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UN fears third leg of the global financial crisis - with prospect of epic debt defaults


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(Worthy News) - The third leg of the world's intractable depression is yet to come. If trade economists at the United Nations are right, the next traumatic episode may entail the greatest debt jubilee in history.

It may also prove to be the definitive crisis of globalized capitalism, the demise of the liberal free-market orthodoxies promoted for almost forty years by the Bretton Woods institutions, the OECD, and the Davos fraternity.

"Alarm bells have been ringing over the explosion of corporate debt levels in emerging economies, which now exceed $25 trillion. Damaging deflationary spirals cannot be ruled out," said the annual report of the UN Conference on Trade and Development (UNCTAD). [ Source ]

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Does the un really fear this? 

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On a related note...

https://www.rt.com/business/360382-bank-of-england-china-bubble/

Britain's central bank has warned that growing Chinese debt is a threat to global financial stability. Chinese firms are borrowing faster than the GDP is growing, according to the bank.

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Who is China borrowing from?

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1 hour ago, nebula said:

Who is China borrowing from?

I am not not sure who all they borrow form, but it seems at a bare minimum it is from British banks.

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The golden rule (of the world) is -

`He who holds the gold - rules.`

As the globalists (G 20) are about to empower the IMF to become their central bank, then they will print the money & give it out in exchange for control & power over the nations. It is just the next step in the coming together of man`s global system to control every aspect of our lives.

People will run around like `Henny Penny & the sky is falling...` when really it is just a restructuring of the Global economic architecture. Only a crisis will make people give their power & authority away.  

Marilyn. 

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