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That is likely why the actual value of $50 trillion notional could be something like $1.75 trillion, on average. It would be less if they were interest rate swaps but, in the case of a default, they would be much more if they were CDSs. The CDSs are the real weapons of mass financial destruction.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sat Dec 10th, 2011 at 10:32:11 PM EST
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