Derivatives - Worse Than the GFC

Posted | 07/08/2015 / Views | 2948
Back to News
Next Article

Economist and multi-millionaire businessman Doug Casey of Casey Research recently released his “5 unsettling signs we’re headed for a worse crash than 2008” forecast.  His number one reason is America’s banks are in greater danger now than before the GFC.  Here’s what he had to say:

“Remember derivatives? The absurdly complex financial instruments that essentially caused the massive bank failures in 2008… and led to the biggest economic collapse since the Great Depression? Well, what if I told you the amount of exposure to derivatives the top five US banks have - right now, today - is 45% LARGER than it was just before the collapse in 2008? That’s not a typo. The very same people who created the 2008 banking crisis are at it again,- having created another, much bigger ($273 TRILLION) derivatives bubble (versus $187 trillion in ’08).”

Subscribe to Our Newsletter

Daily or weekly emails with gold and silver price, bullion news and important economic events from around the world.

Daily or weekly news on everything gold, silver and crypto.

Ainslie Bullion - Build Wealth with Gold and Silver