14. Economic pronouncements The Evolution of the Liquidity Pyramid Technological advancements and financial innovation in 1990s have really accelerated derivatives market growth
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16. Economic pronouncements Most debtor nations - External debt (public + private) as a % of GDP Of the US$54 trillion global external debt, top 20 countries account for 90%; including 14 European countries Source: CIA Factbook
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18. Economic pronouncements Inflation 1923-24: A German woman feeding a stove with currency notes, which burn longer than the amount of firewood they can buy A 500,000,000,000 (500 billion) Yugoslav dinar banknote circa 1993, the largest nominal value ever officially printed in Yugoslavia, the final result of hyperinflation