Economic Collapse Not A Conspiracy Theory Billionaire Tells Americans To Prepare For ‘Financial Ruin’ By Newsmax Wires Jul 02 2014 The United States could soon become a largescale Spain or Greece, teetering on the edge of financial ruin. That’s according to Donald Trump, who painted a very ugly picture of where this country is headed. Trump made the comments during a recent appearance on Fox News’ “On the Record with Greta Van Susteren.” According to Trump, the United States is no longer a rich country. “When you’re not rich, you have to go out and borrow money. We’re borrowing from the Chinese and others. We’re up to $16 trillion in debt.” He goes on to point out that the downgrade of U.S. debt is inevitable. “We are going up to $16 trillion [in debt] very soon, and it’s going to be a lot higher than that before he gets finished. When you have [debt] in the $21-$22 trillion, you are talking about a downgrade no matter how you cut it.” Ballooning debt and a credit downgrade aren’t Trump’s only worries for this country. He says that the official unemployment rate of 8.2 percent “isn’t a real number” and that the real figure is closer to 15 percent to 16 percent. He even mentioned that some believe the unemployment rate to be as high as 21 percent. “Right now, frankly, the country isn’t doing well,” Trump added, “Recession may be a nice word.” While 15 percent to 16 percent unemployment, a looming credit downgrade, and ballooning debt are a
bleak outlook for the United States, they are hardly as alarming as the scenario laid out by another economist. Without earning celebrity status or having his own television show, Robert Wiedemer did something else that grabbed headlines across the country: He accurately predicted the economic collapse that almost sank the United States. In 2006, Wiedemer and a team of economists foresaw the coming collapse of the U.S. housing market, equity markets, private debt, and consumer spending, and published their findings in the book America’s Bubble Economy. But Wiedemer’s outlook for the U.S. economy today makes Trump’s observations seem almost optimistic. Where Trump sees ballooning debt and a credit downgrade, Wiedemer sees much more widespread economic destruction. In a recent interview for his newest book Aftershock, Wiedemer says, “The data is clear, 50% unemployment, a 90% stock market drop, and 100% annual inflation . . . starting in 2012.” When the host questioned such wild claims, Wiedemer unapologetically displayed shocking charts backing up his allegations, and then ended his argument with, “You see, the medicine will become the poison.” The interview has become a wake-up call for those unprepared (or unwilling) to acknowledge an ugly truth: The country’s financial “rescue” devised in Washington has failed miserably. The blame lies squarely on those whose job it was to avoid the exact situation we find ourselves in, including current Federal Reserve Chairman Ben Bernanke and former Chairman Alan Greenspan, tasked with preventing financial meltdowns and keeping the nation’s economy strong through monetary
and credit policies. At one point, Wiedemer even calls out Bernanke, saying that his “money from heaven will be the path to hell.” But it’s not just the grim predictions that are causing the sensation; rather, it’s the comprehensive blueprint for economic survival that’s really commanding global attention. The interview offers realistic, step-by-step solutions that the average hard-working American can easily follow. The overwhelming amount of feedback to publicize the interview, initially screened for a private audience, came with consequences as various online networks repeatedly shut it down and affiliates refused to house the content. Bernanke and Greenspan were not about to support Wiedemer publicly, nor were the mainstream media. “People were sitting up and taking notice, and they begged us to make the interview public so they could easily share it,” said Newsmax Financial Publisher Aaron DeHoog, “but unfortunately, it kept getting pulled.” “Our real concern,” DeHoog added, “is what if only half of Wiedemer’s predictions come true? “That’s a scary thought for sure. But we want the average American to be prepared, and that is why we will continue to push this video to as many outlets as we can. We want the word to spread.”
18 Signs That The Global Economic Crisis Is Accelerating As We Enter The Last Half Of 2014 by MICHAEL SNYDER | ECONOMIC COLLAPSE | JULY 1, 2014
Perilous times on the horizon A lot of people that I talk to these days want to know “when things are going to start happening”. Well, there are certainly some perilous times on the horizon, but all you have to do is open up your eyes and look to see the global economic crisis unfolding. As you will see below, even central bankers are issuing frightening warnings about “dangerous new asset bubbles” and even the World Bank is declaring that “now is the time to prepare” for the next crisis. Most Americans tend to only care about what is happening in the United States, but the truth is that serious economic trouble is erupting in South America, all across Europe and in Asian powerhouses such as China and Japan. And the endless conflicts in the Middle East could erupt into a major regional war at just about any time. We live in a world that is becoming increasingly unstable, and people need to understand that the period of relative stability that we are enjoying right now is extremely vulnerable and will not last long. The following are 18 signs that the global economic crisis is accelerating as we enter the last half of 2014… #1 The Bank for International Settlements has issued a new report which warns that “dangerous new asset bubbles” are forming which could potentially lead to another major financial crisis. Do the central bankers know something that we don’t, or are they just trying to place the blame on someone else for the giant mess that they have created? #2 Argentina has missed a $539 million debt payment and is on the verge of its second major debt default in 13 years. #3 Bulgaria is desperately trying to calm down a massive run on the banks that threatens of spiral out of control. #4 Last month, household loans in the eurozone declined at the fastest rate ever recorded. Why are
European banks holding on to their money so tightly right now? #5 The number of unemployed jobseekers in France has just soared to another brand new record high. #6 Economies all over Europe are either showing no growth or are shrinking. Just check out what a recent Forbes article had to say about the matter… Italy’s economy shrank by 0.1% in the first three months of 2014, matching the average of the three previous quarters. After expanding 0.6% in Q2 2013, France recorded zero growth. Portugal shrank 0.7%, following positive numbers in the preceding nine months. While figures weren’t available for Greece and Ireland in Q1, neither country is showing progress. Greek GDP dropped 2.5% in the final three months of last year, and Ireland limped ahead at 0.2%. #7 A few days ago it was reported that consumer prices in Japan are rising at the fastest pace in 32 years. #8 Household expenditures in Japan are down 8 percent compared to one year ago. #9 U.S. companies are drowning in massive amounts of debt, but the corporate debt bubble in China is so bad that the amount of corporate debt in China has actually now surpassed the amount of corporate debt in the United States. #10 One Chinese auditor is warning that up to 80 billion dollars worth of loans in China are backed by falsified gold transactions. What will that do to the price of gold and the stability of Chinese financial markets as that mess unwinds? #11 The unemployment rate in Greece is currently sitting at 26.7 percent and the youth unemployment rate is 56.8 percent. #12 67.5 percent of the people that are unemployed in Greece have been unemployed for over a year. #13 The unemployment rate in the eurozone as a whole is 11.8 percent - just a little bit shy of the alltime record of 12.0 percent. #14 The European Central Bank is so desperate to get money moving through the system that it has actually introduced negative interest rates. #15 The IMF is projecting that there is a 25 percent chance that the eurozone will slip into deflation by the end of next year. #16 The World Bank is warning that “now is the time to prepare” for the next crisis.
#17 The economic conflict between the United States and Russia continues to deepen. This has caused Russia to make a series of moves away from the U.S. dollar and toward other major currencies. This will have serious ramifications for the global financial system as time rolls along. #18 Of course the U.S. economy is struggling right now as well. It shrank at a 2.9 percent annual rate during the first quarter of 2014, which was much worse than anyone had anticipated. But if U.S. economic numbers look a bit better for the second quarter, that doesn’t mean that we are out of the woods. As I have stressed so many times, the long-term trends and the long-term balance sheet numbers are far, far more important than the short-term economic numbers. For example, if you went to the mall today and spent a thousand dollars on candy and video games, your short-term “economic activity” would spike dramatically. But your long-term financial health would take a significant turn for the worse. Well, when we are talking about the health of the U.S. economy or the entire global financial system we need to keep the same kinds of considerations in mind. As for the United States, whether the level of our debt-fueled short-term economic activity goes up a little bit or down a little bit is not what is truly important. Rather, the fact that we are nearly 60 trillion dollars in debt as a society is what really matters. The same thing applies for the globe as a whole. Right now, the citizens of the planet are more than 223 trillion dollars in debt, and “too big to fail” banks around the world have at least 700 trillion dollars of exposure to derivatives. So it doesn’t really matter too much whether the short-term economic numbers go up a little bit or
down a little bit right now. The whole system is an inherently flawed Ponzi scheme that will inevitably collapse under its own weight. Let us hope that this period of relative stability lasts for a while longer. It is a good thing to have time to prepare. But you would have to be absolutely insane to think that the biggest debt bubble in the history of the world is never going to burst.
The BRICS Are Morphing Into An Anti-Dollar Alliance by ZERO HEDGE | JULY 3, 2014
The ongoing de-dollarization of the world While numerous massively indebted administrations around the world hope to divert the attention of what’s left of their struggling middle class away from its daily impoverished existence and distract it with flashing lights and glitzy animations showing another all time market high on a daily basis, a significantly more important shift taking place behind the scenes is appreciated by very few: the ongoing de-dollarization of the world. For the latest example of how increasingly more countries are setting the stage for the final currency war, we go again to Russia where VOR’s Valentin Mândr??escu explains that slowly but surely the BRICS – that proud Goldman acronym which was conceived to perpetuate the great American way of life by releasing trillions in USdenominated debt in heretofore untapped markets – are morphing into an anti-dollar alliance. BRICS is morphing into an anti-dollar alliance, From VOR Before the crucial visit to Beijing next week, the governor of the Russian Central Bank, Elvira Nabiullina met Vladimir Putin to report on the progress of the upcoming ruble-yuan swap deal with the People’s Bank of China and Kremlin used the meeting to let the world know about the technical details
of its international anti-dollar alliance. On June 10th, Sergey Glaziev, Putin’s economy advisor published an article outlining the need to establish an international alliance of countries willing to get rid of the dollar in international trade and refrain from using dollars in their currency reserves. The ultimate goal would be to break the Washington’s money printing machine that is feeding its military-industrial complex and giving the US ample possibilities to spread chaos across the globe, fueling the civil wars in Libya, Iraq, Syria and Ukraine. Glaziev’s critics believe that such an alliance would be difficult to establish and that creating a non-dollar-based global financial system would be extremely challenging from a technical point of view. However, in her discussion with Vladimir Putin, the head of the Russian central bank unveiled an elegant technical solution for this problem and left a clear hint regarding the members of the anti-dollar alliance that is being created by the efforts of Moscow and Beijing: “We’ve done a lot of work on the ruble-yuan swap deal in order to facilitate trade financing. I have a meeting next week in Beijing”, she said casually and then dropped the bomb: “We are discussing with China and our BRICS parters the establishment of a system of multilateral swaps that will allow to transfer resources to one or another country, if needed. A part of the currency reserves can be directed to [the new system].” (Prime news agency) It seems that Kremlin chose the all-in-one approach for establishing its anti-dollar alliance. Currency swaps between the BRICS central banks will facilitate trade financing while completely bypassing the dollar. At the same time, the new system will also act as a de facto replacement of the IMF, because it will allow the members of the alliance to direct resources to finance the weaker countries. As an important bonus, derived from this “quasi-IMF” system, the BRICS will use a part (most likely the “dollar part”) of their currency reserves to support it, thus drastically reducing the amount of dollarbased instruments bought by some of the biggest foreign creditors of the US. Skeptics will surely claim that a BRICS-based anti-dollar alliance will not manage to deprive the dollar of its global reserve currency status. Instead of arguing against this line of thought, it is easier to point out that Washington is doing its best to enlarge the ranks of the enemies of the dollar. Asked by the Russia 24 channel to comment on Nabiullina statements, Sergey Kostin, the president of the stateowned VTB bank and one of the staunchest supporters of anti-dollar policies, offered an interesting perspective on the situation in Europe: “I think the work on ruble-yuan swap line will finalized in the nearest future and the way for ruble-yuan settlement will be open. Moreover, we are not the only ones with such initiatives. We know about the statements made by Mr. Noyer, chairman of the Bank of France. As a retaliation for what Americans have done to BNP Paribas, he opined that the trade with China must be done in yuan or euro.” If the current trend continues, soon the dollar will be abandoned by most of the significant global economies and it will be kicked out of the global trade finance. Washington’s bullying will make even
former American allies choose the anti-dollar alliance instead of the existing dollar-based monetary system. The point of no return for the dollar may be much closer than it is generally thought. In fact, the greenback may have already past its point of no return on its way to irrelevance. Billionaire Tells Americans to Prepare For 'Financial Ruin' VIDEO BELOW http://www.moneynews.com/Outbrain/Trump-Aftershock-AmericanEconomy/2012/11/06/id/462985/ Fiat Empire: Why The Federal Reserve Violates The U.S. Constitution VIDEO BELOW http://www.youtube.com/watch?v=5K41O2QfpjA Money, Banking and the Federal Reserve VIDEO BELOW http://www.youtube.com/watch?v=YLYL_NVU1bg US Debt Crisis Explained VIDEO BELOW https://www.youtube.com/watch?v=Jjv-MtGpj2U
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