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Each crisis is more dangerous than the one before, such as the ones in 1998 and 2008. Now, in 2022, we may reach a point where a crisis surpasses the FED's ability to control it. It's hard to predict the exact timing, but we are uncomfortably close. In 1998, a global liquidity crisis nearly shut down markets after a Russian default. Long-Term Capital Management had $1.4 trillion in derivatives at the time. Timing is difficult to predict, but the current situation is concerning.