$65 Trillion in Debt You Can’t Find
Accounting conventions have hidden immense amounts of foreign-exchange liabilities. We might not know where they are until the next crisis.
Sixty-five trillion dollars is a not big number: It’s a huge, barely comprehensible number.
It’s more than 2 1/2 times the size of the entire US Treasury market, the world’s biggest. It’s 14% of the value of all financial assets globally, according to a tally from the Bank for International Settlements.
It’s also the value of hidden dollar debt unrecorded on the balance sheets of non-US banks and shadow banks
Paul J. Davies Bloomberg 5 december 2022
Banks Need to Worry About Shadow Banks
Paul J. Davies Bloomberg 17 november 2022
https://englundmacro.blogspot.com/2022/11/banks-need-to-worry-about-shadow-banks.html
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