Impending financial collapse-is it real?

I've been hearing about the impending crash of the dollar for 10 years now. The Euro's going to go any minute. The world will dump the dollar as its reserve currency. The derivatives speculation market will implode. Every week, it's some new peril that never quite materializes.

I wish they'd get on with it.

Don't get me wrong, I'm not looking forward to the suffering of millions of people. Every day that it doesn't happen is a blessing. But being on the edge of your seat for a decade is wearying. And when you have limited resources, like I do, you're torn between "prepping" for the aftermath of such an event and buying things you really need for the here and now.

The problem is, I don't really know if the collapse will happen, because I'm not a financial expert. (I went to a crappy college and got a "C" in economics.) And it's not like someone in the know-a banker or a stock broker-is going to say, "Yeah, dude you're all screwed." Their livelihood depends on our faith in the system.

Interestingly enough, in 2009, after the housing market bubble popped, the president of the biggest bank in our town addressed the business college in a mandatory meeting. He told us that we were the future, that the economy was nowhere as bad as the Great Depression, and that we needed to get out there and get jobs, and not "stock up on guns, gold and groceries." Those were his exact words. I wasn't even thinking like that, but when someone in authority tells me not to do something, I immediately wonder why.

So, is there anyone out there who is qualified to comment on the subject and can tell me, for certain, that there is or is not going to be a collapse soon? Maybe no one can really predict such a thing. I'd appreciate thoughtful answers, with documentation, if possible. Thank you.

reply to post by Snsoc


well even if there is no collapse we still thave the threat of North Korea firing an EMP over the entire continental USA or even the threat of an Second American Civil War or Operation Blackjack (A false flag terrorist attack the will start the North American Union)

The hard truth is that EVERY financial collapse in history was deliberate, planned, and orchestrated.



Economic Collapse -- Why It Won't Be Stopped

The double-bind is two-fold: the Power Elites can't bear to part with any of their power or wealth, so their resistance guarantees systemic collapse. The political "leadership" cannot challenge the Power Elites' grip on the nation's throat because the entire Status Quo has been co-opted/sold out and is now wedded to the Oligarchy as their guarantor of financial security.

What this leads to is a Status Quo committed to a sinking ship. The very imbalances created by a Financial Elite and the enabling Central State Central Planning doom the system, but since everyone within the Status Quo depends on it for their own slice of wealth and power, then no one dares speak up in favor of reality. Complicity is the order of the day, but complicity can't stop the ship from sinking.

www.oftwominds.com...

reply to post by Murgatroid


Problem.
Reaction.
Solution.

Works like a charm every time. Our species isn't the brightest, history repeats itself, too many people are brainwashed to see what's right in front of their face. They've been indoctrinated into defending the system that has enslaved them.

Just to respond to the OP briefly, no documenation but what is common knowledge, is that central banks around the world are launching monetary stimulus on a regular basis now despite past measures which should provide some indication of where all this is heading. Clearly there was and still isn't any resolution to the global financial crisis that hit the world four years ago.

I have a mortgage. I have to make payments. If I spend too much elsewhere I either have to borrow more to keep making payments or I default on my mortgage. Why can't the bank just keep lending me endless amounts of money to ensure I Keep up my mortgage payments so I can live a life of free spending and deficits? The answer is obvious: Because it is not sustainable.

Just because a central bank can print to infinity means little. Keep printing and it devalues the currency to such an extent that entire classes of people on fixed incomes begin getting relatively poorer. The private market lowers their investment so the state has to pick up the slack. This is what is happening in the biggest economies in the world right now. China is again seeing risky bubbles forming and the US continues to see mediocre economic growth despite roughly trillion dollar annual deficits. Japan has just launched its third round of stimulus in just four months. The Eurozone is mired in recession despite bailouts and historically low interest rates. The frequency of stimulus injections is increasing with state capital investment accelerating way beyond private investment to keep the economies going, albeit anemic and sluggish.

Can't really establish a time frame but note none of this takes into account major financial and economic shocks which will only exasperate the situaiton and make it much more harder to contain and manage from hereon. In short the current system is just not sustainable and how much longer it can remain is anyones' guess.

Yeah....Its absolutely orchestrated. Nothing happens by accident in the financial sector. It is all planned. When all is in it "correct" place, the plug will be pulled. I will give you a hint......"The NYSE was sold today"....Go down that rabbit hole and the muddy water will start to clear up.

Originally posted by starwarsisreal
reply to post by Snsoc

 

well even if there is no collapse we still thave the threat of North Korea firing an EMP over the entire continental USA or even the threat of an Second American Civil War or Operation Blackjack (A false flag terrorist attack the will start the North American Union)

edit on 20-12-2012 by starwarsisreal because: (no reason given)

You are joking right ?

These happening are as likely as Obama being a secret martian. Oh wait!

reply to post by Snsoc


Only a few people predicted the collapse of 2008 and they were ridiculed in the media extensively aand by the so called economic experts for their stance and warnings. They were Peter Schiff, Ron Paul, Gerald Celente, and Jim Rodgers and a few others. They are all predicting eminent dollar collapse now. The media is not ridiculing them this time but they are ignoring them somewhat though.

It is a mathematical certainty that it will collapse it is built into the debt based monetary system where continual debasement of the currency is mandatory for false economic growth that blows up the bubble exponentially.

More countries are dumping the dollar it is just a matter of time. and it is much closer now then ever. Ron Paul has been predicting it for 30 years and was dismissed out of hand till the 2008 crash.

It is definitely time to prepare now do not put it off any longer.

Americans and the developed world in general produced more than they consumed in recent years.And with the world market saturated by the Chinese goods there are not too many countries who can afford none Chinese! products anymore...There were times that banks could encourage people to borrow money so they could buy more unnecessary stuff to help the economy grow...But lately because of the current economy and the different life styles of many,consumerism is not as trendy as it was 20/30 years ago....People have realized that they don't really need to be surrounded by all that crap to feel happy anyways,specially when they have to work the rest of their life to pay them off....I think this plays a big role in collapsing a lot of economical powers in the future including the US and EU.

Originally posted by hawkiye
reply to post by Snsoc

 

Only a few people predicted the collapse of 2008 and they were ridiculed in the media extensively aand by the so called economic experts for their stance and warnings. They were Peter Schiff, Ron Paul, Gerald Celente, and Jim Rodgers and a few others. They are all predicting eminent dollar collapse now. The media is not ridiculing them this time but they are ignoring them somewhat though.

It is a mathematical certainty that it will collapse it is built into the debt based monetary system where continual debasement of the currency is mandatory for false economic growth that blows up the bubble exponentially.

More countries are dumping the dollar it is just a matter of time. and it is much closer now then ever. Ron Paul has been predicting it for 30 years and was dismissed out of hand till the 2008 crash.

It is definitely time to prepare now do not put it off any longer.

There were many many and many people who say the 08 recession coming. The only reason those people were "right" is because they predict the collapse of everything US related on a daily basis. So when there is a recession they claim to be right. When there is no recession they claim the the next one is due "soon".

Yes. The biggest factor is collateralized debt obligations. Last I saw there were over $750 trillion CDOs on the books, probably overvalued by a factor of at least 2:1.

The problem is if these securities are valued accurately the entire financial system implodes because the investment banks will not have enough assets on paper to meet the requirements. They will have to liquidate and call loans, driving the markets and economies into free fall.

The "impending fiscal cliff"? No. The inevitable financial collapse? Yes. Bottom line near term: we will go over the "fiscal cliff" by default if not design as no one wants to take credit for raising taxes on virtually everyone (especially the Republicans who are most reluctant to raise taxes on anyone). So....the deadline comes and various tax rates are slated to rise and then the Republicans plan to ride to the rescue with a new bill to lower (the recently raised) taxes and Obama will oblige (wanting to maintain his popularity altho the Repubs will bear most of the blame for the current failure). Longer term; however, the financial collapse (an economic collapse brought about by the burden of debt resulting in the failure of the dollar as the viable currency) is inevitable. But out of the ashes a new global economic system (new global banking governance and world currency) will arise (maybe they will replace the eagle with a phoenix...I would LOL but it isnt funny).

I'm not sure about all the trillions of dollars hidden in shadow accounts or wherever they may be.

One thing that is clear is that we can't tax and spend our way out of this mess we are in. Governments need to get lean and reduce waste while promoting policies that increase growth in their respective economies. Right now the Obama administration is making virtually no effort to reduce any spending except when he wants to open his mouth to talk about all he is doing. The senate democrats haven't wanted to deal with a budget in years. They probably see no need to curtail spending except to do little things to pacify others. Since our debt is so big and growing larger by the day and we can't tax and spend our way out nor can we cut back spending enough to get out, the Democrats and probably a lot of Republicans may be thinking it is pointless or we are helpless. I do not believe so. Our currency is gradually getting devalued. If you don't believe me, just compare the price of gold 10 years ago to today. You can also look at the price of gas and food. All were much cheaper 10 years ago.

I believe the plan is to devalue our currency with time and to grow the economy enough to get us out of the debt mess we are in. The major problem we are having is that the economy is not growing fast enough. I believe we can blame the current politicians we have in office. The nation is divided about the best way to get out of this mess and that is reflected in congress.

reply to post by Snsoc



The best thing I could tell you is look back into history. This is not the first time the world has seen this. Germany after ww1 printed a lot of money and guess what happened.



When the printed money comes out of the money supply it will cause inflation. The reason we are not seeing it yet is the banks are holding huge reserves of cash. At some point they will open the flood gates and people like me and probably you will have to get out our wheelbarrows to get a loaf of bread. If you don't understand what I am talking about look up post ww1 Weimar Germany inflation.




To be honest people are already starting to see it at the grocery store prices are going up new car loans are going out to 10 years just to get people in the latest new cars. Prices keep going up wages are slowly slipping at what point do we tip?



So YES the economy will collapse when is the big question. It will be the lowest wage earners first. They will not be able to feed themselves and this house of cards will tumble. They will try to bail them out but it will fail at some point.

Originally posted by gorgi

Originally posted by hawkiye
reply to post by Snsoc

 

Only a few people predicted the collapse of 2008 and they were ridiculed in the media extensively aand by the so called economic experts for their stance and warnings. They were Peter Schiff, Ron Paul, Gerald Celente, and Jim Rodgers and a few others. They are all predicting eminent dollar collapse now. The media is not ridiculing them this time but they are ignoring them somewhat though.

It is a mathematical certainty that it will collapse it is built into the debt based monetary system where continual debasement of the currency is mandatory for false economic growth that blows up the bubble exponentially.

More countries are dumping the dollar it is just a matter of time. and it is much closer now then ever. Ron Paul has been predicting it for 30 years and was dismissed out of hand till the 2008 crash.

It is definitely time to prepare now do not put it off any longer.

There were many many and many people who say the 08 recession coming. The only reason those people were "right" is because they predict the collapse of everything US related on a daily basis. So when there is a recession they claim to be right. When there is no recession they claim the the next one is due "soon".

Maybe you can name all these people then? No? Didn't think so because you are clueless! The people I named specifically predicted the 2008 crash and the reasons why and they are doing it again. In fact some of the media pundits apologized to Peter Schiff on live TV because he was so accurate and schooled them so well. Look up "Peter Schiff Was Right" on youtube

reply to post by hawkiye


It looks like they are trying to break without tossing everone onto the dashboard at once and very hard.

It already looks like buying a milk cow will be something many will have to do if they want milk if you follow.

Well it's certainly looking like a collapse is going to happen, when it happens is anybodies guess, but governments and central bankers are doing everything that is required to collapse the system.
They are going to print to oblivion.
But one thing that worries me the most is what will happen as a result of economic collapse, like protectionism which leads to a growing popularity of fascism, and ultimately a world war.

But on the other hand something makes me think that tptb have something up their sleeve, something that will create the biggest industrial revolution the world has ever seen.
Perhaps a new technology or energy that could revolutionise space travel and create a space mining industry.