Financial markets were jittery already. But then Credit Suisse’s credit default swaps started to blow out, signalling a rising probability of default. It’s all so familiar, isn’t it? Tight monetary policy, falling house prices, plunging stocks, failing funds and now –a bank that’s in trouble...
But there’s something special about banks. Former member of the European Parliament Godfrey Bloom explained it to his fellow politicians years ago:
“It is my opinion that you do not really understand the concept of banking. All the banks are broke. Why are they broke? They’re broke because we have a system of fractional reserve banking, which means banks can lend money which they don’t actually have. It’s a criminal scandal and it has been going on for too long.”
One of the reasons why Nigel Farage decided to partner with Rob Marstrand to launch UK Independent Wealth is that Rob left banking to evade the 2008 financial crisis. In other words, Rob knows a thing or two about banking crises (and anticipating them.)
The fact that he jumped out of the frying pan and into the fire, in the form of Argentina, means he also knows about how to deal with inflation. Rob is the perfect man for our times, then.
In past videos, we’ve focused on inflation and Argentina. But this time, we take a look at the potential banking crisis breaking out right now, and what it means for you...
Check out these videos you might also like:
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