Shortly after this, the Bank for International Settlements (the institution which sort of keeps track of derivatives) changed its definitions of this market, in order to slash that astronomical number by more than 50%. Currently, the BIS estimates the size of this market at over $400 TRILLION – and once again rising. Along with the cosmetic changes made by the BIS to reduce the (apparent) size of these “financial WMD's”, we have had one bankster after another assure the world that because the “net exposure” of individual institutions is small, that this unregulated casino posed no threat/risk for the global financial system.
Clearly the banksters believe the “problem” has been solved: when they win with their derivative “bets” in their private casino, they keep the winnings – and when they lose their bets, the U.S. taxpayer pays for their losses. And to make the system “perfect”, the Obama regime is about to make the Federal Reserve the sole “watchdog” for systemic risk – the same Federal Reserve which claims it was totally unable to see the largest asset-bubble in the history of human commerce (despite the fact the Fed created that bubble with its own reckless policies).
A very interesting article by The Telegraph's Ambrose Pritchard-Evans points out that we have just seen that those bankster-assurances are false.