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Here is a brief summary of the events to unfold.
1. The Anglo-Saxon financial institutions will continue to haemorrhage as investors withdraw their funds and no longer refinance loans as they fall due. Many of the investors are foreigners who have lost confidence in investing in the Anglo-Saxon banking system.
2. The fall-out is impacting the European Union economies, resulting political and economic changes is how the way the EU is govern.
3. There will be a lack of confidence by the Asian countries in reinvesting in the Anglo-Saxon nations the withdrawal of their capital will result in the collapse of the US dollar, British pound and other currencies depended on the carry trade, followed by national bankruptcy.
4. While Asia and European economies will survive and once-again prosper, the Anglo-Saxon nations will collapse into deep depression, poverty and social disintegration.
5. A new economic model will emerge, where the State replaces the private sector, exercising control over the population in how commercial activity is conducted.
From Peter Schiff's weekly email:
The Beginning of the End
October 10, 2008
...In the end, by refusing to allow market forces to work their cure, our economy will inevitably die from the disease. Our economy will now face death by hyperinflation, which will cause a complete loss of confidence in the dollar and result in prices and interest rates skyrocketing out of sight. The evaporation of our national wealth will lead to civil unrest, food and energy shortages, and the possible imposition of marshal law. If such a scenario unfolds, what is left of our Constitution will surely be completely shredded...
-- Peter Schiff is the President, Founder and Chief Global Strategist for Euro Pacific Capital. He is widely acknowledged as a expert in international markets, and in global economic strategy. He is a speaker at all the major investment conferences. He is regularly featured on CNBC and Bloomerg TV , and often quoted in the Wall Street Journal, Barron's, New York Times, the Financial Times, Investors Business Daily, and many others.
Originally posted by RFBurns
So if it goes down for the population, it goes down for them too.
Guess they havent thought of that yet, too busy trying to be so rich that they have become brain dead to the fact that all of this is like loops in a chain. Once the first loop breaks, the chain is worthless.