While the Greek debt crisis rages on, Eurozone ministers and American Treasury officials wring their hands wondering what the next plan is to prop up the failed Euro is and which Grecian Formula can raise the dead. The question of interconnectivity is largely unaddressed. This illustrates how much denial the banks are in and how their exposure will create a worldwide crisis. But were they even to acknowledge their connectivity, that would not begin to address the truly frightening problem of derivative exposure. Two Hundred trillion worldwide in unregulated derivatives exposure. It’s a big number. Might be time to take advantage of low prices on silver and gold.
