Tuesday, October 11, 2016

"The latest reports from the Bank of International Settlements (BIS) say the world is on the brink of another financial catastrophe worse than the financial crisis. This is not the fever dream of some fringe website.
This is the considered opinion of the most plugged-in financial institution in the world.
These fears of systemic collapse were crystallized in a report by the General Manager of BIS, Jaime Caruana, delivered on June 26, 2016, just a few months ago. This report identified three major risks and three major threats arising from those risks. Caruana called these risks the 'risky trinity.' The three risks are excessive debt, lower productivity, and the absence of central bank policy options. The three threats to your wealth are systemic collapse, asset bubbles, and lost confidence in the ability of central banks to respond to crises. Today, we’ll look at the risk excessive debt poses .. In the last panic, central banks rode to the rescue by printing tens of trillions of dollars of new money and guaranteeing tens of trillions of dollars more in bank deposits, and money market funds, and by engaging in international currency swaps. But, central banks have now lost their flexibility to reliquify the system .. The next financial panic will be much worse than the last one and will be essentially unstoppable except by the most draconian and confiscatory measures."
- Jim Rickards*
LINK HERE to the essay

1 comment:

Anonymous said...

Bayh's wealth exploded after he left Senate, financial report reveals

Democrat Evan Bayh saw his net worth soar after leaving the U.S. Senate in 2010,
a personal financial disclosure report filed with the U.S. Senate late Sunday night reveals.

The report said Bayh has made $6.2 million since January 2015 while his net worth rose as high as $48.5 million.

Bayh and Republican U.S. Rep. Todd Young are in a tight race that could determine which party controls the U.S. Senate. A recent poll shows Bayh's once-sizable lead over Young has dwindled to one-percentage point. The financial report was released during last night's presidential debate between Donald Trump and Hillary Clinton.

and stock options from two firms worth at least $1 million each.
According to the financial report, Bayh received a salary of a little more than $2 million from New York City-based private equity firm Apollo Global Management, where he became a senior adviser after leaving the Senate.

He also earned a salary of $1.95 million as a strategic adviser at Richmond, Virginia-based law and lobbying firm McGuire Woods LLP.

Bayh has faced numerous questions during the race about whether he is beholden to special interests, including a recent AP report that analyzed Bayh’s 2010 Senate schedule and found he spent considerable time during his last year looking for a private sector job and meeting with recruiters. The report also said he cast votes on issues of interest to his future corporate bosses.


we're being hosed en mass...........