The "Great Currency Reset" or Simply an Emerging Market Crisis?
In this report I cover the early market action from London on Monday, August 13th, 2018. I look briefly at the precious metals, the stock market, the dollar, other major and minor currencies and the bond market.
I continue to cover the situation in the currency markets as the Turkish lira continues to implode and I also note that the South African rand had been under pressure this morning as well. The situation in the currencies is continuing to impact the markets in Europe and the U.S. in a negative fashion.
I ask the question whether this crisis will be contained to the so called emerging markets or whether it could spill over in a big way into U.S. and European markets. Could this crisis evolve into the great currency collapse predicted thirty years ago by the Economist magazine?
August 15, 1971- 47th anniversary: https://www.silverdoctors.com/headlines/world-news/beware-august-15th-its-the-47th-anniversary-and-the-number-47-is-very-significant-to-the-global-elite/
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Good morning mario, silver numismatic, bank of earth, how about these derivatives like credit default swaps CDS? a lot of people do not understand them? i read an article yesterday my word! 1000's of trillions! they cannot unload them they would need a 100 earths resources to even balance the books! thanks for the updates have great day, :)
Yes I was involved in derivatives when I worked in the City and it's the biggest casino on earth ever! It started out as a way to hedge risk but now it's a a way of life for the banks and financial sector. Without these highly leverage derivatives the system would die but it will also kill the system. The notional amount of derivative contracts are obscene. Over 100 trillion dollars or $1 quadrillion.
Isnt a quadrillion 1000 trillion?
Turky, Italy, Deutche bank, they never reverse. But not necessarily burn rapidly. It will proceed like an avalanche gains momentum towards the reset.
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