Except this time the problem will be much, much deeper. The amount and value of derivatives is MUCH larger than in 2008. And the banks can’t unwind their derivatives because—you’re not going to like this—they’re not able to accurately value them. There’s simply too many and the daisy chain too big and complicated.
But here’s the thing… in the next financial crisis—and there will be another financial crisis, it’s unavoidable—traditional wealth won’t be destroyed by the turmoil in the banking sector. It will destroyed by the reaction of governments and central bankers.
If governments refuse to let the financial industry fail—and logic dictates that they cannot under any circumstances let that happen—and the problem is much bigger than the last financial crisis, then the level of intervention by central bankers and politicians will be on a truly unprecedented scale.
We don’t know exactly what they’ll do, but we do know they will react. We also know what some of the likely options will be—all of which will devalue the dollar bill in your wallet…
• More QE/money printing
• Helicopter money
• Massive expansion of credit
• Massive launch of government backed bonds
As Mike states in his video, the debt based global monetary system
However, Mike is very clear on who he believes will be the survivors: gold and silver owners.
Your wealth will not be destroyed in the next crisis if you own a meaningful amount of gold and silver bullion.