What I’m about to say, I say from a position of uncertainty. When oil can trade at negative $40, it’s hard to be definitive about anything.
Even before the global economy started grinding to a halt, it was already burdened by the considerable weight of $250 trillion in worldwide debt - 50% more than during the last crisis.
Now, most of the world’s economic engines are either shut down or sputtering to start up again, having pledged to take on hundreds of billions more in debt in an attempt to give their businesses and banks CPR.
Given the current circumstances, despite the rescue checks and the salvaging loans, it’s not beyond the pale to expect that many businesses will fail, and that hundreds of millions of people worldwide will lose their jobs and won’t be able to pay their loans, mortgages, or other consumer debts.
Many banks will suffer as a result, and some of those will likely fail, too.
Again, I don’t have a crystal ball, but I’ll repeat that we could very well see bank failures.
That’s why it’s important to give serious consideration to where we’re parking our money.
And while no solution is rock-solid, there are safer banks and better jurisdictions in which to hold funds... and there are terrible ones.
It’s my and my team’s responsibility to cut through the hysteria, and give you the tools to face what might be coming.
Learn about them in this SMC Alert.
Even before the global economy started grinding to a halt, it was already burdened by the considerable weight of $250 trillion in worldwide debt - 50% more than during the last crisis.
Now, most of the world’s economic engines are either shut down or sputtering to start up again, having pledged to take on hundreds of billions more in debt in an attempt to give their businesses and banks CPR.
Given the current circumstances, despite the rescue checks and the salvaging loans, it’s not beyond the pale to expect that many businesses will fail, and that hundreds of millions of people worldwide will lose their jobs and won’t be able to pay their loans, mortgages, or other consumer debts.
Many banks will suffer as a result, and some of those will likely fail, too.
Again, I don’t have a crystal ball, but I’ll repeat that we could very well see bank failures.
That’s why it’s important to give serious consideration to where we’re parking our money.
And while no solution is rock-solid, there are safer banks and better jurisdictions in which to hold funds... and there are terrible ones.
It’s my and my team’s responsibility to cut through the hysteria, and give you the tools to face what might be coming.
Learn about them in this SMC Alert.
What I’m about to say, I say from a position of uncertainty. When oil can trade at negative $40, it’s hard to be definitive about anything. Even before the global economy started grinding to a halt, it was already burdened by the considerable weight of $250 trillion in worldwide debt – 50% more than during…
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