BUY THIS BOOK By Bob Lyddon
Bob Lyddon's book is one of the most important to be published in 2023. In terms of financial stability it is the most important. In an accessible way, even for the non financier, he sets out a damming indictments of the way Euro Zone members are playing with International rules to hide their weaknesses.
The Euro Zone are failing to adequately account for their liabilities, undermining Eurostat's 'General government gross debt' as a reliable figure. Both Shadow debts and unrecognised Contingent liabilities are shockingly under reported or simply ignored. The EU's 'General government gross debt' is understated by 44% if one takes account of the shadow debts, and by 70% if one factors in the contingent liabilities as well.
The EU's plan to onshore the clearing of Euro derivatives contracts poses a threat to all who trade or hold Euros. Clearly they lack the collateral quality required.
The Euro Zone's breaking of the international Financial Order poses a risk to the worlds financial stability. Monetary authorities in other jurisdictions cannot take the necessary precautions to protect their own financial institutions. It is impossible because Eurostats figures are totally unreliable.
If you can only read one book this year, please make it this one. It is vitally important that awareness is spread and action taken before others suffer financial harm.