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<\/a><\/strong>By Greg Hunter\u2019s\u00a0USAWatchdog.com<\/a><\/p>\nAccording to precious metals and financial expert Bix Weir, when the FTX cryptocurrency exchange imploded, it took with it billions of dollars of investments.\u00a0 It now has more than a million creditors both big and small.\u00a0 Weir says it is the tip of the iceberg in a dying over-indebted system.\u00a0 Weir contends it is orders of magnitude worse than the Lehman Brothers meltdown that caused the Great Recession in 2008.\u00a0<\/span>Weir explains, \u201cDoes it really matter if we control the House or the Senate or the Presidency?\u00a0 The only thing that will matter, the only thing that will change what is going on is when the ATMs shut off and, all of a sudden, people cannot get money out of the bank.\u00a0 That would change things really fast.\u00a0 I think it will happen.\u00a0 All we need is one highly connected derivative bank to go down, and they all go down.\u00a0 They can bail out a trillion-dollar bank, but they cannot bail out a $2 quadrillion failure, and that is what is coming.\u00a0 The moment that hits is when everybody will say, okay, nobody is getting paid off. . . .We are going to find out in about a month how many counterparties in the FTX debacle will be translated into the derivatives, which is probably 100 times bigger than what happened on FTX.\u00a0 Every one of those people on the FTX ledger was placing derivative bets that were hedging their crypto position.\u00a0 Now, their crypto positions have disappeared.\u00a0 The actual cryptos are no longer there . . .that is what was hedging this transaction.\u00a0 There are two sides to a derivative trade.\u00a0 If one side loses, they double lose.\u00a0 So, we could see a massive, massive fallout from the derivative mess.\u201d<\/p>\n Weir also points out, \u201cThe insanity is we all believe in unbacked fiat money.\u00a0 That system is dying, and that\u2019s why they are desperate to go to something else. . . . They know the end of this system is going to be painful.\u00a0 That\u2019s why they keep kicking the can down the road.\u00a0 Nobody really pretends it\u2019s going to work out.\u00a0 You don\u2019t hear the government saying we are going to pay off the debt. . . . Nobody talks about that anymore.\u00a0 They talk more about what will we do next. . . .Let\u2019s invent a new kind of currency.\u00a0 That\u2019s what they are talking about now because everybody has known since day one that this system will end.\u201d<\/p>\n Well known politicians, sports stars and big-financial institutions were all involved with FTX.\u00a0 \u00a0Charges are flying that FTX was a money laundering operation, a fraud and a huge public rip-off.\u00a0 This is a symptom of what comes at the end of a financial system. \u00a0What does the end look like?\u00a0 Weir says, \u201cIt might be we have many currencies being used with the collapse of the system. . . .Our government is completely corrupt.\u00a0 When they find out all the bad things your politicians have done to your country, to humanity and to children, good night.\u00a0 There is going to be chaos in the streets.\u00a0 Then what do you have that will work in a barter type situation until we all figure this out.\u00a0 I think that is where we are going.\u00a0 Right now, it\u2019s going to be painful.\u00a0 December will be really painful, and in January and February, who knows what will be with the change in government\u2013if there is one.\u201d<\/p>\n Weir says gold, and especially silver, are extremely undervalued.\u00a0 He says physical supplies of both metals are disappearing.\u00a0 Weir says both metals will be going way up in value in the not-so-distant future.<\/p>\n There is much more in the 34-min. interview.<\/p>\n Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Bix Weir of\u00a0RoadtoRoota.com<\/a>\u00a0for 11\/15\/22.<\/p>\n