March 3, 2024 4:44 am

Banks are Over Leveraged 2 QUADRILLION Dollars in Derivatives. This Will be the Worst Financial Collapse EVER

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Banks are Over Leveraged 2 QUADRILLION Dollars in Derivatives. This Will be the Worst Financial Collapse EVER

By VotingIsForLosers

A derivative is a contract that derives its value and risk from a particular security (like a stock or commodity)—hence the name derivative. Derivatives are sometimes called secondary securities because they only exist as a result of primary securities like stocks, bonds, and commodities.

The four major types of derivative contracts are options, forwards, futures and swaps.

Banks use derivatives to hedge, to reduce the risks involved in the bank’s operations. For example, a bank’s financial profile might make it vulnerable to losses from changes in interest rates. The bank could purchase interest rate futures to protect itself.

Derivatives are a high-risk instrument. The volatile nature of derivatives can lead to huge losses. Moreover, the contracts are designed in such a way that it becomes very complicated for the investors to valuate them.

Famed investor Michael Burry delivered arguably his most dire warning about the current US economy to date late Thursday – suggesting he is concerned the ongoing downturn could be worse than the Great Recession.

Burry, the boss of Scion Asset Management, noted that one of his market analysts said his comments were “spooky” because he voiced his concerns on Sept. 29 – the anniversary of a 777.68-point drop in the Dow Jones Industrial Average in 2008 that ranked at the time as the largest single-day plunge in history.

“Today I wondered aloud if this could be worse than 2008,” Burry said in a now-deleted tweet. “What interest rates are doing, exchange rates globally, central banks seem reactionary and in [cover your a–] mode.”

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