Billionaire Issues Chilling Warning About Interest Rate Derivatives (8/5/2013)Submitted by Cyril on Sat, 08/31/2013 - 00:13
On The Economic Collapse Blog, 8/5/2013
MP3 of the interview :
Hugo Salinas Price :
"[...] I think we are going to see a series of bankruptcies. I think the rise in interest rates is the fatal sign which is going to ignite a derivatives crisis. This is going to bring down the derivatives system and the financial system.
There are over one quadrillion dollars of derivatives and most of them are related to interest rates. The spiking of interest rates in the United States may set that off. What is going to happen in the world is eventually we are going to come to a moment where there is going to be massive bankruptcies around the globe.
What is going to be left after the dust settles is gold, and some people are going to have it and some people are not. Then the problem is going to be to hold on to what you’ve got because it’s not going to be a very pleasant world [...]"
Read on :
On The Economic Collapse Blog :
On KWN :
See also :
Billionaire Hugo Salinas Price mentions Ron Paul silver coin on King World News (3/31/2012)