Nafeez Ahmed reports on financial institutions preparing for social breakdown as a result of energy and food shocks
Global banks and investment firms are bracing themselves for an “unprecedented” upsurge in civil unrest in the US, UK and Europe as energy and food price spikes are set to drive costs of living to astronomical levels, Byline Times can exclusively reveal.
The information comes from the head of a ‘financial institutions group’ – which provides expertise and advisory services to other banks, insurance companies, and other financial institutions – at one of the largest investment firms in the US.
The senior investment executive, who spoke to Byline Times on condition of anonymity because the information he revealed is considered highly sensitive, said that contingency planners at top financial institutions believe “dangerous levels” of social breakdown in the West are now all but inevitable, and imminent. An outbreak of civil unrest is expected to occur anytime this year, but most likely in the coming months as the impact of the cost of living crisis begins to saturate the lives of “everyone”.
Well-to-do middle classes will find it hard to afford staple foods and pay bills. So we are anticipating dangerous levels of civil unrest that could spiral into an unprecedented social crisis
The executive works at a leading Wall Street firm which is considered a systemically important financial institution by the US Financial Stability Board. These are institutions whose functioning is considered critical to the US economy, and whose failure could trigger a financial crisis.
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