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Twelve Shocking Quotes From Insiders About The Horrific Economic Crisis That Is Almost Here
TEC ^ | 10-1-2011

Posted on 10/02/2011 4:30:15 PM PDT by blam

Prophets Of Doom: 12 Shocking Quotes From Insiders About The Horrific Economic Crisis That Is Almost Here

October 1, 2011

We are getting so close to a financial collapse in Europe that you can almost hear the debt bubbles popping. All across the western world, governments and major banks are rapidly becoming insolvent. So far, the powers that be are keeping all of the balls in the air by throwing around lots of bailout money. But now the political will for more bailouts is drying up and the number of troubled entities seems to grow by the day. Right now the western world is facing a debt crisis that is absolutely unprecedented in world history. Europe has had a tremendously difficult time just trying to keep Greece afloat, and several much larger European countries are now on the verge of a major financial crisis.
In addition, there is a growing number of very large financial institutions all over the western world that are also rapidly approaching a day of reckoning. The global financial system is a sea or red ink, and when we get to the point where there are hundreds of ships going under how is it going to be possible to bail all of them out? The quotes that you are about to read show that quite a few top financial and political insiders know that things cannot hold together much longer and that a horrific economic crisis is coming. We built the global financial system on a foundation of debt, leverage and risk and now this house of cards that we have created is about to come tumbling down.

A lot of people in politics and in the financial world know what is about to happen. Once in a while they will even be quite candid about it with the media.

As I have written about previously, Europe is on the verge of a financial collapse. If things go really badly, things could totally fall apart in a few weeks. But more likely it will be a few more months until the juggling act ends.

Right now, the banking system in Europe is coming apart at the seams. Because the global financial system is so interconnected today, when major European banks start to fail it is going to have a cascading effect across the United States and Asia as well.

The financial crisis of 2008 plunged us into the deepest recession since the Great Depression.

The next financial crisis could potentially hit the world even harder.

The following are 12 shocking quotes from insiders that are warning about the horrific economic crisis that is almost here....

#1 George Soros: "Financial markets are driving the world towards another Great Depression with incalculable political consequences. The authorities, particularly in Europe, have lost control of the situation."

#2 PIMCO CEO Mohammed El-Erian: "These are all signs of an institutional run on French banks. If it persists, the banks would have no choice but to delever their balance sheets in a very drastic and disorderly fashion. Retail depositors would get edgy and be tempted to follow trading and institutional clients through the exit doors. Europe would thus be thrown into a full-blown banking crisis that aggravates the sovereign debt trap, renders certain another economic recession, and significantly worsens the outlook for the global economy."

#3 Attila Szalay-Berzeviczy, global head of securities services at UniCredit SpA (Italy's largest bank): "The only remaining question is how many days the hopeless rearguard action of European governments and the European Central Bank can keep up Greece’s spirits."

#4 Stefan Homburg, the head of Germany's Institute for Public Finance: "The euro is nearing its ugly end. A collapse of monetary union now appears unavoidable."

#5 EU Parliament Member Nigel Farage: "I think the worst in the financial system is yet to come, a possible cataclysm and if that happens the gold price could go (higher) to a number that we simply cannot, at this moment, even imagine."

#6 Carl Weinberg, the chief economist at High Frequency Economics: "At this point, our base case is that Greece will default within weeks."

#7 Goldman Sachs strategist Alan Brazil: "Solving a debt problem with more debt has not solved the underlying problem. In the US, Treasury debt growth financed the US consumer but has not had enough of an impact on job growth. Can the US continue to depreciate the world’s base currency?"

#8 International Labour Organization director general Juan Somavia recently stated that total unemployment could "increase by some 20m to a total of 40m in G20 countries" by the end of 2012.

#9 Deutsche Bank CEO Josef Ackerman: "It is an open secret that numerous European banks would not survive having to revalue sovereign debt held on the banking book at market levels."

#10 Alastair Newton, a strategist for Nomura Securities in London: "We believe that we are just about to enter a critical period for the eurozone and that the threat of some sort of break-up between now and year-end is greater than it has been at any time since the start of the crisis"

#11 Ann Barnhardt, head of Barnhardt Capital Management, Inc.: "It's over. There is no coming back from this. The only thing that can happen is a total and complete collapse of EVERYTHING we now know, and humanity starts from scratch. And if you think that this collapse is going to play out without one hell of a big hot war, you are sadly, sadly mistaken."

#12 Lakshman Achuthan of ECRI: "When I call a recession...that means that process is starting to feed on itself, which means that you can yell and scream and you can write a big check, but it's not going to stop."

*****

In my opinion, the epicenter of the "next wave" of the financial collapse is going to be in Europe. But that does not mean that the United States is going to be okay. The reality is that the United States never recovered from the last recession and there are already a lot of signs that we are getting ready to enter another major recession. A major financial collapse in Europe would just accelerate our plunge into a new economic crisis.

If you want to read something that will really freak you out, you should check out what Dr. Philippa Malmgren is saying. Dr. Philippa Malmgren is the President and founder of Principalis Asset Management. She is also a former member of the Bush economic team. You can find her bio right here.

Malmgren is claiming that Germany is seriously considering bringing back the Deutschmark. In fact, she claims that Germany is very busy printing new currency up. In a list of things that we could see happen over the next few months, she included the following....

"The Germans announce they are re-introducing the Deutschmark. They have already ordered the new currency and asked that the printers hurry up." This is quite a claim for someone to be making. You would think that someone that used to work in the White House would not make such a claim unless it was based on something solid.

If Germany did decide to leave the euro, you would see an implosion of the euro that would be truly historic.

But as I have written about previously, it should not surprise anyone that the end of the euro is being talked about because the euro simply does not work.

The only way that the euro would have had a chance of working is if all of the governments using the euro would have kept debt levels very low.

Unfortunately, the financial systems of the western world are designed to push governments into high levels of debt.

The truth is that the euro was doomed from the very beginning.

Now we are approaching a day of reckoning. We have been living in the greatest debt bubble in the history of the world, but the bubble is ending. There are several ways that the powers that be could handle this, but all of them will lead to greater financial instability.

In the end, we will see that the debt-fueled prosperity that the western world has been enjoying for decades was just an illusion.

Debt is a very cruel master. It will almost always bring more pain and suffering than you anticipated.

It is easy to get into debt, but it can be very difficult to get out of debt.

There is no way that the western world can unwind this debt spiral easily.

The only way that another massive economic crisis can be put off for even a little while would be for the powers that be to "kick the can down the road" a little farther by creating even more debt.

But in the end, you can never solve a debt problem with more debt.

The next several years are going to be an incredibly clear illustration of why debt is bad.

When the dominoes start to fall, we are going to witness a financial avalanche which is going to destroy the finances of millions of people.

You might want to try to get out of the way while you still can.


TOPICS: News/Current Events
KEYWORDS: 2ndgreatdepression; bhoeconomy; collapse; decline; default; depression; depression2point0; dollar; dollarcollapse; economy; getreadyhereitcomes; markets; obamabonics; obamadepression; preparedness; prepperping; recession; resources; shtf; survivalping; tshtf
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1 posted on 10/02/2011 4:30:20 PM PDT by blam
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To: blam

are you sure it’s this dire?


2 posted on 10/02/2011 4:33:37 PM PDT by ken21 (ruling class dem + rino progressives -- destroying america for 150 years.)
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To: blam

I remember reading this kind of thing years ago here at FR. Perhaps if FR could take over, all would be fixed! =)


3 posted on 10/02/2011 4:35:12 PM PDT by NoGrayZone ("Islamophobia: The irrational fear of being beheaded." Andrew Klavan of PJTV)
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To: ken21
"Are you sure it’s this dire?"

You don't believe all these experts?

4 posted on 10/02/2011 4:40:23 PM PDT by blam
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To: blam
When the dominoes start to fall, we are going to witness a financial avalanche which is going to destroy the finances of millions of people.

Ah, but some folks will doubtlessly think....

...Buying opportunity, n'est ce pas?

.

5 posted on 10/02/2011 4:41:15 PM PDT by Seaplaner (Never give in. Never give in. Never...except to convictions of honour and good sense. W. Churchill)
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To: Kartographer
The Stock Market Smells Deflation
6 posted on 10/02/2011 4:42:06 PM PDT by blam
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To: blam

I just checked on Schwab. Everyone is selling their Bank debt (especially Bank of America debt) at really, really deep discounts below par.


7 posted on 10/02/2011 4:44:25 PM PDT by rbg81
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To: Farage

"gold prices could go (higher) to a number that we simply cannot, at this moment, even imagine"

What you aren't understanding is that with the accompanying social collapse gold will have little more utility than the lint in your pocket.


8 posted on 10/02/2011 4:44:59 PM PDT by I see my hands (Keep your sunny side up!)
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To: blam

“Germany is very busy printing new currency up”

interesting.


9 posted on 10/02/2011 4:47:43 PM PDT by Jet Jaguar
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To: blam

I’m a bit worried that one of these authorities is named Mohammed, and another is named Atilla. Things that make you go Hmmmm.

That aside, I’m afraid they are right.


10 posted on 10/02/2011 4:50:47 PM PDT by Cicero (Marcus Tullius.)
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To: blam
And hasn't it become painfully obvious what Obama (via Spooky dude) has in store for our financial market?

Reality is, we are a better country...a better people and the stench and ilk of Soros is threatening but cannot come to fruition...Obama will be gone soon.

On an aside, I love how my spell checker still flags Obama as a possible misspelling! Somehow that gives me comfort...and I never choose "Add to dictionary."

11 posted on 10/02/2011 4:51:09 PM PDT by IrishPennant (We don't want to work so we go to work to make enough money not to work...Huh?)
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To: blam; All

RE: #11 Ann Barnhardt

She is the young lady who has posted numerous vids on youtube dissing the pedophile prophet moe-ham-head and discussing the truth about Islam in general (vid of her reading a bacon bookmarked koran and burning the pages is priceless)

http://www.youtube.com/results?search_query=barnhardt+ann&aq=1&oq=barnhard


12 posted on 10/02/2011 4:57:51 PM PDT by dynachrome ("Our forefathers didn't bury their guns. They buried those that tried to take them.")
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To: blam

If Germany is printing up an alternate currency, why did the German Parliament vote 5 to 1 to support the EFSF with a hefty contribution?


13 posted on 10/02/2011 5:04:37 PM PDT by Pearls Before Swine
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To: I see my hands
If a general collapse is to occur, currencies will lose all value. Gold will used to establish credit systems. You won't be carving slivers off your double eagle to buy bread, you will be using your double eagle as collateral for credit to buy bread. Just like in the old days.
14 posted on 10/02/2011 5:05:43 PM PDT by hinckley buzzard
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To: blam

OK ... bottom line ... Should I or should I not start buying more silver and gold?????

I keep hearing “hyperinflation” and “deflation” from the “Experts”.

Who to believe????


15 posted on 10/02/2011 5:07:26 PM PDT by CapnJack
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To: hinckley buzzard
I get your point.. but what bread?

16 posted on 10/02/2011 5:09:47 PM PDT by I see my hands (Keep your sunny side up!)
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To: dynachrome
That is great.

Why haven't the POS Islamists killed her yet?

17 posted on 10/02/2011 5:15:58 PM PDT by blam
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To: ken21
Is it dire?

Well, there has been a sharp increase in high-end jewelry being put up for sale on Ebay. From what I can tell, it is all over-priced and not selling.

And sales on Ebay have tanked - at least that is what I've been reading in the Chat Rooms. (Ebay closed out and erased all Chat Rooms yesterday.)

Items that are selling well - shoes and clothes.

It must be people stocking up before the forthcoming shortages.

Incidentally, it is possible to buy coffee from wholesalers on Ebay. I buy Arabian Mocha Sanani in five pound boxes. It is cheaper than anywhere else.

18 posted on 10/02/2011 5:17:01 PM PDT by SatinDoll (NO FOREIGN NATIONALS AS OUR PRESIDENT!)
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To: CapnJack
"OK ... bottom line ... Should I or should I not start buying more silver and gold?????"

I don't know.

19 posted on 10/02/2011 5:20:35 PM PDT by blam
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To: Cicero

Attila Szalay-Berzeviczy - Hungarian


20 posted on 10/02/2011 5:21:55 PM PDT by vladimir998
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To: blam
"The Germans announce they are re-introducing the Deutschmark. They have already ordered the new currency and asked that the printers hurry up."

What's the process? Do the Germans replace the fiat German Euros with fiat Deutschmarks? If so, who sets the exchange rate and what is it based on? This could be a stealth devaluation.

21 posted on 10/02/2011 5:25:50 PM PDT by immadashell
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To: CapnJack

“OK ... bottom line ... Should I or should I not start buying more silver and gold?????”

I like both kinds of investments - silver AND gold!


22 posted on 10/02/2011 5:28:46 PM PDT by headsonpikes (Genocide is the highest sacrament of socialism - "Who-whom?")
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To: blam

Maybe a world currency and a charismatic world leader to solve the Palestinian “statehood” problem.


23 posted on 10/02/2011 5:29:00 PM PDT by F15Eagle (1 John 5:4-5, 4:15, 5:13; John 3:17-18, 6:69, 11:25, 14:6, 20:31; Rom10:8-11; 1 Tim 2:5; Titus 3:4-5)
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To: IrishPennant

“On an aside, I love how my spell checker still flags Obama as a possible misspelling! Somehow that gives me comfort...”
__________________________________________

I never, ever, type the name as “Obama”.
For me it is always Obumbo, or Obozo.

As for the TEC article, I will forward it to my good friend
who manages the currency trading department at one of the large banks in Slovakia.
It will be interesting to get his take on it.


24 posted on 10/02/2011 5:29:50 PM PDT by AlexW
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To: blam

I am shocked they have not tried yet. I was privileged to shake her hand. She met me at the door with a 12 guage shotgun, so I assume she is well aware of the threat.


25 posted on 10/02/2011 5:32:08 PM PDT by dynachrome ("Our forefathers didn't bury their guns. They buried those that tried to take them.")
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To: blam

Scary. What can one do?


26 posted on 10/02/2011 5:32:16 PM PDT by WashingtonSource
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To: I see my hands

“But what bread?”
What bread indeed.If I can’t get fuel,fertilizer and parts to keep my equipment running,then we all starve.


27 posted on 10/02/2011 5:54:34 PM PDT by Farmer Dean (stop worrying about what they want to do to you,start thinking about what you want to do to them)
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To: blam

That Ann Barnhardt sounds like a hoot. Check out the editorial on her website. Burning a Koran with bacon in it.

http://barnhardt.biz/


28 posted on 10/02/2011 5:56:25 PM PDT by yefragetuwrabrumuy
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To: NoGrayZone

The only way out of this is for the bad debt to work itself out of the system and those holding the bad debt to write down their losses.

This is something that needs to be done, it’s the only way.


29 posted on 10/02/2011 5:59:42 PM PDT by Jonty30
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To: blam
If u don't have any...You better start soon....

Look at it as an insurance policy...not an investment

(On the other hand...Ive been picking up small amounts for years as insurance...Now I realize it has turned into a very good investment....been a Win-Win for me...

30 posted on 10/02/2011 6:02:14 PM PDT by M-cubed
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To: CapnJack; blam

The asset value of long term treasury bonds have gone up about 20% since July.

Since late August, Gold has gone down about 15%, the Vanguard Energy fund is off about 30%, the Agriculture ETF (”DBA”) is off more than 20% , and the Commodity metals ETF (DBB) is off about 25%.

Looks deflationary to me.


31 posted on 10/02/2011 6:07:14 PM PDT by haroldeveryman
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To: blam
Ann Barnhardt, head of Barnhardt Capital Management, Inc.: "It's over. There is no coming back from this. The only thing that can happen is a total and complete collapse of EVERYTHING we now know, and humanity starts from scratch. And if you think that this collapse is going to play out without one hell of a big hot war, you are sadly, sadly mistaken."

Boy that Ann is just little Miss Sunshine isn't she.

32 posted on 10/02/2011 6:08:52 PM PDT by The Cajun (Palin, Free Republic, Mark Levin, Rush, Hannity......Nuff said.)
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To: M-cubed
"If u don't have any...You better start soon...."

Thanks...I'm covered.

33 posted on 10/02/2011 6:12:00 PM PDT by blam
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To: blam

“What Geithner does not want the public to understand, his “dirty little secret”, is that the repeal of Glass-Steagall and the passage of the Commodity Futures Modernization Act in 2000 allowed the creation of a tiny handful of banks that would virtually monopolize key parts of the global “off-balance sheet” or OTC derivatives issuance.

Today, five US banks, according to data in the just-released Federal Office of Comptroller of the Currency’s Quarterly Report on Bank Trading and Derivatives Activity, hold 96% of all US bank derivatives positions in terms of nominal values, and an eye-popping 81% of the total net credit risk exposure in event of default.

The top three are, in declining order of importance: JPMorgan Chase, which holds a staggering $88 trillion in derivatives; Bank of America with $38 trillion, and Citibank with $32 trillion. Number four in the derivatives sweepstakes is Goldman Sachs, with a mere $30 trillion in derivatives; number five, the merged Wells Fargo-Wachovia Bank, drops dramatically in size to $5 trillion. Number six, Britain’s HSBC Bank USA, has $3.7 trillion. “

http://www.atimes.com/atimes/Global_Economy/KD03Dj02.html

These numbers are from 2009. Presently the top five US banks are on the hook for over 250 trillion in credit derivative exposure.

http://www.zerohedge.com/news/five-banks-account-96-250-trillion-outstanding-derivative-exposure-morgan-stanley-sitting-fx-de

BTW..is it any wonder they’re becoming terrified of free speech and the right to associate freely?

http://theeconomiccollapseblog.com/archives/the-federal-reserve-plans-to-identify-key-bloggers-and-monitor-billions-of-conversations-about-the-fed-on-facebook-twitter-forums-and-blogs


34 posted on 10/02/2011 6:13:30 PM PDT by mo
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To: immadashell

Here’s a rate already

http://coinmill.com/DEM_EUR.html#DEM=1


35 posted on 10/02/2011 6:17:07 PM PDT by mo
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To: yefragetuwrabrumuy
I love it!

Yes, the email is 100% true and correct

Posted by Ann Barnhardt
- September 29, AD 2011 11:12 AM MST

For some reason I am suddenly getting scads of emails asking to confirm my response to a musloid death threat. Yes, that is 100% real and accurate, and yes, that picture of a rosary-wrapped hand grasping a pink AR-15 is me. It is my very real Colt M4 that has been custom DuraCoated. Yes, yes, yes. Here is the original exchange from July 22 via YouTube. This guy is a musloid over in the U.K., hence the driving directions citing the daily direct flights from Heathrow to Denver:

YouTube user mufcadnan123 has sent you a message:

Watch your back.

To:annbarnhardt

I'm going to kill you when I find you. Don't think I won't, I know where you and your parents live and I'll need is one phone-call to kil ya'll.

Re: Watch your back.

Hello mufcadnan123!

You don't need to "find" me. My address is 9175 Kornbrust Circle, Lone Tree, CO 80124.

Luckily for you, there are daily DIRECT FLIGHTS from Heathrow to Denver. Here's what you will need to do. After arriving at Denver and passing through customs, you will need to catch the shuttle to the rental car facility. Once in your rental car, take Pena Boulevard to I-225 south. Proceed on I-225 south to I-25 south. Proceed south on I-25 to Lincoln Avenue which is exit 193. Turn right (west) onto Lincoln. Proceed west to the fourth light, and turn left (south) onto Ridgegate Boulevard. Proceed south, through the roundabout to Kornbrust Drive. Turn left onto Kornbrust Drive and then take an immediate right onto Kornbrust Circle. I'm at 9175.

Just do me one favor. PLEASE wear body armor. I have some new ammunition that I want to try out, and frankly, close- quarter body shots without armor would feel almost unsporting from my perspective. That and the fact that I'm probably carrying a good 50 I.Q. points on you makes it morally incumbent upon me to spot you a tactical advantage.

However, being that you are a miserable, trembling coward, I realize that you probably are incapable of actually following up on any of your threats without losing control of your bowels and crapping your pants while simultaneously sobbing yourself into hyperventilation. So, how about this: why don't you contact the main mosque here in Denver and see if some of the local musloids here in town would be willing to carry out your attack for you? After all, this is what your "perfect man" mohamed did (pig excrement be upon him). You see, mohamed, being a miserable coward and a con artist, would send other men into battle to fight on his behalf. Mohamed would stay at the BACK of the pack and let the stupid, ignorant suckers like you that he had conned into his political cult do the actual fighting and dying. Mohamed would then fornicate with the dead men's wives and children. You should follow mohamed's example! Here is the contact info for the main mosque here in Denver:

Masjid Abu Bakr
Imam Karim Abu Zaid
2071 South Parker Road
Denver, CO 80231
Phone: 303-696-9800
Email: denvermosque@yahoo.com

I'm sure they would be delighted to hear from you. Frankly, I'm terribly disappointed that not a SINGLE musloid here in the United States has made ANY attempt to rape and behead me. But maybe I haven't made myself clear enough, so let me do that right now.

I will NEVER, EVER, EVER submit to islam. I will fight islam with every fiber of my being for as long as I live because islam is pure satanic evil. If you are really serious about islam dominating the United States and the world, you are going to have to come through me. You are going to have to kill me. Good luck with that. And understand that if you or some of your musloid boyfriends do actually manage to kill me, The Final Crusade will officially commence five minutes later, and then, despite your genetic mental retardation, you will be made to understand with crystal clarity what the word "defeat" means. Either way, I win, so come and get it.

Deo adjuvante non timendum-
Ann Barnhardt

----------------------------------------------------------

36 posted on 10/02/2011 6:25:55 PM PDT by blam
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To: ken21

Dire?

SOMEONE is going to absorb a $28 trillion dollar loss. That’s $23,000 per citizen of Europe+USA.
You gonna just write a check for $23,000 knowing you don’t owe it and you will get nothing for it? Well, your name is on the bill, and the repo man is coming. Time is up. You gonna grab a pen or a gun?


37 posted on 10/02/2011 6:34:44 PM PDT by ctdonath2 ($1 meals: http://abuckaplate.blogspot.com/)
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To: CapnJack

I keep hearing “hyperinflation” and “deflation” from the “Experts”.

Who to believe????


If silver and gold are going to be soooo valuable, then why are these experts so eager to sell it? Seems to me that those in the know would keep quiet while they transfered all of their own wealth into silver and gold.


38 posted on 10/02/2011 6:41:49 PM PDT by paint_your_wagon
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To: I see my hands

Costco has 50 lb bags of bread flour for $16.
$200, plus enough for 1/4 tsp dry yeast & 1.25 tsp salt per 3 cups, is enough to feed an adult for a year.

Better than nothing. Stock up now.


39 posted on 10/02/2011 6:44:58 PM PDT by ctdonath2 ($1 meals: http://abuckaplate.blogspot.com/)
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To: blam

Kept we’re screwed all right.


40 posted on 10/02/2011 6:48:12 PM PDT by shield ((Rev 2:9 Woe unto those who say they are Judahites and are not, but are of the syna GOG ue of Satan.)
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To: blam

Awesome, Blam. I find her looks and her writing extremely attractive!


41 posted on 10/02/2011 6:48:38 PM PDT by Alas Babylon!
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To: I see my hands

In WWII, the Japanese hoarded gold so they could afford what they needed when SHTF. When it did, there was nothing to buy.

Gold is for bridging value across an economic crash, not buying staples during it.


42 posted on 10/02/2011 6:50:27 PM PDT by ctdonath2 ($1 meals: http://abuckaplate.blogspot.com/)
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To: haroldeveryman
Looks deflationary to me.

But... but... Bernanke said he would FIGHT deflation!

43 posted on 10/02/2011 6:51:11 PM PDT by SomeCallMeTim ( The best minds are not in government. If any were, business would hire them)
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To: blam

Thanks for giving it to us straight.


44 posted on 10/02/2011 6:59:37 PM PDT by Graewoulf ( obama"care" violates the 1890 Sherman Anti-Trust Law, AND is illegal by the U.S. Constitution.)
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To: Jonty30
"The only way out of this is for the bad debt to work itself out of the system and those holding the bad debt to write down their losses."

I think that option is at least 20 years years too late. (see above)

45 posted on 10/02/2011 7:05:22 PM PDT by LZ_Bayonet ( I AM THE TEA PARTY LEADER !)
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To: blam

To remind others here, there’s no one, big, single crash in a terrible decline, although cursory history lessons appear to indicate that. There are fluctuations, and it’s doubtful that we’ll see the dates of the biggest ones in advance with any accuracy. With machines and so many groups playing the short game, it’s harder to tell than ever before without inside information from members of those groups (also favored constituents of politicians and very globally oriented). And they lie. It’s part of how they make money.

And that’s why some of the broad behaviors in the market seem to make little or no sense. For example, downgrade the our currency with good reason (crazy debt regime), and our currency goes up. Another: the Fed makes an extremely desperate bond-swap move, and our currency goes up, further crushing US manufacturing and exports.

In short, we’re ruled by tyrants engaged in orchestrated insanities for their own personal interests, and they’re not really contributing to western production or prosperity. Extreme decline is imminent. They’ll either continue squeezing the dollar up to hasten the decline, as the debt regime has already gone too far. Or they’ll put it off a short while longer by devaluing the dollar.

And BTW, the stuff about China’s immediate decline is propaganda for placating the western masses that are about to erupt. The latest effort to hike the dollar unnaturally and internationally, and to crush oil prices, is an effort to try to continue the import regime (lowering freight fuel, Chinese prices, etc.). Watch for new floods of American unemployed. It’s the end of 2007 and beginning of 2008 all over again, but far worse.

Hold on to your pennies. Don’t buy anything.


46 posted on 10/02/2011 7:05:35 PM PDT by familyop ("Don't worry, they'll row for a month before they figure out I'm fakin' it." --Deacon, "Waterworld")
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To: blam

I would assume that Ann’s stalker has not showed his face yet as her web site is still up and running. I just could imagine her taking a trophy photo with him hanging upside down from a tree limb.


47 posted on 10/02/2011 7:07:42 PM PDT by RetiredTexasVet (There's a pill for just about everything ... except stupid!)
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To: SatinDoll

I work in the Fine Jewelry sector...people still are buying but being very cautious about what they buy....I see many walking away from gold purchases...stunned at the price of a simple gold chain.

Further gold pieces are far less weighty than even a year ago...some pieces so light they are more like the weight of hallow gold...customers are not happy...and a rude awakening to many.

We have price increases at pace I haven’t seen before.


48 posted on 10/02/2011 7:09:17 PM PDT by caww
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To: caww

I had to have a clasp repaired last week and was stunned at the price of gold charms.

Astonishing.

Is sterling silver still about the same?


49 posted on 10/02/2011 7:13:45 PM PDT by Mears
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To: LZ_Bayonet

I knoe.

But it’s still the only option. It’s just going to hurt more. :(


50 posted on 10/02/2011 7:17:05 PM PDT by Jonty30
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