Article translated using Google translator.
For anyone not familiar with BIS – it is the Bank for International Settlements and there is an old thread I found that has some useful information if anyone would like to familiarize themselves with it.
Original source link:
So…BIS, one of the largest financial institutions in the world, has announced impending doom?
Thought this was newsworthy & didn’t see it posted yet.
Most of the people who have been paying attention already know that the current pace of credit is unsustainable.
The credit bubble WILL eventually burst – most financial professionals & analysts at least acknowledge that.
We cannot continue the easy credit & free money of the last decade & the question of systemic collapse at this point is really “when” – not “if”.
One thing I am pretty sure of is that when that time does come Bernanke sure as hell isn’t going to be able to do anything to stop it.
Good luck America – Good luck World.edit on 20-9-2013 by coldkidc because: (no reason given)