Phil Sloan: The Financial Crisis Will Be ‘A Shock To This Country. It Will Be Chaos’

by | Dec 11, 2017 | Headline News | 32 comments

Do you LOVE America?



    Phil Sloan has been in the Investment business since 1962 and he’s sounding the alarm for those willing to listen.  He is saying “prepare yourself; your way of life in the United States is about to change.”

    Sloan was the Managing Director of Fox Asset Management, a subsidiary of Easton Vance at Fox. He was also on the Investment Committee, the Strategy Committee, and the Management Committee. Sloan was also the Vice President of PaineWebber (now UBS) Investment Consulting services and worked with financial advisors nationwide, setting Investment Policy, Asset Allocation, hiring outside managers, and monitoring results. As if that wasn’t enough, Sloan was also the Vice President consulting services for Merrill Lynch.  It’s safe to say he may know a thing or two about the financial crises (both past and future) in the United States.

    Sloan was recently interviewed by the X22 Spotlight, and he is asking people to prepare themselves now for what’s coming.

    Sloan says the economy is moving at a snail’s pace, but that isn’t all. He expects that at some point we (the US economy) will run out of gas. He says that pension problems are headed our way. “Pensions have problems because they were never funded properly and the idea that somebody could retire and get paid their full compensation for 20 or 30 years is a ludicrous concept. So, therefore, now that you have an aging population and they have all these crazy schemes built in that ‘we’re gonna pay you for the next 20…25 years at your full salary..there’s just no pension in the world that can do that. ”  Pension issues are becoming a problem.  Many states are struggling with these unfunded liabilities.

    “The pensioners are going to wake up one day and get an email or a phone call or whatever, saying ‘by the way, you were supposed to get 100 bucks, but unfortunately, we don’t have enough money, so you’re going to get 50 bucks’…60 bucks…40 bucks…or whatever their number is. I can’t tell you what that number is, but it’s not going to be 100.”  Sloan goes on to say that the United States is $20 trillion in debt, so governors that seek to pad pensions with money from the treasury are going to be massively disappointed.  Sloan also says that if anyone ever approves funding pensions this way, the US will become Zimbabwe.  “There is no way to pay these Ponzi schemes,” Sloan said.

    When Sloan was asked about his take on the elites keeping gold down, he said:

    “…it’s some central bank trying to disrupt the marketplace. If you look around the world, the Chinese central banks are getting gold reserves. The Russian central bank; getting gold resesrves. So, they want to have a currency system, a payment system, whatever you wanna call it, that’s based on real money. Gold has been around for thousands of years and has always had value.”

    Sloan was also asked what happens in the United States when the dollar system finally breaks apart, which it will do inevitably. Sloan said:

    “Inflation will come back rampantly in this country, and we will be, you know, having this real problem of potentially hyperinflation to deal with.  Because if the dollar goes down by 25%, and you are, you know, China or Europe or whomever, selling goods to the United States, you’re no longer gonna say ‘well, I’m gonna accept the dollar, you want a dollar and a quarter, a dollar and a half, a dollar and three quarters, etc. So, I think, if inflation comes back, it will affect everybody in a very negative way. AND, we will no longer be able to live beyond our meansWhich is going to be a shock to this country….it will be chaos.” -Phil Sloan


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      1. Web Results

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        • “Because if the dollar goes down by 25%, and you are, you know, China or Europe or whomever, selling goods to the United States, you’re no longer gonna say ‘well, I’m gonna accept the dollar, …. ”

          Yada, yada, yada. More BS from the NWO !!! Fake Financial News !!! Propaganda !!! The fear mongers, like JIm Willie have been saying that the dollar will die for twenty years. Its still kicking.

          The above quote presupposes that China, Europe, or whomever will be selling goods to the USA. Those days are over. In the future, major currencies will be more equivalent, you will see a reversal of this trend, and China, Europe, and “whomever” will be buying more goods and services from the USA where PRODUCTIVITY is always higher because Americans are always more motivated when they have incentives to produce and or perform.

          TRUMP is reintroducing incentives back into the Economy.

          The days when Caterpillar and other major manufacturers can build equipment in China, ship it to the east coast of the USA and sell it for less than a comparable product (even their own) built in the USA are over.The economy will continue to RECOVER and then EXPAND while bond rates rise and equities decline.

          Americans have been told that the economy was MATURE and that GDP COULDN’T grow more than 2% a year. Which was true under the NWO Socialist, Economic, Propaganda, and TAX PLAN for America. The economy is currently growing more than 3.3% and TRUMP has only been in the Oval Office one year; while Congress has not yet implemented his policies or tax plans.

          There’s a new sheriff in town and the basic premises (AGENDA 21) which have governed the American economy over the past several decades have been UPENDED. America is back. TRUMP is demanding a level playing field for American workers families and businesses; and China, Europe, and “whomever” are shaking in their boots. The last thing the NWO wants is a revitalized American economy, and a reinvigorated American Spirit.

          United under God we are invincible; thus the deliberate efforts to divide US. The entire world against US cannot defeat US if we cling to our God, County, and Guns.

          The crimes committed by the NWO Left & Right will be fully exposed next year. The guilty will be imprisoned, and a NEW BURST OF FREEDOM will come to America. 🙂

          • The Gravy Train that Europe and China have had at American worker, family, and taxpayer expense is over. Europe and China are concerned that their unfair advantages will be taken from them “distorting” the current economic advantage they have.


            TRUMP policies will only create a LEVEL playing field and the NWO doesn’t want that. That would be ….. FAIR …. spell the death of NWO Crony Capitalism and the end of the Socialist European States, Making America Great Again. 🙂

      2. YAAAAWWWWWWWN. (BullShit).

      3. I have been hearing about this event since early 80’s, so what is the timeline? Friends have quit long term prepping because for decades, nothing has happened. Credibility by “experts” is zero, because predictions are just hype, and people trying to sell stuff that most likely gets tossed eventually like y2k stuff.

        • Amen. Keep prepping. Keep buying the stuff you see in the margins of these web pages. Keep buying.

        • Excellent, excellent point LAnn. As Yogi Berra said, “It’s tough to make predictions. “Especially about the future.”

          Two things. First, you say there has been no crash. What was 2008: GM went bankrupt. AIG went bankrupt. Bear Stearns, Lehman and who knows how many others went bankrupt. If I had told you that would happen in 2004, you would not have believed me. If I had told you about ZIRP or NIRP, you would not have believed me.

          Also, people for years in the 1920s warned about valuations… and for years people blew it off. Better to be a year too early than a year too late.

          The truth is, according to Dr. Lawrence Kotlikoff (served under Reagan in Treasury, now at Boston Univ – google his name+unfunded liabilities) the TOTAL unfunded liabilities are around $222 TRILLION. How do, you, personally, think that will be paid off?

          It is, as I think Hemingway said to answer the question “How did you go broke?” answered “First slowly, and then suddenly.” (Probably not exact quote, but close enough)

          Preparedness is like insurance. I hope I don’t use it, either. Maybe it won’t be a catastrophic downturn, just a long, slow grinding one, in which they propagandize, dispense more Huxlian soma and blue pills. It also allows me a modicum of self respect, in that I am not dependent on someone else.

          IMHO, with 90 some million NOT in the work force, 40 some million on food stamps, the only reason people don’t think there ALREADY has been a collapse is as noted above. And what cannot continue mathematically, WILL not continue. No, I don’t know when. But I would rather have been able to say on Nov. 1, 1929, “Yeah, I missed the final (1929) blow off top, compared to you, but where are you now?”

          • Test: Exactly. There was a Crash. There has been no recovery for the masses, the economy at large, or Main Street yet.

            Cheap money was designed to TRANSFER massive wealth from the economy to the Multinationals and the Investment Class; THE ELITE, taking fully 40% of the wealth of the Middle Class in that transfer.

            Corporations used cheap money from low rates to borrow heavily maximizing their profit margins, while buying back corporate stock enriching the insiders who exercised their cheap warrants and options to buy the stock for next to nothing as it increased in value from the repurchases; collecting tens of millions of dollars from their “bonuses.

            This economy has a ways to go and any pullback or two could be a lot shorter than one would suppose. I would anticipate a few corrections along the way so that Corporate officers and bankers could prime the pump for NEXT Years stock options and bonuses; which is where they make the bulk of their income and wealth. 🙂

          • @ Test, I am so glad that some on this sight can see past the tip of their nose. You have hit the nail on the head. We had the beginning of our crisis in 08. You pointed out the companies that were bankrupt and saved by the tax payer. I would like to add one more piece of evidence. More young adults are living with parents than any time since the great depression. We look like the Waltons. I tell my wife, we can’t have a fourth turning if every thing is great.

        • Also, LAnn, tell me: How long were the Romanovs in power in Russia? Since 1613. Just like you say, people were predicting their demise for a long, long time, yet one day it happened. Bourbon dynasty? I’ll use 1272, though others may use a slightly later date. Hapsburgs? Maybe 1200 to 1400 or so. Same argument. Let’s change examples. The “reign” of currencies has rotated on a regular basis – British pound, Dutch guilder, French franc, etc. They all had their day in the sun, then died. Of course, most of them lasted decades, or in the case of Rome, centuries. But die they did. Who would have thought something called the horseless carriage in the 1890s would supplant thousands of years of horses? Some of these collapses are relatively sudden, such as 1917-18 Russia. Some take decades, like Rome – but one specific day, after a not quite thousand years, but close enough, on a specific day, August 24, 410, Alaric burst thru the gates of Rome and hundreds of years of people saying “I’ve been hearing this for years” suddenly found, too late, that they were being led off as slaves, if not killed outright. Same thing with the Jews in Germany: “Hey, this is the most civilized country in the world no way it can get worse.” Then a couple days in November 9–10, 1938 it DID get suddenly worse, and Jews could no longer get out (spare me the anti-Semitism here folks – that Jewishness is not the point of the exanple.)

          No one says you have to be frantic about preparedness. I just keep doing a little bit at a time. Like all insurance, it may never be used. In fact, I hope it isn’t. At the end of each year, I NEVER say “Darn! My house didn’t burn down again, and I didn’t get to use my insurance!!) Preparedness also means I have self respect. It was less than 200 years ago Henry David Thoreau wrote “Self Reliance.” Can we have deviated THAT much in the US and West from the self-respect that comes with self -reliance in just a few decades? Say it ain’t so.

          Jim Rickards would say keep balanced in your preparedness. He says you only need to put 10% in gold – that’s probably enough to protect you in hyperinflation. Although the Lord does know the beginning from the end, He generally does not tell us that – rather, we cling to Him and a day to day basis. But respectfully submitted, normalcy bias can get you in a big hea o’ trouble. I advise against. it.

      4. In the land of one plus one equals two the system we presently have cannot possibly continue indefinitely. We however live in magic land that is more like a stage play. The house fronts are fake, the props not functioning and every so often the curtain momentarily closes, a new set appears and life goes on. Maybe when the audience quits purchasing tickets the show fails, maybe its when the producers decide to cancel it. I do know that my limited education affords me no dependable insight.

      5. Got gold?

        • Got Bitcoin?

      6. “Gold has been around for thousands of years and has always had value.”
        Why? It has no value to me. Land, shelter, resources, education, and tools are my wealth.
        “Inflation will come back rampantly in this country”. Unless wages and other incomes rise no one will be able to pay the inflated prices, period, so prices more likely to drop.
        “Pensions have problems because they were never funded properly and the idea that somebody could retire and get paid their full compensation for 20 or 30 years is a ludicrous concept”
        My pensions are properly funded, some times at over 100%.
        But government and union pensions are going to take a hit.
        So what, I hate Democrats and Unions.

        • Where we live im 100% certain, ability to grow food, produce goods ( garden tools ,ie blacksmith of sorts to make other implements like machettes, knives, hand tools, make leather goods, sandals, cases, belts,straps, saddles) and having weapons, lots of powder and primers and bulletts, will be immensely valueable at some point in the not so distant future. Gold wont mean shit, but people will be in need of replacements for or just in need of the stuff i mentioned, right now, almost nothing is made here, locally our collapse will be the trickle down of the lower 48 going to shit.

        • Why gold have value is that it is uniquely fungible. You might want to look that word up. Why don’t we trade 10 bundles of wheat for one cow? Well, maybe the cow is sick. Maybe the wheat THIS year had mold. And one cow can be very different from another cow. Just a couple examples of fungibility that uniquely gold has. And its supply roughly grows at the natural rate of economies. Gold is uniquely liquid, and private. Your land has to be registered, can be taxed, and is not portable. The list goes on. By all means, your choices are good ones. But just make sure to diversify, including PMs

        • Selfish, much?

          Don’t care about anyone else as long as YOU’RE ok.

          What a jerk

      7. Industrial Unions only wanted a fair piece of the pie. Unfortunately those in control on Wall Street preferred paying third world labor cents per hour. US textile workers making $15 / hr was far too much to pay when Asian labor at 50 cents / hr was available. Safety is another issue. TPTB want the freedom of no prosecution when they kill 6000 people as was done in Bhopal India by Union Carbide.

        Unions didn’t destroy America, globalist International corporate greed, that holds no allegiance to any nation but calls on the US military to shed our blood in their foreign endeavors did.

        — Excerpt from a speech delivered in 1933, by Major General Smedley Butler, USMC.
        War is just a racket. A racket is best described, I believe, as something that is not what it seems to the majority of people. Only a small inside group knows what it is about. It is conducted for the benefit of the very few at the expense of the masses.
        I believe in adequate defense at the coastline and nothing else. If a nation comes over here to fight, then we’ll fight. The trouble with America is that when the dollar only earns 6 percent over here, then it gets restless and goes overseas to get 100 percent. Then the flag follows the dollar and the soldiers follow the flag.
        I wouldn’t go to war again as I have done to protect some lousy investment of the bankers. There are only two things we should fight for. One is the defense of our homes and the other is the Bill of Rights. War for any other reason is simply a racket.
        There isn’t a trick in the racketeering bag that the military gang is blind to. It has its “finger men” to point out enemies, its “muscle men” to destroy enemies, its “brain men” to plan war preparations, and a “Big Boss” Super-Nationalistic-Capitalism.
        It may seem odd for me, a military man to adopt such a comparison. Truthfulness compels me to. I spent thirty- three years and four months in active military service as a member of this country’s most agile military force, the Marine Corps. I served in all commissioned ranks from Second Lieutenant to Major-General. And during that period, I spent most of my time being a high class muscle- man for Big Business, for Wall Street and for the Bankers. In short, I was a racketeer, a gangster for capitalism.
        I suspected I was just part of a racket at the time. Now I am sure of it. Like all the members of the military profession, I never had a thought of my own until I left the service. My mental faculties remained in suspended animation while I obeyed the orders of higher-ups. This is typical with everyone in the military service.
        I helped make Mexico, especially Tampico, safe for American oil interests in 1914. I helped make Haiti and Cuba a decent place for the National City Bank boys to collect revenues in. I helped in the raping of half a dozen Central American republics for the benefits of Wall Street. The record of racketeering is long. I helped purify Nicaragua for the international banking house of Brown Brothers in 1909-1912 (where have I heard that name before?). I brought light to the Dominican Republic for American sugar interests in 1916. In China I helped to see to it that Standard Oil went its way unmolested.
        During those years, I had, as the boys in the back room would say, a swell racket. Looking back on it, I feel that I could have given Al Capone a few hints. The best he could do was to operate his racket in three districts. I operated on three continents.

      8. Mr.Sloan is a six sided star follower so he can go and fuck himself.

      9. Kevin2, thanks for a great description that tells the story perfectly. In the real world these stupid politicians can’t spend non-existent money.

        • cranerigger

          I tend to write in metaphors, sometimes I know what I’m saying but no one else does.

          With fiat “elastic” currency the ability to create more (from nowhere) to inject thus filling the loss of currency destruction via collapse of loan default is like magic. I think they can just about handle anything if it doesn’t hit too fast and be too large with one exception, the loss of the USD as the worlds reserve currency. Thats the nuke on the US economy. Wars are fought to maintain it.

          “In the real world these stupid politicians can’t spend non-existent money.”

          We don’t live in the real world. This is the part that confuses the hell out of me. Never assume stupidity is running the world, greed is. They’re actually brilliantly unethical.

      10. Hey Laura!
        Timeline? The timeline is when the rest of the world stops lending us money! The debt is at 20 TRILLION! you tell me when?

        • Many other nations already have stopped lending money to the USA. However, the “lender of last resort” remains: The Federal Reserve Bank.

          As most here know, this organization is not federal, has no reserves, and isn’t a bank; in essence, it is a Money Cartel — similar to legitimate cartels (e.g., OPEC) or illegal cartels (e.g., narcotics cartels). The FRB is merely a group of major international banks that has had a unique (and mostly hidden) arrangement with the federal government since 1913.

          The big question is this: Why would the FRB keep loaning money to a profoundly bankrupt nation? How in the world do they expect to be repaid?

          I find it hard to believe that some of the richest and most powerful banks in the world are led by people who are stupid, or who have failed to anticipate all probable scenarios. Any lender MUST ask “What assets does the borrower have, that can be attached in the event of failure to pay?”

          The federal government owns approximately half of the ENTIRE STATE of California. It owns about 61% of Alaska. Twenty percent of Hawaii. 85% of the entire State of Nevada. 38% of Arizona. 36% of Colorado. 13% of Florida. Over HALF of Oregon (53%). Almost TWO-THIRDS of Utah (65)%.

          The list goes on — for complete figures, take a look at this site:

          The federal government owns OVER A QUARTER (27%) of the ENTIRE NATION — over 620 million acres.

          Without taking outright ownership of any land — which might produce an embarrassing outcry — assignment of various rights on these lands could be quietly arranged, with the deals buried deep under “National Security” restrictions. Revenues could be secretly conveyed to the FRB without the public ever knowing.

          Imagine the value of water rights; drilling rights; mineral rights; grazing rights; highway toll rights; development rights; etc. etc. — on more than a quarter of the entire United States.

          I don’t pretend to be any sort of expert on these matters; but this seems like the most straightforward reason why the FRB will continue to bankroll the federal government for the foreseeable future.

          BTW, I have never seen this issue mentioned anywhere; I just asked myself what assets might be held by a seemingly bankrupt government, that would be attractive as collateral to major financial institutions…. and this is the answer that seemed obvious. I welcome the thoughts and insights of others on this topic. ~ KV

      11. What will be the real source of chaos will be the end – finally – of all the entitlement programs and socialist programs that are broke (i.e. Social Security, Medicare, Medicaid….). Most public programs such as education – schools, emergency services, law enforcement, county jobs, state jobs ……..will lack funding. It’ll be pay-as-you-go for everything. Welcome to reality people.

      12. Kevin, good post. How I wish General Butler was alive today and speaking truth.

      13. My economics education is near zero.

        Pension collapse means fewer customers for the goods and services available. Doesn’t that mean lower prices?

        Inflation because…?

        If the Russians, Chinese, and whoever else won’t take $1 for a widget, but require $1.50, then the import companies buying the stuff will get fewer items per dollar. I see that if the demand is high enough for that item, the price would rise because there a fewer of them.

        However, many items have a market based price, not a cost based price. If the widget cost goes from $1 to $1.50 but the price is $20 per item and the demand won’t allow the price to rise to $20.50 the seller has to deal with a lower margin than the $19 they used to get.

        It seems that the customers back home would (as many do now) conduct a triage. Ideally, I have to have water, food, clothing, shelter, utilities, and transportation to continue to exist as a surviving economic unit.

        Everything else is negotiable.

        How does the Chinese not taking $1 but requiring $1.50 for their chit affect the prices on my list?

        And how about if the Chinese charge $1.50 for the item, does that make room for some “home grown” American widgets? And isn’t that a good thing ?

        Immediately, I see some – clothing, some food items…

        However, Electricity and natural gas, oil, ..why should that cost more because Chinese hedge trimmers cost 1.5 times what they used to?

        We have a large service sector in our economy. Why does the price rise in hard goods and food from overseas affect how much I charge to clean your carpets?

        Economic geniuses, please help me.


        • bb,
          I think you got most of it right.
          I was a business major for a while,
          but figured out they are a dime a dozen.
          and switched to STEM education.
          Economics is really very simple.
          If you produce something people are willing
          to pay for you will have a market.
          If people need more than is available,
          the price increases.
          If there is more than people need
          the price goes down.
          All an MBA does is teach you how to
          use Mathematics such as
          Calculus and Statistics to
          optimize your business.
          I’ll bet you thought Algebra was
          a waste of time, just kidding.
          Good post!

          • Fellow STEMer (we did not know that back in the day)

            Engineer by education and avocation. Semi-retired now.

            Always loved Algebra…still use it for some problems, Trig and simple calculus too…


        • “Pension collapse means fewer customers for the goods and services available. Doesn’t that mean lower prices?”

          Yes and no. (Spoken like a true economist don’t cha think?)

          Yes because pension collapse means that those pensioners affected by the under funding of their pension plan and the consequences it means for their payout; funds that will not be forthcoming from their pension that they could use to purchase goods and services.

          These people will consume less, knowing that they will need additional funds for retirement. So discretionary spending will fall by those affected. Meaning that instead of going out to dinner they stay home; or instead of going to a theater they download Netflix.

          No because not everyone will be affected equally by the demise of their pension payments. Municipalities may choose to increase taxes. Phoenix is about 50% underfunded. A major collapse of the stock market could erode the Fund’s ability to pay retirees, but politicians (who also participate) will likely increase taxes across the board to generate revenue.

          These revenue (tax) hikes would only be temporary … of course … while services would be cut to see the Fund through a year or two of hard times (right). 🙂

      14. ” ‘He is saying “prepare yourself; your way of life in the United States is about to change.’ ”

        All of us here have known this for a long time. It probably won’t be the event he expects though. There are a whole lot of possibilities that could do it. As for what can we do? well, most of us here are already doing it. I know I won’t be losing a million in the Wall Street casino. I can sleep well.

      15. Of course there will be chaos. Thats why they call it a crisis.
        Think of all the people we know living hand to mouth right now.
        Then think how they will react if they suddenly don’t have one or two staples they depend on. They have had umpteen million years to prepare. Then they will be pressuring friends
        and family to bail their asses out. Americans never fucking learn until bad shit happens.
        Even then they still don’t learn. So keep buying Air Jordans and iPhones instead of preps.
        Keep drowning in debt with your new SUV’s even though there was nothing wrong with your old one. Central bank slaves. Shit is getting precarious and they can’t see it. I’ve been
        watching people buying bullshit Christmas items with credit cards. How stupid is that?

      16. For all the lazy entitlement pigs…..the day will arrive when those checks STOP. That is a fact. Nobody knows when, but it will happen. It’s the infutible laws of economic physics. I for one will watch the collapse, and not feel one sliver of sorrow for all these fat, dumb, and worthless consumers of my wealth. Yes, I resent having my hard earned money stolen from me by the IRS, and handed out to these masses of slobs. Don’t you find it ironic that they can demand that I subsidize the non-producers, but not demand that the non-producers produce.?
        Bring it all down man.!!!!!!

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