Home / Articles & Videos / This Will Crash The Financial System

This Will Crash The Financial System

Eric King:  “Eric, Egon von Greyerz was saying in his KWN interview they have already revealed that Italy has lost about 30% of its entire position in derivatives.  He overlaid that (30%) number on the over one quadrillion dollars of derivatives that exist globally, and came up with a (total) number of $300 trillion (of derivatives losses).  Obviously that’s a staggering number.  It’s unimaginable.  But it does fly in the face of central planners saying they are going to taper back on QE or things of that nature.”

Sprott:  “When you have a notional (one) quadrillion dollars of derivatives and they change by 1% on one quadrillion, that’s 10 trillion dollars right there.  It’s just incredible.   It would wipe out the (entire) banking system.

It’s a zero sum game, except the guy who’s losing can’t pay.  Then of course they whole system comes crashing down because everyone worries about counterparties…

Read the complete article at King World News here.

# Here you can see WHY it’s crucial to own physical gold & silver now, and HOW you can buy [and sell] it.

See also:

Please Note: This article is to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it.

Translate »