From Bix Weir
All eyes are on Deutsche Bank’s $75T Derivative portfolio at the moment as they just announced they will be “scaling back” their most profitable nuclear ponzi scheme…Credit Default Swaps!
Remember…for every derivative written there is a counter-party taking the other side of that bet.
Keep an eye on this story as it can bring the financial markets to a halt if it starts spreading to other banks.
My advice – Stay indoors…and not just for the crappy weather!
May the Road you choose be the Right Road.