You know what would be scary? Imagine a secret, global banking system — largely untouched by regulation, obsessed with finding outsized returns on investments, creating massive risk to the world’s finances – and controlling assets worth more than the combined annual output of the world’s top 20 economies.
That would be frightening, wouldn’t it?
Well. It exists. It’s huge ($67 trillion) … and it’s growing.
And you really should read something about it while you can. Because by tomorrow the whole world will go back to whistling in the dark and pretending there’s no such thing as “shadow banking.”Related