In 2008 the global economy crashed; most mainstream media, economists and politicians didn’t see it coming. A number of ‘alternative’ media and economists predicted the crash but were vilified and scorned, they proved to be right.
Now the mainstream media, economists and politicians are constantly trying to talk up a recovery, highlighting every possible positive. Those dissenting voices who were proven right last time are telling us another crash is imminent, only this time much deeper and much harder, because we never recovered from the last crash, we were prevented the opportunity to recover by the policies of the Central Banks, the BIS, IMF and World Bank.
The mainstream feel able to talk up a recovery because they are quoting false “official” figures that do not reflect reality, the methods of estimating unemployment and inflation (CPI/RPI) are subject to constant change, if we want a true reflection then these figures should be measured in a consistent manner. People have conveniently forgotten that in 2013 a whole school year failed to leave school, as unless they were taking employment or a government approved training scheme/apprenticeship they had to stay in education until the end of the school year in which they turn 17. For the next and subsequent school year, this applies until they are 18. This means that for the next three years at least, the unemployment figures due to school leavers will be completely skewed, appearing much better than reality. In addition, anyone claiming jobseekers allowance (not working) or in part-time employment will not count as unemployed, plus a number of disaffected people no longer looking for jobs, and an unknowable number of illegal immigrants. The official figure is quoted as around 2 million, the true figure is somewhere between 6 and 10 million, so up to 25% of the working age population, may be higher. We know these figures are false because the conservatives told as when they were in opposition, but they never reversed the process of fixing the figures.
Likewise inflation is officially quoted at 0.1, when in reality is probably nearer 4% or higher. The official figures are based on either CPI or RPI (whichever gives the most positive reading) and are based on a so-called “basket of goods”, however the contents of this ‘basket’ change if an item rises in price, compared to a suitable alternative. We only need to look at the price increases of postage stamps, public transport and utility bills to see the real cost increases, and a useful barometer is the price of private education. As prices of everything continue to rise, wages either stagnate or fail to rise even by the official inflation rate, so every year almost everyone gets poorer as prices rise and their wages drop. In real terms, adjusted for inflation we were actually better off in the 1970’s than we are now. We paid much less tax back then as a percentage of our income, many poorer families are now paying up to 80% of all they earn as direct or indirect taxation.
The alternative media and economists, the likes of Gerald Celente, Peter Schiff, Paul Craig Roberts, Doug Casey, Jim Rogers, Jim Willey, G. Edward Griffin, Richard Ebeling and many others are suggesting that the crash will happen this year (2015) and will happen in all sectors, the stock markets, bond markets, currency markets (FOREX), commodity futures markets (COMEX), derivatives and property. This would be total collapse, total economic meltdown on a global scale, involving every country. We have been in the eye of the hurricane since 2008/2009 and what lies ahead is going to be much worse, something never seen before, a total game changer. In response the price of gold and silver is expected to go stratospheric, increasing by 40 to 50 times (4,000 – 5,000%) or more.
It is still not too late to stop this happening, but the steps that should be taken, will not be taken, there are too many people in positions of power who are still benefitting from the global fiat money scam, the greatest Ponzi scheme the world has ever seen. The Central Banks have no plan B, or certainly not one they will even contemplate enacting, they may end up losing some money, and that will not do at all.
Consider the bank bailouts, where did that bailout money go first? It went to pay the enormous salaries and bonuses of the executives and the investment bankers. The average bank worker, unaware of how these banks really operate saw little or nothing of this taxpayer funded injection, indeed many lost their jobs, in Feb 2014 Barclay’s announced the closure of 500 UK branches and the loss of 12,000 jobs, 7,000 in the UK alone. But the bonuses won’t be stopped or reduced. In fairness, Barclay’s received no bailout (at least publicly admitted to). If any bank was too big to fail (TBTF) then there is something seriously wrong with the system, they should have all been allowed to fail, they are worse than on life support, they are zombie banks, propped up by the benevolence of the taxpayers, who never agreed to the bailouts, but are in debt because of them. What do the bank offer their benefactors in return? Absolutely nothing, if anything they are hiking charges and interest, whilst continually cheating their customers through various scandals, including mis selling PPI, Libor rates and many others we will hear about soon. The big banks are run by truly odious creatures, such as Jamie Dimon, CEO of JPMChase, who recently celebrated cheating the US treasury out of $billions in taxation, by throwing a lavish party at Buckingham Palace.
Not bailing out the banks, would not have brought an end to the financial sector, it would have brought an end to the very worst kind of vulture capitalists, in their place we might have seen the emergence of more responsible and ethical banks. Sure, a lot of perfectly innocent banking staff would have lose their livelihoods, but that would be as a result of their corrupt and reckless employers, who should be locked up and have all their assets seized for the carnage they have caused.
Total global (national) debt stands at around £100 trillion, but who is this money actually payable to? All money in existence right now is nothing more than debt (fiat currency), you can’t pay a debt with a debt. Therefore these debts cannot be settled, unless payment is made in something valuable and tangible such as gold or silver. This figure although large, is only a fraction of the overall indebtedness. Consider for example the state of the US, the largest economy on Earth. Its national (government) debt is just over $18 trillion, the total US debt (personal debt, mortgage debt, credit card debt, student loan debt) is a staggering $60.9 trillion, which is dwarfed by the unfunded liabilities of the US (social security, medicare, prescription drug liability) amounting to just under $128 trillion, giving a grand total of over $200 trillion. Even that is not the final figure, the banks have a derivatives liability of around $500 trillion, and this is just the US. Globally we are looking at a figure, probably well in excess of $1,500 trillion ($1.5 quadrillion). Total global GDP is only around $60 trillion. These figures are difficult to grasp, $1 trillion is a vast amount of money, see here to get an idea what it would look like in $100 notes.
Just imagine what will happen if and when this entire Ponzi fiat scheme comes crashing down, and it will, maybe not this year (2015), maybe not next, but it will eventually, and the longer this goes on, the worse it will be when it happens.
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