The Beginning Of The End Ad
Gold Buying Guide: Golden Eagle Coins

Recent Posts

The Preppers Blueprint Economic Collapse Blog Get Prepared Now Ad

Enter your email to subscribe to The Economic Collapse Blog:

Delivered by FeedBurner

The Sovereign Debt Crisis Is Never Going To End Until There Is A Major Global Financial Collapse

Share on FacebookTweet about this on TwitterPin on PinterestShare on Google+Share on LinkedInShare on StumbleUponEmail this to someone

In the past, there certainly have been governments that have gotten into trouble with debt, but what we are experiencing now is the first truly global sovereign debt crisis.  There has never been a time in recorded history when virtually all of the governments of the world were drowning in debt all at the same time.  This sovereign debt crisis is never going to end until there is a major global financial collapse.  There simply is no way to unwind the colossal web of debt that we have constructed in an orderly fashion.  Right now the EU and the IMF have been making “emergency loans” to nations such as Greece, Ireland and Portugal, but that is only going to buy those countries a few additional months.  Giving more loans to nations that are already drowning in red ink may “kick the can down the road” for a little while but it isn’t going to solve anything.  Meanwhile, dozens more nations all over the globe are rapidly approaching a day of reckoning.

All of the bailouts that you are hearing about right now are simply delaying the pain.  The reality is that when the “emergency loans” for Greece stop, Greece is going to default.  Greece is toast.  The game is over for them.  You can stick a fork in Greece because it is done.

One of the big problems for Greece is that since it is part of the euro it can’t independently print more money.  If Greece cannot raise enough euros internally Greece must turn to outside assistance.

Unfortunately, at this point Greece has accumulated such a mammoth debt that it cannot possibly sustain it.  By the end of the year, it is projected that the national debt of Greece will soar to approximately 166% of GDP.

The financial collapse of Greece is inevitable.  If they keep using the euro they will collapse.  If they quit using the euro they will collapse.  When the rest of Europe decides that it is tired of propping Greece up the game will be over.

At this point very few people are interested in lending Greece more money.

As I wrote about yesterday, many of the nations around the world are only able to keep going because they are able to borrow huge amounts of money at low interest rates.

Well, nobody wants to lend money to Greece at a low rate of interest anymore.

Today, the yield on 2 year Greek bonds is back over 28 percent.

Fortunately for the rest of the world, Greece is just a very, very small part of the global economy, but when interest rates start spiking like that on U.S. debt or Japanese debt the entire world financial system will be thrown into chaos.

So why is there so much of a focus on Greece right now?

Well, there is a real danger that the panic will start to spread.

The other day, Moody’s Investors Service slashed the credit rating on Portuguese government debt by four notches.

Portuguese debt is now considered to be “junk”.

But even more alarming is that Moody’s stated that what is going on in Greece played a role in reducing the credit rating of Portugal.

The following is a portion of what Moody’s had to say when they cut the credit rating of Portugal by four notches….

Although Portugal’s Ba2 rating indicates a much lower risk of
restructuring than Greece’s Caa1 rating, the EU’s evolving approach to providing official support is an important factor for Portugal because it implies a rising risk that private sector participation could become a precondition for additional rounds of official lending to Portugal in the future as well. This development is significant not only because it increases the economic risks facing current investors, but also because it may discourage new private sector lending going forward and reduce the likelihood that Portugal will soon be able to regain market access on sustainable terms.

Do you understand what is being said there?

Basically, Moody’s is saying that the terms of the Greek bailout make Portuguese debt less attractive because Portugal will likely be forced into a similar bailout at some point.

If the EU is not going to fully guarantee the debt of the member nations, then that debt becomes less attractive to investors.

The downgrade of Portugal is having all kinds of consequences.  The cost of insuring Portuguese government debt set a new record high on Wednesday, and yields on Portuguese bonds have gone haywire.

If you want to get an idea of just how badly Portuguese bonds have been crashing, just check out this chart.

But it is not just Portugal that is having problems.

Just recently, Moody’s warned that it may downgrade Italy’s Aa2 debt rating at some point within the next few months.

Spain is also on the verge of major problems and Ireland may need another bailout soon.

Things don’t look good.

Unfortunately, if the dominoes start to fall the entire EU is going to go down.

Big banks all over Europe are highly exposed to sovereign debt and they are leveraged to the hilt.

It is almost as if we are looking at a replay of 2008 in many ways.

When Lehman Brothers finally collapsed, it was leveraged 31 to 1.

Today, major German banks are leveraged 32 to 1, and major German banks are currently holding a tremendous amount of Greek debt.

Anyone with half a brain can see that this is going to end badly.

So how is the European Central Bank responding to this crisis?

They are raising interest rates once again.

That certainly is not going to help the PIIGS much.

But Europe is not the only one facing a horrific debt crunch.

In Japan, the national debt is now up to about 226 percent of GDP.  So far the Japanese government has been able to handle a debt load this massive because the citizens of Japan have been willing to lend the government gigantic mountains of money at interest rates so low that they are hard to believe.

When that paradigm changes, and it will, Japan is going to be in a massive amount of trouble.  In fact, an article in Forbes has warned that even a very modest increase in interest rates would cause interest payments on Japanese government debt to exceed total government revenue by the year 2019.

Of course the biggest pile of debt sitting out there is the national debt of the United States.  The U.S. is so enslaved to debt that there is literally no way out under the current system.  To say that America is in big trouble would be a massive understatement.

In fact, the whole world is headed for trouble.

Right now government debt around the globe continues to soar at an exponential pace.  At some point a wall is going to be hit.

The Wall Street Journal recently quoted Professor Carmen Reinhart as saying the following about what we are facing….

“These processes are not linear,” warns Prof. Reinhart. “You can increase debt for a while and nothing happens. Then you hit the wall, and—bang!—what seem to be minor shocks that the markets would shrug off in other circumstances suddenly become big.”

That is the nature of debt bubbles – they keep expanding and expanding until the day that they inevitably burst.

Governments around the world will issue somewhere in the neighborhood of 5 trillion dollars more debt this year alone.  Debt to GDP ratios all over the globe continue to rise at a frightening pace.

Because the world is so interconnected today, the collapse of even one nation will devastate banks all over the planet.  If even one domino is toppled there is no telling where things may end.

The combination of huge amounts of debt and huge amounts of leverage is incredibly toxic, and that is what we have all over the globe today.  Almost every major nation is drowning in a sea of red ink and almost all of our major financial institutions are leveraged to the hilt.

There is only one way that the sovereign debt crisis can end.

Very, very badly.

I hope you are ready for what is coming.

  • Mad Max

    Oh, it’s going to end. The question is, how badly?

    OsiXs (Revolution 2.0 – The Smart Revolution)

  • Security

    Things could go on the same way for a long time. A few months ago I suggested to a friend that the treasury bonds the fed is holding could be sent back to the treasury to be cancelled. He asked how would the fed withdraw liquidity? I said they don’t need to withdraw liquidity so long as the treasury is issuing more new debt every year. The treasuries new issuances would have the same effect as the fed withdrawing the liquidity by selling the treasury debt it is now holding.

    • Rhinehart Fox

      I can’t agree that this will go on for a long time. At some point in the near future, it will all literally “hit the fan”. One of the PIIGS will fail. Then another will become insolvent. The major news outlets will begin to publish the fact that there is not enough money to cover the needed bailouts like it is a new revelation. The rioting in the streets will resemble Cairo more than Athens. Here in America, think of the recebt ‘flash mob’ violence a la the Rodney King riots in 10 or 20 US cities when the support checks either stop coming or the money doesn’t buy anything. Meanwhile, the banks will all be on holiday and the ATM’s will have run dry in the first few hours of the crisis. Are we getting the picture yet?

      It is going to be ugly. You better get ready!

      • Steve

        And if you live in the West or Southwest learn some Spanglish.

    • 007

      True, it seems the Federal Reserve can print the money to buy the debt and repeat. It seems destined to fail. Moreover, no economy has ever been able to pull off such a debasement of fiat currency and survive. Unfortunately, our Fed is arrogant enough to think they can get away with it. I wonder how long it can get away with it. The sad part is we all better hope they can get away with it as long as possible!

  • Ben Dover

    All of these problems are predicated upon continuing debt. The nations (people) who refuse to continue incurring debts will come out on top.

  • McKinley Morganfield

    Its all tenuously hanging together on a very thin thread. And, it is largely a matter of psychology. One day a single tulip bulb is worth the value of the average home, the next day its worth a few cents.

    The contraction must happen, the sooner it happens the less severe the pain. (BTW, a very good article.)

    • 007

      The horror of this contraction is no one will know what a few cents are worth.

  • Ghulam

    Does this mean that we will see a surge of PhD dissertations on Ezra Pound?

    With usura hath no man a house of good
    each block cut smooth and well fitting
    that delight might cover their face…

  • HRR

    What (specifically) do we need to do to be ready?

    • Michael


      Here are a few basic tips to get you started….


    • moses737

      In order to survive this coming catastrophy; you will need to know God and Jesus Christ. And you will be blessed as you accept Christ and read your holy bible.

  • 007

    And the amazing part is the IMF and central banks are being blackmailed into lending Greece (hopelessly bankrupt) more and more money. They are afraid what will happen if Greece defaults. What a sight, a bunch of broke countries and banks lending money they don’t have to a financial black hole like Greece.

    Greece is catching on. No austerity, no taxes, spending on whatever it likes. Greece can just give the bronx cheer to the other European countries and place an order for room service from Germany for more goodies. Just rub it in thei face. There is nothing Germany or France can do about it. If they don’t keep funding Greece it will take down the European Union.

  • Colin

    The Automatic Earth editors wrote an article on the global financial collapse. Here is the article:

    About Greece – the legality of the 2010 bailout is being decided in a German high court. Here is the article on this case:,1518,772443,00.html

    • Steve

      A clever essay one the first link on the “black hole of Debt” that will in the end devour everthing. Thanks. For a more traditional macroeconomic analysis of how the debts were created, an economic history of similar credit bubbles, and how bad things really are, check out the Conservative Richard Duncan’s book “The Corruption of Capitalism”. He predicted the 2008 Depression years before the collapse and is of the opinion so many trillions of private wealth was wiped out in 2008 that without major government deficits and spending the whole USA and world economy collapses. Very disheartening for conservatives. It’s a very important book, along with his website.

    • 007

      About the legality, the German high court should shut up and just pay the bills. Germany co-signed for Greece. All they can do is pay the bills as Greece continues to party and spend.

  • KTMrider


    Your suggestions are interesting, but
    1) What happens when worldwide confidence in the dollar is lost due to Fed debasement and it loses it reserve status? Note this is already happening (other countries are dealing more and more in local currncies)
    2) You assume there will be buyers of new issuance. Auctions are already challenged and the Fed is buying what isn’t sold.

  • bobbobbobbob

    my friend went to get his colon checked he has very good ins. (unlike most of u) but unfortunately the anestesologist was not in the plan he had to come up with $1200. lucky for him he had it. with 20% of the us pop on medicaid the question is when will the us explode. the greeks have food and med care u dont. all industrialized have but then again u do not make things u make believe

  • The Jig’s Up

    The Fed has many many “tricks” in their bag. They can keep “this thing” going for a long long time.

    Just enjoy your commercial sports, porn, prozac, viagra, Wal-Mart etc.

    Don’t try to think–just take the Soma and drink your beer and enjoy your Al Bundy life!!!

    Watch pro football, eat at McDonald’s and Ryan’s Steak House and think the conventional programmed thoughts!

    Hell Air Conditioned with Pain Meds!

    • moses737

      But they won’t The Jigs Up!! The International Bankers/Illuminati kingpins have to crash the system as soon as they can. That way; they can have their evil kingdom now and not later.

  • Ken W

    at some point there won’t be any buyers for our treasuries or the debt service will crush us. My ? is what comes after the collapse?

  • ScoutMotto

    When the other nations announce they are tired of propping up Greece, it will prove that socialism is a failure since they would rather Greece pull their own weight. It’s like taking points from all the A students to prop up the F student. Sooner or later, the ones not failing take umbrage at saving the ones not doing well.

    Granted this would all be solved if they got rid of their central banks, but they may have to collapse first.

    • 007

      Greece doesn’t have to do anything but order room service. They Can spend whatever they want. Who is going to stop them? Germany? They have to keep paying their bar tab or Germany will get in a financial trouble. Kind of like co-signing for a drug addict. In the end they will both be destroyed. Only difference, Germany will have to clean up their mess until then.

  • Its going to end FAST

    My dear children,
    I have been around a lot longer then most of you visiting this web site.
    Living in my own Home and in my late 60’s, retired, with a small pension, and little monthly SS.
    Home paid off, worked two jobs all my life, and what I have coming in after all my years of hard labor barely a little left over after I pay for property taxes, energy, basic cable/internet and food for the pantry.

    But I am still thanking God every day I have left on earth.
    Yes I am in good health.

    Why am i telling you precious little ones all this you may ask?
    It is because never in my life have I seen our economy as bad as this and deteriorating so rapidly. Going from bad to worse.

    I am not typing this to scare you my children.
    But our great country is going to end very quickly.

    No, dear ones, not with a nuclear bomb like we were taught in my younger days, but with an economic system collapse so severe that those of you who make it through alive, might have a chance to start a new, better, world.

    Nothing that you have come to know will be recognizable after this great economic crash that I and many, many others know is coming.

    I have warned my grand children to prepare, take for the highland with supplies, but I have been met with resistance, they think this old man has lost his bonkers. Oh how i wish that were true.

    I do not want to see my grand children thrown out onto the streets begging like millions of others will be doing in the very near future.

    Please if you have loved ones bring them close to you while you can and warn them to prepare. Put away canned goods in a cool dry place. Stock up on bottled water, Batteries oh yes batteries, candles, and flashlights, keep some gold pieces on hand if you can. get locks and other security for your homes, guns, ammunition, land surveillance cameras.

    But it is best If you have an opportunity either through work or savings to get you and your family out of this country and get to safer places like:
    New Zealand, Canada or Australia.
    They won’t be totally insulated from what is about to happen to the world but by comparison they will be like paradise.
    They may be survivable places to start your families over again.

    I’m too old now to fight for myself but you younger ones have a chance, don’t miss the boat.

    You may not ever get the chance after the collapse.

    God bless and keep all you younger ones safe.

    • Steve

      An excellent, moving post. I too am in my late 60’s and have an intuition of a huge storm on the horizen. Richard Duncan’s book “The Corruption of Capitalism” painted a clear picture for me how we got into this terrible economic mess and how it’s most unlikely it ends well. Give “The Corruption of Capitalism” to any of the younger generation who want an indepth understanding of what’s unfolding and why.
      It’s a very important book, along with his website.

    • Also, I think a security alarm system is a good idea. I just got a great deal on craigslist for $100 that’s worth $300 with wireless sensors. Burglars don’t like alarms going off, it disorients them. Plus, they don’t know if the system dials in to the security system that calls the police which some do for a monthly fee.

  • To understand a collaspe-how it will effect the man in the street, and for how long- is what people are asking. We understand riots, violent crime potentials, and the need to “prep” however we need to contemplate and research from other countries and times just what goes on in the political rejuvination of a new direction.

    My opersonal view is that when we collaspe there will be a military takeover to establish stability. However, power is a corruption and this will lead the people into some sort of extream direction while they deal with poverty. The neo-faschist government-corporation-bank system we have today will be eliminated for a period of time; then it will return.

    Stock up on foods, firearm defenseive measures, and being able to relocate to a safe haven. This will provide some respite during violent times.

    God Bless,

    Old Timer at:

  • VyseLegendaire

    The Great Ponzi does not respect the laws of supply and demand.

  • patriot Alice

    If Greece defaults, the Europeans will learn a very painful lesson, and are not likely to followup with the same effort to bailout the other PIIS, for lack of confidence….The domino could fall a lot quicker than most people realize….Overnight collapse is possible….

  • kik

    we need a cleansing

  • mark

    The problem is that the holders of the debt will want their pound of flesh no matter what new system we change to. With the banks in bed with governments together they hold most of the control of power. If there was a world wide uprising against this banking/government cartel it might not end well. It would be nice if the outcome was what our founders designed, but alas it takes watchful imformed voters to keep it. Our track record is not very good to date. The cartel is always making small changes to gain more power. They do this with supreme court cases expanding government, having agencys such as the EPA dictate regulations etc.They take money for those that work for it and give it to those that sit on their rear all day. So you get more and more just sitting on their rear. Who knows when this debt problem will crash. If you are wise, you will use this time to prepare to help yourselves, your family and your neighbors. The more people that are preparedthe better the outcome might be. For if you are prepared, you can say no to the cartel.

    • 007

      “The holders of the debt will want their pound of flesh”.

      So true, that is why this is going to be so horrible. Even worse, we are all the debtors, whether you want to admit it or not. We all owe a fortune and no one is going to forgive this debt.

      • moses737

        Yes 007!! The International Bankers/Illuminati/Freemasons are in total control. As they want your heart, body and soul. Give your life to Jesus and you will be Gods instead of theirs. And do not take their coming mark of the beast chip in your forehead or hand when they impliment it soon.

  • Mike M

    If it became known that the Fed was allowing the Treasury to default on bonds it owns the entire premise that supports our bonds would be destroyed, confidence. It’s bad enough that the Fed can buy our bonds with unlimited amounts of imaginary money but if the Treasury never had to honor those bonds then everyone would know the game was over.

  • Gary2

    And to think-all we in the usa need to do to avoid all this is to tax the rich and spread the wealth more evenly. Consumers then have money to spend and the economy recovers.

    It really is this simple folks.

    • Tim

      It is NOT that simple. I don’t think you understand the magnitude of the U.S. government’s debt, annual budget deficits and future liabilities for social insurance programs. These debts are simply unpayable.

      • Gary2

        Yes it really is that simple. I predict that the rich will be taxed hard by Obama and he has my full support in making the rich scum pay and I mean PAY!

        • Dianne

          Gary2: The Rich will NOT be taxed hard. The Rich never pay. They know how to hide their money. It is the Middle Class who will be required to pay and it is the Middle Class who is destined to be destroyed. May God have mercy on us all!

    • Michael V

      Its interesting Michael that you constantly want to steal from others. Stop looking for others to take care of you. Find ways to earn an income and be a man about it. I lost my job in finance and took a job as a security guard in order to pay my bills. My wife cannot work due to health concerns and we have two sets of twins. We are making it, but barely. Im sick and tired of people like Michael who want continuous handouts. Be a man and stop looking for everyone to take care of you. No one owes you or me a darn thing. Get over your pity party and suck it up for once in your life. Stop your damn something about your situation. The rest of us either has or is trying to. It all seems that you can do is complain that someone else has something you dont. Be a man for once and stand up on your two legs.

      • Gary2

        its not stealing to take what is yours. The rich have stolen the productivity increases from the workers for decades. I am simply advocating taking back from the rich that which they have been stealing from workers.

        I suppose you think it is OK for ceo’s to be paid 5000 times more than their lowest paid worker.

        Turn off rush. Why should you be happy just barley making it when if the productivity increases went to the workers the average wage would be 92,000. Google it. You are a fool to think the way you do if it can be called thinking. Sounds more like parroting faux news.

      • Stephan Larose

        Seems like Michael needs a history lesson. History is nothing more than the rich exploiting the poor. The more money they get, the more they can influence laws and politics to their favor. There are no exceptions to this rule.

        All you are proposing is to fall right into the rich man’s ploy to divide and conquer the poor and middle class. The rich stand together to influence policy and law to their favor, if the poor and middle class aren’t complete fools, they would use their far greater numbers to achieve social and economic justice–which you conflate with theft. What you don’t seem to understand is that countries that are more egalitarian have less debt, less crime, are healthier, more moral and more educated, just look at all the scandinavian countries.

        History shows that the larger the divide is between rich and poor, the less democracy there is in that country. That’s especially true of the United States which was much less economically unequal in the 50
        s and 60’s and overall in much better shape. Nowadays you have an unprecedented divide between rich and poor and a democracy that responds to powerful lobbyists only, to the exclusion of pretty much everyone else.

        You should brush up on your economics and history before you go regurgitating whatever garbage FOX “news” broadcasts.

    • Michael V

      I meant this for Gray2. My mistake.

      • Gary2

        You honor our dear moderator by attributing my wisdom to him.

        Michael you owe me one!

    • Prepping for the Future

      What if you do what brain dead Gary says and tax the rich. Watch the video it explains why Gary and the rest of the fools that believe these lies it will never solve the problem cause Odumbo is bankrupting America.

      • Gary2

        This week’s credit check: Corporate profits have taken in 88% of the raise in national income since the recovery began, while household incomes only took in 1%.

        We also need to tax the shit out of these corporations.

      • Stephan Larose

        The country was bankrupt way before Obama got in office, but sure, give more welfare to the rich, I’m sure that before they move their assets and production offshore they’ll give you a nice pat on the head.

    • Otown Right Guy

      Please go watch Bill Maher or Michael Moore. Isn’t there a communist workers party meeting you should be attending?

      • Gary2

        those two saints are the ONLY smart folks on the issues who really tell it like it is.

        • Louise in MO

          Gary 2

          The two “saints” you listed are rich as hell! Perhaps they could “lead the way.” However, Michael Moore should take a bath and get a haircut first!

      • Gary2

        Bill Maher’s poop is smarter than any republican conservative.

    • 007

      Gary much as I sympathize with your situation, you can tax the rich all you want. Take all their wealth and let the government distribute it. I suspect you will never see a dime of it. It will only go to their political buddies ( ie the rich you hate so much). The national debt vs. The wealth of the rich is a bee bee gun fired at a freight train. Take a minute and do the math. 14 trillion on the books. 60 trillion off the books at least. Who do you think has that much wealth you can tax. I imagine you will not answer this.

      • Tim

        Spot on.

      • Intelligent

        Thanks 007! Unfortunately those like Gary (which is about 90% of the nation) don’t seem to have a clue and believe all the bs that the media shoves down our throats. Anyone with 4th grade math skills could see the writing on the wall if they chose to…..instead the majority of garys out there are too complacent, like a teenage boy that thinks they are indestructible. It will be unfortunate when Gary the teenager is pushed from the roof by our economic collapse, breaks both legs then expects those that prepared to fix him. Do a little research Gary and maybe you won’t get up on the roof.

      • Gary2

        At the very least it will be a huge symbolic victory for any shared sacrifice.

        Do you really think people will sit back and watch the rich live in 5 homes while their medicare/ssi is cut? While ceo make millions while paying their workers poverty wages (see walmart)?

        I would think it is in the rich best interest to pay more, or I am afraid they will pay more the hard way.

      • Gary2

        Rep. Paul Ryan (R-WI), a leading advocate of shrinking entitlement spending and the architect of the plan to privatize Medicare, spent Wednesday evening sipping $350 wine with two like-minded conservative economists at the swanky Capitol Hill eatery Bistro Bis.

        This is your republican party. Bring on the revolution. F the shared sacrifice.

  • Alasha

    This is a very complex and difficult to absorb. I appreciate you asking if this is understood. I really wish you would do video blogs. I guess I have been to dumbed down. smile and God Bless.

    • Kate

      Alasha –

      The best way to understand what is happening is this:

      What would happen if you lost your job and paid for everything on credit cards? For awhile this would work but eventually your credit card bills would come due and you wouldn’t be able to pay them. You would be forced into bankrupcy.

      This is the same thing many, many other countries have done – including the USA. The US and others are not taking in enough money so they are using sovereign debt (a REALLY big credit card) to pay for expenses. This worked for a long time because everytime the credit card came due the US would just take out another credit card. But now… there are no more banks to lend to us because the rest of the world is broke too. So the so-called house of cards is finally coming down on us. That is the best way I can explain it. There are a lot of videos that explain this as well – go check out YouTube and search 2009 financial collapse.

      When I understood this myself it was absolutely devestating. But it will be worth your time and tears to do your research and get prepared for you and your family’s sake. God bless you too.

      • Stephan Larose

        Kate, you don’t have the whole picture there. The part you’re leaving out is that the “credit cards” all these countries are using are issuing counterfeit money. Legal counterfeit, yes, but counterfeit all the same. The “debts” incurred represent nothing more than money (or simple electronic credits) that was printed out of thin air by “national” banks with no assets to back them. They are therefore, quite illegitimate. When private banks lend cash, they do so using fractional reserve lending, which also means creating money out of nothing. If you or I did that, it would be counterfeiting.

        All countries should default on these illegitimate debts, they are backed by nothing and all our productive potential would remain completely intact if we defaulted, not a single resource or skill would disappear. There’s no need to fear the bankers, they control nothing but the consent we give them to completely screw us all. Deny them that and we can purchase our freedom.

        • Ultimate Cynic

          Stephan Larose,

          I completely agree that the unpayable national debts to the central bankers are illegitimate and should be repudiated. But the only politician who has even so much as sent up a flare to read the wind on this issue is Ron Paul, and not even his supporters can agree that repudiation/default is the answer. Read the Daily Paul forums and you’ll see.

          Even if Ron Paul could run on the issue of the illegitimacy of the debt, he would never be allowed to win, or if he did, he would be dead soon after taking the first action. The globalist bankster elite do not allow rebellious politicians to live, here or anywhere else.

          I’d better stop even daydreaming about it. There is no way the masses of people will get on the same page about this.

          We know how a road out of this mess could be constructed, but it never will be.

  • Idealist

    Great article!

  • Mr Carpenter

    How could all of this happen? It happened because humanity is both sinful and stupid.

    Look. Had governments (such as the United States) stuck to their original Constitutional “guns” and relied upon silver and gold AS real money – and also stuck to the LEGAL limits of the same Constitution on a federal basis, then the US could never have had a Civil War. We’d be divided into two nations – the USA and CSA. By the 1880’s, slavery would have been abolished in the south, because technology would have come along to do work better and cheaper than slaves. (Steam engines, etc).

    Think about it – we also never would have gone into WWI because had we stuck to our knitting and not sereptitiously supplied BOTH sides of the war, the German U-boats would not have had any reason to take out our civilian ship which caused us to join that war.

    Not to put too fine a point on it, but had the US not entered WWI, then the German side probably would have won (let’s face it – it was a stalemate and Germany would have eventually wore down the French and caused the Brits to call for a cease fire).

    Had WWI ended with a cease fire or German victory, then the hyperinflation of the Weimar Republic would never have taken place, due to war reparations insisted upon by the French, mostly.

    No Weimar hyperinflation would have meant no Adolph Hitler.

    Not to mention, the US sticking to our own business would have meant that the Japanese would not have felt so hard done by and may not have attacked Hawaii.

    Not to mention, the US sticking to our own business would have also meant that our monied people would not have seen the “example” of their own government butting into other peoples and nations business – and the known fact that rich monied people supported the communists who took over Russia, wouldn’t have happened – no communist “experiment” for a Soviet Union would have meant to Chinese, Vietnamese, Cuban, etc. Why, you ask, would I say that a few wealthy people quietly supplied money to the communists in Russia? Simple – a capitalist Russia would have been a formidable economic foe to the US, of course! Communist control essentially wrecked Russia and all it touched – and the rich couldn’t care less that their little “intervention” eventually cost 70 million dead in Russia and nations the communists controlled, God only knows how many dead in WWII and the (not so) Cold War, hundreds of millions dead at the hands of the communists in Asia (mostly Red China but also Vietnam, North Korea, etc.)

    So it is more than just economics. It boils down to a true definition of honesty and integrity.

    Do we believe in the Constitution? If so, we should only elect people who actually read, understand, believe and follow it. That pretty well means only the Constitution Party and also the Libertarian Party.

    Do we believe in honesty? Then we should be using what is called real money in the Constitution – something which can’t be manipulated as easily as paper money (fiat money) and that’s real silver and gold coin.

    Can we have any remote sense of self-control instead of a sense of entitlement to “have” an all powerful government take from others (by force – it’d be called STEALING if it were done in person by the THIEF)? This kind of self control includes actually waiting to earn money in order to buy things – even including a house.

    The answers to these questions are self evident by looking around oneself and this largely explains how we got OURSELVES into this situation.

    • Steve

      An excellent post…see Richard Duncan’s “The Corruption of Capitalism” for the details of how fiat money has lead to bubble after bubble…with the current credit “unwind” is on an unprecedented scale…overall an excellent book from a conservative economist.
      BTW, Hitler was appointed Chancellor of Germany in 1933 as the Great Depression was so destabilizing there was fear of a Stalin backed communist coup….the Wiemer Republic hyperinflation was in the 1922-23 period. (The Coming of the Third Reich” by Richard Evans).

    • Ghulam

      Great post, really spot on Mr. Carpenter.

      Your analysis takes us through the Second World War. After that American women joined the work force, tripling the use of raw materials, especially oil. Twice as many people were moving from here to there every day, and whole new industries had to be sustained to do the traditional tasks once done at home. Americans blew through a couple of centuries worth of oil under their own soil in fifty years, and they were then forced to build more weapons than everyone else in the world combined, so that they could take what they needed to supply this mad machine for a few more years. Feeding the masses was turned over to industry with the expected results. Capitalism and Communism are the mad twins of secular materialism; both tell the masses that the people are really in charge, and that though the individual citizen is a moron, their collective wisdom is greater than that of all the religious teachings that have previously guided mankind.

  • RichyB

    You have obviously not looked at the Foreign Currency Reserve status of the PIIGS; all of them have a very high proportion of Gold, hence a low proportion of FIAT paper. GS and the other fraudsters have set up these countries to default and will steal their Gold for a pittance. This has to be done, otherwise when GS pulls the plug on the US$, the Euro will also collapse, and the money issued by the PIIGS will be far strnger than any other currencies in the world. See for details. GS must take this Gold before the US$ collapses. PS – does the USA have the Gold they claim?

  • Mr Carpenter

    And oh yes, the rest of the civilized world “followed the footsteps” of America, did they not? Which also explains a lot (economically speaking, and otherwise).

    So much for a shining beacon on a hill, eh?

  • Mark Mueller

    ” there is no avoiding the crises that is the result of a boom caused by credit expansion. It is only whether you suffer the crises sooner by avoiding further credit expansion, or you suffer the final catastrophe that usually destroys the currency system involved.” Ludwig Von Mises. The man that predicted the great depression. Written in 1949. When you destroy the currency system, you destroy the government.

  • liberranter

    Fiat currency is the root of all evil – and the root cause of the current debt crisis.

    • Steve

      Correct. Check out the Conservative Richard Duncan’s book “The Corruption of Capitalism” for a macroeconomic analysis of how really terrible the world and USA economies really are. In spite of all the corruption and insane deregulation, Duncan puts his finger on the overturning of Bretton Woods as the beginning of the end. He predicted the 2008 Depression years before the collapse and is of the opinion so many trillions of private wealth was wiped out in 2008 that without major government deficits and spending the whole economy collapses. Very disheartening for conservatives. It’s a very important book, along with his website.

    • Stephan Larose

      Fiat currency IS NOT the root of all evil. Would you rather walk around with metal coins or objects to barter? That’s idiotic.

      Fiat money is fine, it’s the way that it is issued that presents a major problem. Our current monetary system is debt based. Private banks like the Fed print the money out of thin air, backed by nothing and demand we create real value to pay it back, same with all other “national” banks, they loan from private banks that simply use fractional reserve lending to create money out of thin air to lend to nations. All these debts are backed by nothing and created out of thin air. If all debts are defaulted on or forgiven, the world will lose no resources or skills and can go on fully as normal.

      If we used a constitutional, debt-free monetary system, money would be printed by governments and spent into the economy, not loaned as debt. There would be no national debts, and therefore no need for income tax. How many resources would be freed if there were no national debts or income tax?

      The problem is not fiat money, the biggest danger with fiat cash is inflation, easily controlled if you simply cap money supply growth to population growth. The problem are the banking cartels that have monopolized the power to print money and enslave all the world’s nations in debt. We need to kill the Fed and reform the monetary system to restore human freedom and productive potential.

  • It seems like the worlds economy is feeling the domino effect. Our economy went down then others started to follow. Thats what happens when we are all doing business together.

  • Nostradamus

    “There has never been a time in recorded history when virtually all of the governments of the world were drowning in debt all at the same time.”

    BS. Let me name countries who are NOT drowning in sovereign debt:

    – The entire SE Asia region including China, but excluding N Korea
    – Japan, with debt of nearly 200% of GDP, nevertheless hold only 5% foreign debt.
    – Indonesia, Australia, New Zealand
    – The entire India subcontinent
    – The entire Arab oil states
    – Most of African countries (poor yes, but not drowning in debt)
    – Russia and most EU countries combined GPD = 1.5 times of USA
    – Israel, Jordan, Capstan Sea states
    – Canada, Mexico and S America

    You know what’s the trouble with the American psyche – they think what goes with America automatically goes with the world. With 20% of world GDP, 5% of world population, and a mere 2.5 centuries in nationhood, that’s pretty arrogant.

    • Steve

      Please check out the Conservative Richard Duncan’s book “The Corruption of Capitalism” for a detailed macroeconomic analysis of how really terrible the world and USA economies really are. Those economies that are not now coming unraveled due to a credit bubble rely on exports to the USA and the West. When they go down, everyone goes down. Richard Duncan also has an website with some interesting material.


    TO THE BELIEVERS OUT THERE THAT ARE SHEEP!!!Therefore, I tell you, don’t be anxious for your life: what you will eat, or what you will drink; nor yet for your body, what you will wear. Isn’t life more than food, and the body more than clothing? See the birds of the sky, that they don’t sow, neither do they reap, nor gather into barns. Your heavenly Father feeds them. Aren’t you of much more value than they?
    “Which of you, by being anxious, can add one moment to his lifespan? Why are you anxious about clothing? Consider the lilies of the field, how they grow. They don’t toil, neither do they spin, yet I tell you that even Solomon in all his glory was not dressed like one of these. But if God so clothes the grass of the field, which today exists, and tomorrow is thrown into the oven, won’t he much more clothe you, you of little faith?
    “Therefore don’t be anxious, saying, ‘What will we eat?’, ‘What will we drink?’ or, ‘With what will we be clothed?’ For the Gentiles seek after all these things, for your heavenly Father knows that you need all these things. But seek first God’s Kingdom, and his righteousness; and all these things will be given to you as well. Therefore don’t be anxious for tomorrow, for tomorrow will be anxious for itself. Each day’s own evil is sufficient. BUT TO THE GOATS ITS A DIFFERENT STORY!!!!Then shall he say also unto them on the GOATS!! Depart from me, ye cursed, into everlasting fire, prepared for the devil and his angels:




    If my people, which are called by my name, shall humble themselves, and pray, and seek my face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sin, and will heal their land.FIGURE IT OUT REPENT !!!

  • Andrew Bulles

    I’m trying my best to purchase a little support for the economy… Just paid my California car registration of $527.00 for my 1997 Jaguar. And I put new tires on the Jag and did an Alignment… $489.00. I paid for my daughter’s guitar lesson for summer… $130.00 and my son’s drum lessons – $150.00 and then this week I dipped into savings to fix the fuel pump on my 1992 735I BMW. THAT’S ALL I CAN DO FOLKS! I’m BROKE UNTIL AUGUST 30th! Frankly, I’m now broke, busted and digusted… $527.00 to keep my car registered… WHAT A CROCK!

    • 007

      Hmmm, car registration. Did you ever ask why it even needs to be registered, in the first place. Just another tax scam we all live with. California does take this absurd tax to new highest. History may one day marvel at how we taxed ourselves into utter destruction. Just like the Roman Empire. I do feel for you.

    • Stephan Larose

      527$ is nothing my friend. You need to pay around US$ 10,000 just to get a license plate in China, where I’ve lived for 9 years.

      The reason there is so much debt is because we have a debt-based monetary system where private banks print money out of thin air to loan to “national banks.” Printing money is not a complicated job, a government can do it as easily as a private bank, except it won’t be a debt or at interest. Debt free money would eliminate all national debts in short order, and if there is no national debt, there is no need for income tax. How much money would that save you? ********* the Fed.

  • Falconsword

    It really is a Greek tragedy. The world economy is like a neighborhood of old spinsters. They’re all broke, and they know it. But if anyone of them gets foreclosed, they’re afraid they will all loose their houses. So they all agree to borrow money to loan each other, each in turn making another loan after another loan. The problem is, eventually no one will extend them credit, and the whole neighborhood goes down. It is only a matter of time.

  • JasonD

    It seems like everbody is in debt when you read these articles on the blogosphere.

    What I always wondered, and what seems like is never discussed, is who exactly is this money owed to?

    I know China, and other creditor nations, that’s obvious. But is a lot of this debt owed to big banks that just created the debt out of thin air? If so, I say screw them! Don’t pay it back! Loaning money at interest assumes a risk, which is why they charge interest in the first place.



  • El Pollo de Oro

    “This is the biggest bank robbery in world history, and the banks are doing the robbing.” —Gerald Celente

    “What a bunch of garbage: liberal, Democratic, conservative, Republican. It’s all there to control you, two sides of the same coin. Two management teams, bidding for control of the CEO job of Slavery Incorporated.”—Alex Jones

  • onecansay


    The entire problem is “usury”. What is that, you say!

    Interest, which is nothing more than pulling money out of thin air. Nothing more than ridding YOU of YOUR wealth.

    Get rid of the privately owned central banks (NOT SO(Federal Reserve)). The country must print it’s own interest free money. That way you can print as much as you want and never go bankrupt.

    Get rid of the leaches that only enrich themselves on YOUR own stupidity. Rise up fat, stupid, lazy sheeple. Storm the castle before it is too late.

    Do it before all the drones and troops and tanks and whatever other strange, human ending technology comes home to be used on ALL of US A.

    CANNOT STESS THIS MORE. Crap, THIS IS STRESSING ME OUT!!!!! aaaaaahhhhhhh!!!!!!!!!!!!!!!!!!

  • Fred

    China and the European Central Bank raised their interest rate again. It is only a matter of time before the Federal Reserve will have to raise their rates as well. They cannot keep their rate at almost zero while other countries are raising their rates. Otherwise, no one is going to buy any US bills, notes, or bonds that pays very low rates.

    Housing prices are still falling and it will lead to even more foreclosures. The US Government is unable to reach any agreement regarding our own budget. It is possible that August may be the month when everything falls apart, not only in America, but Europe as well.

    This country is in deep trouble. I’m not optimistic that things will get better. Maybe gold and silver is the only way to go as currencies fall faster than water going over a cliff.

    • 007

      The Fed will buy them.

  • What should we get ready? and how can we get ready?

    • Intelligent

      Trade as much of the paper funny money we call dollars that you can for real money, gold and silver. Buy a hiking water pump so you always have water along with as much canned food as you can store…….just in case things really go to s… Then hope someone in our government actually does what’s right for the people. It will eventually get better, we just have to go through the tsunami of crap that is coming.

  • UsurySINFULL

    onecansay SAYS ON
    July 8th, 2011 at 1:52 am · Reply


    The entire problem is “usury”. What is that, you say!
    oh how true the sin of USURY, For those who do not have a christian education, please look up the definition and wikipedia Usury.
    (Usury is the practice of charging excessive, unreasonably high, and often illegal interest rates on loans)
    It corrupts the soul and has destroyed many nations and will destroy the United States.
    the ONLY yoke ONE SHOULD HAVE IS THE yoke OF Christ.
    Never ever the yoke of usury.

  • dav down

    profs said “U + S total pub pvt debts
    $199t two hund tril 12 zero, West
    cant pay prin, only pays (for now) int.”

  • Lazy Ike

    We really need to write off the debt and start over. That is where it gets complicated, how will the policymakers apportion the pain in such a case. The young people will be in the best position as they can start over and accumulate wealth. Those that have it in dollar denominated assets will lose everything just as the Germans did in 1923. It seems clear at the this point that the western countries and Japan with their aging populations and high debt loads will lose to the Asian countries with their younger populations, low debt loads and low labor costs. But this will only be realized after the shakeout , which means China could go into depression and a revolution. Hopefully, the end game of war can be avoided.

    It seems clear that any urban community is in for rough times. All one needs to do is to watch the WGN news from Chicago to see what is going on there now. I could live in the small southern German communities as well as the farming areas of the Alsace in France. Switzerland would be good but the cost of living is too high, but all I have is a tourist visa. I think in the end the safest places will be the small towns in the Midwest where I already have a house. Jim Rogers lives in Singapore and has obviously thought about all these problems a long time ago.


  • Stephan Larose

    This economic collapse was predicted decades ago by those who understood that a private, un-backed, debt-based monetary system could do nothing but create more and more debt until collapse.

    However, this needn’t have more than a negligible impact on daily life. Where did this debt come from? By and large, this debt comes from money printed out of thin air, backed by nothing. “National” banks create their money from nothing, and private banks use fractional reserve lending, which means that at least 90% of the money they lend out never existed to begin with.

    The vast majority of credit is unbacked and based on nothing but our consent to create real value to pay it back. All we need do to fix our financial system is to have a constitutional, debt-free money system whereby government, instead of private entities like the Federal Reserve (it is private, not a part of the government), prints money – except this time it is debt free. This would mean the national debt would disappear within just a few short years, and with no national debt there would be no need for income tax. Cap money supply growth to population growth and you would have 0% inflation.

    The world’s debts originate out of fractional reserves and legal counterfeit. Just default on it all and take the power to print money away from private institutions and put it back in the hands of the people where it belongs.

  • moses737

    Thats right. Until the International Bankers/Illuminati devils crash the whole world economy; there will not be a true world economy. And these devils know that. As they are doing things to continue an economic assault on the nations of the world. We will probably crash between October 2011 to October 2012. And that is probably when they will impliment their draconian and evil end-game. And that is when their countdown to hell will begin!

  • I get the distinct feeling we’re all on the Titanic that’s hit an iceberg and is quickly sinking under water.

    I never thought I’d write this because I really dislike overtly religious and fundamentalists but it’s an appropriate time to add — when you’re in trouble not knowing what to do next, pray to Jesus Christ for guidance and for your loved ones and friends Further, don’t take the “mark” (e.g., RFID chip, brands of any kind) or any deals with Satan, Lucifer or any of his servants. Otherwise hell will open up its bowels and suck you in along with the others. People have admitted to making deals with the devil to spare their lives, and this is utter insanity. Why not ask for God’s help in whatever situation you may be in.

    I surrendered my life in this world a long time ago so I’m not afraid to die (at least I don’t think I am, you never know until you’re dying or about to die really). I live for things beyond this world.

  • Haid DeSaalmi

    Haven’t you read this and other articles? The solution to the problem is staring you in the face…let US back up a little.

    WHO created this financial disaster? The banks.

    WHO is all this ‘money’ owed to in other words IF a nation defaults WHO gets stiffed? The banks.

    WHO is making the problems worse by printing dollars? The FED bank.

    Default, in fact, you already did. I feel like a landlord extending a tenent 30 more days to catch up on rent that he never intends to pay.

  • Although I am Greek and I should be more aware about current insolvent crisis I should admite that if Greece economy collapse it will cause an domino effect that mainly will hit American Insuranse Company (AIG).
    They have buy CDS from Goldman Sachs that is amount to 4-5 trillion dollars.
    If Greece Prime Minister who always act as Goldman Sachs employee declares bankruptsy then American chopper will send trillion dollars in order to avoid their collapse.
    I wont pay CDS if you are unable to make a list woth names-companies and mainly Banks which issue CDS and to whom they sold them out.
    It is generally agreed almost by all participants that American economy is like Mickey Mouse economy.
    I am absolutely sure that mainly the problem is the rising populalation of middle class globally and their demand for papers (banknotes).
    Greece is a weak economy not major not significant to affect….precious metals market and USA -Europe economies.
    You dont shoot someone and you ask his name afterwards so if Greece stay away from Europe then to whom strong economies will sell their products.
    Now Greece country has been sold out by George Papandreou (was born in Minessota/USA and he isnt Christian like majority of Greece population) so current situation is beneficial for USA /Germany which bought in cheap price energy sources (oil -gas) and telecommunications.
    This is Mickey Mouse economies 1 Greek euro = 1 German euro = 1 France euro =…..=1 Latvia euro
    I repeat the problem isnt financial but the rising population of middle class globally.

  • libertymike

    Does anybody really think that the streets will be awash with septogenerians and octogenerians “rioting” if they do not receive their monthly stipend from Big Brother?

  • patriot alice

    Too big to bail, and too big to fail is the new norm, it’s hard to believe that even though Europe is leading the way to hell because of their high debt, here in the USA we continue to print, borrow and spend our way to hell too. When will they stop? To continue borrowing 2 trillion dollars a year to prop up a false economy is crazy. Huge cuts in government spending and tax cuts for the private sector to create jobs is the only solution, but politics won’t allow it to happen…..

  • People, the EU/US Central Bankers PRE-PLANNED this current economic ‘downturn’/’crisis’. They are awaiting the denouement – the final act – when the entire global financial edifice, comes crashing down – at which time, they will step in with their PRE-PLANNED ‘solution’ – a one-world, global currency, which only they control. And yet, in THEIR MSM (Main Stream Media) you’ll still see articles about how there are banks that are TBTF (‘Too-Big-To-Fail’), and need to be bailed out (!) rather than allowed to go bankrupt ! THIS IS SOCIALISM/COMMUNISM.

    • Sara Frazier

      No, This is not socialism or even communism…this is fascism…the merger of corporate and state power IS fascism.

  • What can Americans do to fight the New World Order?

    1. Turn off or throw away your T.V.
    2. Think for yourself.
    3. Question all so-called ‘Authority’
    4. Get out, and/or stay out, of debt!
    5. Use cash, trade or barter as much as possible, rather than debit cards and credit cards
    6. Get rid of grocery store ‘discount’ cards –grocery stores provide this information to insurance companies.
    7. Bank at a Credit Union, or any alternative to the ‘TBTF’ Banks, that participated in the 2008 Banker Bailout.
    8. Invest as much as you reasonably can in precious metals – especially silver.
    9. You have the right to own a firearm, to protect yourself,and your family. Read the 2nd Amendment.
    10. Buy products “Made in America”
    11. Start your own garden
    13. Meditate or pray – reduce your stress!
    14. Get exercise!
    15. Read a book (here is an excellent book recommendation: Psychological Warfare and the New World Order:The Secret War Against the American People ) The EU/US Central Bankers have two openly declared goals: 1) Global Neo-feudalism, via debt, for Nations and Individuals, and profits for Central Bankers, & 2) Global De-population. Yet, in the MSM, there is still an argument that there are TBTF (Too-Big-To-Fail) Banks????? How stupid are people?
    16. Listen to soothing classical, jazz, ambient, or other alternative music
    17. Watch ‘Freedom to Fascism’–a film by Aaron Russo (can be found here:
    18. Watch ‘Why We Fight’–a film by Eugene Jarecki (can be found here:…r_embedded)
    19. Watch ‘Endgame’–a film by Alex Jones (can be found here:
    20. Below is advice from John Perkins’ book, entitled THE SECRET HISTORY OF THE AMERICAN EMPIRE (The Truth About Economic Hit Men,Jackals,And How To Change The World), pp. 322-329.

    “AVOID SHOPPING AS ‘RETAIL THERAPY’ (Instead, jog, meditate, read, or find some other solution).
    SHOP CONSCIOUSLY – if there is something you must have, purchase items whose packaging, ingredients, and methods of production are sustainable and support life.
    PURCHASE AT CONSIGNMENT AND THRIFT STORES –where everything is recycled.
    Write letters telling Monsanto, De Beers, ExxonMobil, Adidas, Ford, GE, Coca-Cola, WALMART, and other labor exploiters and environment destroyers
    DOWNSIZE (your car, home, wardrobe) – everything in your life (and don’t buy what you don’t need)
    SUPPORT/SEND MONEY only to non-profits, radio stations, and other organizations that promote JUST causes.
    VOLUNTEER your time and energy to such organizations.
    ENCOURAGE stores to buy from local growers, producers, and suppliers.
    Shop at your LOCAL FARMERS’ MARKET
    AVOID DRINKING WATER THAT IS FLUORIDATED (only your toothpaste should have non-industrial fluoride)
    INSIST that those who use your money – banks, pensions, mutual funds, companies – make socially and environmentally responsible investments.”
    21. Invest in precious metals (especially silver).
    22. Research every company whose products or services you buy
    23. Research every organization to which you donate your hard-earned money
    24. Vote with your dollars!
    25. Watch ‘The Secret of Oz’– a film by William T. Still (can be found here:
    26. Get prepared for when the U.S. dollar TOTALLY COLLAPSES – You’ll need 1) Water, 2) Food, 3) Vital Medicine 4) First Aid Kit, etc.
    27. Global, non-violent, NON-COMPLIANCE is the answer, of We the Plebs, to the ‘elite’ New World Order!
    28. Find alternatives to EVERYTHING that they’ve set up, to entrap you in THEIR system.
    29. What would happen if 200 MILLION AMERICANS refused to pay their taxes, in 2012? (Just a hypothetical question)
    30. Familiarize yourself with the concept of BOYCOTT
    31. Corporate Membership in the CFR (Council on Foreign Relations):
    32. Don’t ever join a ‘secret’ society
    33. Watch ‘Global Warming or Global Governance’ ( )
    34. Educate yourself. Thomas Jefferson: “If a nation expects to be ignorant & free, in a state of civilisation, it expects what never was & never will be.”

    Expand the above list,and share it with everyone you know!

    • Ben,

      Why would you want to pay down debt if the dollar is collapsing? Wouldn’t you want to pay back debt with weaker dollars?


  • And, a PLANNED global financial collapse it will be. In 1971, Nixon closed the gold ‘window’, effectively removing the USD (US Dollar) from it’s peg to gold. Now, the major currencies of the world are pegged to the USD, which in turn, is pegged to oil. The EU/US Central Bankers (Rothschilds, Rockefellers) are DELIBERATELY causing a ‘race-to-the-bottom’, where nations debase their currencies to boost their exports. The plan, of the EU/US Central Bankers is to collapse all fiat currencies, including the USD, in order to usher in their new ‘GLOBAL’ currency – under their centralized corporatocratic, kleptocratic, fascist control. Of course, this new ‘global’ currency, will obviate or necessitate, a body for ‘global governance’, as well – meaning a global central authority – like Hitler, in Germany, or Stalin, in Russia, or Mao, in China – between them responsible for the deaths of between 66 and 106 MILLION people – mostly peasants. Hitler, Stalin, and Mao, were all backed by Wall St. They were hoping that ‘Barky’ would be their guy in America, to begin a de-population program here, too.

    Do you know WHY this is happening to America? It’s happening BY DESIGN. EU/US Central Bankers are the enemy of people, everywhere around the world:

    Keiser Report: Mass Psychosis (E167)

    • Forgot to mention – BUY SILVER! (Physical SILVER Bullion!) Buy as much as you can reasonable afford – BEFORE THE USD totally collapses! Not to plug any particular bullion dealer, because there are many good ones – shop around, and compare prices, per ounce, before spending your hard-earned fiat (increasingly worthless) paper cash!!!

  • “The single most important thing any human being can do, anywhere in the world, right now, today – is BUY SILVER. EVEN IF ONLY ONE OUNCE, OR TWO. BUY AS MUCH AS YOU CAN AFFORD. IF 100 Million human beings buy one ounce of silver – the central banker parasites are FINISHED. And, humanity can go back to living as God intended them to live – in FREEDOM.

    The Silver Bullet and the Silver Shield….

    Crash JP Morgan – Buy Silver (Episode 96, Keiser Report)

    I’m a Crazy Silver-Bug…Why Aren’t You?
    (or, 33 reasons to buy silver, instead of gold…)


    Watch ‘The Best Documentary of 2010′ – “The Secret of OZ”, to understand how the European Central Bankers took over the United States, in 1913, and realize, that by buying SILVER, we may be able to take our country back…

    The Secret of Oz

  • Naming Names: Your Real Government (When dark deeds unfold, point the finger in this direction).
    by Tony Cartalucci

    The Real Revolution
    “Boycott the globalists, cut off their support, undermine their system, and they lose their ability to commit these atrocities. That will be a real revolution and it can start today. Not burning cities and masked rebels waving flags, but communities no longer dependent and fueling a corrupt system we all know must come to an end.”

Finca Bayano

Panama Relocation Tours



Facebook Twitter More...