'It'll wipe out the world' - new crash fears as $80trillion 'goes missing

C

cancel2 2022

Canceled
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Looks like yet another 2008 is in the offing. Only this time it is on a scale never ever seen before. Of course we'll need to consult the likes of Con Artist first though. He's the main man, according to him anyway.

This warning does not come from some headline-grabbing doomsayer but arguably the most respectable financial body of all, the Bank of International Settlements (BIS). This is a body of central bankers based in Basle, Switzerland.

BIS is know as “the central banker’s banker”, an umbrella body for august institutions such as the Bank of England, US Federal Reserve and European Central Bank.

Its researchers can predict financial crises three years in advance using machine learning to aggregate predictions from different models.

Now they are warning of a crash the scale of which we have never seen before, with a staggering $80trillion (£65trillion) at stake.

To put that into perspective, the global financial crisis was triggered by the collapse of Wall Street investment bank Lehman Brothers in September 2008.

That was the largest corporate bankruptcy in US history but its debts totalled "just" $619billion. That is less than one percent of the sums at stake today. One global financial expert contacted by Express.co.uk said a hidden corner of the finance world has been stretched to an “unsustainable” point, leaving the world in a “dangerous position”.

'It'll wipe out every dollar in the world' - new crash fears as $80trillion 'goes missing'. The world faces a staggering financial meltdown with potential losses exceeding the total number of US dollars in circulation.

https://www.express.co.uk/finance/p...entral-bankers-80-trillion-crash-meltdown-BIS no no
 
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Primavera said:
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Looks like yet another 2008 is in the offing. Only this time it is on a scale never ever seen before. Of course we'll need to consult the likes of Con Artist first though. He's the main man, according to him of course.

This warning does not come from some headline-grabbing doomsayer but arguably the most respectable financial body of all, the Bank of International Settlements (BIS). This is a body of central bankers based in Basle, Switzerland.

BIS is know as “the central banker’s banker”, an umbrella body for august institutions such as the Bank of England, US Federal Reserve and European Central Bank.

Its researchers can predict financial crises three years in advance using machine learning to aggregate predictions from different models.

Now they are warning of a crash the scale of which we have never seen before, with a staggering $80trillion (£65trillion) at stake.

To put that into perspective, the global financial crisis was triggered by the collapse of Wall Street investment bank Lehman Brothers in September 2008.

That was the largest corporate bankruptcy in US history but its debts totalled "just" $619billion. That is less than one percent of the sums at stake today. One global financial expert contacted by Express.co.uk said a hidden corner of the finance world has been stretched to an “unsustainable” point, leaving the world in a “dangerous position”.

'It'll wipe out every dollar in the world' - new crash fears as $80trillion 'goes missing'. The world faces a staggering financial meltdown with potential losses exceeding the total number of US dollars in circulation.

https://www.express.co.uk/finance/p...entral-bankers-80-trillion-crash-meltdown-BIS
Click to expand...

While the exact timing and mechanism has not been known, where we are going has been for many years now. I figured it out around 2011.
 
Hawkeye10 said:
I certainly have been hard on the alarms for a lot of years. I started talking about the rot in capitalism back in the 70's. Almost no one was listening.

Buckle Up.
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Lol so 50 years later the car still hasn’t started.
 
Personally, I think the Financial World has larger concerns and issues!

Here the Crypto Market is starting to look like a Space Station teetering on the edge of space about to fall back to earth and burn up in the Atmosphere on it's way down.

This is going to cause a chain reaction throughout the entire Funny-Money market.

But for you Masochists and Suicide Kings the price is right- RIGHT NOW! :laugh:
 
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some things we can take away from this.

1. That 80 trillion went in to a sizable number of elitist pockets
2. the dollar/economy will certainly not tumble because those elitists will want their absconded cash to stay valuable.
3. all the government spending only hurts us, we the people, but some people are too partisan stupid to see it
 
SmarterthanYou said:
some things we can take away from this.

1. That 80 trillion went in to a sizable number of elitist pockets
2. the dollar/economy will certainly not tumble because those elitists will want their absconded cash to stay valuable.
3. all the government spending only hurts us, we the people, but some people are too partisan stupid to see it
Click to expand...

The 80 trillion didn't go anywhere. Learn something about economics and finance, and resubmit.
 
There is just an incredible amount of ignorance in the OP and in some of the responses. Let me clear things up.

1. There is only about 2 trillion dollars of actual currency in circulation. So if some dollar figure is greater than the amount of currency in circulation, it does NOT mean that it could 'wipe out the dollar'. That's hyperbolic and stupid, and it was NOT what BIS stated. That's bullshit #1.

2. The money is not 'missing'. Obviously, whoever said that is ignorant. It already exists. It simply exists in the form of a currency swap, meaning the holder can exchange the foreign currency for US dollars. Since the dollar is very strong against other currencies, there is a possibility that some of those may be executed, but frankly, it's unlikely. There is a reason it is being held in that manner. But it doesn't really matter. It would not cause a 'crash' because it is not a demand for CURRENCY. It is a demand for dollars. Anyone who thinks those two things are the same should never, ever participate in an economic thread. The reality is that almost every single holding of almost every single person in the US is convertible to dollars. In other words, this is really much ado about nothing. So that is bullshit #2.

3. The article does not suggest that this would cause a crash of any kind. That is bullshit #3

Primavera is a fucking moron. I think we all knew this already.
 
A Dutch pension fund or Japanese insurer could use borrow dollars then lend them as euros or Japanese yen, before later repaying them.

The FX swap market has a history of problems, including funding squeezes during both the global financial crisis and again in the early days of the Covid pandemic, before the Federal Reserve raced to the rescue.

Terrifyingly, the $80trillion-plus "hidden" debt estimate is greater than the total stocks of US dollar Treasury bills, repo and commercial paper in circulation combined, BIS said.

In other words, it's bigger than the mighty dollar.

It has grown from $55trillion to $80trillion in a decade, with daily FX swap deals totalling a massive $5 trillion a day.

Non-US banks and pensions funds have twice as much FX swap dollar obligations as the amount of dollar debt that is listed on their balance sheets.
 
Primavera said:
.
Looks like yet another 2008 is in the offing. Only this time it is on a scale never ever seen before. Of course we'll need to consult the likes of Con Artist first though. He's the main man, according to him anyway.

This warning does not come from some headline-grabbing doomsayer but arguably the most respectable financial body of all, the Bank of International Settlements (BIS). This is a body of central bankers based in Basle, Switzerland.

BIS is know as “the central banker’s banker”, an umbrella body for august institutions such as the Bank of England, US Federal Reserve and European Central Bank.

Its researchers can predict financial crises three years in advance using machine learning to aggregate predictions from different models.

Now they are warning of a crash the scale of which we have never seen before, with a staggering $80trillion (£65trillion) at stake.

To put that into perspective, the global financial crisis was triggered by the collapse of Wall Street investment bank Lehman Brothers in September 2008.

That was the largest corporate bankruptcy in US history but its debts totalled "just" $619billion. That is less than one percent of the sums at stake today. One global financial expert contacted by Express.co.uk said a hidden corner of the finance world has been stretched to an “unsustainable” point, leaving the world in a “dangerous position”.

'It'll wipe out every dollar in the world' - new crash fears as $80trillion 'goes missing'. The world faces a staggering financial meltdown with potential losses exceeding the total number of US dollars in circulation.

https://www.express.co.uk/finance/p...entral-bankers-80-trillion-crash-meltdown-BIS no no
Click to expand...

And you will try to blame who for these BAD investments by non American firms?
 
This is why it matters what other nations do huh



This is why it MATTERS to police financial institutions and tax them properly



Thanks for admitting the Democratic Party has wise financial ideas
 
But we all know you assholes will blame your political enemies if this actually takes place as predicted huh



You will somehow claim the Fix is to DEREGULATE everything and to cut more corporate taxes



Fucking idiot Austrians that you are
 
Concart said:
The article is bullshit. The ‘quote’ is unattributed and the BIS made no such conclusion.

The actual story:

https://www.reuters.com/markets/currencies/global-markets-bis-urgent-2022-12-05/
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This is people taking in deposits essentially in unregulated banks," Shin said, adding it was largely about the unravelling of large leverage and maturity mismatches, just like during the financial crash more than a decade ago.

you've offered a distinction without a difference.
 
Concart said:
The article is bullshit. The ‘quote’ is unattributed and the BIS made no such conclusion.

The actual story:

https://www.reuters.com/markets/currencies/global-markets-bis-urgent-2022-12-05/
Click to expand...

Thanks


The right sure didn’t heed the real signs of a crash in 2007 and 2008



They trashed me non stop for predicting it coming


Then denied I showed them the evidence of it coming for a couple of years before it happened


The right sucks at economic management and prediction
 
AssHatZombie said:
This is people taking in deposits essentially in unregulated banks," Shin said, adding it was largely about the unravelling of large leverage and maturity mismatches, just like during the financial crash more than a decade ago.

you've offered a distinction without a difference.
Click to expand...


Show us the posts where you correctly predicted any economic condition asshole



You suck at it
 
I have been reading that China committed the same mistakes we did in 2008. They gave the ability for companies to build homes, apartments, and even cities on borrowed money. Now they are empty and they have no renters. The huge builders are crashing. The banks are too.
 
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