How to grow your wealth during the coming collapse?

166 THE BiG DROP existence thanks to my parents. Suddenly things weren’t so comfortable. I made a vow to myself that I was going ...

THE BEST WAY TO UNDERSTAND THE GLOBAL FINANCIAL SYSTEM 167 stocks on my own, but compared to these geniuses, what do I know?” So ...

168 THE BiG DROP gets it back in the air at the last second. We were just hours away from closing every financial market in the ...

THE BEST WAY TO UNDERSTAND THE GLOBAL FINANCIAL SYSTEM 169 After the collapse and rescue, I chatted with one of the LTCM partner ...

170 THE BiG DROP way to understand and manage risk and to foresee market collapses. I began to lecture and write on the topic in ...

THE BEST WAY TO UNDERSTAND THE GLOBAL FINANCIAL SYSTEM 171 kets experts themselves. They had spent their careers learning theore ...

172 THE BiG DROP more closely resembles that 1997–1998 crisis than it does the one in 2007–2008. Let’s skip over the dotcom bubb ...

THE BEST WAY TO UNDERSTAND THE GLOBAL FINANCIAL SYSTEM 173 might actually take a year. But a year is not that long a period of t ...

174 THE BiG DROP the region that had their currency pegged to the dollar, with some attractive investment opportunities but that ...

THE BEST WAY TO UNDERSTAND THE GLOBAL FINANCIAL SYSTEM 175 $1 trillion of swaps that we had with the rest of Wall Street. Russia ...

176 THE BiG DROP September of 2008. There I was in September 2007, a year earlier in Tokyo, and the Tokyo stock market was going ...

THE BEST WAY TO UNDERSTAND THE GLOBAL FINANCIAL SYSTEM 177 long and the short — would converge. Well, they didn’t con- verge; th ...

178 THE BiG DROP bility in setting policy. The dual mandate allows the Fed to manage the U.S. jobs market and, by extension, the ...

THE BEST WAY TO UNDERSTAND THE GLOBAL FINANCIAL SYSTEM 179 rate promise even though they intuitively understand that if things g ...

180 THE BiG DROP The Fed is now insolvent. By buying highly volatile long-term Treasury notes instead of safe short-term treasu ...

THE BEST WAY TO UNDERSTAND THE GLOBAL FINANCIAL SYSTEM 181 ■ Self-Organized Criticality Let’s say I’ve got a thirty-five pound b ...

182 THE BiG DROP Federal Reserve. They’re not dopes. A lot of people like to ridi- cule them and say they’re idiots. They’re not ...

THE BEST WAY TO UNDERSTAND THE GLOBAL FINANCIAL SYSTEM 183 that is to watch them because it’s a good guide to policy. My own vie ...

184 THE BiG DROP stroy a city. However, most neutrons do not start nuclear chain reactions just as most snowflakes do not start ...

THE BEST WAY TO UNDERSTAND THE GLOBAL FINANCIAL SYSTEM 185 value. They want to get out of dollars and into other things. That’s ...