➡ The article discusses the potential for a systemic financial collapse, triggered by a U.S. debt default. This could lead to a lock-up of credit markets, a banking crisis, and a global financial contagion. The author suggests that this could result in a system reset, with a new digital currency system and a restructuring of sovereign debt. The author urges readers to prepare for such a scenario, emphasizing the importance of community and charity.

➡ The article discusses the potential for a significant drop in the debt market, leading to widespread defaults, particularly in corporate debt. The author suggests that despite the lack of mainstream media attention, these issues are becoming increasingly apparent. The author encourages readers to understand the core of the system and promises to continue sharing insights to keep them informed.

Prepare everybody. Here we go. It’s me, Gregory Mannarino, Sunday, May 11th, 2025. I apologize for getting this video out late. I was working on a whole bunch of things. I put together something else. I didn’t even get to send this out to you in my newsletter yet. I’m going to cover it here because we got something very interesting is going on here. And if you do already subscribe to my newsletter, again, 100% free, you read this already. We got a very interesting dynamic in play right now, and it’s exactly what I have been warning about. You and I, I and I, for a thousand years, the eventual meltdown of the entire global financial system.

Again, the debt market is a time bomb. Everybody knows it. But what most people are not aware of is this thing is so interconnected. It’s a web engulfing the entire earth that has the potential to swallow it. And all of this is based upon things like credit default swaps, derivative exposure. I mean, all of this is nuts. It reaches some kind of a level that seems almost supernatural, and I mean that. And maybe in some ways it is. What we have allowed to manifest is I can’t even get the words out here right now. The entire financial system, the way it’s structured, it’s a debt-based system that demands content, unrelenting, inflating of debt, currency devaluation, issuance of debt, which must be insured.

It all is. Even US debt. So let me put a perspective on all this for you. I hope you get something out of this. Some of this is complex. I am not going to lie. So I’m going to try to cover this slowly, methodically, and again, everything I put. This is already in your inbox right now. And right after this comes out, what I’m going to cover with you to better allow you guys and girls to understand what it actually means. I think we’re at a stage here in the current system that is being taken apart piece by piece, deliberately.

None of this is by accident. Understand, if we know what’s going on here, and you and I have been talking about this for a thousand years, if we know all this, you think they don’t know this, you think the Federal Reserve, central banks, the IMF, political leaders, world leaders, they don’t know this stuff, but we do? I mean, come on, man. They’re not naive to this. This is a deliberate takedown of the current system. It’s methodical and people, it’s diabolic to only issue in a new system of maximum control. Problem reaction solution is being set up right now.

You all know that. So I’m not even going to talk about the current market issues. We’ll do that tomorrow because this is so much bigger. And I really believe that because of what we’re seeing here with regard to credit default swaps and government debt, that we really need to start thinking along those lines that we may be very close to what you and I know is eventually going to happen, a debt default. The United States is already in a technical debt default. Think about it. Why am I saying this? Because without, in this case, the Federal Reserve or central banks around the world buying it all here, what do central banks do? They issue debt through one door and they buy it back through another.

They’re monetizing the system for their own benefit. That’s all it is so they can extort control out of all of us here. And they want us on our knees. And this is it. What I put here for you guys and girls, it’s kind of extensive here and I’m going to cover it at length with you. But I really want you guys to focus on this. And this is really important. And even if you get lost here as I’m covering some of this, stop the video. Go over it again. Listen to what I’m saying again. All this is going to be in your inbox.

This is already there. This will be in your inbox in a little while after I get this video out. I got a lot of work to do today for you. So let’s start people. Let’s start off with this. And this isn’t about fear. Don’t be afraid of any of this. It’s about raising your awareness. It’s about understanding where we are. Because again, this is no accident. No comedy of errors got us here. We’re on the same page. So Lions, a US debt default, we may be close. And here’s why. So this is Reuters. This was reported on the 9th here.

So New York, May 9th, Reuters, the cost of ensuring exposure to US government debt has climbed noticeably over the past month and remained stubbornly high. How many of you actually knew that government debt is insured? All debt is insured via these credit default swaps, these derivative instruments. Anyway, spreads on, this is Reuters. The truth is always out there. Spreads on US credit default swaps, CDS, market-based gauges of risk of sovereign debt default widened to their highest level since the debt ceiling crisis of 2023. This has been happening over recent weeks. And you know that. You and I have been talking about the debt market, looking at spreads.

We covered it here recently. You have to understand that the debt market is the key to the financial system. The whole system is based upon ever expanding debt. It can never contract. That’s the way it works. It’s the nature of the system. And that’s why. It’s so important for us to pay attention to these things. So what does all this mean that I just covered with you? Let’s cover this. When US sovereign credit default swaps, CDS, when the spreads widen like this, especially outside of a formal debt ceiling crisis, it can only mean one thing. A potential US debt default.

Now, what would be the fallout? I want to stop here for a moment, and I’m going to go back to the fallout because I outlined some of this. Now, this is the new paper that I just wrote up this morning. I’ve been working on it for about an hour and a half, maybe two hours, trying to get this together for you. And this is all full of typos, but I’m going to fix this up here for you guys and girls. So when you get it, it’ll be more clear. So just bear with me as I read through this.

So US debt credit default swaps. Again, how many of you actually knew this, that these exist? Then they exist massively. First, let’s just cover what a credit default swap is. Most of you actually know probably, but I’m going to cover this. First, a credit default swap or CDS is a financial contract. It’s insurance on debt. A buyer pays a premium to the seller, typically a bank, for protection against default or payment disruption. In this case, on US Treasuries. Let’s just focus on that. If the United States defaults or delays payment, the credit default swaps seller pays out to the insured party.

Now, who sells this insurance? Major global banks imagine our shock. And financial institutions write credit default swaps. Let’s name who these are. Who are the biggest players? Who are the biggest players right now in this government debt insured credit default swap nightmare? J.P. Morgan, imagine our shock. The largest bank on earth by assets. Goldman Sachs, Citigroup, Barclays, Deutsche Bank, BNP, Pravist is more. They take on the risk, collecting premiums as long as no default occurs. Why? US debt is supposed to be 100% safe, but it’s not, especially in this environment. If the US were to default, what happens to the banks holding these credit default swaps? Again, the J.P.

Morgan, the Goldman Sachs, Citigroup, the Barclays. Number one, I labeled this in numbers here. Credit default swap contracts trigger instantly. There’s no delay. A US credit default, even a technical, which we’re kind of in, we’re in one now, but again, this would activate credit default clauses in the contracts, in the CDS clauses. Banks that sold these credit default swaps, the insurers here, would owe massive payouts instantly. Number two, unrealized risk becomes real. The situation becomes real. Since it’s something that you and I have said for a thousand years, it will get real at one point. Many banks never expected to actually pay.

They don’t expect to ever have to pay out on US credit default swaps just to collect these premiums. Or they’re happy to collect these premiums, and who pays for it? Well, you do. I do as well here, and it’s added right to the national debt. But these paper liabilities now become a cash obligation forcing emergency capital injections or fire sale of assets. Number three, massive liquidity crunch. I’ve got to refine this a little bit. Massive liquidity crunch to cover payouts, banks with dump treasury stocks, and other high quality assets crashing the markets across the board. We already know this.

The whole thing plays in together. Interbank lending could freeze and would freeze overnight, just like in 2008, but much worse. Number four, counterparty contagion. If one bank, one, can’t pay credit default swap obligation, the loss ripples outward. Okay, this is all pretty much common sense, right? Counterparty collapse, derivatives implode, systemic contagion begins. Number five, emergency central bank intervention, only to issue in a new system. Defend in possibly foreign central banks, of course, would step in with unlimited liquidity, QE on steroids to prevent a total collapse, of course, but the system at that point would be in a total collapse.

And of course, they would offer a solution, a new system. This is why the system is being taken apart right now. This is why we’re being made the crypto capital of the world, why we’re not going back into a gold system, why President Trump and Elon Musk did not rush over to Fort Knox to see if the gold was really there, why we are not instituting the Gold Reserve Act of 1934 right here and right now, even though it’s clearly warranted. It’s all to bring about a new system. Number six, global derivatives time bomb goes off.

It’s exactly what you and I have been talking about for a thousand years. Many credit default swap contracts are interlinked with other derivatives. Again, the derivative market is probably the most least understood aspect of all this. What is a derivative? A derivative is nothing. A derivative is a so-called asset that derives value from something else, and there are layers and layers of derivative contracts on both sides, to the upside and to the downside. It’s a completely twisted market that is in the multiple quadrillions. U.S. default would shake the entire global derivatives market. Quadrillions in exposure, I wrote trillions by mistake here, in exposure suddenly becomes unstable.

The United States defaults, the credit default swap markets becomes a financial nuclear bomb, just as you and I have been saying, detonating first, first at the big banks who are holding these credit default swaps and then echoing through every corner of the global financial system. What would happen? Bam! We have a solution for you people. That’s where this is going and all of you know it. So I want to pick up on where we left off with this, and I hope so far, look man, this is already pretty profound stuff. If you want to stop the video here and come back later, that’s great.

If you want to re-go over that from the beginning, that would probably be a good idea. So let’s go on here. What does all this mean here? When U.S. sovereign credit default swaps widen like this again, the spreads that we’re seeing, especially outside of the formal debt crisis ceiling, like, oh my god, we have a debt ceiling crisis, whatever, it can only mean one thing, a potential U.S. debt default. Now, what would be the fallout? We covered some of this, but I’m going to say some of this again, so here we go. Number one, a lock-up of the credit markets.

Does that sound familiar to you? Because I’ve only been saying this again for a thousand years. This is something we have spoken about would eventually happen for years. It’s not happening yet, but the potential is rising. Lions, as you know, if you have followed my work, our work here, if you’ve been part of this pride, the flow of debt or credit, same thing, is the lifeblood of the entire financial system. If that flow stops, liquidity vanishes almost instantly, instantly. Banks stop lending, interbank markets seize, interbank lending markets seize, all of it. Overnight funding dries up. Number two, a fight, a banking crisis ripple effect.

We covered some of this. Interinvestment banks slash financial institutions with any, any market exposure would face massive margin calls, collateral evaluations, and obvious insolvency. They’re all insolvent now. All of these institutions operate in a perpetual black hole because that’s the nature of the beast. It’s the debt-based system, but you’re not supposed to know that now. Remember 2008? This would be magnitudes worse. Number three, global contagion. U.S. Treasuries are, more people don’t know this, but it should be pretty obvious. U.S. Treasuries are the global reserve asset. The dollar, also a unit of debt, is the reserve currency.

So one in the scene here, debt and more debt. That’s all this is. Currency, units of debt here. Treasuries, obvious debt here. But U.S. Treasuries are the global reserve asset. The dollar is not the global reserve asset. It is the reserve currency. Does that make sense to you? Let’s move forward. If the market begins doubting their safety or liquidity, and the liquidity is drying up massively, foreign central banks, nations, investors, etc., will unload. This is when we would see, what I’ve been telling you, what is eventually going to happen, people, massive spikes in bond yields. Again, as I’ve been warning about for years, you and I have spoken about this over and over.

Number four, stock markets melt down. Stocks will collapse. Bond yields will skyrocket. And the entire derivative market would implode. Period. There’s no other way around this, and I’m not being overdramatic here. You think I am? Tell me where I got this wrong. I mean, that’s what I always say. Number five, here’s the key. System reset. System reset becomes reality. This is it. Central bank digital currency, new tokenized system, followed by some kind of restructuring of sovereign debt in exchange for total control. Doesn’t sound about right to you. People know the truth when they hear it. Going out to my old friend Greg Hunter here.

It’s a fact. I believe, honestly, people, that this is exactly what’s going on. Well, first of all, it isn’t me. You have to understand with this, I see things, I don’t know, maybe I see things before some people do, because I follow this because I’m out of my mind and I guess I have nothing better to do. But this is Reuters, and Reuters, what Reuters published here about the spreads on these credit default swaps, I said, whoa, whoa, whoa, whoa, whoa, whoa, on government debt, insured credit default swaps. I was like, whoa, no, no, no, no, no, no.

There’s something else here. And this gets buried. You see, people see that. They don’t think about what it means. Oh, we’re going to default on the debt. But they don’t think about what the ripple effect would be. This is an event here that it’s going to happen. The debt market is going to implode. It’s a time bomb on a massive scale. It’s worse than a nuclear exchange because this is going to come down to a resource problem. Scarcity, we’re not going to have access to basic things to live here. It’s going to be pandemonium in the streets, no access to capital, no access to cash, no mode of transaction other than bartering.

You understand? This is what I’ve been telling people, love each other, care about each other, be charitable to each other. You understand? All of this should be clear to you now. At least I hope so on the back of this. Now, of course, you’re going to get, oh, Greg is a doomer, Greg is a gloomer. Really? Okay, tell me where I got this wrong. That’s the challenge to those of you who are going to say, oh, Greg is this and Greg is that. Where did I get it wrong? What’s wrong with seeing what others can’t see before anybody else does here? There are some that have been crying out in the wilderness since time began.

And generally, these people are proven to be correct. And you and I were way ahead of the pack on here. This pride of lions that we have, people were making a positive difference in the world. And I really believe that. And this is part of it. Again, this is in your inbox. This is not yet in your inbox. And I’m going to give you an opportunity right now. You want this stuff? People, it’s 100% free. Subscribe to my newsletter. There’s a link in the description of this video. I know with that said, if you got something out of this video or not, I want to hear from you.

If I’ve earned you a thumbs up as usual, I would appreciate that. Please share this stuff. Let’s see if we can punch a few holes through the Babylon system, because it’s coming apart and people. You think any of this is by accident? Do you really believe that? Just talk about central bankers. You think they don’t know this? You think they don’t see this? You think the heads of the largest banks on this planet, G.P. Morgan Goldman Sachs, just to name two, the Wall Street Superbanks of Superbanks. You think they don’t know this? They’re the ones holding, insuring US debt via these credit default swaps.

You think they don’t know? Do you really think that President Trump and his administration doesn’t know this either? Honestly? But meanwhile, what are we hearing? We need lower rates. We need a weaker dollar. Meanwhile, we’re being wiped out. It’s incredible. This can’t be sidestepped. No amount of lower rates is going to fix anything. No amount of currency purchasing power destruction is going to fix anything. It’s only going to foster it faster. You can see how the politicians and the central banks and the Wall Street institutions are working together. They’re all part of the same hypocrisy. And you and I, we’re looking from the outside in, but we’re also in it as well.

Like I always tell you, we may exist in Babylon, but we don’t have to be of it. Does that sound about right to you? And people, look, man, think about what this means for you. I outlined the fallout pretty extensively here. What would it mean if this actually happens? I’m going to say when, because I can promise you we’re going to see a massive sell-off in the debt market at one particular time. It’s being pumped and pumped and pumped. And there’s going to be a point where the markets just can’t handle this, and there is going to be defaults across the board.

We’re already seeing strains. We’re going to go to corporate debt here. Corporate debt defaults. This is not getting any real attention on the mainstream media, but look it up for yourself. These corporations are trying to roll over debt, their own debt. They’re having a very difficult time doing this. No one wants to own this stuff anymore. And even that has its associated credit default swaps along with it. Do you see the core of the system now? Are you able to peer into it? I hope so. Love all you guys. I will read the comments here. I want to hear from you on all this stuff.

We will. It’s being revealed to us people. And believe me, it’s not Greg Matarino. This is coming right from the source. And I’ve been blessed here to have this platform to have this responsibility to keep all of you in the know to the best of my ability. And believe me, I do not take that lightly. I’ll see you in the morning. [tr:trw].

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