“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/
In a development that has sent shockwaves through the global military community, Iranian armed forces on Thursday successfully targeted a US Air Force F-35 Lightning II, one of the world's most advanced stealth fighter jets.
It marks a potential turning point in modern aerial warfare and has sparked intense debate about the viability of stealth technology against determined, innovative opponents.
According to military pundits, it’s the first time ever that an F-35 jet has been struck.
The first reports emerged from an open source account, which said an F-35A/B Lightning II had “made an emergency landing” after being hit by an Iranian surface-to-air fire.
“We are aware of reports that a U.S. F-35 aircraft conducted an emergency landing at a regional U.S airbase after flying a combat mission over Iran,” Navy Capt. Tim Hawkins of CENTCOM later said in a statement to Military Times.
Social media has been abuzz with reactions to the major development, which has shaken the ...
Iran has obtained authentic information indicating that the United States and Israeli regime seek to announce a temporary ceasefire in the war with Iran in order to buy time, a report says.
Iran's Jamaran news website reported on Friday that the US-Israeli intention for a one- or two-day ceasefire aims to complete a plan to launch an attack on the southern parts of Iran.
“However, Iran has maintained almost complete dominance over the enemy’s sky and space,” it added.
“The least stop in Iran’s effective attacks on this geography can make it possible for the enemy to reconstruct its radars and defensive [systems] in the occupied territories and US bases in the region,” the report emphasized.
According to the report, the balance of power has changed over the past 48 hours after the striking of an American F-35 stealth fighter by Iranian forces, continuation of the Strait of Hormuz closure and high oil prices.
The enemies have considered all these factors in the ceasefire ...
Iran's Foreign Minister Abbas Araghchi has warned that the Islamic Republic will show "ZERO restraint" if its infrastructure is attacked.
"We have intelligence on Israeli plans to strike infrastructure. Once again: ZERO restraint if our infrastructure is attacked," Araghchi wrote in a post on X on Friday.
"We are men and women of principles. Iranians do not sneak attack adversaries while engaged in dialogue. Only when attacked do we powerfully respond," he added.
The warning came as the US and Israel started a fresh round of aerial aggression on Iran on February 28, some eight months after they carried out unprovoked attacks on the country.
Earlier this week, the invading coalition targeted Iran's main gas field, South Pars, in a major escalation. Tehran swiftly responded by targeting Qatar's Ras ......more below
