from Money Morning:
The global derivatives market is big. Really big. So big – and so unregulated – in fact that no one really knows exactly how big it is, but the very best estimates put the notional value at $1.2 quadrillion dollars. That handily beats the entire world’s “GDP” of $71.8 trillion. The number is so big that it really defies anything on a human scale. Humans don’t do quadrillions of anything – at least not usually.
Or think of it this way: There are about 2 quadrillion stars in the “El Gordo” cluster, the largest cluster of galaxies we’ve observed so far. The derivatives market is galactic in scope.
Or, consider that there are about 1 quadrillion ants living on Earth. If you put all the ants and all the people into two big piles, they’d be about the same size. $1.2 quadrillion buys every ant on Earth a ride on a crosstown bus.
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