Comments by "Tony Wilson" (@tonywilson4713) on "Mehdi Hasan Tells Marianne She's An Unserious "Spoiler" Candidate | The Kyle Kulinski Show" video.

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  4.  @jl8942  DO YOU HAVE ANY IDEA AT ALL about where America sits economically in the world? If America has another event like it did in 2008, DO YOU HAVE ANY IDEA WHAT THE RAMIFICATIONS ARE? Have you ever heard of the Bank of International Settlements? BIS for short. Its where central banks like the Fed and the European Central Bank and the Bank of England go to settle things like all the foreign exchange that goes on from trade and tourism and people moving money about. Their December 2022 quarterly report had a shock in it. If you look it up it starts on page 68. In a nutshell they have reported there is now $100 Trillion in off book FX Swaps (Foreign Exchange) which are a form of derivative trades. Its basically gambling on exchange rates. Most of these swaps are NOT held by banks but other businesses AND NONE of it is recorded on any balance sheet anywhere because of how accountants record these sorts of "financial tools." Below is the opening summary of that report. And note that 25 + 35 = 60 and that's just the short term. In total (short + long term) its around $100 Trillion and most of it is in US Dollars. TAKE note of the last 2 words - that's a reference to all this stuff being OFF BOOK. If America sneezes and the US Dollar suddenly jumps then it will be bit more serious than 2008. This is the opening summary from that report. _"FX swaps, forwards and currency swaps create forward dollar payment obligations that do not appear on balance sheets and are missing in standard debt statistics. Non-banks outside the United States owe as much as $25 trillion in such missing debt, up from $17 trillion in 2016. Non US banks owe upwards of $35 trillion. Much of this debt is very short-term and the resulting rollover needs make for dollar funding squeezes. Policy responses to such squeezes include central bank swap lines that are set in a fog, with little information about the geographic distribution of the missing debt"_
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