Will Derivatives Wipe Out Some Currencies?

6.9.07
Over the last several years, there has been a lot of discussion about the size of the derivatives market, and how much it has grown since 1990. That market was around $20 trillion in size in ‘90, and now is estimated by the BIS to exceed $600 trillion world wide
http://www.kitco.com/ind/Laird/sep062007.html

The amount of the derivatives is clearly too high especially taking into account that approximately 80% are related in some way to interests or currencies. This is clear gambling a la Las Vegas.