Financial Armageddon Approaches: World faces wave of epic debt defaults, fears central bank veteran… U.S. banks have $247 Trillion of exposure to derivatives…If you don’t know what a bank “BAIL IN” is then your money is already gone.
InvestmentwWatchblog.com
January 21st, 2016
Situation worse than it was in 2007, says chairman of the OECD’s review committee
The global financial system has become dangerously unstable and faces an avalanche of bankruptcies that will test social and political stability, a leading monetary theorist has warned.
“The situation is worse than it was in 2007. Our macroeconomic ammunition to fight downturns is essentially all used up,” said William White, the Swiss-based chairman of the OECD’s review committee and former chief economist of the Bank for International Settlements (BIS).
Notice he is the former chief economist of the Bank for International Settlements (BIS)
A true insider – Pay attention to this!
“The only question is whether we are able to look reality in the eye and face what is coming in an orderly fashion, or whether it will be disorderly. Debt jubilees have been going on for 5,000 years, as far back as the Sumerians.”
The next task awaiting the global authorities is how to manage debt write-offs – and therefore a massive reordering of winners and losers in society – without setting off a political storm.
The Rest…HERE
