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Day 2: 12 Days of Xmas Quiz

Generali
Generali Posts: 36,411 Forumite
10,000 Posts Combo Breaker
in Debate House Prices & the Economy
[FONT=&quot]LIBOR scandal: what is the total notional value of all the derivatives contracts based on LIBOR? [/FONT]
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Comments

  • kinger101
    kinger101 Posts: 6,573 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 24 December 2015 at 10:21PM
    £9.78. Give or take a few hundred trillion.

    PS: is this like the sweeties in a jar contest? Do we get to keep it if we guess right. The assets rather than liabilities that is.
    "Real knowledge is to know the extent of one's ignorance" - Confucius
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    kinger101 wrote: »
    £9.78. Give or take a few hundred trillion.

    PS: is this like the sweeties in a jar contest? Do we get to keep it if we guess right. The assets rather than liabilities that is.

    You get to keep both the assets and the liabilities. I will personally pay out the net positions of the contracts linked to LIBOR to the poster that comes closest to guessing their total notional value.

    That is $0.00.
  • kinger101
    kinger101 Posts: 6,573 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Generali wrote: »
    You get to keep both the assets and the liabilities. I will personally pay out the net positions of the contracts linked to LIBOR to the poster that comes closest to guessing their total notional value.

    That is $0.00.

    Well, I'm not playing then. I only accept winnings in Sterling.
    "Real knowledge is to know the extent of one's ignorance" - Confucius
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    kinger101 wrote: »
    Well, I'm not playing then. I only accept winnings in Sterling.

    That's okay. If you win I will enter into an FX trade to turn your winnings into £0.00.
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
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    Generali wrote: »
    [FONT=&quot]LIBOR scandal: what is the total notional value of all the derivatives contracts based on LIBOR? [/FONT]

    qrnhg.jpg
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • Generali
    Generali Posts: 36,411 Forumite
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    HAMISH_MCTAVISH wrote: »
    qrnhg.jpg

    Close, very close.
  • michaels
    michaels Posts: 29,133 Forumite
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    edited 25 December 2015 at 12:58AM
    Generali wrote: »
    You get to keep both the assets and the liabilities. I will personally pay out the net positions of the contracts linked to LIBOR to the poster that comes closest to guessing their total notional value.

    That is $0.00.

    Hey - I was about to do the net joke...then I wondered if it might be like the world's balance of payments with itself which we all know is negative....

    Edit: Isn't the LIBOR scandal prima facie evidence that Chinese walls do work - often traders were rigging the market to make themselves / their division money even where the bank overall might have had a very different position....
    I think....
  • Mistermeaner
    Mistermeaner Posts: 3,024 Forumite
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    It's a zero sum game isn't it? So zero
    Left is never right but I always am.
  • BobQ
    BobQ Posts: 11,181 Forumite
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    2 billion ickies
    Few people are capable of expressing with equanimity opinions which differ from the prejudices of their social environment. Most people are incapable of forming such opinions.
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    edited 25 December 2015 at 7:47AM
    Mistermeaner wrote: »
    It's a zero sum game isn't it? So zero

    Not the notional values.
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