Podcast-The Coming Derivatives Bubble Collapse- Prepper Recon Interview on The Midnight Patriot
The Coming Derivatives Bubble Collapse- Prepper Recon Interview on The Midnight Patriot
I am back in the hot seat for another interview with Jeff Norton, The Midnight Patriot. This week, we spoke about the derivatives time bomb and the effect its implosion would have on the global economy. We talk about what you should be doing right now to get yourself prepared to weather the coming storm. We talk about some safe haven assets that will better preserve your wealth if the unthinkable does happen.
Jeff Norton has a great show going every weeknight from 10:00 EST to 12:00 EST. You can check it out any night Monday thru Friday at TheMidnightPatriot.com. If you cannot listen live, the shows are available the next day to download from his Spreaker feed at the top of The Midnight Patriot web page.
Podcast: Play in new window | Download
In today’s interview, I did my best to take the complex nature of interest rate swaps and explain them in easy to understand terms. In this interview, I explain how this class of derivatives could cripple our economy. I give the specific laws that will apply to bankruptcy of the large banks when the derivatives time bomb explodes. Most folks wrongly believe that their deposits belong to them, and that they will be first in line in case of a bankruptcy. In fact, the derivatives will receive super priority and depositors will be treated as unsecured creditors if that awful day ever comes. Folks then believe that the FDIC will make them whole, but the FDIC is insuring nearly $10 trillion in deposits with an insurance fund of around $30 billion or 0.3% of the amount insured. Yes, the Fed will print the money to get to the depositors, but what will be the value of the dollars once all of those newly created bills get into circulation? The time is now to start hedging yourself for such a dark day.
Don’t miss this awesome interview! Subscribe to the Prepper Recon Podcast on Stitcher, iTunes or YouTube to get every episode jam packed with information you can’t afford to miss!
In my new book, American Exit Strategy, Book One of The Economic Collapse Chronicles, I use survival fiction to take an in-depth look at the real life politics and economics behind the issues that are likely to trigger a currency collapse or financial meltdown in the near future.
Liberty minded individuals and those who believe in the Constitution will find this near future dystopian novel to be right up their alley. Those who are looking to be more informed about the potential threats to America’s financial stability will learn what to watch for and how to prepare themselves for an economic collapse.
Get your copy today from AmericanExitStrategy.com or you can buy it on Amazon or in the Kindle Store.
Happy prepping!
MDG
