Socio-Economics History Blog

Socio-Economics & History Commentary

Jim Willie: Systemic Breakdown & Economic Collapse GUARANTEED (Part 1)!

  • Jim Willie: Systemic Breakdown & Economic Collapse GUARANTEED! 
    by http://www.silverdoctors.com/
    In this stunning and MUST WATCH interview with Finance & Liberty’s Elijah Johnson, Hat Trick Letter Editor Jim Willie releases a shocking and emphatic prediction as he GUARANTEES a systemic breakdown and complete economic collapse!
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    Willie addresses the latest take-down, whether the Fed has really ended QE, and whether China is now controlling the strings at the Federal Reserve. Jim Willie GUARANTEES complete economic collapse!

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November 5, 2014 Posted by | Economics | , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Silver Analyst Who Predicted Silver’s Crash to $15 Three Years Ago Says Massive Rally Coming!

Silver_rocket

  • Silver Analyst Who Predicted Silver’s Crash to $15 Three Years Ago Says Massive Rally Coming! 
    by http://www.silverdoctors.com/ 
    Summary
    Nearly 3 years ago, with silver trading near $40/oz and gold near all-time nominal highs, SD gold & silver analyst Marshall Swing shocked the PM community by warning that silver would crash to $15/oz, then rocket past $1,000/oz as fiat collapses!
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    Fast forward to Oct 31st, 2014, and silver has indeed crashed to a $15 handle.
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    Does the ONLY precious metals analyst who forecast silver’s crash from $50 to $15 still believe a silver moon-shot past $1,000/oz is coming along with a full-fledged fiat currency collapse? Take heart silver investors.  The one analyst who saw this coming remains as bullish as ever:
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    Marshall Swing first warned SD readers in March of 2012 that silver could be headed to $15/oz: 
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    Silver to Crash to $15, Then Physical to Rocket Past $1,000 + as Fiat Collapses
    It’s about time for me to write my piece on $15 silver and $500 gold, I think. It seems quite some people get into the market not having the strength to withstand the volatility even though what drew them in was the logic behind the PM story and its validity in time of hyperinflation as a store of wealth.
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    When silver is $500-$1000 those who sold at $26 will be sorry because they will have nothing in the end after the crash… It does not matter what happens with the world’s economy, like some are talking, (such as Faber), about commodities crashing with the slowdown in the global economy.  When the wealth of the world rushes into gold and silver when there is nothing left it will not matter that PM wealth might have devalued 50-75% in the crash.
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    Fake wealth will stay down while real PM wealth will soar. If silver is $15 at the bottom and $1000 at the top then that is 6,700% just based on today’s math. 
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    But if there is the great deflation that I theorize, then what was $1000 goes to nothing so what becomes $1000 is actually many, many multiples of that $1000 as compared to those who have nothing.
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    That is multiplying 1000 times not just 67 times in respect to those who have nothing and the coming revaluation of the world wealth in terms of an asset backed trade system of currency (SDR).
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    So $15 silver ounce at the bottom is really $15,000 in terms of relative wealth, if my logic is correct. Catch my drift?
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    read more!

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November 3, 2014 Posted by | Economics | , , , , , , , , , , , | Leave a comment

Ted Butler: The Silver Nightmare Will Be Over Soon?! The Argument for a Near-Term Monster Rally!

  • Ted Butler: The Silver Nightmare Will Be Over Soon?! 
    by Adam Taggart, http://www.peakprosperity.com/ 
    The argument for a near-term monster rally  
    Halloween couldn’t have been more terrifying for silver investors. The gray metal cracked under $16/oz on Friday, a price not seen for nearly half a decade. For years now, it has seemed like silver has been beaten down so badly its price couldn’t go lower. But then it has.
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    Why has silver seen such a gut-wrenching price decline? (now down 2/3 compared to its high in late 2011). And will it ever see brighter days again?
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    This weekend, Chris has a long discussion with silver expert Ted Butler on the real culprit behind the wild price slams that have plagued silver: unfairly concentrated positions within the derivatives market:
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    You have to sit back and try and drill down to the cause of what’s going on. Now, the actions by the Bank of Japan and the actions of our own Central Bank have basically been to inflate all investment assets such as bonds, stocks, real estate. And the ironic thing is that in the past whenever we’ve gone through this asset inflation mode ,gold and silver and a variety of commodities have always participated. It stands out this time that, contrary to the movement and all other assets, that gold and silver have been particularly weak.
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    The only explanation for why this is so is that we’ve developed, not just in gold and silver but in all the COMEX and NYMEX metals — copper, platinum, palladium, gold and silver, even items like crude oil and even into the grains — we’ve developed a mechanism that’s so distorted it’s like we’re allowing the inmates to run the asylum. In other words, if you’re looking for the specific cause for why gold and silver have been particularly weak over the last couple of days or any other time period, you can trace it directly to the derivatives market. Specifically the COMEX. There’s such a large volume and it’s not just trading volume, it’s positioning. The positioning is so extreme in these markets and at such a large scale that it actually becomes the tail that wags the dog.
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    We should remember that derivatives (which futures contracts on gold and silver traded on the COMEX are classified as) are supposed to be derived from the real supply/demand fundamentals of any commodity. And that’s supposed to kind of follow what developments there are in the real world of supply and demand. That’s been distorted. That’s not longer the case.
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    read more!

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November 3, 2014 Posted by | Economics | , , , , , , , , , | Leave a comment

No Ebola Quarantine, Greenspan Says Buy Gold, Obama Care Update!

  • No Ebola Quarantine, Greenspan says Buy Gold, Obama Care Update! 
    by Greg Hunter’s USAWatchdog.com 
    The Ebola circus continues, and the Obama Administration officials look like clowns.  Let’s just take a look at a few of the headlines.  “Health System Not Prepared for Ebola” is a headline from the AP, and that is in stark contrast to what we have been told.  “Small clusters could overwhelm the system” is what the article says.  So, this begs the question of why no quarantine?  Some governors in places like New Jersey, New York and Illinois think quarantine is the way to go.  It is scientific technique on how to contain infectious disease, but that is not what the Obama Administration thinks.  Some in the MSM think the same thing.  This opinion piece says the decision by these governors is “hasty” and “adds to the Ebola problem.”  Really?  Well, that is not what the Pentagon thinks because it is “isolating troops back from Africa for 21 days.”  Some of the talking points are downright bogus.   They say things like we should treat these returning health care workers like “conquering heroes.”  Who is going to think these folks are “heroes” if they come back and infect people?  Africa’s best chance of beating this is if America stays strong and uninfected.  If America is consumed by Ebola, or even the fear of Ebola, West Africa hasn’t got a chance.
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    The Federal Reserve supposedly ended its QE program this week.  That is where they printed money to buy bonds to hold interest rates down.  So, what’s going to hold interest rates down now?  Are they just going to put all this Federal debt out for bids and let the market set the interest rates?  Can the Federal government, home buyers, car buyers, credit card holders and the overall economy afford higher rates?  You’ve got to be kidding.  Gregory Mannarino of TradersChoice.net says the Fed can’t just say it wants low interest rates.  It has to do something to keep them low.  Mannarino thinks the Fed is now going to force the big banks that got all this QE to buy Treasury and other government debt.  Mannarino told me that he thinks the Fed is going to continue to print money to finance another form of QE.  He says the money printing has not ended and will never end.  The Fed is just going to call it something else.  The Fed also says the economy and employment have improved, and the third quarter had a 3.5% growth rate.  John Williams of ShadowStats.com says the 3.5% growth rate is “Happy election eve numbers” and says it was boosted by “guessed at trade numbers and defense spending.”  Williams says look for a downside revision.  If the economy was really that good, would we have nearly 93 million people not in the workforce?  There are 46 million people on food stamps, and half of Americans make less than $28,000 a year.  Would mortgage applications be hitting 19 year lows?  Would former Fed Head Alan Greenspan be warning about “turmoil” in the economy because of ending QE?  Oh, and “Maestro” Greenspan is also telling people to buy gold?  Let that sink in, Greenspan is telling people to buy gold!!
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    read more!

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November 1, 2014 Posted by | Economics, GeoPolitics, Medicine & Health | , , , , , , , , , , , , , , , , , , , | Leave a comment

Egon von Greyerz: Disorderly Reset Coming! Dollar Goes to Zero!

  • Egon von Greyerz: Disorderly Reset Coming! Dollar Goes to Zero! 
    by Greg Hunter’s USAWatchdog.com
    Wealth preservation expert Egon von Greyerz is not bullish on the U.S. dollar.  Greyerz explains, “More and more countries are trying to go away from the dollar, and I think the days of the dollar are counted.  I think the dollar is going to start falling rapidly in coming months and years.  Of course, it already has fallen dramatically in the last few decades, but that will now accelerate.  It will go down to its intrinsic value which is zero, which most currencies do over their lifetime.  Of course, we have the movements in Russia and China with alternative currencies for commodities like oil, etc.  There will be a very disorderly reset with currencies falling.  They can’t all fall at the same time, but they will fall dramatically, and gold will, of course, reflect that.  The stock markets are in a bubble, and they will also fall.  I think the secular bull market we have seen is finished.  Now, we are going to see a very long bear market.  Of course, the biggest bubble of them all, where governments do all they can to keep the bubble going, is the bond market.  We have more debt than ever and interest rates at zero.  That just doesn’t add up.”  Greyerz goes on to say, “You can’t have governments borrow more than ever and have interest rates at zero.  You can only do that temporarily because you have governments printing money and artificially holding interest rates down.  That will not last either.  So, the reset will be dramatic.  It won’t happen overnight, but there will be events that trigger short term pitfalls, but this is a long term thing.”
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    Greyerz also predicts, “There will be one event after another, and instead of all the good news we have seen . . . now, we will see just bad news coming out.  Sadly, we are just at the end of a major era.”
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    Greyerz is predicting the end of the U.S. dollar era, and you don’t need a total abandonment for the dollar to crash globally.  Greyerz says, “In any market, you don’t need big sellers to change the price dramatically.  It is always the marginal buying and selling that can make a dramatic difference. . . . If there are sellers and no buyers, that market will collapse.”
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    read more!

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October 30, 2014 Posted by | Economics | , , , , , , , , , , , , , , , , , , | Leave a comment

Andy Hoffman: Global Economy Has Collapsed !

  • Andy Hoffman: Global Economy Has Collapsed ! 
    by Greg Hunter’s USAWatchdog.com
    Financial analyst Andy Hoffman says the real global economy is in deep trouble, which is much to the chagrin of the Fed. Hoffman explains, “Recall last April, they started smashing gold and started with the ‘taper’ talk. The Fed figured by about this time, they’d be ready to start hiking rates. The fact is the global economy has collapsed. Our real economy has collapsed. Forget the fake PMI numbers or their ridiculous employment numbers. The economy of the world is getting worse and worse and worse.  No matter how hard they try to say yes, there is a recovery and we are tapering. Interest rates keep falling and falling. There are plunging rates despite all their talk of recovery and tapering.” Hoffman, who also has deep Wall Street experience, points to the recent sell-off in the stock market and the Fed’s reaction. Hoffman contends, “The Dow Jones propaganda average fell a whopping 9% from its all-time highs. The Fed absolutely freaked out. Within minutes, they had the Plunge Protection Team (PPT) running it back up, and no less than six Fed Governors in the space of three days came out and called for extension of QE and extension of zero-percent-interest-rates (ZERP). That’s how terrified they are, and remember, next week is when QE is supposed to end.”

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    Why is the Fed so terrified with even a relatively small market drop from all-time highs? Hoffman thinks, “Their fear is a loss of confidence in the dollar. It’s that simple. . . . Since 2008, all they have left in their arsenal is money printing, market manipulation and propaganda. The propaganda doesn’t work anymore. Nobody believes in recovery, and everyone knows it’s not true.” Hoffman also points out, “Just think about the perception if the Dow fell a thousand points in a day or, let alone, three or four thousand points in a day. They would call it the crash of 1929. Look at Europe. Twenty-five European banks failed the stress test. . . . The banking system, as a whole, is on the precipice right now, and the slightest drop will cause the whole 2008 calamity to start all over again. . . . Once that confidence leaves, everyone races out of currencies, and the stock market and the whole economy mirage collapses.”
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    read more!

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October 28, 2014 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , | Leave a comment

Illuminati Gold Bars Stamped with All-Seeing Eye and Adam Weishaupt’s Picture!

The Satanic capstone, the Anti-Christ, on your dollar bill !

The Satanic capstone, the Anti-Christ, on your dollar bill !

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October 27, 2014 Posted by | GeoPolitics, Social Trends | , , , , , , , | Leave a comment

Jim Willie: “We’re in the End Game Now”!!

  • Published on Oct 24, 2014
    Perpetual Assets interviews Jim Willie of http://goldenjackass.com/ 

    Join our hour plus discussion about toxic versus honest infrastructure. Jim rattles off a list of current news headlines that set the stage for our current world. We discuss at length many topics in Jim’s recent article, QE Failure & Folly of Paper Mache. The US is heading fast towards complete global isolationism. The SDR is an unlikely solution to the collapsing petro dollar. Jim believes the BRICS currency/ metals fund will be the final winner.
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    Derivatives have been hidden in plain site. Jim believes there are potentially 100s of Billions of dollars a month in derivative monetization, going on for years now. US debt ceiling raise indicates a default, potentially with the involvement of China, which now owns a nice chunk of Manhattan, including a steak in the US Federal Reserve.
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    From US Treasury prop ups, QE, Interest rate swaps, to the bond carry trade, Jim covers a host of topics of manipulation. Jim breaks down exactly how long term treasury demand is created and free money just scraped off the back end. Not only can they scam the populace with false perceived demand but they also make huge risk free profits.
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    Student loans and car loans are the new sub prime markets. The Saudi Real has plummeted. Things are getting shaky. We are marching towards systemic failure. It won’t be a bank failure. The bank system cannot fail. Contagion has been prevented from massive cash injection. Sovereign debt seniority laws were literally changed. The level of fraud is overwhelming. Tens if not hundreds of trillions of dollars have been squandered.
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    Gold is the nemesis. It can only sustain so much paper mache. There is a breaking point. Eventually physical metal breaks the game. Once the Western gold is drained China can pull the plug. Enter the Shanghai gold exchange. The end game is near and it all pertains to physical gold (& silver). The jig is up, but nobody wants to be the fall guy. China could double the gold price and collapse the US without an obvious intervention- like forcing a few US banks into insolvency and causing contagion.
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    The Saudis are engaged in a price war with respect to their fellow OPEC members. What does Saudi Arabia stand to benefit by lowering its oil price? Jim breaks down multiple potential scenarios. Is it to do China’s bidding? Was it to render harm to Russia? Or support the USD with a short term lift? Perhaps they’re just pissed from their gold being stolen. Perhaps to break up the OPEC cartel and abandon the petro dollar without being the fall guy?
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    Wanting a legitimate monetary system over fraud and war is not unpatriotic. It is what our country was founded upon. “We are a raped and pillaged nation exploited and colonized with hidden control strings and deep cables. The only way to get out of it is to go back to a gold standard.” Russia and the East are working on energy pipelines, while we in the west are working on pipelines of toxic money, fiat paper, and liquidity networks. We choose honesty over war.

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October 25, 2014 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Jim Willie: Shanghai Shock to Shatter the Gold Market!

Gold tsunami wave is coming!

Gold tsunami wave is coming!

  • Jim Willie: Shanghai Shock to Shatter the Gold Market! 
    by Jim WillieGoldenJackass.com, via http://www.silverdoctors.com
    Summary
    The pattern of central bank covering the debt is clear. The lesson is that central banks can apply paper patches to the failed banks, and buy more time, then repeat the process on the next failed bank event. No limit to their bank patches seems to be in force.   The banker cabal can continue endlessly since their patches are based on paper solutions, fiat paper money spew, and they control the paper output. They are the masters of the House of Paper.
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    The paper mache solutions can continue in a seemingly endless manner, but not in the Gold market. The intervention and suppression in the Gold market is finite.   It requires Gold bullion, the physical ingot bars, in order to execute the perpetuated interference and alteration to this financial niche market.
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    The manipulation is finite, and it is coming to an end.
    When the Shanghai shock comes, all the Paper Gold structures will fall, all the FOREX derivatives will collapse, all the control rooms will go into panic mode.
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    By Jim WillieGoldenJackass.com 
    The Quantitative Easing initiatives have been declared as stimulus and successful in sustaining the US financial system. While having been able to continue the debt floats, the many market props, providing coverage for USGovt debt securities and mortgage backed securities which nobody wants, the initiative is hardly stimulus.
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    The hyper monetary inflation does what we always learned it did, as in from school for 50 years, dole out its powerful corrosive effect.   The inflation lifts the cost structure, leads to elimination of profit margins, and forces businesses to shut down, thus taking equipment out of service.  The Jackass prefers to call the QE effect as killing capital, forcing retired capital, putting equipment on mothballs, often liquidated.   Neither the USFed nor the Wall Street partners ever refer to the capital destruction effect, because it contradicts their stimulus argument and false message. Theirs is pure propaganda in keeping with the urgent directive to save the banks that are too big to fail.  These are the financial crime centers of America.
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    Many are the interventions taken. Let us peruse the different types, while finishing with the Gold market. The paper mache solutions can continue in a seemingly endless manner, but not in the Gold market. The intervention and suppression in the Gold market is finite. It requires Gold bullion, the physical ingot bars, in order to execute the perpetuated interference and alteration to this financial niche market. The undermine is finite, and it is coming to an end. As the major conflict between East and West is played out between Russia and the United States, bear in mind an important contrast. The Russians have the vast network of natural gas pipelines, which are being fought over in Ukraine. The pipelines supply energy to the many economies, both industry and households. The United States has a vast network of toxic flow in contaminated money, evident in the USTreasury Bond market, the FOREX currency market, and the banking systems. The pipeline for tainted funds contains channels, windows, tubes, side entries, plumbing, and levers just like a giant chemical plant. The trouble is that the US network of liquidity is toxic and leads to destroyed capital and economic ruin. The US will not win this battle. It will earn isolation even from its allies. The US is to become a pariah nation.
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    read more!

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October 25, 2014 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Next Market Crash Could Be The Worst In American History!

  • Published on Oct 23, 2014
    Alex Jones talks with expert economist Harry Dent about the economy and where it’s going.

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October 24, 2014 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , | Leave a comment

Sierra Leone: Nano Silver 10 PPM Now Official Ebola Therapy!

  • Sierra Leone: Nano Silver 10 PPM Now Official Ebola Therapy! 
    by Newton, NJ (PRWEB) October 21, 2014, http://www.prweb.com/
    Nano Silver 10 PPM has been officially approved as a therapy against the deadly Ebola virus by Honourable Alhaji Alpha Kanu, Sierra Leone’s Minister of Presidential and Public Affairs. Minister Kanu announced today that based on clinical results in the Ebola-torn areas of Port Loko and elsewhere, nutrient Nano Silver 10 PPM has been declared an official approved therapy in the Ebola crisis. No other treatment currently exists for Ebola victims.
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    Ebola, the viral disease which has killed at least 4,400 people in West Africa, has made its entrance into the United States (1 known death) and the EU (3 known deaths) where it poses a serious health threat if it spreads as it has in West Africa, Health officials are scrambling to find viable options in case of an outbreak following WHO’s announcement on August 12, 2014 clearing the way for human experimentation with untested materials of unknown safety.
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    The Minister focused his announcement on one of the safest, yet most controversial natural tools in the Ebola battle, consistently linked to overcoming viral and other disease-causing organisms — Nano Silver 10 PPM. Referring to Nano Silver 10 PPM for Ebola patients, Minister Kanu stated in an October 11, 2014 video,
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    “There is no illness that doesn’t have a cure. If you say that this illness does not get better,    then that’s a lie because 500 people have gotten better…We already have the beds and the medicines. Sheikh Massally–he is an Imam–in Atlanta, USA, has sent the nutrient Nano Silver. This works; people are getting better.” See Minister Kanu’s full statement here: http://drrimatruthreports.com/this-works-sierra-leone-information-minister/  
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    read more!

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October 24, 2014 Posted by | Medicine & Health | , , , | Leave a comment

Paul Craig Roberts: Fed Afraid Rising Gold will Sink Dollar!

  • Dollar is The Weak Spot for US-Paul Craig Roberts! 
    by Greg Hunter’s USAWatchdog.com   (Early Sunday Release)
    Former Treasury Secretary Dr. Paul Craig Roberts says all U.S. financial policy revolves around propping up the dollar.  Dr. Roberts contends, “I’ve always said the whole system is rigged.  It’s a house of cards, and the weak spot is the dollar because they cannot print foreign currencies for which to buy dollars.  So, if there is a worldwide run on the dollar, they lose control then.  In the meantime, they have all these things they can do to counteract the direction of the markets, and I expect them to continue doing that.”
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    So, if propping up the dollar is the top priority, then suppressing the gold price is a close second.  Could the COMEX or LBMA simply run out of metal sold below mining cost?  Dr. Roberts says, “Well, a lot of people think that, particularly people who think there is no gold left in Fort Knox or in the New York Fed.  They think all that has been lent out and used up.   If they’re right, then the policy they have in naked shorts in gold to drive down the price just increases the demand in Asia for more bullion.  If that is true and they don’t have a way to make those deliveries, then they are producing the crisis for themselves by holding down the gold price.  Whereas, if they let the price rise, it might temper the demand for gold in Asia and remove that problem.”
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    Dr. Roberts goes on to say, “The reason they want to hold the gold price down is they are afraid of its impact on the dollar.  The reason why they had to suppress the gold price is they had to protect the dollar from quantitative easing (QE) because they were printing trillions and trillions of new dollars.  This was worrying people around the world who hold dollars because the dollar was increasing, but not the goods and services in the American economy.  So, when the gold price took off, the Fed said this endangers QE because if the dollar is declining in value relative to gold, it must also be declining in value relative to other currencies.  Once the exchange rate starts collapsing, we lose control.  So, we’ve got to suppress gold.  I don’t know which side of the equation will play out first.  I don’t know if they will run out of gold to deliver to India and China, or people will say this is a rigged scheme and we are just not participating anymore.”  Roberts adds, “Again, I don’t know how this will play out, but we keep seeing developments that indicate that people are not content to play in rigged markets.”
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    read more!

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October 21, 2014 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , | 1 Comment

Rob Kirby: The End Is Coming To The Fiat Money System!

Click on image to download MP3 interview!

Click on image to download MP3 interview!

  • Rob Kirby – The End Is Coming To The Fiat Money System! 
    by Financial Survival Network 
    Rob Kirby joined us today for an intense look at the financial chaos taking place across the globe.The situation is getting worse by the day as The Powers That Be continue to lose control over the markets. As Rob said there isn’t one market left that’s performing its basic price discovery functions without constant interference from the Central Bank Cabal.
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    The pressures are building and eventually it’s all going to blow apart. Until that day arrives we’re going to see increasing instability and ever more manipulation.

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October 18, 2014 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Peter Schiff: Dollar Collapse and the Rise of China!

  • Published on Oct 14, 2014
    In his October Gold Videocast, Peter Schiff turns his attention to China, its appetite for gold, and the role it may play in the collapse of the US dollar. Subscribe to Peter Schiff’s Gold Videocast here: http://schiffgold.com/gold-videocast….

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    0:20 – The dollar has rallied on the false premise that the United States is the only major central bank in the world that will be ending its quantitative easing.
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    1:53 – The US economy is weaker than the economies of Europe and Japan. When investors realize this, they will return to gold.
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    2:30 – China is the world’s largest holder of US dollars. In preparation for a devaluation of the dollar, the Chinese have been moving their reserves into gold.
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    3:09 – The launch of the iPhone 6 highlights the difference between the US and Chinese economies.
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    5:02 – China’s official gold holdings are unknown, because the Chinese don’t want the world to know how much more gold they intend to buy.
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    6:00 – There will be support for gold at the $1200 level, because there are big buyers for the metal in emerging markets across the world, not just China.
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    6:32 – When confidence in the US dollar disappears, people will turn to gold. When that happens, $1200 per ounce gold will seem cheap.

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October 18, 2014 Posted by | Economics | , , , , , , , , , , , , , , | Leave a comment

James Rickards: Next Crash Exponentially Larger than Any Financial Panic in History!

  • James Rickards-Next Crash Exponentially Larger than Any Financial Panic in History! 
    by Greg Hunter’s USAWatchdog.com   (Early Sunday Release) 
    Best-selling author and financial expert James Rickards contends a big financial crash is locked in.  Rickards says, “Everyone is waiting for some blunder down the road, and the point I try to make is the blunders have already been made.  The blunders have already been built into the system.  You can see this collapse coming a mile away. . . . Using science, we can’t say very much about the timing, but we can say a lot about the magnitude.  This will be the greatest financial collapse in history.  I am quite sure about that, but I am not sure about the timing. . . . People think I can call them up at 3 o’clock in the afternoon and tell them tomorrow’s that day, sell your stocks and buy some gold. I can’t do that. I don’t know what day it will be.  If we get to that point, it would be too late to act.  So, the time to act is now.” Rickards goes on to say, “On top of the threats from Ebola, the Islamic State, the normal currency wars and the normal depression the world is in, there is financial war going on right now.  We put sanctions on Russia.  Do you think Russia is going to sit there and take it?  Russia is responding asymmetrically through cyber warfare.”
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    Rickards says in the coming crash, it is going to be very difficult to turn your assets into spendable cash.  Rickards explains, “People think everything is money.  People think your stocks are money because you can sell them and get the cash in your account in a couple of days.  People think your money market funds are money because you can call your broker and get the cash in your bank account tomorrow.  You think your house is money because you can take a second mortgage or sell your house.  What you find out in a panic is all those things are not money.  You are locked in, locked down and the only thing that is money is money.  That would be cash, if you happen to have it or gold or silver in physical form, not paper gold.  So, people don’t understand what money really is until everyone wants their money back.  That’s when you find out only a small number of things are actually money.”
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    read more!

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October 14, 2014 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , | Leave a comment

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