'It'll wipe out every dollar in the world' - new crash fears as $80trillion 'goes missing'

:george:

'It'll wipe out every dollar in the world' - new crash fears as $80trillion 'goes missing'
Story by Harvey Jones • 11h ago

This warning does not come from some headline-grabbing doomsayer but arguably the most respectable financial body of all, the Bank of International Settlements (BIS). This is a body of central bankers based in Basle, Switzerland.

BIS is know as "the central banker's banker", an umbrella body for august institutions such as the Bank of England, US Federal Reserve and European Central Bank.

Its researchers can predict financial crises three years in advance using machine learning to aggregate predictions from different models.

Now they are warning of a crash the scale of which we have never seen before, with a staggering $80trillion (£65trillion) at stake.

To put that into perspective, the global financial crisis was triggered by the collapse of Wall Street investment bank Lehman Brothers in September 2008.

That was the largest corporate bankruptcy in US history but its debts totalled "just" $619billion. That is less than one percent of the sums at stake today.

One global financial expert contacted by Express.co.uk said a hidden corner of the finance world has been stretched to an "unsustainable" point, leaving the world in a "dangerous position".

It is yet another sign that global finance has got far too big for its boots, leaving the world at its mercy.

continues at source:

[link to www.msn.com (secure)]

How are Credit Suisse and the German central bank doing right now?

Who answers the call?

'It'll wipe out every dollar in the world' - new crash fears as $80trillion 'goes missing'
Story by Harvey Jones • 11h ago

This warning does not come from some headline-grabbing doomsayer but arguably the most respectable financial body of all, the Bank of International Settlements (BIS). This is a body of central bankers based in Basle, Switzerland.

BIS is know as "the central banker's banker", an umbrella body for august institutions such as the Bank of England, US Federal Reserve and European Central Bank.

Its researchers can predict financial crises three years in advance using machine learning to aggregate predictions from different models.

Now they are warning of a crash the scale of which we have never seen before, with a staggering $80trillion (£65trillion) at stake.

To put that into perspective, the global financial crisis was triggered by the collapse of Wall Street investment bank Lehman Brothers in September 2008.

That was the largest corporate bankruptcy in US history but its debts totalled "just" $619billion. That is less than one percent of the sums at stake today.

One global financial expert contacted by Express.co.uk said a hidden corner of the finance world has been stretched to an "unsustainable" point, leaving the world in a "dangerous position".

It is yet another sign that global finance has got far too big for its boots, leaving the world at its mercy.

continues at source:

[link to www.msn.com (secure)]

Better withdraw your 401k. Penalty won’t be as bad as the hit coming.

Did they predict the Lehman Brothers collapse? If not I wouldn't worry too much about their current prediction.

If they did predict Lehman...

Either way, something's fucky for sure.