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ALERT: Nomi Prins Issues Dire Warning – We May Have Just Witnessed The Trigger For The Next Global C



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ALERT: Nomi Prins Issues Dire Warning – We May Have Just Witnessed The Trigger For The Next Global C

Post by Lobo on Tue 02 Feb 2016, 5:16 pm

ALERT: Nomi Prins Issues Dire Warning – We May Have Just Witnessed The Trigger For The Next Global Collapse
February 02, 2016

Today Nomi Prins, the keynote speaker who recently addressed the Federal Reserve, IMF and World Bank, issued a dire warning to King World News that we may have just witnessed the trigger for the next global collapse.
Eric King:  “We saw the global financial system come unhinged as a result of the mortgage-backed securities scheme from 2007 – 2009.  Do all the derivatives and junk bonds tied to the energy sector have the potential to cause a similar level of panic and chaos in the global banking and financial system?”
Nomi Prins:  “It does have that potential for a similar reason, which is that a very small amount of underlying collateral in the energy sector and other industries that are dependent on profits from the energy sector for their own revenues, a small number of those can create a much larger ripple effect…

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Nomi Prins continues:  “As you mentioned, we have already seen this with the sub-prime crisis and other crises.  And in today’s markets, because co-dependency remains the key to the game between banks and other types of financial institutions, when something starts to unravel at the core of a trade or a derivative, it can spiral into a major problem for the global banking and financial system.”
Eric King:  “Even though we’ve seen the carnage in the oil sector, we have not yet seen the chaos in the banking sector play out that could trigger a global financial crisis.”
The Trigger For The Next Global Collapse
Nomi Prins:  “Not yet because banks are not writing down a lot of these losses.  But what we have seen, and this is how the sub-prime losses started coming in, are downgrades, delinquencies in payments, and defaults in associated securities.  
So that’s the first step.  From there we will see write-downs.  From there we will see lack of confidence in associated derivatives.  Everything just sort of seizes up because of the  price destruction in the energy sector.  We are already starting to see this happening in the oil patch.  
Here is the problem, Eric:  Once the cracks start to develop in the banking system, the only question left will be: 
“How bad will the global financial destruction ultimately become and how devastating will this
be for people around the world?”

    Current date/time is Thu 08 Dec 2016, 8:17 am