From King World News
''Almost every single major country in the world is bankrupt, and no one has the tools or a plan to get these countries out of this crisis. So countries will go bankrupt by default or by printing excessive money. This situation will continue to get worse and ultimately lead to a hyperinflationary depression.
Then you have the banking crisis. The banks are insolvent and they are also in a liquidity crisis. And this is, again, worldwide. There is no way the banks will be able to survive this without massive assistance.
This is a banking crisis of the magnitude which will amount to trillions of dollars, and if we take the whole of the derivative positions, it could be hundreds of trillions of dollars because of the counterparty risks.''
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