what would happen if a futures contract defaults?

[original post removed]

The clearinghouse is destroyed, or at least eradicated by pedestrians. Some people think this would never happen because its “margins and default fund” system takes action.

In my personal opinion, I like clearinghouses.

[video:https://www.youtube.com/watch?v=KENVkJUxBZs]

Possibly NSFW because F word.