The Beginning Of The End
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Why Is The World Economy Doomed? The Global Financial Pyramid Scheme By The Numbers

Why Is The World Economy Doomed? The Global Financial Pyramid Scheme By The NumbersWhy is the global economy in so much trouble?  How can so many people be so absolutely certain that the world financial system is going to crash?  Well, the truth is that when you take a look at the cold, hard numbers it is not difficult to see why the global financial pyramid scheme is destined to fail.  In the United States today, there is approximately 56 trillion dollars of total debt in our financial system, but there is only about 9 trillion dollars in our bank accounts.  So you could take every single penny out of the banks, multiply it by six, and you still would not have enough money to pay off all of our debts.  Overall, there is about 190 trillion dollars of total debt on the planet.  But global GDP is only about 70 trillion dollars.  And the total notional value of all derivatives around the globe is somewhere between 600 trillion and 1500 trillion dollars.  So we have a gigantic problem on our hands.  The global financial system is a very shaky house of cards that has been constructed on a foundation of debt, leverage and incredibly risky derivatives.  We are living in the greatest financial bubble in world history, and it isn't going to take much to topple the entire thing.  And when it falls, it is going to be the largest financial disaster in the history of the planet.

The global financial system is more interconnected today than ever before, and a crisis at one major bank or in one area of the world can spread at lightning speed.  As I wrote about yesterday, the entire European banking system is leveraged 26 to 1 at this point.  A decline in asset values of just 4 percent would totally wipe out the equity of many of those banks, and once a financial panic begins we could potentially see major financial institutions start to go down like dominoes.

We got a small taste of what that is like back in 2008, and it is inevitable that it will happen again.

Anyone that would tell you that the current global financial system is sustainable does not know what they are talking about.  Just look at the numbers that I have posted below.

The following is the global financial pyramid scheme by the numbers...

-$9,283,000,000,000 - The total amount of all bank deposits in the United States.  The FDIC has just 25 billion dollars in the deposit insurance fund that is supposed to "guarantee" those deposits.  In other words, the ratio of total bank deposits to insurance fund money is more than 371 to 1.

-$10,012,800,000,000 - The total amount of mortgage debt in the United States.  As you can see, you could take every penny out of every bank account in America and it still would not cover it.

-$10,409,500,000,000 - The M2 money supply in the United States.  This is probably the most commonly used measure of the total amount of money in the U.S. economy.

-$15,094,000,000,000 - U.S. GDP.  It is a measure of all economic activity in the United States for a single year.

-$16,749,269,587,407.53 - The size of the U.S. national debt.  It has grown by more than 10 trillion dollars over the past ten years.

-$32,000,000,000,000 - The total amount of money that the global elite have stashed in offshore banks (that we know about).

-$50,230,844,000,000 - The total amount of government debt in the world.

-$56,280,790,000,000 - The total amount of debt (government, corporate, consumer, etc.) in the U.S. financial system.

-$61,000,000,000,000 - The combined total assets of the 50 largest banks in the world.

-$70,000,000,000,000 - The approximate size of total world GDP.

-$190,000,000,000,000 - The approximate size of the total amount of debt in the entire world.  It has nearly doubled in size over the past decade.

-$212,525,587,000,000 - According to the U.S. government, this is the notional value of the derivatives that are being held by the top 25 banks in the United States.  But those banks only have total assets of about 8.9 trillion dollars combined.  In other words, the exposure of our largest banks to derivatives outweighs their total assets by a ratio of about 24 to 1.

-$600,000,000,000,000 to $1,500,000,000,000,000 - The estimates of the total notional value of all global derivatives generally fall within this range.  At the high end of the range, the ratio of derivatives to global GDP is more than 21 to 1.

Are you starting to get the picture?

Every single day, the total amount of debt will continue to grow faster than the total amount of money until the day that this bubble bursts.

What we witnessed back in 2008 was just a little "hiccup" in the system.  It caused the worst economic downturn since the Great Depression, but global financial authorities were able to get things stabilized.

Next time it won't be so easy.

The next wave of the economic collapse is quickly approaching.  A full-blown economic depression has already started in southern Europe.  Unemployment is at record highs and economic activity is contracting rapidly.

The major offshore banking centers in Cyprus are on the verge of collapsing.  It was just announced that they will now be closed until Tuesday, but nobody really knows for sure when they will be allowed to reopen.  And there is already talk that when they do reopen that there will be strict limits on how much money people can take out.

And now the IMF is warning that the three biggest banks in Slovenia are failing and that a billion euros will be needed to bail them out.

The dominoes are starting to tumble, and the United States won't be immune.  In fact, the greatest financial problems that the United States has ever seen are on the horizon.

But you can just have faith that Ben Bernanke, Barack Obama and the U.S. Congress know exactly what they are doing and will be able to save us from the coming financial collapse if you want.

The mainstream media will provide you with all of the positive economic news that you could possibly want.  They are giddy about the fact that the Dow keeps hitting all-time highs and they would have us all believe that we are in the midst of a robust economic recovery.  You can listen to them if you want to.

But when you are tempted to believe that everything is going to be "okay" somehow, just go back and look at the numbers there were posted above one more time.

There is no way that the global financial pyramid scheme is going to be able to hold up for too much longer.  At some point it is going to totally collapse.  When that happens, will you be ready?

The New World Order Is Coming

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  • CRAT

    OK Michael, how exactly do you recommend we prepare? Apart from bean, bullets, cash?

    • GiantM

      Get on your knees. You’ll need all the faith you can muster for what may happen this year.

    • MichaelfromTheEconomicCollapse

      Preparation is going to look different depending on your circumstances.

      I put some of my basic thoughts on preparation into this article…

      http://theeconomiccollapseblog.com/archives/how-to-prepare-for-the-difficult-years-ahead

      But preparation goes far beyond food and finances.

      Life is going to change dramatically, and we all need to totally adjust our priorities and our thinking.

      Michael

      • CRAT

        Thanks-liked that link. Keep up the good work.

  • Paul

    I wanted to punch Ben Bernake in the face when he said that the U.S economy has improved in recent months.

    Dumbfounds me supposedly intelligent people on CNBC and elsewhere buy into the drivel that Bernake spews out.

    • Johnny Smith

      It’s not dumbfounding at all when you realize what their purpose is. They are government propagandists.

      • JustanOguy

        Government, Bankster and Corporate propagandists.

    • Rodster

      Keep in mind that Ben and his ilk cater to the no information voters like Gary2 who believe whaever the Govt Lame Stream Media tells them.

      With that out of the way these criminals KNOW the end game and it looks 100x worse than Greece, Spain, Italy, the entire Eurozone and the bank runs in Cyrus.

    • markthetruth

      You Every have the Feeling our World Leaders are Playing ” Pick up Sticks ” .

      the end…

    • http://www.facebook.com/profile.php?id=100000633875894 Randy Townsend

      Go rent “Being There”, Peter Sellers last movie. Compare Bernanke’s drivel with what the character Chauncy Gardner says – eerily similar. The US is the Titanic and the iceberg is the financial debt we are racking up. It’s coming folks, and the government knows it – they’re gunning up to keep the population in control.

    • JustanOguy

      Lol… Who pays the bills at CNBC and other Business channels?

      Would you want to piss off your big advertising sponsors telling the truth?

      Why do you think all of the people that were right about what happened last time are no longer being interviewed about what’s really taking place this time around?

  • drbuzzsaw

    “Turn out the lights, the party’s over, All good things must come to an end”. Remember that song from the old Sunday football games. I think it kind of fits here, don’t you?
    Prey Hard / Prep Fast / Time is Short / Oh So Short!!!

  • Scott Bartholomew

    The worst thing ever is keeping your eyes open as to what is going on, while being financially unable to prepare the way you see fit. Just a product of a 2008 college graduate. Yay.

    • GiantM

      We’re in the same boat. I know what’s coming and financially can do very little about it.

      It’s sort of like the Chinese Water Torture.

    • Ayn Rand

      16 and loving it. Can’t do sh*t to prepare except skills, body, and mindset. Parents are scrimping what we can to prepare. At least we are better off than Joe Schmoe; he is going to die. Will probably stay inside for a few days, run out of food, go to walmart and then get beaten to death by looters. good luck Joe… I truly feel bad for all the children who will lose their lives in this. All their ancestors fault for not preparing or stopping the elite who are doing this to us. Good luck all…

      • lampshade

        If only there were more teenagers like you. Stay safe.

        I’m 22, in college, in Australia I might add but things are going to change here, too. I’m already broke as it is.

      • Makati1

        A healthy body and mind well stocked with practical knowledge and skills will be the best preparation you can make. Without them, a warehouse of ‘things’ will be of little use. Good luck! I’m 68, retired American living in the Philippines, my choice of ‘bug out’ security, on a small farm along the Pacific. ^_^

    • markthetruth

      CONFUCIUS SAY: Criticism is not nearly as effective as sabotage.

      the end…

    • Bad_Mr_Frosty

      Being mentally prepared is worth more than you might think. Best thing to do is seek out like minded individuals. Network as much as possible. If you have friends or family with land, ask them if they will let you plant a garden. Look up info online or get books on survivalism. Learn how to live off the land as much as possible; edible plants, rabbit traps, solar purification of water, etc. Bows and crossbows are fairly cheap and don’t require a weapons permit. Do what you can with what you got and you’ll be better off than the guy with piles of survival stuff he doesn’t even know how to use.

      • pills9667@aol.com

        Gather as many useable assets as possible, get rid of what you don’t need, stop spending on friavalous items, get armed, get enough water and food for six months and over the counter drugs and cleaners, (more if you can) as well as what you would need if you lost all power for that length of time, have a sit down talk with your closest family and inner circle of trusted friends and make a plan of what you will do when it happens, and don’t broadcast it to people outside your circle, just do it.
        If you live in the inner city, seriously consider relocating…Not to scare anybody but that is where it will be bad. community is vital.

    • http://twitter.com/Praxisseizure Get out the info

      Yeah really. You’re way ahead of the game already having adjusted your emotions to accepting fate.

      I’ll just add to Mr Frosty. Download knowledge of all kinds. Reams and reams of it. Don’t just bookmark it. Most of it can be found for free. Also if you’re not averse to piracy, syphon books en masse since libraries might not be available.

      And then figure out a way to maintain access to it since printing it is impractical. Low power, renewable solutions are generally very cheap and laptops suitable for the task are also dirt cheap. Make backups.

      Essentially, if you’re a mobile repository of knowledge, you have great value to those around you. In a crisis environment, the specialization of labor in a modern economy tends to break down. But certain tasks requiring certain techniques, materials, methods, all sorts of considerations may be impossible to accomplish without appropriate expertise. Engineering books which detail the pros and cons of how to deal with excess moisture in different materials situations, house, building, attic vs inside walls is extremely invaluable. Knowledge = Freedom.

      That will give you an arsenal to work with when it is needed. Otherwise, Mr Frosty is right on point. Meanwhile while things are still good. Learn a trade that involves something people will need to survive. A safe bet is knowing modern infrastructure, plumbing, electricity, HVAC, carpentry, masonry, roofing, etc. You don’t have to be an expert but understanding all of the principles and having at least a little practice is key. You’ll more than likely have to improvise in a long term crisis and even basic knowledge of a trade will help enormously. It puts your mind in the right framework to solve unexpected problems.

      Believe me. Somehow learning how to brew my own beer contributed to me being a considerably better cook. I think the correlation is since brewing good beer requires a decent understanding of chemicals, temperatures and how organic compounds interact. Same thing applies to food. So one set of knowledge allows for intuition in a related set where none existed before.

      Anyhow, wall of text, good luck. You’ll be fine and MUCH better off than the next guy whom a crisis slaps upside the head.

  • K

    Michael, to sum up your very thorough article, the math don”t work. Your right it does not. Here is where we disagree. You seem to think the Government is stupid, or perhaps in denial. I think they know, just what they are doing. My proof, 2 billion rounds of ammo, converting 2700 MRAP vehicles for domestic use. The acceleration of the drone program, in the U.S. And last but not least. The conversion of 3 additional battalions of Marines to M.P. units. They are lying, to buy themselves a little more time. They know civil unrest is coming, and what but the economy could cause such a level of unrest.

    • Johnny Smith

      Yes I tend to agree. They are smart, not dumb. They know exactly what they are doing.

    • A Dodgy Bloke

      Ok I have to respond to this 2700 MRSP divided by 50 gives you 54 MRSP per state. 60 if you take from less populated states to more populated states. 60 would wouldn’t be enough to keep Boston pacified let alone California. I haven’t heard about the Marine MP battalions, bit Ok lets say they have 60 MP battalions (I know they don’t have that many but lets pretend.) Lets round it up that’s 2 per state which would be 100 battalions that’s about 8 divisions. The US army has 10 active duty divisions. The point I am trying to make is yes the government is preparing for something looking at the mess around the world they would be fools not to. To suggest that this will but a clamp on any unrest is simply not being rational. The best they can do is contain the major cities. They have enough for that, not much more, and not enough for some NWO take over.

      • K

        Who said anything about NWO? Yes I think such forces will be used mostly in the cities. That is why I live way out in the country. But also I think you underestimate the capabilities of an MRAP. That turret is designed for a 50 BMG or a fully automatic, belt fed, grenade launcher.Perhaps you think they would never use such weapons in the U.S. I used to think that. I don’t anymore.

        • Ralfine

          If you rise up against your government, like the Arabs do, we could send UN peace keepers to America and France could sell you weapons like the US did with Osama bin Laden.

      • phdinlogic

        It is not the US military you need to worry about. Russia and Chinese military would love to step in for the NWO and take out some of our citizens.

      • tom

        I live on Long Island,NY. They just have to cut off access for trucks (food medicine, etc) and wait us out

      • BonusGift

        What you think Barry Soetoro and fellow travelers are just one of us and not part of a NWO? If you do, then what take over, it has already happened and we are only talking about taking the mask & gloves off, and consolidation.

      • tomydispik

        One thing you left out of that equation is cutting off logistics. Your right they don’t have enough to quell a large city, but if you shut off the power, water, food, and other logistics those same troops can maintain a boundary on the outskirts. Anyone trying to get out and get safe would have only what they could carry and be in no condition to resist even a 4 man squad.

        Wasn’t that their game plan in Falluja? Contain, cut off, filter evacuees, and advance on the weakend remaining resistance. Best thing is on the other side of any containment you have a group of disarmed conformists.

      • pills9667@aol.com

        Sorry, what isn’t being “rational” is to still be living in denial in spite of the myriad of signs everywhere…Even people who don’t have time to do their homework are buying guns because they know instintively that something is coming…And just like in Germany there are all those who choose not to believe it. I would rather at least have some kind of heads up…
        What they will do is let the inner city areas implode like what is happening in detroit already (the police don’t mess with those gangs killing each other), civil unrest that they will allow to wipe each other out, and then as they will scavange out into the private sectors, here the DHS will try and confiscate our guns and food (in the name of peace and justice). Where they will have a great deal of trouble are in the areas (which are many) in the red states where people have never ceased to be self reliant and have been preparing for this a long time. You know, all those “whacky” preppers who suddenly will be the only ones who will have a chance here. I am not even sure whether the Texas military will go along with this kind of takeover.

    • RICHARD

      You forgot to mention there trying to ban clips that hold more than 8 rounds at a time. What is seeing coming you better have some serious fire power.

      • K

        True, but the MRAP was the final proof to me. Armored heavy enough, that no civilian owned weapon can scratch it. Even IED type weapons have little affect on it. Such vehicles, do not belong on the streets of America.

        • kfilly

          How about moltov cocktails? Are they sealed water tight? Or make some home made tear gas by mixing ammonia with chlorine bleach. Use an explosive device to blow up a 20 lb (typical grill size) lp cylinder. Those are a few ideas. That grill cylinder thing packs a punch. I work as a firefighter I know about that stuff.

          • K

            Sorry, I was just commenting on how such weapons of war, do not belong on the streets of America. I have never given any thought on how to stop one.

          • kfilly

            I agree that those weapons don’t belong on American streets. However, you make it out as if those things are invincible. That is truly not the case. Like a said, a 20 lb gas grill cylinder will make quite the explosion. Powerful enough to disable, roll one of those over, or destroy it out right. IED weapons disabled M1 A1 Abrahms tanks in Iraq. Nothing made by man is indestructible. This is the time to educate one another about how to use simple these we already have to fight against tyranny.

          • K

            Nothing is invincible. But saying to much on an open forum, is unwise.

          • kfilly

            Saying anything on any internet site is unwise. Becareful about words used on Facebook.

          • kfilly

            I didn’t state in my previous post that I don’t advocate violence against policing personnel. These people might be sent just to keep order and quell riots. If the policing powers use their weapons against peaceful citizens, people have a right to defend themselves. I also advise people to avoid the policing people as much as possible (ie leave the cities).

        • RICHARD

          It also says in the constitution that the government will use no military against its citizens. How many times have they done it here? They will do it again, but on a brooder scope, and i guess you see it coming to?.

          • New Java

            Is DHS military? How about UN forces on USA soil? you’re a few years behind.

        • Ralfine

          Vehicles need fuel, and they are driven by humans.
          And if they are unmanned, they still need to see.

          Every technology has its vulnerability.

          • BonusGift

            How right you are.

        • Bad_Mr_Frosty

          I heard epoxy paint. Put it in a mason jar and throw it at the windshield. They would have to get out and remove it with chemicals.

          • http://www.facebook.com/myhomedesigner1 Richard Medicus

            Just use eggs. They turn on the wipers and become nearly blind.

        • markthetruth

          All the CRAP is enough proof to me.

          the end.

          • merry529

            uptil I saw the bank draft ov $9828, I have faith that…my… sister was truley bringing in money part-time on their laptop.. there uncles cousin haz done this for only 16 months and at present took care of the mortgage on their house and got a brand new Lotus Carlton. read more at, jump15.comCHECK IT OUT

          • Brenda Thompson

            Mackenzie. if you think Juan`s c0mment is flabbergasting… on sunday I bought Citroën 2CV after having made $4538 this past five weeks and even more than ten k this past month. without a doubt it is the nicest job I’ve had. I actually started 9-months ago and almost straight away began to make minimum $71, per-hour. I use the details on this website,, jump15.comCHECK IT OUT

        • Frank_Sturgis

          molotovs will still starve the engine block of oxygen and stall it out while turning the thing into an oven.

    • markthetruth

      It is here !!!

      VEGAS 98

      the end…

      • JustanOguy

        Lol… the Vegas 98 are a bunch of loons controlled by a Union that’s been creating havoc since the 70′s if a hotel does not go along with them and allow the Union in.

        In other words — Nothing new.

        The Cosmopolitan in Vegas has been bleeding money since it opened and they don’t want to sign Union Contracts. That’s what that is all about.

        The End.

        • markthetruth

          The issue now is China is Moving into the Vegas Casino’s .

          the end…

          • JustanOguy

            No issue at all….

            For anybody reading this, markthetruth is referring to the Genting Group based out of Malaysia (but worldwide) buying The Echelon (started but not finished) from the Boyd Group to turn it into a world class Multi-Billion dollar resort.

            The Boyd Group had no business getting into the major resort biz on the Vegas strip while the Genting Group certainly does.

            The Genting Group is Loaded with cash and a database of customers from around the world that will certainly benefit Las Vegas.

            Small chumps will continue to fall as they should with their old dumps… the big guys will keep Vegas exciting and the money flowing in.

            The End.

    • JustanOguy

      Spot on K. People are angry… just not angry enough to do anything about it …. yet.

      Too many people have faith in all the people that were wrong about the last “hiccup” and not listening to the people that were right.

      The same people that were right about the last “hiccup” are predicting that what’s coming up is going to make 2008 look silly.

      This time around… I think you are right about the lying and buying more time to prepare for what’s going to make the worst riots in U.S. History seem like peaceful protests compared to what’s about to go down when the checks in the mail end.

    • Mondobeyondo

      The U.S. police state is fast approaching, if it is not already here. The government is going to be like Santa Claus. “They know when you’ve been sleeping, they know when you’re awake…” Social media tracks you. Your smartphone tracks you. Cameras are everywhere. Anyone with even the most basic information can load in Google Earth and see a picture of your house! Yikes!

      And they’ll even have drones to blow you away in case you misbehave. Yes, even for American “terrorists”! On AMERICAN SOIL!! Rahm Emanuel denies this. They all do. Until the day of reckoning comes, and they will all behave like Urkel on “Different Strokes”: “Did I do thaaaat?”

      p.s. I think I got the TV show wrong…

  • Johnny Smith

    Gold, silver, bitcoin. Bitcoin can be stored on the internet or on a piece of paper. Gold/silver you have to bury in a safe or vault. To each his own.

  • sharonsj

    Derivatives are nothing but gambling and they’ve crashed in the past–but we never learn, do we? Meanwhile, Congress is trying to undo existing regulations because so many of our reps are beholding to Wall St.

    The answer is to make sure you own no stocks and bonds and that your organization/union/whatever isn’t stupid enough to invest in derivatives. That–and vote out 99% of Congress.

  • A Dodgy Bloke

    I’ve heard enough about the math, anybody paying attention knows the math doesn’t work out, ok I buy that. What I’m curious about is what does the US and the world really look like on the slide down and I’m not talking clouds of drones and NWO madness. I think people clutch on to those meme’s because it’s an excuse to throw up their hands and not do anything to prepare. The world is going to become a very violent place. Government will retreat like a body responding to hypothermia the blood retreats from the extremities to the core. Government act the same way when they don’t have resources to maintain what they have so they retreat. People need to be prepared for this, people need to get into shape. You need to get a gun and learn how to use it, you need to learn how to grow food you need to build community. You can’t eat gold silver or Bitcon.

    • Ayn Rand

      I wouldn’t underestimate the governments and elite. They have a lot of resources. They will at least secure their own zones for personal use. I agree with the rest though. But, one suggestion: Don’t just buy a gun, buy a motherf***ing arsenal of various weaponry! Other, more sustainable, types of weapons should be bought and trained with. bows, crossbows, knives, shovels, anything you think might be useful and sustainable. Also learn to make gunpowder and handload to stretch your ammuntion resources.

      • Rodster

        That’s why the Govt has purchased over 2 billion rounds of human shredder bullets aka “hollowpoint” bullets, and it’s the other reason why the US Govt is hellbent on banning assault weapons.

        • Ayn Rand

          Makes it a bit easier to reclaim the zones that have descended into chaos. Superior firepower does make it that much easier.

        • Roger Smith

          My opinion is that the hollowpoints are not meant for the government to use on us…..They’ll just leave them laying around so that we can use them on each other. That’s what they’re hoping. Why would they get their hands dirty when they know we’ll do all the work for them. They can just watch from the bunker, eating popcorn, and looking through binoculars as we take ourselves from a population of 300 million to 300 thousand. That’s how the Devil works. Logically, Methodically, Efficiently. And as for the gun ban…All that has done is cause us to arm up even more. They were workin’ us on that one too. And if all that weren’t enough, Obama and his Demon squad have taken every opportunity to divide us and promote hatred between groups: Blacks against whites, Men against women, young vs. old, gay vs. straight, left vs. right, rich vs. poor…it just goes on and on.

          • BonusGift

            So they want us armed and they don’t want us armed, brilliant plan! Let’s face it, if the NWO could disarm us today they would. Buy whatever weaponry whenever and wherever you can. Marxists always disarm their targets.

      • Ralfine

        Yes, all your gun purchases will raise the profits of the elite.

        Spend all your savings on their profit.
        They will send you a thank you letter when you are the one to spend the most.

        the race is on.

    • Rodster

      You want to know what the US and the World will look like on the way to a collapse? It’ll make the riots in Greece, Spain, Italy and the bank runs look like a “group hug”.

  • glammingandvampingallround

    I worry so much…if the economy does crash and things do get so bad as many believe here, where will I get glitter from, and foundation and eye liner and cold cream? I have made a living being a vamp since 2008 and my job loss and these are things I truly NEED to continue on. Someone please advise. And I guess this means I can’t fall back on my looks and use men to bail me out…..very distressing and upsetting as if this is the case, what good are men anyway? They seem to cause so many of the world’s problems when you get right down to it. And no I’m not a lesbian, just a realist.

    • littlemissweeziepleasesqueezzy

      Yes, and have you noticed that missiles and bullets are phallic shaped?

      • Graham

        They have to be in order to maximise targeted penetration. Perhaps you can now explain why church steeples are the shape they are?

        And in response to the “vamp” above, have no worries.. change your look and use gunpowder instead. Just ignite it and your glitter problem is resolved :)

        Vets may also find you very attractive whilst looking like a GI Jane. Forget the money, you may be rewarded with food.

  • markthetruth

    ” Talk About A Sink Hole ”

    the end…

  • Jodi

    Bernanke says “No signs of a stock bubble”. You know when he says this kind of stuff, we are in trouble. Buckle up gang!

    • markthetruth

      CONFUCIUS SAY: Even a fish can escape being caught, if it keeps its mouth shut.

      the end…

  • Mondobeyondo

    Ka-boooooommmm….

  • http://karmaeconomics.blogspot.com/ lavista4u

    To all Europeans and Americans. Take your money from Banks now. In Cyprus, 10% tax was an eye-wash, an excuse to not open the banks for ever. One of the greatest tricks the PTB played on humanity.

    Now, they will say, the banks couldn’t be saved, so the banks will not be opening at all.

    You see now, they got 100% of your money with perfect excuse. They know, if they open the banks, no one will keep even a cent in. That was their plan from the beginning.

    10% tax on Cyprus bank savings was a trick to get 100% of the money.

  • Wally

    I have been reading all of the comments and I had a few comments of my own. When the bubble bursts I think the US Government will declare Martial Law. It would be incredibly difficult to get American soldiers to turn their guns on other Americans but that doesn’t prevent the Martial Law from being enforced by say foreign troops does it? Other countries don’t like us and their military I am sure will have no problem killing Americans who riot and create civil unrest plus I have heard reports lately of TSA and DHS employing criminals or people with violent criminal backgrounds. Violent criminals don’t seem to have a problem killing Americans do they? Don’t fall into the normalcy bias and think just because it has never happened here that it won’t happen. Maybe Hank Williams Jr. was right in their are striking similarities between Hitler and the Schutzstaffel (SS), Gestapo as there appears to be with this president and DHS, TSA and other agencies. A modern day night of the long knives could surely happen. It has happened before. This is a very scary time. I have a few suggestions: If you live in a major city, move. If you don’t own a gun, get one before you can’t get one any longer. Don’t join a revolution or riot unless you are ready to face death because the powers that be have a lot more weapons than you and you will surely die if you fight. Buy what you can right now for food and I suggest food that will last for a long time stored like beans, rice and honey. The most important thing is to find a sustainable water source, I think a well is going to be your best option here. Remember that even the Fish and Wildlife Service ordered huge amounts of ammunition, why? Could it be to protect food and water sources so that people can’t start going out and killing animals for food and draining water from rivers. Michael has written about people dumpster diving in Europe just for food scraps in the countries where the collapse has already started. Do what you can to prepare NOW! Hey look I am not trying to be an Alex Jones Black Helicopter fear monger but their are just too many things happening to simply be coincidences.

    • Syrin

      The DHS has been training Russian military as well. The rumor I read is that Obama will give large chunks of our farmland to China in exchange for debt forgiveness, and that Chinese military will be allowed to be present on their new territory to protect it. Seems VERY far fetched, but we are in historic times for all the wrong reasons.

      • wildflower82

        When will someone put an end to this disgusting tyrants ludicris actions!? He spends us into oblivion and now is giving our farm land to China? Could you please cite your source? Thank you.

    • Ralfine

      Americans have no problems shooting Americans. There are so many murders every year in America.
      American policemen have no problem shooting lawbreakers.
      The American mob has no problem shooting other Americans.
      Americans can be brainwashed very easily.

      Put the soldiers into barracks for weeks and pound them with news about chaos on the street caused by terrorists.
      They will shoot at anything that moves, like they do overseas.

      • wildflower82

        Then why have several soldiers stated on record, that they will absolutely not fire on US citizens? It will be like Red Dawn…foreign troops.

        • Ralfine

          OK, they will have kitchen duty then.

      • JustanOguy

        Doubt it… I was in the Military and we took an oath to Protect the Constitution… not a king.

        Shoot anything that moves like they do overseas? Why don’t you spend a year in Afghanistan / Iraq and have to worry about some towel head wanting to kill you every single day you are there and get back to us about that thought.

        You and the people who gave the thumbs up have obviously never served in the military. U.S. Soldiers are not robots and have family all across the U.S. more important to them then the idiots in Washington D.C.

        U.S. Soldiers Brainwashed? Really??? Veterans and Soldiers overwhelmingly vote for which particular party?? (Hint… Not the Democrats.)

        You’ve obviously been watching too many Hollywood movies.

        • pills9667@aol.com

          Gosh, I really am praying you are right about that. Hearing you even say it is heartening. What I wish our military and police would be doing right now (like a sheriff did lately) is to continually send out a message that of course they have no intention of turning on citizens …which would broadcast a strong voice that they would defend us.

          • JustanOguy

            Veterans and Active Duty Military are overwhelmingly against Obama, Reid, Pelosi, Napolotani and the other Socialist Progressive minions.

            I can pretty much guarantee you that as soon as the “king” tells the soldiers to turn on the Citizens…. The King, Queen and their Pawns are all going down hard.

            I’m actually looking forward to it.

            Just look at where the “big” bases in the U.S. are located with big veteran populations are and who they voted for.

            It’s time for a cleansing.

          • pills9667@aol.com

            You have no idea how good that is to hear. Just knowing it is how you feel personally as military is a comfort. Some of the pro American voices are starting to speak up for us now, which I think empowers others to do so. And I just wish there could be an avalanche of vets and active troops who would be making it very very clear that they will NEVER force us against our constitutional rights. I just can’t ignore the surplus of ammo recently accrued by Homeland Security. Have been watching closely for a long time. I know this guy is trying to tear us down. Any thoughts?

          • JustanOguy

            I can tell you that all of my very personal friends that are active military or veterans (highly skilled within the military BTW) are not supportive of Socialist Progressives.

            Benghazi where one of my friends/neighbors was killed has just added fuel to the fire.

            No way we would support Obama and his minions turning on U.S. Citizens that don’t have bad intentions.

            Inner city gang bangers? Yeah…

            Controlling good people though?

            No way.

            We all have family… many of us have kids. When it comes down to it…. we know who the real enemy is.

            Watch Zero Dark 30 and you’ll pick up on something if you really analyze it closely.

            Not advocating a civil war… but I’ll pretty much guarantee you that when the crap hits the fan the real citizens of this country are going to turn and take care of the garbage.

            Anybody who states otherwise has never served in the Military.

          • pills9667@aol.com

            JustanOguy, I did get to see Zero Dark 30. What is it that I should be looking for? Their character of integrity? Or that they were all built like tanks? And allow me to thank you for your service to this country. When I first discerned the signs of what is now becoming apparent to us here in America, my initial thought was that of course our military and police wouldn’t turn on law abiding citizens. But then I wouldn’t have believed what is happening now could have gotten to this point. I mean, sometimes I feel like I am living among The Invasion of the Body Snatchers. My father who was a pastor was first a marine, seargeant of weaponry, and president of the Sons of American Revolution. My husband who was a police officer for a while before going into Planned Estate Giving (banking), over these last years under his instruction I have gotten my concealed carry, and have done that because I am sensing an impending shock in this country; I don’t say that lightly, because I am not an alarmist. In fact, ultimately I trust God completely, and actually believe maybe we need to have a leveling event to wake some of us up concerning the infiltration of corruption in government and evils of socialism, (and how alien that oppression is to us spiritually as a nation), but that this won’t happen without some real suffering. I know something is going to happen, enough that coupled with my husband’s pragmatic insight’s into our country’s economical situation, has gotten us to prep a bit for a time of hardship. Without going into more on that, I feel fortunate that I have a strong circle of extended family and church family. The church family aspect might seem corny to secularists, but I can tell you when it comes to a trusted community there is hardly a better resource for the average citizen. And this particular church (I am their pastor), although mainly proffessionals, are also 2nd amendment rights advocates and aware of what is coming at us like a freight train. It’s a spiritual matter, and those who are in the flow, are getting intuitively getting ready.
            If you don’t mind I am going to let my husband read your posts.
            Your perspective has been timely for me. I trust what you are saying here.

          • Brodie Baker

            I hope you don’t mean “Napolitono”. As in Judge Napolitono. He’s a Libertarian, a staunch supporter of Liberty.

    • wildflower82

      Nothing wrong with Alex Jones. He laughs when people like you claim he is a “fear monger”. He is alerting people and trying to wake up mainstream joe schmoes.

      • El Pollo de Oro

        Wildflower82: Alex Jones, like Gerald Celente and Chris Hedges, has major credibility in my book. Back in 2006 and 2007, the Bushbots mocked Alex Jones for warning us about the abuses of the police state and saying that a major economic crisis was just around the corner. But Signore Jones was absolutely right about both the economy and the police state.

        “Being concerned about something and getting prepared for it is not fear-mongering. It’s called getting up on your hind legs and fighting.”—Alex Jones

  • smallergovnow

    Great post Michael. Be well friend…

  • Ayn Rand

    Ya know… these numbers remind me of a 50′s song… “Heartaches by the Number”

  • roonster

    Stock pile food and bullets, drill your own well and plant a very big garden. Save all your cash for kindling.

  • http://www.facebook.com/profile.php?id=1381717510 Chris Jaynes

    Whenever things finally collapse, the US is the last place I’d want to be. I’d rather be in Europe, even Greece…

    The US has the highest incarceration rate, you know.

  • Graham

    Good link Washington!

    Nigel Farage (UKIP) is another character worth looking up on YouTube. He is an MEP and speaks in black and white too. Priceless footage!

    • Washington76

      Thanks’ Graham!

  • http://www.facebook.com/profile.php?id=1596731290 James B. Hixson

    There is a concept in the Old Testament of the Bible where they would declare a “Year of Jubilee” where everyone’s debts are forgiven, wipe the slate clean, Etc. This occurred every 6 years. So, maybe the rich, Elites would be willing to declare a year of jubilee, and let our economy recover and realign itself with the realities of the Earths available resources. Something has to give.

  • Mondobeyondo

    Nothing right now is okay, That’s the problem.
    Before you can fix a problem, you have to acknowledge there’s a problem to begin with. The financial world, especially in the U.S, refuses to accept that our economy is in Deep Doodoo.

    “If it ain’t broke, don’t fix it”.
    Well guess what? It’s broke. It’s been broken for a long, long time.
    We are no longer able to fix it. It’s gone too far – the can’s been kicked down the road too many times. So now, circumstances are about to fix us. You will not like the paradigm shift.

    • BonusGift

      Bingo, thanks for the summary.

  • Mondobeyondo

    Pyramid schemes! That’s what they all are.

    The stock market. Social Security, And all other such plans.

    If you get in at the top/beginning, you’re fine. You’ll get what’s owed to you.
    Otherwise…well….good luck and God bless. Sorry you pulled the short straw. You should have been born in 1926. (As if you had any choice in the matter.)

  • Ralfine

    We just need to stop bailing the banks out.

    You can write off losses.
    Companies write off losses every year.
    Everybody writes off a lot of value every year.
    I bought a can opener the other day. I couldn’t open a single can with it. Returning it to the shop would have cost me 4 times the value for transportation. So I had to write it off.

    Why can’t banks write off bad investments?

    • BonusGift

      Of course they could, but then they would be declared officially insolvent, and, gasp, bankrupt. The primary issues are: (1) someone must realize/take a loss, (2) at this point TPTB/the tribe don’t want to, and (3) most importantly TPTB always want more control & power and that wouldn’t suit those purposes (i.e., they might have to take a step or two backwards from power & control and we can’t have that can we?). In short, Heaven forbid we actually recognize and realize economic losses and punish those that got us here and lied about the economy and people they destroyed along the way.

  • chilller

    A financial collapse will be an opportunity to hold those responsible for this mess in the first place. We must make sure no remnant of these fools survives into the next administration and that we “reorganize” the way our gubermebt, banks and corporations do business. A good place to start would be making gambling (stock markets) illegal as they only pander to the rich shareholders while making the little laborers pay the price. We MUST NOT allow these same criminals to exist beyond the disaster they themselves are responsible for.

    • jaded

      AMEN!

  • http://www.facebook.com/andras.farago.948 Faragó András

    are,nt you too pessimistic? sp500 is said to be 20% over the level today, why panic? maybe a little correction is on the way, but nobudy is talking about the flash crash. just you.

  • http://twitter.com/JailBanksters JailBanksters

    So basically what we should all do each morning when the sun comes is go, Who Hoo made it past another day.

  • Jstav

    We are right at retirement. We have prepped as much as we feel comfortable, live rural. What should we do with our 401K? Advisors all tell us not to be emotional investors. I believe the above article- it has been clearly predicted for a while now.

    • JustanOguy

      A lot of “advisors” are just salesman…

      Look into what your 401K is invested in…. if it’s in financials and munis… I’d be looking for companies that own income producing assets, land, food, etc.. that are cash rich or very low in debt.

      Personally… I rolled into a self-directed IRA but I know how to read income statements and balance sheets so I’m more then comfortable picking out my own companies to invest in and don’t need an Adviser aka Saleman telling me what to buy.

      Think about what’s needed if a major Financial collapse happens and go from there if you are going to keep your money in the market.

  • Larry

    In Howard Storm’s book, “My Descent into Death” (2000), Storm describes the future of mankind as given to him by light beings he encountered during his NDE (Near Death Experience) in 1985.
    The light beings replied, “The United States has been given the opportunity to be the teacher for the world, but much is expected of those to whom much has been given. The United States has been given more of everything than any country in the history of the world and it has failed to be generous with the gifts. If the United States continues to exploit the rest of the world by greedily consuming the world’s resources, the United States will have God’s blessing withdrawn. Your country will collapse economically which will result in civil chaos. Because of the greedy nature of the people, you will have people killing people for a cup of gasoline. The world will watch in horror as your country is obliterated by strife. The rest of the world will not intervene because they have been victims of your exploitation. They will welcome
    the annihilation of such selfish people. The United States must change immediately and become the teachers of goodness and generosity to the rest of
    the world. Today the United States is the primary merchant of war and the culture of violence that you export to the world. This will come to an end because you have the seeds of your own destruction within you. Either you will destroy yourselves or God will bring it to an end if there isn’t a change.”

    • Louise in MO

      And, 51million babies have been KILLED in the womb since Roe V. Wade. You cannot believe that God will continue to bless this nation. God gives life and millions have taken it upon theirselves to kill that life. It’s called infanticide and you can ignore it all you want, it’s murder!

      People think I’m “radical.” I’m not radical, I’m a realist. We will NOT take back our country. This time God is NOT on our side. Unless, of course, you are an atheist and have no use for God.

  • sdf adfsd

    “You think your world is safe, it is an illusion, a comforting lie told to protect you.

    So enjoy these final moments of peace..”

  • chilller

    I lived with my aunt every summer in a farm house with no electricity or running water. They were some of the best summers of my life. People adapt and would quickly find out the life of yester year is infinately more wholesome and rewarding than what we live today.

  • Kim

    What does “notional value” mean?

    • http://twitter.com/Praxisseizure Get out the info

      notional value = implied or assumed value since real value cannot be pinned down due to a lack of transparency

    • wayan

      a general understanding; vague or imperfect conception or idea of something

  • Roger Smith

    Oh, what I wouldn’t give to bring this one Irish journalist over and let him tear into Gentle Ben during one of his press conferences….

  • FounderChurch

    Thanks Michael. Google Search “FounderChurch” as one word with quotation marks around it and you will get 7000 hits all teachings of FounderChurch. Thank you.

  • JustanOguy

    The 2008 “hiccup” was stabilized due to the Mark to Market accounting rules being changed in April of 2009 to give bogus values to assets secured by loans. If it was not for that… the big financial meltdown would have already taken place.

    Get out of Munis and any funds tied into these… The inflection point has already been hit and the debt spiral is on.

    Printing up $40 Billion a month is delaying the inevitable but will only work for so long until the poor and middle class without income producing assets are going to get majorly screwed.

    People who believe that Big Government is the solution have zero clue that the bad decisions made were because of the Government being in bed with the banksters to begin with.

  • Blair T. Longley

    “The global financial system is a very shaky house of cards that has been constructed on a foundation of debt, leverage and incredibly risky derivatives.”

    The fundamental cause of that was the history of warfare making kings, becoming states with sovereign powers, and then the governments of those states being taken over by the biggest gangsters, the banksters. In that way, the War Kings morphed into the Fraud Kings. The banksters are now the new royalty, that have effectively become above the rule of law, because the overwhelming majority of people have been conditioned into becoming Zombie Sheeple.

    There are much deeper levels to this that almost nobody is willing to admit or address:

    MONEY IS BASED ON MURDER.

    The debt controls depend on the death controls. Furthermore, it is NOT possible for that to operate in any other way. Human realities are ALWAYS organized lies, operating organized robberies.

    We have no choice but to continue to muddle through the madness of living inside a runaway fascist plutocracy, which has become an unbalanced juggernaut, which is most probably going to turn the majority of the people into its road kill.

    More significantly, the political economy is always inside of the human ecology. The central core concept of ecology is that, after one has life, then death directs the evolution of that life. The real world system today is a globalized, privatized, fiat money, made out of nothing as debt, system, operated electronically, and backed up by nothing, except the threats from weapons of mass destruction. Thus, we are living inside a runaway electronic fraud, backed by atomic bombs.

    There is no doubt that the financial numbers are NUTS!

    However, our civilization is much crazier, on way more profound levels, because it is controlled by the best professional liars, and immaculate hypocrites, while the majority of people do not want to learn about that, and do not want to think any more deeply about WHY. 99% of the people do not understand the basic social facts presented in this article above, and 99% of them are not prepared. Therefore, it is probably nonsense to pretend that the 1% who are attempting to prepare actually could be prepared.

    We have developed technologies that are trillions of times more powerful, and able to use trillions of times more information, BUT, all of that was channelled through a social pyramid system based on the vast majority of people being ignorant and afraid, while they are controlled by dishonesty, backed by violence.

    TO REPEAT: the basic reality is that money is backed by murder. It is impossible that money can exist in any other way. THAT is the problem. THAT was why we ended up with the Fraud Kings running our financial accounting systems. Therefore, the only genuine solutions require that we go through profound paradigm shifts in militarism, in order to operate different murder systems, doing different death controls, because THOSE are the REAL PROBLEMS, and nothing outside of that frame of reference could provide sufficiently realistic solutions.

    The ruling classes ARE preparing for the collapse of their house of cards. They HAVE prepared to start more genocidal wars, along with imposing democidal martial law. However, the ONLY actual alternatives are to do that better than they otherwise would.

  • NorthernCanuck

    Three words: Operation Garden Plot

  • eesthuryahee

    Just stop when it is time to stop

  • Django

    The Global Fed Banks might as well be printing monopoly money at this point! When they are backing their currencies with debt, digitization, or thin air, it means there is more debt than money in the world to back it up! Great article!

  • Oil exectutive

    WHY DOES THIS GUY NEVER MENTION PEAK OIL? THE UNDERLINING REASON FOR EVERYTHING ELSE. please people don’t reply with delusional comments based on mainstream propaganda or magical thinking. I’m seriously asking an intelligent question here.

  • Oil exectutive

    This site is actually part of the corporate system.

  • http://www.facebook.com/mykel.scott.77 Mykel Scott

    Who is we ? Cause I could give a rats bum about this mess .

  • lilo

    Agreed. Just don’t try to mention this to others. They accuse you of being negative and a doomster. They get angry. They don’t have any idea about what is to come. Then they may care. When they come knocking on my door for help, I will remember they did not listen when I tried to help. Protect yourself. No one else is going to be able to.

  • TrollBoy

    I take issue with the premise in the first paragraph. I have 300K in debt, but only 3K in the bank. Not as grim as it sounds, I have over 800 in hard assets. I could be debt free but I prefer owning leveraged property producing income and fun. I don’t disagree with the conclusion!

  • Kevin

    There are no numbers….same as electronic paper….doesn’t exist

  • http://twitter.com/bgamall Boycott the Lenders

    Oh I don’t know. Deflation in small doses is hurtful but not terminal. Look at Japan.

  • http://profiles.google.com/jhancockdarwin James Hancock

    The total government debit of the governments of United States as would have to be reported by any publicly traded company is $212 TRILLION. By itself. Your numbers only record current liabilities They forget to include unfunded liabilities going forward and the delta between the funding and the payouts.

    The federal government cannot cut its way to a balanced budget. 105% of all federal taxes are spent BEFORE the government gets to vote on a budget (if they bothered). That number will hit 150% by 2020. That’s right, SS, Medicare and all other previously spoken for funds due to social welfare programs consumes more every year already than all of the money taken in. Defense, and every other discretionary spending program are all just icing on that debit cake.

    Further, and worse still, if treasury yields returned to historical averages of ~5% then 140% of all federal taxation would go to just paying the interest on the debit.

    The federal reserve is printing 80 billion a month. That 80 billion cannot go directly to the treasury, and treasury notes are at such a low interest rates the banks don’t want to lend to the treasury. So Bernanke solved that problem by allowing the banks to multiply the 80 billion by 10 (fractional reserve) and lend it to the treasury but then also multiply that 800 billion that they lent to the treasury by 10 and then lend that out. (and no there is no limit on how many times they can do this.)

    Thus as in every country that has ever printed their way out of debit, this will cause massive inflation. Real inflation numbers put this year’s inflation rate at around 12% and it’s been in the 9% range for the past 4 years. You do the math, it means in 4 years compounding, the cost of everything is 150% of what it was in 2007. This will just get exponentially worse as the money trickles down. (see Argentina with 25% inflation right now)

    And the FED doesn’t have a choice: They can either cut the money inflation, and thus bankrupt the federal government, or keep printing and cause hyperinflation and collapse the economy as hyperinflation always does. Sure, they can try a combination there-of, but the result will still be the same, it’s just a matter of how fast we go one way or another or if both happens.

    And that is to say nothing of state debit, or the derivatives that are based on a wish and a prayer which if you breath too hard will come falling down.

    We’re toast folks, just as surely as the Roman empire was in 300 AD. It’s just a matter of who is ready for the collapse.

  • pumped_up_kicks

    debt as money…our politicians have sold us out.

    • PiRat

      We voted them in, we sold ourselves out if you like.

  • Brodie Baker

    Wikipedia shows FAR more involvement overseas than just 20 countries since 1945. I wrote an article a year or so ago, and I found that the U.S. had entered more than 70 since 1980.

  • Bob

    Last I checked the derivatives bubble was over 1.6 quadrillion.

    • The_Saxon

      Where did you see this figure? I’m not being a smart-alec, I really want to know, and I’m curious what other stats and/or figures it might have. Thank you.

  • c

    Could someone give me a idea of what will happen wtchtf. maybe I could get a better idea how to prepare. Thanks

  • Francis Howard

    Jackson. I agree that Glenn`s st0ry is amazing, yesterday I bought a gorgeous Nissan GT-R: after earning $7181 thiss month and-also, $10k this past munth. with-out any question its the easiest job Ive ever done. I started this five months/ago and practically straight away made myself minimum $86 per hour. I went to this website,, cloud68dotcom

  • Lenastarlight

    Sadly, you’re probably right =(

  • Lenastarlight

    You might almost think it was a well-planned trap =/

  • tibercruz

    for the man of sin to take over this has to happen obama is just setting it all up.. just like john the babtist set up our lord jesus christ..wake up amercia

  • offfdahizzle

    you guys talk like the government will work together to create their own uprising. pfft not a chance. its like putting crabs in a bucket. we will obviously go back into tribal governments and worship the enterprise. and batman.

  • sunshine2817

    But you can just have faith that Ben Bernanke, Barack Obama and the U.S. Congress know exactly what they are doing and will be able to save us from the coming financial collapse if you want.

    The mainstream media will provide you with all of the positive economic news that you could possibly want. They are giddy about the fact that the Dow keeps hitting all-time highs and they would have us all believe that we are in the midst of a robust economic recovery. You can listen to them if you want to.

  • Johnwill

    Have you ever heard money must be funny in a rich mans world well this is some rich kunts bad joke , look at how many $0000′s you write down none of it is really real if i was incharge i would just ask the banks for a squillion bagillion zillion $ because if sumones willing to lend $100 trillion why not … the apple is just turning rotten no good in the corupt

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