The Beginning Of The End
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21 Signs That This Could Be A Long, Hot, Crazy Summer For The Global Financial System

The summer of 2012 is shaping up to be very similar to the summer of 2008.  Things look incredibly bleak for the global economy right now.  Economic activity and lending are slowing down all over the planet, and fear is starting to paralyze the entire global financial system.  Things did not look this bad back in the summer of 2011 and things certainly did not look this bad back in the summer of 2010.  It is almost as if a "perfect storm" is brewing.  Today, the global financial system is a finely balanced pyramid of risk, debt and leverage.  Such a system requires a high degree of confidence and stability.  But when confidence disappears and fear and panic take over, the house of cards can literally start collapsing at any time.  Right now we are watching a slow-motion train wreck unfold and nobody seems to know how to stop it.  Unless some kind of a miracle happens, things are going to look much different when we reach the start of 2013 than they do today.

The following are 21 signs that this could be a long, hot, crazy summer for the global financial system....

#1 There are rumors that major financial institutions are cancelling employee vacations in anticipation of a major financial crisis this summer.  The following are a couple of tweets quoted in a recent article by Kenneth Schortgen Jr....

Todd Harrison tweet: Hearing (not confirmed) @PIMCO asked employees to cancel vacations to have "all hands on deck" for a Lehman-type tail event. Confirm?

Todd M. Schoenberger tweet: @todd_harrison @pimco I heard the same thing, but I also heard the same for "some" at JPM. Heard it today at a hedge fund luncheon.

As Schortgen points out, these are not just your average Twitter users....

Todd Harrison is the CEO of the award winning internet media company Minyanville, while Todd Shoenberger is a managing principal at the Blackbay Group, and an adjunct professor of Finance at Cecil College.

#2 The Bank for International Settlements is warning that global lending is contracting at the fastest pace since the financial crisis of 2008.

#3 Unemployment in the eurozone has hit a brand new all-time record high.

#4 The government of Portugal has just announced that it will be bailing out three major banks.

#5 Many U.S. banking stocks are being hit extremely hard.  For example, Morgan Stanley stock has declined by 40 percent over the past four months.

#6 Yields on Spanish debt and yields on Italian debt have been absolutely soaring.

#7 10 year U.S. Treasury notes hit a record low on Friday because investors are scared and they are looking for safety. The following is from a recent USA Today article....

"Treasuries are at 1.46 because people are freaking out," says Mark Vitner, senior economist at Wells Fargo Economics.

#8 New orders for factory goods in the United States have declined three times in the last four months.  That is a sign that the "economic recovery" in the U.S. has clearly stalled.

#9 U.S. job growth in May was well below expectations and the unemployment rate has increased to 8.2 percent.

#10 Economies all over the developed world are seriously slowing down right now.  The following is from a recent article by Ambrose Evans-Pritchard....

Brazil wilted in the first quarter. India grew at the slowest pace in nine years. China’s HSBC manufacturing index fell further into contraction in May, with new orders dropping sharply and inventories rising.

#11 Stocks in Japan hit a 28 year low on Monday.

#12 Over the past five years, the stock markets of Greece, Spain, Italy, Portugal, Ireland and Cyprus have all fallen by more than 50 percent.  Will we soon see similar results all over the rest of Europe?

#13 The Greek economy is literally shutting down.  Just check out the chaos that unpaid bills are already causing....

And unpaid bills are now threatening Greece’s electricity supply. State-owned Electricity Market Operator (LAGIE), a clearing house for power transactions, hasn’t paid independent power producers for electricity it bought from them. They, in turn, haven’t paid their natural gas supplier, Public Gas Corporation (Depa), which now doesn’t have the money to pay its supplier. Payment is due on June 22. Alas, its supplier is Gazprom in Russia, and they insist on getting paid. If not, they will shut the valve, and Depa won’t get the gas to supply the independent producers, which will have to take their power plants off line, removing about a third of the country’s electricity production.

#14 It is estimated that there are 273 billion dollars of failed real estate loans in the Spanish banking system.

#15 In March, 66 billion euros was pulled out of Spanish banks and sent out of the country.  That was an all-time record and that was before we even knew the results of the recent elections in Greece and France.  The numbers for April and May will almost certainly be even worse.

#16 The unemployment rate in Spain is 24.4 percent and for those under the age of 25 it is over 50 percent.

#17 Former Italian Prime Minister Silvio Berlusconi is warning that Italy may have to take drastic actions if something is not done soon....

"People are in shock. Confidence has collapsed. We have never had such a dark future," he said. Indeed, the jobless rate for youth has jumped from 27pc to 35pc in a year. Terrorism has returned. Anarchists knee-capped the head of Ansaldo Nucleare last month. Italy’s tax office chief was nearly blinded by a letter bomb.

"If Europe refuses to listen to our demands, we should say 'bye, bye’ and leave the euro. Or tell the Germans to leave the euro if they are not happy," he said.

#18 It now looks like Cyprus is going to be the next European nation to need a bailout.

#19 Switzerland is threatening to implement capital controls in order to stop the massive flow of money that is coming in from banks around the rest of Europe.

#20 As I wrote about the other day, World Bank President Robert Zoellick is warning that "the summer of 2012" could end up being very similar to what we experienced back in 2008....

"Events in Greece could trigger financial fright in Spain, Italy and across the eurozone. The summer of 2012 offers an eerie echo of 2008."

#21 Germany’s former vice-Chancellor, Joschka Fischer, is warning that the entire EU could fall apart over this crisis....

"Let’s not delude ourselves: If the euro falls apart, so will the European Union, triggering a global economic crisis on a scale that most people alive today have never experienced"

When was the last time that we saw so much bad economic news come out all at once?

2008 perhaps?

We truly live in unprecedented times.

It will be exciting to watch what happens, but it is also important to keep in mind that the coming economic crisis will cause extreme pain for millions upon millions of people.

For example, the suicide of a mother and a son due to the deteriorating economy has absolutely shocked the entire nation of Greece....

A 60-year-old Greek musician and his 91-year-old mother jumped to their deaths from their 5th floor apartment, driven to despair by financial woes. This double death is the latest in a rising epidemic of crisis-induced suicides in Greece.

­Witness accounts vary – some say the mother, who suffered from Alzheimer’s, jumped first, screaming a prayer as she plummeted to her death. Other neighbors say the mother and her son jumped together, holding hands.

But the one thing everyone seems to agree on is that the family had been struggling for a long time. The night before, Antonis Perris posted a suicide note of sorts on a popular Greek forum, saying he had no way of resolving the family’s financial issues.

“The problem is that I didn’t realize that I would need to have cash, because the economic crisis came so suddenly. Even though I have been selling our possessions, we have no cash flow, we have no money to buy food anymore and my credit card is maxed out with 22% interest rate.”

Perris continued to say that both his and his mother’s health deteriorated, and that he saw no solution to his most basic problems – getting food and medical help.

This is why it is so incredibly important to get prepared.

You don't want something like that happening to you or anyone in your family.

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  • tappedops

    Attention,Attention,Attention… the military are here to help you… civil disobedience will not be tolorated…….Attention,Attention,Attention……….

  • mark

    You keep writing about the troubles in Europe and very few here listen. They think that it will not happen here. Some think that our debt is nothing and that we can borrow forever. This is a form of normalcy bias. They want you to tell them what to do when you already have. Get Prepared! Some here are waiting for you to pull a rabbit out of your hat or wave a magic wand and good times will be back. The good times are gone until the debt is paid for the party of the last 40 or so years. The government and the Fed have abused the trust that they promised the world they would never do. More debt and more printing are coming so hold on to your hat or hide your wallet. They are coming.

    • Michael

      I hope that people out there are listening. I really do.

      Michael

      • Josh

        I am glad to be reading about Greece. It is like seeing the future for our country. Good to see how the specifics are panning out and how people react to problems. Helps me prepare.

      • K

        Michael, they are listening. They have just chosen not to act. I am sure you have heard the saying, They can not handle the truth. Accurate for about 80% of the population. But just to be sure they crank up the propaganda machine. During the fifties, there was actually a UFO scare in this Country. How did the Government handle it? They did everything the could to convince the general population, that people who saw UFOs were crazy. Now they are doing the same thing with people who prep. The news and the new TV shows send the same message. People who prep. are crazy, if not dangerous. And yes it will work again.

      • Bob Marshall

        Micheal,have you ever read whistleblower publications.A monthly publication of WND.CoM. The June 2012 issue Volume 21,No 6 has as its title MARXISM,AMERICAN STYLE.Interesting article about Obama and his days at Occidental College and he is a committed Marxist.This publication should be in every patriots home.

        • Michael

          Bob:

          I do check out WND quite often and I think there is a whole lot about Obama’s background that most Americans do not know.

          Michael

      • grimreaper

        @michael
        they DONT. They still spend their hard earned cash as if everything is ok, and that all problems will go away from them self’s.They still dont want to admit that we’re in middle of catastrophic financial an economic failure; i guess that truth is to painful to admit it…

    • http://endzone2.weebly.com Craig

      Yep, you think the debt and money printing is going to stop when Romney becomes president? I’ll be glad Obama is gone, but the debt will still increase at a ferocious pace. Hey Michael you ought to consider an article about how you think it will all play out. What is the endgame–is it an economy like Mexico’s?

      • GaryToo

        I am not defending ohbummer here i believe he is a very smooth talker who knows how to always say the right thing to anyone, “america has no better friend” in every country. “(name your country) punches above its weight” in every country. he is adept at diffusing trouble. He does not mean any of it, which is why he goes back on evrything. His speeches are all like a coach who knows his team is outclassed having to give a rousing pep talk pre-game and at each quarter, half time etc.

        but as for the catchers mitt, he must be incredibly connected for the truth about him to be kept so quiet. As chief of Bain capital he aquired and liquidated companies thereby eliminating everyones jobs. How can you americans not be concerned that he will not dismantle and sell off all govt assets to repay debt just like the euros are being forced to? It would be second nature to the catchers mitt.

    • mondobeyondo

      They listen, but they do not hear.

  • http://worldendsar5newsat11.blogspot.com drbuzzsaw

    I have been saying for more than a year PREPARE something is coming and it will NOT be good. I have talked to my Daughter and she say’s she will NOT talk about it, period. My youngest son has disowned me and now him, his wife and kids will NOT talk to me or have anything to do with me. My oldest son, says he has a couple bags of rice and beans. He lives in Nevada and has no water stored, no way to cook his reice & beans. I talked to my Brother and he says “I live in the country and have chickens and canned foods plus a generator” and much past that he will not talk about it. I have tried and tried to talk to everyone that would listen. I feel like I am trying to talk people into giving blood a kidney or some body part.
    Something very wicked is coming and NO word will do it justice, Crash, Catastrophe, Apocalypse, Genocide, End of Days, Tribulation, Holocaust words will fail to explain what is coming and when it hits YOUR family.
    I don’t know weather to cry or pray or both…
    http://surviving12-21-2012.blogspot.com

    • SmokyMtnLady

      I feel your pain….it’s the same with my family! Not much else you can do, except maybe buy extra food so when they come to your door, you can feed them!
      Before you let them in though…I’d stand there and demand an apology first! Lol!

      • Livinginparadise

        Smokymtnlady…how do you like living there? I love that part of the country. I think that is the best place you could be if there is a collapse.

        I am having the same problem with my family. They brush it off and do not believe me that we need to be prepared and to stock up on food. I keep saying what is the harm in stocking up on food. If nothing happens then at least I have extra food, which is something that we always need. I would rather have it for peace of mind then not being prepared. I keep telling them that they do not want to put their family in a situation where they have to be dependent on others, because there may not be anyone there to help if we collapse. Who are they going to run to if others are not as prepared as well. Families are going to protect their immediate family…those that prepared.

    • Ian

      or we could be on the dawn of a golden age. Maybe all the negativity is bad. Maybe this collapse will unite people and it wont be chaos. Maybe humans are better than you give them credit for.

      • jaxon64

        Except that 99% of the populace can’t feed themselves- so even with the happy “utopia” fairies passing out lollipops and free unicorn rides, in about 3 to 4 days of hunger all of the human instinctive “survival of the fittest” is going to kick in. Then we’ll see how hungry people and people watching their children starve in front of their eyes will react and what they’ll do to fill their bellies.
        Your gumdrop waterfalls and hippie commune dreams are all very snuggly..but in reality they have no chance of becoming true.

      • JStevens

        Hahahaha! Aw, Ian. That’s just precious.

    • NickelthroweR

      Greetings,

      I’ve come to the conclusion that it is just best to not talk about it at all. Family and friends just do not want to hear about it.

      I learned this valuable lesson as a vegetarian in a world of meat eaters. I could direct you to scientific studies, charts and graphs and enough anecdotal evidence to choke us all but in the end, it wouldn’t matter as I’ve never convinced (and I no longer try) a single person to give up eating meat. It is no different than with this prepper subject.

      As a reminder to not take myself too seriously, I have a fair collection of books and pamphlets going all the way back to the 1950′s that scream to the reader that the “final collapse” is just around the corner. It helps put things in perspective. Frankly, the powers that be may be able to keep the bread and circus going for another 100 years.

      If you choose to prep then that is your decision. Do it and tell no one. If you are correct then you’ll be able to help family and friends and if you are wrong then at least you wont be thought of as crazy. Anything short of that will just alienate family and friends.

    • GaryToo

      same here, and the more things keep turning out the way i warn them, the more they avoid talking to me unless i saty off the subject.

      • Kelby

        Hah, they’re eating their own words then. I know my parents will, too, soon. I’ve tried to warn them about this, and they wont hear any of it. “Quit listening to those negative economists, they cant predict the future blah blah blah!” They wont see any of the evidence i have to give them. It’s just pure closed-mindedness and normal bias at it’s worst. Plus, they’re pretty materialistic, my father works in the oil business and he’s started his own truck-driving business transporting sand and stuff for oil rigs and stuff like that and before he did so, he said to my mom “We gotta go after that money!!” So they’re essentially profiting off the people who hurt at the gas station with the high gas prices, and they’ve gotten pretty materialistic. My mom says “oh if i have to go back to living in a shitty house and working in a crappy job, i can handle it!!” but i’m not willing to bet on it.

  • http://EconomicCollapse Already Gone

    This Mn Country Boy Will Survive No Matter What,yeehah!

  • Evie

    Con fidence is down? Could be people do not wish to become debt slaved with 35% interest anf more.

  • http://Theeconomiccollapse Gregge Johnson

    Michael. Great article. However you have not pointed out how the EU controls all the food and how they are going to ration it out!

  • Mick68

    The real question is this: Do the banksters want the EU in its current form to succeed or fail? If they want it to fail, it would be so easy, just pull the plug on funding from the ECB, but they don’t, which leads me to believe they want this shell game to go on longer.

    Comments?

    • jox

      The banksters don’t want the Euro to disappear. Every time a country is in big trouble, the ECB print another tonne of money. In total, all the Euro countries need say 1 trillion euros to bail out the economy. Do you think it is too much? Of course not! Why the ECB don’t print this money? Because they don’t want their debt back, they want to use it to enslave us.

    • Rowell

      The game they’re playing, with all the bail outs, they’re just sucking more and more money out of the governments. When governments collapse, who will have all the wealth? The banks.

  • Rain23

    Americans have an amazing capacity to deny the obvious. Most of us won’t believe things are bad until it’s our prescription that can’t be filled because it’s manufactured overseas, our company that closes because the product isn’t essential, our grandmother whose pension disappears and the nursing home van just drops her off at the curb one morning.

    When we’re in the supermarket one Saturday and half the shelves are empty, maybe we’ll get a clue.

    Am I the only oldster who remembers gas rationing? People were just dumbfounded, even when it had been on the news the night before. Just about everyone who tried to get gas when it wasn’t their day had a creative reason why THEY had to be the exception. Nothing doing, now push that vehicle out of the way so folks whose day it is can get their gas. Grownups throwing tantrums right out in public, getting into fistfights with gas station owners, breaking windows in frustration. That was gasoline, not milk or medicine or diapers. Worth thinking about.

    • DaytoDay

      Great comment Rain

      Fortunately, I was not around then, but I have seen my share of power outages, undriveable roads,and non-existent job market (Fries with that?)

      So, I think people who have been through said scenarios, understand that when the SHTF there is NOBODY to help you… You only have yourself, and if you’re lucky family, friends, and neighbors.

      Trust me, I know from experience… When the power goes out and the roads are too hazardous to drive on, you’re on your own…

    • mondobeyondo

      No, you’re not the only one who rememmbers the gas lines of the 1970′s.
      There were TWO gas crises, one in 1973 (OPEC oil embargo) and again in 1979.
      Don’t remember much about the one in ’73 (I was only 7 years old)…

    • Paul

      The supermarket shelves won’t empty over night.

      They will all look full until the last hour.

      First,
      the cheap items go. And the space is filled up with expensive items. The price labels of the cheap items stay in place. If you are lucky, you will find out at the cashier. If not, thank you for your contribution to the sales figures.

      Then,
      luxury items are not bought by the super market and they disappear from the shelves. Replaced by beans, cooked beans, bacon beans, Heinz beans. Wholes shelves just beans, where before there were different kinds of veggies in cans, now just canned beans.

      Then,
      the rows are getting thinner. First you have cans in 10 rows in the shelves, then 5, then 3 and when the last row is gone, the super market is suddenly empty.

      I live within walking distance of 3 supermarkets and 10 ethnic food shops. Not the best neighborhood but definitely not an expensive one.

      This year my savings go into teeth.

  • Andrew Stunich

    Most Americans are not listening. They have a pollyanish confidence when there is nothing to be confident about. I feel sorry for most Europeans. They have no idea that they are on the edge of a precipice. The Muslim population is increasing dramatically while the indigenous European population declines. That is a recipe for disaster even if all was well economically. But all is not well economically. The Europeans cannot even make it now while much of their defense has been subsidized by America. That gravy train is coming to an end and Europeans will have another worry to add to their woes – how to pay for their national defense. Turkey is on the rise and may soon be head of a new Caliphate. Greece may well fall back under control of the Turks. I am quite thankful I am not a Greek these days.

    Americans are like cattle in the filed chomping on the grass and getting fatter by the day while economic Armageddon gets closer by the day. America wastes billions overseas while its own economy crumbles. An economy so dependent on private spending for 70% of the economy is doomed when real wages are falling, private debt is high, and discretionary income is falling. The elites betrayed America with globalization and shipped American manufacturing overseas. There are increasingly fewer good jobs. For many Americans, the public sector is looking pretty good but how much longer can overburdened states and local counties and cities hang on? How can there be any confidence in the stock market or economy when the federal government is expected to run up deficits in excess of 20 trillion by 2016 and many tens of trillions more are needed to prop up social programs? The only thing holding everything together is the fact that most Americans are simply unwilling to face reality and see how bad things are getting. They call it normalcy bias. Most Americans have no idea what is about to happen to them.

    • http://thebigbadbank.com George Hunt

      Good article. People just don’t think.

  • McKinley Morganfield

    “#15 In March, 66 billion euros was pulled out of Spanish banks and sent out of the country. That was an all-time record and that was before we even knew the results of the recent elections in Greece and France. The numbers for April and May will almost certainly be even worse.”

    This is the initial black swan. More black swans are circling overhead. Prep now!

    • Another Richard

      The Biggest Black Swan came just last month with the JP Morgan Derivatives trading loss of 2 plus Billion $ and now acknowledged to be 4.2 Billion $ plus. The Great Unwind in the over One Quadrillion $ Unregulated Derivatives Market has Begun. It will Accelerate into the second half of 2012. The U. S. Dollar will lose its position as the Petro Dollar and the Reserve Currency of the World. The U.S. Dollar will be Greatly Devalued by the end of 2012 and its Purchasing power Greatly diminished. There will be Food in the stores and Gas at the pump, but at Greatly Higher Prices for the the Diminishing value of the Dollar so that Many people will not be able to Purchase much who hold there wealth in Dollars. Exchange your Dollars for Gold and SILVER American Coins Today while you can still do so. They will Hold Their Purchasing Power in this Period and actually Greatly increase in Value and Purchasing Power. The clock is ticking on our ability to Protect our wealth in this manner tho.

  • greeneyes

    Michael. You mentioned that people do not understand the European situation and how it will affect the U.S.
    I for one very much appreciate your writing on what is transpiring there.
    Thanks for your keeping us informed.

    • justamom

      ditto

    • Jodi

      Me too! It would be greatly appreciated if you could write an article on how Europe will effect the U.S. Nobody and I mean nobody in the media is talking about this and that is the reason why so many are committing suicide in Greece. I’m sure their slimy media didn’t talk about the coming crisis.

      Not kidding, this was the headline on the local news station yesterday:
      BREAKING NEWS: JUSTIN BIEBER SOLD OUT HIS U.S. CONCERT TOUR IN 30 SECONDS. WHO GIVES A BLEEP!

      • Jerald

        Not me. Who’s Justin Bieber?

  • Glenn

    God helps those who use his money, Gold and Silver!

  • Glenn

    Did the Bible mention that the street in Heaven were paved with paper?

  • Michel

    this is a message that John Leary recieved,I believe this;
    Jesus said: “My people, I am telling you that the one world people are planning purposely to crash the U.S. dollar before the election. This action is similar to how they brought about the crash of your financial system in 2008. In Europe the central bankers have been giving just enough money in loans to the teetering economies to keep them solvent for a time. At one point they will raise the interest rates so high that these countries will not be able to even pay the interest. At this point the bonds of these countries will fail, and their failed economies will eventually crash the euro as a currency. America and its banks are so tied to supporting Europe that the insolvency of the euro will put such a strain on the dollar that it too will crash. These events will be timed before your election so your President, if he so chooses, could postpone your election so he could invoke his new Executive Order. This would allow him to call an emergency martial law to control the chaos that would ensue from the dollar’s collapse. This would cause a bank holiday and a new currency or a chip in the body would be established as a new means of buying and selling. Be prepared, My people, with food to survive this crisis, and be prepared to leave for My refuges when people start stealing and killing for food. This kind of crisis is being deliberately caused by the one world people so they can take over America and make it a part of the North American Union. My refuges will be your places of protection where My angels will shield you from the evil ones. Have no fear, and trust in My power over the evil ones.”

    so those people have the power to trigger that crisis whenever it suits them, and it can go down really fast.

    • Bryan

      who is john leary?

      • RA

        The real question is “Who is John Galt”?

        (Ref. “Atlas Shrugged”)

    • Steve

      Interesting but Jesus certainly didn’t say that. Jesus would be admonishing His people repent for His soon coming to gather us to Him and urging unbelievers to repent and come to Him at the cross!

  • chiller

    In 2008 we were able to recover quickly by pumping in $$$. We continue pumping in the cash with no further positive effects. This time, no amount of money pumping will help and would probably make matters worse.
    I’d like to thank Michael for his daily efforts here to make people realize what’s about to happen. What will you tell your family when they ask you what you’ve done to help them survive? It’s hero or zero time for you and your loved ones. Which will you be?

    • Michael

      Thank you for the kind words chiller.

      Hopefully I am doing a good job of warning people of the threat that is coming from my position on the wall.

      Michael

      • http://www.libertybylaw.org Reesie

        Hey Michael! SO GLAD to have found a site of the like mind! ((((((exhale))))))) … I found you looking for answers related to the economic collapse. By any chance, would you have any information on what would happen to prisoners? My husband is a political prisoner being held by the bureau of prisons in Texas, and I am totallly PERPLEXED as to exactly HOW their fate may play out as well. Any insight whatsoever that you can add to my conversation is greatly appreciated!

        Much Love
        Reesie <3

        • Michael

          Reesie:

          That is a very good question. In the short-term I expect our prison system to continue to operate “normally”, and in the mid-term I expect a lot more Americans to be jailed.

          However in the long-term we are likely to see some major changes in the U.S. which could shake things up.

          Keep praying for your husband and do everything you can through the legal system to try to get him out.

          Michael

  • mondobeyondo

    Summertime… and the livin’ ain’t easy.

    Enjoy the livin’ now, because it’s about to get worse.

    • http://lastdayrapture.blogspot.com/ TK

      Your right mondobeyondo, it is about to get a whole lot worse!!!

      By the way, what’s with the name?

  • mondobeyondo

    “A 60-year-old Greek musician and his 91-year-old mother jumped to their deaths from their 5th floor apartment, driven to despair by financial woes. This double death is the latest in a rising epidemic of crisis-induced suicides in Greece.”

    Today, Greece. Tomorrow, the USA.

    Desperation is rising out there. I suppose you can’t blame people for the “lemming syndrome”… when you lose your job, spouse, everything you have to your name, all of your wealth, etc… you’re tempted to just end it all. Don’t do it.

    In times like these, you have to cling to your faith, which I hope you have. When all else fails, Jesus Christ won’t let you down.

  • Warren

    @”It is almost as if a ‘perfect storm’ is brewing.”

    The perfect storm is what has me the most worried. We’re not talking about a bad indicator here or there, but multiple unprecedented indicators that could explode in a relatively short period of time.

    There is the:
    - 800 trillion – 1.5 quadrillion international derivatives bubble
    - Multiple sovereign debt problems of Euro member states
    - The U.S. sovereign debt bubble
    - Derailing of the U.S. dollar as the world’s reserve currency
    - Looming Iran war

    I think, however, the biggest issue is the derivatives bubble due to the depth of the exposure that the whole world has to it. Maybe an indigenous tribe in New Guinea would escape unharmed when that bubble bursts, but the event in an of itself would bring the whole financial system down. I mean, we are talking quadrillion here. When I came across that word the other day I had to make sure quadrillion followed trillion in the numbering system. I’m not sure any of us can fully understand just how large a number that is.

    • GaryToo

      thats right warren, which is why i am certain of this happening, and i dont need to say maybe. We are just screwed several different ways. If the i r a n war does not brek out with any number of unpredictable consequences, then that will cause oil prices to make economy unworkable, and state of emergency. If that does not happen, then the debt clock is unsustainable and a default is inevitable sooner or later, and if not that then euro collapse contagion. Pick your poison.

  • Cinderella Man

    Most believe its happening over there it cant hurt us here. Has everyone forgot Lehman Bros? Duh? We are all connected. Its amazing when its comes apart how fast it goes. I thought the gobal banking elite were just keeping things on life support utill the presidential election was over but its looking more and more that it is slipping out of their grasp.I mean how many catastrophes can you keep ingnoring untill its too late?

  • Evie

    The elite did not plan the failure of the euro. The central planners like big things they can control. Keeping euro high and dollar low is one of the ways to fake economic statistics. Think low hanging fruit.

  • karen

    I am getting ready to retire here REAL SOON so I guess I can say a few things because I’m using a military computer, and they do watch everything you do , I have already had my paypal account disabled and a site I go to all the time one of my favorites was blocked and I have no home computer because I will be on a fixed income computer cost and so does the service and I would rather add finale things to my farm. Call me stupid for saying things over there computer but what – the – heck. I am in the military was active duty and now have been in the USAFR altogether 33 years, I know the military inside and out, I cannot say certain things but I can say is that you BETTER get ready first and foremost is mentally because the rest won’t matter unless you are of sound mind!!! Fear does not help you what soever. Get right with Great Spirit I believe as the Hopi and Mayans we are all in this together, find others to work with, team work always works. There are many things getting ready to happen and when they do it will be one right after the other to knock you to your feet so you will be totally confused get right with yourself and you will fair much better. I wish each and everyone the best.

    • K

      Karen, please reconsider going off line. I am also a retiree, on a fixed income. Timely information, will never be more important, than it is right now. Netbooks and some laptops are under three hundred dollars brand new. Dialup service is around fifteen dollars a month. How much news have you seen on the web, that was never reported on the TV. How much news have you seen on the web, that was reported on the TV, 48 hours later. Timely information can make a life or death difference. Good luck on your retirement.

    • terry

      Thanks for the, not so, helpful advice….getting right with the great spirit?
      Please, I could fair better with a fortune cookie…

  • Semper Fi

    History will always repeat. Humans after all, will always be human. Nothing can stop it. Nothing can change it. To survive, to prosper, learn to deal with it. And be on the side of the good-guys: pray for and help others. Don’t prey upon others.

  • Jodi

    I want to point out, it is extremely important when things fall apart that Americans stay peaceful and strong. It’s called the “Top Down, Bottom Up, and Inside Out:” Van Jones. If people riot and scream for help, the globalist leaders will have a plan in place to ease the pain and it’s not going to be good.

    Here’s a blog I found this morning on that theory:
    http://lindagailwestrich.ipage.com/lindasblog/?p=19

  • Professor Gary

    Believe it or not, FEMA and Dept. of Homeland Security are promoting preparedness by families and communities. Nobody is paying much attention, of course, just like most public service announcements. The threat assumed is a weather related crisis, not an economic catastrophe, but many of the recommendations about stocking up food and supplies are identical. People don’t listen no matter what the source might be. If God himself sent a prophet who raised the dead and healed the sick, they would probably go about their daily lives without responding. Sound familiar?

    Here is the website for the taxpayer paid warning to the country to have a preparation plan:

    http://www.ready.gov/

  • David

    The USA: The world’s productive/creditor nation turned consumer/debtor nation, of 330 million people my guess is 90% are oblivious to what is coming and do not care to educate or enlighten themselves, they’d rather hide under their blankets and pretend their future is rosey and beautiful- all of which own guns and almost none of which have stockpiled SNY food or medicine. We’re screwed. If you are preparing…do not tell anybody in your community except those who are preparing as well.

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  • Deborah

    My Daughter and son-in-law dont believe that something BIG is about to happen. And they think I am crazy to want to prep for it. I will do what is best and if they want to come and live here with us on our farm they can…But I dont except anyone else to come and ask for a hand out…

  • blackorchidspider

    I saw the crisis coming in 2007 and started to prepare then. I am on disabiliy so everyone assumes that I am more than a little crazy. Finally a few people saw the light and have started gardens and canned the produce. Since I have so little money coming in each month, I have been consistent bout putting up food, and supplies. In a few years, Social Security, Medicare, Medical Assistance, food stamps, and Section 8 rental assistance will be no more. Then it will be too late.

  • Alasha

    Solider On!!!! Rallying the Troops, Michael!!

  • Lissa

    Fear not drbuzzsaw I´ve been speaking to people about this time for 8 years yes that´s right 8 years remember the time when everyone was flying high and the sky was the limit and everyone was placing so much importance on things of such little or no importance (more money, bigger houses,boats,airplanes,new cars you get what I´m saying). To say the very least I was the only stiff pr-ck at the wedding! In other words not very popular people called me the doomsday sayer among other things. Knowledge is power and I decided to tell anyone who would listen what I have known. Even my own husband thought I was nuts. He doesn´t anymore and neither do a lot of people who decided to pull their heads out and look at reality. When it comes right down to it if one wishes to survive one will need food and water. Clean water and food will be the new gold mark my words. Call it what you will catastrophe, apocalypse,end of days da da da. It is what it has always been PURIFICATION. It is indeed The Purification time. Get yourself in order and anyone you care about who chooses not to be in denial and stay calm it will pass. The American indians were right all along.

    • GaryToo

      Thanks for that wisdom LIssa, you get it. Purification it is.

  • Mick68

    Michael. You mentioned that people do not understand the European situation and how it will affect the U.S.
    I for one very much appreciate your writing on what is transpiring there.
    Thanks for your keeping us informed.

    ——————————————————————————————–

    Being that I’m not an american, this one is easy. So sad americans think nothing matters if it’s not in america, such ignorance.

    How this will affect the US, many ways:

    1)All banks are tied together globally by their “exposure” meaning debt, whether they are owed money by other banks or they owe it. We’re talking trillions and trillions here. Spain owes hundreds of billions of euros to multiple european and asian banks, which would suffer tremendous losses if spain defaults. Those banks, for instance in france, japan,china, and germany, are directly connected to US banks through numerous financial instruments. This creates a domino effect, as small banks default on a hundred billion euros, causing big banks to default on 500 bn euros, and on and on we go.

    This is basic info known to everyone i think.

    2)Economic effects- Spain is a large economy and therefore buys a lot from the world suppliers. Again the domino effect thanks to globalism, spain buys less from suppliers, causing them to buy less, and quite quickly the downturn hits US exporters which then buy less and have to lay off workers to keep losses from piling up.

    Again, basic economics.

    3)Contagion effects- Although many countries are better than spain, they aren’t great either, like germany for example. Germany is actually quite debt ridden but offsets this with high and strong GDP, making its debts managable. Should they hit a signifigant recession, these debts would become difficult to pay, making even germany vulnerable, and the US has significant german exposure. Also, germany’s banks are among the least capitalized in the world, meaning if they were to experience signifigant losses, they would be in a crisis themselves. Add to this list Japan, US, France, UK, and Australia, all would be extremely vulnerable if they suffered a significant economic hit.

    This is merely the layman’s version, a pro could add much to this list such as large US corporations with interests in spain, greece, germany, etc which would suffer losses if this comes tumbling down. Losses in europe would mean cutbacks, and as we’ve seen many times, those cutbacks don’t just happen at the site of the crime, they would definitely affect the US.

    No doubt all of this would have far reaching effects on the derivatives market, which nobody really knows anybody’s full positions. Safe to say a shock like this would create winners and losers in the derivatives market, and with an estimated 700tn at stake, whole nations would fall, and not banana republics either, the US itself would fall if a large US bank lost in the derivatives market.

    • mondobeyondo

      Yaaaayyy!! Someone out there gets it!!

    • DB200

      700 tn?? US gov. debt is 15 tn, so we are talking roughly 47 times US debt. And some people worry about the US debt. Now when this derivatives market implodes, you’ll have a real “shock and awe” moment, I guess.

      But of course, normalcy bias says it can’t happen. Politicians say it won’t happen. And we lived happily ever after.

  • erheault

    I am a child of the depression born 1933 so have imbeded memories of a hard time and the following WW11 born in Denver and was sent every year untill 1942 to a uncles wheat farm In Sterling colorado where we had relitives that had lost all in the vast dust storms earlier, The idea there was I had good access to food where in Denver occasionally we had meals at the Salvation Army due to lack of money, they are a sterling orginazion,
    When WW11 broke out I was sent to another uncles cattle ranch in Ruby valley Nevada for a worker doing what ever I could no pay just room and board, Considering what went on I was one of the lucky ones.
    The one lesson that was hammered home is never if possible owe anyone anything so I have remained debt free, And the other thing I had drilled in be that ALL bankers are Thieves my Grandmother had a saying that she would rather be robbed by a honest thief than a crooked banker This was from a generation that had been robbed by bankers and guess what they are back, I guess this time they wont be called Hoovervills but Obamma resetlement camps or tent cities.
    Prepare as best you can because if this continues it will last may years and definatly will not be fun.

    • DB200

      “The one lesson that was hammered home is never if possible owe anyone anything so I have remained debt free”

      This is exactly what both my grandfathers learned me as well.

  • sharonsj

    “Fear and panic” are the exact words I used to describe the psychic blast I got in April while listening to an economic discussion about Europe. No matter what happens there with voting, a large percentage of the various populations will continue to riot while the richer folks move their money to safer places.

    This is what you get when you couple bank gambling with austerity measures. I think I read that Morgan Chase is leveraged 45 to 1. That means for every $1 of actual cash they had, they bet $45. MF Global still didn’t find the missing customer money. None of the banksters are in jail and our politicians have been paid not to prosecute them. So when Europe falls and our banks are screwed, I wonder if the American taxpayer will pony up again or take to the streets like the Greeks, Spaniards, Portuguese, etc.?

  • Granite Prepper

    Michael, I echo greeneyes in thanking you for all you do. I read this and your other blog and then couple that with all the other research each day I do about the “real” news and what is coming. I agree with an earlier entry that I have given up trying to talk to anyone about what is coming…..they either think I’m crazy or don’t want anything to do with me. Luckily my wife is as awake as I am and we are doing all we can to prepare for us, the kids and the animals. I have learned that OPSEC is the key to survival in what is coming as others will surely want and try to take what you have prepared for……seems like a sureal version of the three little pigs. However, we do what we can while we can and know that we are on God’s side……there is nothing more we can do at this point. Time has passed to change the course, we can only weather the storm. Best of luck everyone.

    • http://www.libertybylaw.org Reesie

      “we do what we can while we can and know that we are on God’s side……there is nothing more we can do at this point. Time has passed to change the course, we can only weather the storm.

      HERE HERE, I’M WITH YOU GRANITE PREPPPER! Couldnt have said it better myself :)

    • GaryToo

      thanks granite, i can totally relate to that.

  • Washington

    An inquisitive alien visits the planet to check on our progress as a species, and gets into a conversation with the first person he meets. The alien discovers that we live under the rule of a thing called “government”, and wants to understand more about what “government” is, what it does, and why it exists.

    http://www.youtube.com/watch?feature=player_embedded&v=EUS1m5MSt9k#

  • http://theeconomiccollapseblog.com mike

    ATTENTION, ATTENTION…The military are not there to help you per se. They are there to keep some semblance of order in order to protect the wealthy’s interests. Defiance and trying to deal with the symptoms are like trying to stubbornly heal an infected wound with a band aid. People (nations) need to address the core of the problem and that is their willfull acts of defiance and vain attempts at independence from the God who made them.

  • TheRandyGuy

    Great article, as usual, from Michael. The politicians are intentionally lying to us because if they were honest, they would lose their positions and God knows, they must stay in office. We bear the responsibility for this: We elected them and kept them there even after they were proven to be liars and corrupt to the core. Anybody who isn’t stockpiling food, water, weapons, and ammo is going to have a very difficult time in the near future.

  • patriot alice

    Where’s the can? I didn’t get my turn yet to kick the can down the road..Where’s the can Bernanke? The can, the can…QE3 Bernanke? Pushing on a string? Out of bullets? Don’t worry America, we can still print, borrow and spend, we’re not Greece you know….We are in a great position to control our future..Go Bernanke..In Bernanke We Trust..

  • mondobeyondo

    I’m currently trying to teach one of my cockatiels the following:

    “Thank you for your interest in our company and the job opportunity offered. We are sorry to tell you, the position you were seeking is now filled…”

    It’s getting so repetitive. Teaching the bird would save a potential employer much time wasted printing a letter and mailing it, or emailing it.

    Oh yeah. Back on topic. Where the Eurozone is now, is where the U.S. is headed. Very little doubt about that. And it’s not a good road we’re heading down.

    In Europe, they are trying austerity measures. In the U.S. we are trying quantitative easing and government spending like a drunken sailor. Two roads leading to the same destination… San Diego. (hehehe.. couldn’t resist!!)

  • JAH666

    Since there are a probably a lot of comments awaiting approval I suspect that someone has mentioned this already, but here it is. As much as I hate the guy, George Soros is one of the most clued-in people in the world financial hierarchy. He stated publicly the other day that he has started a 3 month countdown to doomsday for Europe if they don’t find a way to fix their problems. It is WAY too late for a fix so we better be ready for SHTF some time in September (October at the latest). Those of us that read this site and post here are preparing and I for one am reviewing my readiness plan.

    When it all comes tumbling down, well, see ya’ll on the flip side!

  • 1984

    umm… don’t this seem just a LITTLE BIT orchastrated to you…?

  • not so

    The train reck is coming to USA . we need to Educate Congress away from their special spending needs. 700 billion for military , 1 Trillion for government and entitlements, payment on debt 300 Billion per year. total annual spending 2 trillion. total reciept 2.2 trillion a surplus of 200 Billion to be applied to infrastructure. How hard is that to figure out???
    I consider the senate by not submitted a fiscally sound annual budget for political purposes instead of managing the governement an act to be negligent, irresponsible and aiding foriegn country’s that want USA gone. It is called treason Harry Reed is at the top of this list along with Patty Murray. They wants us to be the EU , REALLY…
    send your senator to jail .
    O.M.G. => Obama Must Go

    • Cinderella Man

      or BB2C Barry Back 2 Chigago!

  • Washington

    Mitt Romney Stashing Millions In Offshore Banks Jan 19, 2012

    Mitt Romney cayman islands bank banks bain president 2012 election ABC News mox Barack obama Clinton Analysis Ocean alex jones new world order moxnews illuminati nufffrespect left right paradigm offshore tax haven.
    http://www.youtube.com/watch?feature=player_embedded&v=ppxOEyxt4aU

  • http://theeconomiccollapseblog.com mike

    “Educating” congress is not the answer. They already know our predicament all too well. They are preparing for it…Why do you think they’re exempt from obamacare? They are not as smart as they think though. The crushing blow will affect them as well. Also, people who rely on money, a fiat currency, will also be in for a rude awakening. However, I don’t just blame congress or the super rich. For the past 20 years the American male has allowed himself to be emasculated! We are so afraid to say this or do that. We have gravitated to debauchery and vice. Yep, keep em fat, dumb and happy. All the while this country has lost its strength which is founded in values from God. Instead, we allow congress to send our young people to war to be killed or maimed for elite who lie, cheat and steal their futures. As long as we have our porno, “dancing with the stars”, snookie, cell phones, beer, NFL and big screens; who cares about laws being passed which rip apart at the family and more particularly the American male. Yes, we have fallen asleep or in a drunken stuper. It starts at home with men who will submit to God and lead their families in what is right. I’m not talking about hypocrisy! I mean men who will walk the walk. Only then will we begin to hold the Harry Reids, Baehners and Obamas accountable. Remember, they work for us! But do they really? Our God-given rights are being taken away bit by bit and it’s OUR fault! We don’t read, we don’t write and we don’t act to hold our representatives accountable. How can we when we don’t even hold ourselves accountable to do what is right for our families. It starts in the home!!!!

    • GaryToo

      all true mike. I expect the whole feminazi con destroying family and marriage to end abruptly when so called successfully single women become sitting ducks without the protection of a man at home.

  • a lot more trouble…

    One Thing missing from all our conversations is the why? Why is this happening?
    I’m not going to burden your readers with more news of company layoffs at this time, we all know it’s bad. Even though it is early in the month of June to report such happenings. And i will report back as it happens.

    What we do see is our entire globe is in a financial mess. Global economies are slowing down. A Time for a reset you ask? A new beginning?

    Well maybe, but not that kinda of reset. Remember our last decade to present has been filled with unprecedented natural and unnatural disasters, from 911 to tsunamis to earth quakes, to fires, Tornadoes and hurricanes, and economies being ripped apart.
    Peoples lives were torn apart.

    But why? Perhaps these are previews? warnings? chastisements?
    Perhaps we should take a closer look and see what’s missing from the equation.

    I am not religious by any means, nor do i pretend to be, but ask yourself, when was the last time you went out to dinner and saw a family pray and give thanks before partaking in food? Or even yourselves, sat down to chow down and give thanks before eating?

    We use to do it every meal and every night in our house. Also saw families in many restaurants holding some kind of thanks before eating.
    Not any more. Nope Never.

    Since when have History channels become the guru for selling new ideas and philosophies about aliens who came down and created us, or taught us technologies, or are coming back again?
    That was science fiction back in the day, now it is reported by History channels and the learning channel as though it were fact.

    Our values are changing, We are no longer spiritual beings but very materialistic.
    We are not taking heed to the lessons we are witnessing around us to get back to our spiritual roots, that’s whats missing.

    we all need to to prepare including myself. Not by saving money most of us can’t anyway.
    Nor by building an underground bunker and storing up food. That will not spare you the troubles coming.

    But getting ready spiritually for very hard times ahead indeed. They are coming, be sure of that. Not in 25 years or more, but very soon.

    It will not be a horror show to enjoy watching because you will be in it.
    Take time now to reflect on your relationship with your creator, have you taken time to give thanks? Or even acknowledge your creator?

    Give it good thought. You don’t have to be religious to have a relationship with your creator. Just think about it.

    God bless all.

  • Paul76

    Not knowing exactly when they’re going to give the boot to Greece OR how badly things may unravel in the aftermath, it may be wise to keep some extra cash on hand over the coming few weekends. Most likely date would be the weekend of the 18th, but as that’s the most likely, they may pull the plug either this coming weekend or the following weekend–barring a massive Euro QE (backed by another round of Fed printing) to keep the ships afloat for a few MORE weeks. Keep a close eye on things Fridays after the U.S. markets close.

    Don’t get caught sleeping at the switch if Greece goes down, unravels badly, and induces a market panic for the following Monday. Who knows what stops they pull out to try and prop up the system. As the U.S. is on the tail end of the business day, by the time panic blows through Asia and Europe, don’t you think they’ll try to put a stop to it here? Can you say “bank holiday?”

    Which weekend?? Can’t say for sure, so better prepared than not and best YOU be holding your money and not the bank! Might it turn out not so bad? Let’s hope so. If it’s not so bad and things remain stable, you’ve lost nothing. But, if you take no precautions and it IS bad, then YOU will be lost. Take heed, keep your wits about you and don’t get caught with no cash on hand–just in case.

  • SMASH THE CONTROL MACHINE

    this-could-be-a-long-hot-crazy-summer!!!LOOK AT THE SUN!![ USING A WELDING HELMET OF COURSE]BANANARAMA FOR THE BANANA REPUPLIC!!!Venus – Bananarama

    Goddess on the mountain top
    Burning like a silver flame
    The summit of beauty and love
    And Venus was her n
    She’s got it
    Yeah, baby, she’s got it
    I’m your Venus, I’m your fire
    At your desire
    Well, I’m your Venus, I’m your fire
    At your desire

    Her weapons were her crystal eyes
    Making every man a man
    Black as the dark night she was
    Got what no-one else haD

    Goddess on the mountain top
    Burning like a silver flame
    The summit of beauty and love
    And Venus was her name
    Wow!

    (Venus was her name)

    Yeah baby she’s got it
    Yeah baby she’s got it
    Yeah baby she’s got it
    Yeah baby she’s got it
    Yeah baby she’s got it
    Yeah baby she’s got it
    Yeah baby she’s got it
    Yeah baby she’s got it
    Yeah baby she’s got it
    Yeah baby she’s got it http://www.youtube.com/watch?v=giQ_SwN7lz8

    • mondobeyondo

      Shocking Blue did it first.

  • Steve

    What gets me is how Australia continues to thrive among the growing global economic gloom. However it is worth noting that the just relsease GDP of 1.3 per cent (4.3 per cent annual increas) for the first quarter of 2012 is before slowing activity was becoming clearer in China and still during a time when even Europe was a lot quieter during the beginning months of the year. I doubt the second quarter is going to be as positive. Asia can’t buck the broader global trends forever.

    • GaryToo

      exactly right steve, i have been just about swearing out load at the TV watching wayne swan et al patting themselves on the back. Those figures are for LAST 1/4 and LAST YEAR. NOT THE FUTURE!!!

  • Mick68

    Ever wonder how the banksters have enough money to leverage 700 trillion in the derivatives market? Even at 1-100, they need 700bn, which they don’t have in cash….or do they? Let’s add all those QE’s together and then subtract the jobs it created, which is….ZERO!! Yep, your tax dollars given to wall street in the form of QE is seed money for the wall street vermin to risk in the derivatives market.

  • Professor Gary

    There is one european country that is recovering very nicely from the recession and it uses the eurodollar! Ever heard of Estonia? They have been implementing austerity since the collapse in 2008 and now they have GDP growth 5 times greater than the rest of europe and a budget surplus!! Discipline and a sense of unity during difficult times makes this cooperation possible. Northern Europe is growing quite well by following non-Keynesian policies and live within your means attitudes to their personal and national finances. Latvia and Lithuania are also doing well like Estonia but they are not in the eurodollar. Read this link for more background:

    http://www.cnbc.com/id/47691090

  • naushad

    The captalist system of debt and leveraging is the fundamental problem. Both the Bible and the Quran have ordered mankind not to be involved in interest transactions, yet we never learn. It is time or Him to mete out His punishment.

  • George Kadlec

    An anthropologist by the name of J.D. Unwin initiated a study with the premise that marriage was not necessary and possibly even detrimental to the development of great societies. At the end of this study he completely reversed his hypothesis.

    “Perhaps the definitive work on the rise and fall of civilizations,” writes Fitzpatrick, “was published in 1934 by Oxford anthropologist J.D. Unwin”:
    In “Sex and Culture,” Unwin studied 86 human civilizations ranging from tiny South Sea island principalities to mighty Rome. He found that a society’s destiny is linked inseparably to the limits it imposes on sexual expression and that those sexual constraints correlate directly to its theological sophistication and religious commitment.

    Unwin noted that the most primitive societies had only rudimentary spiritual beliefs and virtually no restrictions on sexual expression, whereas societies with more sophisticated theologies placed greater restrictions on sexual expression, and achieved greater social development.

    In particular, cultures that adopt what Unwin dubbed “absolute monogamy” proved to be the most vigorous, economically productive, artistically creative, scientifically innovative and geographically expansive societies on earth.

    The following are grave words for the USA that come from noted Harvard sociologist Pitirim Sorokin who found no culture surviving once it ceased to support marriage and monogamy. None.

    Now we can do a basic analysis of marriage in the USA. Current illegitimacy rates are as follows:

    Black 73%

    Hispanic 53%

    White 29%

    for an overall rate of 41%. The future of the USA has been written. Currently the rate of illegitimacy for all women of all races under 30 is 53%.

    “Once a society departs from a social norm of absolute marital monogamy, social chaos ensues within three generations.” — Anthropologist Joseph Daniel Unwin

    • Bob Marshall

      Colonel Edward Mandel House in 1911,returned to his home in Texasand completed a book called Philip Dru,Administrator. this was a detailed plan for the future government of the United States, “which would establish Socialism as dreamed by Karl Marx. this novel predicted the enactment of the graduated income tax, excess profits tax, unemployment insurance, Social Security and a flexible currency system.this was the blueprint followed by the Woodrow Wilson and the FDR adminstration in 1913 Wilson signed this bill creating the Federal reserve and later that same year, the Income Tax Bill.history has proven that on dec. 23, 1913 the Constitution ceased to be the governing covenant of the American people and our liberties were handed over to a small group of international bankers.

  • Mark

    There are a lot o negative signs out there.

    Micheal, have you heard?

    -Last year federal deficit is $5 trillion if US government was using gaap rules

    -China now has the ability to purchase treasures directly from the treasury dept.

  • GaryToo

    Michael i notice a trend in these comments becoming, more informed, more intelligent, more really relevant. More people exchanging ideas respectfully stimulating thinking, less of the same old circular arguments over same old divisions.

    This is an important place to stay sane and be reminded you are not imagining things, especially for those of us living where everything appears fine and not a cloud on the horizon and nobody could tell you what preparing is let alone being one.

    • Michael

      I am generally impressed with the level of comments that are posted on this site.

      I filter out most of the spam and complete nonsense, and I think the end result is a very good thing.

      And I learn a lot from what everyone posts. I don’t have time to respond to each comment, but everyone should know that I do read them all. And since the beginning of the site there have been almost 60,000 approved comments. :)

      Michael

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  • Ajax

    After the collapse, I forsee the U.S. breaking up into several sovereign geo-political economic zones. Despite the Federal government doing their best to keep the frazzled union together by imposing marshall law, they will fail. The feds won’t be able to pay the troops nor the police. Paper currency will be worthless and there is no gold at Fort Knox. The northeast will be reduced to burning embers and 80% of the population will die off via starvation and violence. The southern plaines region will fare the best with only 50% of the population dying off. All major cities will be death traps. When the shoe finally drops, try to convince your loved ones to grab their “bug-out bag” and head for the countryside. Pray for the best and prepare for the worst. God bless.

  • http://moneypowergreed.wordpress.com/ Steve

    Most Americans have no idea about the current crisis in Europe or Japan. The average citizen who has heard of these problems on mainstream media seem to have the impression that these issues will have little to no impact on them. Truth is that most of us who do not have “true” wealth on this planet are like people strolling on a beach with a fast approaching tidal wave coming. The waters will recede (the current global depression) and while the people may run …. very few though will not be swallowed by the wave that follows (coming economic collapse). An economy that is based on theoretical assets, money that only exists on balance ledgers and unethical plundering of working class citizens is doomed to fail.

  • Jen

    My theory is that while some people will be prepared, violence & starvation are the endgame to this coming economic collapse. Honestly, I’d feel safer in the uninhabited parts of the U.S. and to prepare beforehand the essential equipment needed to survive in the wild. This may seem like a radical and potentially suicidal solution, but if you study and buy the proper equipment beforehand this seems like a safer solution than having to rely on a food source that may completely disappear in the blink of an eye. Even if people did prepare, and they had a large quantity of food stored in their homes. Many of those who did not stock up on food will inevitably break into the homes of others, ultimately causing a chain reaction in that particular area where this break in took place. Instead, I would suggest getting away from the cities, and general areas with high populations. The country, and more so the wilderness isn’t so deadly should you prepare with dry foods, a magnesium fire starter, preferably a bow an arrow (for long term usage), an axe/machete, at hat for shade, rain coats, ect. For those who intend on staying put, I would suggest that you prepare for the worse by purchasing these simple survival tools in case you do need to leave your home when you run out of food, and/or under threat by others.

Emergency Essentials/BePrepared
Agora Financial
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