- Stockman – $500 Trillion Derivative Bomb Threatens The World!
Today David Stockman warned King World News that a terrifying $500 trillion derivative bomb threatens the entire world. He also went on to caution about a second danger facing the world. KWN takes Stockman’s warnings very seriously because he is the man former President Reagan called on in 1981, during that crisis, to become Director of the Office of Management and Budget and help save the United States from collapse. Below is what Stockman had to say in part II of a series of powerful interviews that will be released today.
Stockman: “I think the great ticking time bomb is interest rate swaps. The last time I checked they were in the range of $500 trillion. Who knows what’s lurking underneath the surface there?….
Stockman: “The single greatest danger is that the game the central banks are playing today will come to an abrupt and destructive end. That’s the danger because the whole system is now running off the short-run maneuvers, liquidity, and guidance that the central banks are injecting into the market every day. The danger is that one of these days the whole system will fail because it is unnatural and artificial, and when that happens it’s going to be a pretty difficult (and chaotic) time.”