quadrillion is too much. I remember in 2008 the derivatives overhang, which is still out there, was 63 trillion notional. You don't hear about it because it is hedged and because that number is too big to imagine, much less think about. When financial institutions go under it becomes unhedged. That's when the Central Bank …
I think a quadrillion is too much. I remember in 2008 the derivatives overhang, which is still out there, was 63 trillion notional. You don't hear about it because it is hedged and because that number is too big to imagine, much less think about. When financial institutions go under it becomes unhedged. That's when the Central Bank digital currencies step in to save the day as they hook right up to your digital passport. Things will become ultra convenient because the central banks will know exactly what you want - they'll make purchases for you and you'll be so happy!
I think a quadrillion is too much. I remember in 2008 the derivatives overhang, which is still out there, was 63 trillion notional. You don't hear about it because it is hedged and because that number is too big to imagine, much less think about. When financial institutions go under it becomes unhedged. That's when the Central Bank digital currencies step in to save the day as they hook right up to your digital passport. Things will become ultra convenient because the central banks will know exactly what you want - they'll make purchases for you and you'll be so happy!