Legend Who Oversees $180 Billion Warns World Financial System ‘Is Headed For A Train Wreck’

Friday, September 30, 2016
By Paul Martin

KingWorldNews.com
September 29, 2016

On the heels of continued problems at Deutsche Bank, a legend who oversees more than $180 billion warned King World News that the world financial system “is headed for a train wreck.”

Eric King: “Rob, the central banks have been insane for some time now but that insanity is escalating. Can you talk about that?”

Rob Arnott: “Of course the Fed did not hike in September. They have set the stage for what is characterized as a likely hike in December, but who knows? It’s not at all unlikely that they will flinch again. At the end of last year they were signaling four rate hikes for 2016 and it looks like we might very well finish with zero. So they talk a little hawkish but do not have the spine to do anything.

Now, the problem with zero interest rates or near zero interest rates or negative interest rates when you get to Japan or Europe, is that it demolishes the saver, the investor, the thrifty, the prudent. It demolishes the pension industry. It puts intense pressure on banks, especially if you go negative.

The Rest…HERE

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