Everyone Seems to Have Forgotten About the Financial Weapons of Mass Destruction

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Hey, have you heard about the global interest rate derivative market? It’s this financial market that was worth around $1.2 to $1.4 quadrillion at the time of the 2008 financial crisis, and it’s still around today. But here’s the thing: even though it’s been reported at a lower $598 trillion in H2 2021, it might still be a threat to the global economy. The decrease in the size of the market isn’t because banks have reduced their exposure to derivatives, it’s because of an accounting trick that made it look like the market had halved overnight. In reality, the market has remained virtually unchanged since the crisis. Read full article here

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