Monday, April 25, 2016

Mish Shedlock* Makes Good Points To Explain:
Banks Make Their Money By Being Casinos!
Mish Shedlock* & Gordon T Long* discuss "casino banks", Christine Lagarde at the IMF, & precious metals .. "casino banks" refers to the large derivative positions at big banks .. for example Deutsche Bank has €21T in derivatives: "When you’ve got a €21T casino on your balance sheet, it just goes to show you how much banks aren’t banks." .. for that matter, the international swaps marketplace is approximately $600T .. 38 minutes

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