Hello,

we've got some big news in the derivatives market.

Some of the safest derivatives,

the AAA-rated tranches are blowing up

as we speak. Let's get right into this article from Zero Hedge

and check out the details and then I want to think this through in terms of what we've been seeing

with some of these globally systemic banks that are having

to go further and further out the risk curve to make sure that they're not losing money every

single month by doing what?

Buying derivatives.

It just, this gets crazier and crazier and crazier, but getting into this zero hedge

article, here we go. For the first time since the financial crisis,

CMBS investors face Europe's first

triple A loss, triple A loss.

Triple A loss.

Again, you guys remember from watching my videos and I actually have a video coming out tonight

about this very topic, how these tranches that they set up,

the AAA tranche gets the lowest interest rate,

but they're the ones that take losses the last

or they're the last ones take losses.

Therefore, if the AAA Tronch is taking losses,

you know that every single tranche below them

...