March 9, 2009

World Economy Lost $50 TRILLION in '08

The value of global financial assets including stocks, bonds and currencies probably fell by more than $50 trillion in 2008, equivalent to a year of world gross domestic product, according to an Asian Development Bank report.

That's about the equivalent of the Gross Domestic Product of the entire planet for one year!

Where did all that money go? The Federal Reserve knows but it refuses to say; at least for now.

I suspect they will spill their guts when a little of the proper type of "persuasion" is applied. They haven't seen "persuasion" yet. . . . . . but its coming.

Details Here