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Derivatives/financial weapons of mass destruction:
At the top of the article it states that the *gross market value* of the derivatives fell to $11 trillion.
The last two lines of the article state:
“Total notional value of the contracts also has fallen. That total peaked at $710 trillion in 2013, but has dropped to $532 trillion since. “
Does it surprise anyone that government employees want to ban crypto mining and currency?
The whole idea is that it breaks away from dependence on sovereign FIAT currency for a nation-less FIAT currency.
In other news, Russia has dumped nearly all (if not all) US Treasury debt. From this casual economist’s POV, this is the first of many steps, along with the Yuan based oil pricing, to isolate the US, and let it collapse under its own extravagant spending. Rumor has Russia moving to a gold based currency. Considering Russia and China continue to generally be gold buyers and not sellers, they are steps toward something big happening.
But them I’m just a casual observer, and not a highly paid government economist paid to read the tea leaves differently.
Watch for failures in logistics in the near future,the only pick up/delivery portion of the supply chain is trucking and major problems are being engineered into the system(ELDs,forcing professionals out,regulations on regulations) to force robotic trucks(you will be considered a “hazard” and not allowed on the road,except in a robot car)