“EVERYTHING you know about the 2008 GFC is wrong”
We've all been told that the 2008 global financial crisis resulted from a housing bubble and bad mortgages but that may not be true.
Jeff Snider has uncovered the truth. The real cause of the global financial crisis was the breakdown of the dollar funding markets.
Looking at these charts, how in the world are we supposed to believe that officials will get everything right from here on?
We haven't even gotten to the worst of it yet, these 1st qtr #s having so much less to do w/non-economic factors. https://t.co/dw8UDUa0nJ pic.twitter.com/9yOTtF04dS
— Jeffrey P. Snider (@JeffSnider_EDU) April 30, 2020
More specifically, the Eurodollar system has now taken over the role of the world reserve currency.
That's right. The US dollar isn't the world reserve currency as you know it. According to Jeff Snider, it's a shadow banking entity system that creates dollar loans (dollar money supply) outside the US system.
INFORMATION! YOU'LL NEVER SEE IN THE MAINSTREAM MEDIA!
Jeff Snider is one of the premier macro thinkers in the world. The amount of research he's done on these topics is staggering.
What's covered in the above video:
- Overview of monetary history outlined by Jeff Snider.
- How the system is now broken and what actually caused the 2008 global financial crisis.
- The global economy is still in the GFC that started in 2008, nothing has been fixed and the system is primed to crash again.
Real Vision video with Jeff Snider (I highly recommend).