Episode 92: GoldMoney’s Andy Duncan talks to Gordon Kerr of Cobden Partners, a financial engineer and specialist in debt capital markets. They talk about Mr Kerr’s pivotal role in the leveraging of British and European banks prior to the crash of 2008, before moving on to discuss the Basel initiatives, designed by various global regulators to try to prevent systemic failures in the financial system. They discuss why these measures are ineffective. Gordon Kerr describes his view of the current financial situation, particularly of British and European banks, and how he sees banking and accounting regulations developing over the next few years.
The article which describes how Mr Kerr and his team leveraged the British and then European banking systems is at this link.
This podcast was recorded on 21 January 2013 and previously published at GoldMoney.com.
Basel, Basel II (and on and on) – world “governance” in action, and it does not work.
Of course we could go back to money lenders lending out REAL SAVINGS……
No (too crude) let us stick with the clever magic pixie dust and Moonbeams – that is going to work out really well.
As the next couple of years (starting later THIS year) will show.
Fantastic interview, albeit the message is dire. Not often we hear from an insider. We are headed for the rocks.