The Beginning Of The End
The Beginning Of The End By Michael T. Snyder - Kindle Version

The Prepper's Blueprint

The Mystery Of The Shemitah
Don't Buy Survival Food Until You Read This - If you stockpile the wrong foods, you could be setting your family up to starve. It sounds harsh, but the truth is too many people with good intentions are making critical mistakes with their food stockpiles. Watch this video now >>
The End of Obama? Approaching Obama scandal could change the White House Administration and our country overnight... Click Here
Gold Buying Guide: Golden Eagle Coins

Archives

Young Living Thieves Oil Spray

Four Reasons To Be Even Less Optimistic About The Global Financial System Than You Were Last Month

The cracks in the ice are getting bigger.  At this point it is really hard to have much confidence in the global financial system at all.  They told us that MF Global was an isolated incident.  Well, the horrific financial scandal over at PFGBest is essentially MF Global all over again.  They told us that we would not see a huge wave of municipal bankruptcies in the United States.  Well, three California cities have declared bankruptcy in less than a month.  They told us that we could have faith in the integrity of the global financial system.  Well, now we are finding out that global interest rates have been fixed by insiders for years.  They told us that Greece was an isolated problem and that none of the larger European nations would experience anything remotely similar.  Well, what is happening in Spain right now looks like an instant replay of exactly what happened in Greece.  So who are we supposed to believe?  Why does it seem like nearly everything that “the authorities” tell us turns out to be a lie?   What else haven’t they been telling us?

The following are four reasons to be even less optimistic about the global financial system than you were last month….

#1 PFGBest Is MF Global All Over Again

Do you remember that whole MF Global thing?

Do you remember how hundreds of millions of dollars of customer funds were “missing” due to “accounting irregularities”?

Well, it is happening again.

PFGBest is a brokerage firm in Cedar Falls, Iowa that mostly handles agricultural futures.

All hell broke loose when the National Futures Association discovered that a bank account that was supposed to be holding 225 million dollars of customer funds was only holding about 5 million dollars instead.

So where is the other 220 million dollars?

That is a very good question.

Of course it is not a promising sign that the head of PFGBest tried to commit suicide when this news came out.

A lot of PFGBest clients are going to be absolutely devastated by this scandal.  The following is from a recent Reuters article….

Farmers on Tuesday fumed at the prospect of financial losses, or at a minimum a lengthy wait for the return of frozen funds, due to alleged mismanagement at brokerage PFGBest, and some said they had been burned for the last time.

The U.S. futures industry reeled as regulators accused Iowa-based PFGBest of misappropriating more than $200 million in customer funds for more than two years, a new blow to trader trust just months after MF Global’s collapse.

Centered in the heart of farm belt, the firm handled agricultural futures accounts for a number of clients who grow corn, soybeans and cotton.

But it is not just PFGBest clients that are going to feel the pain of this scandal.

The truth is that this is going to deeply shake confidence in the entire global financial system.

Many dismissed what happened at MF Global as an “isolated incident”.

But now it is happening again.

Fool me once, shame on you.

Fool me twice, shame on me.

#2 A Third California City Goes Bankrupt In Less Than A Month

First it was Stockton.

Then it was Mammoth Lakes.

Now it is San Bernardino’s turn.

On Tuesday, the city council of San Bernardino, California voted to file for bankruptcy.

An article in the Los Angeles Times detailed the issues at the heart of San Bernardino’s financial problems….

The city’s fiscal crisis has been years in the making, compounded by the nation’s crushing recession and exacerbated by escalating pension costs, lucrative labor agreements, Sacramento’s raid on redevelopment funds and a city reserve that is tapped out, officials said.

While it would be easy to dump on the state of California (and that is something I have done quite often), the truth is that we are seeing municipal debt problems erupting all over the United States.

For example, the city of Scranton, Pennsylvania has such severe financial problems that the mayor of Scranton has ordered that all city employees be paid minimum wage until a solution to the crisis is found.

If this was television, Dwight Schrute would find a way to save the day for Scranton.

Unfortunately, this is real life and Dwight Schrute does not exist in real life.

#3 The Liborgate Scandal Keeps Getting Worse

We have been taught that we should all have faith in the integrity of the global financial system.

What a bunch of baloney that turned out to be.

It turns out that banksters have been colluding to fix global interest rates for years.

“Liborgate” is being called the biggest financial scandal in history.  Libor is important because it is one of the key benchmarks used to set prices for hundreds of trillions of dollars of loans, securities and derivatives.

British banking giant Barclays has already admitted that they were involved in manipulating Libor.

Barclays has already agreed to pay $453 million in fines to British and U.S. authorities.

But the truth is that it would have been totally impossible for Barclays to have manipulated Libor by themselves.

So who else was involved?

That was a question that was discussed in a recent article in The Economist….

Over the past week damning evidence has emerged, in documents detailing a settlement between Barclays and regulators in America and Britain, that employees at the bank and at several other unnamed banks tried to rig the number time and again over a period of at least five years. And worse is likely to emerge. Investigations by regulators in several countries, including Canada, America, Japan, the EU, Switzerland and Britain, are looking into allegations that LIBOR and similar rates were rigged by large numbers of banks. Corporations and lawyers, too, are examining whether they can sue Barclays or other banks for harm they have suffered. That could cost the banking industry tens of billions of dollars. “This is the banking industry’s tobacco moment,” says the chief executive of a multinational bank, referring to the lawsuits and settlements that cost America’s tobacco industry more than $200 billion in 1998. “It’s that big,” he says.

As many as 20 big banks have been named in various investigations or lawsuits alleging that LIBOR was rigged. The scandal also corrodes further what little remains of public trust in banks and those who run them.

So what does all of this mean?

The Wall Street Journal says that the credibility of the entire global financial system is at stake….

At stake is both the integrity of the world’s financial system and the credibility of the U.K. authorities to police it. Long before the current scandal, many European policy makers had concluded that London during the boom was the Wild West, whose loose standards are a threat to European financial stability. The Libor scandal suggests U.S. regulators have reached similar conclusions. The Commodities Futures Trading Commission, the U.S. regulatory body that first started investigating rate-fixing, left little doubt how seriously it regards the abuses it uncovered.

Once faith is shattered, it is incredibly difficult to rebuild.

And right now it is really hard to come up with a decent argument why anyone should trust their money to such a corrupt system.

#4 Spain Is Turning Into Greece

A central government drowning in debt?

Check.

A banking system on the verge of collapse?

Check.

Politicians pushing a forced austerity program that includes much higher taxes, much lower government spending and greatly reduced pay for government workers?

Check.

Wild rioting in the streets by protesters?

Check.

Let’s see….where have we seen this before?

Can anyone still possibly deny that Spain is going down the exact same road that Greece has gone?

Spanish Prime Minister Mariano Rajoy is proposing a huge slate of tough austerity measures including a 3 point increase in the Value Added Tax on goods and services.  If that 3 point hike is implemented, the Value Added Tax will rise to 21 percent.

Could you imagine going to the store and paying a 21 percent sales tax?

Ouch.

Rajoy is promising that these measures will get Spain back on the right track.

Of course we have already seen how well such austerity measures have worked in Greece.

The unemployment rate in Spain is already up to 24.4 percent, and now these austerity measures will slow the economy down even more.

No wonder there is rioting in the streets.  You can see high quality footage of the rioting that has been going on in Spain this week right here.  At one point police were seen firing rubber bullets at the protesters.

But of course the citizens of Spain could not live way above their means forever.  At some point every debt bubble ends, and when that happens the results are often incredibly painful.

This is a lesson that the United States has not learned either.  When we stop racking up more than a trillion dollars of additional government debt every year our “adjustment” will be exceedingly painful as well.

A little over a week ago, I wrote an article entitled “17 Reasons To Be EXTREMELY Concerned About The Second Half Of 2012“. I never imagined that things would get so much worse in just a week.

Everything seems to be accelerating these days.

That includes the decay that is happening in society.  A few days ago I made a list of 25 signs that society is falling apart, but then another story came along after I had finished my article that topped all of the examples in my list.  The following is how one man in West Virginia has been treating his wife….

During the conversation, according to the criminal complaint, Lizon’s wife told the woman that her husband had kept her chained up with metal padlocks and chains for about 10 years. The woman noticed scar tissue on the victim’s hands and ankles. Lizon’s wife told the woman that the scars were from the chains tearing into her skin.

Lizon’s wife told the woman that she and her husband were originally from Czechoslovakia, and that they live in Leroy, W.Va.

According to the complaint, the woman told investigators that the feet of Lizon’s wife were “mutilated and swollen,” one of which was missing a considerable amount of skin. Lizon’s wife told the woman that her husband smashed her foot with a bucket or scoop attachment of a farm tractor.

Lizon’s wife also told the woman Lizon called her his “slave,” and that whenever her husband entered the room she had to kneel down before him, according to the complaint.

Can you imagine anyone doing that?

Can you imagine any husband chaining his wife up for 10 years?

That is so sick that it is beyond words to describe it.

Unfortunately, that is not just one isolated incident of depravity in a world filled with goodness.

The truth is that the entire world system is saturated with depravity and corruption.

If anyone is willing to stand up for “the integrity of the global financial system”, I challenge you to leave a comment below explaining to the rest of us why we should still have blind faith in the system after everything that has happened.

I don’t imagine that too many people will even attempt to take me up on that challenge.

  • Rodster

    Spain just dropped the hammer on it’s citizens with a 21% sales tax…ouch 8O

    Spain Deepens Austerity Under European Pressure
    http://www.cnbc.com/id/48144383

    Socialism never ends well.

    • Jan

      … “21% sales tax…ouch” ?.
      In Denmark we pay 50 % incometax, AND 25 % sales tax !.

      • Michael

        Ouch!

        How do you survive?

        Michael

        • Paul

          Germany also has about 30% income tax and 20% go for health and pension insurance.
          Then 20% sales tax, and various other taxes like insurance tax, energy tax, alcohol tax, tobacco tax etc.
          1 liter super is EUR 1.60.

          Education is free up and including university (a token fee of 500 EU was introduced in some states a few years ago).

          Healthcare is paid by the insurance.

          Most expensive in Germany are transport and insurance. Private health insurance for seniors is 500 euros per month.

          But with a 36 hour work week and 30 days vacation and paid sick leave you won’t work yourself to death.

          And remember: Germany is the economic power house right now.

          There are about 4 trillion euros on German savings accounts.

          You have a meter for tap water and only pay for what you use. It is mandatory to insulate your house in order to save energy. -> 2 results: reduction of energy use and therefore less dependency on imported oil and gas; promotion of local construction businesses.

          Anyway, Germans are complaining about everything and anything. Nothing is good enough for them.

      • Rodster

        So this is the fabulous Nordic economic system Gary2 speaks so highly of? No thanks. :P

        • Gary2

          The Nordic system is WAY better than the USA system. They are beating us in just about every measure worth measuring–infant mortality, life span, crime education, much more equal income /wealth distribution.

          When people are given a choice of the Nordic system and the USA system over 90% choose the Nordic system over USA system when they do not know the countries with each system but just the system. This is a fact you can check for yourself. It is not my opinion. And no for the dolt who will tell me to move–this is my country and I want to change it to be more like the Nordic countries. This can be started by taxing the rich HARD and spreading the wealth.

          • Prepping for the Future

            Who cares what a little whiny nobody like you wants Gary don’t you get it. If it’s so great put your money where your mouth is and move. Because you are never going to get your dream here in America. Tax the poor HARD. Makes as much sense Gary.

          • GaryToo

            and get taxed hard yourself with a fine for urinating standing. Thats a FACT YOU can check. Does the incompetence/envious thinktank “research you dont provide a reference to include that particular in presenting the “systems” that the land of liberty allows men to stand and pee? The feminazi utopia for the useless does not???

    • Kev
  • Prepaired Painter

    “Everything is going to be ok”… everytime I hear the press or the gov say that I buy a few more cans of soup. Thanks for another great article!

    • Alasha

      lol

    • Jodi

      Be sure you have enough food for at least 1 or 2 years. Because you know what BO said a few weeks ago “The private sector is fine”

  • Rodster

    I do agree that things are accelerating so fast the news changes hourly. I’m sure the Odumber administration is hoping to keep the lid on the popcorn popper until after the elections.

    Man I would not want to be President of the US. All hell is going to break loose when the S.H.T.F.

    But since the DHS purchased 750 hundred million rounds of hollow point bullets i’m sure they’re waiting for Gary2 and his ilk to start some s**t. :)

    http://theintelhub.com/2012/04/16/readying-for-war-dhs-federal-law-enforcement-training-center-puts-in-order-for-more-ammo/

    • Paul

      How can a government buy stuff like that with empty pockets?

      If it were an investment – what kind of return is expected?

      So it is just more consumption in times of empty pockets?

    • Tim

      I think Obama and his wife have proven by their actions that they don’t care about America. It’s all about them. They love the lifestyle that their position as “The First Family” enables them to live. Look at all the vacations they’ve taken on our dime. I read yesterday that Barack Obama’s half-brother is living in abject poverty in Kenya.

      • Rodster

        They are the modern day Jefferson’s….. George and Wheazie”

        “and we’re moving on up to the east side. We finally got a piece of the pie”. :)

        • Gary2

          good one!

      • Paul

        Why do you focus on one man at the top?

        Is that the point of the Presidency in the US? Having one public scapegoat at the top, so that everyone below can fill their pockets unnoticed?

  • Angry Goyim

    Money = Debt. The minute the first unit of currency is printed+interest to a private central bank, more money is owed to the bank than is in existence. The system is doomed to fail from the very beginning. It is designed to confiscate the wealth of the people and put it into the hands of the money power.

    Reforms
    1.) No interest to a private central bank

    2.) No fractional reserve banking.

    3.) Limit governments ability to borrow.

    4.) The currency MUST be valueless.

    5.) Arrest the bankers and fire the government that allowed a private central bank. (like Iceland)

    • Stan522

      Love your reforms, but it will never happen….. the fox (government) is guarding the hen house (bankster’s). They will siphon off wealth from the rest of us until this is no longer wealth

      I’m afraid we are quickly reaching that point…….

    • Diane C

      In total agreement with Angry Goyim !!

    • Chris

      If we nationalised all the private banks and central banks and still kept the fractional reserve system would that work?

      • knightowl77

        If we nationalized the banks we would be Argentina or Venezuela

      • Paul

        I wouldn’t use the word “nationalize”. But next time the bank want to raise money, they should sell shares to the state. With a vote attached to each share.

        Anyway, to fix the financial system, I’d prohibit speculation with shares and bonds. Just trade them on nominal values.

        If companies need money raised, they can sell bonds for a fixed interest rate, and a fixed payback time.

      • Paul

        Since the debt was increased to buy arms for the wars, how about nationalizing the arms manufacturers.

        Then the state only needs to pay the wages and energy and raw material, but not the profit of the arms manufacturers anymore.

        The army over in Iraq and Afghanistan could be used to collect all arms and tanks and sell them as scrap metal to American steel manufacturers. That would boost the income for America and save energy since it is cheaper to make steel out of steel than out of ore.

        And it would reduce the number of weapons out there that could be used to kill American soldiers.

  • Klean

    “We the people” have had blind faith about everything for too long. Blind faith in religions, the banking systems, the standard of living, the education system, the post-secondary education system, the theory of marriage and children, everything is essentially blind faith. Believing in something you suspect or told to believe in or imagine doesn’t mean it’s real or that it’s good. There aren’t any guarantees anywhere or with anyone. The best faith system is instinct. It’s the most natural, primitive and honest system and costs nothing to utilize.

  • K

    The system is totally rigged, and corrupt to the core. The level of evil that is going on, is the worst I have ever seen. Just today, a husband and wife have an argument. Husband murders all three of his daughters. These stories are not even shocking anymore. Seems to be two or three of them every week. Evil is loose in this Country, in many forms. Just the beginning, I am sorry to say.

    • hmlover

      Just another reflection of the hopelessness created by selling the country down the river to the banks in 1913. This is what Wilson bought and paid for, the realization of his (and the Fed’s) vision. Countless brave people have stood up and pointed out the truth, and nothing has been done about it, so this is the price we will pay for apathy.

  • Rastus Banjolip

    Never fear comrades bolshevik Barry and his merry band of socialists will save us.

  • Alasha

    “PFGBest…. ” i wonder when this prob happened? I saw something on tv that their ceo tried to kill himself but not discussion as to to the prob. incredible. honestly, this one is WAAAAAY under the radar. geez

  • Quiver

    What is surprising to me is that societal collapse is happening at the local level first. This indicates that the power of government does not rest with the people. It would be logical that the level of government with least amount of power over the people would collapse first. The order should be Fed, state, local for societal collapse. Instead we are seeing state or local, local or state, and finally Fed (maybe). In Greece we see one level further on the societal collapse scale: the collapse of the family, the smallest unit of government.

  • http://frugallivingonthewatkinsranch.blogspot.com Ranchers wife

    Thanks for another great article. Working extra hard to get all the prepping done I think the time to be ready is getting shorter and shorter everyday.

    • Michael

      All of us can only do what we can with the limited amount of time that we have.

      Michael

  • Alasha

    aww. what a cutie pie pic. u just want to do EVERYTHING to protect the babies.

    anywho – a month ago Daniel Estielin of Bilderberg fame said he was surprised how FAST Spain went to “hell in a hand basket” and was contemplating moving…

    starting at 10:55

    http://archives2012.gcnlive.com/Archives2012/jun12/AlexJones/0619122.mp3

    mmmmmmmmmm

  • Dianna

    .

    Quote: ” Centered in the heart of farm belt, the firm handled agricultural futures accounts for a number of clients who grow corn, soybeans and cotton. ”

    Interesting this is centered in the farm belt/heartland just like the current heat wave and drought.

    .

  • http://Theeconomiccollapse Gregge Johnson

    DEPRAVITY:::::: Only Theologians use that word. It is the ugliest traits of the human race!

  • Snowleopard

    No surprise that noone wishes to defend the “system”. Looks like there are cockroaches everywhere.

    Many of us have suspected, but it looks like soon we’ll have proof of an international kleptocracy. All markets rigged at all levels to rob the many for the benefit of the few, directed by the major banks and managed by the central banks.

    Smaller financial companies are joining the party, stealing like there is no tomorrow! Maybe they know something we don’t! Or maybe they know the regulators are a joke and which politician to pay.

    Abolishing the Fed might be a good start, but it won’t fix this. I’m not sure it CAN be fixed. All the major banks have to go, totally liquidated, and no one who worked above teller in any of them can ever work in banking after they finish their prison term! All the crooked politicians need to do their time; but the prosecutors are part of the club, so who will bell the cats?

  • mark

    In your article titled Kicking the can down the road, I thought the the rates on Spain’s and Italy’s bonds would rise back up in less than two weeks and sure enough it only took a week or so. All of the little repairs they try do not work for very long any more. But never fear Uncle Ben will print more fake money and hand it out as fast as he can. They just can’t fix a debt problem with more debt. Remember this that he will only hand the cash out to their friends and leave us holding the bag. When the system implodes the common man should say enough and let the defaults begin. It will be painful but it will be a darn site better than being a serf to the banksters for many years.

    • Michael

      Good points.

      Michael

  • mondobeyondo

    The global financial system is a house of cards built on a foundation of quicksand. We don’t have much time left, folks.

  • Mick68

    Cracks have been patched with bondo and tape for years, but now those cracks are turning into massive holes and those holes are gushing faster than anyone can stop. Liborgate will crash the entire banking system for the simple fact that there’s an equal and opposing force on the other side that will ensure the fight happens.
    Namely, greedy, self interested lawyers. What better dog could be pitted against these bankers than lawyers?

    Anyone think lawyers are going to pull punches or back off when there’s billions at stake? Me neither, they’ll go for the throat.

  • Oldphart

    “While it would be easy to dump on the state of California”

    Please, go right ahead. They’ve been taking a dump on me for over fifty years.

    • hmlover

      Amen to that!

  • Gary2

    The real reason businesses aren’t creating more jobs is American consumers — whose purchases
    constitute 70 percent of U.S. economic activity — don’t have the money to buy more, and they can no
    longer borrow as before. Businesses won’t invest and hire without consumers.

    Suck on this conservatives who play the uncertainty bs about why business does not hire.

  • Gary2

    Michael–I think I can safely assume that is NOT you in the bottom picture. I guess you get a pass on this one.

    • Michael

      Thank you.

      Michael

  • Paul

    At least in Greece the government now started to collect taxes …

  • Paul

    “Could you imagine going to the store and paying a 21 percent sales tax?”

    That’s the usual rate in Europe. UK has 20%, Germany has 20%. Sweden has 25%.

    • Gary2

      can you imagine free education/free haelthcare-30 days of mandated paid vacation etc etc etc…

    • DB200

      Well, yes, that is for stuff you buy with a receipt. Without any receipt you pay 0%. And Southern Europe’s economy is for a big part based on a no-receipts structure. That’s why these governments never, ever will collect enough tax to pay back the debts.

  • Colin

    The minutes of the June meeting for the Federal Reserve show that the members are divided on what steps to take next. Some argue for immediate action, while others argued for a warranted action when “…the recovery lost momentum, if risks became more pronounced or inflation seemed likely to run below the committee’s target.” When the minutes were released, the investors expressed their lack of confidence in the Federal Reserve by sinking the stock prices by an additional 112 points.

    http://www.huffingtonpost.com/2012/07/11/federal-reserve-economic-crisis_n_1665624.html

    Bill Gross, a co-founder of Pimco, predicts that next year that the unemployment rate will be over 8.2%. Mr. Gross believes that the Federal Reserve’s efforts are having less of an influence on the path of the economy. In his opinion, as the interest rates continue to descend to zero, there will be negative connotations for the economy. These include hurting the “…money market funds, banks, insurance companies and pension funds that are typically used to higher rates…”. Lower interest rates may lead to higher leverage and to the Fed buying long-lasting Treasury bonds to keep the interest rate low, in his opinion.

    http://finance.yahoo.com/news/higher-us-unemployment-pimcos-gross

    I would say that the Federal Reserve is becoming increasingly lamed by this economic crisis, and I think there will come a point where this agency will be unable to do more than watch the economy burn, such as Rome in Nero’s reign.

  • Paul

    Germany has an energy tax.
    Germany has a mineral oil tax.

    So basically at the pump you pay three kinds of taxes.
    Currently the liter super is about EUR 1.60
    In Germany, diesel is cheaper than petrol.
    In UK diesel is more expensive than petrol.

  • chiller

    Here is a very interesting timeline of our nations finances, complete with historical events for the past 200 years. It shows the year, dollar value, cpi and inflation. Notice the first 100 years are relatively stable with normal swings due to growing pains and conflicts. The second hundred years are quite another story after the diabolical Fed is enacted. The dollar value drops and cpi goes up. No matter what the historical event during this period, this trend continues. One would think that after WWII, with the US the only one left standing, our economic boom and the economic power house of the world, our dollar would rise…no…it went DOWN! The British dominated FED saw to it we would pay for our desire to be free from them using this insidious plan to suck our country dry..thank you Woodrow Wilson for bringing them into existence. I used excel to chart out this data and it becomes VERY CLEAR how we have been slowly, systematically drained of our nations prosperity.
    Here’s the link:
    http://mykindred.com/cloud/TX/Documents/dollar/

  • http://focuszing@yahoo.co.uk Wake Up And Smell The Coffee

    The worlds religions have untold billions of pounds given by both poor and rich people for years, in other words why dont they release some of their wealth to help people in their communities? They are quick to take peoples money even turning up at their houses not out of concern for their flock but wanting their “wages” Hypocrites!!! Ah well if i was a government who was severley strapped for cash, i know exactly were i would turn my attention…

  • I’mhere

    A google search on the “Jesuits” will tell you many many interesting facts on just who is pulling the strings.

  • markthetruth

    Well the reality is

    you have God in one ear

    and the Devil in the other (promising you everything)

    unfortunately people have been listening to the devil, and the more it looked like a good thing the more joined in,even church going people ended up tempted and listened to the devil.

    Now God will just watch us destroy the earth he built for us , and everything he has given us to follow his message, because we choose to be greedy and decided to listen to the devil.

    Once it is destroyed, we will have the chance to change back and follow the almighty God and live within our Faith. Burn the kindle and iphone and pick up the bible, And follow the true Leader.

    the end…

  • Whackadoodle

    Not a problem. Just part of the process required to reduce our numbers to about a billion. Once we arrive at that number, maybe we will have learned to control our humping, polluting, and eating. If not….we start the cycle again…

  • pete

    Mostly people don’t come up here for the hunting….I guess?

  • shypuffadder

    I agree with Rodster. All hell is breaking loose and we should just sit around and take it because we should always respect our bankers. Let “Gary 2 and his ilk” demand fairness and change. The rest of us will just wait to be flushed down the toilet while the media tells us to keep smiling. Rodster, have you already picked out the turd that you are going to use as a raft?

  • Ameen

    On this morning’s news out of Greece: overall unemployment is now 21%….

    • Paul

      Did they all depend on the state for employment?

      Such economy is unsustainable.

      The state needs to make legislation for the benefit of the country, and then the businesses shall work things out and provide goods and services and employ people.

      Lets see:
      Army to secure the oil is expensive.
      Resulting policy:
      – save energy
      – recycle materials
      – develop sustainable economy
      – develop renewable energy and material sources
      – reduce dependency on oil

      Result:
      Consume less fuel, material, ammunition
      Pay less to foreign states
      increase wealth of own nation

  • paula

    The absolutely crucial thing to do is…”get your spiritual house in order”, in the scale of things…nothing else matters!

  • Excalibur

    “… I challenge you to leave a comment below explaining to the rest of us why we should still have blind faith in the system after everything that has happened…” It would seem obvious to those that are really paying attention that you shouldn’t trust any aspect of financial institutions. But blind faith will continue for millions of people who aren’t paying attention, or don’t want to pay attention because they may believe that a regulated system will protect their cash through programs like the FDIC for example. I hardly believe there are only 2 brokerage firms that have stolen money from people’s segregated accounts. If the NFA isn’t auditing every brokerage firm at this point, then I would say they are accomplices to the criminal activity.

    I’ve been reading reports of banks not even actually holding the gold in people’s segregated accounts that people are paying them to do. Their gold is being leased out to other institutions! If they can raid your gold, what is preventing them from raiding your bank account?

  • http://Economiccollapse End time servant

    Today again you tell truth in detail you cannot trust lucifer orvanynof his minions which grows daily the poor souls in this world are suffering in every country because the graceof god they to as America thru out now you will be reporting daily more serious and terrible things until you will be shut down not to be funny but the show is just beginning start standing sheeple but first knee to god then knee and pray,pray,and keep praying

  • kerrey ellen

    Blind faith? Who tells you to have blind faith in the system? that would be crazy. I have faith in the good Lord in Heaven and I have faith in myself. look up the word “system”. Be a free thinker. work hard. be good. be well.

  • Bolshy Yarbles

    We’ll have to stimulate the economy comrades. That means more taxes but it is for the good of the collective so pay up.

  • Rodster

    Some California cities ‘may cease to exist’…

    http://www.latimes.com/news/local/la-me-san-bernardino-bankruptcy-20120712,0,2433019.story

    “Facing the same financial stressors that pushed San Bernardino toward bankruptcy, cities across California are slashing day-to-day services and taking other drastic actions to skirt a similar fiscal collapse.”

  • Tom

    Everyone should put aside their prejudices and try this for a most excellent bipartisan rant – http://web.gbtv.com/media/video.jsp?content_id=22982335&source=GBTV

  • curious george

    Those responsible for fixing the problems are those who created and benefit from the problems. There will be no improvement for the masses; there will be more taxes.

  • brentster

    1st Greece, now Spain; when will we see the same in Italy and Portugal?
    My main goal these days is paying off my debt before things turn over here due to the Americans!

    • Paul

      I am still waiting for the Euro to fall further, so I can get more of them with my dollars and pay off the debt faster.

  • Denis Roy

    read this from the Bible…
    2 Timothy 3:1-5

    3 But know this, that in the last days critical times hard to deal with will be here. 2 For men will be lovers of themselves, lovers of money, self-assuming, haughty, blasphemers, disobedient to parents, unthankful, disloyal, 3 having no natural affection, not open to any agreement, slanderers, without self-control, fierce, without love of goodness, 4 betrayers, headstrong, puffed up [with pride], lovers of pleasures rather than lovers of God, 5 having a form of godly devotion but proving false to its power; and from these turn away. 6 For from these arise those men who slyly work their way into households and lead as their captives weak women loaded down with sins, led by various desires, 7 always learning and yet never able to come to an accurate knowledge of truth.

  • Buzzy Watts

    I has occurred to me that “they” may not all want us to believe them–that they may actually want us to protest and resist because it would make them feel bigger and more powerful. After all, if the people are angry that you’re above the law, it means that you’re a big enough dog to be above the law.

    Being the object of mass discontent must have its perverse allure, kind of like what leads people to intentionally waste extra electricity on Earth Day.

  • Rowell

    Circling the Bowl.
    Beyond the Point of No Return.
    Fall of the Empire.
    End of the World as We Know It.

    You can use any of the above statements to describe what is coming soon. People pointing fingers at Greece and Spain, saying “This is what happens to Socialists”….you people are idiots. Rampant, unregulated Capitalism is just as bad. All one needs to do is look at our economy to see that almost all of the money in concentrated at the top. All you need to do is look at the news to see that the Bankers, the Brokers, the big Corporations and the Wealthy will get the bailouts…while the costs are passed down to the poor and middle class. How can you say socialism sucks so badly when you’re being financially and economically raped by capitalism, and will eventually end up in the same position as those socialist countries?

    We’re in the end game. The people in power and with the wealth are making their final moves to get as much wealth as they can before the currency and the economy collapses. After the dust clears, they’ll be sitting on land, supplies, assets, food, etc…while we the average people are left wandering in the riot torn streets, wondering what happened.

    Democrats are not your friends. Republicans are not your friends. Capitalism, banks, financial firms and corporations are not your friends. They’re all in collussion with eachother to make as much money as they can. The sooner people wake up to this fact, the better off we’ll be.

    • hmlover

      And so your solution is…. what?

      • WOBBLeS

        As always comrade! ********* the captitalists and theologisists!

  • nowwthen

    Anyone who regularly reads the informative articles at The Economic Collapse knows we are up the rapids without a paddle. When it comes to solutions the best offered so far is the plan devised by Alan Simpson and Erskine Bowles who headed The National Commission on Fiscal Responsibility and Reform. It was designed to both raise revenue and reduce spending with the least amount of negative impact on citizens across all economic levels. It is, in short, a workable compromise. The president in February 2010 charged these two men, Simpson a past Republican Senator from Wyoming and Bowles, who served in various capacities for 5 years in the Clinton administration 2 of them as Clinton’s chief of staff, with finding ways to reduce the debt and deficit. Ten months later they presented their bipartisan plan which has gone exactly nowhere. On one side we have the Tea Party who’ve signed a pledge to Grover Norquist to never do anytinng that remotely resembles raising taxes. On the opposite side we have so-called advocacy groups like the AARP feeding the fears of nervous seniors that they will lose their medicare and social security. I think this fine blog along with some of Michael’s others would do the country a great service by helping to spread the truth regarding the benefits of implementing such a plan.

    If more people were made aware of the specifics of Simpson Bowles and less influenced by all the political posturing that has distorted both its content and its purpose we might come close to a consensus on what needs to happen if we’re ever going to put the Country back on track.

    But, hey, who cares about trivialities like a $16 trillion national debt or the fiscal cliff we’re headed over when we can follow Katie Holmes’ new life in New York City?

  • self-emp

    I am a little baffled by the Libor scandal. Now we are finding out that banks colluded to effect the Libor rate. Ok. But really where did anyone think the Libor rate came from initially? Created by some natural and supposedly objective force?

    No, it was always an economic manipulation.

    What? Now we are surprised that international banking systems are in in touch with each other and affect international banking rules, regulations and policies?
    Really?

    We are really surprised that much of economic policy is made behind closed doors without a voice heard from the consumer?

  • leglze_freedom

    i have been in the financial services industry for 7 – 8 years and about the only defending of the industry i can make is that we get great medical & dental benefits…kidding aside, i see the underwriting loosening up again, as if they are inviting a repeat of 2008. i am fortunate to share an office with one of the top 1000 financial advising groups in the country according to Barron’s magazine and a couple of those guys have voiced their concerns to me and have asked me about my prepping strategies, to help protect their family

  • Peter B

    Currency has no value? How do you think we got into this mess? Currency must have value or we just go around the merry go round again. Two ideas: gold and/or silver.

    We could ask for integrity in our political and financial systems without which this is all pointless, but lets just start small. Currency = Money = Silver based. Just ask Diocletian. He tried the fiat system/fascist methods and they didn’t work so well for him either. And now 1800 years later we all stupidly think this will work this time as long as we just do more of it. Thanks Paul K. Sheesh.

  • Karen

    Well Obama has warned the banksters to prepare for a collapse you can find the info on whatdoesitmean in the article Obama medical team first article on there site there is an article on Alex jones where the military now controls. The spraying of bugs what they are doing is using c130s to spray chemicals to make you sick nano tech the article in whatdoesitmean says the us health department has more authority than the military which means the health department will deam if you will be quarintined why would the military now spray skies in Florida just think hard on that question

  • commies get what they deserve

    Hey we should all pitch in and get Gary a teleprompter so he can read old tired Marxist tripe like his hero sobama.

    • HecatesMoon

      I remember we had learned about Marx in school- just a basic quick touch upon Marx and socialism and all that and it was of course portrayed only in a most negative light.
      My dad said something one day, and I made some remark about what a bad guy Marx was, though I don’t remember exactly what it was that I said. Hooooly cow, my dad about bit my head right off!
      I went on and taught myself a little more about things after, the WHY behind socialism, etc.
      Gary, here, is a bit hostile, but so are a lot of people here really.
      Still, I think overall Gary means well. He doesn’t want to see people that don’t deserve to suffer, suffering. He doesn’t want to see honest people hurting and cheaters winning.
      At least that’s what I think he thinks. :P

      • Gary2

        thanks–you thought right! :)

  • jox

    Some facts about Spain:

    – Before the crisis there were a budget surplus, not deficit. So please correct the “the citizens of Spain could not live way above their means forever” mantra, because is not true. The crisis has caused the deficit, not the other way.

    – Right now the public debt of Spain, both by GDP or per capita, is less that UK, France, Germany, and of course United States.

    – The VAT tax was higher in other European countries than in Spain. The recent move only puts the Spain tax in the average. In UK, for instance, is 20%.

    – There is not ‘rioting’ on the streets. Indeed, the situation is quite calmed down. Obviously, in a country with 40 million people, there are some isolated incidents here and there, but very far from a generalized rioting.

  • http://Survive2balive.com GA

    It’s all a ponzi scheme that is going to collapse. Makes Madoff look like a cub scout. Prepare your beans, bullets, and band-aids now (and bullion) its only a matter of time until we can no longer pay our debt with more debt.

  • http://www.youtube.com/my_videos?feature=mhee robert

    What we are really seeing is conclusive proof that voting doesn’t work. In the early stages of a republic, it can be effective. But positions of power attract people who want to control others, and as governments develop over time, the only people running for elective office are those possessing a certain type of sociopathic bias. Police jobs attract people who like to use force, and who don’t think for themselves but just obey orders. They believe it’s not good to subject themselves to limitations, and they themselves commit all sorts of crimes in support of their cause. This is why it appears inevitable that ordinary people are going to end up being clobbered into submission, or that persons in power will be violently overthrown. I don’t advocate either of these outcomes. I am only telling you what I am seeing.

  • HecatesMoon

    Gary 2!
    I have been thunkin’. Bad business I know and it tends to fill the house with the smell of burning meat. ha! But, I have a question out of genuine curiosity, and I would like for you to be the person that answers.
    Suppose the United States went full on socialist. We have plenty of people who would not want to contribute, that wouldn’t work as hard as others simply because they don’t want to.
    What would be done with people that just would not contribute to the overall good simply because they didn’t want to?
    Like most people use the example of being in a factory setting and one person working really hard while another person sits and does nothing, doesn’t show up for work half the time, yet they are still given the same.
    What would be your solution to remedy the situation?
    I don’t know why I started thinking on that, but I did.

    • Gary2

      I think the best approach would be a more socialist/with a big dose of capitalism. Here is what I mean: Capitalism does a great job generating wealth. No one can honestly dispute this. However, capitalism does a horrible job at distributing that wealth. Again I do not think this can really be disputed in light of the 1%/top 400 richest having more wealth and income than the bottom 155 million and the many other examples. With concentrated wealth comes the power to purchase government and to use it to “rig the system” to enrich the rich at the expense of everyone else.

      Up until about the mid 1970’s wages rose along with productivity which seems fair to me. Since then wages have stagnated as the rich have engaged in productivity theft and started keeping more of the wealth the workers made, again using the government they were purchasing to facilitate this productivity theft.

      Many will blame globalization/poor education and there is some merit to this, however, many other countries faced these same issues and have a much better result–think the Nordic countries/Germany etc. The Nordic countries are not socialist but are a mix of both socialism and capitalism, using the best parts of each to balance the worst parts of each out.

      So to answer your question directly–those who do not contribute (IE sit on their fat ass and watch TV all day) would have a basic level of safety net program so they did not starve in the street and also have every opportunity to better themselves (free college/training etc.) free rehab for drug addiction etc. basically help with barriers to employment.

      Given that the abuse of our current meager safety net programs is about 3%-5% (meaning 95%-97% is put to good use) This would also most likely be the % of slackers in my scenario above. I believe it would be closer to 2% to be slackers if we worked on the barriers to employment. I could live with this 2%.

      Sorry for the long answer but you asked a good question.

      • HecatesMoon

        :) Not too long at all, Gary2.
        We have tried just about everything as far as types of government go, and none of them last. You can never trust putting a small group of people in power. They will always go too far- no balance.
        We need some way to balance whether those in charge like it or not.
        2% isn’t bad.
        Thank you for answering. :)

  • Donald Wilson

    The entire is corrupt. That is the very reason I cashed in my 401K after I retired in 2006, I knew something bad was coming. Good luck everyone.

  • erheault

    Ahhh Now you mean we cannot trust Captain Zero and his merry band of Bankers? Come now we will have a Chicken in every pot and Happy days will be here as soon as he is reelected.
    Meanwhile we had better start to get use to a faling standard of living and a job shortage for quite a few years.

  • Loop Garoo

    Looking back on these last 4 decades it will be decided that TV killed America and feminism helped. Most married men are pussies and will not stand up to their wives. Divorce laws have men at a big disadvantage. Bottom line: It is too late to fix America. Time to party. Spend your savings before the Arab takes it.

    • hmlover

      So, if we outlaw TV and go back to beating our wives, everything will get better?

    • Paul

      Are you a virgin?

      Did you never learn to please your wife such that she is fulfilling everyone of your wishes for want of more?

      • Gary2

        no I think he does have a sore hand though….

  • MJS

    Michael, what is going on with the riots in Mexico. Please update us, because the lamestream media won’t.

    • Michael

      I will have to look into that.

      Michael

    • Prepply

      Are you trying to get him targeted? Anyone who reports (it seems) gets killed off. D:

  • Frank C.

    Excellent piece Michael…
    Truly frightening times we are living in…
    no doubt the end is near…

  • Pitchfork Ready

    Sniff, sniff, smells like another round of QE is coming.

  • Jon Q. Public Menace

    Michael, thank you for being a beacon of honesty, that we don’t see at all in the lame stream media. In a world gone mad, you tell it like it is. My steets are littered with homeless people, that I pass everyday on my way into work… It’s sad, and no one at all is talking about the rotting hell that our society is truly becoming, except for you. Thank you

    • Michael

      Jon:

      You are welcome. From my little corner of the world I do my best to help wake people up.

      Michael

    • JACK

      Honesty at a Price, hey Michael.

  • lee

    I’m on record posting here in other blog postings that Europe will not fall apart until at least 2013, so the US will still muddle along; however the city defaults will be interesting.

    If cities find its the only way to become solvent, the US may see a rash of them on smaller cities that arent big enough to get state or federal help and i could see that turning all of America into riot and crime zones as police and fire may not take too kindly having their pay stripped at the same levels of the local librarian or sewage plant operator.

  • McKinley Morganfield

    The can will be kicked for a while longer. But when the first big bank or sovereign entity is declared bankrupt, panic and hysteria will rule and it will be ashes, ashes we all fall down time. Personally, I’m long on water, food, fuel, seeds, ammo, and silver.

    • GaryToo

      I think so, a trigger event in the us will cause panic to spread like wildfire in the rest of the world.

  • jsmith

    Angry,looks like you figured out who the money power is! Most Americans are clueless. By their changed last names thou will know them.

  • Chris

    All the points you listed above but particularly 1, 3 and 4 could be used along with other justifications for scrapping the present system and introducing a new global system. However since many people including myself do not buy the line of greed and incompetence and instead believe that this crisis was not only foreseen but planned you have to ask what will ‘they’ try to implement as the ‘solution’? It would be better to stick with the present system and clean it out thoroughly from top to bottom to remove corruption than to claim there is nothing we can do and implement some form of fascist totalitarianism on a global scale run by the same people.

    • Paul

      You should have learned something from the USSR and Estern Europe:

      You cannot scrap a system and introduce a new one.

      For a corrupt system to exist you need three:
      One paying the bribe.
      One taking the bribe.
      One to look the other way.

      You can also blame a lot on non-voters, who do not care what happens and leave the nation to those who got you where you are.

      There are just too many people around who do not take ownership of their family, their neighborhood, their nation, this earth.
      Ownership in the sense of improving, investing.
      Not in the form of exploiting, discarding.

      There are still people around who think they own their children and wife and have the right to beat them. They also neglect their property and steal from others.

      Those people need to be discovered and isolated. They do not play their part in increasing common wealth or solving problems.

      They shall have as little influence as possible.

  • Patrick Henry

    If you still have paper backed assets (stocks, bonds, 401k, etc) you are a fool. You should have gotten out long ago, but there is still time. Take your 401k out with the penalty. Better the 20% hit than a 100% loss! Buy physical silver, not the paper promise. If you don’t hold it you don’t own it!
    If you can’t get out of your 401K, then get the max loan on it and purchase physical silver, do it today!

    • McKinley Morganfield

      I agree with physical silver; but before silver there is water, food, fuel, seeds, and ammo.

  • apeface

    Globalization removes all firewalls so if the economy in country Y gets sick country X catches it as well. Hopefully everyone realizes what a scam globalization is by now.

    • McKinley Morganfield

      There are no firewalls and that is the way the big banksters like it. The regulators and the manipulators and sharing the same bed.

    • Paul

      Well, you can’t develop capitalism in one country only. For capitalism to develop, you need to expand. There is no other way.

      Either expand or die.

      Capitalism cannot grow without ever more slaves.
      Spain, Italy, The Netherlands, England, France – they all had their colonies.

      Later America and Germany.

      After WWI Germany got her slaves from Poland, the Sovietunion, any undesirable. After WWII, there was an influx of foreign workers to Germany from Italy, Portugal, Spain, Eastern Europe, Turkey, Greece.

      America couldn’t grow without the influx from the South and overseas.

      All those slaves living at the bottom with bottom income.

      China is another source of foreign cheap labor, as is India, Bangladesh, Indonesia, Nigeria, Brazil, etc.

      Another source of fast cash is debt.

      The only aim of capitalism is to produce PROFIT.

      Now matter how.

      It’s basically a big money laundering machine.

      Input:
      Colonies, Chinese, Debt

      Output:
      Profit

      exchanged for Gold and REAL estate for any price.

  • A J

    Thank you for your continued research and these valuable articles. I am so glad for my Savior the Lord Jesus Christ. I can’t imagine how I would despair if I did not have this faith.

    God told us that there would be godlessness in the last days (read 2 Timothy 3:1-5). I have such a burden in my heart for the lost and pray that people would put their trust in the Lord and not in the things of this world. As we can plainly see, this world is falling apart. The Bible tells us that a man of sin, the Antichrist, would arise in the last days and that great power would be given to him for a short time. He will speak great things and blasphemies. People will flock to him as the messiah, but he will be a false messiah (false Christ). Think about it, at what point would people relinquish national soverignty and hand control of the world over to one man? When that is the best option. When times have increadibly bad. He is not revealed yet, but he will arise.

    I believe we are very close to the end time, that things getting progressivly worse, and there is nothing man can do to stop it. Economic problems, made worse by natural disasters and food shortages, the increase in humanism, pagan spirituality, false religion, and the list goes on.

    Get back to the Bible, the source book of truth. I do not ask anyone to take my word for any of this. Check it out for yourselves. Read the Gospel of John, 1 chapter per day, only a few minutes per day. It will take 21 days. And before you read pray and ask God to show Himself to you through His word. He promises that if we ask according to His will, we will receive. If we seek Him, we will find Him. If we knock, the door will be opened to us. Salvation through Jesus Christ is a free gift that is received through believing and faith. Faith in Christ alone, and not in ourselves.

    Be blessed.

    • Michael

      AJ:

      Very good comment. May you be greatly blessed today as well.

      Michael

    • http://NA Tim Onorato

      Good job. Excellent

    • Bill

      Right on brother- Praise God

  • markthetruth

    Michael: proof that you are about facts, and just the facts , done with you research

    and you reality check and common scene to see the path something is on. When
    facts are compiled and analyzed in the way you do is only the truth of

    the matter . Not Speculations and Lies of the crooked media.

    http://news.yahoo.com/blogs/lookout/us-natural-disaster-area-drought-150130308.html

    thanks

    Its the same way i look at things,
    show me the facts!!!!!

    the end.

    • Michael

      Thank you for the kind words. I try to be as accurate as I can, and I try to back up what I am saying with facts and documentation.

      Michael

  • C

    Yep, the solution is more debt, more loans, more interest, more credit, more banks, and more foolish leaders. More poison in your food, more poison at the doctors office, in the air, in your water, in your head. The sooner they bring it all down, the sooner mother earth can start anew. In the meantime, free your mind, and go smell the flowers before they wilt, don’t forget about the sunscreen.

  • TheRandyGuy

    First, anyone reading the articles on this site is already better informed than 75% of the public. Most people have no clue how bad things are and how much worse they will become relatively soon. As for the Biblical stuff, prophesy tells us how it is going to end. Prayer won’t change the outcome. We will be punished for our sin and the process is going to be the worst in human history to endure. Well written, Michael.

  • Cinderella Man

    I am convinced the world is going to end this year.

    • McKinley Morganfield

      ;-) The world is not going to end, everyday life as we have known it for the last 50+ years is about to end. Adjust as best as you are able.

  • hmlover

    Quite frankly, I’m just hoping that I’ll be first in line when they decide to use those 450 million bullets they bought to keep us under control. There is no hope for humanity until at least 3/4 of us are dead and gone, so I’ll just volunteer to be one of the first to go. I’ve no desire to live through the miserable times ahead.

    • Zedge Hero

      What happens if Billions are wiped out and the remainder millions prosper into the next golden age of Science and technology? Prep, don’t just give up!

  • Piglet

    I’m reminded of John Cusack’s character in the film “2012” about the end of the world. He was racing to his ex-wife’s house to get her and the kids to fly out of the state before things erupted, and his wife, believing the soothing words of the lying governator, disregarded what Cusack’s character was trying to tell her. He responded with, “The guy’s an actor! He’s reading a script! When they tell you not to panic… that’s when you run!”

    Returning to today’s column, we’ve been told not to panic, that all is well. Indeed, it is time to run.

  • http://survivalrealestate.com TJ Jackson

    Michael,
    Thanks again for the information. My theory is that these problems will grow and develop and then the bubble will burst. I fear desperately for the people that do not see that this bubble is growing. I fear even more for the people that I will have to turn away and send them on their way as my 30 year preparations only go for my children and grand children. There will be difficult and desperate times in the near future. Thanks for helping us unravel the mysteries.

  • Keith

    My heart is broken over what I see, read and hear about my beloved Country. I understand that all this must come to pass because these are the last days of mans rule, but it still hurts deeply. If the Lord gave me a two edged sword and told me to go forth and destroy evil, that I would have nothing to fear because they can’t hurt me…I would destroy all Governments and the idiots that run them. But…I will wait for the Lord to do it, then people will believe in his word. How I long for our Savior to be here and end this idiotic way of life. Patriotism is dead, our own kids don’t even know what a founding father is or who we gained our freedom from. We can’t have prayer meetings in our own homes, God is being taken from us…except in our hearts. I could go on and on, but you all know that we are waiting on the Lord JESUS to take us out of here…please make it very soon.

  • jim

    I recall aqn old SAM Kenison skit where he was railing about the starving Ethiopeans living in sand. You can’t grow food in SAND he yelled. PAPER, the whole world is going to SH>> over paper. Write it all off and no one loses. Those who paid for the paper at it’s real worth, cents on the dollar, have been compensated billions no trillions of times over so they lose nothing. Where am I wrong?

  • NorthernCanuck

    Hello, Michael. This is off-topic here, but I have just sent to your *************** email address two photos, one a slightly zoomed version of the other, showing the water level drop in Lake Ontario, just west of Toronto. I took them yesterday.

    Just look at the dark water level marks on the rocks! The lake level must now be down by several feet at least!

    Lake Ontario is a huge lake, and is the last in line of the five connected Great Lakes before the water pours out into the St Lawrence River and runs down to the Atlantic.

    If this amount of water has disappeared across the surface of all five Great Lakes (and Lake Superior is virtually an inland sea), then this gives a terrifying idea of both how little rainfall we’ve had and how fast water levels are dropping everywhere as a consequence.

    I took the photos and own the copyright, so feel free to publish them as you wish if you do an article on the current drought and increasing water scarcity. The copies I sent you are in slide format – let me know if you need them in another format if you would like to use them illustratively.

    Keep up the excellent work – it’s much appreciated!

    • Michael

      I haven’t received the photos yet. You might want to check if you got my email address right. :)

      Michael

      • NorthernCanuck

        I’ve just re-sent them. I double-checked the email address so hopefully they’ll arrive this time!

  • stevefraser

    Want to cure Wall Street of its addiction to fraud….Bring on RICO

  • stevefraser

    And start the RICO indictments at Goldman Sachs, followed by all the firms J. Corzine has been associated with.

  • JR

    Let me take a WILD guess… the head of PFG Best is an Obama supporter, right? I would LOVE to lay money on that bet. Would be a much better way to make money that in the destroyed economy Jimmy Carter Obama has left us.

  • DEFCONStudios

    Michael,

    The question will be “Where were you when the system fell apart” 30 years from now. Policy makers will try everything to delay and stall the inevitable. As Nouriel Roubini said they will try and pull every ‘white rabbit’ from their hat. In the end all Debt returns to it’s original value. Here are some great quotes:

    “The problem with fiat money is that it rewards the minority that can handle money, but fools the generation that has worked and saved money.”

    – Adam Smith

    “At the end fiat money returns to its inner value—zero.”

    – Voltaire

    “If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered.”

    – Thomas Jefferson

    “The money power preys upon the nation in times of peace and conspires against it in times of adversity. It is more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy.”

    – Abraham Lincoln

    “Give me control of a nation’s money and I care not who makes the laws.”

    – Amschel Rothschild

    “I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. No longer a government by free opinion, no longer a government by conviction and vote of majority, but a government by the opinion and duress of a small group of dominant men.”

    – President Woodrow Wilson (regretting signing into law the Federal Reserve Act)

    “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before morning.”

    – Henry Ford

    “By this means (fractional reserve banking) government may secretly and unobserved, confiscate the wealth of the people, and not one man in a million will detect the theft.”

    – John Maynard Keynes, The Economic Consequences of the Peace (1920)

    “The modern banking process manufactures currency out of nothing. The process is perhaps the most astounding piece of slight hand that was ever invented…If you want to be slaves of the bankers, and pay the cost of your own slavery, then let the banks create currency”.

    – Lord Josiah Stemp, Former Director of the Bank of England (1937)

    “If the governments devalue the currency in order to betray all creditors, you politely call this procedure “inflation.”

    – George Bernard Shaw

    “In the absence of the gold standard, there is no way to protect savings from confiscation through inflation […] Deficit spending is simply a scheme for the “hidden” confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights.”

    – Alan Greenspan, Gold and Economic Freedom (1968)

    • Andy in UK

      Great quotes!

  • Rodster

    A 34-year-old father was being held by authorities Wednesday in connection with the deaths of his three daughters, who were found inside his ex-wife’s Wisconsin home with the gas fireplace turned on, officials said.

    http://www.cnn.com/2012/07/11/justice/wisconsin-children-dead/index.html?hpt=hp_t2

  • Robert

    I’m waiting for this to be blamed on Bush…

    • Paul

      Nah, people have Obama now to lay the blame on.

      That’s the point of electing a scapegoat who is visible in the light. There is always someone to blame, while the puppeteers stay in the dark.

  • Evie

    The usa just gave 10 million to I think malaysia because of a natural disaster . Yet they will allow cities to go bankrupt and their workers not to be paid? Not the country I grew up in, why its,own citizens are last in line behind everyone and everything else our gov.pays for and our taxes are used to support.
    I think plenty of money is available but it is being mismanaged.
    The local govs. Have no power except to make their local citizens miserable. I bet the fed is trying to first transfer their obligations to the states who willstick it to the locals who will stick it to us. Global corporate agenda. The fed will then use our taxes and give the money to corporations for education and medical. Hah, a lot of people believed their taxes would go down when the pesky union workers disappeared. Just the opposite will be true.

  • Dave in TN

    “…the credibility of the entire global financial system is at stake.” ????

    Not hardly. The global financial system has NO credibility and probably never did. Get your money out NOW!

  • Keith

    If the world wakes up to what will happen, it will happen at that time.

    Keep it down and we can keep it going its better than the collapse, Buy seeds not silver, u will be able to swap extra seeds for silver :)

  • Andy in UK

    > Could you imagine going to the store and paying a 21 percent sales tax?

    Certainly. In Britain we have 20% sales tax. And a public health system. And no riots so far :-)

    • John W.

      Andy in wonderland,
      Your health system is a joke with people dying waiting on care. As for riots you know that is a lie and there are large parts of British cities where non Muslims especially women cannot go. So give the bull ***** a rest.

  • Mattyboy

    Paying 10% sales tax today. I can even pay more if I purchased deli foods as well. Go to Wal-mart and look at the receipt. Sometimes, I have tax 1, tax 2, and tax 3 to pay. The problem is that not many even care about the taxes, they just blindly pay and vote for new taxes. Most people act as though America can never end the spending. I am beginning to like Romney. I watched the NAACP speech. The guy has got some balls to go into the enemies camp and not try to sound black. Remember Obama trying to sound Irish? Romney is not perfect, but the guy is a man that uplifts America. Much better than what we have now.

    • Zedge Hero

      So your going to vote for the white guy that works for Goldman Sachs. I am going to vote for the intelligent and beatifully aged Dr. Jill Stein -Green Party now that she is on the ballot in Illinois and 40 other states she is on or pettioning to be. The Green is very proud to announce that Jill Stein is the first ever Green Party member, and as of July 1st, the only 2012 progressive presidential candidate, to secure the necessary public support to qualify for federal matching funds. Think about that for a second, the green party has now entered matching fund status with the other parties. Maybe the future can be green instead of this dust bowl we are ragging in to.

      She is a hail Mary in this end game. Spread the word, a woman is going to save us and her name is Jill Stein.

      http://www.jillstein.org/

  • BFH

    Just wait for a few more months and you will be amazed at the shenanigans, lies and tyranny that comes about when they start the debt ceiling debate all over again. Sometime around election time we hit the existing 16.4 trillion dollar mark, we run out of credit! Remember all those automatic budget cuts that are supposed to kick in as part of the last debt ceiling increase? They are already talking about suspending those automatic cuts. Fireworks and entertainment is GUARANTEED to come about in just a few more months. Remember all those threats of this and that in the past that somehow never came to pass? Will this monkey show is GUARANTEED to happen and be a show stopper.

  • geezer

    You are judged by your deeds.

  • Ben in LBTS

    I have been watching all this for sometime, it is very apparent to me that we are headed for a financial disaster like we have never seen before, and what gets me really upset is know body is really paying attention. The media and thegovernment is sound a sleep. Wake Up!

  • 5158

    I wonder every day what our end game is going to be in America? We seem beyond the point of return from decades of arrogant and irresponsible fiscal and foreign policy. What happens when the day of reckoning comes for our once great nations arrogance? Revolution? Civil War? An epic financial depression? I want to know what all of you think will happen. It is clear that we are in deep deep trouble but what will be our specific tragedy?

  • Bob-o

    Absolutely off topic, however important as a once upon a time patriot. The story about the Olympic uniforms “Made in China.”. How could they really think nobody would notice or care, the people that really care about the Olympics are the few patriots we have left in this country. Its just another sign of where we are headed. It’s probably a mom and pop shop making these uniforms now since all the factories have shut down. I wish more people could see this is such an enormous part of our declining economy. I will admit I used to be the first one to go to Superstore China and buy low cost, low quality crap. If everyone even for one week decided that Made in the USA goods was all they would buy, we’d immediately create millions of jobs and begin to dig ourselves out of the worlds deepest debt hole(it’s nearly to China by now…odd). Cling to the sliver of hope…

  • luis

    damm i see a storm of big problems coming

  • geezer

    Two key words to remember are “adjustment” and “exceedingly painful” I think one day we will find ourselves eating rat meat on a stick sitting around a camp fire in our back yard to keep warm, or eating the neighbors cat and when the pets and rats are gone it will then be the neighbors kid.
    I’m not kidding, I think it’s gonna get EXTREMELY bad for us.
    The Bible talks of these days we are entering and it will be unbearble, “exceedingly painful” for us.
    Prep hard, prep fast, FOOD & WATER first and formost everything else takes a back seat for this ride…

  • Alan

    I think the general population has just mentally crawled in a hole and closed their eyes. My guess for what its worth is… we will resemble Mexico or Africa in the next 5 years. No big collapse, just everything will slowly shut down. However it would be interesting if a General stepped up and took over then we’d have a show!

  • SMASH THE CONTROL MACHINE

    QUOTE FROM ZERO HEDGE HITTING THE NAIL ON THE HEAD!!the word evil was never mentioned, like the word ”corruption”, which is never mentioned in the controlled Press. Why? Is the omission there to tell of the influence and program damned people?

    …through the boob tube etc…, the reality of ill intent, meaning wilfull slaughter of others, be it financial and ultimately in the flesh, the spiritual ”mental” case is defined by chemical or some other bullshit excuse that does not hold human intelligence to account. Judgment is sealed upon action after it is birthed in the heart. If you want to hurt the bastards …divest bitchez and stop providing labor for an iron and clay heel kicking your own ass, and you will not be the image of the beast sealed in the black hole.

    In the name of the risen and sustaining Mercy, shall persons not fear the mirror image of contempt? The image of our Father in Christ is the revelation of at least the principle by which we agree in peace or suffer the offer(s) of temptation, saying, eat this hypothicated fruit, it will not abort labor”, yet people still buy sell and trade a Fed Fiat Debt Note with an Occult Pyramid 2012 Prophecy on it with the Eye of Horus and the name of some Masonic freak on it next to the words ”In God We Trust”, which so called non psychopaths place in an offering basket at their 501c3 churches in America. America, lol, land of the plumed serpent, lol, which is now a ”socialist Rosemary’s Baby Care State of Bailout Banker Bonus Bitchez hell bent on peace though Supreme Court Robot Citizen United With The Corporate Voice of economic failure, war, contempt for lilfe and labor, and preemptive Nobel Prizes for nuclear nonproliferation”, …as another nuclear plant goes online over a earthquake fault line and a new strand of two women and one man human hybrids are now risen from the lab, through the womb, and sneeze a new flu made from the same power and principalities of the psychopath air that made the stock pay off it’s short term gain derived from the flaming alter, where the (next human generation of labor is aborted) childrens ashes blow up with the sweet smell of success!!!SOUNDS LIKE MOLOCH!!!Moloch was one of the false gods that Israel would worship during its periods of apostasy. This false deity is associated with Ammon in 1 Kings 11:7, “Then Solomon built a high place for Chemosh the detestable idol of Moab, on the mountain which is east of Jerusalem, and for Molech the detestable idol of the sons of Ammon.”

    One of the practices of the cult that worshipped Moloch was to sacrifice their children. Of course, this was forbidden by God’s word: Lev. 18:21 says, “Neither shall you give any of your offspring to offer them to Molech, nor shall you profane the name of your God; I am the Lord.” (See also Lev. 18:21; 20:2-5; 2 Kings. 23:10; Jer. 32:35).

    In some passages the reference is clearly to a deity to whom human sacrifice was made, particularly in the Valley of Hinnom on the SW of the Jerusalem hill (2 Ki. 23:10; Je. 32:35) at a site known as Topheth (‘fire pit’ in Syriac).1

    The ancients would heat this idol up with fire until it was glowing, then they would take their newborn babies, place them on the arms of the idol, and watch them burn to death. I can’t help but compare today’s abortion massacre to the sacrifice of children by these ancient pagans. In both, innocent life is destroyed for the gain of the parent.AND THE BEAST AND THE HARLOT!!

    • therooster of Christ

      In 1971, the much desired real-time genie was set loose from the bottle in order to support real-time gold & currency valuations in order to reflect real-time market fundamentals. At the same time, however, the evil debt genie also escaped. The irony of all this is that the real-time genie holds the keys on how to get the debt genie back into the bottle.

      The floating USD’s role as a currency is but a stop-gap measure on route to fulfilling its ultimate role as a real-time measure and servant to real-time gold-as-money. Real-time is key to the understanding of this whole process because any kind of a fixed peg on gold could not allow gold to act as a proper currency. Gresham’s Law is now reversing as gold becomes monetized by the grass roots of the marketplace, via higher valuations. Bullion has never been a monetary problem when levied with the false reputation of being “deflationary”. The problem was the FIXED peg, not the weight. Real-time bullion is a new paradigm where new wine gets poured into a new wineskin.

      The elite set the real-time stage back in 1971 with the de-linking of the $35/oz dollar/gold price peg. This set gold free to float in purchasing power.
      Some evils are necessary in “the script” ….. follow it. The market must complete the task as gold-as-money cannot be reintroduced from a top-down process. This beast must rise from the grass roots for the sake of moderate rate of change and reasonable transition speed.

      Never forget the gifts of the Magi.

  • joe

    I am on the verge of losing hope that the USA or Europe can be righted. It seems that the majority of people are apathetic, uninformed by choice. Evil (and isn’t that really at the root of each of the four reasons discussed in the blog) is rampant in the government and the culture; Many (most?) people take no responsibility for taking care of themselves or for their actions. I know rational, educated people that are discussing the possibility of mass civil unrest, perhaps civil war, in the USA. A doctor we know just attended a seminar on medical care following an apocalypse ( OK, that’s scary stuff). I could go on, but, if you are reading this blog, you get it. I just don’t see anything on the horizon that can save us.

  • DB200

    Naples is flooded with big, red cockroaches. Thanks to a financial crisis and organized crime syndicates. And of course, we also see politicians who are downplaying everything. You could say someone is holding us a mirror with a reference to similarities in the global financial system.

    http://www.thedailybeast.com/articles/2012/07/12/giant-red-roaches-invade-italy.html

  • Hey You

    Perhaps things are getting worse. But then, maybe things have always been “crazy” and people have always wanted things to be “more fair” for themselves. And maybe the Internet is the problem for providing more scrutiny of such selfishness.

  • Gary2

    Michael–did you do an article on the LIBOR scandal/the wells fargo scandal overcharging Black and Hispanic on interest, the puny fine they got while not admitting any wrong doing?? I can not see why they would pay a fine if there was no wrong doing. what a crock. How many rates based on libor were now false???

  • therooster of Christ

    No need for panic. The solution does not rest with the elite who reside near the top of the economic hierarchy. It rests with the rank & file of the real market …. us. We are all able to monetize personal gold & silver and thereby, increase liquidity without adding debt. The addition of debt-free liquidity will free up debt based currency to find the hands that need that currency for debt servicing. IOW, we are in a time where Gresham’s Law is reversing.

    Keep in mind that Gresham’s Law is/was predicated on FIXED values placed upon gold, such as what we saw during Bretton Woods @ $35/oz. Gold could never extinguish much in the way of debt at $35/oz, but since bullion values have been set free to float, the extinguishing of debt has been left to us …. the market , not the elite.

    The elite set the stage for the removal of debt and the return of bullion based currency in REAL-TIME when the fixed peg of $35/oz was severed in 1971.
    They cannot finish the job and implement bullion based currency by way of any top-down support, however. A top-down process would be too powerful and abrupt which would crash the dollar. The elite are simply relegated to their prescribed role of “carrying the stick” at this point. It’s up to a market driven , organic process to monetize gold …. bottom-up. Follow the script. The bankers have done well playing out the roles of the “necessary evils”.

  • therooster of Christ

    Just how long do you guys want to hold my comments in “moderation” …..? Am I gonna see the second coming before this last post (at about 7:22 am) gets displayed ?

  • McHail

    We should all appear to have “blind faith” in the system, whilst setting up connections with like-minded people

  • Peter

    Hi-ya. Thanks for keeping it real. I live in Melbourne, Australia and whilst we Aussies live in strong economic conditions, Im quite sure we will not be immune from the Fallout of a Collapse. Even though Preparing & storing for such harsh economic times that will inevitable reach us all,is really not spoken about or really practiced with any urgency here I for one are following your advice & preparing suitably for whatever the future holds. Thanks again & keep up the great work. Yours simcerely. Peter in Melbourne.

  • enrico fermi

    Let me tell you story. Stick with my story until the end as its not about what it appears to be about specifically. I live in Ireland. Going back all the way to 1996 house prices in ireland started to rise rapidly. By 2004 i was convinced about the unsustainaabilty of it. I got out of property and sat on the sidelines. But house prices continued to go up. One of my friends acquired 18 properties another had 8 and they are just an ordinary Joes. I told them to get and they laughed. Property prices continued to rise. I couldn’t believe it (actually a but angry that i was more cautious than greedy). My friends became paper multimillionaires and i was living in a rented house because i knew 100% that it couldn’t continue. However, even though i knew 100% that the housing market was going to implode, the timing was in the lap of the gods. I felt i had a duty to help my friends. whilst reading this you have to keep in mind the dellussion that existed at the time. I said to him ok tell me what you think will happen to the property market – he said things will continue as they are!!! What 20% a year increases?? Of course he said why not! Because a house that cost 300 thousand today would cost …. wait for it…. 3 Trillion in 50 years time (True). He couldn’t accept the implausibility if at all and so between then and the collapse, he took on another few properties at ridiculous prices. When this kind of thing was going on you don’t have to wonder how so many of the irish banks got into trouble and are for all intents and purposes insolvent. Never mind that wasn’t the point of my story.

    The point is this… Some people know, because it is as plane as day, that the global economic system is unsustainable. Some people know it because they understand the dire economics. Yet others feel it. They know that something isn’t right in the world. Others cant accept it, so they literally block it out. But on some level every one knows how bad things are, if some people can’t deal with it let them do it their own way. Most of all, something that surprised me about the obviously unsustainable property market is this – not only did this thing go on so much longer than i thought it could, it actually accelerated near the and at the point of maximum velocity it literally fell off a cliff. Thats they way it will be again. Look for sudden surges in the market and then run for the hills!

  • Rodster
  • http://www.MagicalSpain.com Dan O’Beirne

    Hello from Spain, Wondering how long do you guys want to hold my comments in “moderation”? best, D

  • http://www.MagicalSpain.com Dan O’Beirne

    Micheal, thanks for your wise thoughts and work here.

    As an American expat and biz owner and Spain, I can add some Iberian insight and make a big prediction here

    http://www.blogger.com/blogger.g?blogID=18524938#editor/target=post;postID=3640537992573530384

    best from Madrid,

    Dan O’Beirne partner – MagicalSpain.com

  • MichaelPK

    Hi my name is also Michael but I live in Australia, I understand what you are saying and know you will be entering into a total collapse of your economy. It will of course depend on the Central Bank of Europe as the EU needs to reform, but that information later. Russia and China has not the control nor the incentive to do so I see the problem with your information of the facts that we know here.

    I will state facts, don’t blame me im just the messenger.

    The information as we know it that Obarma was rushed in as to be the fall guy.
    Now im not going to argue the facts with anyone over the information for it speak for itself.

    Australia should not in anyway be made a triple AAA nation but it has, there are reason for that. Our politics are a joke but our sphere of the world places us as a safe self supporting nation if need be, this allows Australia and its small population to sustain growth with now limiting natural resources and conserving energy so in other words creating a controlled self containing depression now then waiting for when it hits the entire world economy while the rest of world goes into break down, it will course effect all Australians but it will be contained as the populus are not likely to rebel to bring down there Government here, unlike there in the US.

    What we gather from the information here is that Obarma was born in Kenya Africa and that his parents are of the Muslim faith, as long as Obarma has not publicly rejected the Muslim faith then he is still a Muslim, and therefore your greatest enemy to every American, Jew and Christen, marrying a Christen woman will and does not change his religion or belief. He was picked and promoted for the job and like moths to a flame you fell for the bait. You know he will not feel any compassion for him to kill you as in his belief you are infidels, so this allows him to enact marshal laws with orders to shoot to kill any citizen bearing arms which in direct violation and looters will be shot on sight no trial, no lock up. Unarmed people in the street will be rounded up even just protesting and placed into the many hundreds of camps already pre-built around the country for processing and perhaps more likely termination as traitors, and revolutionaries against the government.

    It’s a pity that the ordinary US citizen think they are better than anyone else when they cant even see what is happening and what has been prepared for them.

    You have the worst reputation around the world and its among the people of the nations but not of the governments of the nations, not one nation is going to come to your aid, your on your own, but any that do will be UN troops, yes that’s right foreign troops in America herding you, control you, and even killing you. Sorry its not a movie, its for real, and you will be fighting for your very lives for survival.

    You were all fooled when Kennedy was killed, you were all fooled again by 9/11 and your fooled by the ambush by Bush and now the Obarma coo. Its called the third time lucky on there side not yours. I am sorry for you all, but your own blindness has and will destroy you. What is worst there is no time left, no matter what you do America is out of game. The sacrifice goat to save Europe, allow the Muslims to attack Israel, you all played right into the hands of the New World Order you even funded it, housed it, armed it. Did you know we found the answer to the word who is MABUS by Nostradamus well even your best interpreters were misled the name for it was really MABVS old English spelling you see in the year 1555 the v was used not the u, so you were misled again so its over, its done, its completed. No its not Obarma he is just a puppet.

    I could tell you so much how, why, and who, you see the answer are found just before the dominos start to begin to fall, it was planned simple that’s why it cant fail, it takes a genus to find it, but everyone can understand it because it was simple. The Kiss principle Keep it simple stupid. But this is the Kiss of death for the America people and your way of life.
    Sorry. its all I can say. Over 21 years to complete, do you know why the number 21 it’s the three 7s 777 and do you know what it means completion. Occult, lets see Bush was a skull and bones man an occult organisation., but then how can you believe your mainly atheists. Misled by the churches, misled by your Government and now killed by a Muslim in power over you all.

  • http://malaysiandemocracy.wordpress.com/ AgreeToDisagree

    Nonsense. USA could simply distribute all unused land , and tell the people to grow their own crops and build their own houses, raise their own livestock, make their own leather or fur goods, compost their own sewage, collect their own rainwater or dig their own wells. End of problem, everyone gets a few acres and high-density living ‘hellholes’, will be quite empty without people who have their own land.

    BTW there is no such thing as money. There is no such thing as economy or collapse. Too bad for the plutocracy or corporatocracy though! Even if education was free now, citizens will return to 1400s settler-era America! Citizens please elect ONLY a President or Governor with the above intent. Executive Order 0 (Zero) for land distribution will be that reset button America needs. Now THAT would be something to be optimistic about.

    People have lived since man learnt to walk upright without electricity or petrol. BTW there is no such thing as poor people, jobs, concept of money much less a petro-dollar or a Global Financial System or a recession or depression. Alright ‘chicken little(s)’ I’m not posting anymore. If America can’t think what to do or apply what I posted, then the American voters deserve what they get. Simply vote for non-GLC or millionaire Joe Public types who sign statuary declarations to do the above suggested!

Emergency Essentials/BePrepared
Agora Financial
Thrive Life
FEMA Hates This

High Blood Pressure?
The End Of America?
FINCA BAYANO
Survive After Collapse

Silver.com

Camping Survival
GunMagWarehouse.com
SFC_The-Video-They-Tried-To-Ban_125
Facebook Twitter More...