from Zero Hedge
Several years ago, we were the first to point out the true “elephant in the room”, namely Deutsche Bank’s $75 trillion in derivatives which as we said at the time was about 20 times bigger than Germany’s GDP, and 5 times bigger than the entire economic output of the Eurozone.”
[…] This was largely ignored by the “experts” because why bring attention to something which is fundamentally a devastating break in the narrative that “Europe is fine” and the financial crisis is now contained.