Financial WMD: How Iran Could Trigger a Global Economic Collapse; Warren Buffett once referred to derivatives as ‘financial weapons of mass destruction.’ He feared most was how a sudden, unexpected market shock could set off a dangerous chain reaction.
via Nick Giambruno Warren Buffett once referred to derivatives as “financial weapons of mass destruction.” He wasn’t being dramatic—he was warning that if things went wrong, these complex financial instruments could cause massive, far-reaching damage to the global economy. What Buffett feared most was how a sudden, unexpected market shock could set off a dangerous …