Monday, June 22, 2015

Nomi Prins, Keynote Speaker Who Addressed The Fed, IMF And World Bank, Warns There Is No Saving This Global Financial System

"Today Nomi Prins, who was the keynote speaker that just addressed the Federal Reserve, IMF and the World Bank, warned King World News that there is no saving this global financial system in the second of a series of powerful interviews that have now been released.

Who Will Save The System The Next Time It Begins To Implode?
Eric King:  “You mentioned that we are in unprecedented times.  And the concern is that when the 2008 collapse unfolded there was all this money printing and the banks were bailed out.  It really fell on the shoulders of the taxpayers, but the concern as you said is that this leverage is growing.  There are over one quadrillion dollars of derivatives.  With the leverage totally ramped up in (terms of) the central banks’ (balance sheets), who will save the financial system (this time around)?  Who will save the banks?  There are all these bail-ins that have been written into law in the West and it seems like the next move is just to steal money from the public.  Who will save the system this time when it implodes?
Nomi Prins:  “When it implodes it will implode more dangerously.  The IMF and the Fed have different ideas about whether rates should stay low or go up.  In this particular round the IMF won.  They want rates to stay low because they don’t know what’s going to happen to the global financial system if the availability of cheap money goes away…."


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