The ISDA Protocol: Difference between revisions
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== Background == | == Background == | ||
When they signed the armistice the remaining banking superpowers resolved that never again would they engage in such futile destructive behaviour. | When they signed the armistice the remaining banking superpowers resolved that never again would they engage in such futile destructive behaviour. | ||
By BCB accord, use of [[FWMD]] | By BCB accord, use of [[FWMD]]s was forever banned, the superpowers agreeing, by conference at Bretton Woods, to create a multi-partite peacekeeping force with wide-ranging powers of inspection. Peacetime use of controlled derivative devices to power and heat for the world’s financial markets was, of course, permitted, but a pan-global regulatory force could inspect at any time. | ||
Meanwhile, the BCBH established five-sigma exclusion zones around the still-smouldering ruins left over from the great financial war, while massive [[IOSCO]] transport helicopters flew continuous missions over the “[[Lehman]] sarcophagus,” dumping gigatons of flame-retardant liquidity upon it and similar sites for years after the armistice. | Meanwhile, the BCBH established five-sigma exclusion zones around the still-smouldering ruins left over from the great financial war, while massive [[IOSCO]] transport helicopters flew continuous missions over the “[[Lehman]] sarcophagus,” dumping gigatons of flame-retardant liquidity upon it and similar sites for years after the armistice. | ||