Pam and Russ Martens: Is there a stealth financial crisis? Alarms are ringing

Section:

By Pam and Russ Martens
Wall Street on Parade
Thursday, July 11, 2019

Shhh! Don't wake the Wall Street bank regulators from their decade-long slumber to whisper in their ear that the same critical signs they ignored in 2007 and early 2008 are rearing their ugly heads again.

Let's take a look at the clear warning signs that began in July 2007 and then contrast them against what is happening today.

... Dispatch continues below ...



ADVERTISEMENT

The Safest and Most Efficient Way to Own
Gold and Silver in the United Kingdom

GoldCore's mission statement since 2003 has been to protect and grow the wealth of our clients, and given the growing risks in the United Kingdom and internationally, we have put together for clients who are tax-resident in the United Kingdom an exclusive gold and silver offer free of capital gains tax.

On all lump-sum and pension investments worth more than GBP 10,000 in gold and or silver (capital gains tax-free gold and silver Britannias and gold Sovereigns) stored in Zurich you will benefit from free secure storage for six months. We also will send you one British legal-tender silver bullion coin, a beautiful 1-ounce silver Britannia.

Please visit GoldCore here for more information about this offer:

https://tinyurl.com/y5jq2pl7

GoldCore does not report transactions to any authority. Safety, privacy, and confidentiality are paramount when we are entrusted with storage of our clients' precious metals.

Email the GoldCore team at info@goldcore.com or call our trading desk:

UK: +44(0)203-086-9200. U.S.: +1-302-635-1160. International: +353(0)1-632-5010.

Visit us at:

http://www.goldcore.com



On July 17, 2007, Bear Stearns announced that two of its hedge funds, which had held about $1.5 billion in investor capital in the first quarter of the year, were now mostly worthless. On August 9, 2007, BNP Paribas, France's largest publicly traded bank, announced it was freezing customer withdrawals from three of its funds, effectively preventing customers from accessing $2.2 billion. It cited "evaporation of liquidity" and the inability "to value certain assets."

Fast forward to today: On June 3, 2019, one of Britain's highest-profile money managers, Neil Woodford, stunned global markets by announcing that his firm's flagship fund, the $4.7 billion Woodford Equity Income Fund, would freeze customer withdrawals. The decision resulted from heavy outflows and a large stake in illiquid stocks. The U.K. securities regulator, the Financial Conduct Authority, has opened an investigation into the matter. ...

... For the remainder of the commentary:

http://wallstreetonparade.com/2019/07/is-there-a-stealth-financial-crisi...

* * *

Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Friday-Monday, November 1-4, 2019

https://neworleansconference.com/

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16