Prophecy Sign: The coming global economic collapse
“They will say, ‘The fruit you longed for is gone from you. All your luxury and splendor have vanished, never to be recovered.’ The merchants who sold these things and gained their wealth from her will stand far off, terrified at her torment. They will weep and mourn. Revelation 18:14-15 NIV
Swiss Shocker Triggers Gigantic Losses For Banks, Hedge Funds And Currency Traders
The absolutely stunning decision by the Swiss National Bank to decouple from the euro has triggered billions of dollars worth of losses all over the globe. Citigroup and Deutsche Bank both say that their losses were somewhere in the neighborhood of 150 million dollars, a major hedge fund that had 830 million dollars in assets at the end of December has been forced to shut down, and several major global currency trading firms have announced that they are now insolvent. And these are just the losses that we know about so far. It will be many months before the full scope of the financial devastation caused by the Swiss National Bank is fully revealed. But of course the same thing could be said about the crash in the price of oil that we have witnessed in recent weeks. These two “black swan events” have set financial dominoes in motion all over the globe. At this point we can only guess how bad the financial devastation will ultimately be.