By Michael Snyder, on February 10th, 2015 Over the past decade, there has been only one other time when the value of the U.S. dollar has increased by so much in such a short period of time. That was in mid-2008 – just before the greatest financial crash since the Great Depression. A surging U.S. dollar also greatly contributed to the Latin American debt crisis of the early 1980s and the Asian[...]
Tag: depression
If You Listen Carefully, The Bankers Are Actually Telling Us What Is Going To Happen Next
By Michael Snyder, on February 9th, 2015 Are we on the verge of a major worldwide economic downturn? Well, if recent warnings from prominent bankers all over the world are to be believed, that may be precisely what we are facing in the months ahead. As you will read about below, the big banks are warning that the price of oil could soon drop as low as 20 dollars a barrel, that a Greek exit from[...]
Marc Faber Warns “Frankenstein” Global Financial System To Collapse
from King World News On the heels of increased geopolitical tensions, particularly in Ukraine, and the Greeks manevering to avoid default, today legendary Marc Faber warned King World News that the “Frankenstein” global financial system is going to collapse. Eric King: “There are over one quadrillion dollars of derivatives that could melt down the global financial system.” Marc Faber:[...]
The Dollar Will Die with a Whimper, Not a Bang – James Rickards
The same force that made the dollar the world’s reserve currency is working to dethrone it. July 22, 1944, marked the official conclusion of the Bretton Woods Conference in New Hampshire. There, 730 delegates from 44 nations met at the Mount Washington Hotel in the final days of the Second World War to devise a new international monetary system. The delegates there were acutely aware that the [...]
Shocking Chart: The Global Economy Is About To Implode: ‘Inching Closer to… the Lowest Level Ever’
Mac Slavo February 5th, 2015 SHTFplan.com The Baltic Dry Index (BDI) is used by economists and stock traders alike as a leading economic indicator because it predicts future economic activity. The index tracks in US dollars and measures global supply and demand for commodity shipments among bulk carriers including raw materials like lumber, coal, metallic ores, and grains. What makes this[...]
Optimism vs Pessimisim – Martin Armstrong
by Martin Armstrong Armstrong Economics There is little doubt that we live in interesting times. However, it is not always doom and gloom. What you have to understand is there will never be any change or reform without the doom and gloom. We have to crash and burn in order to create what Joseph Schumpeter called Waves of Creative Destruction. [...] There was the Great Depression, which everyone [...]
History In the Balance: Why Greece Must Repudiate Its “Banker Bailout” Debts And Exit The Euro
by David Stockman • February 2, 2015 Now and again history reaches an inflection point. Statesman and mere politicians, as the case may be, find themselves confronted with fraught circumstances and stark choices. February 2015 is one such moment. For its part, Greece stands at a fork in the road. Syriza can move aggressively to recover Greece’s democratic sovereignty or it can desperately[...]
Lies, Damned Lies, and Central Bank Forecasts – James Rickards
by James Rickards Daily Reckoning The most dramatic battle yet in the currency wars took place last month. It was the financial equivalent of a Pearl Harbor sneak attack… “I find it a bit surprising that he did not contact me,” IMF Director Christine Lagarde told CNBC’s Steve Liesman that day, “but, you know, we’ll check on that.” You can almost imagine the conversation[...]
The World Is Now Facing The Most Frightening And Dangerous Crisis In Modern History
from King World News With continued uncertainty in global markets, today a 50-year market veteran warned King World News that the world is now facing the most frightening and dangerous crisis in modern history. He warned people not to listen to the mainstream media, which is pleading with the public to “stay the course.” John Embry: “Gold and silver prices had a spectacular day on Friday, [...]
Legendary Felix Zulauf’s Frightening Warning – World to Experience 5 Years of Brutal Crisis and Chaos
Today one of the legends in the busines, Felix Zulauf, issued a frightening warning to King World News that the world is going to experience 5 years of brutal crisis and chaos. The 20-year Barron’s Roundtable panelist also issued a dire warning about what to expect in the coming 5-year period of intense crisis and chaos. Felix Zulauf: “We have zero percent interest rates in Europe. We have[...]