Sixty-five trillion dollars is a not big number—it's a huge, barely comprehensible number. It's more than two and a half times the size of the entire U.S. Treasuries market, the world's biggest. It's 14 percent of the value of all financial assets around the world, according to a recent tally from the Bank for International Settlements (BIS).
It's also the value of hidden dollar debt unrecorded on the balance sheets of non-U.S. banks and shadow banks as of June this year, according to the BIS, the central bankers' central bank. It has been growing rapidly, having nearly doubled since 2008.
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