Self-made billionaire and founder of Sprott, Inc. and Sprott Asset Management, Eric Sprott, gave a dire warning about the state of the system that makes clear the globe is hinged on little more than a little Dutch boy with his finger in the dyke.
Obviously, with a crack in the dam, the flood can’t be held back forever.
In an audio interview with King World News that can be heard here, Eric Sprott made clear that the central banks are the only ones holding up the illusion.
Case in point is the rise of negative interest rates, which Sprott called ‘preposterous.’ Offering negative returns to investors, the instruments are clearly unsustainable. Sprott told King World News:
“So who’s going to buy it? Who in their right mind would be buying bonds with a negative yield? It’s just so preposterous. And all of the sudden if the bond buyer is not there — we used to think it was so great that China would buy our bonds. They don’t buy our bonds (anymore). Russia used to buy our bonds — they (now) sell our bonds.
The only entities buying the bonds are the central banks. Well, you take the central bank out of it and there’s no bid. That’s why I use the phrase, ‘I hope we are not right one day,’ that all of the sudden it (the entire global financial system) just collapses. They (central banks) may just look in the cupboard and say, ‘It’s over. We’ve tried our best and it’s not working. We’ve got to stop buying these bonds because our (central bank) balance sheets are getting so torqued out.’
Quite simply, it is a game of musical chairs being played by the Federal Reserve and other central banks.
Not only is the market manipulated and ‘rigged,’ but it is a complete illusion.
And the music could stop at anytime:
“The greatest danger is that we are supporting a levered banking system and everything they own is paper (financial instruments). If all the sudden things get bad, everyone takes their money out of the bank. It’s the central banks who are fighting to keep the banking system alive, so of course they are going to give them a clean bill of health (on the bank stress tests). Heta went broke in Austria. It had a AAA rating, so it was well-rated in the latest stress tests. Three months later it’s broke. That’s what happens to levered financial institutions.
KWN’s Eric King said that it posed the “greatest danger in history” to the entire financial world. “People couldn’t imagine it would get worse than 2001 – 2003, and yet we had 2007 – 2009. This one that’s in front of us, I’m assuming it’s going to be the mother of all collapses,” King said.
The world is already stretched thin with numerous other crises.
If and when it happens, you can be sure that it won’t be pretty.
I feel warm and fuzzy. I think I will go buy a US savings bond.
I got a 50$ bond from 1985 , wannna buy it ?
“Heta went broke in Austria. It had a AAA rating, so it was well-rated in the latest stress tests. Three months later it’s broke. That’s what happens to levered financial institutions.”
Demn! I feel bad for all those folks who trusted in that AAA rating and then lost money based upon trusting in that AAA rating. They probably don’t have any recourse either. The government or the powers that be in Austria probably said, “Too bad, so sad.”
If the same thing happens here in America, I think people are going to start rioting and shooting. They lose their bank money, and business and local governments don’t give a hoot that you depended on those deposits to make your car payments and other expenses…., well, there’s gonna be chaos and … then martial law… and then Obama will stay as President until the chaos stops.
Its sad since they came out and stated that their ratings were just their opinions.
To a billionaire, SHTF is when their billions stop multiplying for them. Their outlook is a whole lot different from the rest of us. I couldn’t care less what a billionaire thinks of MY economic outlook.
Good point.
“I feel bad for all those folds who trusted in that AAA rating…”
Trust? Who can you trust? There is no morality anymore. Everything is an excercise in situational ethics and the ethics being practiced is profit is over God and everything.
The entire financial system is psychopathic. Nobody is in it in any capacity that would be considered honest. When you see information just figure that its an outright lie unless you know it for sure. …but how can you?
If the only things governments do is Lie, Steal and Murder then the only thing financial institutions can do is Lie and Steal.
We have seen the total erosion of the morality of the human race in these last days. Its very sad, but, everyone is trying to steal from you and everything they tell you is a lie. Sounds pretty depressing, but, there are very few people these days that will tell you the truth.
Frankly, it is why we are here on this site.
here here
“Heta went broke in Austria. It had a AAA rating, so it was well-rated in the latest stress tests. Three months later it’s broke. That’s what happens to levered financial institutions.”
Demn! I feel bad for all those folks who trusted in that AAA rating and then lost money based upon trusting in that AAA rating. They probably don’t have any recourse either. The government or the powers that be in Austria probably said, “Too bad, so sad.”
If the same thing happens here in America, I think people are going to start rioting and shooting. They lose their bank money, and business and local governments don’t give a hoot that you depended on those deposits to make your car payments and other expenses…., well, there’s gonna be chaos and … then martial law… and then Obama will stay as President until the chaos stops.
The central banks are refinancing their government’s long term debt at a lower rate and will continue to do so until all of their government’s long term debt is free.
Rates will eventually begin to rise and the movement, albeit slow, towards normalization will begin as the bonds issued since 2008/2009 are discounted to new buyers as rates rise, providing both profit and safety to market buyers (think life insurance companies and pension funds and other money managers) with a fiduciary relationship for client funds. This will take time.
Unfortunately, in the long run we’re all dead. 🙁
durangokidd says:
“Rates will eventually begin to rise…”
Do you really think the Fed is going to hike interest rates? They know they can’t.
The average interest rate the Treasury paid on U.S. debt over the last 20 years is 5.7 percent. Today it’s 2.4 percent. Even a return to the historically low rate of 5.7 percent would explode the governments debt service cost.
Raising rates ain’t gonna happen.
The Fed is in a box of its own making and it has no freaking idea how to get out of the box.
“…as rates rise, providing both profit and safety to market buyers (think life insurance companies and pension funds and other money managers)…”
Riiiight… “Well, you take the central bank out of it and there’s no bid.”
YMWW: I don’t see rates getting back to normal for a very long time, but I do see rates rising this year; a tick at a time.
Central banks will not stop buying bonds for quite some time. Why would they?
Even if they stop buying their own they would buy each others to keep each other afloat. So the premise by Sprott is flawed. His “if” is a very BIG “if” and totally unlikely.
Not a rational action. Not gonna happen. 🙁
durangokidd says:
“I don’t see rates getting back to normal for a very long time.”
Duh…
“I do see rates rising this year; a tick at a time.”
Ain’t gonna happen DK!
“Central banks will not stop buying bonds for quite some time. Why would they.”
Duh… Why would they???
“Even if they stop buying their own they would buy each others to keep each other afloat.”
Duh… It’s called a Ponzi!
“So the premise by Sprott is flawed. His “if” is a very BIG “if” and totally unlikely … Not a rational action. Not gonna happen.
So says the durango (I love central banking) kidd.
YMWW: I do not love the FED. The FED is a parasite upon the American People.
I do love the mechanisms of central banking which facilitates commerce, personal and corporate banking, and global travel.
So says the Durango Kidd. 🙂
You’re right, without the Central banks there are no buyers- which is why Central banks will be there till the end. However long that is. With the tax-payer on the hook for losses.
5% of 18 trillion (the current debt) is $900 billion, pull that much out of the US economy simply to “service the debt” and the whole economy tanks. Don’t talk about paying it down. That’s why interest rates won’t rise till they’re ready to pull the plug on the USD.
For those that think that means world chaos- think again. Chaos means those currently in power now aren’t. Do you really think they’re going to give that up? No chance. There’s something in the works, just because we don’t know what it is doesn’t mean it’s not there. I suspect we don’t see it coming because they know that if we did, it wouldn’t be as “orderly” as they’d like. How many times have you read “orderly” concerning macroeconomics of late? Order, not chaos. Why do you think the cops look/act and are equiped as they are?
You say; “…they have no idea how to get out of the box….”
I say; Underestimating your enemy is a grave mistake.
Agreed, it IS of their own making… And they’ll profit from it right up until the time “we the tax payer” have to bail them out.
DK
“Unfortunately, in the long run we’re all dead.”
How long do you give it?
K2: “How long do you give it?” A rate hike?
Hard to say with so many variables now in the mix; but you can rest assured that the FED is working its financial models overtime and know EXACTLY how a 1/8 or 1/4 point rate hike would reverberate through the economy.
With most economic indicators turning down now anyway, how negative an impact could a 1/4 percent rate hike have? Probably not much, if any to the downside.
At 3 or 4% money is cheap if the economy is moving; or if those that borrow can achieve a better return than the cost of borrowing + their risk assessment and required rate of return (cap rate).
Most major companies have used this opportunity to buy back shares; borrowing cheap money and supporting the debt by much higher internal rates of return.
The economy is not moving because “QE” has never reached main street, if that money started to “trickle down” through cheap gas, tax cuts, or higher wages it could spur the economy enough to raise rates.
Offshore investment funds coming back to the USA will allow the FED to raise commercial rates too, even as the demand for Treasuries lower the required yield for government bonds.
There is also a psychology at work here too. If rates start to rise the rise could spur demand for money as individuals, businesses, and investors would want to get as much “cheap money” as possible while they can.
This mania is why people were getting 30 fixed mortgages back in the 80’s at 11, 12, & 13% while the prime rate was exploding to 18% or more.
It ain’t over til the fat lady starts yellin. 🙂
yes, i will buy it. I’ll give you 0.75 cents for it!!!!!
soon they’ll be cheaper than toilet paper…..or dollars….or Obama trading cards.
Me too. I think I’ll pour another.
John, you already have bought the bonds but you don’t know it. Each night your local bank reports their reserve funds to The Fed and The Federal Reserve borrows the money, at a low interest rate, for the night. That makes a huge slush fund for The Federal Reserve to invest in Treasury Bonds. It works until there is a huge demand for cash at the local banks across America. At that point, Capital Controls set in which means your banker restricts your withdrawal rate or shuts his doors. Since you are the true loaner of the money, The Fed. doesn’t mind giving you a negative interest rate for your money. Presently, the great lie is “they are printing money for this fraud. If that were true the cash money in your pocket wouldn’t have the old dates on them. Another thing, our money supply is credit cards, not cash. Stand in a grocery store line and watch what is paying the bill.
Are you from Kentucky or Tennessee?
You lost me at “…all of the sudden…”
Thank you Mac for keeping us apprised of all the
slippery slopes that keep cropping up on us.
Better to know the enemy before us than to be
ever in the dark.
Ditto
Thank GOD (literally) for the alternative media.
Explains the fairness doctrine in the Orwellian Net Neutrality bill.
I hear bits on Main Stream Media now about a collapse, but just bits….but then there are other utopian pundits denying this will happen. At least it is being mentioned where it wasn’t before.
I, myself, am getting stocked up for a longer term than 6 months of a disaster. I am filling up with propane, getting a few more cords of firewood, and more dried food to bury in caches.
Agree!
OutWest…….
You shudddda have known who the Enemy was 15 or 20 years ago….. I DID.
I wish we had a good idea of when this downfall would start.
For some it has my friend.
“When will this downfall start”? When?
Tis the million dollar question. It is different for different groups of people.
A middle aged working family that is mortgaged to the hilt could see a downfall at any given time, if they were to get hit with an unexpected catastrophic medical event with a family member, or the main provider gets a job lay off.
A retired couple that have all their ducks in a row and owe basically nothing but the property taxes and utilities, may even get thru a downfall without a problem as long as the retirement checks keep flowing.
Minor adjustments in medical costs and food expense like “eating out”, could be the only problems they face.
When jobs start dropping away like flies dropping on a cold day, then the overall downfall has begun.
When the government issued funds, like ss disability and retirement, EBT and welfare, employee pensions and non essential employee payrolls, cease to be hitting accounts at the banks; then it is full on collapse.
To a lesser degree, a sudden drop in the stock exchange index will only affect those with direct ties, such as folks that have all their retirement funds tied directly to performance stocks and those that are tied into dividend paying companies.
My very on 77 year old Dad fits this category. He is so head strong and greedy, that he will not take one dime of his retirement out of the stock market unless he is buying a big ticket item. Like most greedy persons, when he gets his portfolio report and sees the numbers at the bottom have risen, he wants more, more, and, more.
He sees it as smart. I see it as too big a gamble in this environment. Of course, timing is everything and one can get lucky if they know when to fold ’em.
The downfall of the “overall” drop of jobs, the stockmarket and food production, coupled with the rise of inflation and sudden rise in prices of everything, especially food, could come this year.
If something causes a sudden drop in the supply of crude oil/gasoline, it could set it off.
If something causes a sudden drop in the supply of money because of a market crash, it could set it off.
These are the two biggies.
If a person believes as i do, that economics and financial security hinges on a supernatural cause and effect, then the world is now in line for a large scale ass whipping/chastisement. It starts with the ones that have the most. “To whom much is given, much is required”. It goes a lot deeper than throwing cash at a big charity or dropping Benjamins into the Sunday collection plates. It goes to a larger degree the lifestyles and acceptance of abominable things in a nations governing.
If a person believes as i do, that we as a nation, have come full circle and that we true Americans, are an example to the world, in those lifestyles and acceptance/allowance, of many abominable things. Then, the time may be at hand this year as many indicators,signs,alignments and prophecies, converge around an early Autumn timeframe.
There are many variables, and many ways to be affected. True preppers should feel the least effects of a downfall, “if”, they are spiritually prepared. True SPIRITUAL preparedness “isn’t” believing that a regular Sunday morning church goer is going to fly out of here before shtf in a thing called a secret rapture. It requires much more and actually requires that there comes a truth, in denial of such an event taking place.
I look at it like a bull rider that is settling onto a huge mean bull, the rankest of them all. If he is not mentally prepared for the biggest ride of his life than he will be scrambling in the dirt before the first seconds of the ride ticks off.
When it comes, and it will; all we can do is plan to be prepared to accept what is coming, dig in with both heels and hold on tight. It will eventually be over and the strong; mentally,physically and spiritually, will survive.
I see the first phase of the ride of the downfall coming before the end of this year. I don’t see an end to this age coming for sometime yet, except for some on a personal level, like my first cousin who was 59 and fell stone cold dead from a massive heart attack while walking to his bedroom last month.
When i see and feel something more, I will share.
There is still time to prepare with stocking up on food stuffs. Preparation for gardeners and farmers is now. This could be the growing season that changes everything. Preparation for finances was yesterday, but anything done today may have positive consequences tomorrow.
good luck and God Bless.
pwtw
PWTW:
Great post! Keep them coming!
Thanx that makes alot of sense.
Very well said.
Very true and very intelligent on everything you said! I myself are preparing for when the shtf…water, food, medical supplies, etc. Also if you notice how many times Israel is mentioned in the bible (I think over 100?) then you would know the 7 year rule. Funny how that has been pertaining to us on when the economic hammer falls. Notice every 7 years? 2001, 2008, and I can’t tell you how many alternative news websites are talking about this year, 2015, and how many bible prophecy sites are talking about it….MANY people see this economic tragedy happen on or around Oct 2015. I’m not a date setter, but as Israel and USA have a lot to do with the bible, and the sin and the evil that is increasing terribly in both countries, I can see the end of this 7 years as a wake up call from the Lord himself, as He throws the economic gauntlet down upon us. So I hope all God fearing people pray hard as I do that this country turns around from its..well u know..and everyone takes care of themselves by storing up for the inevitable, and prays hard. These countries leaders are taking us off the cliff really fast, and I pray that they’ll turn their evil hearts around and see the light. I really enjoyed your statements, I pray the Lord watch over you, as I can see that you have a good heart. Thank you again.
By the way, Bonds have had a negative return for a long time now. The rate of inflation causes the rate of return on the bonds to be negative.
There is no inflation. The government says so. Didn’t you know that?
ha ha ha ha ha
Hey Wrong, cat got your tongue or are you
just thoroughly disgusted like me?
Well, I can’t say it surprises me, the bitter, unavoidable financial collapse. However, when the foxes are left to rule the hen house, would anybody expect any other outcome?!
You can’t bet on the future (Those who associate with the ruling elite) and ignore the present trends, information, and faltering financial reality forever, without suffering the ill-effects of it. I do not expect my “Retirement” will be there when/if I retire, so “A Prepping I Will Go!”
a must watch
WHAT IS DARK MONEY? AMERIKA’S HIDDEN ZOG BANKING SYSTEM!
Catherine Austin Fitts
https://www.youtube.com/watch?feature=player_embedded&v=w0mimIp8mr8
Digs,
Great Video! Thanks!It is a must Watch.
Digs:
WOW! WOW! WOW!
Makes all the articles on finance, corruption, etc. seem like cover up to the real truth. Don’t wait for your “fave” BlogSpot to cover this truth; it ain’t going to happen.
Watch it if you want the truth!
What an interesting video. It’s a wonder they haven’t blown her up yet.
Massive financial implosion is as sure as night following day. Just dunno when.
Aussie
It isn’t like they weren’t warned. Repeatedly. For at least six years. That they were inflating multiple bubbles worse than the subprime mortgage mess was.
The implosion should be spectacular. Hope everyone has popcorn.
Yea one day – Poof more money, poof more money, and poof??? Poof, poof, poof. Oh crap!!! it did not work this time… SHTF…
http://i.imgur.com/wP8L2Fq.png
Two questions, Will we have to bail out the banks again or will it all come crashing down?????
I think this time it crashes and TSHTF will be are next joy ride, brought on by government over reach and miserable spending habits!!! Good luck!!!
S.T.S.F.P. N.R. N.S. N.Reb
“Will we have to bail out the banks again or …”
It is now called a BAIL IN – banks get to use depositor
funds to bail themselves out. The vice chairman of the
federal reserve calls it a “gone concern buffer”.
Our next joy ride will be from a cattle car if you’re willin’.
No, we the people should not be bailing anyone out, we didn’t get them in this mess, THEY did!
NO MORE BAIL OUTS!
Just say NO!
I don’t think there’s enough money anywhere to bail out the banks (maybe the Clinton Foundation!) so, yeah, I think SHTF will actually materialize. If it does, get it on before we get too old to defend ourselves. This long, slow, waiting is draining me of energy.
Well if they do manage to kick the can down the road a while longer it’s that much more time for me to prep.
Don’t underestimate the government and the Fed’s ability to cheat, lie, and steal their way out of a predicament.
315,000 in Iceland took care of their lying cheating cold dead beating two timing double dealing mean mistreating bankers and arranged for a few to vacation in jails.
THOSE CITIZENS should be our role models. Nothing less!!!
Amen.
When they abandoned being held to a standard such as the Bretton Woods agreement it was inevedible that sooner or later they would get into trouble. Its wasn’t an iff but rather a when and that is the big unknown. The magnitude is increasing each year. That points to its getting sooner not later.
The sky has been falling for 7 years. The banks are already slamming us with fees they hadn’t charged before. I hate to sell my coins, but who will buy them later? I’m ready to get out of everything. Comcast has gone crazy with their prices. When I paid more for Comcast than the electric bill than I’m crazy. Just cancel it all and sit at the mall. Oh no, its dangerous there. What a life.
Library, Netflix, and 25¢ movies from rental store–haven’t had tv since 2008.
What kind of coins,? The is always a market for those
If you can’t watch TV, all you can think of to do is sit at the mall?
Damn.
Time for a reign check; but there are none that do good. Know what that means?
Better to wait until the robots to rule.
A lot of people are talking about a total crash starting this Sept. (Have you heard anything like that?)
A lot of people are sitting there sights on a derivatives crash or a stock market crash a bond market crash or even a gold crash. I firmly believe it will be a perfect storm and we will get hit with all these problems and even some problems we are not thinking about. That is why the Government will not be able to help as it will be to many holes in the dyke to stick to few fingers in.
The Government will do everything in it’s power to stop this but it will hit full force any way. They will devalue the dollar, they will have bail-in’s they will seize your retirement accounts they will do it all and everything to try to save the banks but it will NOT work.
The banks and the Governments will have a wiping out of debts for them but NOTHING for you and me. If anything when they devalue the dollar your home loan and auto loan and credit card loans will GO UP, NOT DOWN. Remember the banks can’t loose money in this deal ONLY YOU can loose in the new deal.
See how to prepare for the coming economic collapse at:
http://www.iplantosurvive.info
If you take the time out to watch this video, you will have your answer.. https://www.youtube.com/watch?v=kyrZCZv1W1k Your Welcome.. Elul 29 Sept 13,2015
Oh wow!! Someone knows all this besides meeee! I’ve been spreading the news of this 7 year judgement for awhile now. Notice the economic crashes come in 7 years people! 2001, 2008, and now 2015. Prepare and pray!! I hope everyone clicks on your link, it’s VERY important!
Oh wow!! Someone knows all this besides meeee! Everyone watch this link from Robbie41 and you’ll really learn something!!
I’ve heard March (It will have to hurry), September and October with several sources for each month. Who knows? Certainly not the government. Watch for the exodus of rats from DC which should give you at least a few hours warning. The Obamas will take another BIG vacation and be out of the country assuming they can find someplace safe to cover their ass.
Buzz, it would be impossible for them to re-negotiate the terms of a loan. As much as something on paper can be, a load or mortgage is set in stone by the contract. The right and ability to contract trumps almost all other law.
The contract says that I owe a certain amount and that they can raise my interest every 18 mo and are required to lower it every 36 months.
It would be a very bad idea to try and change that without my consent because, that would be breach of contract and they would essentially be breaking long established contract law. If they attempted to do it, it would cost them far more than what I owe them or what they could possibly gain by changing the numbers. There is no mechanism to do that. This is one reason why the devaluation will never happen. The dollars you have will always be those dollars. Now, they may stop issuing them and issue something else that is worth less (worthless?) but they cannot re-value the dollar because all of the loans the banks have would be devalued also. You can’t devalue the dollar without devaluing all of loans and the banks will never agree to that. I say this in the wake of the last 100 years of devaluation that amounts to about 98%. See, they hid it and worked with it and fleeced you with it. They came out ahead. In a sudden devaluation, everyone loses and the central bank just can’t handle that.
drbuzz:
A close friend who is a financial planner said the same thing. Be prepared for a fall event. He said he thinks it may be like the crash of 1929 only on a much larger and deeper scale. He said be in cash before Sept and wait it out. He also said to be prepared to go back in after the dust and bodies have been cleared from the battelfield. It’s going to be real messy as well as bloody.
Yes, it’s a 7 year cycle, and that cycle is coming around again, in Oct 2015…
Why would a BILLIONAIRE give a shit if the economy collapses? Geez, the dude can’t be so stupid to have all of his wealth in fiat currency, could he?
So he sells a few of his homes, boats, and cars, cuts down of Caviar and 30 year old single malt, BIG DEAL!
Maybe he cuts back on his “Sugar Daddy” account and only keeps 1-2 Supermodels for when his Wife is in Paris ?
watch out fur them hogs!
Them Hogs:
How are you doing up there in north land???
I just checked out Eric Sprott. He sold off his U.S. Bonds and is heavily invested now in Silver and Gold, Physical gold and silver and in the mining of them.
He believes that there is no were for the fiat currency to go but down and out, unless it is back by gold or silver.
S.T.S.F.P. N.R. N.S. N.Reb
BitGold Backed By Sprott in Public Stock Market Deal
http://www.coindesk.com/sprott-bitgold-public-stock-market-deal/
Hogs, there are actually some people that give a shit about other people. Not every single billionare, politician or banker is a psychopath, just most of them. BTW, don’t confuse the street definition of ‘psychopath’ with the true definition. The true definition of a psychopath is that the world is here for them and nothing else matters but them. It is, essentially, the worship of the self. Many think it is satanism or luciferianism. I’m inclined to agree.
Boom|Squeal|Sizzle – They are tasty!
I thought that was the rough definition of narcissism…
Eric is not a billionaire.
I believe that the economic & financial realms of this Nation,& around the world will finally collapse on Elul 29, which is the last day of the Shemitah..This is the wipe out day, where all credit & debt is wiped away clean..
Starting in April, the oilcos will have to rebalance their portfolios at the new crude price, per GAAP. This means all those stretched out fracking companies will be moreso with a lower oil price and reserves worth 50% less than last year on the books.
Look for bankruptcies as they fail to roll over their debt. There will be a High Yield Bond crisis later this year as all the junk bonds that got tranched out into securities to be sold to YOUR pension and 401k plans will fail.
This will be the next bailout for all you participating tax donkeys to underwrite. lol…yea me too.
“Or Else Tanks in the Streets”
“Will have to rebalance thier portfolios…” What are you talking about?
Massive global debt only can mean one thing – global war!
Massive global debt only can mean one thing – global war!
Its simple…The governments print money and the central banks use it to buy bonds to prop up the economies of tthe world. There will be no collapse unless there is a shortage of ink. I have visited this site for a few years and seen lots of folks leave because of the chicken little stories. These stories will be around in a few more years…will you?
You’re correct Warface….right up until a major player calls Bullshit. I think China is setting up for that now. Has to be some reason they are collecting the majority of the world’s gold.
Wait what? Gov does not print money the fed does, the fed is not part of the government, and your the one who will see, because the shit will hit the fan, within the next year, probably within 3-6 months, the house of cards can only stand so long, its only logically
870,000,000,000 for Tarp(2008) that really was stolen by bankers would have meant $2800 to every man, woman, and child or 17,000,000,000 (billion) to every state for small business loans…..makes you say, what were they thinking??
Pass the Pop corn and Pepsi.
I just keep a little money in the bank just to pay bills.
I just bought silver the other day, and the wife just picked up around $450.00 dollars worth of Silver. Silver is down and now is the time to buy.
We keep hearing the banks are ready to collapse. We will see!
Sgt.
Sgt, you’ve got the right idea. Just keep stacking. You cannot inflate a balloon forever.
The end comes without much warning if you’re not looking at the balloon. If your hand is on the valve or you’re just walking around oblivious, you don’t notice how thin the balloon is stretched. You also can’t tell by looking at the sides of the balloon. You have to look at the little nipple on the top. When its about ready to burst, that part will be streched way out. We’re there. But, will they stop inflating? Will they let a little air out? Who knows.
What gets me is that everyone that says its “Chicken Littleish” to warn about this stuff has fire insurance but has never had a fire. They have theft insurance but have never been robbed. They have flood insurance but have never been flooded. They have earthquake insurance but have never been shaken. Yet, we’re all Chicken Littles for buying PMs, stacking away some food and guns?
Jeez! Its just insurance
Stoopid is as Stoopid does.
NR
10/4!!!!!!!!!!!!!!!!!!!!
The Banksters / Elite know the house of cards they have set up is going to come down. That is the plan in fact. However, they don’t want to get the blame from the sheeple so that is what is with the antagonizing of Russia. They need to blame the collapse on a war or other grand calamity or else the ire of the sheeple will turn on them. “we were in a recovery… and then evil Russia attacked and sent our economy into a tailspin!” Pure lies but it gives them cover for most of the sheeple will by it.
this is simply awesome grub for a single guy
just finished of the last of it tonight.
bachelor steak soup
8 hr low cook crock-pot
8 cups water
2 diced garlic cloves
1 tablespoon of olive oil
1 teaspoon of ground pepper
1 teaspoon of hot sauce
2 cups of cubed beefsteak seared in pan with garlic and olive oil
1 onion diced
1 green pepper diced
2 potatoes diced
2 carrots diced
2 celery diced
3 pre mixed crushed to gravy beef bullion cubes in cup a water
2 cups pre-soaked over night assorted dry beans
1 cup of rice
put all into crock pot and cook on ‘low’ for 8 hrs. do not over cook it or rush it.
this is a very hearty meal and will hold for days on warm cycle and you can just keep adding vegi’s and cooked meat to it for flavor and keep it going.
tonight i’m making hambone , crisp bacon and bean soup yum ;0)
as a bachelor i’m more for the quick and easy meals that are suited to nourishment over taste and indulgence.
in the summer, it’s nothing but barbeque.
I have a question. If a country has the resources, to support its population, why does debt owed to outsiders mean anything? Why does everyone buy our debt? Is a Chinese soldier going to come and take your home, if we don’t pay him his wages?
Money is a means of transmitting wealth over great distances. It is also a means of controlling people over great distances. Real wealth is land, water, shelter, food, the means to protect yourself. Money is just the politest way to deal with people you don’t like very much and have things you can’t easily get yourself.
That’s a good question. And I noticed nobody here has even attempted to answer it.
They have really been switching the dollar currency up / down switch a lot lately. The currency value and the markets have been like watching a yo yo championship for 2 weeks. So what’s next?? I think 3 countries have run out of toilet paper already. It’s gonna be shitty for all of us soon!!
When It Becomes Serious, First They Lie–When That Fails, They Arrest You
http://www.oftwominds.com/blogmar15/lies-arrests3-15.html
have you ever stopped to think
that virtually everything that comes from government is a LIE?
they can be trusted with nothing
how government officials testify before Congress and knowingly commit perjury
and are not held accountable ?
how the media,FOX,CNBC,ABC or whoever merely repeats blatant government PROPAGANDA ???
“prepping” isn’t just about preparing for some one time emergency
it’s about recognizing how VERY corrupt the ENTIRE system is
and finding ways to DROP OUT
Laws up the ass everywhere but the elite go free every time. No accountability.
Decided this year, no fishing license will be bought. Why do I need to pay to fish where I was born when illegals trespass and break countless laws staying here fishing for there own grub. So Im done. Ill be illegal too.
I dont need the g-mans permission to fish in my own state. I already pay enough taxes. If I get fined Ill go to court and state my claim. I dont give a damn if I lose or go to jail. They can feed me. I paid taxes to cover that too.
Society aint civil no more and we dont need to pay to fish. Govt brown suit fuckers can kiss my ass from here on.
So let’s see now. All starts in September. Hmmmm. Wonder how consumer confidence will play into this. Will the public buy things they don’t need. Will Christmas come in JULY Sales. Have to get the jump on things.
Three Radio Shacks close on my side of town. In Ninety Days! One out of three K-marts still open.
I appreciate these articles Mac. Thank you sir. This article backs up what they are saying on other websites that say sooner rather than later all countries except us and Israel will be trading in another currency and the dollar wil be by itself
Why Irish Eyes Are Smiling
While on vacation in Rome, I noticed a marble column in St. Peter’s with a golden telephone on it. As a young priest passed by, I asked who the telephone was for.
The priest told me it was a direct line to heaven, and if I’d like to call, it would be a thousand dollars. I was amazed, but declined the offer.
Throughout Italy, I kept seeing the same golden telephone on a marble column. At each, I asked about it and the answer was always the same: It was a direct line to heaven and I could call for a thousand dollars.
Then I went to Ireland.
When I finished my tour in Ireland. I decided to attend Mass at a local village church. When I walked in the door I noticed the golden telephone. Underneath it there was a sign stating: “DIRECT LINE TO HEAVEN: 25 cents.”
“Father,” I said, “I have been all over Italy and in all the cathedrals I visited, I’ve seen telephones exactly like this one. But the price was always a thousand dollars. Why is it that this one is only 25 cents?”
The priest smiled and said, “Darlin’, you’re in Ireland now. It’s a local call.”
Happy St. Patrick’s Day to all.
Y’all Beware! Keep Smilin.
off topic…White to delete it’s FOIA……
So much for transparency.
JRS I’m in the New England pension fund and my employer is only funding my pension at 25 percent so 75 has been rated it was done before I took the job they took a vote and it was pushed on the guys they were threatened with company closing. should have called their bluff and let them close the doors and guys said we need the job. So now when I’m retired I will get a quarter of what I should get some retires are getting like $4000 a month I’m gonna get $1000 pensions are good but I think they getting out of the pension business my last job had 401k and they matched your investment so I did it because it was like a raise if you did it. Now I hear they don’t match at most company’s. So I guess what I’m trying to say is hoard $ like no other if you want to ever get out of the workforce. It’s what I do I still got like 30 years more to go. I see it as I can have something if I scrimp and hoard. I will tell you I’m nowhere near the kind of dedicated worker I used to be and why should I be when I keep losing. it really does beat worker morale down. That’s how fucked up it is I work hard and sacrafice and gov and employer steal it. I should be making like $3 an hour more too. They took a 15 percent pay equity before I got there too. It used to be shown on pay stub but the first of this year they don’t show it no more. The union never took a vote on it either we went to them and said why they take equity pay off the stubs they said some guys didn’t want to be reminded of the 15 percent. In other words take it away altogether . I want it there because if company goes under and sells whoever buys it has to put it back and try to renegotiate pay cuts. If it’s not there I don’t think they have to give it back it’s a fuckin joke they are pulling shit and they are gonna piss off a lot of people like I said I need 30 years to retire. I got 2 years in I need 5 to be fully vested I just wanna make that at least so I get something. Then if the grass Is greener I will go somewhere else. So yes the pension funds are being raided a guy I work with was telling me he called the fund office to find out what was going on they would not give him any answers. You know other brothers will find out and word will get around. This is all terrible news for us younger guys. The older guys are retiring and the company and union are destroying the contract piece by piece.
“…the company and the union are destroying the contract piece by piece.”
Don’t I know it Ass hat. The private equity firm that bought this union shop two years ago, completely pulled a fast one on the members by dropping the pension plan and switching to a 401k. They changed the wages down and gutted the health benefits with the last contract negotiations. The union backed the company and claimed they would shutter the place if the contract was not approved as is. Workers got scared and, after three votes, they got majority approval.
The PE firm would have completely forced the union out but they need the “Union Made” stamp to sell in NY and Philly. Basically, it boils down to the union members paying union dues to allow the company to use the union owned stamp.
The Carpenter Union sucks when it comes down to standing up for it’s members. For those vested, the pension plan is in bad shape and they suck up the dues at a rate of around $200,000 a year just from this shop but do absolutely nothing for it.
If they raised minimum wage to fifteen dollars an hour, every one with less than four years would need a raise and the rest would be making about a dollar an hour more than minimum wage.
sounds like your company got taking over by Bain Capital
and Mitt Romney
thats how that bastard made his money
go in
GUT a company and then sell off the skeletal remains after there is nothing left
Pretty close. That’s what I thought, too, when they bought it. I told the wife that most likely within a year or so, they would load up as much debt on the equity as they could, take it out in salary and bonus and throw it to the bankruptcy court.
I researched the PE corp and it’s based in Texas but is actually run by a holding corp in Fla. with many other companies in the US under their control.
They bought this division from Armstrong World Industries with 12 million owed to the pension fund that was part of the deal. Instead of making good on the pension debt, they simply decided to hold the union hostage with an all or nothing contract and junk the pension.
I don’t look for them to be around much longer.
Quit?
Ok everyone I have been sitting here and watching several aspects of today’s news with Russia and issues in the USA I think that we are at the final stage of what we have been prepping for over the past decade this is my gut fealing good luck everyone here we go
As someone who has visited this and many related sites for some time, I am glad to see many new posters {?} here and other sites. Names I have not seen before. I think more people are “waking up”. Here in the Northland there are a lot of layoffs occurring and the state is 3.5 billion dollars in budget shortfall. Next year, with the price of oil falling, it will be worse. Let’s reset this already, regardless of the cost. Lock load, prep pray.
I agree my friend. Just a matter of time. Something big is going to happen, if I am wrong, my intuition cost me a 76,000 job a year ago when I opted out and am now living on my money saved. But the feeling that it was all a ruse, this false reality fiat currency Ponzi scheme. Glad I wasn’t counting on social insecurity which this pos government cannot honor. If I fefd up my “retirement” so be it. My wife and boys supported me. And the boys are on notice they may have to take care of Dad and Mom if I was wrong. And they are “awake” God bless em. And locked and loaded…. Lock load, prep and pray.
Strykers rolling 3000 clicks cross Euro. A10s covering. Provocation of WW. Double check gear and perform maintenance on bangs. 7th or 8th – blood moons since crucifixion. September is month so sayeth he. He hates Merica. She hates Merica. Final approach to decline of civility pending. Blood on Revs & Eric’s hands in Missouri. Religion used as cover for ops in Dearborn. $$ and deals to Carter’s BFs. Blood on every border they gain stronghold. Numbers are a lie – printing presses full steam while Nero fiddles. It will be haves vs have nots. Prepare to defend yourselves.
For all those who have prepared please proceed to the rear of the train, this is the only place to survive the crash. Hold on folks the wreck approaches. Be safe friends.
1000 vehicle u.s convoy headed to the UKRAINE to stop the Russian from advancing.
WW3 imitate
Be things how they may…
Sprott is making a commercial, you just read it.
Buffett said a few weeks ago, buying gold means going long on fear. This is a gold commercial.. fear-pron. Sprott is long into gold and wants to make it go up again by making readers fear. Always makes sense to take financial advice from ‘experts’ … that make money from the ‘advice = ad’ they give to get the money of the people they ‘helped = ripped off’. Because gold does nothing by itself but shine and in todays world is completely irrelevant except as a nice shiny thing. It’s not even a store of value because it’s so manipulated by among others.. one of the main global players is Sprott. lol. U can bet the value of that gold u buy will go down again to less value… because Sprott sold his to u.
From SQ site:
New Rules for Money Market deposits:
1) No withdrawals in the next stock market collapse (As I understand it)
2) Money Market deposits (your cash deposits) will float, like the price of stock. No longer guaranteed.
3) Cash deposits in Municipal Funds (if you own muni’s, interest pay’ts. into your account) will be subject to fees if you withdraw them.
Something smells awfully fishy here. Does the SEC expect something nefarious to happen in the near future?
CIGA Wolfgang Rech
Change is afoot! In the Cash Markets-
Money-market mutual funds used to be a place to park your cash, now investors used to ignoring that part of their portfolio might suddenly have to pay attention instead because-
• New rules recently passed by the Securities and Exchange Commission governing the $2.7 trillion industry have sparked proposed changes at two of the largest money-fund providers, Fidelity Investments and Federated Investors Inc.
• The SEC regulations aim to prevent an investor exodus from money-market funds like the one that happened during the 2008 financial crisis, when the federal government had to step in with financial backing for the industry.
• And shares of money-market funds must float in value, like the shares of most other mutual funds. That’s a change from the stable $1-a-share value traditionally maintained by all money-market funds. The idea is that investors will be aware of changes in asset values as they occur and be able to adjust their holdings accordingly, rather than stampeding out of funds when they suddenly become aware that their shares aren’t worth $1.
• Another big change is that all money-market funds that invest in corporate or municipal debt will be allowed to charge investors a fee to redeem shares when the funds are under pressure or temporarily block investors from withdrawing cash.
Mar 17, 2015
Not what’s in your wallet anymore, but who owns your wallet?
At some point the reckoning will occur. Those that have used the system for profit and gain at the detriment of others will pay the price.
Survival story. Had to go the emergency room of a major midwest hospital last thursday. Went there 10 years ago and it was very good. Not now. Big changes have taken place. It was way over crowded and no place to sit. Over 20 people had got up and left without treatment. I had to stand for the better part of 3 hours with sporadic chest pains. When I was finally taken into the ER, 5 1/2 hours after I arrived, I had to wait another 21 hours for a bed in the cardiac unit. It would be wise for all of you to check any hospital facilities that you might be using, before the time comes. Loyola University, west suburbs of Chicago.
wow
TOTALLY inexcuseable Prophet
someone who presents to the ED with chest pain
should be seen IMMEDIATELY
you could easily be suffering from an MI or PE
both VERY life threatening
sounds like a piss poor hospital to me
If I lied and said I had chest pains at the time, I think they might have sent me in to the ER. But the pains would come and go. So stand and suffer. If there ever is a next time, I lie. But the only way I would go back to that place, is in the back of an ambulance, against my will.
chest pain that “comes and goes” should still be seen IMMEDIATELY
heart attacks present in all sorts of ways
that hospital ED needs to get their shit in gear or shut down
Drudge linked to an article about Friday’s solar eclipse, combined with a supermoon and the spring equinox.
ht tp://www.independent.co.uk/news/science/solar-eclipse-supermoon-spring-equinox-friday-will-see-three-rare-celestial-events-10111592.html
“On March 20, the Earth’s axis will be perpindecular to the sun’s rays — which only happens twice a year, at the two equinoxes. After that, it will start tipping over, making the days longer in the northern hemisphere.”
As you can see from the above quote, the science news isn’t very scientific. Everyone should know that the Earth’s axis doesn’t move like that. Also, they couldn’t even spell “perpendicular.”
Earth’s axis remains fairly stable except for a little wobble when all the fat people in America roll out of bed in the morning.
How long does it take for the sun to orbit the earth?
a.365 days
b.30 days
c.24 hours
Most Americans got this wrong…
0 because the earth rotates the sun now it takes 24 hrs for the moon to rotate the earth
The EARTH orbits the SUN.
An old trick among stock advisers that applies to commodities, “report” sellers, and such as well that everyone should be on the lookout for.
Call a thousand people from a “lead” sheet and tell half of them that stock abc is going up and the other half that stock abc is going down very soon.
After it either goes up or down -which it almost always will- call the half that you were right about and drop the rest making a new prediction to the remaining 500 that now stock xyz will be going up and the other half that stock xyz will be going down.
It will obviously again go one way or the other, so you drop the half you were wrong about and have the half that you were right about thinking you are a stock (or commodity or whatever) predicting genius and you now have 250 new customers that will do anything you tell them to do or buy whatever it is you are pushing (which means you profit from selling them something you are selling and they really aren’t guaranteed anything one way or the other outside of random chance).
This is how you make money doing financial and economic predictions, and the customer has no way of checking your real track record out since you always just ignore -and keep hidden- all the times you were wrong (which is always at least half of the time, depending on what you are predicting).
Interestingly enough, anyone with good marketing and persuasive communicating skills can do this today with absolutely no real knowledge of his subject and get rich in the process (which actually adds to his credibility and attracts future dupes). Probably the majority of people reading this post could do it.
Be aware of this and you’ll be more likely to at least hold on to your hard earned money. Steaks have taste whey you eat them and they have sizzle when you cook them, look for the taste when you’re buying one instead of the sizzle when it’s cooking and you’ll come out ahead.
Sharon,
That was most helpful! Most insightful!! Much thanks for sharing!
Toilet paper , bic lighters , canned food , water filters , shoes , medicine , bandages
Great ARTICAL by a great site.
This fat cat billionaire is trying to warn the general brain dead public that your bag of potato chips will cost ten bucks pretty soon. But right now most Yanks are nothing more than metastasizing zombies, just a few meals away from becoming fully fledged zombies. Get ready, if you can read. It’s all free, rock solid simple advice from amazon if member, in a book called Yankee Anti Zombie Survival Manual. Many Manhatten big shots have read the manual and taken the advice. Why? Because it’s tough dying when you’re worth a few billion. But then, it’s tough checking out when you run out of potato chips. Life is a bitch without chips, sports, and beer, but getting chomped by zombies is ugly. Think it’s all hype and BS, wait. The people on the Tiatanic thought it can’t sink.
I’ve been in this community for some time. I remember listening to Bill Cooper’s shortwave show in the early 90’s thinking ” the collapse will be here anytime”. Then I read “Bankruptcy ’95”, then ’98, etc. Later we had Y2K. Every whack job preacher predicts the coming of the End Times in spite of Christ’s own admonition that we’d never see it coming. Most recently, the Mayan thing fizzled out. (My insurance guy gives me a nice calendar every year. It ends on 12/31. Does that mean he’s predicting the End of the World?) Now we have the Shemitah in September.
My point is that none of us will ever be able to answer “when”. We have to stay informed, trust in God , and prepare for uncertainty as if it’s a lifestyle. Live your lives and keep your eyes and ears open. It may not be a sudden dramatic event, it may be a series of turds hitting fans.
I still feel as if something’s going to happen soon. The entire zeitgeist these days seems to point to an imminent collapse. Keep on prepping.