Keynote Speaker Who Just Addressed The Federal Reserve, IMF And World Bank Warns That The Coming Collapse Will Be Devastating

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Keynote Speaker Who Just Addressed The Federal Reserve, IMF And World Bank Warns That The Coming Collapse Will Be Devastating

Today the keynote speaker who just addressed the Federal Reserve, IMF and the World Bank warned King World News that the coming collapse will be devastating.

Eric King: “Nomi, as you go through these cycles they increase in intensity. When we had the 2001 – 2003 debacle, I think people just didn’t believe it could get any worse. And then the 2008 – 2009 (collapse) really frightened people around the world. It got them in a state of terror, and I’m talking about big money.

I remember reading about guys like (multi-billionaire Richard) Branson (essentially) saying, ‘I almost lost all my money. We have to make sure we know where our money is — what banks and what instruments it is in.’ Prior to that people were a little lackadaisical as you know. But the idea that it could get worse than 2008 – 2009, people just don’t believe it.

But as you go through these cycles, that’s the nature of them — they just become more and more intense. You are describing the next unwind. I’m just wondering about your vision of that because it’s going to be significantly worse and more terrifying than 2008 – 2009, even though people can’t grasp that.”

The Coming Collapse Will Be Even More Devastating

Nomi Prins: “I believe the coming collapse will be more devastating. You mentioned 2003. One of the things I remember thinking in 2004 was that unless we fix the banking system, which was involved in all the corporate frauds at Enron, Worldcom, and all the settlements that were going on back then, without decoupling people’s deposits and loans from these types of risky global endeavors and trading operations and derivatives transactions that these banks are allowed to have in such bulk, we are going to have another (catastrophic) problem.

“Of course we had the 2008 crisis. And now we have a situation where not only have none of these banks readjusted such that their risk is decoupled from individuals’ money and loans, but there has been that immense infusion — $7 trillion just between the Fed and the ECB, not to mention the other global central banks — of effectively zero interest rates or free cash into the system…..More Here

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