Global Economy On The Verge Of Collapse As It Turns Down In An Already Bankrupt World

• Global Economy On The Verge Of Collapse As It Turns Down In An Already Bankrupt World
  by www.kingworldnews.com 
  Today the man who has become legendary for his predictions on QE, historic moves in currencies, and major global events warned King World News that the global economy is on the verge of collapse as it turns down in an already bankrupt world.
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  October 25 – (King World News) – Egon von Greyerz:  “Eric, at the end of last week we again saw the madness of stock market investors in following every word a central banker utters.  At the ECB press conference, Draghi indicated that the money printing of the ECB might be increased in December… 
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  On The Verge Of Collapse
  But little do investors realize that the ECB will print more and so will the Fed, not to please the stock market but because the world economy and the financial system are on the verge of collapsing.  Liquidity in the banking system is extremely tight and bank lending is decreasing.
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  I published an article on KWN about the problems facing Deutsche Bank because of their $100 trillion derivatives position.  But Deutsche Bank is not the only bank with this massive exposure.  JP Morgan, for example, also has around $100 trillion of derivatives exposure, and the top U.S. banks have a staggering $250 trillion of derivatives exposure.  And if these derivatives are valued properly, the true value of the U.S. bank exposure is an close to the jaw-dropping figure of $500 trillion.
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  When counterparties fail, the $500 trillion U.S. bank total and the total global derivatives exposure of $1.5 quadrillion will sustain unimaginable losses. 
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