Prepare for Systemic Breakdown


The Head Of ‘The Central Bank Of The World’ Warns That Another Great Financial Crisis May Be Coming

Michael Snyder
July 13th, 2014

… The Bank for International Settlements (BIS) was used to launder money for the Nazis during World War II, but these days … (it is) an immensely powerful international organization that most people have never even heard of secretly controls the money supply of the entire globe. …  It is essentially an unelected, unaccountable central bank of the world that has complete immunity from taxation and from national laws. … Today, 58 global central banks belong to the BIS, and it has far more power over how the U.S. economy (or any other economy for that matter) will perform over the course of the next year than any politician does. …

(And as for today, according to the BIS,) the world economy is just as vulnerable to a financial crisis as it was in 2007, with the added danger that debt ratios are now far higher and emerging markets have been drawn into the fire as well …

Jaime Caruana, head of the Swiss-based financial watchdog, said investors were ignoring the risk of monetary tightening in their voracious hunt for yield. … Mr Caruana said the international system is in many ways more fragile than it was in the build-up to the Lehman crisis. Debt ratios in the developed economies have risen …

As I have written about previously, the total amount of government debt in the world has grown by about 40 percent since the last recession, and the “too big to fail banks” have collectively gotten 37 percent larger since that time.

The U.S. national debt has grown from about 10 trillion dollars to more than 17.5 trillion dollars, and even the Bank for International Settlements admits that the global derivatives bubble has grown to at least 710 trillion dollars.

The massive financial imbalances that we were facing during the last crisis have not been fixed.  Instead, they have gotten much, much worse. …

In another previous article, I quoted from a book that Georgetown University history professor Carroll Quigley wrote in 1975 entitled “Tragedy & Hope” … Sadly, the system that Quigley wrote about all the way back in 1975 has fully blossomed today. …

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About icliks

Biding my time in central ms ... yours too, if ur reading this.
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