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it would take around $35 trillion.
Thank you melvin!  Earlier I asked how many multiples of the current money supply it would take to pay off all of the bad bets and debt.  It was not a rhetorical question.

Given how CDSs and the other derivatives are structured, is there any estimate of the total amount of debt that is being guaranteed by these instruments?  Put another way, the way things are currently structured, how many different parties will have to pay for the same defaulted debt, (the entire debt, not portions of it,) and why can we not devise a way to only pay once?

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Oct 24th, 2008 at 10:49:55 PM EST
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