THERE’s no easy way of writing this…..
The worst financial crash in our history is coming. It’s already overdue.
If it was me predicting this, you’d be safe enough. I can’t reliably tell you the price of cheese, let alone preach about economics.
But I research beyond the mainstream media, for their own reasons the last to tell us what is really happening, and there’s only one message.
The west is broke. Finished. It’s just a matter of time before a major organisation, or even a country, goes bankrupt. Then the fire will spread – and this time we won’t be able to put a plaster over it.
They say if America gets the flu, the UK gets a cold next day.
Well, America is the most indebted country in the history of our planet.
Forget billions, we’re talking about toxic trillions.
Jim Rogers, founder of the Quantum Fund and a close colleague of George Soros, has been calling it for years.
As Britain staggered from the effects of the ‘credit crunch’ of 2008-2009, he warned of what would inevitably happen if we took the wrong course of action.
He said a policy of propping up the Government’s ‘friends’ instead of allowing them to go bankrupt, feeling the pain and allowing other viable, competent businesses to replace them would lead to disaster.
A policy of more and more borrowing to ease a debt already spiralling out of control was doomed.
That’s exactly what the UK have done.
In human terms, we took a sticking plaster to treat a medical emergency. It bought us a little time, but the cause of the problem was always going to come back to haunt us.
That time is imminent.
We’re not talking here about an economic crisis largely confined to financial markets.
Fire will spread everywhere. Rogers is predicting millions of Americans will be wiped out by 68 trillion dollars of debt on a ‘Biblical scale’.
Dale Davidson, who predicted the dot.com crash and the last crisis, estimates the stock market will be stripped of around 50 and 70 per cent of value, housing prices will fall by 40 per cent, money itself will devalue by 30 per cent. Among the things going in the opposite direction will be unemployment and interest rates.
This time we are talking about you and I going to our cash points and finding there’s no money available. Food and water will be scarce.
There have been warnings. They’ve just been largely kept away from our ears.
German Chancellor Angela Merkel told citizens to stockpile supplies of food and water, enough for ten and five days respectively, in October last year in case of a terrorist attack or a catastrophe.
There was never going to be a ‘terrorist’ attack on that scale, she was warning about an economic collapse in the month when it was most likely to happen.
She was aware, as financial experts have confirmed, that the Deutsche Bank itself was on the brink of collapse.
More time was bought. Somehow.
But now another October is looming and the problem hasn’t gone away.
Banks in this country are writing to customers informing them that savings up to a certain level – £70k to £85k appears to be the figure – are safe in the event of problems.
Why do you think they are doing that right now?
They are preparing us for a run-in on the banks. We now live in an era of bail-ins rather than bail-outs, which as Rogers warned didn’t work.
That means it’s open season on the savings of those who have got a few bob.
The people will pay for a catastrophe caused by those high above us.
There is very little we can do to dodge the bullet.
The City of London has been at the heart of a corrupt, unstable and unsustainable financial system for decades. It has only been a matter of time before it collapsed in on itself.
This isn’t an attack on Labour – both major parties are hugely to blame for caving in to vested interests.
But Gordon Brown, the Prime Minister who ignored Rogers’ advice, did indeed oversee the end of ‘boom and bust’.
Boom is over. Instead we have merely flat lined waiting for the crash of all crashes.
THERE’s no easy way of writing this…..