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    Rogers, Faber Say Full Scale Global Shakedown Inevitable

    Mac Slavo
    February 26th, 2010
    SHTFplan.com
    Comments (10)
    Read by 95 people

    Well known contrarian investors Jim Rogers and Marc Faber are warning that the problems in Europe, especially in Britain which has been off the news radar as of late because of Greece’s debt problems, will lead to a return of the global recession some time this year.

    The UK Pound is on the brink of a collapse which will herald a downturn worse than 2008/9, it could well happen within weeks and the British government is powerless to prevent it. And this in turn will foreshadow a global economic winter that could come before the end of 2010 and make the last two years seem like a mild spring day.

    This is the dire prediction of the legendary George Soros’ former business partner, respected billionaire financier Jim Rogers, together with millionaire investment adviser and best-selling author Dr Marc Faber and the controversial millionaire trader and coach Vince Stanzione, ahead of their keynote appearances at next month’s Global Trading Day seminar in Westminster.

    As the UK economy stands on the brink of its much heralded double dip after a dismal January and rumblings about its credit rating, as Swiss Bank UBS speculates the risk of a run on the pound*, and as sterling hit a nine month low against the dollar on Friday, the three experts – who all have reputations for making much of their fortunes from predicting and riding economic downturns – are forecasting that a currency crash and then a full scale global “shakedown” are almost inevitable.

    [source: see below]

    The signs point to these gentlemen being right, and for the last three decades they have been pretty much on the ball with major global trend changes.

    Change is certainly coming to America and the rest of the world, but it’s not the kind of change President Obama promised when he was running for the Presidency.

    UPDATE 02-26-10 9:52 AM CST:

    The original sourced article was published here, but has since disappeared from this web site. A republished copy of the press release for the Global Trading Day seminar which included the information on Faber and Rogers is located here.

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    Author: Mac Slavo
    Views: Read by 95 people
    Date: February 26th, 2010
    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.

     

    10 Comments...

    Vote: Click here to vote for SHTF Plan as a Top Prepper Web Site
    1. On the ball for the last 3 decades? This is the same Jim Rogers that predicted that ten year Treasuries would NEVER ever go below 7%.
      I take these doom and gloomers with a grain of salt.
      We got through the Great Depression and this great recession is not even close.

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    2. McNamys says:

      Seems the source has pulled the article…

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    3. McNamys, thanks for your comment. The original article was a press release published at the Press Dispensary in the UK. I believe this was mainly a piece to generate buzz about the Global Trading Day seminar to be held next month. For some reason, that press release is now gone. I have updated the post to reflect this and linked to another source where the article was republished.

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    4. W. B. says:

      Comments…..Can you advice what “global shakedown” means? 
      Thank you.

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    5. MadMarkie says:

      On the one extreme ….. we’re doomed!!! On the other extreme ….. happy days are here again!!! The truth??? As always ….. probably somewhere in the middle between the two extremes.

      My family and I really couldn’t care less. After all, there isn’t really much that the average individual can do to influence the events in the world around us one way or the other. So why worry about crap that you have absolutely no controll over?

      We always have a 60 – 90 day supply of food on hand in the pantry at all times, lots of ammo for our individual weapons, the ability to purify water to drink and a small amount of ‘hard’ currency on hand. Beyond this, there really isn’t a whole lot that we can do.

      So why worry? Life is what it is, nothing more. After all, you could go to bed tonight and never wake up again. Then you really wouldn’t have much to worry about, now would you?

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    6. BleakoEcobamics says:

      MadMarkie,

      See that’s the problem … you’re ahead of most, but the “why worry b/c there is nothing one can do and one could die tomorrow” attitude is exactly why we’re in this predicament. 

      I believe there is a lot one person can do, it all depends on your sphere of influence, and how hard you’re willing to work on said sphere.  Can you tell me that Barney Frank, or Obama, or Bush, or Faber haven’t had a big impact on a lot of people?  Eash is “only one person.”  That’s the positive side.

      On the other side, your attitude only works if you don’t have anyone depending on you.  I want to make sure my kids and family are protected from risk until they can survive on their own, and a 90 day supply of rice just won’t do that.  Neither will lots of ammo.

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    7. MadMarkie says:

      Yo BleakoEcobamics ~

      Hi! I really appreciate your well thought out response to my post.

      I think that you perhaps misunderstand our mindset. My family and I paid off our home six years ago and we don’t have any credit card debt, car payments, etc. We don’t have any monthly expenses except for our food, utilities, gas, car insurance, property taxes, etc.

      It wasn’t easy to get to this position. We don’t dress in the latest of fashion, we don’t drive brand new, expensive cars and we eat out, including fast food, perhaps 4 or 5 times a year. We eat at home and we eat simply. Our daughter and son-in-law live with us as a family unit. They do so because it helps us all to get further ahead.

      We honestly don’t expect to live much longer that 90 – 120 days when the ca-ca finally does hit the fan. People are going to start BBQing and eating their neighbors at around 30 – 45 days into any reale crash of society! Do you have any idea just how weak a grip that society has on basic civility right now? Just wait until there isn’t food on the shelves at the local grocery store!

      We like to think of ourselves as being realistic rather than simply not giving a fast-flying-frugle. We are VERY concerned about the direction our poor country is headed in. The sad fact is that it is way too late to begin to think about doing anything about it.

      Can you even begin to wrap  your mind a 12 – 14 TRILLION $ national debt? We can’t even service the interest payment without borowing moew money to do so!!! Our country has unfunded liabilities of 60 – 70 trillion dollars; Social Security and Medicare, etc.

      God Bless and good luck to you and your family; the ‘helter-skelter’ is almost here.

      P.S Don’t knock the rice & dried beans. One of our favorite meals is rice, beans and an egg tortilla; it works for breakfast,lunch or dinner. Stock up now and rotate your stock. Get some labels and put the purchase date, use a sharpie to write the date on cans. Learn to make meals with canned tuns, ham, chicken and beef. All have 3+ years of shelf life. Enjoy!

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    8. MadMarkie says:

      Sorry for the above typos; I have to start writing my posts in Word and then doing a cut and paste. Me bad!

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    9. English Teacher says:

      Comments…..”Me bad!”…Hm.  Is that cave man talk or Tarzan dialect? Does it mean ” My mistake!”?

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    10. I have a web site where I give advise on penny stocks and stocks under five dollars. I have many years of experience with these type of stocks . If their is anyone that is interested in these type of stocks you can check out my web site by just clicking my name. I would like to comment about the european debt crisis. I do not believe that we have seen the end of this thing. It appears that the issues involved are building into another type of crisis. Who knows how bad things could get from here. I believe that some kind of real resolution to these european debt problems is better than just delaying the day of judgement.

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