The entire U.S. national debt is just a bit above 18 trillion dollars.
The Euro has 26 trillion dollars of derivatives tied to it this amount of money is almost unimaginable.
Overall, the total global derivatives bubble is more than 700 trillion dollars in size.
Over the past couple of decades, the global financial system has been transformed into the Biggest casino in the history of the planet.
In times of stability, the computer algorithms used by the big banks work quite well and they make enormous amounts of money.
But when unexpected things happen and markets go haywire, the financial institutions that gamble on derivatives can lose massive quantities of money very rapidly.
We saw this in 2008, and we could be on the verge of seeing this happen again.
If no agreement can be reached and Greece does leave the eurozone, the euro is going to fall off a cliff.
I wonder if they anticipated Tsipras? Their house of cards is falling apart before our very eyes.
Greece is in a state of economic and financial crisis that’s dominated global headlines this week. Vox’s Matt Yglesias explains the real roots of the crisis. For our more on the Greek crisis: http://www.vox.com/cards/eurozone-crisis
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