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    Bob Chapman: US is creating a stealth default on its debt by continuing to issue massive amounts of money

    Mac Slavo
    May 28th, 2009
    SHTFplan.com
    Comments (5)
    Read by 109 people

    Bob Chapman, of The International Forecaster, has been predicting economic chaos since the early 2000′s (actually, since well before that, but who’s counting?). Mr. Chapman suggests that the US economy is much worse off than most Americans realize and that a totaly system collapse is in our future.

    There is going to be massive inflation and what China should be doing is dumping dollars by buying gold. They have not anticipated the fall in US stock and bond markets and the derivative bomb. American assets, including bonds, will get badly trashed. We wrote of all this in June of 2002, but no one was listening. We could not even envision the affects of mark-to-model and the worthless balance sheets of corporate America, particularly in the financial sector. Within four years and more likely in two to three years the US will default on treasury and Agency debt. That should take the dollar in USDX terms to 40. It is now just below 80. China obviously feels the yields offered on US paper on the long end are not worth the play. They have been buying bills instead in the short-term market that the Fed has to support. Today investors cannot conceive how bad this depression is going to get.

    Mr. Chapman is not alone, with well known investors like Marc Faber and Peter Schiff leaning towards the inflation/dollar collapse scenario as well. The end-game plan for the Federal Reserve is to print so much money, that our outstanding debt is easier to pay off with devalued dollars. It’s much easier to pay off $2 Trillion in debt when there is more money in the supply. This may also have the effect of taking the stock market to new levels — perhaps 15,000 or 20,000 on the Dow Jones. Sounds great, right?  The negative effects, of course, will be much higher energy, food and consumer goods prices. If the Dow Jones is at 20,000 in the next 3 years, then you can fully expect a gallon of gas to cost $8 – $10, your electricity bill to double and a loaf of bread “cheap” bread to be around $5. Your only protection, in real terms, as Mr. Chapman suggests, will be precious metals investments in gold and silver bullion, as well as precious metals mining stocks, which have performed very well during times of instability historically.

    Don’t believe that this can happen to the US dollar? No fiat currency in history has survived the test of time. None.

    Keynesian inflationism is so engrained in economic orthodoxy that it is very hard to get a dissenting view. 90% of economists and analysts work for large corporations, which more often than not are run by Illuminists. IF you speak out of line you are out of a job. That is why few disagree. We just did about 30 interviews on Fox News and we were told we would no longer be allowed on the network to speak on the Federal Reserve.

    Considering that Peter Schiff’s TV bookings in the mainstream media are down about 75% this year, we tend to believe what Mr. Chapman is saying about being banned from Fox.

    Read the full article from Bob Chapman here…

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    Author: Mac Slavo
    Views: Read by 109 people
    Date: May 28th, 2009
    Website: www.SHTFplan.com

    Copyright Information: Copyright SHTFplan and Mac Slavo. This content may be freely reproduced in full or in part in digital form with full attribution to the author and a link to www.shtfplan.com. Please contact us for permission to reproduce this content in other media formats.

     

    5 Comments...

    Vote: Click here to vote for SHTF Plan as a Top Prepper Web Site
    1. Colonial bank went bust on friday, closed down by U.S regulators. Max Keiser and Bob chapman have both predicted a bank holiday sometime in the fall….With the FDIC almost at breaking point, could the fall of Colonial cause a panic that triggers a run on banks?

      Rate This Comment: Thumb up 0 Thumb down 0

    2. I think it could happen…

      But I don’t think it would really matter per se…as the Fed/Treasury would just pump/print more money into the system.

      Now, I’m not saying that would necessarily be a good thing, but if they didn’t do something like that…

      http://www.youtube.com/watch?v=vp43dXbJ8Yg&feature=related

      Rate This Comment: Thumb up 0 Thumb down 0

    3. blowme says:

      america is going to have the greatest depression  and china is crapping about its record growth when it relies heavily on exports and demand is down. That means they are have the best internal industry in the world not relying on exports all of a sudden. The economic crisis is only warming up. just watch unemployement. That is the how you gauge recovery not but big business turning profits on cutbacks to staff. A recovery would require rising employement . Basic economics or common sense. Don`t believe the NWO masters of the universe rockafella jewish media circus.  The usa could become the former united states of america.

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    4. CLINT says:

      DONT WORRY….. THEY ARE PRINTING MONEY FOR THE SIMPLE FACT THAT….THEY CAN!
      THIS IS PROOF IN HISTORY.
      EVER SINCE “BETTON WOODS” AND NO LONGER USING PRECIOUS METALS AS A CURRENCY VALUE….
      THEY CAN VALUE AND DE-VALUE ALL YEAR LONG!
      ITS CALLED “PEOPLE CONTROLL”.
      WAKE-UP….AND TAKE A GOOD LOOK AT HISTORY…
      GAS WILL BE 20.00 A GALLON ONE DAY AND BREAD WILL BE 10.00 A LOAF…..
      THIS GOVERNMENT CONTROLLED MONEY MONOPOLY WILL ALWAYS BE HERE BECAUSE OF THE WEALTH IN THE SHUFFLE GAME…
      HOPEFULLY, WORKERS WAGES(SLAVE WAGES) WILL STAY EVEN WITH THE GOVERNMENT GAME….
      IN REALITY…..DOES A WORLD HAVE TO HAVE CURRENCY?
      I DONT THINK SO!
      MONEY IS ONLY TIN AND PAPER…..
      DICTATORS ARE AROUND THE GLOBE…..AND THEY ARE WEALTHY!

      Rate This Comment: Thumb up 0 Thumb down 0

    5. CLINT says:

      HOW CAN A BANK ROBBER BE GUILTY OF A CRIME OF;
      BANK ROBBERY….
      WHEN PRINTING MONEY AND DEVALUATION ON HARD EARNED MONEY BE LEGAL….

      THE MONETARY SYSTEM WAS PUT INTO PLACE TO CONTROLL….

      JUST AS PESTICIDES ARE USED TO CONTROLL….

      IN REALITY IF A ALIEN BEING LANDS ON EARTH AND HAS ALOT MORE LIFE THREATENING ABILITIES THAN HUMANS…..I TRULEY BELIEVE THEY WONT USE MONEY OR PRECIOUS METALS TO TAKE WHAT THEY WANT…..

      DO I SPEAK THE TRUTH…?

      Rate This Comment: Thumb up 0 Thumb down 0

     
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