Tag Archives: economy

12 Ways The Economy Is Already In Worse Shape Than It Was During The Depths Of The Last Recession

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Did you know that the percentage of children in the United States that are living in poverty is actually significantly higher than it was back in 2008?  When I write about an “economic collapse”, most people think of a collapse of the financial markets.  And without a doubt, one is coming very shortly, but let us not neglect the long-term economic collapse that is already happening all around us.  In this article, I am going to share with you a bunch of charts and statistics that show that economic conditions are already substantially worse than they were during the last financial crisis in a whole bunch of different ways.  Unfortunately, in our 48 hour news cycle world, a slow and steady decline does not produce many “sexy headlines”.  Those of us that are news junkies (myself included) are always looking for things that will shock us.  But if you stand back and take a broader view of things, what has been happening to the U.S. economy truly is quite shocking.  The following are 12 ways that the U.S. economy is already in worse shape than it was during the depths of the last recession…

#1 Back in 2008, 18 percent of all Americans kids were living in poverty.  This week, we learned that number has now risen to 22 percent

There are nearly three million more children living in poverty today than during the recession, shocking new figures have revealed.

Nearly a quarter of youngsters in the US (22 percent) or around 16.1 million individuals, were classed as living below the poverty line in 2013.

This has soared from just 18 percent in 2008 – during the height of the economic crisis, the Casey Foundation’s 2015 Kids Count Data Book reported.

#2 In early 2008, the homeownership rate in the U.S. was hovering around 68 percent.  Today, it has plunged below 64 percent.  Incredibly, it has not been this low in more than 20 years.  Just look at this chart – the homeownership rate has continued to plummet throughout Obama’s “economic recovery”…

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#3 While Barack Obama has been in the White House, government dependence has skyrocketed to levels that we have never seen before.  In 2008, the federal government was spending about 37 billion dollars a year on the federal food stamp program.  Today, that number is above 74 billion dollars.  If the economy truly is “recovering”, why is government dependence so much higher than it was during the last recession?

#4 On the chart below, you can see that the U.S. national debt was sitting at about 9 trillion dollars when we entered the last recession.  Since that time, the debt of the federal government has doubled.  We are on the exact same path that Greece has gone down, and what you are looking at below is a recipe for national economic suicide…

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#5 During Obama’s “recovery”, real median household income has actually gone down quite a bit.  Just prior to the last recession, it was above $54,000 per year, but now it has dropped to about $52,000 per year…

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#6 Even though our incomes are stagnating, the cost of living just continues to rise steadily.  This is especially true of basic things that we all purchase such as food.  As I wrote about earlier this year, the price of ground beef in the United States has doubled since the last recession.

#7 In a healthy economy, lots of new businesses are opening and not that many are being forced to shut down.  But for each of the past six years, more businesses have closed in the United States than have opened.  Prior to 2008, this had never happened before in all of U.S. history.

#8 Barack Obama is constantly telling us about how unemployment is “going down”, but the truth is that the  percentage of working age Americans that are either working or considered to be looking for work has steadily declined since the end of the last recession…

Presentation-Labor-Force-Participation-Rate-460x306

#9 Some have suggested that the decline in the labor force participation rate is due to large numbers of older people retiring.  But the reality of the matter is that we have seen a spike in the inactivity rate for Americans in their prime working years.  As you can see below, the percentage of males between the ages of 25 and 54 that aren’t working and that aren’t looking for work has surged to record highs since the end of the last recession…

Presentation-Inactivity-Rate-460x306

#10 A big reason why we don’t have enough jobs for everyone is the fact that millions upon millions of good paying jobs have been shipped overseas.  At the end of Barack Obama’s first year in office, our yearly trade deficit with China was 226 billion dollars.  Last year, it was more than 343 billion dollars.

#11 Thanks to all of these factors, the middle class in America is dying.  In 2008, 53 percent of all Americans considered themselves to be “middle class”.  But by 2014, only 44 percent of all Americans still considered themselves to be “middle class”.

When you take a look at our young people, the numbers become even more pronounced.  In 2008, 25 percent of all Americans in the 18 to 29-year-old age bracket considered themselves to be “lower class”.  But in 2014, an astounding 49 percent of all Americans in that age range considered themselves to be “lower class”.

#12 This is something that I have covered before, but it bears repeating.  The velocity of money is a very important indicator of the health of an economy.  When an economy is functioning smoothly, people generally feel quite good about things and money flows freely through the system.  I buy something from you, then you take that money and buy something from someone else, etc.  But when an economy is in trouble, the velocity of money tends to go down.  As you can see on the chart below, a drop in the velocity of money has been associated with every single recession since 1960.  So why has the velocity of money continued to plummet since the end of the last recession?…

Velocity-Of-Money-M2-460x306

If you are waiting for an “economic collapse” to happen, you can stop waiting.

One is unfolding right now before our very eyes.

But what most people really mean when they ask about these things is that they are wondering when the next great financial crisis will happen.  And as I discussed yesterday, things are lining up in textbook fashion for one to happen in our very near future.

Once the next great financial crisis does strike, all of the numbers that I just discussed above are going to get a whole lot worse.

So as bad as things are now, the truth is that this is just the beginning of the pain.


Michael T. Snyder is a graduate of the McIntire School of Commerce at the University of Virginia and has a law degree and an LLM from the University of Florida Law School. He is an attorney that has worked for some of the largest and most prominent law firms in Washington D.C. and who now spends his time researching and writing and trying to wake the American people up. You can follow his work on The Economic Collapse blog, End of the American Dream and The Truth Wins. His new novel entitled “The Beginning Of The End” is now available on Amazon.com.

Iranian Sanctions Were Bad For Business

Iran sanctions

By now you have heard that the P5 + 1 and Iranian agreement includes a path for easing out economic sanctions. Before the political pundits inject their commentary and biases for the overall tradeoff of varied interests, it would be good to assess the economic costs computed by imposing sanction on Iran as a political stick to isolate and punish the defiant regime. As the American Empire cracks under the pressure of maintaining total conflict in the Middle East, the realities that the overall world community wants a shift in policy is certainly evident in this controversial arrangement of agreement.

Proponents of incessant regional intervention pay an economic price as computed in Iran Sanctions Cost US Economy up to $175 Billion.

“A new report published by the National Iranian American Council today finds. Losing Billions – The Cost of Iran Sanctions to the U.S. Economy reveals that between 1995 and 2012, the U.S. sacrificed at least $135 billion and as much as $175 billion in potential export revenue to Iran.

These estimates reflect the loss solely from export industries, and do not include the detrimental economic effects of other externalities of Iran-targeted sanctions, such as higher global oil prices. Consequently, the full cost to the U.S. economy is likely even higher.”

Even so, serious students of the State Department know only too well, that there is little interest in promoting business, when trade interferes or conflicts with imposing a military presence. Now that the cries of outrage sound off, it would be worthwhile to examine some details and changes coming out of these long and exhausted negotiations.

U.S. Treasury Department statement on lifting Iranian sanctions provides links to scores of governments documents that have formed the bases of economic restriction on trade with Iran. Additional information on the FACTBOX-Sanctions on Iran’s oil sector lists some of the costs from the sanction policy.

“Here is a summary of the measures currently in force, which U.S. Treasury Secretary Jack Lew has estimated have cost Iran more than $160 billion in oil revenue alone since 2012:”

Interesting if the U.S. economy lost around $175 billion and the Iranians absorbed a hit of $160 billion, just what was accomplished? No doubt the Iranians suffered more because of the restrictions on imports of much needed products and goods. Obviously that was the intended purpose of slapping sanction on a country that will not accept the global governance of the corporatist model.

When the repeal of the sanctions starts taking effect; Iran will be the bigger winner. Since they have the most to gain it is clear why Iran wanted this deal. By their own estimates, Iran Targets 25-Year Inflation Low by 2017 as Sanctions Removed.

“The impact of lifting sanctions will help us follow on the path of lower inflation and stimulate economic growth,” Peyman Ghorbani, vice governor for economic affairs at the Central Bank of Iran, said in an interview at his Tehran office on Monday before news of the historic agreement emerged. “When these weights are lifted from the economy, then in all likelihood we can reach those goals much more quickly.”

Yet the most significant outcome will be seen that the Nuclear deal paves the way for return of Iran oil.

“A removal of sanctions on Iran’s oil exports would have implications for the oil market both in the short term and in the medium term. In the short term, Iran has significant oil stockpiled in tankers ready to be shipped to Europe and Asia – probably around 30m bbl according to indications. In the medium term, Iran will look to raise production by up to 1mb/d back towards full capacity and thereby permanently increase its oil exports. Iran has low production costs in the range of USD5-30/bl and the economy badly needs the additional export revenue, so Iran is not likely to hesitate in exploiting its full potential. Furthermore, its low-cost oil should have no problem competing for market share with higher cost European oil.”

A greater increase in oil will keep market pressure to maintain lower crude prices. However, the consequences of cheap oil add intense impact that the American domestic fracking industry will not turn around because of its higher cost of production.

Participants in this arrangement welcome the opportunity to pen contracts with Iran. Nonetheless, the prospects that the U.S. will engage in any meaningful business is remote. In order to work around the long established animosity towards American firms, the rush to do business through foreign subsidies will commence at full speed.

It is one thing to isolate and embargo a small country like Cuba, but it was always a foolish decision to inflict economic punishment on Iran to stem, any real or imaginary, effort to go nuke.

With the prospects of Cuban cigars coming to a smoke shop soon, is it not time to drop all the “axis of evil” rhetoric and enter into creative initiatives to build back business relationships that benefit from a pragmatic process of commerce?

American trade policy is on the precipice of imposing a corporatocracy global trade system. Abolishing the sanctions on Iran could attain mutually beneficial opportunities to conduct business that would not normally be achieved in the not to big to fail club of corporatists.

Sanctions are always a desperate attempt to force an unsympathetic regime to capitulate. It is a tactic of economic war and has no place in building a civilized society.

Political disputes that restrict and block constructive commerce keeps the doors lock for peaceful resolutions. Keeping the war machine in full deployment is counterproductive to building bridges of creating wealth among countries.

Ultra extremism from zealots is unbalanced no matter if they wearing a Burka, a Kippah Skullcap or an Armani suit. Promoting advantageous business transactions grow trust and expand good will.

It is time to inject common sense and get back to doing business with Iran and drop the “irrational exuberance” based upon NeoCon absurdity.


SARTRE is the pen name of James Hall, a reformed, former political operative. This pundit’s formal instruction in History, Philosophy and Political Science served as training for activism, on the staff of several politicians and in many campaigns. A believer in authentic Public Service, independent business interests were pursued in the private sector. As a small business owner and entrepreneur, several successful ventures expanded opportunities for customers and employees. Speculation in markets, and international business investments, allowed for extensive travel and a world view for commerce. He is retired and lives with his wife in a rural community. “Populism” best describes the approach to SARTRE’s perspective on Politics. Realities, suggest that American Values can be restored with an appreciation of “Pragmatic Anarchism.” Reforms will require an Existential approach. “Ideas Move the World,” and SARTRE’S intent is to stir the conscience of those who desire to bring back a common sense, moral and traditional value culture for America. Not seeking fame nor fortune, SARTRE’s only goal is to ask the questions that few will dare … Having refused the invites of an academic career because of the hypocrisy of elite’s, the search for TRUTH is the challenge that is made to all readers. It starts within yourself and is achieved only with your sincere desire to face Reality. So who is SARTRE? He is really an ordinary man just like you, who invites you to join in on this journey. Visit his website at http://batr.org.

Looming Greek Capitulation To Troika?

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Protracted real-life Greek tragedy appears likely to worsen, not improve. Its economy is in shambles, teetering on bankruptcy under a crushing debt burden impossible to repay and entrapment under predatory Eurozone rules denying fundamental sovereign rights.

Its people suffer hugely from force-fed austerity – more coming instead of no further amounts as Prime Minister Tsipras pledged. He’s like all the rest – promising one thing, delivering another.

Greece is a money-controlled European colony – with no sovereign rights under Troika-imposed deepening Great Depression conditions.

It’s economy is being systematically destroyed for profit – strip-mined of everything of worth. Its people are impoverished with greater pain and suffering coming. Its pensioners are asked to accept sub-poverty crumbs too inadequate to survive.

Its sick are told pay or die. Its youth generation has no future whatever. Choices for young people are resist, leave, suffer or perhaps perish with no relief in prospect.

Instead of fulfilling his campaign pledge to end austerity, Tsipras appears ready to ignore popular sentiment – OXI, no more Troika force-fed pain and suffering to enrich banksters entrapping Greece in crushing debt peonage along with other predatory investors stealing the nation blind at the expense of public needs gone begging.

In democracy’s birthplace, its population is told you have no say whatever. Its soul belongs to Brussels, Frankfurt and Washington. Predatory capitalism works this way – profiting by looting weak nations and shifting public wealth to private hands.

London Telegraph financial writer Ambrose Evans-Pritchard believes Tsipras called for a referendum he expected to lose – to justify capitulating altogether with Troika demands.

His “plan was to (give the appearance of) put(ting) up a good fight, accept honorable defeat, and hand over the keys of the Maximos Mansion (the prime minister’s residence), leaving it to others to implement (Troika austerity demands) and suffer the opprobrium.”

Things didn’t go as planned. Popular sentiment “came as a shock to the Greek cabinet,” said Evan-Pritchard. SYRIZA officials thought people would think Sunday’s vote was up or down on Grexit, what most oppose.

Earlier, “Tsipras had already made the decision to acquiesce to austerity demands,” only to learn Troika bandits “upped the ante” wanting more than he expected, said Evans-Pritchard.

They offered terms Greece couldn’t accept – “Dickensian” ones designed to destroy economies when imposed.

Tsipras is “trapped by his success.” On the one hand, total capitulation could incite popular revolt. Alternately, he appears likely to accept most austerity demands, more than he indicated earlier.

A third choice is Grexit. Evans-Pritchard believes it “lies straight ahead of him.” Former PIMCO CEO Mohamed El-Erian rates the chance at 85%. “What’s happening on the ground means the situation is slipping out of control of the politicians,” he said.

“I don’t think that’s  being factored in enough.” He’s more concerned about a “shock to risk appetite” than economic or financial contagion.

Meanwhile, Greece is cratering with banks closed, near collapse. Unemployment is growing, poverty and deprivation deepening. Human pain and suffering is the cost of a sclerotic system, doomed to fail from inception.

Greek factories aren’t operating. Small businesses are shutting down. Companies can’t pay suppliers because banks aren’t extending credit and foreign transfers are prohibited.

In a Wednesday letter to Eurogroup president Jeroen Dijsselbloem and European Stability Mechanism managing director Klaus Regling, new Greek Finance Minister Euclid Tsakalotos pledged unspecified “tax reform-related measures” (higher VAT taxes) and “pension-related measures” (reduced retirement benefits on top of earlier instituted 40% cuts).

In return, he asked for a new three-year bailout to “meet Greece’s debt obligations and to ensure the stability of the financial system.”

He said Athens “is committed to honor its (odious debt) financial obligations to all of its creditors in a full and timely manner.”

He stressed Greece’s “commitment to remain a member of the eurozone and to respect the rules and regulations as a member state.”

His letter was short of specifics. “The actual examination can only begin once the full package has been put on the table,” said hardline German Finance Minister Wolfgang Schauble.

SYRIZA has until Sunday to accommodate Troika bandits. Ignore Tsipras saying he seeks a “fair and viable solution” with creditors.

He’s given them virtually everything asked for so far. Will total capitulation be announced on Sunday or sooner – perhaps except for minor concessions too insignificant to matter?


Stephen Lendman lives in Chicago and can be reached at [email protected]. His new book is titled “How Wall Street Fleeces America: Privatized Banking, Government Collusion and Class War”. www.claritypress.com/Lendman.html Visit his blog site at www.sjlendman.blogspot.com.

Tsipras Asks For 50 Billion Euros To Continue Destructive Economic Policies

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(The Real Agenda) The referendum was a smoke screen by Tsipras to legitimize his plan to keep Greece in the euro zone under heavy austerity measures.

Athens has met at noon today the first condition to avoid its exit from the euro, and in doing so, has conceded more than anyone had ever imagined after the NO vote on Sunday.

The Greek government has already submitted an application for a third program of financial aid to the European rescue mechanism, a plan that requests 50 billion euros to supposedly take Greece and Europe out of the most acute phase of the European crisis.

With this proposal, the Greek Government makes three large concessions. The first is that before Tsipras asked for a loan as a paliative measure to hold Greece above water, but now he has called for a complete financial rescue program that will do nothing less than rescue the French and German banks while leaving the Greek people adrift.

Tsipras’ plan implies even more conditions that will be imposed by the Troika and even more evaluations. European sources explain that such evaluations may come as oftem as every 30 days.

The second concession: a rise in VAT and the reform of the pension system as early as next week. Those are some of the proposals included In Tsipras’ latest proposal sent to Europe in the form of a letter on June 30, where he had asked to delay the pension reform until October.

Third aspect in which Athens gives in to Europe is debt restructuring. In his request, Tsipras requests to put it off until the fall.

The Eurogroup of finance ministers, presided by Jeoren Dijsselbloem, will analyze the new proposal today at a meeting by teleconference.

Several conditions are still left to be negotiated before the European summit on Sunday. Greece should on Thursday the priority measures proposed, based on the proposal of last June 30.

German Chancellor Angela Merkel, made it clear yesterday that these details have to lead to a “harder” plan by Greece.

The Eurogroup will analyze it Saturday and the leaders of the euro should give their approval on Sunday. The ECB is committed to keep the Greek banking system afloat until next Monday, when the new banking takeover of Greece should be complete.

The partners are seeking a formula to avoid a default of Greece on loans provided by the ECB, whose payment will come on 20 July and whose total amount reaches 3,3 billion euros.

In exchange for many of its requests, Greece must agree to adopt priority measures suchas cuts or reforms if it wants to avoid a default. In parallel, Europe should ensure some margin for financial institutions who are nearing financial collapse due to the continued outflow of deposits.

Referendum to exit Sovereignty

Sunday’s vote in Greece has been a demonstration of democracy, except for the move by the government of Alexis Tsipras to take the new mandate to submerge Greece deeper into debt.

Sunday’s example of democracy is now being used by Tsipras to do what Europe wanted, not what the Greek people asked him to do.

Yanis Varoufakis’ exit from the government  was the sign that Tsipras would not try to deliver Greece from perpetual debt, but that he would sink it even deeper. Varoufakis was the only inconvenience left for Tsipras to negotiate with the Troika at their leisure.

The referendum was the way in which Syriza’s leader masterfully prepared the field to bring more suffering to the Greek people, to betray the trust placed in him by the Greeks.

The NO vote was a victory against external powers, an example of pride and Independence, but the Greek government has now thrown all of the Greek people’s effort out of the window.

Tsipras’ actions post referendum are clear proof that he sought to swindle his supporters into believing that a NO vote in the referendum would guarantee transparency, and a future free from a debt that was illegally placed on the Greek people by previous administrations. Merkel and Hollande also played along their roles in the plan to keep Greece chained down.

Syriza’s supporters in Spain and Latin América were also cheated. The Greek crisis went from being a defeat for the Troika and the banks to being their strongest victory now that Tispras has sought a new financial bailout of the foreign banks that hold Greece’s ilegal debt.

It had been argued that what was at stakein Greece was much more than whether Greece remained within the euro zone; whether Tsipras trips to Moscow and Chinese investment in the Greek communications system would be na alternative to Europe, but it all now sounds like geopolitical games, because the Greek government do not want to change Europe for Moscow.

The same Greek people who celebrated the NO vote on Sunday should take to the streets and demand Alexis Tsipras’ exit from the goverment as he has used his leverage to commit treason against the people that entrusted Greece’s future in his hands.


Luis R. Miranda is an award-winning journalist and the founder and editor-in-chief at The Real Agenda. His career spans over 18 years and almost every form of news media. His articles include subjects such as environmentalism, Agenda 21, climate change, geopolitics, globalisation, health, vaccines, food safety, corporate control of governments, immigration and banking cartels, among others. Luis has worked as a news reporter, on-air personality for Live and Live-to-tape news programs. He has also worked as a script writer, producer and co-producer on broadcast news. Read more about Luis.

Greece Should Not Seek A Third Bailout Of The Banks

Greece Euro

The most likely outcome from the meetings that Alexis Tsipras will hold with the Troika will be a third financial bailout of German and French banks, which would mean more austerity policies and cuts for the Greek people.

A third financial rescue is the only option that would favor both sides. It would help Greece access liquidity from the European Central Bank, avoid its exit from the eurozone and stop the impending default. The question is, for how long? Not too long, experts say.

For the eurozone it would be positive because it would allow the failed eurozone project to live another day and for its founders to keep up their message that the Euro is a solid enterprise. That is why both the French President and the German Chancellor have called for “solidarity” in the new negotiations that begin today.

While in public the leaders speak of being tough with Greece, in private it is very different.

Mending broken relations seems to be the goal of the eurozone after the Greek default to the IMF, the end of the rescue and the referendum.

That’s what will be on the table on Tuesday in Brussels as the Greek Prime Minister Alexis Tsipras and his new finance minister, Euclid Tsakalotos, will present their new proposal to access ECB emergency liquidity to banks. Anything short of that would mean the immediate exit of Greece from the eurozone. Yet, the meeting will not be easy.

The President of the European Commission, Jean-Claude Juncker, has ruled out an early agreement at the summit on Tuesday, despite the seriousness of the Greek crisis, especially on the side of the financial sector.

“I am against Greece leaving the euro,” said the head of the executive arm of the EU, although he acknowledged that there are some Member States who favor the so-called Grexit.

“In Europe, the simple answers usually are wrong: the exit of Greece is a mistake, and also an agreement today would be too simple. You need to negotiate by stages to achieve an agreement,” he said.

Only a week ago, Juncker said that the Greek referendum was all about Greece staying in the euro zone but on Monday he back tracked on his statement.

“The NO vote in Greece is not a no to Europe, it is not a NO to the euro: it is a no to a proposal that was already outdated. Tsipras has to explain what the result means,” said Juncker.

He ruled out the idea of having an agreement on Tuesday, but said that time was running out: the ECB tried to suffocate even more the Greek financial institutions just before the start of the negotiations. Meanwhile, France pressed the other partners in the euro zone in the last hours before the special summit to achieve the basis of an agreement with Greece.

Once President Francois Hollande and Chancellor Angela Merkel on Monday agreed to open the door to dialogue with Athens to prevent Greece’s exit, Hollande and several of his ministers contacted leaders of other countries to make a call to “responsibility”.

Prime Minister, Manuel Valls, said he was “convinced” that there is “the basis for an agreement”, but Paris is aware that several countries maintain very hard positions against Athens that can only be overcome if Greece has a “coherent proposal “. Valls noted that France will do “everything possible” to avoid a Greek exit.

“France is convinced that we cannot take the risk of a Greek exit from the euro area, both for economic reasons and, above all, political ones.” The exit of a country out of the single currency area would be “a risk to growth and the global economy.”

But to avoid this, Paris pressed the Greek prime minister, Alexis Tsipras, to present a proposal that is “accurate and credible”.

After hearing the “message of dignity” of the Greek people in the referendum, said Valls, Tsipras needs to exercise “responsibility” and put on the table a proposal that includes important reforms, “some proposals to end the crisis.”

At the entrance to the meeting of the Eurogroup finance ministers agreed on the need to avoid a Grexit, but the hardest opponents to negotiate, like Germany’s Wolfgang Schäuble, made it clear that Tsipras and Tsakalotos will not draw large concessions from euro partners after the resounding NO in the referendum: “A cut in the debt is not covered by the rules” said Schäuble.


Luis R. Miranda is an award-winning journalist and the founder and editor-in-chief at The Real Agenda. His career spans over 18 years and almost every form of news media. His articles include subjects such as environmentalism, Agenda 21, climate change, geopolitics, globalisation, health, vaccines, food safety, corporate control of governments, immigration and banking cartels, among others. Luis has worked as a news reporter, on-air personality for Live and Live-to-tape news programs. He has also worked as a script writer, producer and co-producer on broadcast news. Read more about Luis.

Greece Votes NO – Let The Chaos Begin…

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The result of the referendum in Greece is a great victory for freedom, but it is also threatens to unleash unprecedented economic chaos all across Europe.  With almost all of the votes counted, it is being reported that approximately 61 percent of Greeks have voted “no” and only about 39 percent of Greeks have voted “yes”.  This is a much larger margin of victory for the “no” side than almost everyone was anticipating, and it represents a stunning rejection of European austerity.  Massive celebrations have erupted on the streets of Athens and other major Greek cities, but the euphoria may not last long.  Greek Prime Minister Alexis Tsipras is promising that Greece will be able to stay in the euro, but that gives EU bureaucrats and the IMF a tremendous amount of power, because at this point the Greek government is flat broke.  Without more money from the EU and the IMF, the Greek government will not be able to pay its bills and virtually all Greek banks will inevitably collapse.  Meanwhile, the rest of Europe is about to experience a tremendous amount of pain as financial markets respond to the results of this referendum.  The euro is already plummeting, and most analysts expect European bond yields to soar and European stocks to drop substantially when trading opens on Monday morning.

Personally, I love the fact that the Greek people decided not to buckle under the pressure being imposed on them by the EU and the IMF.  But amidst all of the celebration, the cold, hard reality of the matter is that your options are extremely limited when you are out of money.

How is the Greek government going to pay its bills without any money?

How are the insolvent Greek banks going to operate without any money?

How is the Greek economy going to function without any money?

Now that the Greek people have overwhelmingly rejected the demands of the creditors, it will be very interesting to see what the EU and the IMF do.  Prior to the referendum, European leaders were insisting that a “no” vote would put an end to negotiations and would force Greece to leave the euro.

Now that the results are in, are they going to change their tune?  Because the ball is definitely in their court

“This does two things: it legitimises the stance of the Greek government and it leaves the ball in Europe’s court,” ANZ Bank analysts said in a note.

Europe either folds or Greece goes bankrupt; over to you Merkel.”

So would they actually let Greece go bankrupt?

It is going to be fascinating to watch what happens over the next few days.  Right now, Greek banks are on life support.  If the European Central Bank decides to pull the plug, they would essentially destroy the entire Greek banking system.  The only thing that can keep Greek banks alive and kicking is more intervention from the ECB.  The following comes from the New York Times

Now that Greek voters have said no to the economic demands of its international creditors, the fate of the country’s struggling banks is in the hands of the European Central Bank.

Greece’s banks, closed since last Monday because they are perilously low on cash, have been kept alive in recent weeks by emergency loans from the European Central Bank. On Monday, the central bank’s policy makers plan to convene to determine how much longer they are willing to prop up the Greek banks, now that the country has essentially said no to the unpopular dictates of the other eurozone countries.

Of much greater concern to the rest of the world is how financial markets are going to respond to all of this.  As I write this article, things already appear to be unraveling.  The following comes from CNBC

Germany’s Dax is indicated sharply lower from Friday’s close at around 4 percent, while the euro was down 2 percent against the yen as the news emerged. U.S. stocks are expected to open around 1 percent lower Monday, according to recent stock futures data.

What could be most important for those worried about contagion from the Greek crisis is how Portuguese, Spanish and Italian government bonds perform in Monday morning trade.

If these peripheral euro zone countries, often lumped in with Greece, suffer a sharp spike in yields, this could cause alarm about whether Greece leaving the currency might cause further contagion to other weaker euro zone economies.

This could potentially become a “trigger event” that unleashes a wave of financial panic all over Europe.  And once financial panic begins, it is very difficult to end.

If the EU and the IMF want to avoid a crisis, they could just give in to the new Greek government.  But that would be politically risky for certain high profile European leaders.  For instance, Angela Merkel would face a huge backlash back home if she conceded to the new Greek government now.  And other German leaders are already calling the referendum result a “disaster”

German politicians branded the result a ‘disaster’, with the country’s economy minister Sigmar Gabriel Sigmar accusing Tsipras of ‘tearing down the last bridges on which Greece and Europe could have moved towards a compromise’.

He added: ‘Tsipras and his government are leading the Greek people on a path of bitter abandonment and hopelessness.’

And the president of the European Parliament, a German, told a German radio station over the weekend that a “no” vote would almost certainly mean that the Greeks will be forced out of the euro

If after the referendum, the majority is a ‘no,’ they will have to introduce another currency because the euro will no longer be available for a means of payment,” Martin Schulz, European Parliament president, said on German radio.

That is pretty strong language, eh?

Here is yet another quote from Schulz

Without new money, salaries won’t be paid, the health system will stop functioning, the power network and public transport will break down, and they won’t be able to import vital goods because nobody can pay,” he said.

So at this point it is all up to the EU and the IMF, and in particular the focus will be on the Germans.

What will they decide to do?

Will they give in, or will they force the Greeks to leave the euro?

If the Greeks do transition from the euro to a new currency, it will be a process that takes months (if not longer).  You just can’t change ATMs, computer systems, cash registers, etc. overnight.  So a move to the drachma  would not be as simple as many are suggesting…

British firms like De La Rue, which prints 150 currencies worldwide, are believed to have been contacted with a view to providing such services.

It’s done in great secrecy to prevent currency speculation. The other big problem is the logistical challenges of switching a currency. All ATMs, computers and other machinery of commerce that bears the euro symbol will have to be adjusted. It could, and would, take months.

And if Greece does leave, it will be a massive shock for global financial markets.  Faith in the European project will be shattered, the euro will drop like a rock, bond yields all over the continent will rise to unsustainable levels and major banks all over Europe will fail.

I think that the following quote from Romano Prodi sums things up quite well

Romano Prodi, former chief of the European Commission and Italy’s ex-premier, said it is the EU’s own survival that is now at stake as the botched handling of the Greek crisis escalates into a catastrophe. “If the EU cannot resolve a small problem the size of Greece, what is the point of Europe?

Meanwhile, we should all keep in mind that a financial crisis has already erupted over in Asia as well.  Chinese stocks have lost 30 percent of their value in just the last three weeks.  In fact, the amount of “paper wealth” wiped out in China over the past three weeks is approximately equivalent to “10 times Greece’s gross domestic product”

A dizzying three-week plunge in Chinese equities has wiped out $2.36 trillion in market value — equivalent to about 10 times Greece’s gross domestic product last year.

The great financial collapse of 2015 is well underway, and it should be a very interesting week for global markets.

But no matter what happens this week, we all need to keep in mind that this is just the tip of the iceberg.

A “perfect storm” is on the way, and we all need to get prepared for it while we still can.


Michael T. Snyder is a graduate of the McIntire School of Commerce at the University of Virginia and has a law degree and an LLM from the University of Florida Law School. He is an attorney that has worked for some of the largest and most prominent law firms in Washington D.C. and who now spends his time researching and writing and trying to wake the American people up. You can follow his work on The Economic Collapse blog, End of the American Dream and The Truth Wins. His new novel entitled “The Beginning Of The End” is now available on Amazon.com.

16 Facts About The Tremendous Financial Devastation That We Are Seeing All Over The World

Greek-Disaster

As we enter the second half of 2015, financial panic has gripped most of the globe.  Stock prices are crashing in China, in Europe and in the United States.  Greece is on the verge of a historic default, and now Puerto Rico and Ukraine are both threatening to default on their debts if they do not receive concessions from their creditors.  Not since the financial crisis of 2008 has so much financial chaos been unleashed all at once.  Could it be possible that the great financial crisis of 2015 has begun?  The following are 16 facts about the tremendous financial devastation that is happening all over the world right now…

1. On Monday, the Dow fell by 350 points.  That was the biggest one day decline that we have seen in two years.

2. In Europe, stocks got absolutely smashed.  Germany’s DAX index dropped 3.6 percent, and France’s CAC 40 was down 3.7 percent.

3. After Greece, Italy is considered to be the most financially troubled nation in the eurozone, and on Monday Italian stocks were down more than 5 percent.

4. Greek stocks were down an astounding 18 percent on Monday.

5. As the week began, we witnessed the largest one day increase in European bond spreads that we have seen in seven years.

6. Chinese stocks have already met the official definition of being in a “bear market” – the Shanghai Composite is already down more than 20 percent from the high earlier this year.

7. Overall, this Chinese stock market crash is the worst that we have witnessed in 19 years.

8. On Monday, Standard & Poor’s slashed Greece’s credit rating once again and publicly stated that it believes that Greece now has a 50 percent chance of leaving the euro.

9. On Tuesday, Greece is scheduled to make a 1.6 billion euro loan repayment.  One Greek official has already stated that this is not going to happen.

10. Greek banks have been totally shut down, and a daily cash withdrawal limit of 60 euros has been established.  Nobody knows when this limit will be lifted.

11. Yields on 10 year Greek government bonds have shot past 15 percent.

12. U.S. investors are far more exposed to Greece than most people realize.  The New York Times explains…

But the question of what happens when the markets do open is particularly acute for the hedge fund investors — including luminaries like David Einhorn and John Paulson — who have collectively poured more than 10 billion euros, or $11 billion, into Greek government bonds, bank stocks and a slew of other investments.

Through the weekend, Nicholas L. Papapolitis, a corporate lawyer here, was working round the clock comforting and cajoling his frantic hedge fund clients.

“People are freaking out,” said Mr. Papapolitis, 32, his eyes red and his voice hoarse. “They have made some really big bets on Greece.”

13. The Governor of Puerto Rico has announced that the debts that the small island has accumulated are “not payable“.

14. Overall, the government of Puerto Rico owes approximately 72 billion dollars to the rest of the world.  Without debt restructuring, it is inevitable that Puerto Rico will default.  In fact, CNN says that it could happen by the end of this summer.

15. Ukraine has just announced that it may “suspend debt payments” if their creditors do not agree to take a 40 percent “haircut”.

16. This week the Bank for International Settlements has just come out with a new report that says that central banks around the world are “defenseless” to stop the next major global financial crisis.

Without a doubt, we are overdue for another major financial crisis.  All over the planet, stocks are massively overvalued, and financial markets have become completely disconnected from economic reality.  And when the next crash happens, many believe that it will be even worse than what we experienced back in 2008.  For example, just consider the words of Jim Rogers

“In the United States, we have had economic slowdowns every four to seven years since the beginning of the Republic. It’s now been six or seven years since our last stock market problem. We’re overdue for another problem.”

In Rogers’ view, low interest rates caused stock prices to increase significantly. He believes many assets are priced beyond their fundamentals thanks to the ultra-easy monetary policies by the Federal Reserve. Fed supporters argue such measures are good for investors, but Rogers takes a different view.

The Fed might tell us we don’t have to worry and that a correction or crash will never happen again. That’s balderdash! When this artificial sea of liquidity ends, we’re going to pay a terrible price. When the next economic problem occurs, it will be much worse because the debt is so much higher.”

Of course Rogers is far from alone.  A recent article by Paul B. Farrell expressed similar sentiments…

America’s 95 million investors are at huge risk. Remember the $10 trillion losses in the crash and recession of 2007-2009? The $8 trillion lost after the dot-com technology crash and recession of 2000-2003? This is the third big recession of the century. Yes, America will lose trillions again.

Especially with dead-ahead predictions like Mark Cook’s 4,000-point Dow correction. And Jeremy Grantham’s warning of a 50% crash around election time, with negative stock returns through the first term of the next president, beyond 2020. Starting soon.

Why is America so vulnerable when the next recession hits? Simple: The Fed’s cheap-money giveaway is killing America. When the downturn, correction, crash hits, it will compare to the 2008 crash. The Economist warns: “the world will be in a rotten position to do much about it. Rarely have so many large economies been so ill-equipped to manage a recession,” whatever the trigger.

Things have been relatively quiet in the financial world for so long that many have been sucked into a false sense of security.

But the underlying imbalances were always there, and they have been getting worse over time.

I believe that we are heading into a global financial collapse that will make what happened in 2008 look like a Sunday picnic by the time it is all said and done.

Global debt levels are at all-time highs, big banks all over the planet have been behaving more recklessly than ever, and financial markets are absolutely primed for a huge crash.

Hopefully things will calm down a bit as the rest of this week unfolds, but I wouldn’t count on it.

We have entered uncharted territory, and what comes next is going to shock the world.


Michael T. Snyder is a graduate of the McIntire School of Commerce at the University of Virginia and has a law degree and an LLM from the University of Florida Law School. He is an attorney that has worked for some of the largest and most prominent law firms in Washington D.C. and who now spends his time researching and writing and trying to wake the American people up. You can follow his work on The Economic Collapse blog, End of the American Dream and The Truth Wins. His new novel entitled “The Beginning Of The End” is now available on Amazon.com.

The Economic Collapse Blog Has Issued A RED ALERT For The Last Six Months Of 2015

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I have never done anything like this before.  Ever since I started The Economic Collapse Blog in late 2009, I have never issued any kind of “red alert” for any specific period of time.  As an attorney, I was trained to be level-headed and to only come to conclusions that were warranted by the evidence.  So this is not something that I am doing lightly.  Based on information that I have received, things that I have been told, and thousands of hours of research that have gone into the publication of more than 1,300 articles about our ongoing economic collapse, I have come to the conclusion that a major financial collapse is imminent.  Therefore, I am issuing a RED ALERT for the last six months of 2015.

To clarify, when I say “imminent” I do not mean that it will happen within the next 48 hours.  And I am not saying that our problems will be “over” once we get to the end of 2015.  In fact, I believe that the truth is that our problems will only be just beginning as we enter 2016.

What I am attempting to communicate is that we are right at the door of a major turning point.  About this time of the year back in 2008, my wife and I went to visit her parents.  As we sat in their living room, I explained to them that we were on the verge of a major financial crisis, and of course the events that happened a few months later showed that I was right on the money.

This time around, I wish that I could visit the living rooms of all of my readers and explain to them why we are on the verge of another major financial crisis.  Unfortunately, that is not possible, but hopefully this article will suffice.  Please share it with your friends, your family and anyone else that you want to warn about what is coming.

Let’s start with a little discussion about the U.S. economy.  Most of the time, when I use the term “economic collapse” what most people are actually thinking of is a “financial collapse”.  And we will talk about the imminent “financial collapse” later on in this article.  But just because stocks have recently been hitting all-time record highs does not mean that the overall economy has been doing well.  This is a theme that I have hammered on over and over again.  It is my contention that we are in the midst of a long-term economic collapse that has been happening for many years, that is happening as you read this article, and that will greatly accelerate over the coming months.

Let me give you just one quick example.  When an economy is healthy, money tends to circulate fairly rapidly.  I buy something from you, then you take that money and buy something from someone else, etc.  In a stable and growing economy, people generally feel good about things and they are not afraid to spend.  But during hard times, the exact opposite happens.  That is why the velocity of money almost always slows down during a recession.  As you can see from the chart below, the velocity of money has indeed gone down during every recession since 1960.  Once a recession is over, the velocity of money is supposed to go back up.  But a funny thing happened after the last recession ended.  The velocity of money continued to go down, and it has now hit an all-time record low…

Velocity-Of-Money-M2-460x306

This is the kind of chart that you would expect from a very sick economy.  And without a doubt, our economy is sick.  Even the official government numbers paint a picture of an economy that is deeply troubled.  Corporate profits have declined for two quarters in a row, U.S. exports plunged by 7.6 percent during the first quarter of 2015, U.S. GDP contracted by 0.7 percent during the first quarter, and factory orders have declined year over year for six months in a row.

If the stock market was connected to reality, it would be going down.  But instead, it has just kept going up.  As I discussed yesterday, this is a classic case of an irrational financial bubble.  If I was writing an economic textbook and I wanted to include an example of what a run up to a major financial crash looks like, it would be hard to come up with anything more ideal than what we have watched unfold over the last six months.  Just about every pattern that has popped up prior to previous stock markets crashes is happening again, and this is something that I have written about so much that many of my readers are sick of it.

And without a doubt, our financial markets are primed for a crash.

Only two times before has the S&P 500 been up by more than 200 percent over a six year time frame.

The first was in 1929, and the stock market subsequently crashed.

The second was in 2000, right before the dotcom bubble burst.

And by just about any measure that you can possibly imagine, stocks are massively overvalued right now.

For instance, just check out the chart posted below.  It comes from Doug Short, and it shows that the ratio of corporate equity prices to GDP has only been higher one time since 1950.  That was in 2000 just before the dotcom bubble burst…

The-Buffett-Indicator-from-Doug-Short-460x335

Let’s take a look at another chart.  This one comes from Phoenix Capital Research, and it shows that the CAPE ratio (cyclically adjusted price-to-earnings ratio) has rarely been higher.  In fact, the only times that it has been higher we have seen stock market crashes immediately afterwards…

CAPE-Phoenix-Capital-Research-460x233

Yale economics professor Robert Shiller is also deeply concerned about the CAPE ratio

I think that compared with history, US stocks are overvalued. One way to assess this is by looking at the CAPE (cyclically adjusted P/E) ratio that I created with John Campbell, now at Harvard, 25 years ago. The ratio is defined as the real stock price (using the S&P Composite Stock Price Index deflated by the CPI) divided by the ten-year average of real earnings per share. We have found this ratio to be a good predictor of subsequent stock market returns, especially over the long run. The CAPE ratio has recently been around 27, which is quite high by US historical standards. The only other times it has been that high or higher were in 1929, 2000, and 2007—all moments before market crashes.

But the CAPE ratio is not the only metric I watch. In my book Irrational Exuberance (3rd Ed., Princeton 2015) I discuss several metrics that help judge what’s going on in the market. These include my stock market confidence indices. One of the indicators in that series is based on a single question that I have asked individual and institutional investors over the years along the lines of, “Do you think the stock market is overvalued, undervalued, or about right?” Lately, what I call “valuation confidence” captured by this question has been on a downward trend, and for individual investors recently reached its lowest point since the stock market peak in 2000.

Other valuation indicators produce similar results.  This next chart is another one from Doug Short, and it shows the average of four of his favorite valuation indicators.  As you can see, there is only one other time when stocks have been more overvalued than they are today according to the average of his four favorite indicators, and that was just before the stock market crashed when the dotcom bubble burst…

Four-Valuation-Indicators-Doug-Short-460x335

Another one of the things that indicates that a financial bubble is happening is the level of margin debt.  Whenever margin debt has gone over 2.25% of GDP a stock market crash has always followed, and today it is far above that level.  As you can see from the chart below, there have been three major peaks in margin debt in modern U.S. history.  One was just before the dotcom bubble burst, one was just before the financial crisis of 2008, and the third is happening right now…

Margin-Debt-Doug-Short-460x335

Something else that we would expect to see prior to a major financial crisis is a decoupling of high yield debt and stocks.  This is something that happened just prior to the stock market crash of 2008, and it is happening again right now.  The following chart comes from Zero Hedge, and it demonstrates this brilliantly…

SP-500-HY-Credit-460x495

Are you starting to get the picture?

And as I discussed yesterday, the smart money is beginning to pull their money out of stocks while they still can.  According to USA Today, mutual fund investors have pulled more money out of stocks than they have put into stocks for 16 weeks in a row

In a sign of stock market nervousness on Main Street, mutual fund investors have yanked more money out of U.S. stock funds than they put in for 16 straight weeks.

The last time domestic stock funds had positive net cash inflows was in the week ending Feb. 25, according to data from the Investment Company Institute, a mutual fund trade group.

In the week ended June 17, the most recent data available, mutual funds that invest in U.S. stocks suffered net outflows of $3.45 billion, according to the ICI.

Since late February, U.S. stock funds have suffered estimated outflows of nearly $55 billion. Those net withdrawals come despite the fact the benchmark Standard & Poor’s 500 hit a fresh record high of 2130.82 on May 21 and the Dow Jones industrial average notched a fresh record on May 19.

But it isn’t just stocks that are going to crash during the next financial crisis.  Bonds are going to crash as well, but what I am concerned about most of all are derivatives.

Derivatives are going to play a starring role in the next major financial crisis.  I cannot emphasize this enough.  In fact, if you want to listen for just one word on the news that will let you know that things have started to really unravel, just listen for the word “derivatives”.  This form of legalized gambling is going to crush “too big to fail” banks all over the planet during the next major financial downturn.  The “too big to fail” banks in the U.S. alone have 278 trillion dollars of total exposure to derivatives, but they only have 9.8 trillion dollars in total assets.  To say that they are being “reckless” is a massive understatement.

For much more on the coming derivatives crisis, please see my previous article entitled “Warren Buffett: Derivatives Are Still Weapons Of Mass Destruction And ‘Are Likely To Cause Big Trouble’“.

Of course I am not the only one that is sounding the alarm about what is coming.  Just consider what some very prominent individuals have been saying recently…

Ron Paul has just released a new video in which he warned all of us to “prepare for a bear market in bonds“.

Carl Icahn says that financial markets are “extremely overheated—especially high-yield bonds“.

Max Keiser recently told Alex Jones that a great financial collapse is coming.

Martin Armstrong says that his Economic Confidence Model predicts that the “Big Bang” is coming in “2015.75“.

Jeff Berwick of the Dollar Vigilante says that “we’re getting very, very close to the next crisis collapse” and he has specifically pointed to the month of September.

James Howard Kunstler has predicted that stocks are going to “crater in Q3 as faith in paper and pixels erodes“.

Lindsey Williams recently sent out an email alert in which he warned that his elite friend has told him that “they have a World Wide Financial Collapse scheduled between September and the end of December 2015“.

Gerald Celente has warned about “the Great Panic of 2015“.

Bill Fleckenstein has said that 2015 could be the year of the “big accident“.

Ray Gano has stated that we will see a financial collapse “probably starting in the third quarter of 2015″.

Legendary investor Jim Rogers recently said that he believes that “we will see some kind of major, major problems in the world financial markets” within the next year or two.

Alex Jones recently released a video in which he explained that he recently received “two different calls” from “extremely prominent wealthy people” warning him about what is coming by the end of this year and asking him why he isn’t leaving the United States “before October”.

Bible prophecy expert Joel C. Rosenberg has posted an ominous message on his personal blog in which he warned that “something is coming” and that “we must be ready”…

I feel a tremendous sense of urgency about this column.

The United States is hurtling towards severe trouble, and the events of the past few months — and what may be coming over the next few months — grieves me a great deal.

Something is coming. I don’t know what. But we all must be ready in every possible way.

When I read what Rosenberg wrote, it struck me that it was precisely how I have been feeling too.

In my entire life, I have never had such an ominous feeling about any period of time as I have about the last six months of 2015.  Like Rosenberg, I feel a “tremendous sense of urgency”, and I feel a great need to warn as many people as I can.

And it isn’t just a financial collapse that I am concerned about.  In a previous article, I detailed seven key events that we are going to witness before the end of this September…

Late June/Early July – It is expected that this is when the U.S. Supreme Court will reveal their gay marriage decision.  Most believe that the court will rule that gay marriage is a constitutional right in all 50 states.  There are some that believe that this will be a major turning point for our nation.

July 15th to September 15th – A “realistic military training exercise” known as “Jade Helm” will be conducted by the U.S. Army.  More than 1,000 members of the U.S. military will take part in this exercise.  The list of states slated to be involved in these drills includes Texas, Colorado, New Mexico, Arizona, Nevada, Utah, California, Mississippi and Florida.

July 28th – On May 28th, Reuters reported that countries in the European Union were being given a two month deadline to enact “bail-in” legislation.  Any nation that does not have “bail-in” legislation in place by that time will face legal action from the European Commission.  So why is the European Union in such a rush to get this done?  Are the top dogs in the EU anticipating that another great financial crisis is about to erupt?

September 13th – This is Elul 29 on the Biblical calendar – the last day of the Shemitah year.  Many are concerned about this date because we have seen giant stock market crashes on the last day of the previous two Shemitah cycles.

On September 17th, 2001 (which was Elul 29 on the Biblical calendar), we witnessed the greatest one day stock market crash in U.S. history up until that time.  The Dow plummeted 684 points, and it was a record that held for exactly seven years until the end of the next Shemitah cycle.

On September 29th, 2008 (which was also Elul 29 on the Biblical calendar), the Dow fell by an astounding 777 points, which still today remains the greatest one day stock market crash of all time.

Now we are approaching the end of another Shemitah year.  So will the stock market crash on September 13th, 2015?  Well, no, because that day is a Sunday.  So I guarantee that the stock market will not crash on that particular day.  But as Jonathan Cahn has pointed out in his book on the Shemitah, sometimes stock market crashes happen just before the end of the Shemitah year and sometimes they happen within just a few weeks after the end of the Shemitah.  So we are not just looking at one particular date.

September 15th – The 70th session of the UN General Assembly begins on this date.  It is being reported that France plans to introduce a resolution which would give formal UN Security Council recognition to a Palestinian state.  Up until now, the United States has always been the one blocking such a resolution, but Barack Obama is indicating that things may be much different this time around.

September 25th to September 27th – The United Nations is going to launch a brand new sustainable development agenda for the entire planet.  Some have called this “Agenda 21 on steroids”.  But this new agenda is not just about the environment.  It also includes provisions regarding economics, agriculture, education and gender equality.  On September 25th, the Pope will travel to New York to give a major speech kicking off the UN conference where this new agenda will be unveiled.

September 28th – This is the date for the last of the four blood moons that fall on Biblical festival dates during 2014 and 2015.  This blood moon falls on the very first day of the Feast of Tabernacles, it will be a “supermoon”, and it will actually be visible in the city of Jerusalem.  There are many that dismiss the blood moon phenomenon, but we have seen similar patterns before.  For example, a similar pattern of eclipses happened just before and just after the destruction of the Jewish temple by the Romans in 70 AD.

In addition to everything above, quite a number of economic cycle theories that were developed by secular economists all point to big trouble for America between the years of 2015 and 2020.  For more on this, please see my previous article entitled “If Economic Cycle Theorists Are Correct, 2015 To 2020 Will Be Pure Hell For The United States“.

Earlier today, I publicly announced that I was issuing a RED ALERT for the last six months of 2015 on the Alex Jones radio show.  You can watch video of that interview right here.  In this article (which is about three times as long as one of my normal articles) I have only shared a small fraction of the information that has led me to issue this red alert.  But if you want to know more, and you are not afraid to really go down the rabbit hole, I would encourage you to check out a full two hour presentation that I did down in Dallas, Texas on the nightmarish years that are coming.

The period of relative stability that we have been enjoying is ending.  What comes next is going to lead us into the worst period of time in modern American history.  I wish that I was wrong about this.

But the goal is not to scare you.  My wife and I live our lives with absolutely no fear, and that is my desire for all of my readers.  There is hope in understanding what is happening and there is hope in getting prepared.  Personally, my wife and I believe that the greatest chapters of our lives are ahead of us, and I hope that you have a similar outlook.

We need a generation of people that are willing to rise up and do great things even in the midst of all the chaos and darkness that is coming.  It is when times are the darkest that the greatest heroes are needed.

So what will you choose to do when the next crisis comes?

Will you cower in fear, or will you rise up to meet the challenge?

Please feel free to tell us what you think by posting a comment below…


Michael T. Snyder is a graduate of the McIntire School of Commerce at the University of Virginia and has a law degree and an LLM from the University of Florida Law School. He is an attorney that has worked for some of the largest and most prominent law firms in Washington D.C. and who now spends his time researching and writing and trying to wake the American people up. You can follow his work on The Economic Collapse blog, End of the American Dream and The Truth Wins. His new novel entitled “The Beginning Of The End” is now available on Amazon.com.

Greek Referendum On IMF Ultimatum

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This is a test. Will the internationalist banksters force extraction of their ill-gotten interest payments to bail out their reckless derivative trades gone wrong, or will a sovereign country abandon the chains of financial elite coercion and renounce their IMF and ECB debt? Make no mistake about it, Greece has lived high on the hog for decades and has serious internal problems. There is no free ride. However, the pain from the coming default is necessary to shed the yoke of a failed European Union construct.

So when Greece Invokes Nuclear Option: Tsipras Calls For Referendum, ordinary peoples in every sector should have a voice if the financial deal being imposed upon Greece must go forward.

Well, is this not novel? Allowing citizens to voice their agreement or disapproval has the financial establishment in a tizzy. PM Tsipras lashes out, and Lew urges a deal reveals that stamping out any rebellion against the banksters orbit of dominating individual countries, covering counter party losses and keeping the debit enslavement system intact.

So when the NYT reports that Cash Withdrawals and Hoarding as Default Looms Over Greece the hysteria hype is simply designed to scare the daylights out of world markets. Drops in equities have not induced panic at this point since only an ostrich did not see the Greek confrontation with the EU coming.

Still, the WSJ warns about the coming consequences in Greece’s Banks Give Eurozone Peers Glimpse Into Abyss.

“Greek banks’ emergency funding was frozen at €89 billion by the ECB on Sunday, after having been increased by just €1 billion to €2 billion on an almost daily basis in the week until last Wednesday. That suggests the banks have been operating pretty close to the limits of what they can pay depositors.”

The world will not come to an end if Greek voters reject the EU blackmail. Quite to the contrary, an ultimate exit from the European Union would provide real relief to a country, which has been extorted to pay, not just their own government obligations, but an arbitrary quota of derivative wagers gone awry from financial institution as referenced in the essay, ‘We Are All Greeks’.

“The refusal to write down unpayable debt, by Europe’s bankrupt giant banks and governments, is the fundamental reason the economies of the whole European Union have been dead in the water for seven years. Since the 2008 financial crash, these banks have sat with @eu2 trillion of toxic real estate debt on their books, tangled in tens of trillions in derivatives contracts—unable and unwilling to lend into the European economies, through year after year of economic recession and depression. Anything suggesting bank reorganization to deal with these dead debt securities under Glass-Steagall principles, has been refused, and Europe’s bankrupt megabanks lie, like undead monsters, blocking the road to productive credit, investment, and recovery.”

Entering the picture is an option that the EU technocrats are hardly equipped to handle. Bring on the default because Russia appears to extend aid hand to Greece.

“We will support any solution on regulating the Greek debt crisis that is suggested by Greece and our European partners,” Russian Deputy Prime Minister Arkady Dvorkovich said, according to the state-run TASS news agency. “The most important things for us are investment projects and trade with Greece. If financial support is required, we will consider this question.”

Russian President Vladimir Putin’s office also said Friday that Russia would consider giving loans to Greece, adding such aid should be considered par for the course for countries that are partners. Putin’s office stressed Greece has not yet formally asked for any financial assistance from Moscow.”

There is life after a Grexit. The prospect of Greece not only leaving the EU but withdrawing from NATO should have the Brussels New World Order elites taking pause. Imagine the Russian Bear gaining a Mediterranean port as the Greek duly elected regime opts out of the imperial club.

All things possible, in the cradle of Democracy, might just start with a plebiscite to default on the EU shakedown debt.

This should be the real panic among international finance loan sharks.

Then think about the “so called” UK referendum to leave the EU. Such an effort would certainly gain steam after a successful Greek exist.

Those who doubt that the banksters cannot be defeated, just recall that more than 93 percent of voters said “no” in a referendum ballot during the Iceland’s rebellion, against the financial manipulators.

Let the great European Union fleecing unravel. With the election of Alexis Tsipras, the Greek Vote Pushes EU to Limit. Now with a public referendum scheduled, will Greeks lose their nerve?

The Guardian reports that Tsipras asks for new two year bailout.

“The Greek government today suggested a two-year agreement from the European Stability Mechanism for the full coverage of financial needs and at the same time restructuring of debt.

‘The Greek government until the end will seek a viable solution within the euro. This will be the message of NO to a bad agreement in Sunday’s referendum.”

Is this a ploy to present a credible image that salvages an about face to stay in the EU? Not likely. But the IMF creditor has no interest in taking a loss on their paper loans. The staged demonstration in favor of remaining in the EU has all the signs of a media managed by the monetary hierarchy.

Less one forget, those bond creditors scream load about default; however, these same bankers never sounded a whimper when the private GM bond holders were bypassed in the rescue of government motors.

The big difference is that the IMF banksters think of themselves as the creditor of primary claims. Now that Greece is in technical default, take the next needed step and exit the EU altogether. Break the strangle hold on the continental loan shark scheme and return to a Greek Drachma free of the illicit debit contrived by financial extortion


SARTRE is the pen name of James Hall, a reformed, former political operative. This pundit’s formal instruction in History, Philosophy and Political Science served as training for activism, on the staff of several politicians and in many campaigns. A believer in authentic Public Service, independent business interests were pursued in the private sector. As a small business owner and entrepreneur, several successful ventures expanded opportunities for customers and employees. Speculation in markets, and international business investments, allowed for extensive travel and a world view for commerce. He is retired and lives with his wife in a rural community. “Populism” best describes the approach to SARTRE’s perspective on Politics. Realities, suggest that American Values can be restored with an appreciation of “Pragmatic Anarchism.” Reforms will require an Existential approach. “Ideas Move the World,” and SARTRE’S intent is to stir the conscience of those who desire to bring back a common sense, moral and traditional value culture for America. Not seeking fame nor fortune, SARTRE’s only goal is to ask the questions that few will dare … Having refused the invites of an academic career because of the hypocrisy of elite’s, the search for TRUTH is the challenge that is made to all readers. It starts within yourself and is achieved only with your sincere desire to face Reality. So who is SARTRE? He is really an ordinary man just like you, who invites you to join in on this journey. Visit his website at http://batr.org.

Greece May Become BRICS Member

brics

In May, Russian Deputy Finance Minister Sergey Storchak invited Greek Prime Minister Alexis Tsipras to become the sixth BRICS member – joining Brazil, Russia, India, China and South Africa.

At the time, Tspiras said he was interested – giving Greece access to its $100 billion capitalized New Development Bank (NDB), aiming to break Western dominance and become one of the world’s leading lending institutions.

It’s headquartered in Shanghai – expected to begin operating in July, according to Russian Deputy Finance Minister Sergei Storchak. Indications are Russia and perhaps China are willing to help Greece financially. So far Greece hasn’t requested it.

Athens is holding talks with other BRICS members on possible membership. They’ll continue during a July 9 and 10 summit in Ufa, Russia.

Deputy Greek Defense Minister Costas Lsychos warned Greece would become a European “economy colony” if it accepts Troika demanded bailout terms.

He called them “unacceptable to our history, to our national pride and sovereignty.” Tsipras urged Greeks to vote no in this Sunday’s national referendum on Troika demanded bailout terms.

He indicated possible snap elections if popular sentiment accepts them. “If the nation wants poverty…we will respect the choice, but will not execute it,” he said Monday.

Troika strategy likely involves exacerbating crisis conditions, letting Greece default on its $1.8 billion IMF payment due June 30, reduce the euro’s value to benefit Eurozone exports, force new elections, replace SYRIZA with new governance amenable to its predatory terms, and/or use default as a reason to ease Greece out of the Eurozone – a so-called Grexit.

Troika officials have no interest in restructuring Greek debt or helping its economy recover. They have every interest in continuing to strip-mine the country of its wealth, assets and enterprises.

They want Greece serving as model for what’s intended for the rest of Europe – thirdworldizing the continent for profit, the same thing planned for America.

Meanwhile, posturing by both sides continues. Troika officials warned Greece of isolation and possible Grexit by rejecting their bailout terms.

Athens frames things as only deciding yes or no on accepting them – not on Eurozone membership. Finance Minister Yanis Varoufakis indicated a possible European Court of Justice injunction to prevent Grexit.

“The EU treaties make no provision for euro exit and we refuse to accept it,” he said. “Our membership is not negotiable.”

On Monday, huge crowds demonstrated outside parliament in Athens supporting a no vote on Troika terms. It’s hard imagining why long-suffering Greeks would vote yes for greater pain.

They’ll have little choice either way. Supporting Tsipras (by voting no) means he’ll negotiate for somewhat less increased austerity than Troika officials demand.

Voting yes means accepting indentured servitude. Grexit assures harder than ever hard times before economic recovery is possible. Remaining trapped in the Eurozone straightjacket assures none at all.


Stephen Lendman lives in Chicago and can be reached at [email protected]. His new book is titled “How Wall Street Fleeces America: Privatized Banking, Government Collusion and Class War”. www.claritypress.com/Lendman.html Visit his blog site at www.sjlendman.blogspot.com.

Troika Intends Starving Greece Into Submission

greece-euro-crisis

Eurozone, ECB and IMF officials’ treatment reveal the latest example of predatory capitalist viciousness.

Since Greece’s financial crisis erupted in 2009, imposed austerity diktats incrementally transferred its wealth, assets and enterprises to Western interests at the expense of a 25% GDP drop, mass impoverishment and unemployment (60% for youths), elimination of vital public services, and a brain drain of its best and brightest.

SYRIZA Prime Minister Alexis Tsipras promised austerity relief, caved to Troika demands, then refused further accommodation last week.

Greece is effectively bankrupt. Without bailout help, it’s unable to pay its bureaucrats and keep its economy from collapsing. At the same time, accepting greater debt peonage on Troika terms assures an endless downward cycle to oblivion.

Tsipras announced a July 5 national referendum to allow Greeks to decide up or down whether to accept or reject their demands.

Overnight Saturday, Greek parliamentarians approved holding a plebiscite. Tsipras’ motion easily passed despite opposition from pro-EU parties – notably New Democracy and Pasok.

“We exhausted every limit of concessions so there could be an agreement,” said Tsipras. “Perhaps some saw that as a weakness. The day of truth is coming for the creditors, the time when they will see that Greece will not surrender, that Greece is not a game that has ended.”

He called on all Greeks to reject the Troika “ultimatum” with a “resounding NO.” Based on his 80% approval rating, he’ll likely get it. Then what?

BBC correspondent Robert Peston close to talks said “(t)he European Central Bank is expected to end emergency lending to Greece’s banks on Sunday.”

“The country’s banks depend on the ECB’s Emergency Liquidity Assistance (ELA). Its governing council is meeting later.”

Greece will likely “announce a bank holiday on Monday, pending the introduction of capital controls.”

“Austrian Finance Minister Hans Jorg Schelling said a Grexit now “appears almost inevitable.”

Two years ago, Cyprus declared a bank holiday and instituted capital controls short-term to deal with its banking crisis. Supplies of basic goods dried up instantly because importers had no cash to pay for them. Months later, things still hadn’t returned to normal.

Cutting off Greece’s financial lifeline would cause greater duress than what Cyprus experienced. Yet relief is available by turning East, not West.

Russia and China are likely suppliers. Perhaps other BRICS countries. Staying trapped in the Eurozone straightjacket assures deepening debt peonage – an endless cycle of financial and social disaster for ordinary Greek people already suffering hugely.

Ending Emergency Liquidity Assistance (ELA) is likely Monday or Tuesday when default on a $1.8 billion IMF payment looks certain.

On Sunday, ECB board member Lorenzo Bini Smaghi said “(g)iven the uncertainty over Greece remaining in the euro, the ECB will no longer be able to supply liquidity to the Greek banks, who in turn will be unable to supply euros to their clients.”

ECB governors are meeting Sunday to decide whether to end ELA. A two-thirds governing council majority is needed to approve it.

Irish Finance Minister Michael Noonan expects a Monday bank holiday announcement. “It is not a question of waiting to see what might happen…in terms of a crisis. The crisis has commenced,” he said.

For now, things are in unchartered waters. An ECB statement said it “tried to avoid taking any steps that would push Greece out of the eurozone.”

“But the bank’s rules would make it more difficult for it to continue to support Greek banks without the prospect of an agreement with creditors.”

Troika officials are amenable to more talks without offering meaningful concessions. Whether Grexit looms remains to be seen.


Stephen Lendman lives in Chicago and can be reached at [email protected]. His new book is titled “How Wall Street Fleeces America: Privatized Banking, Government Collusion and Class War”. www.claritypress.com/Lendman.html Visit his blog site at www.sjlendman.blogspot.com.

Oh, The Lies We Are Fed

Financial Crisis_FAIL

This is an introduction to our current state of degraded economy, failing financial system and the global ponzi scheme tied to the currency that is floating around our planet.

What is happening is a convergence of events unlike the world has ever seen. The President’s Working Group on Financial Markets, also known as the Plunge Protection Team, has kept the Dow Jones Industrial Average and the S&P 500 on a continually higher moving plane for over five years. If you just look at a chart for either of these two indices you will see an approximate 30 degree angle moving from left to right. This is unnatural; this is unsustainable.

Take a look at these five year charts for the DJIA and S&P:

S&P

Screen-Shot

DJIA

Screen-Shot-2015-06-28-at-4_54_37-AM-300x250

Let’s contrast this with the Gross Domestic Product (GDP) growth over the same time period. Shouldn’t the Gross Domestic Product being moving in the same way the stock markets move? If the stock market is a representation of the companies creating the economy and the GDP is the measurement of what those companies are producing, the charts should “look” about the same, right? Well, take a look

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source: tradingeconomics.com

Does the chart measuring Gross Domestic Product (GDP) look anything like the two equities charts? Not even in the same neighborhood. How can this be? Is this a demonstration of propaganda or simply a measure of how completely oblivious the citizens of the U.S. are to the world they live? There is no denying the fact laid bare for all to see, yet, the mass of people in this country believe our economy is nothing but rainbows and blue skies as far as the eye can see.

If rigging one market is beneficial then rigging all markets must be awesome! If we turn our attention to the most important of all the markets, gold and silver, we will see just how the above markets can be rigged without anyone questioning what is happening. Gold and silver act like a kind of thermometer to measure the health of an economy based on the supply of money in the system–all money, including your current debt owed on your “credit” card. If you understand that gold and silver are money, then you understand the money has to perform in a way that reflects the economy. If the money does not reflect what is happening in the economy then everyone would see there is a major problem and the veil would be lifted exposing the truth–that our economy is on life-support and fading fast. Currently, the temperature of our economy, as measured by gold and silver, appears to be low as the prices for these two pieces of money are low. How can that be? How can the charts above, that are suppose to be representations of the U.S. economy, reflect two completely different images? Introducing gold, specifically, and it’s trusted side kick, silver.

For the past several thousand years gold has been money, it still is today, even though most Americans have no concept of this global principal. With all of the most important global markets having been determined to be rigged, in a court of law, it would make sense that the single most important measure of global economic health would be rigged as well.

See, why does the COMEX permit it? – Dr. Roberts

The COMEX is the futures market where silver is traded and the price, globally, is determined. The London Bullion Market Association (LBMA) is where the price, globally, of gold is determined.

Here is a five year chart, the same time frame as used for the GDP, DJIA and S&P above, that clearly shows the exact opposite of the above charts:

au1825nyb-300x183

How many of you have heard of QE (Quantitative Easing)? QE or Quantitative Easing, is nothing more than Orwellian double-speak for money printing. The Federal Reserve has printed well over $3 TRILLION dollars in the past six years in order to keep the too big to prosecute banks alive. These banks, that caused all the problems in 2007-2008, are still insolvent even after six plus years of receiving free money from the Federal Reserve.

So, what does this mean? Well, if you look at the lack of growth in the U.S. GDP, a measure of all goods and services produced in the U.S., you will see the truth about how poorly the economy has been doing over the past five years. While gold, a measure of the health of the economy, has been moving in downward slide. Gold, since it is a “thermometer” and measurement against the amount of paper money in the system, should be moving in an upward fashion, due to the fact that the U.S. economy has been stagnate or slipping since 2007-2008 and the fact that Federal Reserve has given the banks trillions of dollars in new money.

Where do we go from here? If you are able to see, from the information above, that something is completely out of balance then making decisions to protect yourself and your family would be prudent. Discussing with your family a strategy that fits your situation would be wise. If you have questions then you should get busy doing some research. As a suggestion a good starting point would be Mike Maloney’s “Hidden Secrets of Money – Part I” This is an excellent five part series that is simple to follow and explains how money works, why gold and silver are important to possess and will teach you in about two and half what has taken me over seven years to learn. After digesting this information you should have more questions regarding your personal situation and that is where you are going to have to begin taking action. If you begin following The Daily Coin you will be presented with solutions that will, hopefully, fit your needs. Remember, I am just a person, like you, who is trying to protect my family from what seems to be unsustainable global ponzi scheme designed to steal as much of my labor (wealth) as possible. My sole purpose for the remainder of my life is to do all I can to keep these criminals out of my living room, out of my life and out of my wallet.

Don’t forget to follow The Daily Coin on Twitter and like us on Facebook.


Rory Hall has been a daily contributor at SGTReport.com. for more than two years. He has written several original articles and interviewed some of the top precious metals professionals in the industry, as well as top preparedness specialists in the world. His YouTube Channel, The Daily Coin, was launched in February 2014 and his website TheDailyCoin.org was launched April 25, 2014. QUOTE: “As a student of monetary, financial and economic history for the past five years it has taught me to watch the markets with an open mind and a hand on my wallet.”

Expect Fireworks, Gold, Silver And Greece Referendum (VIDEO)

Greece-Debt-Crisis

Our system is corrupt to the core. The Greek people know this first hand. Sunday, Taki, GoldSilverWorlds, and me discussed what is happening in Greece right now and how the Troika, along with the Greek government have kept the citizens ignorant about expectation regarding the debt that has been issued. The upcoming referendum, scheduled for a vote on July 5, has only presented one side to the people and very few people know what Tsipras has discussed with Putin or what it means for Greece to join the BRICS.

We discuss the current state of the precious metals miners and Taki is very upbeat about what is happening and the possibilities for the miners in the coming months and years. This leads to gold and silver and what is happening with the massive short position and open interest on the CRIMEX. Taki provides us with some great insight as what has happened and what may happen within the next few months. Let the fireworks begin!!

 

Don’t forget to follow Don’t forget to follow The Daily Coin on Twitter and like us on Facebook.


Rory Hall has been a daily contributor at SGTReport.com. for more than two years. He has written several original articles and interviewed some of the top precious metals professionals in the industry, as well as top preparedness specialists in the world. His YouTube Channel, The Daily Coin, was launched in February 2014 and his website TheDailyCoin.org was launched April 25, 2014. QUOTE: “As a student of monetary, financial and economic history for the past five years it has taught me to watch the markets with an open mind and a hand on my wallet.”

Does The IMF Actually Want To Cause A Greek Debt Default?

greece euro

When it comes to geopolitics, there are often wheels working within wheels that are working within wheels.  Once in a while we get a peek behind the scenes, but for the most part the machinations of the global elite remain shrouded in mystery most of the time.  And sometimes the global elite appear to be doing things that, on the surface, do not seem to make much sense at all.  What is going on in Europe is a perfect example of this.  If everyone was negotiating honestly, I believe that a Greek debt deal would have been reached by now.  As this endless crisis has stretched on month after month, it has become increasingly apparent that more is going on here than meets the eye.  In particular, the IMF has been standing in the way of a deal time after time.  So what do IMF officials want?  Are they looking for the “unconditional surrender” of this new Greek government in order to send a message to other governments that would potentially defy them?  Or could it be possible that the IMF actually wants a Greek debt default for some other insidious reason?

When the latest Greek proposal was embraced with enthusiasm by EU officials, many hoped that this meant that the crisis would soon be resolved.  But it turns out that there is still one very important player that is not happy, and that is the IMF.  The following comes from the Wall Street Journal

But the IMF is still unhappy with key aspects of Greece’s new economic proposals and German officials were irritated by the speed with which the commission welcomed them, warning that much work needs to be done.

Greece’s plan calls for reducing the deficits in its pension system and government budget by relying heavily on raising taxes and social-security contributions, whereas the IMF wanted bigger spending cuts.

The Washington-based IMF has said Greece’s economy is already too heavily taxed and that too many additional tax increases would hurt economic growth, making it harder to pay down Greece’s debt.

It is still short of everything that should be expected,” IMF Managing Director Christine Lagarde said Monday, suggesting Greece will have to modify its proposals significantly to win the IMF’s backing.

So what would make the IMF “happy”?

Would anything short of total capitulation by the Greek government suffice?

Meanwhile, members of Syriza are expressing a high level of frustration with the compromises that Greek Prime Minister Alexis Tsipras has already agreed to.  At this point, there is even doubt whether the current Greek proposal could get through the Greek parliament.  The following comes from Bloomberg

Greek Prime Minister Alexis Tsipras is facing the first signs of dissent within his own party over his latest plan to end a five-month standoff with creditors.

Some of Syriza’s more radical and populist lawmakers expressed opposition Tuesday to the proposal as the deal’s backers called on members to see the bigger picture.

Personally, I cannot support such an agreement that is contrary to our election promises,” Dimitris Kodelas, a Syriza lawmaker associated with former Maoists, said in an interview. “I do not care about the consequences of my decision.

Despite all of the optimism that we have seen this week, the odds of a Greek debt deal getting pushed through are looking slimmer by the day.

And even if a deal somehow miraculously happens, all it would really mean is that the can has been kicked down the road for a few more months

Assuming Tsipras can force the deal through the Greek parliament, and that key creditors such as the IMF and Germany accept it too, it will do little more than buy time for negotiations on yet another rescue.

The final tranche of cash from the existing bailout should be enough to meet repayments due to the IMF and European Central Bank through the end of August. But the Greek government will then have to find more than two billion euros for both institutions in September and October.

If this week concludes with agreement between Greece and its creditors, it won’t be long before the next chapter in this drama,” said Angus Campbell, senior analyst at FxPro.

And no matter what happens by the end of this month, it is a virtual certainty that the economic depression in Greece will just continue to deepen.

At this point, normal economic activity in the nation has pretty much ground to a halt.  Just consider the following excerpt from a recent Zero Hedge article

“Business-to-business payments have almost been paused,” one Athens businessman says. “They are just rolling over postdated cheques.”

For Greek banks, mortgage loans left unserviced by strategic defaulters have become a particular headache, especially since the Syriza-led government says it is committed to protecting low-income homeowners from foreclosures on their properties

“There’s a real issue of moral hazard . . . Around 70 percent of restructured mortgage loans aren’t being serviced because people think foreclosures will only be applied to big villa owners,” one banker said.

For a long time, I have been warning that the next major economic crisis would begin in Europe before spreading across the entire globe.

Greece has a relatively small economy, but Italy, Spain and France are going down the exact same road that Greece has gone.

And what IMF officials are doing right now is that they are setting a precedent for future debt negotiations that they know are almost certainly coming with other countries in the future.

Sadly, most of my readers (being Americans) don’t really grasp the importance of what is going on over in Europe.  We are watching a horrific train wreck unfold in slow-motion, and what is going to happen over the next few weeks is going to have massive implications for the entire planet.


Michael T. Snyder is a graduate of the McIntire School of Commerce at the University of Virginia and has a law degree and an LLM from the University of Florida Law School. He is an attorney that has worked for some of the largest and most prominent law firms in Washington D.C. and who now spends his time researching and writing and trying to wake the American people up. You can follow his work on The Economic Collapse blog, End of the American Dream and The Truth Wins. His new novel entitled “The Beginning Of The End” is now available on Amazon.com.

The Greek Bank Holiday: This Is What An Economic Collapse Looks Like

greek banks on holiday

A “bank holiday” sounds like such an innocuous thing, doesn’t it?  Playful, a well-deserved rest, maybe even fun. If you’d like to learn more about the fun of such a holiday, look no further than the streets of Greece, where people have been informed the banks will be closed for the next week. Why? Because the European Central Bank has stopped sending in the money that was keeping the Greek financial system afloat. Had people been able to go to the bank and withdraw their money, the banks would be unable to function. So, the banks said, “Nope, you can have $60 if you want to wait in line for long enough to get it.” Yes, you’re understanding this correctly: the banks are keeping afloat using the money from people’s accounts. The Greek stock markets did not reopen today. This is a last-ditch effort from the Greek government to prevent total economic collapse. The situation there is dire, and much like Venezuela, it’s a case study for anyone who believes that an economic collapse of our own financial system is imminent here in America. We need to pay attention to what’s going on in Greece. This is what a real economic collapse looks like. It isn’t a Mad Max scenario or a scene from some other post-apocalyptic movie. It’s quiet desperation, long lines, and a sick feeling in the pit of your stomach as you wonder how you’ll feed your kids and keep a roof over their heads. It’s the discovery that you thought you had been doing the right thing financially, but you were deceived. It’s the realization that everything you worked for your whole life is gone, The lesson in one sentence: if you don’t have your money in your hand, you’d better have tangible assets like a pantry full of food and the supplies needed for complete self-reliance.

Here’s how it affects the citizens of Greece

First of all, this article isn’t about the poor financial decisions of the Greek government, whether social aid programs should exist, or if a bailout should have occurred in the first place. It’s about the real-life ramifications of an economic collapse on ordinary citizens who depend on fiat currency, consumer goods, and the availability of their wages when they need them. A decree published by Greek Prime Minister Alex Tsipras cited “the extremely urgent and unforeseen need to protect the Greek financial system and the Greek economy due to the lack of liquidity caused by the Eurogroup’s decision on June 27 to refuse the extension of the loan agreement with Greece.” The following restrictions will be in place:

  • All banks are closed until July 6
  • ATM withdrawals are limited to 60 Euros per day (the equivalent of about $60 USD)
  • People using bank cards from other countries will not be limited to 60 Euros per day (so this won’t affect tourists aside from the long lines.)
  • The Athens stock exchange is closed today.
  • Pensions and wages will be unaffected – which means they’ll still be electronically deposited into the accounts that no one can access.
  • Debit and credit card payments will continue to work.
  • Online transactions within the country will continue to work
  • Foreign transactions will be prohibited without Ministry of Finance approval
  • Urgent expenditures ““necessary to safeguard a public or social interest” must be approved by a banking commission
  • Interest surcharges for this week are prohibited
  • Banks that break these rules will be charged a fine of 10% of the value of the transaction

The statement issued by the prime minister allows for the bank holiday period to be shortened or extended by his discretion.

Greeks are scrambling to stock up on food and fuel.

Despite the fact that Greece has been clinging to the lifeline cast to them by the European Central Bank for several years now, people are still hit hard by the bank closures.  It’s easy to say, “Why on earth do they have money in the bank?” However, their system is much like ours – it’s nearly impossible to function without a bank account. For example, pension payments and wages are nearly all paid by automatic deposits directly into one’s bank account. If you have a car payment or a mortgage payment, it comes out of your bank account – you don’t go and pay cash for it. The system is designed so that access to your money is not your own. An article on Zero Hedge featured Tweets with photos of the long lines for grocery stores, ATM machines, and fuel stations as people desperately try to turn their Euros into tangible assets.

This is affecting stock markets everywhere.

This isn’t just a problem that affects Greece. Stock markets across the globe are plummeting in the aftermath of the bank holiday. In London, the FTSE dropped by 2%.  The French and German markets dropped by 4%, and the European banking shares dropped by a hefty 10%. Tokyo lost 3% and Hong Kong dropped by 2.5%. Michael Hewson, chief markets analyst at CMC Markets UK, said we can expect the effects to be far-reaching. “The Greek butterfly looks set to cause a tornado in financial markets.  In the process we could well also find out if this event turns out to be the equivalent of the butterfly flapping its wings in New Mexico, going on to cause a hurricane in China.” This far-reaching effect is probably because Greece can be expected to default on $1.77 billion dollars in debt to the IMF.

What we can learn from the collapse of the Greek economy

If you’ve been paying attention to the goings-on in Greece, you probably recall the 2010 riots, when a harsh austerity program was introduced as part of the terms of a bailout from the IMF (International Money Fund) the European Commission, and the European Central Bank (ECB). In actuality, the country has been floundering financially since 2007, when their first recession hit. This most recent crisis has occurred because the bailout money, which was divided into four major payments, may not be continued, which will result in massive debt defaults. Does any of this seem familiar? Our own government has been working on a deficit for may years, except instead of taking money from loan sharks entities like the IMF, our government has opted to just print more up and pretend it’s backed by something besides dreams and fairy dust. If things progress on our current route, what you’re seeing in Greece right now could be our future. And not a distant 20-years-down-the-road future. Our near future. How do you prepare for something like this? Well, first things first, you don’t leave your money in the bank. It’s perfectly understandable to have your paychecks deposited and your payments withdrawn, but once your bills are paid, the rest of it needs to come out. Then, keep enough on hand to meet your bills for a few months and invest the rest in tangible assets like preps, tools, and information. I personally don’t keep more than the bare minimum needed for monthly bills in the bank. I have a serious mistrust of these establishments, especially after what we witnessed a couple of years ago in Cyprus when the government there took money directly from people’s accounts, triggering panic and bank runs across Europe. We aren’t protected here in the United States either – it is blatant that the banking industry is setting us up for the potential of a similar situation. Deposit accounts are no longer legally protected and the Federal Reserve passed a policy that in the event of an economic crisis (think “bank run) that accounts can be frozen to preserve the liquidity of the banks. All of this seems to point in the direction of what we’re seeing in Greece, doesn’t it? It seems like the game pieces are being moved around the chessboard to be able to legally seize or control whatever you have in the bank. Most folks who are paying attention to the financial news in our country are not big fans of fiat currency, but at this point in time, it’s a necessary evil. Please don’t clog the comments section raving about the fact that cash is not real money. While I realize it is backed by nothing but happy thoughts, it’s still important to remember that in the world that exists today, government issued currency is most likely to be the unit of trade needed.  Most mortgage companies don’t accept payments in gold ingots, and your mechanic might look at you funny if you present him with a pile of silver coins to pay for a car repair. I recommend that you keep at least one month of expenses physically on hand, in cash.  This is instantly available, easily recognizable as money to those who are uniformed, and simple to trade for goods or services.

What do you need to survive the end of the consumer lifestyle?

Once you have the money set aside to keep you afloat, it’s time to go hard into preps.  Think about what you need for self-reliance: what if you could never again just go to the bank, get money, then purchase the things you need? Look no further than the collapse of Venezuela to see the items that are extremely scarce there. “What can you store?” is not the right question to ask. “What can you make?” – that’s the right question. Your focus has to be on long-term sustainability, frugality, and self-reliance.  Don’t get me wrong – a stockpile is sensible and an essential course of action. It should definitely be part of your preparedness plan. However, you need to also be ready for the time when the supplies in your well-stocked pantry are no longer available.  You need to be able to meet as many of your own needs as possible or you’ll end up being one of those people wearing dirty clothes because you can’t find laundry soap or going hungry because you can’t find any food at the stores – or can’t afford it if you can find it. You need to be ready for the end of a consumer-driven lifestyle, because quite frankly, there may soon come a day when there are no consumer goods to be had. Here are some ways to work on your self reliance:

It’s only by reducing your need for the things sold in stores that you can exempt yourself from the chaos and desperation that will erupt when or if an economic collapse situation occurs here. Knowledge and skills are among the most important things you can “collect” to prepare for an economic collapse. However, if you haven’t been at it your entire life, it’s difficult to remember everything. Create a library of references to help you in your quest for self-reliance.  These are some of my favorites:

Once you have an amount saved that is greater than your one month of cash, and once you have all the tangible preps you can store, only then should you consider investing in precious metals. Gold and silver retain their value far better than the dollar, and the metals are easily liquidated if an emergency arises and it becomes necessary to change them to fiat currency. This being said, metals are harder to spend, and it takes a little bit of effort to cash them in, so it can help deter you from spending unwisely if you tend to have difficulty saving money. Reputable companies exist that allow you to do all of your transactions online and have the metals shipped to your home, taking the hassle out of acquiring them if you happen to live in a remote area.

World events are our crystal ball

I’ve been warning specifically about this impending financial doomsday since the beginning of the year. In my New Year’s Day post, I wrote:

Not only would your money be worthless, here a few more ways the current economic trends may still affect you.

Prices will go up. We’ve seen an almost unprecedented increase in the price of food over the past couple of years, even as the quality of the food available plummets. This is due to massive droughts, early freezes, and basic cost-of-living increases.

Unemployment will continue to ripple through the country.  Those without jobs now are equal to the number of unemployed during The Great Depression. As the economy plummets, that number will almost certainly exceed the previous highs.

Obamacare mandates will continue to impoverish the middle class.  The most ill-conceived policy in history, Obamacare has increased monthly payments while decreasing coverage for nearly every person who is gainfully employed.  And, if you refuse to procure coverage through Obamacare, expect attempts to penalize you into compliance. This is adding to the unemployment rate as employers struggle to keep their doors open and drop full time staff to avoid having to pay their portion of the O-care payments.

Rents will increase.  If you don’t own your home, prepare to pay higher rent as landlords try to cover their losses of income in other sectors. Foreclosures will be on the rise, which means there will be fewer homes available.

The bottom line is, income will remain the same, decrease, or even disappear entirely for many of us.  Meanwhile, the price of darn near everything will go up.  Expect to pay more for things like keeping your utilities on, feeding and clothing your family, keeping a roof over your heads. Aside from that, those dollars you are carefully saving? They are only providing you with the illusion of security.

Bloggers like Michael Snyder and Mac Slavo concur that we are right on he edge of a crisis the likes of which our generation has never seen. Pay attention to the breaking news out of Greece. On July 5, the decision will be made whether any further bailouts will be headed their way. If none are forthcoming you can expect the bank holiday to be extended indefinitely. Also note that:

The events occurring in the European banking systems (Cyprus and Greece in particular) are a glimpse into our future. I can’t ring the warning bell any louder than this. Our way of life is about to change, and you can prepare for the new reality or be one of those desperate people in long lines, hoping for some mercy from the people who put us in this situation.


Daisy Luther is a freelance writer and editor who lives in a small village in the Pacific Northwestern area of the United States. She is the author of The Pantry Primer: How to Build a One Year Food Supply in Three Months. On her website, The Organic Prepper, Daisy writes about healthy prepping, homesteading adventures, and the pursuit of liberty and food freedom. Daisy is a co-founder of the website Nutritional Anarchy, which focuses on resistance through food self-sufficiency. Daisy’s articles are widely republished throughout alternative media. You can follow her on Facebook, Pinterest, and Twitter, and you can email her at [email protected]

The U.S. And EU Will Collapse Regardless Of Economic ‘Contagion’

circus train economic collapse

In order to understand what is really going on around the globe in terms of the collapsing economy, we must set aside false mainstream versions of reality. When it comes to the EU and its current fiscal turmoil, it is very important to, in some respects, ignore Greece entirely. That’s right; forget about all the supposed drama surrounding Greek debt obligations. Will they find a way to pay creditors? Will they default? Will they make a deal with Russia and the BRICS? Will there be last-minute concessions to save the system? It doesn’t matter. It’s all a soap opera, an elaborate Kabuki theater run by international financiers and globalists.

It is most important to remember the fundamentals. Greece will default on its debts. Period. There is no way around it. Maybe Greece makes a deal today, maybe it makes a deal tomorrow; but eventually, the country’s ability to stretch out its resources in order to meet its exponential liabilities will end. It is inevitable, and no last-minute “deal” is going to change the math at the core of it all.

Why are so many economists so worried about a little country like Greece? It’s all due to a great lie: a dishonest narrative being perpetuated by the establishment that if Greece falls, defaults or leaves the EU, this could trigger a domino effect of other nations hitting a debt wall and following suit. The lie embedded in this narrative is the claim that Greece will cause a “contagion” through the act of default.  Let’s be clear – there is no contagion. Multiple countries within the EU have developed their own debt problems in spite of Greece over the past couple of decades, not because of Greece. Each of these countries, from Italy, to Spain, to Portugal, etc. has its OWN sovereign debt disasters to deal with caused by its own fiscal irresponsibility. The only legitimate reason for a so-called contagion is the fact that these countries have been forced into socialist interdependency through the EU structure.

Never forget this: The EU is in trouble not because of Greece, but because of forced supranational interdependency. The EU by all rights should not exist, nor should any centralized supranational single currency system.

I would also point out that globalist institutions like the International Monetary Fund are highly motivated to initiate disaster in the EU, despite some people’s assumptions that the EU is some kind of representative model of globalization. It’s not. If this were the case, then the IMF would not be stiffing Greece on debt aid while continuing to help Ukraine despite Ukraine’s similar inability to pay.

Why would the globalists want a partial breakup of the EU? What would they gain from such an event? That’s easy; they gain crisis, chaos and an opportunity to present a false dialectic.

Europe is not at all representative of what globalists really want in terms of economic and political structure, no matter what many people assume. It is a, rather, a kind of facsimile; a half measure. When Europe hits the bottom of the financial abyss and the bewildered public begins asking what the hell happened, the elites will be there with an immediate explanation. They will claim that it was not the EU’s interdependency that was the problem. Instead, they will assert that the EU was actually not centralized ENOUGH. They will claim that in order for a supranational economy and currency to work, we must also have supranational governance. In other words, the system failed because it needs to be stabilized by global government.

The Fabian socialists will argue that it was the barbaric and outdated institution of national sovereignty that caused the full-spectrum crisis. They will completely gloss over the negative effects of an interdependent economic system and the fact that a lack of redundancy leaves cultures simpering and impotent. We’re all one big human village after all, so we should accept the idea that we all succeed or fail together. Free markets and individual innovation apparently have nothing to do with a thriving economic structure. What we really need is a hive mind amalgamation that turns us all into easily replaceable parts in a massive rumbling lawnmower that chews up our heritage, history and principles for the sake of some arbitrary greater good and the promise of alchemical floating cities in the sky where no one has to work anymore.

The fall of the EU is a means to an end for globalists. There is almost no nation or institution they will not sacrifice if that sacrifice can be exploited to further their goal of total global political and economic dominance. They don’t just want a completely centralized system; they want all of us to BEG them to put that system in place. They want the masses to think it was all our idea. This is the most pervasive and effective form of slavery, when the slaves are manipulated into demanding their own enslavement.  When the slaves are fooled into believing their enslavement is something to be proud of — a badge of honor in service of the collective, if you will.

The fall of the U.S. will be no different in this regard. We do not necessarily have a supranational structure like the EU. So our narrative for collapse will be slightly different, and the engineered lesson we are meant to learn will be carefully crafted.

You see, Americans are meant to play the role of the spoiled imperialists who are finally getting what we deserve, an economic punch in our tender parts. We are the new Rome, bread and circuses and all. And when the U.S. comes crashing down like Europe, the Fabians will be there yet again to admonish the greed inherent in national sovereignty and the destructive aspirations of power that must be squelched by a more evenhanded global political system. I don’t really know how many people out there realize this, but we are meant to play the bad guys in the global theater being put on by the elites. Americans are the villains, the rest of the world plays the role of innocent victim, and globalist centers like the IMF and the BIS are meant to play the heroes, coming to the rescue of humanity when all appears lost.

Our debt generation by far outmatches that of the whole of EU nations combined, a fact I outlined in Part 3 of my series One Last Look At The Real Economy Before It Implodes.  Unlike Greece, though, the U.S. has the direct option to print fiat at will in order to prolong punishment for our massive debt spending. However, as we have seen with recent market reactions to the very notion of an interest rate hike by the Federal Reserve in September, such an event will trigger extensive outflows from stock markets and herald the end of the “new normal.” Again, why would the banksters do this? Why not keep interest rates at a constant near zero?  It is not as if there is any public pressure to raise rates; in fact, it’s quite the opposite. Why is the Fed ignoring the hundreds of signals showing that the U.S. is in a recession and pushing ahead with discussion of interest rate hikes despite what one might logically conclude would be in the Fed’s best interest?

The Fed knows that the only things propping up American markets are free money and blind faith by the public that banks and government will act to stop any pain or economic suffering, should such a potential for crisis arise. When the free money is gone and that faith disappears, then we will have an epic catastrophe on our hands. The globalists within the Fed know this, and they want this – at least , they want a controlled version of this. The elites NEED the fall of the current U.S. system exactly because this will make way for the rise of what they often term the “great economic reset.”  This reset is the next stage in the plan for total global economic centralization.

This is not about contagion. There is no such thing. It is an excuse, a scapegoat designed to distract from the real problem. This is about a concerted effort over the past several decades by internationalists to maneuver Western cultures into a position of vulnerability. When people are weak and frightened, they become malleable. Social changes you would have never thought possible today become very possible tomorrow in the midst of a crisis. I believe we are now seeing the onset of the next great crisis, and the fundamentals of economy support my view. When the entire European system hangs by the thread of Greek debt and the entire U.S. system hangs by the thread of near zero interest rates and blind market faith, something is about to shatter. There is no going back from such a condition. There is only the path forward, and the path forward is not pleasant or comfortable and it cannot be ignored.

We cannot forget that crisis is in itself a distraction as well. Whatever pain we do feel tomorrow, or the next day, or the next decade, remember who it was that caused it all: the international banks and their globalist political counterparts. No matter what happens, never be willing to accept a centralized system. No matter how reasonable or rational it might sound amid the terror of fiscal uncertainty, never give the beast what it wants. Refuse to conform to the dialectic. This is the only chance we have left to get back to true prosperity. Once we cross the line into the realm of worldwide institutionalized interdependency, we will never know prosperity or freedom again.

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Brandon Smith is the founder of the Alternative Market Project, an organization designed to help you find like-minded activists and preppers in your local area so that you can network and construct communities for barter and mutual aid. Join www.Alt-Market.com today and learn what it means to step away from the unstable mainstream system and build something better. You can contact Brandon Smith at: [email protected].

Signs Of Financial Turmoil In Europe, China And The United States

 global-financial-crisis

As we move toward the second half of 2015, signs of financial turmoil are appearing all over the globe.  In Greece, a full blown bank run is happening right now.  Approximately 2 billion euros were pulled out of Greek banks in just the past three days, Barclays says that capital controls are “imminent” unless a debt deal is struck, and there are reports that preparations are being made for a “bank holiday” in Greece.  Meanwhile, Chinese stocks are absolutely crashing.  The Shanghai Composite Index was down more than 13 percent this week alone.  That was the largest one week decline since the collapse of Lehman Brothers.  In the U.S., stocks aren’t crashing yet, but we just witnessed one of the largest one week outflows of capital from the bond markets that we have ever witnessed.  Slowly but surely, we are starting to see the smart money head for the exits.  As one Swedish fund manager put it recently, everyone wants “to avoid being caught on the wrong side of markets once the herd realizes stocks are over-valued“.

I don’t think that most people understand how serious things have gotten already.  In Greece, so much money has been pulled out of the banks that the European Central Bank admits that Greek banks may not be able to open on Monday

The European Central Bank told a meeting of euro zone finance ministers on Thursday that it was not sure if Greek banks, which have been suffering large daily deposit outflows, would be able to open on Monday, officials with knowledge of the talks said.

Greek savers have withdrawn about 2 billion euros from banks over the past three days, with outflows accelerating rapidly since talks between the government and its creditors collapsed at the weekend, banking sources told Reuters.

All over social media, people are sharing photos of long lines at Greek ATMs as ordinary citizens rush to get their cash out of the troubled banks.  Here is one example

greece tweet economy

And if there is no debt deal by the end of this month, the Greek debt crisis is going to totally spin out of control and financial chaos will begin to erupt all over Europe.  But instead of trying to be reasonable, EU president Donald Tusk “has delivered an ultimatum to Greece”, and it almost appears as if EU officials are more concerned about winning a power struggle than they are about averting financial catastrophe…

EU president Donald Tusk has delivered an ultimatum to Greece, claiming the country must ‘accept an offer or default’ at an emergency summit set for Monday – in a last-ditch effort to stop the debt-stricken nation crashing out of the euro.

‘We are close to the point where the Greek government will have to choose between accepting what I believe is a good offer of continued support or to head towards default,’ Mr Tusk said today.

His comments come as Greek Prime Minister Alexis Tsipras warned that his country’s exit from the eurozone would trigger the collapse of the single currency.

‘The famous Grexit cannot be an option either for the Greeks or the European Union,’ he said in an Austrian newspaper interview.

‘This would be an irreversible step, it would be the beginning of the end of the eurozone.’

While all of this has been going on, the obscene stock market bubble in China has started to implode.  Just check out the following numbers from Zero Hedge

As the carnage began last night in China we noted the extreme levels of volatility the major indices had experienced in recent weeks. By the close, things were ugly with the broad Shanghai Composite down a stunning 13.3% on the week – the most since Lehman in 2008 (with Shenzhen slightly better at down 12.8% and CHINEXT down a record-breaking 14.99%).

Under normal circumstances, numbers like these would be reason for a full-blown financial panic over in Asia.  But these are not normal times.  Even with these losses, stock prices in China are still massively overinflated.  For example, USA Today is reporting that the median stock over in China is “trading at 95 times earnings”…

Margin debt in China has soared to a record $363 billion, according to Bloomberg, and the median stock in mainland China is now trading at 95 times earnings, which even tops the price-to-earnings multiple of 68 back at the 2007 peak.

That is absolutely ridiculous.  When a stock is trading at 25 or 30 times earnings it is overpriced.  So these numbers that are coming out of China are beyond crazy, and what this means is that Chinese stocks have much, much farther to fall before they get back to any semblance of reality.

Meanwhile, in the U.S. money is flowing out of bonds at a staggering pace.  The following quote originally comes from Bank of America

“High grade credit funds suffered their biggest outflow this year, and double the previous week (and also the biggest since June 2013). High yield outflows also jumped to $1.1bn, the biggest since the start of the year. However, government bond funds suffered the most amid the recent spike in volatility, with outflows surging to the highest weekly number on record ($2.7bn). This brings the total outflow from fixed income funds to almost $6bn over the last week, the highest since the Taper Tantrum and the third highest outflow ever.”

What this means is that big trouble is brewing in the bond markets.  This is something that I warned about in my previous article entitled “Experts Are Warning That The 76 Trillion Dollar Global Bond Bubble Is About To Explode“.

For the moment, U.S. stocks are doing fine.  But just about everyone can see that we in a massive financial bubble that could burst at any time.  Presidential candidate Donald Trump says that what we are witnessing is a “big fat economic and financial bubble like you’ve never seen before”

Yesterday during an interview on MSNBC, presidential candidate Donald Trump said he has some big names in mind for the Treasury secretary if he wins the White House. “I’d like guys like Jack Welch. I like guys like Henry Kravis. I’d love to bring my friend Carl Icahn.” He also opined on the economy and the stock market, admitting that the Fed has benefited people like him but that the economy and is in a “big fat economic and financial bubble like you’ve never seen before.

Ron Paul also believes that this financial bubble is going to end very badly.  Just check out what he told CNBC earlier this week

Despite record highs in the market, former Rep. Ron Paul says the Fed’s easy money policies have left stocks and bonds are on the verge of a massive collapse.

“I am utterly amazed at how the Federal Reserve can play havoc with the market,” Paul said on CNBC’s “Futures Now” referring to Thursday’s surge in stocks. The S&P 500 closed less than 1 percent off its all-time high. “I look at it as being very unstable.”

In Paul’s eyes, “the fallacy of economic planning” has created such a “horrendous bubble” in the bond market that it’s only a matter of time before the bottom falls out. And when it does, it will lead to “stock market chaos.”

Yes, this financial bubble has persisted far longer than many believed possible, but all irrational bubbles eventually burst.

And you know what they say – the bigger they come the harder they fall.

When this gigantic financial bubble finally implodes, it is going to be absolutely horrifying, and the entire planet is going to be shocked by the carnage.


Michael T. Snyder is a graduate of the McIntire School of Commerce at the University of Virginia and has a law degree and an LLM from the University of Florida Law School. He is an attorney that has worked for some of the largest and most prominent law firms in Washington D.C. and who now spends his time researching and writing and trying to wake the American people up. You can follow his work on The Economic Collapse blog, End of the American Dream and The Truth Wins. His new novel entitled “The Beginning Of The End” is now available on Amazon.com.