THE DERIVATIVES DEBACLEThis is an interesting article that treats derivatives in an understandable way. This quote sums it up.
https://www.marketwatch.com/news/story/The-700-trillion-elephant-room/story.aspx?guid={024DB809-8506-4AA9-83BB-B053FD4E1C11}
"Derivatives pricing, simply put, is determined by what someone else is willing to pay for the contract. The value is based on an artificial scenario that "X" will be worth "Y" if "Z" happens. Strip away the fantasy, however, and the reality of the situation is akin to a game of musical chairs -- without any chairs. "
Nice eh?
While the author of the article uses the figure of 700 trillion in derviative contracts, my sources give me a figure of 4 quadrillion dollars. This difference means nothing considering," the total value of all the stock markets in the world amounts to less than $50 trillion".
This fellow states, "We need to identify and determine the real value of derivatives before we give banks and institutions a pass-go with more tax dollars"
I will now give a value to derivatives, $0.00. I guess this ship of fools can either accept that or have their entire currency, financial system, and way of life come crashing around them.