Unknown to most observers is that the financial dangers of 2008 have not gone away, in fact, the situation is worse. The biggest banks are even bigger with a larger share of total bank assets. The taxpayers bailed out the system in 2008 and got nothing in return except the prospect of having to do it again. If the system is riskier and more dangerous than it was in 2008, where will the next collapse begin? What domino will cause the other dominoes to fall? A survey of the big three currency areas – Europe, China and the United States – provides a foundation for understanding why real risks remain and a new catastrophe is looming."
- James Rickards via IISS confernce, read the full presentation here: