BIS Warns Of A $1 Quadrillion Derivatives Time Bomb

[RebelCapitalistChannel]

CORRECTION: I read the off/on balance sheet charts of banks dollar lending incorrectly. Here's how the BIS described the charts "positive value indicates net off balance sheet lending of currency." I took that to mean combining off b/s and on b/s, this was an incorrect assumption. It was the total of on b/s liabilities minus assets so if it was a net positive it represented the total off balance sheet lending. EXAMPLE: I said they have more off b/s lending based on the charts (US banks), where in reality they only have 400 billion in off b/s dollar lending. I do these videos live and often on very complex topics so please bear in mind I will make mistakes from time to time, but when I catch a mistake I do my best to let you know. Thx for watching!

[brittanywurzer]

Lynette Zang has mentioned that there is over 3.5 quadrillion in derivatives.

[jordannorton]

It’s honestly pretty remarkable that they’re able to keep this web of shenanigans afloat.

[thomaskauser]

*BIS* warning that all the global governments will default together bringing the global CBDC in as a Hegelian Dialectic!

[brianflaherty]

How much more convoluted can things get, you know the financial system is ready to fall apart when you hear something like this.

[dougtso]

Derivative was the real reason of the 2008 crash, they just patched it up and moved on like nothing has happened. Well, it's finally happening now.

[Michael-xexo]

I'm from Canada 🇨🇦🇨🇦
Ever since I met Mrs Sophia I'm now living big life she's the best

[littlebitmckee]

My goodness! Thank you for all you and Josh do! Your commitment to educating us is quite a legacy for both of you! ❤❤❤

[WallStForMainSt]

The Swiss National Bank and the Swiss government had to guarantee all of the interest rate swaps that Credit Suisse had before UBS agreed to buy them. The legal guarantees are in writing. Swiss taxpayers and Swiss citizens have to bailout OTC derivatives losses

[sirguy]

What were the chances that a bunch of worthless fiat currencies coupled with uncontrolled government and personal spending and over bloated illusionary markets would ever cause a problem?

[cz]

From what's happening in the market, we know what's going to happen, and they know we know it's going to happen.

[WallStForMainSt]

The largest amount of OTC derivatives are actually interest rate swaps. Over $300 trillion according to the BIS.

[fetoid]

Suddenly, the national debt doesn't seem so insane...

[danski]

Hi all. Thanks George.
The question we should be asking: Why is the BIS sharing this now?
Hummmm.
Enjoy the ride.

[marynoelwhelan]

I just watched this live. How you don't have a headache after this, I don't know. I don't understand the details. But, it's enough to scare the bejeebers out of me. So, now I have a massive headache! Also, I your chuckle.

[alainelowell]

Time for a jubilee, this can't be fixed. They've already taken all that "fake" money they created and bought REAL ASSETS with it. What a swindle.

[Gary-vorm]

_"Off balance sheet"_ liabilities sound like those that don't actually expect to be paid. The discarded castles, factories, yachts and mansions reminds us how *LONG* this has been happening.

[j.borchard]

The most famous line from “It’s A Wonder Life” from a financial perspective is; “What had you been doing George, playing the Market with the Company’s Money?” This was asked of George Bailey because his Dip-Shit Uncle inadvertently folded $8K in cash in some newspaper a gave it to Mr. Potter at the Bank before he tried depositing it!

This is the same scenario; Banks using deposits for derivative investments and playing the Markets!

[jimmyfio]

I have a master's in engineering from Stanford. I watch a lot of videos about banking, money supply, treasury and bond yields, etc without a problem. You are going to have to walk me through this one.

[nacetroy]

RC golf clap to Josh! I like when George mentions appreciation for Josh.