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Rumor Mill News Reading Room, Current Archive
Former White House Official Warns Of Terrifying Cyprus-Style Global Endgame
Posted By: Susoni Date: Monday, 5-Jan-2015 23:29:11
www.rumormill.news/7669
In Response To: Russia's "Startling" Proposal To Europe: "Hey, Dump The US Dollar, Join The Eurasian Economic Union!!" (Susoni)
Snip
Dr. Malmgren: “Let’s look at the facts: The value of global derivatives contracts now exceeds more than one quadrillion dollars. People can’t even understand the magnitude of it. One of the reasons regulators everywhere have been so insistent that banks raise their capital or liquid cash on their balance sheets is to try to be prepared for the next derivatives crisis.
So the question is: Is there enough cash and liquid assets on banks’ balance sheets to deal with that kind of a derivative crisis? The size of the derivatives market is so massive that banks could be overrun if things got out of control….
“Also, people believe that if there were another derivatives crisis, the Fed would simply announce more quantitative easing. We can talk more about this in a bit.
Stunning Price Moves In Key Markets
The other concern is the magnitude of the price moves we are seeing. The Greek stock market was down 20 percent in a single week in December — at the beginning of this 'Grexit' discussion. That’s a huge move in a short period of time. The price of oil has collapsed more than 50 percent in a matter of months. The Russian ruble collapsed more than 50 percent. So the world is seeing massive and very rapid price changes.”
Armageddon Scenario
Eric King: “Will the next derivatives crisis be too big for governments?”
Dr. Malmgren: “Yes. This is the famous ‘Too big to save.’ Alan Greenspan talked about this when I worked in the government. He basically said, ‘Everybody focuses on the too big too fail, but the real question is: What happens when you are too big too save?’ This is a very serious issue. The markets will want to believe that the situation can be saved because if it can’t, then we go into some kind of dreadful Armageddon scenario….Continue reading on page 2 by CLICKING HERE OR BELOW.
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Articles In This Thread
- Russia's "Startling" Proposal To Europe: "Hey, Dump The US Dollar, Join The Eurasian Economic Union!!"
Susoni -- Monday, 5-Jan-2015 23:26:50
- Former White House Official Warns Of Terrifying Cyprus-Style Global Endgame
Susoni -- Monday, 5-Jan-2015 23:29:11
- 11 Predictions Of Economic Disaster In 2015 From Top Experts All Over The Globe
Susoni -- Monday, 5-Jan-2015 23:53:10
- Reader: God will rally in that period
Susoni -- Tuesday, 6-Jan-2015 15:50:21
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