Relevant:
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- G8 Meeting May Challenge Reflation Trade
- Derivatives Should Be Banned From Financial Markets - Rickards
- Derivatives Markets Become Officially "Too Big To Fail" - Taxpayers, Get Ready To Pay For The Next MF Global
- Embry - Bond Market Implosion Inevitable (and guess what will benefit...)
2013-08-26 — kingworldnews.com
Eric King: "In your last interview last week you brought up the fact that there was an emergency meeting taking place at the White House because the surge in interest rates had already seriously destabilized the entire financial system. This is due to the underlying derivatives exposure. You pointed out that the meeting was attended by the head of every significant financial agency in the United States, as well as the Fed and the Comptroller of the Currency. I couldn't help but notice that since the day of that meeting (last Tuesday) bonds have been rallying."
Embry: "Well, that doesn't surprise me. That's what the meeting was about. I strongly believe that had the 10-Year bond roared through a 3% yield, that really would have unleashed chaos in the derivatives market. Once there is an explosion in the derivatives markets, it becomes a cascading series of blowups and it completely destabilizes the entire financial system.
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