Need a reference source: Imminent Financial Collapse? Move money to?

[jackovesk]

Posted by Dennis Leahy (here)
Most people do not own their homes. They either have not been in them long enough to have paid for them, or they took out a second, or third mortgage for kids' college or a medical emergency, etc.

Soooooo...

I'm thinking anyone with an ARM (adjustable rate mortgage) is standing on the tracks with a bullet train approaching: ARM are based on the prime lending rate, that (I assume) will skyrocket with even a partial financial implosion. Is this correct thinking? (If you cannot immediately pay off your house, switch to a fixed-rate loan?)

Dennis

No, it is NOT the correct thinking Dennis...

ARM Loans are called Variable Rate Loans 'Down Under' and the rates are set by the RBA (Reserve Bank of Australia)...

If anything ARM/Variable Rate Loans will bottom-out and 'Flatline' and it will be 'Hyper-Inflation' that (IS) the Killer...

In Economics, Hyper-Inflation occurs when a country experiences very high and usually accelerating inflation. While the real values of the specific economic items generally stay the same in terms of relatively stable foreign currencies, in hyperinflationary conditions the general price level within a specific economy increases rapidly as the functional or internal currency, as opposed to a foreign currency, loses its real value very quickly, normally at an accelerating rate.[1] Economists usually follow Cagan's description that hyperinflation occurs when the monthly inflation rate exceeds 50%.[2]

Hyperinflation results from a rapid and continuing increase in the supply of money, which occurs when a government prints money or creates credits in bank accounts, instead of collecting taxes to fund government activities.

The price increases that result from increased government spending create a vicious circle, requiring ever increasing amounts of money creation to fund government activities. Hence both monetary inflation and price inflation rapidly accelerate.

Such rapidly increasing prices cause widespread unwillingness of the local population to hold the local currency as it rapidly loses its real value. Instead they quickly spend any money they receive, which rapidly increases the velocity of money flow which causes further acceleration in prices.

Hyperinflation is often associated with wars or their aftermath, political or social upheavals, or other crises that make it difficult for the government to tax the population.

https://en.wikipedia.org/wiki/Hyperinflation

What you have to remember Dennis is the (Fact) that if a Corporation &/or Individual can Crash the Dow Jones by 1,000 points in a Couple of-Minutes, all other scenarios are absolutely pointless...


Dow Jones plunges 1,000 points in one day, possible human error

May 7, 2010



New York - Who saw it coming? Within a time span of five minutes, the Dow Jones Industrial Average dropped nearly 1,000 points on concerns over Greece's debt crisis but what is the primary factor?

In a volatile trading day, the DOW dramatically plunged 997.21 points in five minutes but rebounded near the end of the trading session and closed at 10,520.32, according to the Wall Street Journal Market Watch.

The dive prompted an investigation by the Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC). But what caused the astronomical dive in such a short time frame?

Financial experts say it was Greece’s debt crisis that caused panic in the markets and that markets around the world were declining at a rapid rate before the opening bell on Wall Street. However, according to ABC News, the massive decline could have been a human trading error at Citigroup.

The possible error by Citigroup was supposed to be a $16 million trade on an S&P 500’s futures-linked trade but instead someone entered billions, which prompted an astronomical selloff in shares of Procter & Gamble.

Citigroup has also launched an investigation but has not confirmed reports of a trading error

http://digitaljournal.com/article/291696

Dow Jones Drops 1,000 Points! IT WILL DROP AGAIN EVEN WORSE!!

Source: http://www.youtube.com/watch?v=SKxk7KQN0uE

https://www.youtube.com/watch?v=SKxk7KQN0uE

Now onto what 'Lindsey Williams' NWO Globalist contact revealed at their last discussion:

Posted by jackovesk (here)
Mar 25, 2012

This is Breaking News, recorded live on March 25th on PrisonPlanet.tv, with Alex Jones and Lindsey Williams.

TODAY ON THE ALEX JONES SHOW

On the Sunday edition of the Alex Jones Show, Alex talks with pastor and author Lindsey Williams about the timeline on the financial crash, what currency is a safe bet, and why Obama may not be re-elected due to his involvement in Keystone Pipeline.

Summary:

Finance & Trade

• There will 'Not' be a Financial Collapse during April, May or June...!
• Lindsey reiterated: 'By the end of 2012 the $USD will be 'Dead'..!
• Don't pay any attention to the New York Stock Market - It means nothing..!
• 2 Months ago China & Japan signed the Largest ever 'Trade Agreement' in the history of the world, saying they would trade amongst themselves and the would 'Not' be using the $USD..!
• India signed an 'Agreement' to buy $1 Million Barrels of oil per day and pay Iran in 'Gold' 'Not' the $USD..!
• Saudi Arabia has 'Betrayed' America by building the Largest ever Oil Refinery in Saudi Arabia to supply China with Oil and they too will 'Not' be using the $USD for payment..!
• Hence the 'Collapse' of the Petro $USD is enevitable..!
• The reason the 'Elite' have 'Not Allowed' the $USD &/or the Financial System of the World to collapse yet is because they want every Nation in the World to 'Max Out' their 'Debt' before they pull the plug..!
• Why do you think ALL the Govts. of the Worldare getting their respective Country's into so much DEBT..!
• WallStreet Insider: Tom Fyler as told of How the Elite's/NWO were going to 'Bring Down' the Financial System 20 years Ago by using 'Derivitives' as an 'Economic Weapon' and was told 'Not' to tell anyone..!

Derivatives

DON'T PAY ANY ATTENTION TO: New York Sock Exchange, EURO, Crude Oil Prices (The Indicator as to 'WHEN' the Financial Collapse will take place) is when the 'DERIVATIVE' Market begins to 'Crack'..!

War

At the moment 'No Need' to pay any attention to the Iranian 'War Propoganda, Obama may use it at the least minute e.g. nearing the US Elections if he has to..?

Keystone Oil Pipeline

Remember Obama said he was going to make a decision on the 'Keystone Pipeline' on a certain date. He did'nt he waited 2 weeks! (WHY?) He finally said its not in the benefit of America to do this (which cost 1,000s of Jobs together with $Billions of Lost Revenue)..!

The Liberty Rig on Gull Island that Lindsey mentioned in his book 'Energy Non Crisis' 35 years ago was meant to come online in the summer of 2013 and Obama has prevented the constructruction of the Keystone Pipeline which will not allow the Oil to flow..!

Lindsey Quote: "The Oil Fields of Gull Island is the 'MotherLoad' of all the World's Oil fields and the 'Elite' must bring that Oil out and the 'Elite' were depending on the Keystone Pipeline to get it to market..!"

Monday, August 29, 2011

Liberty Oil Rig GULL ISLAND !!

After years of planning and preparation, sometime this year a drill bit will augur its way into the ground towards BP's Liberty oil field offshore Alaska's North Slope. The drill bit, attached to a massive drilling rig, will test the limits of how far it is possible to drill from a surface well site to penetrate a distant oil reservoir in the deep subsurface. Pastor Lindsey Williams discussed this in a recent conversation with his Mr X . which proves that indeed Mr X was right.

Source: http://www.youtube.com/watch?v=kKo_Nb0KmZM

http://www.youtube.com/watch?v=kKo_N...layer_embedded

http://lindseywilliams101.blogspot.c...ll-island.html

Obama

Lindsey then spoke with his 'Elite Source' and asked him Why? did Obama Cancel Out the Keystone Pipeline to be built across Canada? The Elite Source Angrily replied "Because Obama is a 'Muslim' and the Elite may 'Not' allow Obama a 2nd Term because of it..!

Obama has 'Double Crossed' the Elite in favour of the 'Muslim Brotherhood' and is in (BIG, BIG, TROUBLE)..! He may not get re-elected because of it..! Why then did Obama do it, Lindsey asked his Source.? The 'Muslim Bretheren' gave him $Millions in Campaign Donations 3 years ago and is (Counting On) more Donations from them this year..!

Lindsey 'Clarified' this with his 'Elite Source' and the 'Elite' are absolutely 'LIVID' with Obama..!

Timeline to America's Total Destruction with Pastor Lindsey Williams

Source: http://www.youtube.com/watch?v=uDppA3mMBas

http://www.youtube.com/watch?v=uDppA...1&feature=plcp

http://projectavalon.net/forum4/show...ndsey+Williams

PS - As far as I'm concerned, People can choose to ignore the warnings 'above' at their own peril...

PSS -

DON'T PAY ANY ATTENTION TO: New York Sock Exchange, EURO, Crude Oil Prices (The Indicator as to 'WHEN' the Financial Collapse will take place) is when the 'DERIVATIVE' Market begins to 'Crack'..!

...any 'Signs' yet jackovesk that the 'Derivative Bubble' is about to burst..?

Yeh, just a couple...

How Your Bank Account Could Disappear
http://philosophers-stone.co.uk/word...uld-disappear/

Definition of 'Rehypothecation'
The practice by banks and brokers of using, for their own purposes, assets that have been posted as collateral by their clients. Clients who permit rehypothecation of their collateral may be compensated either through a lower cost of borrowing or a rebate on fees.

http://www.investopedia.com/terms/r/...#axzz20KKCyHP0

MF Global was a warning shot, and the CFTC missed it entirely
http://www.zerohedge.com/category/tags/mf-global

Iowa broker PFGBest collapses after hiding millions
http://news.yahoo.com/iowa-broker-pf...9--sector.html

The 'Derivative' Debacle

• Another Domino Falls in the LIBOR Banking Scam: Royal Bank of Scotland
• JPMorgan Complicit In Vatican Bank Money-Laundering
• Webster Tarpley: Moodys Downgrades Insolvent World Banks
• JPMorgan Chase Gets $14 Billion Per Year In Government Subsidy: Study
• Derivatives For Dummies
• Realtime-Paul Craig Roberts – Collapse At Hand
• RealTime Financial-World-Panic – “The End Game: 2012 And 2013 Will Usher In The End” – The Scariest Presentation Ever?
• As An Encore to Bailing Out the Big Banks, Government to Backstop Derivatives Clearinghouses … In the U.S. and Abroad
• Dimon Suggests That Billions Lost in Derivatives Fraud is Standard Banking Practice
• The 2 Billion Dollar Loss By JP Morgan Is Just A Preview Of The Coming Collapse Of The Derivatives Market

All these articles (and More) can be found on the link below...

http://philosophers-stone.co.uk/word...?s=Derivatives

[joamarks]

you can also buy some bitcoins. no inflation on the digital world. (as long as a sunflare doesn't bring down the whole earth electrical grid )

[gripreaper]

[Dennis Leahy]

Posted by jackovesk (here)

On the Sunday edition of the Alex Jones Show, Alex talks with pastor and author Lindsey Williams about the timeline on the financial crash, what currency is a safe bet, and why Obama may not be re-elected due to his involvement in Keystone Pipeline.

Finance & Trade

• Lindsey reiterated: 'By the end of 2012 the $USD will be 'Dead'..!

Keystone Oil Pipeline

Remember Obama said he was going to make a decision on the 'Keystone Pipeline' on a certain date. He did'nt he waited 2 weeks! (WHY?) He finally said its not in the benefit of America to do this (which cost 1,000s of Jobs together with $Billions of Lost Revenue)..

...

Lindsey Quote: "The Oil Fields of Gull Island is the 'MotherLoad' of all the World's Oil fields and the 'Elite' must bring that Oil out and the 'Elite' were depending on the Keystone Pipeline to get it to market..!"

...

Obama

Lindsey then spoke with his 'Elite Source' and asked him Why? did Obama Cancel Out the Keystone Pipeline to be built across Canada? The Elite Source Angrily replied "Because Obama is a 'Muslim' and the Elite may 'Not' allow Obama a 2nd Term because of it..!

Obama has 'Double Crossed' the Elite in favour of the 'Muslim Brotherhood' and is in (BIG, BIG, TROUBLE)..! He may not get re-elected because of it..! Why then did Obama do it, Lindsey asked his Source.? The 'Muslim Bretheren' gave him $Millions in Campaign Donations 3 years ago and is (Counting On) more Donations from them this year..!

Lindsey 'Clarified' this with his 'Elite Source' and the 'Elite' are absolutely 'LIVID' with Obama..!


...

A lot of good info, thanks Jackovesk.

I do think Lindsey Williams really damaged his credibility with the thing about the Muslim Brotherhood. That clashes pretty strongly with the AIPAC / Zionist faction of Israel having strong control (as do Zionist international bankers) over the US presidency. I also don't believe Obomber is a Muslim, (or a Christian either), but rather worships power and money - and does what he is told by the Financial Elite. Obama did not decide in his own little head to stop/postpone the Keystone pipeline - he must have been told to do it.

Oh, and the local area in my State is under heavy attack by the filthiest mining industry (open pit sulfide mining) that want to create a mine near the Boundary Waters Canoe Area Wilderness and the largest body of fresh water in the world (Lake Superior.) Their biggest psychological ammo? JOBS!

Jobs are temporary. (Non-nuclear) environmental destruction requires decades or centuries to normalize. Northern Minnesota ("Land of 10,000 Lakes"), and home to a $3 Billion tourist industry based on fishing and wilderness canoeing, would NEVER have even agreed to talk with Polymet/Glencore about a filthy sulfide mine until and unless jobs were scarce. I think the same is true for all the "fracking" and resulting aquifer destruction going on. Seems like part of the Financial Elite's plan to me.

I'm not sure what the real reason is that the Keystone Pipeline was put on a back burner, but I'm confident it was not Obama's decision. Mr X sounds like an Islamaphobic oil man to me, so, in my book, Lindsay Williams' prediction lost its credence.

Like I said though, you've given me quite a bit of good info (I'm just filtering that one thing out.)

Dennis

[Hermite]

Oh, Dennis, that is awful. An open pit mine by the Boundary Waters. I hadn't heard about that one.

About the pipeline, though, you might want to read this article. http://thehill.com/blogs/e2-wire/e2-...e-highway-bill
I'm sure it will finally get approval, in spite of the habitat destruction and health threats to us little people. I sure hope someone comes up with some better ideas soon. Ah well, hang in, hang on.

[Bill Ryan]

Posted by Dennis Leahy (here)
This is not "financial news", but rather a request for financial news.

I need one or two sources that I can offer to friends and family to quickly "clue them in" to

a.) the scope of the global financial derivatives "Hindenburg" floating over our heads and its implications of imminent financial collapse

and

b.) sound financial advice on what is the smartest thing to do with their life savings right now, before a financial collapse.

Where (what web site) do I send people to?

Dennis

Hi, Dennis: I've only just reached this thread.

Try this...

http://projectavalon.net/resources/A...al_chapter.pdf

...A must-read final chapter of the book AFTERSHOCK by economist Robert Weidemar, predicting catastrophic economic collapse in 2012. This unpublished chapter was so hard-hitting that the publishers actually omitted it from several editions of the book.

[Rantaak]

Posted by Dennis Leahy (here)
This is not "financial news", but rather a request for financial news.

I need one or two sources that I can offer to friends and family to quickly "clue them in" to

a.) the scope of the global financial derivatives "Hindenburg" floating over our heads and its implications of imminent financial collapse

and

b.) sound financial advice on what is the smartest thing to do with their life savings right now, before a financial collapse.

Where (what web site) do I send people to?

Dennis

You have about one week to move everything out of any and all Europe-based banks with the exception of Switzerland and Deutschebank.

[Arrowwind]

It may be a good time to buy silver as it is down to $25 and I dont think it will go much lower.
Invest in land, tools, food storage, medical supplies.

[Rocky_Shorz]

well the arms that collapsed the banking system were set against the Libor...

now we find it was manipulated to make the situation far worse to cause the collapse.

who is behind the insanity?

the persons who set the Libor rate...

Libor should be set to what banks pay for interest on deposits, nothing else is real...

[joamarks]

hello dennis,

another thing how you can win the attention of your friends and family is telling them about people who are claiming their sovereignty and keep the land or house they own.

Source: http://www.youtube.com/watch?v=qZs01VDhjuM

this guy tells about how to survive a bankruptcy of the government by putting all your assets in a trust.
how we can create our own bank.

claiming your sovereignty is a practical tool to gain power and spirit back from government to become a free individual

in Holland we also have a growing group of people claiming their sovereignty with success.

[trenairio]

Bernanke does not expect a double dip recession

http://www.marketwatch.com/story/ber...MW_latest_news

The economy is way too complex and most of us can only get a general grasp of what's going on. I'll have to look at these links from "qualified" individuals.

A double dip recession may happen because:
a) the new European Central Bank
b) expired bush tax cuts at the end of 2012
[post update]
c)the bond market "bubble"

I'll really have to look more into this and check back later...

[Cognitive Dissident]

Charles Hugh Smith has an excellent economic/political/deep thinking blog at http://www.oftwominds.com/blog.html

It is a must read, along with Zero Hedge.

[alamojo]

Dennis, this is a great thread, thanks for starting it.

The problem is, we don't know exactly what will happen, or when. No one does. The investment newsletter I subscribe to (Early Warning Report) suggests that the majority of your savings follow Harry Browne's "Fail Safe Investing" book strategy. It's basically 25 percent in each of: cash, precious metals, bonds, and stocks (index funds like S&P 500, not individual stocks).

The mutual fund PRPFX follows this strategy, check out it's historical charts. You will not get rich with this strategy, the goal is to preserve as much of it as you can in the hard times.

Read Harry's book, it's a quick read.

[Dennis Leahy]

Gotta say, I am very, very leery of advice from any of the "mainstream" guys, and prefer true independents. I wish I knew for sure who was paying each financial adviser's paycheck (and bonuses, and under-the-table money...) I'm sure some of the mainstream guys have a very good concept of what is really going on, but if they are professionally compromised, will they tell us the truth or what their benefactor wants them to say?

I'm also leery of anyone - right now, with the world financial climate the way it is - offering advice that sounds like solid financial advice - if only it was 1957.

Dennis

[Mulder]

Consider this article from infowars.com: http://www.infowars.com/peter-schiff...ly-got-to-buy/

and the video:

Source: http://www.youtube.com/watch?v=GU3LKlKOzUg

[alamojo]

Posted by Dennis Leahy (here)
Gotta say, I am very, very leery of advice from any of the "mainstream" guys, and prefer true independents. I wish I knew for sure who was paying each financial adviser's paycheck (and bonuses, and under-the-table money...) I'm sure some of the mainstream guys have a very good concept of what is really going on, but if they are professionally compromised, will they tell us the truth or what their benefactor wants them to say?

I'm also leery of anyone - right now, with the world financial climate the way it is - offering advice that sounds like solid financial advice - if only it was 1957.

Dennis

Dennis, I guess this is in response to my comments? Early Warning Report is certainly not mainstream, it's pretty "out there".

Sample newsletter: http://www.chaostan.com/sampleewr2011.html

This seems to be a rather bizarre comment: I'm also leery of anyone - right now, with the world financial climate the way it is - offering advice that sounds like solid financial advice - if only it was 1957.

What ARE you looking for??

Investing is gambling, trying to predict the future. If you're looking for a sure thing, it does not exist. We will all lose money in the next few years; some will lose a lot. I suggest you look for safety (ie. capital preservation), which was the point of my post.

[Camilo]

The man who predicted the 2008 crash, as well as the major dead cat bounce that followed in March of 2009 (predicted to the very day markets would turn) has a new rash of warnings surrounding the global financial crisis.

“Somewhere down the line we will have a massive wealth destruction. That usually happens either through very high inflation or through social unrest or through war or credit-market collapse.” And as if to punctuate his message, in Barron’s recent “Midyear Roundup,” Faber was asked, “Will things get worse before they get better?”

Answer: “Yes, possibly much worse,” adding “most markets peaked in May 2011.” He expects “further weakness in the second half of the year. Corporate profits will disappoint … stock markets are oversold. The U.S. government-bond market is overbought. The U.S. dollar is overbought, and gold is oversold near term.” Worse, he’s “very negative about the outlook longer term.”

In spite of his doom and gloom about America and the world economy, when pressed Faber did recommend some China REITs. And waffled a bit on America: “It is safest to buy U.S. Treasurys because the U.S. can print money” and “pay the interest. But you are earning only 1.6%, and the cost of living is increasing by about 5% a year around the world. You are getting a negative real return.”

Not very promising in today’s uncertain world, where the American elections are unlikely to solve the economy’s core jobs problem, no matter who wins in November.

So when comes the change? “Down the line.” “The breaking point could be three, four, five years away. The world is heading toward a major crisis.”

OK, he hedges his bet on timing. But he’s very clear on how and why: The collapse will be “caused by Federal Reserve Chairman Ben Bernanke and the Federal Reserve’s continuous printing of new money.” The “bailout and money printing” since the 2008 Wall Street Crash did not “create any long-lasting wealth or create healthy growth.” Nor will the next president. So investors must hedge longer-term bets.
New crash coming before Bernanke leaves Fed by early 2014

The next “collapse will come on Bernanke’s watch.” Warning to investors: Bernanke’s second four-year term as chairman of the Fed ends Jan. 31, 2014. (He will remain a board member until 2020.)

Get it? There will be another crash. The crash will ignite before 2014 when Bernanke’s term ends. The crash will be worse than 2008. Bernanke will be the cause. He will be clueless about the unintended consequences of his policies (like his predecessor Alan Greenspan, who ultimately had to admit to Congress “I really didn’t get it until very late.”)

Bernanke’s no different. When reappointed in 2010, “Black Swan” author Nicholas Taleb said Bernanke “doesn’t even know that he doesn’t understand how things work.”

Unfortunately, since Wall Street simply went back to business as usual after the 2008 Crash, fighting all reforms, a new crash is not only easy to predict in the 2013-2014 period, we can also predict that it will be far more deadly for Wall Street banks, the American economy, taxpayers, investors, consumers and retirees.
Guess what? Many ‘Dr. Dooms’ predicted 2008 crash

Why so easy to predict? Because we’re repeating all the same dumb and dumber mistakes we did in the year leading up to the 2008 crash. The Fed’s cheap money policies have favored banks, devaluing the dollar, destroying the value of stocks, fueling inflation, triggering job losses and social unrest. In short, the happy conspiracy between the Fed and Wall Street is suicidal and will take down the rest of America with it.

Same mistakes? You bet. In mid-June 2008 just before the collapse we listed several years of warnings about a coming global economic and market crash. And they were not just a ragtag bunch of “Dr. Dooms.” Read the whole list of who was predicting the meltdown of 2008, a “Who’s Who” of American leaders in finance, business and government.

Here’s a selection of the warnings of a crash coming, all made years before the 2008 global meltdown … Two Fed Governors beginning in 2000 … then in 2004, former Secretary of Commerce Pete Peterson … hedge fund managers like Rodriguez and Soros ... in 2005, economist Nouriel Roubini and the IMF’s Chief Economist, Raghuram Rajan … also a Special Report in the Economist on the 75% appreciation in global real estate in just five years … in 2006 Texas billionaire Rainwater warned us in Fortune; collapse warnings from Faber, from economist Gary Shilling in Forbes, also bond king Bill Gross, and Warren Buffett in Fortune … and a Harpers special on coming collapse in real estate … then in August 2006, the new Treasury Secretary Hank Paulson privately warned Bush’s staff at Camp David ... in 2007, more warnings, from money manager Jeremy Grantham, economist Gary Shilling in his Insight Newsletter and former SEC Chairman Arthur Levitt in the Wall Street Journal … at the same time our new Treasury Secretary was quoted in Fortune: “Strongest economy in my lifetime.”
How can investors prepare for the coming crash of 2013?

So what an investor to do? Start by lowering your expectations. Then look with enormous skepticism on any returns that exceed roughly five percentage points over the inflation rate. And stop listening to happy talkers, Wall Street hustlers and cable’s talking heads.

Remember, their advertisers need you to keep chasing hot stocks and the hottest sectors hyped in the press. That’s a bad strategy given the big risks dead ahead.

But that’s not enough. Here’s your No. 1 strategy: “The critical question over the next decade isn’t ‘Where will my returns be highest’?” warns Faber. Instead, ask: “Where will I lose the least money?”

Get it? Invest to lose the least money. Yes, capital preservation. That’s also Uncle Warren Buffett’s “rule No. 1.” And it should be your rule No. 1 for the rest of this decade: “Never lose money.”

Stop chasing today’s hottest deals, ignore this week’s most-talked-about analysts recommends, your broker’s sure bets, the next IPO. We know you’re unhappy with “new normal” returns under 10%, but chase them and you’ll lose more.

Instead, wake up and be a smart investor. Analyze every investment. Pick the ones most likely to “lose the least amount of money.” We’re in for some scary years ahead. And capital preservation has to be your one and only game. Deviate and you lose.
Need whole new mind-set. Why? Optimism is a portfolio killer

Many of you are contrarians, free-market individualists and macho traders who will think Faber is just another crackpot “Dr. Doom.” And that all those many other warnings between 2000 and 2007 were just lucky guesses by perennial Doomsday Cassandras and Chicken Littles “crying wolf” one time too many.

Ignore warnings at your peril. Remember the catastrophic $10 trillion-plus market losses after the 2000 dot-com crash? Another multitrillion loss after the 2008 meltdown? In all, Wall Street lost an inflation-adjusted 20% of America’s retirement money through that decade.

Imagine Wall Street banks in virtual bankruptcy, again, like 2008, begging Congress for yet another bailout, as America sinks into a longer double-dip recession.

Warning, next time there will be no trillion-dollar giveaways, like Paulson and Geithner did with our too-big-to-fail banks during the 2008 meltdown. We’re already hearing grumblings about the J.P. Morgan Whale and the Libor scandals. More is ahead. Banks are too-big-to-manage, will fail. Expect government to extract a heavy price in the next bailout. Assuming politicians and the public are willing to add another $29.7 trillion debt.

Recently Faber warned that our brains are our worst enemies, captured in one word: overconfidence. Check out his GloomBoomDoom.com site: Investors are “deeply asleep at the switch.” Investors feed on happy talk. Investors minimize warnings, hard facts and the truth: “My experience has been that most investors (including myself) who lose money fail because of overconfidence … convinced that an investment will be highly profitable and seldom consider that they could be wrong.”

Both Wall Street and Main Street investors invariable don’t wake up … till it’s too late.

Final warning: Remember Dr. Doom’s Rule One: “Invest where you’ll lose the least amount of money!” Why? Because “massive wealth destruction is coming.” A time when “the rich may lose up to 50% of their total wealth.” With Bernanke the trigger.

By Paul B. Farrell, MarketWatch

[Connecting with Sauce]

This is great weekly info...
http://www.oneradionetwork.com/the-r...oney-articles/

some other good shows there too...

[rmauersr]

Paul Craig Roberts, Assistant Treasury Secretary during the Reagan administration, has the unique ability to explain the financial collapse so that even I can almost understand it. The collapse was caused by deregulation. (He did not talk like he was familiar with conspiracy theories addressed on this forum ) Libor fraud is now part of the system. Fraud is used by the banks and the government to keep interest rates low to put off the inevitable collapse for a little longer.

The only solution offered was to reinstate Glass-Steagall to fix long term problems. But that does not fix the short term issues. Meanwhile more money will be printed (hyper inflation) in an attempt to delay the collapse. I suppose that will allow those who understand the problem and who are willing to act, some time to reposition themselves.

My question is: If the short term issues are not fixed, will the system be around long enough to benefit from a reinstated Glass-Steagal? I don't think so. Something will arise from the ashes but I have no idea what it will be.

Being a person who likes simple solutions, the only things I can see to ease the stress of financial collapse are to stay away from the cities, establish a small footprint closer to nature, garden, store food, establish multiple resources for water and have a wood stove. That is a minimum.

Precious metals are only useful if there is a system remnant where coins can purchase needed commodities. That may take years to develop. Anyone remember Pete Peterson's comment about trading a loaf of bread for one gold coin if the grocery stores are closed? If one has sufficient financial resources remaining after completing preparation for financial collapse (maybe impossible) then precious metals can protect what was not needed for preparation.

Source: http://www.youtube.com/watch?v=Z3CEnIKui0k

[Virgo]

the reference to "are you sovereign yet..." is outstanding.