Australian financial commentator Michael Cowan discusses the possiblility of a banking system ‘Black Swan Event’ following confirmation of a planned simulation arranged by some of the world’s largest banks.
- Major US banks to participate in a ‘climate scenario’ exercise.
- Central banks around the world are starting to panic as they know this current economic model’s days are numbered, and the ‘whole monetary system’ is coming to an end.
- Central banks are trying to create a new financial system.
- ‘When you see all these massive institutions doing these exercises, it’s only a matter of time before we’re going to see a massive Black Swan Event.
- Bank of England recently had to intervene in the bond market because pension funds are too highly leveraged with debt – they were about to get liquidated and margin-called, which is why the Bank of England had to step in.
- Inflation continues to rise to unprecedented levels.