Something happened on Friday. The credit default swaps of many financial institutions, including but not limited to German banking ‘monster’ Deustche Bank and Charles Shwab, one of the world’s largest asset managers, shoot up. We may thus be facing a catastrophic run to financial sector assets.
We have published a new, and very important warning in the GnS Economics Newsletter. Due to the severity of the situation, I am very exceptionally urging my subscribers to check it out, noting that it is mostly behind a paywall.
Like I wrote on Thursday, we will not publicly disclose what we know, so that we do not feed the panic. However, we have a responsibility towards our clients to keep them safe and that’s what we do, with the best of our ability.
I urge everyone to take precautionary measures,
Tuomas
Disclaimer:
The information contained herein is current as at the date of this entry. The information presented here is considered reliable, but its accuracy is not guaranteed. Changes may occur in the circumstances after the date of this entry and the information contained in this post may not hold true in the future.
No information contained in this entry should be construed as investment advice. Readers should always consult their own personal financial or investment advisor before making any investment decision, and readers using this post do so solely at their own risk.
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