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Is There Going To Be A Stock Market Crash In The Fall?

Is the stock market going to crash by the end of this year?  Are we on the verge of major financial chaos on a global scale? Well, this is the time of the year when investors start getting nervous.  We all remember what happened during the fall of 1929, the fall of 1987 and the fall of 2008.  However, it is important to keep in mind that we do not see a stock market crash in the fall of every year.  Some years the stock market cruises through the months of September, October, November and December without any problems whatsoever.  But this year conditions certainly seem to be right for a “perfect storm” to develop.  Technical indicators are screaming that a stock market decline is imminent and sources in the financial industry all over the world are warning that a massive crisis is on the way.  What you are about to read should alarm you.  But it is not a guarantee that anything will or will not happen.  When Ben Bernanke gives his speech at the Jackson Hole summit on Friday he could announce to the rest of the world that the Federal Reserve has decided to launch QE3 and that the Fed will be printing up trillions of new dollars.  If that happened global financial markets would leap for joy.  So it is always a dangerous thing when anyone out there tries to tell you that they can “guarantee” what is about to happen in the financial world.  There are just so many moving parts.  But if we do not see major intervention by the governments of the world or by global central banks a major financial crisis could rapidly develop this fall.  The conditions are certainly right for a stock market collapse, and we could easily see a repeat of what happened back in 2008.

The truth is that the second half of 2012 looks a little bit more like the second half of 2008 with each passing day.

Just check out what Bob Janjuah of Nomura Securities has been saying….

Based on the reasons set out earlier and also covered in my two prior notes, over the August to November period I am looking for the S&P500 to trade off down from around 1400 to 1100/1000 – in other words, I expect over the next four months to see global equity markets fall by 20% to 25% from current levels and to trade at or below the lows of 2011! US equity markets, along with parts of the EM spectrum, will I think underperform eurozone equity markets, where already very little hope resides.

Others are issuing similar warnings.  For example, the following is what a couple of Bank of America analysts said in a report the other day….

Our strategists see an unusually high number of macro catalysts over the next 3-6 months that could take markets lower. We expect economic growth to disappoint in the second half of the year in anticipation of the fiscal cliff. This would exacerbate any slowdown from the deepening recession in Europe and decelerating growth in emerging markets. There is also the ongoing tension in the Middle East, the potential for a US credit downgrade and accelerating downward analyst estimate revisions. To top it off, September is seasonally the weakest month of the year for stock price returns.

There has been an unusual amount of chatter in the financial world about the September to December time frame.

That could mean something or it could mean nothing.

But is is very interesting to watch what some top financial insiders are doing with their stocks right now.

Dennis Gartman, the publisher of the Gartman Leter, has dumped all of his stocks at this point.

As I have written about previously, George Soros has dumped all of his stock in banking giants JP Morgan, Citigroup and Goldman Sachs.

Are they just being paranoid?

Or do they know something that we do not?

If you are looking for the next “Lehman Brothers moment” in the United States, you might want to watch Morgan Stanley.  Morgan Stanley was heavily involved in the Facebook IPO disaster, earlier this year their credit rating was downgraded, and now there are persistent rumors that Morgan Stanley is in big trouble and that it will be allowed to fail.  You can check out some of these rumors for yourself here, here and here.

But of course as I have said all along the center of the coming crisis is going to be in Europe, and many analysts agree with me.  For example, the following is what the chairman of Casey Research, Doug Casey, had to say during a recent interview….

Europe is a full cycle ahead of the U.S. Its governments and its banks are both bankrupt. It’s a couple of drunks standing on the street corner holding each other up at this point. Europe is in much worse shape than the U.S. It’s highly regulated, highly taxed and much more socially unstable.

Europe is going to be the epicenter of the coming storm. Japan is waiting in the wings, as is China. This is going to be a worldwide phenomenon. Of course, the U.S. will be in it, too. We’re going to see this all over the world.

Much of southern Europe is already experiencing depression-like conditions.  Unemployment in both Greece and Spain is well above 20 percent and both economies are steadily shrinking.

Money is flowing out of Spanish banks at an unprecedented rate right now.  Just take a look at these charts.  The only thing that is going to keep the Spanish banking system from totally collapsing is outside intervention.

But the truth is that all of Europe is in big trouble.  Even German companies are slashing job right now. For example, check out what Siemens is up to….

German engineering conglomerate Siemens (SIEGn.DE) is in early internal talks to cut thousands of jobs in response to a weakening economy, particularly in Europe, a German newspaper reported.

Decisions could be made in October or November, according to daily Boersen-Zeitung, which did not specify its sources.

A Siemens spokesman declined to comment.

We are living in the greatest debt bubble in the history of the world, and at some point that bubble is going to burst in a very messy way.

It is vital that people understand that our system is not even close to sustainable.

Knowing exactly when it will collapse is not nearly as important as understanding that a collapse is absolutely inevitable.

I think what former World Bank economist Richard Duncan had to say recently is very helpful….

“The explosion in credit drove economic growth in the U.S. and around the world, and now that’s the only thing that’s keeping us from collapsing in a debt/deflation spiral,” he said. “[What] I think everybody needs to understand is that the kind of economy that we have now, it’s not capitalism. It has very little in common with capitalism. Capitalism was an economic system in which the government played very little role …. Under capitalism, gold was money and the government had nothing to do with it. Now the central bank creates the money and manipulates its value.”

And he is very right.

We aren’t seeing a failure of capitalism.

What we are witnessing is the failure of debt-based central banking.

And if you think that the global elite are not aware of what is happening then you have not been paying attention.

This summer the global elite have been preparing very hard.  Either they are getting very paranoid or they know things that we do not.

If you want to catch up on what the global elite have been up to recently, check out these three articles that I have published previously….

-“Are The Government And The Big Banks Quietly Preparing For An Imminent Financial Collapse?

-“Startling Evidence That Central Banks And Wall Street Insiders Are Rapidly Preparing For Something BIG

-“Jacob Rothschild, John Paulson And George Soros Are All Betting That Financial Disaster Is Coming

If you are waiting for the nightly news to tell you what to do, then you have not learned anything.

Did anyone in the mainstream media warn you about what was about to happen back in 2008?

Of course not.

The “authorities” insisted that everything was going to be just fine and many average Americans were absolutely wiped out.

So don’t expect someone to come along and nicely inform you that your retirement savings are about to be absolutely devastated.

In this day and age it is absolutely critical for people to learn to think for themselves.

Barack Obama is not going to save you.

Mitt Romney is not going to save you.

The U.S. Congress is not going to save you.  They are too busy living the high life at taxpayer expense.

The system is not looking out for you.  Nobody is really going to care if your financial planning gets turned upside down.  This is a cold, cruel world and you need to understand how the game is played.  The financial insiders are looking out for themselves and most of them usually are able to avoid financial disaster.

Average folks like you and I are normally not so fortunate.

There are lots of warning signs that indicate that this fall could be a very turbulent time for global financial markets.

Ignore them at your own peril.

  • Barn cat

    There’s a sovereign debt collapse coming too. Imagine this: two banks across the street from each other each bought large amounts of government bonds. But that’s OK: they bought insurance on those bonds–FROM EACH OTHER!

    • Wilson

      ROFLMAO, serves them right.

      • Malcolm Reynolds

        Keep on laughing like this will have no effect on you dummy. it’ll…serve YOU right.

    • Malcolm Reynolds

      to the tune of something like 1.5 quadrillion dollars. It’s gonna sting just a little.

  • 1stVArifleman

    “The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks.”
    Lord Acton

    “And the men who loan money to governments, so called, for the purpose of enabling the latter to rob, enslave, and murder their people, are among the greatest villains that the world has ever seen. And they as much deserve to be hunted and killed (if they cannot otherwise be got rid of) as any slave traders, robbers, or pirates that ever lived.”
    Lysander Spooner

    Long Live the Constitutional Republic!
    Sic Semper Tyrannis!
    III

    • Patrick Henry

      I like your signature!

      • 1stVArifleman

        Thank you. I like your user name. Patrick Henry, the voice of American Liberty, is without a doubt one of my heroes and a man who has truly been forgotten for his contributions to American History. History could have been much different without Patrick Henry’s oratory roar for American Liberty. The prime reason being his voice convinced Virginia to take up arms against Great Britain more than any other, and whether you want to look passed my bias or not, the American Revolution could not have been won without Virginia.

        A list of quotes by Patrick Henry:

        The Constitution is not an instrument for the government to restrain the people, it is an instrument for the people to restrain the government — lest it come to dominate our lives and interests.
        Patrick Henry

        Guard with jealous attention the public liberty. Suspect everyone who approaches that jewel. Unfortunately, nothing will preserve it but downright force. Whenever you give up that force, you are inevitably ruined.
        Patrick Henry

        The liberties of a people never were, nor ever will be, secure, when the transactions of their rulers may be concealed from them.
        Patrick Henry

        When the American spirit was in its youth, the language of America was different: Liberty, sir, was the primary object.
        Patrick Henry

        Are we at last brought to such a humiliating and debasing degradation, that we cannot be trusted with arms for our own defense? Where is the difference between having our arms in our own possession and under our own direction, and having them under the management of Congress? If our defense be the real object of having those arms, in whose hands can they be trusted with more propriety, or equal safety to us, as in our own hands?
        Patrick Henry

        Fear is the passion of slaves.
        Patrick Henry

        If this be treason, make the most of it!
        Patrick Henry

        I have but one lamp by which my feet are guided, and that is the lamp of experience. I know of no way of judging of the future but by the past…. Shall we acquire the means of effectual resistance by lying supinely on our backs and hugging the delusive phantom of hope, until our enemies shall have bound us hand and foot? Sir, we are not weak if we make a proper use of those means which the God of nature hath placed in our power. The millions of people, armed in the holy cause of liberty, and in such a country as that which we possess, are invincible by any force which our enemy can send against us…. it is now too late to retire from the contest. There is no retreat but in submission and slavery! Our chains are forged! Their clanking may be heard on the plains of Boston! The war is inevitable–and let it come! I repeat it, sir, let it come….Gentlemen may cry, Peace, Peace– but there is no peace. The war is actually begun!….Is life so dear, or peace so sweet, as to be purchased at the price of chains and slavery? Forbid it, Almighty God! I know not what course others may take; but as for me, give me liberty or give me death!
        Patrick Henry

        • 1stVArifleman

          *passed should be past

          …and just for good measure since this is why I was responding in the first place…

          Long Live the Constitutional Republic!
          Sic Semper Tyrannis!
          III

  • Rodster

    The troubling thing is that we are starting to see more of these articles popping up on different news outlets other than Michaels 50 doom and gloom websites.

    j/k Michael :)

    • chiller

      What other sites does he have?

      • Shanna

        http://www.endoftheamericandream.com
        http://www.thetruthwins.com

        That’s the other 2 I know about. He may have more but not sure

        • Michael

          Thanks Shanna – those are the main ones I am writing on these days other than this one.

          Michael

          • Alasha

            thought u were taking a break to be with ur fam for a bit? lol. oh well we appreciate all u do, Michael!!!!!!

        • chiller

          Thanks Shanna!

    • Zedge Hero

      It’s another amazing article! And I don’t like using exclamtion points.

  • Shan

    In a word, doubtful. Unlike 2008, 2001, 1987 and 1929, the crisis is government debt. Institutional investors may flee credit markets, but not stock markets.

    • CJ

      You do realize that institutional investors check the exposure various entities have to debt, right?

      It always starts small. There will be an “Arch-Duke Ferdenand” moment and things tend to speed up rapidly. If credit freezes, companies seize up. When companies seize up profits fail to materialize. When profits aren’t there institutional investors pull their money.

      Look at the bigger picture. Sometimes you really must, to see the forest for the trees.

    • Malcolm Reynolds

      Who said they arent going to flee to precious metals and commodities (which they always do)?

      Who said they have to stay invested in OUR markets – there are at least 18 world wide?

      Who said they have to stay invested in American companies – given the new rules about hypothecation, clawback and theft of segregated funds now being legal I find the notion almost laughable?

  • Chris

    The greatest lie ever sold to humanity was we are “progressing” “moving forward” when we actually are “going backwards”..that is the reason…we don’t see it coming…

    99.999999% of human race has no clue whatsoever, what we are dealing with here…Forget the stupid markets, money, government and politicians…that should be the least of your worry, forget death even..they are just tools to control you that you see…

    We are dealing with a race of aliens that have made human race their prisoner for millions of years now…The day of the final battle is here that was planned for a million years…we all will be free soon….by this year….expect a gigantic intergalactic war in your sky soon…

  • Scott

    “Is There Going To Be A Stock Market Crash In The Fall?”

    Keep a close eye on interest rates. When they eventually start moving up again the trouble will start.

  • Gary2

    Michael r u backtracking?

    • Michael

      Backtracking on what?

      Michael

  • Rick

    Did anyone read the story on the bank teller let go for something he did 50 years ago? Wells Fargo did this and i read the story on Yahoo.

    • Lori F

      Yes I did. My daughter and her husband do renovations. They recently did repairs on a home for an insurance claim. The Insurance uses Wells Fargo for a bank. It took 2 months to get paid from Wells Fargo and then Wells Fargo local branch stated they could not cover the check, it had to be sent to headquaters. TWO MORE MONTHS LATER and still no money!! That says to me they dont have the money.

    • Ascetik

      Yeah because he put a cardboard dime in the washing machine at a laundromat so he could get a free wash or something, and a cop charged him in the 60’s, so Wells Fargo fired him, so absurd.

      Same thing happened to a friend of mine last week working on a computer project for Wells Fargo. He has a clean-record from what I know about him and they had already hired them then one day lo and behold they just fired him because of “something on his background check.” They didn’t tell him what it was.

      I used to work for SunTrust in one of their HQ buildings. I will NEVER, EVER work for a bank again. They treat their employees like absolute trash and act like they’re all slaves. The management of these banks are quite possibly some of the most horrible individuals I’ve ever met.

  • Gary2

    The vast majority of Americans want to tax the rich and end the wars.

    • Malcolm Reynolds

      evidence of this insight? Zilch.

      o.n.e. t.r.i.c.k. p.o.n.y.

      • sharonsj

        How about nearly every poll conducted by a variety of institutions? The majority of Americans want to tax the rich and end the wars!

        • Malcolm Reynolds

          Yep, this is from the lefty Gallup poll.

          “On the issue of raising taxes on higher-income individuals, the partisan split became more pronounced. Only 41 percent of Republicans and Republican-leaning independents believed that income taxes should be raised on those earning more than $200,000 and families earning more than $250,000, while 85 percent of Democrats and Democratic-leaning independents agreed.”

          We already know democrats are hard left communists and the republican party is full of progressives so it’s not really surprising.

          As for ending the wars. Yea, I’d agree, I think most of us do want to end them – except democrats only talk about it while republicans are in office.

          Go read that link tho. I find it interesting that them lefties came up with this nugget, “Meanwhile, the Gallup poll also showed significant support for Obama’s jobs plan” and yet it the plan that received exaclty 0 votes. Not 0 republican votes, but 0 votes. Gallup credibility ….shaky.

          • Gay Veteran

            “We already know democrats are hard left communists and the republican party is full of progressives so it’s not really surprising.”

            the GOP is full of progressives? WHERE?

            oh, that’s right! conservatism, like communism, cannot fail it can only be failed.

    • http://itsafluffy.blogspot.com DL.

      Gary2, please. Most Americans LOVE war and the empire. American History is basically a history of war. Ask any Native American. It’s the hate, buddy. the hate. THAT is why we will get what we deserve.

  • Ken Nohe

    A repeat of 2008 is unlikely, financial authorities will not let it happen; they’re excellent at fighting yesterday’s wars. But many, many other things can happen:
    – Tensions in the Middle East flaring.
    (All eyes are on Iran but Egypt is a tinderbox waiting for a match.)
    – South China sea shooting exchange.
    (Vietnam is getting ready to resist the push and shoves of China.)
    – Quake in Tokyo.
    (Officially, 70% risk over the next 2 years. Nobody knows really except that the risk is very high.)
    – Break up of the Euro
    (Greece will not leave, but what about Finland? If the risk is syndicated, they have no reason to stay unlike Germany who will “pay” but to become the head of the “United States of Europe”.)

    Some of these risks can be circumscribed, (A small and short term war between Vietnam and China) others less. And then there is the unpredictable. In Japan, they say that the wasp always sting the crying cheek. Well, maybe not always but it does that too, and eventually, the way things are running, it will have plenty of crying cheeks to choose from!

    • SuperBigHuge

      2008 will look like a hiccup compared to the convulsions heading our way. In fact, 2008 would be nice. We are facing a meltdown that cannot be stopped. The magnitude of this economic holocaust will probably devastate our civilization.

  • SidDavis

    I think there is a much higher chance of bond values falling and interest rates moving up rapidly, although the FED may be able to postpone this by their market manipulation.

    My analysis also indicates that gold and silver are in a bear market and will remain so for the next 18 months; the strength shown in the last several weeks is just a counter trend rally in my view.

    The Nasdaq Composite closed today at 3,077.14 and it would not surprise me if it closed out this year nearer 5,000.00, with a big part of that move up coming over the next two months.

  • Wilson

    Very well done, you continue to go above and beyond in your efforts to reason with people and alert them to what is coming. Thank you for your continued efforts. This is another article that I will pass on to my brother in my attempts to get him off his rear.

  • Mick

    Speaking of Soros, some of his trades are purely manipulative or political in nature. For instance, he invested heavily in Facebook a few weeks back and since then it’s dropped a few percent already. Now, he probably had insider info, as this week we hear of a face recognition technology which facebook will use to log in users, and of course, collect 500 million faces for Big brother. Wonder how much that will pay….

  • Lin S

    With all of the signs of an imminent, impending collapse staring at me: market crash looming, US Dollar imploding, poverty and debt levels rising, the rising police state – I find that I just don’t enjoy life anymore.

    There is nothing to look forward to anymore, everything just gets worse and worse. I can honestly say I have lost my will to live.

    I sometimes wonder if I am the only one who feels this way…

    • http://www.povertylinejournal.blogspot.com/ the optimist

      You’re not. The only thing that keeps me going is the knowledge that “they” want me, you, all of us, the bottom of the 99% DEAD. Personally, I intend to bleed a few of them on my way down, (metaphorically speaking of course, I’m a peacenik from way back).

      • http://itsafluffy.blogspot.com DL.

        Keep dreamin’ buddy. The elites ARE a problem but you know who the biggest problem is? US–the 99 PERCENT. That’s who! What are we gonna do about it?!?

    • Chestertonian

      Lin S, I would feel the same way too, if I didn’t believe in God whom I serve everyday, all day. If a person doesn’t think that there’s evidence of a Master Planner in the design of the universe, and that He has a wise and merciful plan for each of us, and that we are free to accept or to reject Him, then there really isn’t a whole lot to live for in the long run.

      • GSOB

        To Chestertonian,

        Hello.

        A portion of your comment,

        “that we are free to accept or to reject Him”

        is not true. We are not free in this sense. We are hostile to God by nature as sinners,… we don’t want anything to do with him.
        Yours is a man centered gospel, which is another gospel.

        The natural man does not receive the things of God because he is not able to discern them and they are but foolishness to him.

        God chooses whom to show mercy to and whom to harden.
        It’s not of him who wills or him who runs, but God who show mercy.

        The church is the called out ones and many are called but few are chosen.
        God is building his church, not man. It is organic and not a building with a cross on it.
        We proclaim the gospel and faith comes through hearing.

        There is no urgency to a man centered gospel.

        • http://theeconomiccollapseblog.com/archives/jacob-rothschild-john-paulson-and-george-soros-are-all-betting-that-financial-disaster-is-coming/comment-page-1#comments Trout

          Well said.

        • http://itsafluffy.blogspot.com DL.

          Spoken like a true Arminian…I have a website you might be interested in (no it’s not mine):
          http://bible-truth.com

          L. Ray Smith, who recently died, has a lot of very discerned Bible notions on there…but his forums are kinda meh.

    • Chunkeroo

      Yes I also feel the same. It sux watching everything u have worked for go down the drain and knowing your standard of living is going to drastically worsen for years – if not for life after the crash no matter how much you prepare. There is nowhere to go … The whole world will go down together. The modern world with sub specialized jobs that all

    • Chunkeroo

      Us to have interesting and intellectually stimulating work probably won’t exist…. Like studying ancient languages at the university or what not. Survival will be the name of the game. If the infrastructure collapses all the comfort and convenience we so enjOy will no longer exist. Sigh. No I know exactly how u feel watching all ur dreams and aspirations destroyed.

    • Save the Republic

      Feel the same way, but not just because of the bleak future forecast, but because I’ve been living the financial struggle for 4 years now (can hardly prep because money is so tight), and there is no hope of anything changing that would substantially improve my situation in the foreseeable future. It is depressing to know that, for as far as one can gaze towards the future, there is absolutley no hope of any changes except negative ones. That is why I (and probably many others), wish that the collapse would just happen already. At least if my family and I survive, we would be looking at a new day dawning and the hope of rebirth. Right now it feels like we are in a battered and leaking ship in a perfect megastorm, and the longer the storm persists, the less likely the ship is going to hold together.

    • slingshot

      Get off the internet for awhile. Go out for dinner. Get up and watch the sun rise. Put on some good music and sing and dance, Do the Air guitar. Go for a walk on the beach or park. Call an old friend or family. Hug your significant other.

      • GSOB

        To sling shot,

        to add to your recreational list of to dos….

        ….then kiss your arse goodbye.

        • slingshot

          @GSOB,
          Sometimes people need a pick me up reading all this negative news. Did not say to give up. This person just needed a pick me up. If you can’t help a person at this time, what will it be like when it all goes down. I have been preping long before it became fashionable and before Christ was a corporal. I don’t think may six o’clock is going anywhere.
          Thank you very much. ;0)

      • http://theeconomiccollapseblog.com/archives/jacob-rothschild-john-paulson-and-george-soros-are-all-betting-that-financial-disaster-is-coming/comment-page-1#comments Trout

        Very cool comment.

  • David

    Great another economic stock market fall!

    There is a way to safe yourself in this one. Shorting a stock.
    You know how many people made money of the stock market on spain by shorting?

    That’s the reason why Spain and Italy banned shorting. In the Netherlands there are options on shorting suchas ‘Turbos” and ‘Sprinters’. The fun thing about these ‘option’ is that there is a stop los option.

    If a stock falls over 10 procent in 1 or 2 days (which is posibale in a crash) and you invested in a turbo or sprinter stock at the right time…that means 30 or 40 % profit IF you sell it right.

    This is a tatic what many traders use in these times. I know what i’m doing what the ********** goes down!

  • David

    Great another economic stock market fall!

    There is a way to safe yourself in this one. Shorting a stock.
    You know how many people made money of the stock market on spain by shorting?

    That’s the reason why Spain and Italy banned shorting. In the Netherlands there are options on shorting suchas ‘Turbos” and ‘Sprinters’. The fun thing about these ‘option’ is that there is a stop los option.

    If a stock falls over 10 procent in 1 or 2 days (which is posibale in a crash) and you invested in a turbo or sprinter stock at the right time…that means 30 or 40 % profit IF you sell it right.

    This is a tatic what many traders use in these times. I know what i’m doing when it goes down!

  • OldPhart OutIn TheDesert

    Sept 12 will be D-day for the globe as Germany determines if they can, Constitutionally, bail out Europe. My money is on them not.

    If/When they step back, the Euro is toast as would be the EU. That turbulence will reverbrate back to the US since our government (the one that banks own) have tightly intertwined themselves with other currencies.

    Expect the dollar to become ‘not worth a Continental’. China has already started to flood our markets with dollars as they purchase property and other assets, and even have increased Corporate lending by hundreds of percent over the last three years.

    The real bitch of it is that our forces that have been in Iraq/Afghanistan, and circling Iran, will be stranded. Our government will simply run out of acceptable money in an instant. No funding will be available to bring them home.

    We will be a superpower in weaponry, but unable to deploy the troops to utilize them.

    On the plus side, there will be a period of time when chaos will reign. During that time, take every opportunity to personally terminate those that created this collapse…bankers, lawyers, judges, congressmen, senators, and civilian federal employees.

    All of us should be blood-lust-enraged at what has transpired over the last thirty years. Everything you’ve worked for, your entire life, is already GONE. It’s been stolen. Everything you have, right now, will be taken. And your sorry ass will be a slave to whatever is created out of the coming world war. You, your kids, and grandkids are all going to see death and destruction, up close and personal, as this unfolds.

    Education and media has produced an apathetic, self serving nation that will immediately turn into a murderous hoard once the hand-outs stop. We lost civility and decency back in the 70’s, when this comes we will see true depravity emerge from our cities. Desperate people will do desperate things to survive. Being enraged and desperate will make the fires flame even higher.

    Our system, at this point, is a house of cards and we have a derth of intelligent statesmen. We will boil a very long time before any will rise to the top.

    Sept 12, in spite of my rant, may not be the day due to more manipulations/scams/thefts but it is a mathematical certainty that what I described will happen. I’m not sure of the exact date, but it WILL HAPPEN.

    Prepare yourself as best you can.

    • NorthernCanuck

      This brief item may have been missed by many back in June, amidst all of the Euro skirmishes and dust…

      “Bloomberg Tests Post-Euro Greek Drachma Code

      By William Kemble-Diaz
      WSJ Blogs,
      June 1, 2012, 11:09 AM

      It’s gone now but foreign exchange dealers for a time Friday were shocked to see a brand new currency appearing on their Bloomberg screens: a post-euro drachma.

      The news set the trader grapevine and Twittersphere ablaze with speculation the financial news provider feared the worst ahead of Greece’s June 17 elections and was preparing for a Greek exit from the euro zone.

      “Bloomberg carries out contingency planning exercises in the normal course of business. In accordance with this, Bloomberg has planned for a number of different scenarios across all our businesses including individual sovereign default scenarios and changes of currency for individual sovereigns,” Bloomberg L.P. said in a statement.

      “As part of this testing process, a test identifier was briefly visible to a few customers,” it said.

      By typing XGD on their screens–rather than the GRD legacy code of the erstwhile Greek drachma–Bloomberg users were briefly able to see, among the options listed, a spot exchange rate for a post-euro Greek drachma.”

      • jaydee

        How did you put a date on it? where did sep 12th come from?

        I give it from here now till november

    • GSOB

      Hey you Oldphart outin thedesert.

      Your blanket statement,

      “On the plus side, there will be a period of time when chaos will reign. During that time, take every opportunity to personally terminate those that created this collapse…bankers, lawyers, judges, congressmen, senators, and civilian federal employees.”

      Comes right out of hell itself.

      You contradict yourself. But the most absurd statment is this one,

      ” The real bitch of it is that our forces that have been in Iraq/Afghanistan, and circling Iran, will be stranded. Our government will simply run out of acceptable money in an instant. No funding will be available to bring them home.”

      They won’t be stranded.

      Here is the big three, ever expanding mistakes our leaders have made and these will cause us to self implode and enter into WWIII. The global or domestic events that Michael posts are but tremors in the financial sectors of the economies, excluding natural disasters, which can be tied to these main three biggest mistakes America has made over the last 100 years.

      1.) 1913 – The Federeal reserve system
      2.) 1935 – the birth of the welfare, nanny federal government
      3.) 1973 – The petrodollar system.

      Exterminating the working class that remains, as you suggest -the ones started this mess, …is much worse then these three mistakes I’ve just mentioned.
      That idea belongs to hitler and his class.

      Just clam up and prep, will you?

      • Save the Republic

        bankers, lawyers, judges, congressmen, etc., are not the working class, they’re the NON-Working class.

        • GSOB

          Hey Save the Republic

          Is that a joke? Or are you hitler’s son?

          • Save the Republic

            What have people in these positions ever produced? Zero. They just siphon off people that do.

      • Malcolm Reynolds

        Awesome post.

    • Save the Republic

      I believe the extremity of the situation will be much like what you describe. I think many people are trying to downplay what’s coming because they don’t think it could turn out that way. They think because it’s never happened that way, that it never can, which is foolishness. We must be prepared for any eventuality.

      • http://itsafluffy.blogspot.com DL.

        It’s called “normalcy bias”

  • Paula NZ

    Considering the comments such as from Doug Casey, and today on Drudge Ms Merkel is over in China in discussions .. any chance of the Russia/China/Germany new EuroAsia combo, when things start to crumble., rising out of their ashes.?

    • Susan

      Good question. I am wondering about that also.

  • steve myles

    The facination with the economic collapse reminds me of the facination with the book of Revelation. If you are a believer, in the Lord Jesus Christ, then the end game is already known. It would be interesting Michel if you would express your feelings with a little bit more of your faith and hope in the ultimate outcome. People need hope in the eternal. I personally like your articles and think you probably have your finger on the thing. What happens after? Despair, Loss, Defeat…….. What about “Take no thought for tomorrow what you shall eat or what you shall drink or what you shall wear but seek ye first the Kingdom and all these things will be added to you” Let’s talk about that a bit along with your articles. Thanks for listening.

    • Michael

      Steve:

      I try to keep this site focused primarily on economics because that is the door that has been opened for me, but I am definitely not shy about talking about spiritual matters.

      In fact, I encourage everyone to go check out this article….

      http://whatdoesthebiblesayabout.com/archives/what-does-the-bible-say-about-salvation

      Michael

    • GSOB

      Hello steve myles,

      Your statement says enough,
      “People need hope in the eternal. ”

      Guess what?
      We are getting a mormon president or a muslim president.

      Go figure that out,…

      I’d rather prep in faith while keep up with the pulse of the economy with the assistance from Michaels website.

      • Michael

        The pulse of the economy is getting harder to detect with each passing day. :(

        Michael

      • Alasha

        i will b sooooooooooooooooooooooo shocked if Romney wins, even with crummy economy. then again i soooooooooooooooooooooooooo shocked the last presidential election 2. lol

  • apocalypse

    ************ just crash already! stop trying to reanimate this corpse! let it all die! apocalypse now!

    • GSOB

      apocalypse

      Your comment reflects your inexperience.

      It reminds me of a young man going off to war with only the experince of playing cowboys and indians with his friends in his backyard as a kid.

      • Save the Republic

        If it’s going to happen, why would you want to keep prolonging the agony? Unless you’re one of those that isn’t feeling the pain? If you are, stop being selfish while the rest of us have to suffer, because you will receive your reward. Just let it crash already and let us move on to whatever new future awaits us, so we may begin to rebuild towards prosperity.

        • GSOB

          To Save the Republic

          Yea, uh huh… let’s move on after the fallout, so we can hurry up and prosper again,….

          prosper by way of building a pluralistic and polytheistic, humanistic utopia.

          Good thinking. What do you suppose would be different?

        • chunkeroo

          STR, I agree w GSOB and their comments on Apocalypse. The crash is going to be so bad … SURVIVAL not rebuilding to prosperity will be the goal.

          Our modern generation is a generation of “hot house flowers” and to degenerate from a modern digital economy to industrial or even agrarian economy is hard to fathom. Even the lower class american or european has so much that we take for granted – that wont exist after this crash. Large, beautiful, powerful comfortable vehicles and decent roads give us freedom. Clean water, roads, low crime, efficient mail/postal system, food flown in from all over the world, electricity, sewers, medications, leisure time and amusements, technology of all sorts…we really have it good. Transportation could become very difficult if not impossible. Air travel could become a thing of the past.

          I mean agree things arent getting worse…but I dont think the average american can even fathom what is coming and has the skills to cope or adapt or survive. It will be many years if ever we recover in our lifetime.

          There have been other crashes like Argentina recently….but if you study that- it was a localized problem and the stories I read from people who survived through that basically it sux – almost MadMax. And it still hasnt recovered 12 years out. The thing is, Argentinians were able to get USA dollars after their currency hyperinflated or they could leave and go somewhere better like Spain. When this thing hits- there wont be a alternate currency or a better place to go!

          I have been thinking about this a lot. As much as we may complain – things now will look like paradise compared to this.

          I cant imagine anyone who will do well in this time. Even if you are uber rich (however you define it) being in a country of healthy middle class is much safer than rank poverty and desperation.

          • Save the Republic

            Yes, it will probably be horrific. But what is the alternative? Linger in this misery of an economy for 10 years, and then have to deal with it? By then, we will have even less resources to remain prepped, since inflation and income disparity is constantly eroding our purchasing power at this point. Or shall we be the generation that doesn’t want to feel the pain, so let’s sacrifice any chance our children and their children might have a better life in the future. How cowardly is that? It is going to happen anyway, so why not get some courage and fight it head-on, rather than trying to wait it out and pass it on to our children like cowards. It’s time for America to take a stand and stop being wusses.

            If you wanna get better, you got to take your medicine, even if you don’t like the taste.

      • Malcolm Reynolds

        Did you know that inexperienced troops were purposely selected for the D-Day invasions for this same reason. They knew that using a bunch of highly experienced combat troops would likely cause the invasion to fail.

        • GSOB

          To Malcolm reynolds,

          Your statement,

          “Did you know that inexperienced troops were purposely selected for the D-Day invasions for this same reason. They knew that using a bunch of highly experienced combat troops would likely cause the invasion to fail.”

          does not make any sense to me, whatsoever.

  • steve myles

    Sorry about the spelling error in your name Michael. You have a great forum to express your faith.

  • chiller

    I for one look forward to witnessing the global, nuclear financial explosion as it wipes out corruption and ill gotten gains everywhere. Keep an eye out for those who remain and attempt to push their most diabolical plan yet…the one world currency or government. When this happens, EVERYONE MUST pick up any and all arms, seek these miscreants out and put an end to their evil once and for all. This is the end result of their master plan, and while no one here has any proof this could occur, you can bet your bottom dollar all of this IS the plan should it ever be announced. All main stream media MUST be silenced during this time to prevent the evil from distorting the truth. This is where the rubber meets the road folks. A turning point where you keep freedom’s future in tact for your children and loved ones or lie down and let them all become slaves at your cowardice.

    • Kris

      “When this happens, EVERYONE MUST pick up any and all arms, seek these miscreants out and put an end to their evil once and for all…”

      Romans 12:19
      Do not take revenge, my friends, but leave room for God’s wrath, for it is written: “It is mine to avenge; I will repay,” says the Lord.

      God will slay all evil in the end times, not us. Besides, the NWO people will be working with the anti-christ who will have unexplained powers (given by satan), you’re not going to be able to defeat without God.

    • Malcolm Reynolds

      Contrary to what you wish to happen.

      The collapse is going to produce hard times for us not them. Once we start drowning under the collapse, They actually become freer to carry out their plans of one world govt and slavery for all. It absolutely will not wipe out their corruption, but assist them in cementing it and enslaving us.

  • steve myles

    OK Fascination is spelled that way. It’s EARLY

  • Big Dave

    I think Obama will do anything to keep the markets from crashing before the election. Quantitative Easying is a good bet. Can you imagine how the media will report the economy if Romney wins? It will make your insightful articles look like a stroll through Candy Land.

  • Bill

    The problem with stock and bond prices is that there is very little backing them except the very people who are enriched by their inflated values. Recently, the Financial Accounting Standards Board (FASB) has been attempted to provide more transparency for infrequently traded and derivative-based securities by forcing reporting entities to understand how the bonds in their portfolios are valuated. Unfortunately, when they approached the Broker/Dealers for their pricing inputs, they refused to provided them as “trade secrets”. So FASB told the reporting entities to not use Broker/Dealers as a pricing source anymore if they could avoid it and instead use IDC, S&P, Reuters and others.

    So to gain a better understanding of how the big pricing services obtain their prices, the reporting entities turned to IDC, S&P, Reuters, etc. and asked them to provide their pricing inputs and guess what? Most of their securities are priced by Broker/Dealers!

    So how much is that Bond or Mutual Fund in your portfolio actually worth? It depends on who you ask, but chances are it’s barely worth the paper it’s printed on.

    Indeed – in the financial markets anyway – The Emperor Has No Clothes!

  • Mark

    Shan – You’re right. It is government debt that is killing our country. The needless pork that is spent is going right over everyone’s head. However, if those investors flee the credit markets, that will have devastating effects world wide. Once investors start pulling out of the US Dollar investment, it’s over. We will not be able to stop the hemorrhaging of entire world investors pulling out of US investments (bonds). It’s going to happen because our government still hasn’t stopped spending and finding solutions.

  • Big Broski

    This will be their excuse to take everybodies 401K to shore up the Government!!

  • Alan

    Good timing again right before the election. Don’t know if that means anything. I’m sure if the system collapses it probably won’t be reported in the state run media.

  • http://www.booksbyoliver.com GreenLeaf

    If the market crashes in the fall then we’ll see some sort of ‘crisis’ in the Middle East first to distract us.

  • Ron Sting

    Hi! Look!! The telegraph article is a 2011 one!!!!!

    • Michael

      I know – I need to start checking the dates of the articles people send me more carefully.

      Sorry about that.

      Michael

      • Ron Sting

        No problem body. I am a frequent reader of your blog. Sorry for my bad english. I am spanish from Spain. So I am very interested in this type of things…

        Congratulations for your blog!!

    • GSOB

      To Ron Sting,

      And the last photo was from 1929….

      whats your point?

  • Debbiejoann

    Michael,

    The first link in your article “Market crash ‘could hit within weeks’, warn bankers” is datelined 24 Aug 2011–LAST year not 2012.

    • Michael

      You are right – I hate it when I make a mistake like that. :(

      Michael

    • GSOB

      Debbiejoann,

      The last photo was from 1929…

      What’s your point?

      The more things change, the more they stay the same?

  • michael

    The Church, when there was a Christiandom, condemed usary. With the so called reformation usary was institutionalized and the mondern banker, money lender, was born. The issue of usary is not complicated but it is subtle. Usary is interest on an unproductive loan, ie a loan with the expectation that it will be paid back regardless of where the money comes from to pay for it. Most money lent in the world today is of this variety and that is the problem. not for the villianous bankers but for you and I. we have only two places to go, toward a Christiandom without schism or the depravity of the world with out. so keep your rosary in one hand and your glock in the other. :)

    • http://itsafluffy.blogspot.com DL.

      Look, I hate Islam (I’m a woman, for one thing) as much as everyone else on here does, but NOT MUSLIMS (unlike most people on here). I respect the fact that Muslims do not practice usury.

  • YAKEKA

    We have to organize as much as possible before this happens !!! Being very honest I´m really happy not living in the USA. It will be a nightmare all around the world, but I think in your country your government is taking “extra precautions” to “control” the situation, and that can get very dangerous. As a child I lived under an “Exceptional regime” that lasted more than 15 years and I can tell you, it wasn´t a nice experience. If I can give an advice, it would be to keep a low profile in every aspect of your life, and don´t refuse to give a hand to other people, you never know when you are going to need one yourself.

  • lee

    I do not expect a crash until sometime in 2013. If you notice, despite almost all of europe entering a recession over the past 3 months, europe has still keep things rolling and the US has also kept rolling along despite recessionary numbers in many sectors. our local financial show in Houston, which correctly called the start of the last recession; has said that all the printed money has essentially pushed a recession into 2013 and i am inclined to believe them.

    That doesn’t mean that i’m not prepping now to be able to go 3 months without food, water, electricity, money and fuel; but i’m not prepping to need to go for longer than that YET.

    “The system is not looking out for you. Nobody is really going to care if your financial planning gets turned upside down. This is a cold, cruel world and you need to understand how the game is played. The financial insiders are looking out for themselves and most of them usually are able to avoid financial disaster.”

    Unfortunately, I have come to this conclusion since 2010. Despite being such an active GOPer that in 2004, I actually flew from Houston to Minneapolis to turn out the GOP vote; the 2010 and 2011 House GOP has shown it will do no more than it has to essentially cutting pocket change from the budget.

  • W. R. Flynn

    It’s not only government debt this time. This time we have a few additional elements stressing the economic system. Resource depletion, especially oil, is forcing up the cost of basic raw materials. Oil scarcity will be an economic stressor from now on. In the past cheap and plentiful liquid energy was fundamental to recovery. Not this time. Those days are long gone.

    The “money printing” we’ve seen in QE1, QE2, and soon-to-be QE3 are digital dollars intended for banks and which cannot and will not be carried (in wheelbarrows like before?) by commoners. Will it be carried on cards? Maybe, as long as the banks remain open. It past crisis they’ve been closed for periods of time. A bank holiday will put an end to ATM cards. Since there’s so little actual paper cash floating around that means much less economic activity in a time of crisis.

    Looking at those other four dates we see only one year where the USA was buried in a series of so many pointless wars, none of which have any impact on our political or economic national security. With the exception of 2008, where the can was kicked down the road, now ready for another possible kick, the economic system is stressing far worse than it was in 1929.

    The unprecedented interconnectedness of the worlds digital economy is unlike anything we’ve ever seen. If one part of the world (Europe, China, India … etc.) performs well the rest do, too! If one or more areas fall into economic turmoil the others fall ill, too, and to a greater degree than ever before. Well, the rest of the world is stressing right now.

    In the past we haven’t entered a major national crisis with such a high population, high unemployment (around 15%), so many people dependent on monthly government payments (about half) or with so many reliant on food stamps (nearing 20%). This one’s far different. Very different. And this is one economic disaster we won’t recover from.

  • leena

    An interesting time to be alive. Looking at future maps of the US, the fact the Mayans clock hasn’t been wrong in 25,000 years and the teaching that has been passed down about 3 days of darkness well, I think the elite know about the coming change in the axis of the planet which is supported by all the bunker building, fortifying and the recent $170 million in meat Obama purchased because”they have alot of freezers”. They don’t give a flying **** about the financial situation, how much debt or if the stock market crashes. They know a mile high wall of water is going to cover the US when the plates start moving. All they care about now is securing their hideouts, vacuuming off as much wealth as they can and keeping the sheeple from panic before the planet rocks and rolls around.

    • GSOB

      leena,

      I think you are way off on this one.
      ‘A mile high of water is going to cover the US…..’

      it’s a little looney, leena.

      • SuperBigHuge

        Gosh, I’m so glad you were here to correct people. Nothing like a know-it-all.

        • GSOB

          To SuperBigHuge

          Thanks for summing me up as a know-it-all. Fits your handle.
          I can take that as a compliment and/or as a politcally correct way of saying stop correcting people with there errors.

          Cut to the chase will ya? Get to your point. Where am I wrong?
          Do you like wading through sh** or do you want shared truth and knowledege of what truth I do know and other’s know?

          Not everyone is right yet everyone has an opinion.
          This blog is a forum to share those opinions concerning what is true and right or wrong.

          I don’t know all but I sure know something and you, my co-blogger,
          are not so SuperBigHuge as you think you are.

          oh… and I’m still here.
          Can you teach me something?

  • NorthernCanuck

    Need to get away from it all but can’t afford to?

    No problem! Now you can do it virtually, and at no cost.

    Share the ‘normal’ for the top 1%, kick back and relax for free, high above the toiling masses…

    “Can’t afford the ticket? Then treat yourself to this video of man’s very indulgent experience of first class travel in A380 super jumbo”
    http://www.dailymail.co.uk/news/article-2195067/Cant-afford-650-ticket-Then-treat-mans-video-class-travel-A380-super-jumbo.html

  • I am Tyler Durden’s contempt for the system

    This is the end
    Beautiful friend
    This is the end
    My only friend, the end
    Of our elaborate plans, the end
    Of everything that stands, the end
    No safety or surprise, the end
    I’ll never look into your eyes…again
    Can you picture what will be
    So limitless and free
    Desperately in need…of some…stranger’s hand
    In a…desperate land
    Lost in a Roman…wilderness of pain
    And all the children are insane
    All the children are insane
    Waiting for the summer rain, yeah
    There’s danger on the edge of town
    Ride the King’s highway, baby
    Weird scenes inside the gold mine
    Ride the highway west, baby
    Ride the snake, ride the snake
    To the lake, the ancient lake, baby
    The snake is long, seven miles
    Ride the snake…he’s old, and his skin is cold
    The west is the best
    The west is the best
    Get here, and we’ll do the rest
    The blue bus is callin’ us
    The blue bus is callin’ us
    Driver, where you taken’ us

    • http://ianwelling.com Ian

      that song is about ingesting psychedelics and the end of your normal perception.

      by the way.

      • GSOB

        You would know Ian

    • Tim

      Jim Morrison was very talented. It’s a shame that he was so rebellious and chose a path of self-destruction. He died at the very young age of 27. How sad.

      What’s interesting is that it seems that he came from a good family. There are videos on Youtube with interviews of some of his family members, including one with his father. His father seems like a good family man who loved his son.

      • GSOB

        Hey Tim,.

        Mormons seem like good families too…. don’t they?
        Mitt will show us the trecherous way to all truth within this familial deception.

        • Louise in MO

          To GSOB

          Mitt Romney IS a good family man. A Mormon President is far better than one who spent twenty years in a church that preached “Black Liberation Theology.” As admitted in Obama’s book “Dreams FROM My Father” “I was raised as a Muslim.”

          Mormons are no more to be derided than the Amish, who also have a different lifestyle and beliefs. Freedom of religion is a freedom I don’t want to lose!

          • GSOB

            To Louise in MO

            Thanks and Hello to you in MO – from CO,

            All religions can be boiled down to two:
            The true and the untrue.

            Also, there is no one who is good, ….only one.

            Mormonsim is the ultimate counterfeit of Christianity, worse than the Muslim religion. 2nd would be the JW
            (Jehovahs’ Witnesses) – in my humble opinion.

            Don’t buy into the lie that a Mormon President is better than a “Black Liberation Theology” taught President (which really – has nothing to do with the muslim religion)… because, one is blatantly obvious…
            Mormonism is not of the true religion.,,, it is the ultimate deception served up by the father of lies SATAN – himself. The counterfeit of Christianity.

            That’s why Obama got the first shot as President – all by the soveriegn and true God – My Lord Jesus Christ. God is wrapping things up according to his purpose and good pleasure. God sends the lie to those who don’t believe in the gospel in order to sift us out.

            The worst is yet to come – with a devout Mormon President in office – it’ll dilute the truth even more, being so subtle as it is in counterfeiting the true religion.

            Romney will take us to war with Iran and I doubt that he will repeal Obamacare.

            Many will be duped.

            Wake up.

          • http://itsafluffy.blogspot.com DL.

            Romney’s religion is not Mormon…it’s MAMMON!

  • dianec

    I would like to know what everyone is doing about the money YOU have in the bank, and the money YOU have in the stock market and the money YOU have sitting in your retirement.

    PLEASE… I am about to retire next year and I don’t know whether to take all the money out soon, and if I do, is the dollar going to mean anything. I still think the other countries will try to keep the dollar strong, but I’m not sure about anything.

    I have money in an IRA and of course my financial adviser only tells me what his company tells him to say. I have been very up front with him about all of this and I guess he thinks I crazy. Well….maybe, but I can’t afford to retire with no money coming in. Don’t get me wrong, I have been storing food, etc, but it is the actual money I am worried about. Yes, I should buy some gold, but that is not easy to do in a rural area. I do have some silver coins, etc.

    Please share with us, what all of you are doing.

    Thanks, Diane

    • Bill

      My advice, for what it’s worth, is not to invest in gold or silver or dollars because in the event of a global economic collapse, all currencies will be essentially worthless. (Gold and silver right now have been artificially devalued by the big banks because they’re starting to treat it like fiat currency!)

      Therefore, what I’m doing is investing in things that I’ll be able to make or grow to sustain both myself and my family, and I’m relocating to a place where I can be close to people I know I can count on who’ll have my back and who’ll I’d gladly give mine. If you cannot relocate due to work obligations, then I suggest the purchase of a “vacation” home or co-op where you and your friends/family can retreat to in case the worse happens. If things don’t go badly, at least you’ll have some real-estate to sell in your retirement and in the meantime, you’ll have a nice quiet place to go on vacation!

    • leena

      no cash in banks. Period. No cash in stocks or an IRA/401K. Take the money out, pay the taxes and buy silver bullion and anything you think you might need to eat for at least 6 months. Various ways to store your silver- vaults to a special place of your choice. That special place is more in your control than a bank or “retirement portfolio”…

    • T.M.

      Dianec,

      Your concerns are well-founded. There is no way out of the economic situation that we’re in. This nation has accumulated the biggest mountain of debt in the history of the world, and our debts are unpayable. The only thing “they” can do is what they’ve been doing and that is to print. So it’s a sure thing that the U.S. dollar will continue to lose value. Therefore, I personally think it’s wise to have a position in physical gold and silver as a hedge against inflation. There are many online precious metals dealers that you can buy from, and the metals will be shipped to your home.

      Tim

    • Gay Veteran

      better stock up on items you can barter: sugar, coffee, tobaco, alcohol (drinking)

      • GSOB

        Not bad Gay Veteran…

        Go to the store and buy 100 two shot bottles of booze to barter with.

    • Mondobeyondo

      My advice:
      Be prudent. But be smart.
      Paper money will eventually be worthless.
      Gold and silver hold their value over time.

      Diversify. Diversify. DIVERSIFY!!! Can’t emphasize that enough!
      Ancient Chinese saying: “He who has all his eggs in one basket, loses all eggs when brick crashes through nest.”
      Have some money in precious metals (actual physical gold and silver is best in my opinion). The stock market is risky, to say the least. Don’t buy stock in Facebook. (wink, wink). Keep some in a mutual fund, if you have one. Some in an IRA. Some in a cash based checking or savings account, although that’s not the best option (again, just my opinion) since savings accounts earn next to nothing because of the low interest rate.

      And $193.27 at an undisclosed location, for good measure (when the local utility comes asking for their payment. Gotta keep the lights on in this house!)

      As for myself, I buy silver coins at swap meets, for two reasons:
      1) the obvious silver value/hopes for rising value, and –
      2) the historical value. Bought an 1861 quarter a couple weeks ago, looked at it, and thought “Abraham Lincoln might have used this coin to actually buy stuff! Cool!” Most likely not, of course, but… maybe some Union or Confederate guy did. You never know.

      • Mondobeyondo

        An aside: If you do try the “looking for jewels at swap meets” advice – be warned: Be careful for frauds.

        Silver coins have a distinctive “ring” when you drop them on a hard surface. Post-1965 silver coins have a dull thud. More like “splat”. Remember that, the next time some guy tries to sell you a 1974 “silver” dime. It’s not real!! I’ve been collecting coins since 1977, since I was 11 years old. I know.

        And those “Sacajawea” dollar coins you get from the coin dispenser at the post office? They are not real gold. I thought everyone knew that, but apparently not.

  • http://www.survive2balive.com GA

    It is completely unsustainable. The average person is going to find out when a bank holiday is declared. Then there will be pure pandemonium. Don’t allow yourself to get caught by surprise. Please don’t just think or talk about it, act now! Get a preparedness plan in place so you may endure with as little pain as possible. Check out http://www.survive2balive.com and learn some basic preparedness strategies. Educate yourselves, learn valuable skills, and get your act together before it is too late.

  • http://www.surviving12-21-2012.blogspot.com Doctor Blue

    Prepare for what is at hand, you have precious little time left.
    Warning to the wise, PREPARE!
    What is coming will be nothing short of HELL ON EARTH.
    Theft, Murder, Rape and even Cannibalism on a GRAND SCALE, the likes of which the earth has never seen before!
    PREPARE with guns, bullits, food, water, water filters, toilet paper, batteries, propane anything else you need to survive in a cold cruel world alone with no chance of getting supplies or anything after the event hits…
    PREPARE TODAY, as there will NOT be a Tomorrow!
    The coming event will be nothing short of a Buzzsaw ripping through the heart of America cutting it wide open and into many pieces. And it wont care who you are, the money you think you have in the bank, it wont care about your wife, your kids, your pets or your neighbors it will grind them all up like hamburger and spit them out…
    Billions of people around the world will be hungry, thirsty and desperate!
    Not a pleasant outlook for those who – DO NOT PREPARE

    • GSOB

      Doctor Blue,

      So true,.. prepare for the worst.
      We need to not only prepare while the gettin is good, but we need to protect what we prepare.

      When people realize that, many are turned off to the idea of preppin.

  • JAH666

    A stock market crash might just begin to focus the attention of the vast majority of Americans that haven’t a clue what is going on around them and what is coming. It is obvious that EVERY member of the government, at all levels, knows what is coming and cannot face the truth and speak it to the citizenry. It is my belief that they know it CANNOT be fixed without massive pain for generations to come, so they just don’t want to deal with it.

    Here’s a simple, black and white presentation (five Minutes) by an accountant that shows what is happening, and WHY IT CANNOT BE FIXED!

    http://www.youtube-nocookie.com/embed/EW5IdwltaAc?rel=0

    May God have mercy on us all.

  • http://ianwelling.com Ian

    No… a crash is not coming in the fall. Nor is it coming next year. Nor is Obama the antichrist. Nor is the world ending.

    I am saving this article on my computer alongside the same exact one from last year which predicted a fall and a crash in the autumn.

    I for one do not have a short term memory. This economic collapse stuff is becoming predictable and boring. How much time are you people wasting sitting around predicting something which may never happen?

    • GSOB

      Ian,

      You are in very much doubt on just about everything, I bet.

      You need to prove to yourself that you are not, so you collect reasons not to use the common sense available to you, by playing pin the donkey with the educated speculations shared here at this website.

      Take the blinds off and start prepping.
      Remember Noah?

    • tak

      ian, mike has never given a time for a collaspe.again look at the 5.3 trillion that ubaoma has spent this has given the Us more time but when the shtf you will see for yourself,look around it started but it is coming on very slow

    • El Pollo de Oro

      No, Barack “Goldman Sachs” Obama is not the Antichrist. But he has made deals with The Devil (i.e., Wall Street, banksters, the health insurance lobby, the military/industrial complex). Not that Mitt “Wall Street” Romney will be any better when he gets in. As Gerald Celente says, you can’t count on the Gambinos to save you from the Bonannos.

  • AOS

    @dianec and everyone else:

    You are not the only one whose financial advisers are calling you crazy. I called to remove all my money from mutual funds and he flat out asked me if “this was an end of the world” thing! I was shocked, but quickly said give me half now and I will call back for the other half later. He wasn’t happy. Ironically, it’s a Morgan Stanley brokerage account. Needless to say, I’m not happy with them or this dire situation.

    I am still undecided what to do about my 401(k) as I am still putting money into it. I may suspend all future funds temporarily and let it ride out.

    We were not forewarned in 2008 and I lost thousands of dollars. This time, I will be prepared and everyone else should be too!

    Good luck to you all!

    • dianec

      @AOS – thanks for your response. I moved everything in 2008 to treasury’s which they didn’t like, but only lost a very small amount compared to so many others.

      I am taking cash out of the bank on a weekly basis just to have some at home. Other than that, who knows!

  • Robert (qslv)

    Thanks, Michael for keeping this place going.

    I get the feeling that this is going to be different from anything I’ve experienced in my short 60+ years on earth. Makes me think of the Chineese curse “May you live in interesting times”. Since everyone’s situation is different, there is no pat answer as to what specific things should be done to prepare for this. A little cash, a little metal, a little food, a little water, a little ammo? Transport plans, way stations on the underground railroad to the Heartland? Preferrably a “Hole in the Wall” hideout in the wilderness? We are all doing some of these things, probably none doing all.

  • Rusty

    Yawn, more “doomer” predictions of TEOTWAWKI.

    It piles up so fast on this blog you need a jet-pack to stay above it.

    Sure, you do a good job of documenting the struggles, but your predictions of a collapse are laughable.

    • GSOB

      Rusty,

      How about getting some oil to lubricate the cognitve functions of your brain?

      Go do something positive elsewhere if you can’t find the grace to do just that here.

      Remember Noah?

  • Skip Breakfast

    dianec

    You’re smart to take your money out sooner than later. We just don’t know when things will get a lot worse, and you are close to retirement now. I for one think you will be well placed to be in dollars for a while yet…as long as they’re dollars that you can access and that don’t get vaporized in a series of financial shocks. There is time to convert from cash into other assets like gold LATER. I”d keep cash for now. We’re still in a dollar world and will be for a couple years at least!

    I’m convinced that money will become harder and harder to extract from retirement plans in the very near future. It can be costly to withdraw early. But the price is high for withdrawing too late–i.e., you won’t be able to withdraw anything. It’s a personal choice how muchr isk you can bear. I see the penalties/cost as necessary insurance costs to protect against completely out of this world risks.

    • GSOB

      Skip Breakfast

      I agree with those thoughts presented to dianec in your comment.

  • the ragged trousered philanthropist

    Fair play to you Michael we need to be kept on our toes.
    Every week I keep expecting banks to declare a “bank holiday” and advise everyone I know that if they do nothing else then make sure they are not metaphorically caught with their “pants down” at the weekends.
    I advise them if they do nothing else then at least always make sure they’ve got some cash on Sunday and they do not need to use a credit card to purchase anything on a Monday.
    A ridiculously small measure, I know, but so basic that few even think about it or articulate it. But would/will be of tremendous help when all the banks suddenly do close, as I’m pretty certain they will in the not too distant future.

  • Washington

    George Soros At It Again. Paying For ‘Trackers’ To Hunt For Dirt On GOP Candidates

    http://weaselzippers.us/2012/08/28/george-soros-at-it-again-paying-for-trackers-to-hunt-for-dirt-on-gop-candidates/

  • Karen

    I know a earthquake is coming in the latter part of September must be moved from the coast lines by then the eastern coastline and the gulf of Mexico and along the new Madrid fault line

  • GSOB

    Taxmageddon in 2013

    A Tarus .357 revolver is excellent

    All the civil riots and unrest coming to a theater near you.
    Work on your BOB folks.
    Work on your BOL

    You an’t seen nothing yet (BTO)

    http://blog.heritage.org/2012/06/15/morning-bell-how-taxmageddon-will-impact-you/

  • Mad Max

    Everything’s going to eventually crash. All the problems we’ve been ignoring are about to smack us in the face. It’s impossible to ignore now.

    FIGHT THE CAUSE – NOT THE SYMPTOM
    OsiXs (Revolution 2.0 – The Smart Revolution!)

  • John Jackson

    Another gem Michael. I could not agree more, “it is not a matter of IF, it is a matter of WHEN” at this point. It does not take a genius to know the current system is broke and unsustainable. However, instead of focusing on the horror that is to come, focus on the opportunity…

    http://theelevationgroup.net/presentation/register.php?a_aid=a6affed9&a_bid=e6b01db8

  • El Pollo de Oro

    Michael T. Snyder writes: “We aren’t seeing a failure of capitalism. What we are witnessing is the failure of debt-based central banking.” Bingo. Capitalism is not to blame. As Ron Paul points out, we haven’t had true capitalism. Nor is the problem “socialism” or “communism,” as neocon corporate apologists and Wall Street’s useful idiots claim. The problem with The Banana Republic of America (formerly Los Estados Unidos) is FASCISM. Naked, raw, vicious fascism. What we are seeing is the merger of state and corporate power, which Signore Mussolini, a.k.a. Il Duce, defined as fascism or corporatism. And the fascists of Wall Street, as Gerald Celente and Alex Jones often warn us, are guaranteed a victory in November regardless of the outcome of this farce of an election.

    Perhaps Barack “Goldman Sachs” Obama, candidate for the Democrap wing of the War Party, will win; my money (which ain’t what it used to be because small business owners don’t get bailouts in this Third World snakepit) is on Mitt “Wall Street” Romney, candidate for the Republi-Con wing of the War Party. But either way, the fascist banksters are guaranteed a victory—and the BRA will slide deeper and deeper into the abyss. The BRA is so corrupt, so diseased, so far into the sewers of criminality that the suffering can only get worse.

    “It is clear that the purpose of the police state is not to protect Americans from Muslim terrorists. The purpose of the police state is to terrorize US citizens.” —Paul Craig Roberts

    “You can sum up what has killed capitalism in four words: too big to fail.” —Gerald Celente

    “We have two choices, only two. And it’s not Romney or Obama. It’s fascism or freedom, and I’m voting for freedom.”—Gerald Celente

    “The fish rots from the head down, and the fish is rotting. The rotten fish is Wall Street and Washington.”—Gerald Celente

    “If you’ve studied Rome, you know that wealthy nations do collapse into Third World squalor when they allow their currency to be debased.”—Alex Jones

    “Brace yourself. The American empire is over. And the descent is going to be horrifying.”—Chris Hedges

    Yes, horrifying is exactly what it will be. Welcome to collapse of empire. Welcome to hell. Welcome to The Banana Republic of America.

  • major

    Why would there be a repeat of what happened in 2008 unless it was being engineered to happen. Usually election years are strong for the market because politicians want to be re-elected. If it happens, i would say it was orchestrated for political reasons, false flag event to declare marshall law and suspend the elections. If thats true, a lot of politicians will need to be tried for treason.

  • xxxx

    reading all the above comments that range from scared to fearful to worried, these are the times that have been referred to as ‘ buy when there is blood on the streets’! i could sound crazy but whatever has been commented above forms a part of the negativity that is inherent in the quote above; just imagine all of you pulling out of the markets just because the market is expected to shed 20 or 30 percent which is normal in any market pullback; the commentators pat themselves on the back and come out with ‘told you so’ stories and further scaremongering of another 50-60% decline to come; everybody is now super scared as these guys have turned out to be right, and could possibly be right again; everyone is bailing out left and right, praying and sidelined only to watch the unbelievable unfolding right infront of their eyes on a daily basis: the S&P hitting 2000 and DJI 25K. The fun starts, markets go haywire; S&P rockets to 3500, DJI to 35/40K;
    same commentators having missed the major moves now turn bullish and start yelling at the top of their voices about S&P going to 5k and DJI to 50/100K.

    Thats when you have to get off the train folks, you could get off even now to get back in 20/30 percent lower but be quick if you do.

    yes things look bad, yes governments to individuals are over-laiden with debt, yes government spending is out of control, yes the printing presses are open, yes and yes and yes and yes; but remember this is not 1929 and its not going to happen as doomsayers are predicting it; yes it will happen but that will be when everyone having missed the boat now wants to be on the boat regardless and is paying a premium to get on it.

    thats the time to get off the boat folks.
    so relax but please stay on guard !

    the end to the bull market is still a couple years away.

  • Covington

    Might want to add The Jack Ass news letter to the list of sights warning about Morgan Stanley. Not peep in mainstream media.

  • libherT

    Funny enough in this side of the atlantic we are chatting about the same stuff.

    “””Europe is a full cycle ahead of the U.S. Its governments and its banks are both bankrupt. It’s a couple of drunks standing on the street corner holding each other up at this point. Europe is in much worse shape than the U.S. It’s highly regulated, highly taxed and much more socially unstable.

    Europe is going to be the epicenter of the coming storm. Japan is waiting in the wings, as is China. This is going to be a worldwide phenomenon. Of course, the U.S. will be in it, too. We’re going to see this all over the world.”””

    The US are ahead of us, the crisis started in your side, remember the subprime.
    California is in the same shape that Greece ( but Greece is much poorer ). There is no town like Detroit other this side. There is no city bankrupped in Europe.
    Right but in Europe the state help you much more than in the US. That make social unrest more difficult to explod. And there is less gun in the street .
    You tell us a big financial institution is going to fall in the US. Later you tell us Europe will be the next to go down….. I don t get your point.

    Now the big question is …. Who go down first the US or Europe. I don t want Europe, because I don t want to see the GI s dying on the normandy beach….. If you know what I mean . Since that time, Europe has lost much of her culture.

    Now good luck and all the best.
    A frenchman

  • http://thelawsonpost.com/ KL

    Great job as usual… Thanks for the great info. I will re-post this article on my site and of course credit you and your site in order to get the word out. You are doing Gods work please keep it going and I will do my part in sharing the information with everyone that will listen. God Bless you and yours Mike!

    • Michael

      KL:

      Thank you so much. I am always honored when others consider these articles to be good enough to post elsewhere. As far as I am concerned the more places they get posted the better.

      And I hope that everyone will check out your site….

      http://thelawsonpost.com/

      Michael

  • Crying Wolf

    Not saying that it can’t happen, but isn’t this the same question we ask every year since 2008?

  • slingshot

    They control the money.
    They control education.
    They control the government.
    They control the news media.

    They have the ability to draw this out for sometime but eventually it will collapse. The collapse will come when they can no longer extract the wealth of this nation from the general public.

    They have debased our currency to the worth of monopoly money.
    Our educational system turns out more functional illiterits than ever.
    Our two political party system/ government is just lip service.
    Our News Media only prints what they deem is printable.
    A stock market crash is only one part of the plan.
    What is in store for us after, is very problematic

    • Michael

      Yes, it seems the elite (whoever they might be) control how our economy functions. They will make it collapse when it best suits them.

    • g.sisemore

      a microchip in your hand or forehead….oh, sorry, i thought we were supposed to pay attention.

    • Glench

      I got screwed by a so called friend back in the early 80’s (made the mistake of giving him control over some of my money)… taught me a valuable lesson…

      Never ever give anyone control over your money…

      As sick as it sounds… I believe people need to ‘get burned’ once in their lives, hopefully not badly, in order to be taught this valuable lesson…

      The other day I had to go see a doctor (first time in about 30 years) because of a cut and broken finger… the waiting room was packed with people who didn’t appear to have anything wrong with them… and it caused me to think of the dudes in the hospital emergency ward back in the 80’s… people had broken arms, legs, etc… one went to see a doctor in those days only when one couldn’t repair the damage themselves… seeing a doctor was viewed as a ‘last resort’…

      Our society has become ‘weak’… due to all this ‘libtarded globalism’…

  • Mondobeyondo

    Stock market crash?

    Yes.

    Timing may be off a bit, but not the final result.
    Hello, 1929! You may have heard of him before. Happy to meet ya…?!?!

  • Karen

    None of us want this enormose debt! The Gov’t needs to stop printing money. America will be like Spain & Greece, I believe that they are experiencing a Depression already, I believe that we ate heading for a global crash & this will bring the New World Order

  • American

    Amazing how much I see about the impending doom of our nation..interesting that everyone seems happy to just wait it out and see what happens. Is anyone out there actually doing anything about it? Are we just sitting ducks?

  • ArrDee

    To the skeptics – YES, we’ve heard the warnings for a while, but they have used every trick in the book and then some to delay what economically MUST happen. People should realize that a bucket of gold coins is worthless if the government confiscates them. A pen-stroke will include those “loophole” collector coins (don’t be stupid). You can’t eat gold, can’t plant it, can’t catch fish with it or shoot mobs with it. Get yourself EVEN a little .22 rifle and a buttload of ammunition. PLAN to get away from urban areas when it starts. You get trapped in a big city by martial law and it’s not going to go well. Buy some camping gear – just the basics. Don’t think you can buy or transcport food for long-term survival; get some seeds, fishing and hunting gear and plan on enough food “for a while” as you learn your new ways to grow and gather food. Finally, with ammunition – try filling a .50 cal can with ammo and then CARRY it. Instead, use .30 cal size cans and do this: Put a few boxes of ammo for each weapon type you are carrying. Put a small survival kit into each can. These you can carry and if you lose a can or two, you still have some ammunition, etc for your weapons. What good would it be to lose that heavy-a** .50 cal can holding ALL of your extra .40, etc? That weapon just became useless. Think modular, discreet and MOBILE. Do not be blabbermouthing to everyone about what you have. Don’t argue with even a spouse; get ready – buy the s*** now and do it. You cannot be reasonable – it will bury your family. Hope to see you on the other side!

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