Former White Official Warns Another Derivatives Nightmare Is About To Shock The World !
- Former White Official Warns Another Derivatives Nightmare Is About To Shock The World!
by www.kingworldnews.com
After a week of historic drama that was kicked off when the Swiss central bank surprised market participants by dropping their currency peg to the euro, today a former White House official warned King World News that things are about to get even worse as another derivatives nightmare is about to shock the world.
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Dr. Malmgren: “Eric, the bank runs in Europe are happening simultaneously with the first big bankruptcy in the fracking world. As the oil price has collapsed it has begun to expose which businesses in the United States are simply no longer financially viable….
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Dr. Malmgren: “There are more than one quadrillion dollars worth of derivatives floating around on the books of various banks and other institutions in the financial world. What will happen is a lot of them will come unstuck for multiple reasons that are interconnected — the oil prices going down, European banks turning out not to be sound or stable, and massive losses in emerging markets due to the collapse in commodity prices and currency turmoil.
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