I didn't read all this stuff, but thought the stats interesting.
Total World Gold value AND JPM derivatives exposure
It has been estimated that all the gold mined by the end of 2009 totaled 165,000 tonnes.[2] At a price of US $1900/oz., reached in September 2011, one ton of gold has a value of approximately US $60.8 million. The total value of all gold ever mined would exceed US $9.2 trillion at that valuation.
http://en.wikipedia.org/wiki/Gold_reserve
a cube 137.6 feet on each side
But JPM alone has derivative exposure exceeding US $78 trillion.
OMG, no wonder there is so much going on. It is just a giant rip off.
http://www.zerohedge.com/news/five-banks-account-96-250-trillion-outstanding-derivative-exposure-morgan-stanley-sitting-fx-de
[livefree]
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