Many Predict US Financial Collapse in September

[chefdennis]

Aristotle in another thread asked, "Is anyone willing to discuss the reality of America's impending economic collapse? "



Well here you go buddy, i'll post this...and let the others complain about the cut and paste and ignore what the article says...but thats ok...i'll start here and say, we are toast..not quite birnt , but way past being worth anything...the gov and fed have control of the banks now, and we are seeing more and more of them close weekly....goldmen sach is manipulating the investment market with government backed deals and picking and chosing what banks/lenders will get help, are you watching CIT? The fed while it has slowed for the time being is printing worthless cash and lowering the value of the dollar all over the world....barry is spending more in 6 months then any other president, and has racked up more debt that all presidents before him combined....

the Fed was buying our own debt when because others weren't paying it fast enough...now some are that the fed is providing money to foreign central banks to pay our debt and to make it look like we are recovering an others see we are a good risk, when in reality, they are using our own money.....a shell game, nothing more....oh and speaking of "RECOVERY"....

The "queen of banking" barney franks has come out and said we are no longer to call it a "STIMULUS PLAN" (they know it ain't stimulating anything) it is now to be referred to as a recovery package.......

So, while so here buy the gov line that its working and things are getting better, they will point to the 'stock market" , lol...the fact that less people are "googling" , 'financial recession" ( that was a indicator given by a WH aid earlier this week) But they would look at the fact that the government is collecting almost 30% less in income taxes from the people, they are ok that the newly unemployed numbers aren't as high as they thought in the past few months...doesn't matter that we are pushing 10%, and will pass it within a few months, the stimulus is working as barry planned....take a look at this article, it should provide for some conversation....

Many Predict US Financial Collapse in September

July 18, 2009

depression.jpgby Charles (A Reader)

Let us contemplate the day in the near future when the consequences of financial chicanery finally outpace the ability of the governments, central banks and big media to cover up and obfuscate the truth. Many respected voices have now gone on record that September 30 or thereabouts will be that day.

Bob Chapman [Internationalforecaster.com] revealed that the US State Dept has advised embassies worldwide to stock up on a year's worth of the local currency in anticipation of collapse of the US dollar. Look for a temporary banking shutdown timed for around September 2009. As under Roosevelt, some banks won't reopen. 96% of bank reserves are currently held with the Federal Reserve who tells the banks not to loan the money, but rather to save it for further banking acquisition and consolidation. Chapman foresees a bank holiday lasting 4-5 days. Chapman thinks this first bank holiday presages a much more significant bank holiday months to years later which will involve simultaneous devaluations of multiple currencies as well as other significant changes in the banking system.

Harry Shultz [as quoted in marketwatch.com] says "Some U.S. embassies worldwide are being advised to purchase massive amounts of local currencies; enough to last them a year. Some embassies are being sent enormous amounts of U.S. cash to purchase currencies from those governments, quietly. But not pound sterling. Inside the State Dept., there is a sense of sadness and foreboding that 'something' is about to happen ... within 180 days, but could be 120-150 days."

Benjamin Fulford [http://benjaminfulford.typepad.com/benjaminfulford/] states that for almost a century the US Treasury Dept has been issuing specialized debt instruments to countries with which the US has had a trade surplus. These complex debt instruments are tailored by complex treaties. Unfortunately, the recent US Treasury funding needs exceed the willingness of these creditor nations to extend additional credit. Fulford writes, "The problem is that after nearly a century of issuing these debt instruments, the chickens are coming home to roost. President Obama tried at the recent G8 plus 5 meeting in Italy to borrow more money than George Bush junior did in 8 years. He was told a resounding no. The result should be total economic chaos in the U.S. by September 30th . "

Jim Willie [golden*******.com] writes of an Asian led initiative ending dollar hegemony beginning this weekend. Willie suspects that the Fed/Treasury is covertly loaning foreign central banks the money with which the central banks are now using to buy US debt. Increasingly, US debt is being bought by foreign central banks taking up the slack of investors abandoning US Treasury debt. Willie confirms Chapman's comments and says he solicited and received "multiple confirmations." He adds, "CHAOS WILL PREVAIL WITHIN SEVERAL MONTHS, PERHAPS A YEAR AT MOST{his emphasis}."

Jim Sinclair [jsmineset.com] has recently visited China meeting with its leaders. He states that China is increasingly more willing to take on the United States in its apparent maneuvers to inflate its way out of its debt crisis. In early July Sinclair started a 120 day countdown till breakdown of the US dollar ends market manipulation and all those sour economic chickens come home to roost.

OUT OF TRICKS

Seemingly the Federal Reserve/US Treasury have exhausted their bag of tricks. The Fed is fighting rising interest rates, a difficult task given the hyperinflationary debt financing it is now doing. Once rising pressure on interest rates become too much for the Fed to control, there will probably be several sudden economic and financial surprises cascading with currently known dilemmas: crashing dollar; increasing home mortgage defaults; commercial mortgage defaults reaching critical mass; falling bond and stock markets extending insolvency of pension funds; defaults on debt by state and local governments. And don't forget derivatives and further exposure of corruption and criminality on Wall Street. Bernie Madoff may soon have lots of company.

Unable to produce any more financial wizardry, the cynical federal government is arrayed in full battle dress uniform: 1] Mass forced swine flu vaccinations scheduled this fall performed under the specter of martial law; 2] Rumblings of extending the wars in Asia into Iran and Pakistan; 3] Rekindling the Korean conflict may also be in the cards. Of course, don't forget that both Iran and North Korea are client states of the British World Order. All the recent saber rattling involving Iran and North Korea is wholly orchestrated. We need the distractions from the economic crisis, so our clients Ahmadinejad and Kim provide us with the necessary theater. So what will come first, further banner headlines of dollar collapse and market crashes or the distracting theater of more war or 911 type events?

What will this fall really bring? It is not too far away so we shall soon know. Unfortunately, it may make last fall look pretty tame. When the government answers economic distress by preparing for the worst, then the worst may very well be what happens.

So yea i will agree that no oe knows a time or date and that predictions are all over the place, but people with alot more smarts then me believe this is coming and coming soon....guess we will just have to wait and see won't we.....

 

[OntarioVanMan]

and without cutting and pasting....Have read articles claiming the opposite....like you said no one really knows for sure about anything....I for one am glad some of these banks are getting the axe....far too many...like you guys say there is no money around to support them all....let competition rule....don't need a bank on every corner....

 

[chefdennis]

I wonder how many of these type pf people are out there? They aren't "unemployed, they just aren't gettin paid when they are suppose to:

Pennsylvania withholds July pay

State freezes workers' pay for July as budget impasse continues. Two other states have yet to approve budgets, while California closes in on deal to close $26 billion deficit.


By Tami Luhby, CNNMoney.com senior writer
Last Updated: July 17, 2009: 11:38 PM ET

NEW YORK (CNNMoney.com) -- Pennsylvania state workers' paychecks are a little light these days.

Struggling to resolve a 17-day-old budget impasse, Pennsylvania is withholding pay for 69,000 state employees for time worked after July 1. Workers Friday received only 70% of their salary, covering days worked in June. Starting two weeks from now, they'll get nothing on payday until a state budget is approved.


http://money.cnn.com/2009/07/17/news...e_budget_woes/

But its all good, we don't have to worry about anything...we here are working!!!

 

[greg334]

They have it wrong. The biggest thing to worry about is commercial debt and the refinancing of the debt. We can't do it at this present time and a lot of things come due at the end of August.

Without any ability to refinance the debt, businesses will stop in their tracks.

As far as the states go, let them fail. Most of the problems are cause by over extending themselves with these rich social programs and when ever they cut things, it is the basics that get cut - welcome to Michigan where we have no cops on patrol.

 

[layoutshooter]

But we feel the "pain" of crime victims. That is ALMOST as good as protecting them or catching the bums that "do the deeds" Michigan is GREAT, is it not?