BIS Sounds The Alarm Over $80 Trillion In "Huge, Missing And Hidden" FX Swap Debt

As the powers that be continue to scaremonger by slamming bitcoin and crypto every day, as if the asset class which is now well below $1 trillion is somehow systemic to the global economy and world markets, today the BIS briefly highlighted the real financial  bogeyman.

In its latest quarterly report, the Bank for International Settlements - also known as the central banks' central bank - warned that pension funds and other 'non-bank' financial firms now have more than $80 trillion of "hidden, off-balance sheet" dollar debt in the form of FX swaps.