GM: Derivatives are the gigantic pink elephant in the room that no one wants to admit is there. As an example, the sovereign debt of Europe is $70 trillion. The derivative liability, that means the unsecured liability that's associated with that debt, exceeds $700 trillion. It's a ridiculous number. When we're talking about trillion-dollar deficits and derivative problems in the hundreds of trillions, it just shows that there's no possible way this can be fixed.

Full article: http://www.theaureport.com/pub/na/14561?utm_source=delivra&utm_medium=email&utm_campaign=Gold%20Final%20streetwise-reports%2010/15/2012%2015:15:08

Terrible for the world. How do we even let that happen or get to that point? Looks good for PM's though.