EU's Toxic Assets is 16.3 TRILLION Pounds.... One can only imagine what American banks are weighed down by...

We are a bankrupt nation.


These derivatives are simply the cascading layers of bets on comparatively small base of receivables. This shared risk is inflated again and again, far above the value of the underlying asset.

The key here is that these wicked international bankers personally made BILLIONS selling these bogus assets around the world. As the pyramid scheme collapses, these bankers have long since used these Billions to buy up real assets leaving the rest of the world looking the fools with guns at each others heads.... and of course these same bankers are more than ready to sell both parties newer and bigger guns.
(this link showed the 16.3 Trillion for about an hour before it was yanked)