Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
That table shows (and it is only dollar denominated debt) the cosmic scale - 150 trillion dollars - in which interest-bearing credit (aka money) was created by banks and and re-based on non-Bank/Investor capital -  the "off-balance sheet items" to which the table refers.
Let's say it loud and clear. Central bankers lost control of money creation over the past decade. And since controlling the monetary base is the reason central banks exist, central banks have been a total failure.

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith
by Carrie (migeru at eurotrib dot com) on Sat Mar 21st, 2009 at 12:04:08 PM EST

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