{"id":37398,"date":"2018-09-05T07:57:54","date_gmt":"2018-09-05T12:57:54","guid":{"rendered":"http:\/\/olduvai.ca\/?p=37398"},"modified":"2018-09-05T07:57:54","modified_gmt":"2018-09-05T12:57:54","slug":"major-currencies-all-over-the-world-are-in-complete-meltdown-as-the-63-trillion-em-debt-bubble-implodes","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=37398","title":{"rendered":"Major Currencies All Over The World Are In \u201cComplete Meltdown\u201d As The $63 Trillion EM Debt Bubble Implodes"},"content":{"rendered":"
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Major Currencies All Over The World Are In \u201cComplete Meltdown\u201d As The $63 Trillion EM Debt Bubble Implodes<\/a><\/h3>\n<\/header>\n
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\"\"<\/a>The wait for the next global financial crisis is over.\u00a0 Major currencies all over the planet are in a \u201cdeath spiral\u201d, many global stock markets are crashing, and economic activity is beginning to decline at a stunning rate in quite a few nations.\u00a0 Over the past 16 years, the emerging market debt bubble has grown from 9 trillion dollars to 63 trillion dollars.\u00a0 Yes, you read that correctly.\u00a0 Now that emerging market debt bubble is imploding, and as a result emerging market currencies all over the globe are in \u201ccomplete meltdown\u201d.\u00a0 In fact, at least 20 different currencies have fallen by double-digit percentages against the U.S. dollar so far in 2018, and nobody is quite sure what is going to happen next.<\/p>\n

You may be tempted to think that this must be a good thing for the United States since the value of the U.S. dollar has been rising, but it is not.<\/p>\n

During the \u201cboom years\u201d, trillions of dollars were borrowed by emerging market economies, and a high percentage of those loans were denominated in U.S. dollars.\u00a0 Now that their currencies are crashing, it is going to take much more local currency to service those U.S.-denominated debts, and a whole lot of them are going to start going bad.<\/p>\n

That means that many financial institutions here in the United States and over in Europe are going to end up holding enormous piles of bad debt, and the losses could potentially be astronomical.<\/p>\n

The dominoes are starting to fall, and even the mainstream media is admitting that what we are facing is really bad.\u00a0 For example, the following comes from a CNBC article entitled \u201cThe emerging market crisis is back. And this time it\u2019s serious\u201d<\/a>\u2026<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Major Currencies All Over The World Are In \u201cComplete Meltdown\u201d As The $63 Trillion EM Debt Bubble Implodes The wait for the next global financial crisis is over.\u00a0 Major currencies all over the planet are in a \u201cdeath spiral\u201d, many global stock markets are crashing, and economic activity is beginning to decline at a stunning […]<\/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":[2251,90,21215,195,8444,4106,21534,8535,21216,7581,21535,21217,21218,1732,7196,422,480,488,21219,4901,21220,8644,7452,8645,818,851],"class_list":["post-37398","post","type-post","status-publish","format-standard","hentry","category-economics","tag-argentina","tag-brazil","tag-cheap-loans","tag-debt","tag-debt-bubble","tag-debt-crisis","tag-debt-crisis-of-2018","tag-emerging-market","tag-emerging-market-currencies","tag-emerging-market-currency-crisis","tag-emerging-market-debt-bubble","tag-emerging-market-debt-crisis","tag-emerging-market-economies","tag-emerging-markets","tag-global-debt-crisis","tag-india","tag-lending","tag-loans","tag-loans-in-u-s-dollars","tag-michael-snyder","tag-servicing-loans","tag-the-dollar","tag-the-economic-collapse-blog","tag-the-u-s-dollar","tag-turkey","tag-venezuela"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37398","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=37398"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37398\/revisions"}],"predecessor-version":[{"id":37399,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37398\/revisions\/37399"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}