{"id":34730,"date":"2018-06-04T05:56:41","date_gmt":"2018-06-04T10:56:41","guid":{"rendered":"http:\/\/olduvai.ca\/?p=34730"},"modified":"2018-06-04T05:56:41","modified_gmt":"2018-06-04T10:56:41","slug":"banking-system-has-huge-problem-peter-schiff","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=34730","title":{"rendered":"Banking System Has Huge Problem \u2013 Peter Schiff"},"content":{"rendered":"
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Banking System Has Huge Problem \u2013 Peter Schiff<\/a><\/h3>\n<\/header>\n
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\"\"<\/a><\/strong>Money manager Peter Schiff says even though Deutsche Bank is the most systemically dangerous bank in the world (according to the IMF), that is just the tip of severe global financial problems. Schiff explains, \u201cI think it\u2019s a problem, and it\u2019s not just Deutsche Bank. Deutsche Bank could be the weak link of a chain. If you remember back to when we had the financial crisis (2008). First, you had the sub-prime mortgages blowing up, and everybody was like don\u2019t worry about it. It\u2019s contained. I said it\u2019s not contained, it\u2019s just showing up first in the sub-prime market because these are the weakest mortgages. The entire mortgage market has a problem. <\/span>\u00a0I think the banking system has a huge problem because it\u2019s lived off of the life support of artificially low interest rates. As that is removed, it\u2019s like pulling the plug off of someone who has lived off life support. The irony is you have so many analysts that think higher rates are good for the banks. . . . Low interest rates saved the banks. You can\u2019t have it both ways. It can\u2019t be low interest rates helped the banks, and high interest rates will help the banks. It\u2019s one or the other. I think higher interest rates are going to crush the banks. I think it\u2019s going to destroy the value of their loans and their collateral. It\u2019s going to lead to defaults . . . All those banks that we\u2019re too big to fail in 2008 are much bigger now, and it\u2019s going to be a lot more difficult to bail them out.\u201d<\/p>\n

Schiff issues a stark warning, \u201cThis is not going to end well, and I don\u2019t think the Fed is going to be able to save us again. If you get it wrong this time, you\u2019re done. You are down for the count. You just can\u2019t hold and hope.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Banking System Has Huge Problem \u2013 Peter Schiff Money manager Peter Schiff says even though Deutsche Bank is the most systemically dangerous bank in the world (according to the IMF), that is just the tip of severe global financial problems. Schiff explains, \u201cI think it\u2019s a problem, and it\u2019s not just Deutsche Bank. Deutsche Bank […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[2229,63,1839,303,312,8757,418,434,963,3650,9699],"class_list":["post-34730","post","type-post","status-publish","format-standard","hentry","category-economics","tag-banking-system","tag-banks","tag-deutsche-bank","tag-fed","tag-financial-crisis","tag-greg-hunter","tag-imf","tag-international-monetary-fund","tag-peter-schiff","tag-us-federal-reserve","tag-usa-watchdog"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/34730","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34730"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/34730\/revisions"}],"predecessor-version":[{"id":34731,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/34730\/revisions\/34731"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}