BlogThe chief of their emerging markets desk at Templeton Asset Management that manages $50 billion says: There is definitely going to be another financial crisis around the corner because we haven't solved any of the things that caused the previous crisis.

Exactly! No one hands Mark Mobius at Templeton $50 billion for being a dunderhead!

From Tuesday's Agora Financial 5 Minute Forecast: Speaking in Tokyo, he pointed to derivatives — the financial hairball of futures, options, and swaps in which nearly all the world's major banks are tangled up.

Estimates on the amount of derivatives out there worldwide vary. An oft-heard estimate is $600 trillion. That squares with Mobius' guess of 10 times the world's annual GDP. Are the derivatives regulated? asks Mobius. No. Are you still getting growth in derivatives? Yes.

In other words, something along the lines of securitized mortgages is lurking out there, ready to trigger another crisis as in 2007-08.

Makes me want to count my stack of gold coins! How about you? This news screams: Buy gold! Here's more evidence of the crisis flag a-flyin':

From the article in MoneyNews also from Tuesday entitled Meltdown Risks Are Enormous, the following:

The United States has still not addressed the problem of dealing with financial institutions deemed too-big-to-fail, leaving the country at risk to another meltdown like in 2008 or worse, say Gretchen Morgenson and Joshua Rosner, co-authors of the book Reckless Endangerment.


We have more too-big-to-fail institutions, more politically inter-connected, very deep and wide institutions that could create another system event like we had, says Morgenson, a New York Times journalist.

We have not solved that problem, so it's almost as though the situation that brought us to Fannie Mae and Freddie Mac having to be bailed out has now been squared or quadrupled, so it has really become worse, not better.

Hmmm. Strong words. Strong medicine you ask? Safe haven gold. Today's gold news is something you should immerse yourself into. Become a student of financial crises, and call us today at Lear Capital.