BoE warns banks of risk of sharp global interest rate rise - Yahoo! Finance
The Bank of England warned banks and borrowers on Wednesday about risks from a potential abrupt rise in global interest rates, and said banks might need to further bolster their capital cushions to protect against this.
The past week has seen a sharp rise in global bond yields since U.S. Federal Reserve Chairman Ben Bernanke said that the U.S. central bank may scale back bond purchases later this year.
BoE Governor Mervyn King said on
Tuesday that markets had "jumped the gun" in their sharp reaction to
Bernanke's comments, but the BoE's half-yearly Financial Stability
Report said more bond yield rises could hurt UK banks, insurers and borrowers.
Bottom line folks the end is closely approaching, do not sell your Gold or Silver holdings, my gut feeling is something wicked this way comes. Sharp interest rate hikes makes our US debt unserviceable how are these debts going to be paid? they are not going to be paid, this is a Global phenomenon and when the ship sinks it all goes. Exciting times we live in for sure.
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