The Phaserl


Keynote Speaker Who Just Addressed The Federal Reserve, IMF And World Bank Warns That The Coming Collapse Will Be Devastating

from KingWorldNews:

I believe the coming collapse will be more devastating. One of the things I remember thinking in 2004 was that unless we fix the banking system, which was involved in all the corporate frauds at Enron, Worldcom, and all the settlements that were going on back then, without decoupling people’s deposits and loans from these types of risky global endeavors and trading operations and derivatives transactions that these banks are allowed to have in such bulk, we are going to have another (catastrophic) problem. Of course we had the 2008 crisis. And now we have a situation where not only have none of these banks readjusted such that their risk is decoupled from individuals’ money and loans, but there has been that immense infusion — $7 trillion just between the Fed and the ECB, not to mention the other global central banks — of effectively zero interest rates or free cash into the system.

So there are bubbles (created) from the central banks, and we add that to all the parameters that gave us the last crisis, which was banks trying to find places to extend credit to engage in non-transparent transactions, to trade with each other and then create new securities that they then sell to small towns, municipalities and pension funds.

Nomi Prins continues @

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