Monster- OTC Derivatives: A BLACK HOLE. By Gregory Mannarino
(VIDEO).
Gregory Mannarino
Let's use their numbers. OTC (over the counter) derivatives 500+ Trillion. This does not include 'Listed Derivatives.' Keep in mind that derivatives are Leveraged Bets- that is multiples on money. Also understand that derivatives can have multiple layers. Today Margin debt, (borrowed money), by individuals and institutions is at an all time record high. So today as part of the Debt Bubble, record borrowing is being used to "bet" on a literally unknowable amount of financial instruments known as derivatives. Moreover, investment banks are using YOUR pensions, savings, and other deposits to play this game...
Gregory Mannarino
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Dear Sir, your concerns are more than justified, but they cannot constitute the basis of everyday trading.Based on the outstanding otc derivatives (hanging out for years now), we simply cannot trade the long side comfortably.(if at all).Therefore, the cautious traders who would overestimate the existance of those instruments in the books of numerous institutions, would obviously miss the whole bull market of the past years. Although I completely agree with you alerting the investment community of the pending perils, I prefer to ignore them when trading intra-day, and base my trading decisions solely to indicators that I have found to work for me .Needless to mention that I do not carry positions at home overnight, and perhaps this is why I conciously neglect such fundamentals.Thank you.
100% correct however, I consider it my "job" to put light on this rigged game for the tens of thousands of people from all over the world who follow my work. Why? Because it gives them power...