Relevant:
- The Next AIG-Style Meltdown Began 24 Hours Ago
- Glencore's $100 Billion 'Gorilla' Means Bad News for Banks
- Glencore May Expand to Rival BHP, Rio, Investor Rothschild Says
- As A Shocking $100 Billion In Glencore Debt Emerges, The Next Lehman Has Arrived
- Glencore CDS Are Soaring Again As Default Risk Rises Above 50%
2015-10-09 — investmentresearchdynamics.com
... the spike-up in reverse repos occurred at the same time -- September 16 -- that the stock market embarked on an 8-day cliff dive, with the S&P 500 falling 6% in that time period. Â You'll note that this is around the same time that a crash in Glencore stock and bonds began. Â It has been suggested by analysts that a default on Glencore credit derivatives either by Glencore or by financial entities using derivatives to bet against that event would be analogous to the "Lehman moment" that triggered the 2008 collapse.
The blame on the general stock market plunge was cast on the Fed's inability to raise interest rates. Â However that seems to be nothing more than a clever cover story for something much more catastrophic which began to develop out sight in the general liquidity functions of the global banking system.
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