Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’

Important Takeaways:

• ‘It’ll wipe out every dollar in the world’ – new crash fears as $80 trillion ‘goes missing’
• The world faces a staggering financial meltdown with potential losses exceeding the total number of US dollars in circulation.
• This warning…Comes from the Bank of International Settlements (BIS). This is a body of central bankers based in Basle, Switzerland.
• 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.
• Reuters reports that pension funds and other “non-bank” financial firms have more than $80trillion of hidden, off-balance sheet dollar debt in FX swaps.
• [In short] A Dutch pension fund or Japanese insurer could use borrow dollars then lend them as euros or Japanese yen, before later repaying them.
• 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.
• It has grown from $55trillion to $80trillion in a decade, with daily FX swap deals totaling a massive $5 trillion a day.
• The world would be helpless in the face of a meltdown on this scale, yet nobody has any control over the market.

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