Tag: bank for international settlements

The Head Of ‘The Central Bank Of The World’ Warns That Another Great Financial Crisis May Be Coming

Posted by on July 15, 2014 in Economy with 0 Comments
The Head Of ‘The Central Bank Of The World’ Warns That Another Great Financial Crisis May Be Coming

Jaime Caruana, General Manager of the Bank for International Settlements since 2009, recently warned that the global financial system is currently “more fragile” in many ways than it was just prior to the collapse of Lehman Brothers. Speaking of the financial markets, Caruana ominously declared that “it is hard to avoid the sense of a puzzling disconnect between the markets’ buoyancy and underlying economic developments globally” and he noted that “markets can stay irrational longer than you can stay solvent”. In other words, he is saying what I have been saying for so long. The behavior of the financial markets has become completely divorced from economic reality, and at some point there is going to be a massive correction.

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