“Black Monday” on Aug. 5 for the global stock markets may not have continued on Tuesday and Wednesday, but there is widespread recognition in financial circles that we haven’t heard the last of this. For example, The Economist ran an article on Aug. 2 with the headline “Why Fear Is Sweeping Markets Everywhere. American and Japanese Indices Have Taken a Battering. So Have Banks and Gold.”
And Sputnik’s Aug. 6 article “Is New Global Financial Crisis Round the Corner?” quotes Swiss precious metals expert and libertarian Mises Institute guru Claudio Grass as saying: “We can see clear trends, namely that the systematic risks in the current financial and monetary system are increasing and a 2008 scenario could repeat itself at any time. We are already witnessing a massive decimation of the middle class, particularly in the U.S. and Germany, over the last 18 months.”
