'It'll wipe out every dollar in the world' - new crash fears as $80trillion 'goes missing'

The Slippery Slope · Dec 8, 2022 · 7m · transcript

'It'll wipe out every dollar in the world' - new crash fears as $80trillion 'goes missing'

This warning does not come from some headline-grabbing doomsayer but arguably the most respectable financial body of all, the Bank of International Settlements (BIS). This is a body of central bankers based in Basle, Switzerland.

The threat is lurking in the foreign exchange debt swap market, which is so complex few understand it and there is little control over its workings.

Reuters reports that pension funds and other "non-bank" financial firms have more than $80trillion of hidden, off-balance sheet…