Capitol Solutions

Doyle Saylor djsaylor at
Sun Nov 14 09:18:50 MST 1999

Greetings Comrades,
    Dennis Redmond writes about the general debt/credit figures of the

..." but the credit system of the US/EU/Japan is probably close to $70
trillion by now."

and about rentiers

..."Among other things, it helps to distinguish the global bankers --
the EU and Japan -- from the global rentiers in the US; often the latter
will be more interested in long-term investment and will be willing to put
up with strong developmental states, whereas the rentiers simply want to
rape everything in sight. "

Dennis could you explicitly reference where you get this sense of an
estimate of credit figures from?  Last year on LBO I quoted from memory a
figure of $60 trillion which I thought I saw in the business press
representing the derivative market size.  There was some response of
disbelief then someone totalled up the three year unwinding of derivatives
to about 50 plus trillion which is considerably larger than GDP for the
whole world.

The reason I ask this question is that it seems to me a large sense of what
is actual money, debt and who does what is very revealing which is why I
quote your other remark.  So if you have a source to quote I would
appreciate that.
Doyle Saylor

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