John Rubino - Volatility Rising #4521

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Manage episode 244087338 series 1401217
By Kerry Lutz. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.
Houston we have a problem. Chinese and Hong Kong banks are running out of dollars. But I thought we had too many of them floating around the world. Guess not. There's plenty more where they came from. It's just another example of the glue that holds together the world financial system coming apart at the seams. First it was the staid repo market. Now it's foreign banks running out of the reserve currency. As Martin Armstrong often explains, 70% of the 100 dollar bills in circulation are held overseas. So much for the immediate demise of the reserve currency. Special shout-out to my son-in-law's father, John Kirby, who passed on last week. A prince among men and one of those important people you've never heard of.

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