/, Featured, Main/As Major Cracks Appear In The Financial System, It’s Everyone, Every Currency And Every Central Bank For Itself
As Major Cracks Appear In The Financial System, It’s Everyone, Every Currency And Every Central Bank For Itself

 

 

KING WORLD NEWS

Today a legend who was recently asked by the Chinese government to give a speech to government officials in China sent King World News a powerful piece that warns as major cracks appear in the global financial system, it’s everyone, every currency and every central bank for itself.

By John Ing of Maison Placements 

March 24 (King World News) – Much is made of America’s economy becoming one of the fastest growing economies in the world. It is all relative. Debt has grown even faster. The US dollar too has soared relative to other currencies, thanks in part to a relatively better economic recovery and of course the trillions from the Fed’s bond buying program. However, the US still has 47 million people on food stamps and unemployment remains stuck at 5.5 percent. The US is just the least ugly duckling while the rest of the world copes with its own serious challenges.

The US needs to grow and close the gap between the haves (who benefited from QE) and the have-nots (savers and pensioners hurt by zero interest rates). America’s growth is simply not sustainable because this debt load is heavily dependent upon the largesse of its creditors. In fact, the strong dollar makes America’s goods and services less competitive such that Obama and America’s lawmakers are threatening to enact a trade agenda attacking the “currency manipulators” aka trade wars.

 

Echoes of the Past

Still an influx of global liquidity has flowed into the US reminiscent of the late nineties, when money attracted by high returns flooded into Asia with supposedly limited exchange rate risk. Soon foreign investors headed for the exits when defaults rippled from Russia to Thailand and, of course their currencies collapsed. Also, “too big-to-fail” Long Term Capital Management closed their doors. The contagion spread later in 2008 when Iceland sparked another round of defaults as its indebtedness grew to ten times the size of Iceland’s economy. The first Eurozone crisis followed, unraveling with the initial default of Greek government bonds.

To read the rest of the article, please click here.

By | 2016-10-04T08:45:36+00:00 March 25th, 2015|Conspiracy, Featured, Main|Comments Off on As Major Cracks Appear In The Financial System, It’s Everyone, Every Currency And Every Central Bank For Itself

About the Author: