Unbelievable Lack of Trust in the System
from USA Watchdog:
Precious metals expert David Morgan says the plunge in oil prices is not good news for big Wall Street banks.
Morgan explains, “The amount of debt that is carried by the fracking industry at large is about double what the sub-prime was in the real estate fiasco in 2008. In summary, we’re looking at an explosion in potential that is greater than the sub-prime market of 2008 because, number one, oil and energy are the most important sectors out there. Number two, the derivative exposure is at least double what it was in 2008. Number three, the banking sector is really more fragile . . . and we have less ability to weather the storm.”
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