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3min chapter
Worldwide Debt Spiral with James Lavish (WiM294)
The "What is Money?" Show
The Future of Bond Trading
Derivatives are contracts between two parties with an intermediary. They're overseen by a body called ISDA, international settlement of derivatives. What they were doing was using these LDI's not to manage risk, but to enhance returns. The way they would do that is they would buy bonds and they would lever them up with these derivatives.
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