$707,568,901,000,000

[sideloaded]

While everyone was focused on the impending European collapse, the latest soon to be refuted rumors of a quick fix from the Welt am Sonntag notwithstanding, the Bank of International Settlements reported a number that quietly slipped through the cracks of the broader media. Which is paradoxical because it is the biggest ever reported in the financial world: the number in question is $707,568,901,000,000 and represents the latest total amount of all notional Over The Counter (read unregulated) outstanding derivatives reported by the world's financial institutions to the BIS for its semi-annual OTC derivatives report titled "OTC derivatives market activity in the first half of 2011."

http://www.zerohedge.com/news/707568901000000-how-and-why-banks-increased-total-outstanding-derivatives-record-107-trillion-6

Loose lips sink ships

[shari91]

Thanks for sharing.

Weird that SBR poster Turd Ferguson was the third response to that article on that site.

[sideloaded]

When Greece defaults in a few weeks it's going to get very interesting.

[milwaukee mike]

the more important number is total debt by all nations vs. total assets of those nations.

the amount of derivatives is unimportant, i have many hedged positions so those calls/puts aren't really risky, they are reducing my risk, yet included in that "derivatives" number.