Video Update: A Lesson Not Learned

[Inside Wall Street with Nomi Prins]( Welcome to Inside Wall Street with Nomi Prins! It’s the only daily newsletter featuring the insights of renowned author and former Wall Street insider, Nomi Prins. Every day, Nomi shines a light on a massive wealth transfer she calls The Great Distortion. That’s the true cause of the permanent disconnect she sees between the markets and the real economy. And she shares ways you can come out ahead, if you know where the money is flowing. You’ll find all Nomi’s Inside Wall Street issues [here](. If you have questions or comments, send Nomi a note anytime [here]( or at feedback@rogueeconomics.com. Video Update: A Lesson Not Learned By Nomi Prins, Editor, Inside Wall Street with Nomi Prins Greetings from London! I’m over here in the United Kingdom for some meetings and research. I love this city. I spent a couple of happy years working here in the heart of the financial district. So during my trip, I wanted to visit as many of my “old haunts” as possible… including the area where I used to work. [image]( Nomi on a stroll down memory lane in London’s Canary Wharf financial district Of course, I’m here during a time of immense sorrow for the British people, with the death of Queen Elizabeth. But my trip also coincides with the anniversary of a key trigger event for one of the worst global financial crises we’ve ever seen. In a special video today, I revisit this pivotal moment in our economy’s history. And I look at how history is about to be repeated… [Click here]( – or on the image below – to watch my latest video update. It’s just over four minutes long. And as always, I’ve also included a transcript underneath. [image]( Let me know what you think at [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=RE: Video Update: A Lesson Not Learned). Happy investing, and I’ll be in touch again soon. Regards, [signature] Nomi Prins Editor, Inside Wall Street with Nomi Prins --------------------------------------------------------------- TRANSCRIPT Hi everyone. Nomi here. I’m coming to you from Canary Wharf in South London. This area is the modern heart of finance for the United Kingdom. And it’s one of the most important business districts in the world. When I was an investment banker here back in the 1990s, it was still in development. The only food on site was an old fruit lady with her own stand in a lunch spot in something called the Billingsgate Fish Market, where we would eat alongside fishmongers. So it’s always amazing to return to this area and see all of the change that’s taking place. And this place appears to be booming, even though we are in tough economic and challenging times right now. You see, the world has changed so much since I was a banker in London. I was a senior managing director at the then famed and now infamous Bear Stearns here in London. The United Kingdom headquarter offices were located at One Canada Square, in this building. I was on the 25th floor, near where I am right now. And that means I was basically on the ground floor. And I built from scratch one of the most admired analytical teams in London finance. The salesforce at the time – they were skeptical of this young American that had just shown up. But over time – and my beating them at Liar’s Poker for mega-sums of money – we became really close friends. I actually just saw several of them for dinner last night. But more than the actual location and the memories, there’s much we can learn from Bear Stearns and other firms like it. Recommended Link [The media is right about one thing – we are about to witness a huge economic crisis...]( [image]( We all know the mainstream media will say anything for more viewers and clicks... But folks who are distracted by this kind of propaganda are about to be left behind. [According to renowned economist Nomi Prins, we’re about to see a crisis…]( But not the kind of crisis most people expect. This is unlike anything we’ve ever seen before... [Click here to see Nomi’s newest prediction before it’s too late.]( -- Global Financial Tailspin You see, Bear Stearns wasn’t the only doomed bank casualty of the financial crisis of 2008. It went bust in March 2008. Parts of it were bought up by JPMorgan Chase in the aftermath. But it was one of a list of financial players stretching out for fast money, and greed-driven practices that ignored the risk entailed in them. Lehman Brothers also had its European headquarters in this area of Canary Wharf. Today, September 15, marks the 14th anniversary of its epic collapse, when it filed for bankruptcy. The move sent financial ripples throughout the entire world. The very next day, Barclays, which is also located in this area, moved to buy up Lehman’s U.S. operations. But the psychological damage and the stability of the markets that was wrecked… that had already happened. That move sent the world into a global financial tailspin, and then into an economic crisis of a kind not seen in generations. Governments unleashed epic bailouts of Wall Street and global banks. Central banks unloaded an arsenal of loose monetary policies in an effort to prevent a feared fallout of the entire global financial system. That was the first phase of The Great Distortion. You know that story. Unemployment skyrocketed. Bankruptcies snowballed. People were forced from their homes. And millions were pushed into poverty. The truth is that these banks got too complex with their trading. They were offering up products to investors, pension funds, and cities around the world. They promised them financial innovation and upside. The system buckled when every institution was just over-leveraged. Banks risked the well-being of the economy in order to make money. They failed. They got bailed out. Ignoring History Could Be Costly Central banks got massively more powerful in the process. The pandemic hit in 2020, and they printed money again. That is when The Great Distortion became a permanent one. Today, the world is yet again barreling towards a similar kind of situation. Here in the U.K., in the midst of an energy and cost of living crisis, Parliament is looking to remove yet more risk-buffers from the biggest financial players. For you, understanding the underlying value of companies, the real business operations, and the long-term vision should be the cornerstone of every long-term investment decision. And that is what me and my team are committed to doing for you. Happy investing, and I will talk to you soon. --------------------------------------------------------------- Like what you’re reading? Send your thoughts to [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=RE: Inside Wall Street Feedback). --------------------------------------------------------------- IN CASE YOU MISSED IT… Market Wizard who predicted all indexes would be negative in 2022 shares shocking new forecast: [“Prepare for Five Years of Famine”]( [Click here for the name of the one ticker you need to protect yourself.]( [image]( Get Instant Access Click to read these free reports and automatically sign up for daily research. [The 101 Guide to Pre-IPO Investing]( [An Insider's Guide to Making a Fortune from Small Tech Stocks]( [The Trader’s Guide to Technical Analysis]( [Rogue Economincs]( Rogue Economics 55 NE 5th Avenue, Delray Beach, FL 33483 [www.rogueeconomics.com]( [Tweet]( [TWITTER]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. 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