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True Size of the Shadow Banking System Revealed (Spoiler: Humongous)
KentuckyFC writes "The banking system is closely regulated and monitored by central banks and other government agencies. But it has become common practice for banks to get around this by doing business in ways that don't show up on conventional balance sheets. This so-called shadow banking system is thought to be huge, but nobody knows exactly how big. Now three econophysicists have discovered that the size distribution of the world's largest financial firms significantly differs from the size distribution of smaller ones or indeed non-financial firms. And they hypothesize that the difference is the result of the hidden transactions that make up the shadow banking system. By this new measure, the shadow banking system has grown dramatically since the financial crisis and was worth over $100 trillion in 2012, significantly more than had been thought and more even than the GDP of the entire planet. Nothing to worry about, then."
Did you hear the one about the Econophysicist, the Historochemist, and the Artamatician?
They showed up to un-f**c the UNFCCC, the the global warming weenies were all: "Hey, we thought WE were the ridiculous ones."
Get thee glass eyes, and, like a scurvy politician, seem to see things thou dost not.--King Lear
When somebody begins their argument with a link to Wikipedia, I always figure they are just parroting something something they read on the internet that they think makes them sound clever.
This capital and wealth that is being hoarded, where is it? Buried in the back yard? Under mattresses?
Are you threatening violence because some people are not spending their money as you would like?
Prove anything by multiplying Huge Number times Tiny Number