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The Central Banks Are Losing Control Of The Financial Markets

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Dollars And Euros - Public DomainEvery great con game eventually comes to an end.  For years, global central banks have been manipulating the financial marketplace with their monetary voodoo.  Somehow, they have convinced investors around the world to invest tens of trillions of dollars into bonds that provide a return that is way under the real rate of inflation.  For quite a long time I have been insisting that this is highly irrational.  Why would any rational investor want to put money into investments that will make them poorer on a purchasing power basis in the long run?  And when any central bank initiates a policy of “quantitative easing”, any rational investor should immediately start demanding a higher rate of return on the bonds of that nation.  Creating money out of thin air and pumping into the financial system devalues all existing money and creates inflation.  Therefore, rational investors should respond by driving interest rates up.  Instead, central banks told everyone that interest rates would be forced down, and that is precisely what happened.  But now things have shifted.  Investors are starting to behave more rationally and the central banks are starting to lose control of the financial markets, and that is a very bad sign for the rest of 2015.

And of course it isn’t just bond yields that are out of control.  No matter how hard they try, financial authorities in Europe can’t seem to fix the problems in Greece, and the problems in Italy, Spain, Portugal and France just continue to escalate as well.  This week, Greece became the very first nation to miss a payment to the IMF since the 1980s.  We’ll discuss that some more in a moment.

Over in Asia, stocks are fluctuating very wildly.  The Shanghai Composite Index plunged by 5.4 percent on Thursday before regaining all of those losses and actually closing with a gain of 0.8 percent.  When we see this kind of extreme volatility, it is a very bad sign.  It is during times of extreme volatility that markets crash.

Remember, stocks generally tend to go up during calm markets, and they generally tend to go down during choppy markets.  So most investors do not want to see lots of volatility.  Unfortunately, that is precisely what we are witnessing all over the world right now.  The following comes from the Wall Street Journal

Volatility over the last days has been breathtaking, especially in bond markets,” said Wouter Sturkenboom, senior investment strategist at Russell Investments. He said that it rippled through equity and currency markets, which overreacted.

The yield on the benchmark German 10-year bond touched 0.99%, its highest level since September, before erasing the day’s rise and falling back to 0.84%. The 10-year U.S. Treasury yield, which hit a fresh 2015 high of 2.42% earlier Thursday, recently fell back to 2.33%. Yields rise as prices fall.

Sometimes when bond yields go up, it is because investors are taking money out of bonds and putting it into stocks because they are feeling really good about where the stock market is heading.  This is not one of those times.  As Peter Tchir has noted, the huge moves in the bond market that we are now seeing are the result of “sheer panic in the market”

In a morning note before the open, Brean Capital’s Peter Tchir wrote: “It is time to reduce US equity holdings for the near term and look for a 3% to 5% move lower. The Treasury weakness is NOT a ‘risk on’ trade it is a ‘risk off’ trade, where low yields are viewed as a risk asset and not a safe haven.” And Tom di Galoma, head of fixed-income rates and credit at ED&F Man Capital Markets, told Bloomberg, “This is sheer panic in the market from the standpoint of what’s been happening in Europe … Most of Wall Street is guarded here as far as taking on new positions.”

But this wasn’t supposed to happen.

After watching the Federal Reserve be able to successfully use quantitative easing to drive down interest rates, the European Central Bank decided to try the same thing.  Unfortunately for them, investors are starting to behave more rationally.  The central banks are starting to lose control of the financial markets, and bond yields are soaring.  I think that Peter Boockvar summarized where we are currently at very well when he stated the following…

I’ve said this before but I’m sorry, I need to say it again. What we are witnessing in global markets is the inherent contradiction writ large that is modern day monetary policy where dangerously ZIRP, NIRP and QE are considered conventional policies. The contradiction is simply this: the desire for higher inflation if fulfilled will result in higher interest rates that central banks are trying so hard and desperately to suppress.

Outside of the short end of the curve, markets will always win for better or worse and that is clearly evident now. The ECB is getting their first taste of the market talking back and in quite the violent way. In the US, the bond market is watching the Fed drag its feet (its never-ending) with wanting to raise interest rates and finally said enough is enough. The US Treasury market is tightening for them. Since mid April, the 5 yr note yield is higher by 40 bps, the 10 yr is up by 55 bps and the 30 yr yield is up by 65 bps.

And if global investors continue to move in a rational direction, this is just the beginning.  Bond yields all over the planet should be much, much higher than they are right now.  What that means is that bond prices potentially have a tremendous amount of room to go down.

One thing that could accelerate the global bond crash is the crisis in Greece. Negotiations between the Greeks and their creditors have been dragging on for four months, and no agreement has been reached.  Now, Greece has missed the loan payment that was due to the IMF on June 5th, and it is asking the IMF to bundle all of the payments that are due this month into one giant payment at the end of June

Greece has asked to bundle its four debt payments to the International Monetary Fund that fall due in June so that it can pay them in one batch at the end of the month, Greek newspaper Kathimerini reported on Thursday.

The request is expected to be approved by the IMF, the newspaper said. That would mean Greece does not have to pay the first tranche of 300 million euros that falls due on Friday.

Greece faces a total bill of 1.5 billion euros owed to the IMF over four installments this month.

Of course that payment will not be made either if a deal does not happen by then.  And with each passing day, a deal seems less and less likely.  At this point, the package of “economic reforms” that the creditors are demanding from Greece is completely unacceptable to Syriza.  The following comes from an article in the Guardian

Fresh from talks in Brussels, Tsipras faced outrage on Thursday from highly skeptical members of his own Syriza party. A five-page ultimatum from creditors, presented by the European commission president, Jean-Claude Juncker, was variously described as shocking, provocative, disgraceful and dishonourable.

It will never pass,” said Greece’s deputy social security minister, Dimitris Stratoulis. “If they don’t back down, the country won’t be lost … there are alternatives that would cost less than our signing a disgraceful and dishonourable agreement.”

Ultimately, I don’t believe that we are going to see an agreement.


Well, I tend to agree with this bit of analysis from Andrew Lilico

The Eurozone does not want to make any compromise with the current Greek government because (a) they don’t believe they need to because Greek threats to leave the euro are empty both because internal polling suggests Greeks don’t want to leave and because if they did leave that doesn’t really constitute any threat to the euro; (b) because they (particularly perhaps Angela Merkel) believe that under enough pressure the Greek government might collapse and be replaced by a more cooperative government, as has happened repeatedly before in the Eurozone crisis including in Italy and Greece itself; and (c) because any deal with Greece that is seen to involve or be presentable as any victory for the Greek government would threaten the political positions of governments in several Eurozone states including Spain, Portugal, Italy, Finland and perhaps even the Netherlands and Germany.

Furthermore, it’s not clear to me that the Eurozone creditors at this stage would have much interest in any deal based upon promises, regardless of how much the Greek had verbally surrendered.  Things have gone too far now for mere words to work.  They would need to see the Greeks deliver actions — tangible economic reforms and tangible, credible primary surplus targets and a sustainable change in the long-term political mood within Greece that meant other Eurozone states might eventually get their money back.  That is almost certainly not doable at all with the current Greek government.  The only deal possible would be with some replacement Greek government that had come in precisely on the basis that it did want to do a deal and did want to pay the creditors back.

On the Syriza side, I see no more appetite for a deal.  They believe that austerity has been ruinous for the lives of Greeks and that decades more austerity would mean decades more Greek economic misery.  From their point of view, default or even exit from the euro, even if economically painful in the short term, would be better than continuing with austerity now.

You can read the rest of his excellent article right here.

Without a deal, the value of the euro is going to absolutely plummet and bond yields over in Europe will go through the roof.  I am fully convinced that this is the beginning of the end for the eurozone as it is currently constituted, and that we stand on the verge of a great European financial crisis.

And of course the financial crisis that is coming won’t just be in Europe.  The global financial system is more interconnected than ever, and there are tens of trillions of dollars in derivatives that are tied to foreign exchange rates and 505 trillion dollars in derivatives that are tied to interest rates.  When this giant house of cards collapses, the central banks won’t be able to stop it.

In the end, could we eventually see the entire central banking system itself totally collapse?

That is what Phoenix Capital Research believes is about to happen…

Last year (2014) will likely go down in history as the “beginning of the end” for the current global Central Banking system.

What will follow will be a gradual unfolding of the next crisis and very likely the collapse of the Central Banking system as we know it.

However, this process will not be fast by any means.

Central Banks and the political elite will fight tooth and nail to maintain the status quo, even if this means breaking the law (freezing bank accounts or funds to stop withdrawals) or closing down the markets (the Dow was closed for four and a half months during World War 1).

There will be Crashes and sharp drops in asset prices (20%-30%) here and there. However, history has shown us that when a financial system goes down, the overall process takes take several years, if not longer.

We stand at the precipice of the greatest economic transition that any of us have ever seen.

Even though things may seem very “normal” to most people right now, the truth is that the global financial system is fundamentally flawed, and cracks in the system are starting to appear all over the place.

When this system does collapse, it will take most people entirely by surprise.

But it shouldn’t.

All con games eventually fall apart in the end, and we are about to learn that lesson the hard way.

  • “V”

    The end is near.

    • greyprepper

      Yup, SEPTEMBER is right around the corner!

    • bart77

      but we have obama our saviour remember. he hasn’t made it worse has he?

  • grumpyhillbilly

    No doubt elite’s reaction to any collapse will be frightening. Pity is that humble pie would be their just desserts. Too bad they have been cheating for so long that they’ll make all the wrong the decisions.

  • df NJ

    “Belgium” Buys $381 Billion In US Treasuries”

    As Russia continues to dump them.

    Zero Hedge reports:

    what Zero Hedge first observed, is the country that has quietly and quite rapidly become the third largest holder of US paper: Belgium. Or rather, “Belgium”[sic] because it is quite clear that it is not the country of Begium[sic] who is engaging in this unprecedented buying spree of US paper, but some account acting through Belgian custody.

    The grand total this mystery buyer has accumulated is $381 billion. To put that number in perspective, the total GDP of Belgium is around $500 billion.

    Since there are no people in the world with $380 billion at their disposal, it can be assumed this is most likely a state actor. It smells like our own Fed at work.

    For the uninitiated, if no one buys up US Treasuries, that leaves the Fed to pick up the slack. If the Fed doesn’t buy them, interest rates will rise. If interest rates rise even slightly, the US government will become insolvent because it will not be able to make the installment payments on the debt it owes

    • df NJ

      The thing is it really may take a two years before the whole thing collapses.

      • df NJ

        In a related $300 billion dollar story. “Pharma Execs Don’t Know Why Anyone Is Upset by a $94,500 Miracle Cure”

        “The company selling a costly breakthrough to millions of hepatitis C sufferers thinks price is the wrong thing to talk about”

        “More than 3 million Americans have hepatitis C”

        Let’s see, 3 million times $100,000 that’s $300 billion dollars just for one drug. But what the heck the people are going to die if they don’t get it. Good business. God Bless America!

      • greyprepper

        Yup, it could be a couple of years out still but one thing is certain…… it will be… in… (sounds trumpet).. SEPTEMBER!

    • Mike Smithy

      As I mentioned yesterday, Zero Hedge published an article last month and provided evidence that the mystery buyer of those US Treasuries was China utilizing Belgium brokerage houses.

    • Rukander

      “Since there are no people in the world with $380 billion at their disposal, it can be assumed this is most likely a state actor. It smells like our own Fed at work.”

      You are rigth, Belgian are not stupid.

  • T.

    The “End” draweth nigh.
    We have no more than two months before things start to “Break” badly.
    This will be quickly followed by an internal incident (ie. 911 style) for the needed “Martial Law” to Divert attention.
    Then September will bring U.S. the collapse of the $ – Shemitah – and
    Then the real suffering begins nationwide.

    • df NJ

      The conspiracy speculators think we will see a false flag nuclear attack sometime this summer. Of course it will be blamed on ISIS or whoever the new engineered American enemy is at the moment.

      • T.

        Whatever THEY want to pick for a false flag – THEY have Many to choose from.

    • greyprepper

      September AGAIN! You people make me want to break my computer.

      • T.

        Don’t do that. That would be Stupid – Like the Stupid false prophets.
        Ease up prepper. Go outside – get some sun (Son?). Take a walk. Get some fresh air.
        Don’t let this September (Shemitah) stuff get you down.

        • MIke

          Before I started hearing about the Shemitah stuff I read articles that economists stated the we could see hard times in September 2015. Not being prophetic, just being experts in economics.

          • T.

            I too. This Shemitah thing came along later and seemed to be one more indicator as to the “Timing” of the Collapse. TPTB have the wherewithal to bring Down Their Financial System at any “Time” They choose. They created it – They Control it – They can also Collapse it – when it suits them best.

    • greyprepper

      All of these SEPTEMBER prophets roaming around Snyders blogs and IW… it’s no wonder the masses don’t take this stuff seriously! Enough already! You have no idea when this collapse will intensify, or if it even will for that matter. The world was supposed to collapse every September for the past friggin 6 years. I’m so sick and tired of people sounding trumpets and screaming about September.
      September Prophets=Stupid

      • T.

        Ease up Bro. Why weary yourself? Just Prep. Pay No attention to these September stupid false prophets.
        The Masses do not read Snyder. I know. I’ve tried to get them to do so.
        Amazingly, the Masses continue to Snooze. And some Preppers like you suffer anxiety attacks from…..reading this site tooooo Much.
        There seems to be No level ground in AmeriKa.
        There is one EXTREME or the Other – The Masses are sound to sleep. That’s a FACT.
        God bless. Take an advil and get yourself some rest. I would hate for you to Crack – Before this all comes down.

  • watchmannonthewall

    Very interesting! Wouldn’t it be ironic if much of the world were to finally wake up to the fact that mankind is unable to govern itself and therefore we need a King, King Jesus, God Himself who created us, to rule and reign from Jerusalem and with him a group of people who have been changed, as the Apostle Paul stated in 1 Corinthians 15:50-58, who judge objectively and impartially according to the Word of God?
    There is a new day coming but unfortunately the horrors still have to come because so many of His people think mankind can be changed by a tweak here or there. The problem is in his “heart” and it goes to the center of each of us! He will not return until His people are saying, “Blessed is He who comes in the name of the LORD!” That occurrs when we have lost all hope regarding the “goodness” of mankind! There have always been those who want to rule others for their own gain. Soon that will end!

    • df NJ

      Hopefully the sheep will not wait for divine intervention to start solving their most difficult economic problems.

      • jsmith

        Yes I’m with you. I’m amazed at people on this site that believe a giant hand will come out of the clouds and “intervene” for us, and send lightning bolts on the central banks and open up the gold vaults of the Rothschild’s to distribute to us peasants. True that a great man showed us how to whip the moneychangers out of the temple, but that was 2000 years ago. I’m a Christian too, but please, let’s keep the religious rhetoric out of our present reality, and realize that we who post here are a minority of the population who at least are aware of what’s going on, but that won’t be enough to defeat the banksters. Yes, there will be a reset, and yes a lot of rich people and most of the middle class will take a hit in the form of currency devaluation, but somehow life will go on. The very rich are preparing, and I thank Michael for showing us how we should do as well!

        • T.

          You are Both wrong. As a Christian – jsmith you should know better.
          All this pain and suffering which is soon to engulf the earth is God’s judgment upon this wicked world.
          Go read for yourself again Mathew 24. The Lord Jesus says that if HE did not shorten those days (Judgment) for the elect’s sake – Then NO flesh would survive. That is how HORRIBLE this time is soon to be upon this earth. The forces of hell (Satan’s) will be the ones doing the killing and All of the killing of God’s people.

          • Guest


          • GSOB

            That verse refers to the coming destruction upon that generation to whom He was speaking to. It was fulfilled during the great tribulation period… when Titus destroyed Jerusalem.
            The intent meaning of the verse is that the carnage would have taken everyone totally out,
            if not for God purposes with His elect.

          • Guest

            You can be wrong about eschatology and still be a Christian. Many Christians don’t hold the view that you do. But they’re still Christians. I have studied eschatology for many years, and I believe your view is erroneous. And I’m in good company.

          • GSOB

            You can believe what you want.
            I can’t.
            You can study and still lack true knowledge.

            To think that Revelation meant nothing for 2000 years until our generation came is extremely arrogant and dismissive to the Christians who came before us, upon whose shoulders we stand.


          • Guest

            You’re free to believe whatever you want. I’ve been a diligent student of God’s word for the past 20 years. I believe in God’s sovereignty in creation, providence and salvation.

            I have never said or implied in any of my comments on this site that the Book of Revelation was irrelevant for the past 2,000 years and is only for the Church now. However, I believe that most of the book of Revelation is prophecy yet to be fulfilled. And your argument that Revelation was written before 70 A.D. is simply WRONG.

          • T.

            I do not reply to GSOB anymore. All he does is argue. He will not be deterred by biblical truth or any other truth – no matter what. He is like so many who take a “Position” like hyper Calvinism or whatever and will totally disregard any opposing truthful argument. Sadly, Christianity is full of them. This is another indication though of the End of the Church age.

          • Guest

            Well said.

          • CharlesH

            I’m also a Christian and I firmly believe that what we’re going through right now is nothing more than our “free will” run riot. Greed, hubris and arrogance is causing these financial problems.

          • T.

            CharlesH, I agree that greed, hubris and arrogance by the International Banking Cabal caused these financial problems – but not yours and my “free will.” We and Joe Public do not have the means to do that Charles. No. Those who have captured the world Financial System and enriched themselves with Trillions of $’s of income have exceedingly great power at their disposal, which was necessary in order to pull this off. This is something that cannot be denied Brother.

          • CharlesH

            Thanks T. I’m NOT talking about you and me or “Joe Six Pack” average citizen on the street. We’re talking about the same people doing these deeds that will bring down the entire world financial system. They’re ONLY concerned about today and how much they can make TODAY. So much like a drug addict – it’s always about now, today and I’ll worry about my fix tomorrow if/when tomorrow comes. It’s about TODAY and RIGHT NOW at all costs! They’re completely oblivious that every decision has a consequence. LIKE A DAMN DRUG ADDICT – therein lies the greed, hubris and arrogance. Eerily similar.

          • Max

            Right, and doesn’t a drug addict’s story end one or two ways?

          • CharlesH

            Not really. They get clean/recover – OR – they face jail, mental institution or death. Technically 4 ways – ONLY one way is the right way – get clean. However – the powers to be that we’re talking about in this discussion will never change – their greed is in their DNA – they’re basically liars and thieves only on a grand scale. They literally provide no benefits to society overall. None. They’re literally parasites – sucking the literal lifeblood out of society.

          • Max

            Agreed. Yet they hold the “cards”. Still, those cards are slipping through their fingers…Just pay attention to events globally

          • CharlesH

            You’re correct Max (thanks). Today’s financial systems are interwoven globally – no one, no country, no system will be spared when this whole thing goes off the tracks. I honestly feel that we’re all in for something so big, so unreal that we’ll be shaken to the very core of our being. Prepare the best you can to take care of yourself and your closest loved ones.

          • sderax456 .

            people have thought it was the “end times” many times. you could wait your whole life for jesus, just for him to come in anouther thousand years. remember, god helps those who help themselves.

          • watchmannonthewall

            god (little ‘g’) does help those who help themselves, but God (big ‘G’) does NOT help those who help themselves. All of Scripture is based on reliance on God and following His Word. “The sower went out to sow and the seed he sowed is the Word of God. If you don’t understand this parable, how will you understand any parable?”
            Unless you are really saying, “God helps those who help themselves by obeying His Word.” Then, I agree with you!

        • gaga

          There is no giant hand. It is all about spirituality.

    • Guest

      Amen. I’m looking forward to the time when righteousness will cover the Earth. 2 Peter 3:13

      • nobody

        So, never?

        • Mike

          Never for you.

          • nobody

            Fine with that, i don’t like fictional characters making fictional events anyway.

  • Tony Pepperoni

    The economy is collapsing. So, buy my book so you can be prepared. haha Fear is a multi billion dollar business.

  • Genada

    https://www.youtube.com/watch?v=Emdzsz_XvfA This pretty much sums up the world right now.

    The real reason for the war on cash is so people can not exit the system and to force them into the stock market.

    If the banks all offer negative rates then the only choice people will have is to either invest it and attempt to get a return, spend it now, or accept losing money.

    The calls are going to start rolling in that the problem with QE in Europe is that it’s not enough and demands for it to grow larger. In the end all bond markets are going to end up being nothing but central banks buying.

    The Greek drama is going to play out forever. They are not in default, they just bundled the payments and will maybe default later this month. At that point no one will declare it a default then it gets tied up for more months. This sad game has a lot of can kicking to go.

    • Malcolm Reynolds

      If the banks all offer negative rates then the only choice people will have is to either invest it and attempt to get a return, spend it now, or accept losing money.

      They could find a physical asset that stores it’s value too. Fine art, collectibles like cars and rare comics, PMs, diamonds, food storage, billionaires buying “survival retreats” in far away places, etc….

      I think the timeline to attain these things, before the prices start reflecting reality, is getting short at a brisk clip.

      • Gay Veteran

        this is bizarre, twice now this week I agree with Malcolm!
        did hell freeze over?

        • Malcolm Reynolds

          lol, re-play previous video. We live in interesting times.

  • Fractal

    I’ve been reading your site for a very long time and many here want the info on how to be financially prepared for what’s coming. I’ll give one answer as to how and I’ll give it for free. Basically it means putting a little money into the very same game that is supposedly “rigged” against the common man and is about to crash on top of the unsuspecting: the stock market. I know, I sound crazy, but hear me out: Protect your loved ones (and make a handsome profit while doing so) while everyone else is stuck on the Titanic scrambling to get off the boat by buying TVIX, TZA, and/or FAZ. Look them up, these are all leveraged inverse efts that are meant to go through the roof when markets turn sour, but do absolutely terrible when markets go up (easy definition: bull market=drops like a lead balloon; bear market=PAYDAY!) The bull market is over and the party is about to end, so get them NOW while they’re cheap then sell when they reach a number you’re happy with, and don’t believe the “only for a day!” naysayers. Watch them daily, then when you win enough and notice it start to drop, simply sell and walk away. Ever wonder how the über rich get the way they do? They buy huge amounts of these kinds of ETFs/ETNs for pennies on the dollar at the very last minute of a bubble like this one, then reap all the rewards for basically betting against you when markets go bad. If anyone does take my advice and it works, please give a small amount of your winnings to a charity of your choice. That’s all I’m asking in return for the info. Creator bless, and you’re welcome :)

    • watchmannonthewall

      The problem with this approach, as noted by a writer posted on Zero Hedge, is that when the next crash comes, those who are supposed to pay you off are themselves bankrupt. We used to use the term, “You can’t get blood out of a turnip.” They already have systems in place to shut the market down immediately. The big boys will be the ones who are paid first, if anyone is. David Wilkerson said the banks would close for 6 months (3/09). Is he right? I don’t know!
      Best idea is to pay off debt, buy tangible assets, including food, land, especially in a place where there are minor property taxes, and metals, and they (TPTB) might come up with a plan to keep metals from being used though first they will likely accept them for payment of taxes so they accumulate most of them.
      Scripture says the last kingdom will remain for a short period. God’s idea of short might be quite long to us, though Biblical timelines seem to point to the late 2040’s as the latest point for His return! It could, and hopefully, be earlier. Last, and really first, is to pray and see what God tells you. I’m not sure He is talking much about this though since it is a TEST, to see if one obeys ALL of His Word; the last test before He returns! We have had plenty of time to practice and prepare.
      Leave the doctrines of men behind. (Mark7:1-23)

      • df NJ

        Based on human experiment there seems to be no amount of evil God will not tolerate in order to preserve our free-will. It seems to me waiting for God to address our injustices may be the wrong approach. Although people are confident they absolutely know the mind of God I think we may need to take responsibility for our own misery.

        • Avner

          You get it…

          The misery is OUR creation, not God’s. It’s not God’s job to fix it. The greatest gift of the free will and intelligence we were given also goes along with the fact we were created in his image. Created in his image, we can create. So far, all we know how to do is screw it up for the most part then try to pass the buck to God or someone else.

          So, the people who pray and hope for miracles without taking responsibility and actions for it are showing how much they really want it fixed – they don’t.

          • df NJ

            Action takes courage.

      • toobusy

        Sorry gods very busy right now helping the duggars keep their million dollar gravy train a float.

        • Malcolm Reynolds

          Sorry God’s very busy right now helping Lena Dunham keep her million dollar gravy train afloat.

      • Mike Smithy

        Bingo. +100.

        When this thing implodes,those people who think that they have hedged their bets with counter-party worthless paper positions will be sorely disappointed. If you don’t believe me, just reflect upon the subprime mortgage crisis. Millions of people were paying for “Mortgage Insurance” because they had less than 20% equity. What happened to all of that premium money that was supposed to be a stopgap hedge? That’s right, it was never allocated properly because the banksters either skimmed it, stole it or rolled it back into risky mortgages thinking that the party would last forever. To add insult to injury, no banksters went to prison for perpetuating the fraud.

    • MichaelfromTheEconomicCollapse

      Thanks for sharing that Fractal.

      But I would say that once those inverse ETFs start to go up, they will do so very, very rapidly. If you wait for the “right moment” to get in, you may be too late.

  • Bob332

    From an old Doors song….” this IS the end, my friend”

    • df NJ

      It hurts to set you free
      But you’ll never follow me
      The end of laughter and soft lies

  • John Byde

    The ECB – the FIFA of global finance. Or is that the IMF?

    • df NJ

      Monarchy rules. We all work for the Rothschilds.

  • JailBanksters

    If all CB’s printed money like there’s no tomorrow, they could do this forever.
    The problem is not all CB’s want to print money forever, which undermines the whole process. Easily fixed, Invade, Takeover and Print

  • underaged

    Well I guess the game is up. The End. Go Warriors!

  • heretoday

    Greece has just rejected the latest bail out proposal…what else is new?

  • GSOB

    Live musical entertainment will be in higher demand
    As we encourage one another, our fellow man.
    What have we before us is a calling to His plan.
    The great I am, not uncle Sam.
    Oh that we would learn from this Fed reserve scam
    How its not the way to go
    Now lets watch its overthrow
    Its all a show to be displayed
    And for us to be dismayed.
    I hear than we’ve been breached again.

  • piccadillybabe

    We are in the throes of collapse right now. Look around, very few are employed gainfully if at all with businesses closing left and right. Those who do appear to be hanging on are doing so very cautiously. Saying my prayers a few times a day keeps me mindful of the situation we face and how we need to be thankful for our daily bread and what we have in this life, however humble it may be.

    • SunnyFlaSnotress

      A local RadioShack closed here.. Other than that, things still look status quo.

      • Da_Neutral_Observer

        Radio Shack is a national chain. These are the types of businesses most vulnerable to the crisis as they depend heavily on the big banks for capital. The big banks, in case you haven’t been following, are the ones with the most exposure to toxic derivatives to the tune of $40 trillion!

  • Albert8184

    The global finance system is NOT fundamentally flawed. It’s fundamentally CORRUPT. The central bankers aren’t losing control of anything. A ponzi man knows what the deal is going into the Ponzi scheme. He certainly isn’t “losing control” when the predetermined conclusion is reached. WE the citizens LOST CONTROL – past tense – 100 years ago. And since then, we’ve bought all the distractions and economic mumbo-jumbo these fraudsters have foisted upon us to cover the shell game.

    We are idiots. We are soon going to pay the price for our ignorance and failure to act like free citizens. The central bankers? They’ve got gold bars by the ton and a plane ticket to the South Seas. They’ve already moved on to the next superpower finance scheme decades ago.

    • df NJ

      The president could fix the problem by signing just one executive order. Lincoln showed us the way when he financed civil war. The problem is every president who has gone against the Federal Reserve has been killed in office.

      During the Civil War (1861-1865), President Lincoln needed money to finance the War from the North. The Bankers were going to charge him 24% to 36% interest. Lincoln was horrified and went away greatly distressed, for he was a man of principle and would not think of plunging his beloved country into a debt that the country would find impossible to pay back.

      Eventually President Lincoln was advised to get Congress to pass a law authorizing the printing of full legal tender Treasury notes to pay for the War effort. Lincoln recognized the great benefits of this issue. At one point he wrote:

      “(we) gave the people of this Republic the greatest blessing they have ever had – their own paper money to pay their own debts…”

      The Treasury notes were printed with green ink on the back, so the people called them “Greenbacks”.

      Lincoln printed 400 million dollars worth of Greenbacks (the exact amount being $449,338,902), money that he delegated to be created, a debt-free and interest-free money to finance the War. It served as legal tender for all debts, public and private. He printed it, paid it to the soldiers, to the U.S. Civil Service employees, and bought supplies for war.

      Shortly after that happened, The London Times printed the following: “If that mischievous financial policy, which had its origin in the North American Republic, should become indurated down to a fixture, then that Government will furnish its own money without cost. It will pay off debts and be without a debt. It will have all the money necessary to carry on its commerce. It will become prosperous beyond precedent in the history of the civilized governments of the world. The brains and the wealth of all coun­tries will go to North America. That govern­ment must be destroyed, or it will destroy every monarchy on the globe.

      The bankers obviously understood. The only thing, I repeat, the only thing that is a threat to their power is sovereign govern­ments printing interest-free and debt-free paper money. They know it would break the power of the international bankers. This is the way. Many will die before people accept this realization as truth.

      • Albert8184

        You know, I’ve seen that quote before. I think I’ll give it some research and see if I can come up with a facsimile of the original printing in the Times. Should still exist.

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