Have your golden armor ready, because as Lynette explains, big changes are coming with new interest rate benchmarks. Here are the details…
As the derivative triggered financial crisis unfolded, in 2008 all IBORs failed as market liquidity evaporated and banks stopped lending to each other.
In addition, global governments and central bankers now knew that banks, unwilling to assume that risk, would stop providing the markets which this benchmark rate during the next crisis, jeopardizing the valuations of over $300 trillion in fiat market contracts.
This is why new interest rate benchmarks are required. There is no choice.
This is why it’s so important to have a plan. Those in the know do, they buy physical gold. That’s part of my plan too.