'Financial weapons of mass destruction still primed to detonate'

from tribunemagazine.co.uk

"Gambling, or placing bets on the movement of exchange rates, interest rates, price of wheat, oil, gold, commodities and even rates of death, is ingrained in the world of finance. The trade in derivatives has been described by Warren Buffett, the billionaire American investor, as “financial weapons of mass destruction”. Northern Rock, HBOS, Barclays, HSBC, Goldman Sachs and all other banks trade in derivatives. Derivatives are not dissimilar to placing a bet on a horse, where the outcome could be anything from loss of the wager to a large win."..........read it here