“Of course Puerto Rico is just the tip of the iceberg of the coming debt crisis in the western hemisphere, just like Greece is just the tip of the iceberg of the coming debt crisis in Europe.”
There’s about a quadrillion US dollars worth of derivatives out there. Who’s gonna pay all that when the whole system collapses?
Who is going to pay it?
Nobody, that's who.
It can't be paid back.
There isn't enough money on planet Earth to pay it back.
So this fraudulent economic system the West and the rest of the planet is practicing will collapse. It has to. It based on lies and theft with nothing to back it up.
You have to understand how derivatives work.
If I bet you $10 that the Dow will go down tomorrow, that is a derivative based on billions of dollars in trading in Dow stocks.
However, the most I can win or lose is only $10.
Always look at the value at risk, not the notional value of the underlying assets.