What Will The Coming Financial Collapse Look Like?
Nov 24, 2014 16:18:56 GMT 10
Peter, pheniox17, and 1 more like this
Post by Matilda on Nov 24, 2014 16:18:56 GMT 10
For those of us that have been watching, listening, observing the coming financial collapse of the US$, we know it's coming, but we don't know what will trigger it. It might be similar to that weekend in September 2008 when the US government allowed the investment bank Lehman Brothers to go bankrupt. Up to that point, it had been assumed that governments would always step in to bail out any bank that got into serious trouble. Names like Freddie Mac and Fannie Mae will be names we will always associate with the GFC.
If you read what is happening in Australia in politics, Australia is about to sign up to a new mega bank - instigated by China - and benefiting the Asia- Pacific region. Is this a good or bad thing? Canada has already signed and the deal will allow direct business between the Canadian dollar and the Chinese yuan, cutting out the middle man — in most cases, the U.S. dollar. If we don't sign and we stand by our ally - and don't forget what socialist Obama has done to America with QE1-2-3(?), we will go down hard when the US$ goes.
Another crack appearing is the petro-dollar.
The petro-dollar system is the heart and soul of America's domination over the global reserve currency, and their right to make all nations have to purchase U.S. dollars to be able to buy oil in the open market. Bound through an agreement with Saudi Arabia and OPEC in 1973, this de facto standard has lasted for over 41 years and has been the driving force behind America's economic, political, and military power. But Obama has ended that and has handed it to IRAN and the Saudi's are none to pleased.
We are beginning to see each week now, that China, Russia, or one of the BRICS nations are finalising agreements that supersede the old system of trading in the US$ and reliance on the petro-dollar system. And as many countries begin to reject the US dollar due to the exported inflation that is growing in nations that are relegated to having to hold them for global oil purchases, alternatives such as the Chinese Yuan will become a more viable option, especially now that the Asian power has taken over the top spot as the world's biggest economy.
I personally think it will be much more localised. I believe the US people are not only frightened by their government, but some are looking for an excuse to ignite that flame. I think that flame will turn into a raging inferno and it will start with the decision - which is now being reported that will be kept secret - in Ferguson, Missouri.
It is being reported from Daily Sheeple, theeconomiccollapseblog.com/archives/category/societal-collapse that protest organizers have put up a Tumblr page for something called “The Ferguson National Response Network“. According to that page, “planned responses” are being organized in 82 cities throughout the United States. In addition, protest organizers have released a list of 19 “Proposed Rules of Engagement” for confrontations with law enforcement authorities. Needless to say, all of this sounds quite ominous. The following are the 82 cities where “planned responses” are currently being organised.
Albany, NY
Albuquerque, NM
Atlanta, GA
Austin, TX
Baltimore, MD
Bangor, ME
Beavercreek, OH
Blacksburg, VA
Boston, MA
Buffalo, NY
Carbondale, IL
Chapel Hill, NC
Chattanooga, TN
Chicago, IL
Cleveland, OH
Columbia, MO
Columbus, OH
Dallas, TX
Denver, CO
Des Moines, IA
Detroit, MI
Durham, NC
Ferguson, MO
Gainesville, FL
Grand Rapids, MI
Greensboro, NC
Greenville, NC
Grinnell, IA
Houston, TX
Indianapolis, IN
Iowa City, IA
Jackson, MI
Kansas City, MO
Kennesaw, GA
Lawrence, KS
Lexington, KY
Longview, TX
Los Angeles, CA
Louisville, KY
Meadville, PA
Memphis, TN
Milwaukee, WI
Minneapolis, MN
Mobile, AL
Monpelier, VT
Monroeville, OH
Nashville, TN
New London, CT
New Orleans, LA
Newark, NJ
Northampton, MA
NYC, NY
Oak Ridge, TN
Oakland, CA
Olympia, WA
Oshkosh, WI
Phoenix, AZ
Philadelphia, PA
Pittsburgh, PA
Portland, OR
Providence, RI
Raleigh, NC
Rochester, NY
Rocky Mount, NC
San Diego, CA
Santa Barbara, CA
Seattle, WA
South Hadley, MA
Spring Valley, NY
Springfield, MA
St. Paul, MN
St. Petersburg, FL
Stroudsberg, PA
Tallahassee, FL
Tampa, FL
Toledo, OH
Toronto, Canada
Tucson, AZ
Washington, D.C.
West Hartford, CT
West Palm Beach, FL
Williamsburg, VA
Worcester, MA
Police in Ferguson are warning citizens that they better buy guns because they “will not be able to protect you or your family“. And CNN is reporting that gun sales in Ferguson are indeed surging.
Our world seems to be crumbling at every turn. I believe that God's timing is always perfect and for myself and hubby to prepare our family for what is ahead, for that I am truly grateful that prepping was placed on our hearts. But this is not what I wanted to say - the next is what we are to be aware of when we are starting see signs that may usher in and signal the collapse is near. I subscribe to Casey Research and the following is a glimpse into what may be warning signs although we may not see them here in Australia.
...........Back in 1999, of course, the very idea that the world was headed for serious economic calamity was considered ridiculous by most. The unfortunate fact is, most people do truly deal in the present, rarely questioning the future beyond what they consider to be the very next event. The truth of this statement is borne out by the fact that the great majority of people, who have already seen the first half of the Great Unravelling come to pass, still somehow cannot imagine the second half—the more disastrous half—as being in any way possible. Surely, somehow, the governments of the world will fix things.
However, the number of people whose eyes have been opened seems to be growing and many of them are asking what the collapse will look like as it unfolds. What will the symptoms be?
Well, the primary events are fairly predictable: they would include major collapses in the bond and stock markets and possible sudden deflation (primarily of assets), followed by dramatic inflation, if not hyperinflation (primarily of commodities), (let me jump in here: deflation of assets would mean your home valuation is drastically reduced. In the last GFC in the USA, homes that were $400,000 ended up being $100,000. People just walked away from them. Are we not being told not to over borrow?? Dramatic inflation - the cost of basics like milk, bread, meat etc will start to rise, then rise again, then you will see a loaf of bread for $5 this week and in 1 month it may be $7, then if hyperinflation takes off, that $7 loaf of bread becomes $70. This is one of the sensible reasons to prep!!! ) ......... followed by a crash of several major currencies, particularly the euro and the US dollar.
The secondary events will be less certain, but likely: increased unemployment, currency controls, protective tariffs, severe depression, etc.
But, along the way, there will be numerous surprises—actions taken by governments that may be as unprecedented as they would be unlawful. Why? Because, again, such actions are the norm when a government finds itself losing its grip over the people it perceives as its minions. Here are a few:
......Travel Restrictions. This will begin with restrictions on foreign travel, including suspension/removal of passports. (This has begun in a small way in both the EU and US.) Later, travel restrictions will be extended within the boundaries of countries (highway checkpoints, etc.)
......Confiscation of wealth. The EU has instituted the confiscation of bank accounts, which can be expected to become an international form of governmental theft. This does not automatically mean that other assets, such as precious metals and real estate will also be confiscated, but it does mean that the barrier for confiscation has been eliminated. There is therefore no reason to assume that any asset is safe from any government that approves theft through bail-ins.
.......Food Shortages. The food industry operates on very small profit margins and survives only as a result of quick payment of invoices. With dramatic inflation, marginal businesses (suppliers, wholesalers, and retailers) will fall by the wayside. The percentage of failing businesses will be dependent upon the duration and severity of the inflationary trend.
......Squatters Rebellions. A dramatic increase in the number of home and business foreclosures will result in homelessness for anyone whose debt exceeds his ability to pay—even those who presently appear to be well-off. As numbers rise significantly, a new homeless class will be created amongst the former middle class. As they become more numerous, large scale ownership of property may give way to large scale "possession" of property.
.......Riots. These will likely happen spontaneously due to the above conditions, but if not, governments will create them to justify their desire for greater control of the masses.
.......Martial Law. The US has already prepared for this, with the passing of the 2012 National Defense Authorization Act (NDAA), which many interpret as declaring the US to be a "battlefield." The NDAA allows the suspension of habeas corpus, indefinite detention, and the assumption that any resident may be considered an enemy combatant. Similar legislation may be expected in other countries that perceive martial law as a solution to civil unrest.
The above list is purposely brief—a sampling of eventualities that, should they occur, will almost definitely come unannounced. As the decline unfolds, they will surely happen with greater frequency.
But the value in projecting what the collapsing governments may do to their citizens is not merely an exercise in speculation. By anticipating the likelihood of any of the above, the individual may find that it would be prudent to turn off the game on television tonight and spend his time musing on the possibility of what he would do if any of the above events were to take place. (And, again, these projections are not mere fancy; they are actions typically taken by governments as their declines play out.)
Most importantly, if the reader concludes that there is a significant percentage of likelihood that any of the above are coming his way, he would be well-advised to assess whether they are developments that he feels he could live with. If not, he might wish to assess how much time he has before these events become a reality and what he may do to sidestep their impact on him......
_______________________________
Always remember: It wasn't raining when Noah entered the ark.......
If you read what is happening in Australia in politics, Australia is about to sign up to a new mega bank - instigated by China - and benefiting the Asia- Pacific region. Is this a good or bad thing? Canada has already signed and the deal will allow direct business between the Canadian dollar and the Chinese yuan, cutting out the middle man — in most cases, the U.S. dollar. If we don't sign and we stand by our ally - and don't forget what socialist Obama has done to America with QE1-2-3(?), we will go down hard when the US$ goes.
Another crack appearing is the petro-dollar.
The petro-dollar system is the heart and soul of America's domination over the global reserve currency, and their right to make all nations have to purchase U.S. dollars to be able to buy oil in the open market. Bound through an agreement with Saudi Arabia and OPEC in 1973, this de facto standard has lasted for over 41 years and has been the driving force behind America's economic, political, and military power. But Obama has ended that and has handed it to IRAN and the Saudi's are none to pleased.
We are beginning to see each week now, that China, Russia, or one of the BRICS nations are finalising agreements that supersede the old system of trading in the US$ and reliance on the petro-dollar system. And as many countries begin to reject the US dollar due to the exported inflation that is growing in nations that are relegated to having to hold them for global oil purchases, alternatives such as the Chinese Yuan will become a more viable option, especially now that the Asian power has taken over the top spot as the world's biggest economy.
I personally think it will be much more localised. I believe the US people are not only frightened by their government, but some are looking for an excuse to ignite that flame. I think that flame will turn into a raging inferno and it will start with the decision - which is now being reported that will be kept secret - in Ferguson, Missouri.
It is being reported from Daily Sheeple, theeconomiccollapseblog.com/archives/category/societal-collapse that protest organizers have put up a Tumblr page for something called “The Ferguson National Response Network“. According to that page, “planned responses” are being organized in 82 cities throughout the United States. In addition, protest organizers have released a list of 19 “Proposed Rules of Engagement” for confrontations with law enforcement authorities. Needless to say, all of this sounds quite ominous. The following are the 82 cities where “planned responses” are currently being organised.
Albany, NY
Albuquerque, NM
Atlanta, GA
Austin, TX
Baltimore, MD
Bangor, ME
Beavercreek, OH
Blacksburg, VA
Boston, MA
Buffalo, NY
Carbondale, IL
Chapel Hill, NC
Chattanooga, TN
Chicago, IL
Cleveland, OH
Columbia, MO
Columbus, OH
Dallas, TX
Denver, CO
Des Moines, IA
Detroit, MI
Durham, NC
Ferguson, MO
Gainesville, FL
Grand Rapids, MI
Greensboro, NC
Greenville, NC
Grinnell, IA
Houston, TX
Indianapolis, IN
Iowa City, IA
Jackson, MI
Kansas City, MO
Kennesaw, GA
Lawrence, KS
Lexington, KY
Longview, TX
Los Angeles, CA
Louisville, KY
Meadville, PA
Memphis, TN
Milwaukee, WI
Minneapolis, MN
Mobile, AL
Monpelier, VT
Monroeville, OH
Nashville, TN
New London, CT
New Orleans, LA
Newark, NJ
Northampton, MA
NYC, NY
Oak Ridge, TN
Oakland, CA
Olympia, WA
Oshkosh, WI
Phoenix, AZ
Philadelphia, PA
Pittsburgh, PA
Portland, OR
Providence, RI
Raleigh, NC
Rochester, NY
Rocky Mount, NC
San Diego, CA
Santa Barbara, CA
Seattle, WA
South Hadley, MA
Spring Valley, NY
Springfield, MA
St. Paul, MN
St. Petersburg, FL
Stroudsberg, PA
Tallahassee, FL
Tampa, FL
Toledo, OH
Toronto, Canada
Tucson, AZ
Washington, D.C.
West Hartford, CT
West Palm Beach, FL
Williamsburg, VA
Worcester, MA
Police in Ferguson are warning citizens that they better buy guns because they “will not be able to protect you or your family“. And CNN is reporting that gun sales in Ferguson are indeed surging.
Our world seems to be crumbling at every turn. I believe that God's timing is always perfect and for myself and hubby to prepare our family for what is ahead, for that I am truly grateful that prepping was placed on our hearts. But this is not what I wanted to say - the next is what we are to be aware of when we are starting see signs that may usher in and signal the collapse is near. I subscribe to Casey Research and the following is a glimpse into what may be warning signs although we may not see them here in Australia.
...........Back in 1999, of course, the very idea that the world was headed for serious economic calamity was considered ridiculous by most. The unfortunate fact is, most people do truly deal in the present, rarely questioning the future beyond what they consider to be the very next event. The truth of this statement is borne out by the fact that the great majority of people, who have already seen the first half of the Great Unravelling come to pass, still somehow cannot imagine the second half—the more disastrous half—as being in any way possible. Surely, somehow, the governments of the world will fix things.
However, the number of people whose eyes have been opened seems to be growing and many of them are asking what the collapse will look like as it unfolds. What will the symptoms be?
Well, the primary events are fairly predictable: they would include major collapses in the bond and stock markets and possible sudden deflation (primarily of assets), followed by dramatic inflation, if not hyperinflation (primarily of commodities), (let me jump in here: deflation of assets would mean your home valuation is drastically reduced. In the last GFC in the USA, homes that were $400,000 ended up being $100,000. People just walked away from them. Are we not being told not to over borrow?? Dramatic inflation - the cost of basics like milk, bread, meat etc will start to rise, then rise again, then you will see a loaf of bread for $5 this week and in 1 month it may be $7, then if hyperinflation takes off, that $7 loaf of bread becomes $70. This is one of the sensible reasons to prep!!! ) ......... followed by a crash of several major currencies, particularly the euro and the US dollar.
The secondary events will be less certain, but likely: increased unemployment, currency controls, protective tariffs, severe depression, etc.
But, along the way, there will be numerous surprises—actions taken by governments that may be as unprecedented as they would be unlawful. Why? Because, again, such actions are the norm when a government finds itself losing its grip over the people it perceives as its minions. Here are a few:
......Travel Restrictions. This will begin with restrictions on foreign travel, including suspension/removal of passports. (This has begun in a small way in both the EU and US.) Later, travel restrictions will be extended within the boundaries of countries (highway checkpoints, etc.)
......Confiscation of wealth. The EU has instituted the confiscation of bank accounts, which can be expected to become an international form of governmental theft. This does not automatically mean that other assets, such as precious metals and real estate will also be confiscated, but it does mean that the barrier for confiscation has been eliminated. There is therefore no reason to assume that any asset is safe from any government that approves theft through bail-ins.
.......Food Shortages. The food industry operates on very small profit margins and survives only as a result of quick payment of invoices. With dramatic inflation, marginal businesses (suppliers, wholesalers, and retailers) will fall by the wayside. The percentage of failing businesses will be dependent upon the duration and severity of the inflationary trend.
......Squatters Rebellions. A dramatic increase in the number of home and business foreclosures will result in homelessness for anyone whose debt exceeds his ability to pay—even those who presently appear to be well-off. As numbers rise significantly, a new homeless class will be created amongst the former middle class. As they become more numerous, large scale ownership of property may give way to large scale "possession" of property.
.......Riots. These will likely happen spontaneously due to the above conditions, but if not, governments will create them to justify their desire for greater control of the masses.
.......Martial Law. The US has already prepared for this, with the passing of the 2012 National Defense Authorization Act (NDAA), which many interpret as declaring the US to be a "battlefield." The NDAA allows the suspension of habeas corpus, indefinite detention, and the assumption that any resident may be considered an enemy combatant. Similar legislation may be expected in other countries that perceive martial law as a solution to civil unrest.
The above list is purposely brief—a sampling of eventualities that, should they occur, will almost definitely come unannounced. As the decline unfolds, they will surely happen with greater frequency.
But the value in projecting what the collapsing governments may do to their citizens is not merely an exercise in speculation. By anticipating the likelihood of any of the above, the individual may find that it would be prudent to turn off the game on television tonight and spend his time musing on the possibility of what he would do if any of the above events were to take place. (And, again, these projections are not mere fancy; they are actions typically taken by governments as their declines play out.)
Most importantly, if the reader concludes that there is a significant percentage of likelihood that any of the above are coming his way, he would be well-advised to assess whether they are developments that he feels he could live with. If not, he might wish to assess how much time he has before these events become a reality and what he may do to sidestep their impact on him......
_______________________________
Always remember: It wasn't raining when Noah entered the ark.......