Another Financial Armageddon Ahead?




Five years on from the last one global banker predators are setting the world up for a fresh and far more damaging crash warns Max Keiser in this interview with Jim Rickards, author of Currency Wars.

Max Keiser interviews Jim Rickards, author of Currency Wars who suggests gold could hit 10,000 dollars after the coming collapse

Max Keiser interviews Jim Rickards, author of Currency Wars who suggests gold could hit 10,000 dollars after the coming collapse

Published on Sep 14, 2013
In this episode of the Keiser Report, Max Keiser and Stacy Herbert, report from the heart of hedge fund land in Stamford and Darien, Connecticut, where they discuss the deja fraud of highly leveraged markets five years after Lehman collapsed. In the second half, Max interviews Jim Rickards, author of Currency Wars, who compares the Fed relationship to the BRICS nations to that of a drunk driver who runs down pedestrians and then blames the pedestrians for being in the way.

Another must read is this Project Syndicate report by Anat Admati, Professor of Finance and Economics at the Stanford Graduate School of Business about how little reform has followed since the Lehman Bros collapse

Five Years of Financial Non-Reform

STANFORD – Five years after the collapse of Lehman Brothers triggered the largest global financial crisis since the Great Depression, outsize banking sectors have left economies shattered in Ireland, Iceland, and Cyprus. Banks in Italy, Spain, and elsewhere are not lending enough. China’s credit binge is turning into a bust. In short, the world’s financial system remains dangerous and dysfunctional.

Worse, despite years of debate, no consensus about the nature of the financial system’s problems – much less how to fix them – has emerged. And that appears to reflect the banks’ political power….Simply put, lending and economic growth have suffered since 2007 because highly indebted financial institutions could not absorb their losses, not because of regulations that sought to reduce their indebtedness. The regulations in place when the crisis erupted were both inadequate and inadequately enforced, and the reforms proposed since then do little better…

 

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One Response to Another Financial Armageddon Ahead?

  1. Pingback: Meltdown: Started August 2007, Ending …? | FrenchNewsOnline

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