Sovereign Debt Defaults in Emerging Markets About to Sweep the Globe

As reported by Bloomberg recently, a cascade of defaults is coming for emerging markets! This is because the dollar index has been getting so strong recently, (stronger than its been in years) — this is making it more difficult for emerging markets to get dollars.

If it's harder to get dollars, than that means it's more expensive, which means it is beginning to bankrupt some of these emerging markets. It's only a matter of time before this begins to spill over into developed markets.

Timecodes
0:00 Video Overview
0:39 Intro
0:46 Emerging Markets are Cascading Into Debt
2:41 Relative Value Trade affecting Interconnected Global Banks
6:47 Outro

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[bobbystark]

“…and rumors of wars…” I caught that. Very subtle, sir, and I agree with where you’re going on that.

[Curlygirly]

Thanks for explaining this in a way I can understand. I have limited knowledge about the financial system (especially compared to you) and this made perfect sense to me. I've been learning about it more and more lately and it's quite interesting. Also, sickening. So much suffering due to this system when we could all have everything we need.

[SolzhenitsynBoogie]

"There are decades where nothing happens; and there are weeks where decades happen"--Vladimir Ilyich Lenin.

[biglyredly]

Love the show but like the older intro more

[Rich-rdge]

What about a bank bail-in instead of a bank bail-out, what's the probability of that happening?

[TheMidwestbear]

Glad to see your channel growing! You deserve it.

[darkmattersolo]

Whatever goes up must come down? let this sink in

[julianwhitlow]

Would this be the same thing as when controlled too much physical gold?

[stephaniestella]

We are already in the big crash, Inflation is a catastrophe. This CPI report is a colossal failure. To bring the housing market to a halt, the FED will have to pull all the stops. The unfortunate issue is that other markets are being decimated.If you want to stay green, you have to rely on a lot of diversification. Currently up 14% and being careful. Still a better deal than leaving it in a savings or checking account yielding 0-1 percent interest.

[gloriathomas]

In the Caribbean where I come from many of the countries in the region are already defaulting on their sovereign debts and it didn't come as a surprise to me. Many of these countries were living outside their means and borrowing heavily from the IMF and World Bank now they have no means of paying their obligations.

[geoffxander]

In this fiat system debt is money, defaults wipe out debt, and we're staring at deflation. The Fed has maybe one good kick left for the can but things that cannot last won't. We'll probably have a massive stock drop first. This is going to be ugly.

[wisemanm]

FYI, India just internationalized their own currency completely bypassing the $$ while trading in Rupees/Ruble. Every country that imports will be forced to trade in Rupees. This is just the beginning before the dollar collapses. When you have 40% of the world population trading in their own currency (BRICS), Then that will be a problem.

[woodsmoke]

When banks fail, rather than a tax-payer funded government bailout ( again! ) could there not be a bail-in instead, where depositers' lose their cash deposits. '''Your'' money appears on their balance sheet ... - Not your money any more!

[kentma]

unified currency would solve many of these issues, if labor rate and currency all is one across the globe or countries, we don't have this kind of issues

[michaelearlgrey]

This is all outside of my pay grade but my gut feeling is that cash is still trash and this strong dollar won't last very long.

[organizedchaos]

The dollar chart looks like its completed the 3 peaks then the first floor and now it’s on its way to making the doomed house pattern

[randyjones]

I'm wondering if El Salvadore is considering issuing the Bitcoin "Volcano Bonds" to roll over their maturing debt? If part of the new debt is used to build miners, the income can be used to help cover the interest on the bond. They don't have to do it all at once, just issue the new bonds to pay off the old bonds as they mature.

[advocate]

Whenever a Joe video starts I check whether I'm on 1.25

[fillername]

now with this default they need money and US citizens need a second citizenship. I hope this leads to more affordable CBI programs around the world.

[gaylewilliams]

Perhaps the dollar milkshake theory is about to play out.