Simple graphics from the Guardian newspaper in the UK make it clear that we are screwed! The upshot:
(1) Global central bank gold reserves: $845Bn
(2) Global cash in circulation: $3.9Tn
(3) Traditional banking system assets (loans to be paid back): $39Tn
(4) Total global asset values at the height of the bubble: $290Tn (What are the losses on this? 50%? 80%?)
(5) Global bailout so far: $1.9Tn - This is likely low, as I have seen estimates of the Fed and Treasury backstopping up to $8Tn
There is not enough money in the world to bail us out of this!
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