Monday, January 19, 2015

Former White House Official – Europe In Danger Of Mega-Bank Runs That Jeopardize The World

a former White House official and Plunge Protection Team member warned King World News that Europe is now in danger of mega-bank runs that will destabilize the entire global financial system.  Former presidential adviser and member of the U.S. President's Working Group on Financial Markets, Dr. Philippa Malmgren, also discussed why the bank runs may spread across the Atlantic to the United States, eventually engulfing the entire world in chaos.
Eric King:  “It now appears at this point that the multiple bank runs in Europe have the ability to spread and create massive contagion.”
Dr. Philippa Malmgren:  “We have seen Banco Santander, which is considered the most important of the continental banks in Europe, recently announce without any warning that they didn't have enough cash and they had to do a very sudden and abrupt cash call of almost $8 billion just to stay alive….
Continue reading the Dr. Philippa Malmgren interview below…

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