SOS on Toxic Assets

Roubini expected write off (global) of about USD3.6 trillion toxic assets, USA = USD1.8 trillion and the rest of the world is USD1.8 trillion.

Basically how the value of US dollars is measure is against GOLD. It is no doubt that it has lost about 12% against GOLD in 2008. In year to come it is expected that the GOLD price will equates to Dow Joints. As against other currencies, it is impossible to predict as all countries are printing money, hence, the US dollars against other currency may not collapse as much, but agaist GOLD it will loose its value.

However, if average total derivatives oustanding against the top 5 banks in US, it is at least 20 times. Hence, all major banks in US is actually insolvent.