Wednesday, March 16, 2011
So you think the country's broke? Think again.
The cover of a recent issue of Barron's magazine was presented in a recent post on Financial Armageddon. Please note the text on the cover at the top right of the globe (above the red arrow):
"The dollar's swoon is drawing more investors to the $4 trillion-a-day foreign exchange market."
$4 trillion-a-day, folks. That's just in the forex market. There's trillions more traded in the stock, bond, futures, options, and derivatives markets every day. One fifth of one percent of $4 trillion is $8 billion. Multiplied by the number of trading days in a year, that's $2 trillion.
Budget deficit? Tobin Tax Initiative. Problem solved.
There's plenty of money out there. The problem is, we don't control it. But, what are governments for?
"The dollar's swoon is drawing more investors to the $4 trillion-a-day foreign exchange market."
$4 trillion-a-day, folks. That's just in the forex market. There's trillions more traded in the stock, bond, futures, options, and derivatives markets every day. One fifth of one percent of $4 trillion is $8 billion. Multiplied by the number of trading days in a year, that's $2 trillion.
Budget deficit? Tobin Tax Initiative. Problem solved.
There's plenty of money out there. The problem is, we don't control it. But, what are governments for?
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment