“The risk of over-tightening by the European Central Bank is nothing less than catastrophic” says Prof Kenneth Rogoff .
At Davos he also said: “Italy is extremely vulnerable. But this could pop anywhere. Global debt has gone up massively since the pandemic: public debt, corporate debt, everything.”
Rogoff believes that it is a miracle that the world averted a financial crisis in 2022, but the odds of a major accident are shortening as the delayed effects of past tightening feed through.
As Rogoff said: “We were very fortunate that we didn’t have a global systemic event in 2022, and we can count our blessings for that, but rates are still going higher and the risk keeps rising.”
But lurking in the murkiness is also the global financial assets/liabilities which is almost $500 trillion including the shadow banking system at 46% of the total. The shadow banking sector includes pension funds, hedge funds and other financial institutions which are largely unregulated.....More Below
https://goldswitzerland.com/as-west-debt-stocks-implode-east-gold-oil-will-explode/
The Islamic Revolution Guards Corps (IRGC) has struck more than 100 targets in the city of Tel Aviv in retaliation for the martyrdom of Dr. Ali Larijani, Iran's former top security official, during unprovoked American-Israeli aggression against the country.
In a statement on Wednesday, the IRGC announced hitting the targets during the 61st wave of its ongoing retaliatory Operation True Promise 4 in the face of the aggression.
The hostile objects, it added, were targeted using multi-warhead Khorramshahr-4 and Qadr missiles as well as Emad and Kheibar Shekan projectiles as a means of avenging the martyrdom of Dr. Larijani, the former secretary of Iran's Supreme National Security Council (SNSC), the statement read.
"During these intense lightning strikes, the Khorramshahr-4 and Qadr missiles hit more than 100 military and security targets in the heart of the occupied territories without facing any obstruction," it added.
The IRGC put the facility characterizing this stage of the reprisal down to ...
Mohsen Rezaee, a member of the Expediency Discernment Council, has said preconditions include reparations and security guarantees
For the ongoing conflict between Iran and the US to conclude, the latter must withdraw its military forces from the Persian Gulf, according to a member of the advisory board of Iran’s supreme leader.
Mohsen Rezaee, a retired major general and former commander of the Islamic Revolutionary Guard Corps (IRGC), added that Tehran would also seek full restitution for the damage done and ironclad security guarantees from Washington.
In an interview with Iran’s SNN TV broadcaster published on Saturday, the member of the Expediency Discernment Council said that the “presence of the US in the Persian Gulf has been the main cause of insecurity over the past 50 years.”
“The end of the war is also in our hands,” Rezaee claimed, naming the “US withdrawal from the Persian Gulf” among the key prerequisites. Additionally, Iran expects to receive reparations from the ...
The spokesman for the Khatam al-Anbiya Central Headquarters has accused the United States and Israel of deploying a rebranded copy of Iran’s Shahed-136 drone, designated “Lucas,” to carry out attacks on civilian infrastructure in regional countries as part of a deliberate false-flag operation aimed at framing the Islamic Republic.
In an official statement released today, the spokesman explained that after suffering military setbacks on the battlefield and failing to build political coalitions against Iran, the enemy has resorted to deception.
The statement specifically warned that the objective of these operations is to “create doubt and accuse the Islamic Republic of Iran” while sowing discord between Tehran and its neighbors, thereby undermining the legitimacy of Iran’s defensive actions.
The spokesman pointed to a series of “suspicious attacks” in recent days on facilities in friendly neighboring countries, including Turkey, Kuwait, and Iraq, which Western media outlets and hostile ...
