With more people becoming increasingly fearful because of moves in the West to legalize bank bail-ins, today David Stockman spoke with King World News about what is going to trigger the next Lehman moment that will usher in the age of bail-ins.
Eric King: “David, what is the biggest danger facing the world?”
David Stockman: “The biggest danger is that we have a totally artificial, unstable monetary system. We’ve created massive amounts of credit that can’t be supported or repaid. All of this makes for instability.…
Continue reading the David Stockman interview below…
“In June, you couldn’t find one out of a thousand people who would predict the oil price would be $55 a barrel today. But it is and we are just beginning to see all the collateral impacts of that.”
Eric King: “David, there is so much out there that could get the dominos tumbling, but what is going to cause the next Lehman moment that triggers (bank) bail-ins in the West?”
Stockman: “The unraveling of the energy bubble. That (bubble) was massive globally. So there is going to be some real dislocation in the whole energy supply and production system. That could trigger some serious dislocations in the credit markets because energy or junk shale bonds are the subprime this time around.” KWN has now released the fascinating David Stockman audio interview where he discusses his surprising predictions for 2015, the biggest danger facing the world today, West vs East conflict, black swans, the gold market and much more. You can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
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The audio interviews with David Stockman, Dr. Philippa Malmgren, Egon von Greyerz, Dr. Paul Craig Roberts, Stephen Leeb, Andrew Maguire, John Embry, Gerald Celente, Rick Rule, Bill Fleckenstein, Ben Davies, William Kaye, Rick Santelli, John Mauldin and Marc Faber are available now. Other recent KWN interviews include Jim Grant and Felix Zulauf — to listen CLICK HERE.