Jacob Rothschild has voiced concern about the global financial system that was established after WWII. The Billionaire Central Banker points to the US-China trade war and Euro zone crisis as the key problems putting economic order at risk.
In economics, the post-war order is usually refers to a monetary management system which led to a rise of the US dollar as a dominant currency.
Rothschild’s RIT Capital investment has a historically low 47% exposure to the stock market. Rothschild pointed at “potentially destructive” debt levels in Europe and trade wars as major problems for the global economy.
According to Rothschild, the lack of a co-ordinated, international response to global challenges was unlikely in an era of populist and protectionist leaders such as Russian president Vladimir Putin and US president Donald Trump.
On the other hand, Switzerland’s financial regulator has accused Rothschild Bank AG and its trust subsidiary of violating anti-money laundering law in relation to 1MDB, the troubled Malaysian sovereign wealth fund.
Both Rothschild Bank AG and Rothschild Trust AG failed to check where assets from a client came from. The firms reportedly disregarded signs that the funds could be connected to money-laundering and took the money anyway. The companies run by the Rothschild family are also accused of reporting on the issue too late.
RT.com / ABC Flash Point Banking News 2018.