Warning About US Economy: Banking Crisis New Info Is Out

It’s been recently revealed that there is some new info about the banking crisis in the US. Check out the latest reports below.

Macro Investor Bert Dohmen just issued a dire warning on the future of the US and global economy.

In a new interview with Stansberry Research, the founder of Dohmen Capital Research says anyone who believes the banking crisis is over is engaged in wishful thinking.

“We have three of the biggest banking failures in US history within six days and everybody’s pretending this is a one-off event that won’t happen again.”

He continued and said the following:

“This is the tip of the iceberg, and if you know about icebergs you know one-seventh of the iceberg is above water. That means six-sevenths of the iceberg is below water and that’s going to sink everybody else.”

He stated this:

“Not only did we have these bank failures in the US, it was followed by the biggest bank failure in Switzerland ever. The biggest bank, Credit Suisse, 137 years old, went bankrupt overnight and had to be bailed out. This is going to be an international crisis.”

He also believes the fact that decades of systemic risk have also built up in the derivatives market. He believes is headed for a seismic crash.

“There is about $1.6 quadrillion of derivatives outstanding internationally. That is such a staggering amount. No one can really imagine how big that number is, and it’s totally unregulated. The CFTC in 1999 tried to get derivatives regulated and was fought by the biggest names that you can imagine in the investment field because it would have stopped that whole game of playing with derivatives…”

Check out the original article posted by the Daily Hold in order to learn what more he had to say about the matter.