Guy Who Predicted Lehman Brothers’ Fall Sees Big Trouble for China

“The next financial crisis will not come from the United States. All of my systemic risk indicators are clearly pointing at Asia. Asia is back where we were in 2007; they have a trillion dollars of toxic assets off the balance sheets — hidden. If you look at interbank lending, we meticulously measure every day how much banks trust each other, and that is a phenomenal leading indicator.  If you take summer 2011, the S&P dropped 20 percent in about 35-45 days. And sure enough, right before that, the interbank trust in Europe in May and June was completely breaking down because some banks in Europe, France and Germany own a lot of Greek bonds and the Greek bonds were in flames.”

About The Freedom Watch Staff
News before it is news for the resistance from a trusted correspondent. The Freedom Watch Network

Comments are closed, but trackbacks and pingbacks are open.