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Hugo Salinas Price: The coming liquidation
8p ET Wednesday, June 17, 2015
Dear Friend of GATA and Gold:
If interest rates continue rising, banks and other bond investors stand to lose everything they made as rates were being pushed down by central banks, Hugo Salinas Price of the Mexican Civic Association for Silver writes today, adding that rising interest rates may explode all sorts of derivative instruments.
Salinas Price writes: "Banking systems are investors in bonds, and bonds make up an important part of their assets. In Europe, if the assets of the banking system fall by only 4 percent, then the whole European banking system is bankrupt. A collapse in bond prices caused by rises in interest rates would be deadly for the whole European banking system, and if Europe collapses, the rest of the world would have to follow suit."
Salinas Price's commentary is headlined "The Coming Liquidation" and it's posted at the association's Internet site, Plata.com, here:
http://plata.com.mx/mplata/articulos/articlesFilt.asp?fiidarticulo=265
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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