Many Predict US Financial Collapse in September

I'm no financial expert, but as far as I can see, we're nowhere near where we were during the Great Depression. We recovered from that one. I see no reason why we can't recover from this.

From what I've read about the Great Depression, it occurred when overextended banks couldn't collect on their loans, and when their other investments - mostly in the stock market - failed. Years of irresponsible loans in an unregulated industry resulted in the collapse of a large percentage of these banks, rendering the savings of ordinary folks worthless.

We essentially have the same situation today - an unregulated banking industry got greedy, made loans that they knew wouldn't be paid back, and are now in jeopardy.

The problem is that the powers that be tend to assume that the banks will do what's good for the bank. This is pure nonsense. The banks will do what's good for the top management of the bank. These people will gladly make risky loans to show a nice "income" on the books, even though they know there will be no income from some of the deadbeats. The nice year-end balance looks great, and management gets big bonuses. Then they leave when things start turning sour.

Corporations do what's good for the decision makers, not for the corporation. This is why deregulation doesn't work.

I don't know what's going to happen this time. Probably we'll need to have a "Bank Holiday" as we did in 1933. Is that a bad thing? Probably not. The weak banks are going to fail, whether we have a Bank Holiday or not. If we don't have the Holiday. some of the stronger banks are likely to fail as people run to close out their accounts and get their cash out. Close the banks for a while, weed out the failing ones, and have the stronger ones validated - that could easily stop panic runs on the banks.

What we didn't have in 1933, that we have now, is the FDIC. During the Savings and Loan debacle in the early 1990's, the FDIC made good on the deposits. One thing this means is that a run on your bank is pointless, if your deposits are covered by the FDIC. There are two possibilities. Either FDIC will make good on its guarantee, in which case you probably won't notice any differences. Or the FDIC will be overwhelmed, in which case your cash will probably become worthless.

FDIC is backed by the "full faith and credit of the United States Government", which implies that your deposit should be covered as long as the United States is in power. In reality, the government is free to renege on this guarantee at any time. Doing so, however, would likely have disastrous national and international consequences.

If you're *really* worried about losing your money, then what you might consider doing is buying metallic gold - not gold bonds, not stock in gold companies, but simply ordinary gold metal. Keep that on hand, well-hidden, and hope that if things fail, metallic gold becomes a medium of exchange.

Would the financial collapse in America effect countries like Australia since we use the dollar? If so, what could we expect down under? Would the dollar become useless also? I just want to be prepared when SHTF.

I never did understand why people insist removing your money from the bank when the collapse happens.

Why would you do such a thing if the dollar itself collapses? It's useless.

There's not much you can do, at all.

Originally posted by asmall89
I am totally having de ja vu in regards to last year. But it is a different game this time.

Here's how I believe it will play out. The Health Care bill will pass and possibly the Cap & Trade bill before September (possibly early to mid August). This adds probably another 1/2 to 1 trillion dollars on to our deficit, not to mention high taxes on the rich. The market will peak in July and start to decline in August. Anyway Health Care & Cap & Trade would be the stake in the heart so to say, it would make our yearly deficit exceed our GDP which will put us in a tight spot. During the month's of September & October the dollar will start to devalue quickly, & there will be much unrest and politicians will be seeking a solution, an idea will be proposed to create a NAU currency and will most likely be put in place. This is my opinion and what I regard as the most likely scenario if the Dollar is to collapse this fall. I don't think the politicians would be having the policies they are now, unless there was a NAU endgame. I mean raising taxes in a bad economy? C'mon.

Anyway it is interesting, last year the collapse period was speculated to be around September & October, & they were right, it will be interesting to see if they are this time around. Those month's definitely hold much significance relative to the markets.

Got some news for you.
Even the Dems don't like the Cap & Con.
It's a job killer. A job killer DURING a recession?
Thank you very much. That is wonderful way to fill congress with
90% republicans. I don't see that happening. Lose the House and
the Senate? The choice is theirs.
Health care will be watered down to nothing in the senate and
be made back into the ObamaCare with a whiz bang
reconciliation disaster bill. Doctors will quit in droves.
Welcome to ObamaCare. Please take a number and
do us all big favor and just die before the doctor sees you.
Have a nice day......next!

As much as I would love to see a total collapse and end up having to live off the land and give up this cushy lifestyle for a life of survival and adventure... it ain't gonna happen!

America is too big to fail. We're at the top of the food chain. They keep saying there is going to be a "meltdown". Where? The lights are still on.

Jul19 Article
Sorry if somone already posted that.

If anyone has advice for me, I'd appreciate it. Im economically clueless.

I'm 22, have a little over 10k in 2 banks. I'm moving to a big city in 2 weeks to begin a pharmacy program. I will get student loans for my tuition and a monthly loaned allowance of about 900 to live on. I have no debts, I've been working in a factory to pay for school and save money to this point. The tuition for the program is ridiculous so I have to borrow.

If the banks fail, would I have to drop out of school? And, how should I prepare for this potential disaster. I will be living in an apt about 0.5miles from where my classes are, so no driving. But, I will be living in the middle of a city with almost a million people, now I'm in about 10k people town.

I have emergency savings, the 10k, what should I do? Also, I don't know anyone there, it is about 6 hours driving from where I'm at now.

Subjectively, I feel that this economy is getting worse quickly. Things changed last summer when gas peaked. It seems like prices never fell back like they should have if gas was the only reason for their increase. I think something else raised prices. I may sound paranoid, but I'd rather be over prepared than homeless or worse.

[edit on 19-7-2009 by BenIndaSun]

reply to post by Eurisko2012


Your correct Cap & Trade isn't as popular, but I just said it possibly could. On the other hand Health Care is much more popular amongst Dems, and is more likely to pass. Assuming it is not watered down it probably could be what kills the Dollar or economy this Fall. I don't think if this happens that it will be 90% republicans next time around. If anything it will be balanced, or third parties will come in, both parties have screwed us into our current mess. I was just merely suggesting this would be a possible out come if Obama's agenda with Health Care & Cap & Trade is fulfilled. Just my opinion! With these peoples last years predictions being somewhat accurate, I don't think these ones are out of context.

reply to post by bryanku


Bryanku asked what's in your bugout bag? well here's my list and a little explanation to boot. Of course what's in your bag will depend on where you live and what season it is as well as how much you are physically able to carry.

here ya go


 Medium A.L.I.C.E. pack      (military surplus)                                                            
 1-Wool blanket converted to Poncho -                                                                             2- water Filter, Katadyn hiker model
 3- Extra eyeglasses 
 4- Prescription Medications                                                                                              
 5- Potable Aqua tabs                                                                                                    $10
 6- Leatherman tool - many models to choose from.  Buy a quality tool!
  Essential features are blade, can opener, pliers, wire cutters and file
 7- Insect repellant
 8- Hand sanitizer
 9- 9 mm pistol  (customized Tokarev with night sights, Hogue molded rubber grip and extra clip). taurus makes good pistols at a decent price.   
10- Shotshells for small game -         
11- Non hybrid vegetable seeds - choose easiest to grow for your area -    
12- Mousetraps (2) - yes, for mice!  They will chew through packs and clothing,
       eat you out of house and home then pee in everything they don't eat!  They also carry deadly Hantavirus.
13- Fishing hooks and line
14- Sewing kit
15- First Aid kit - SEE BELOW 
16- Plastic canteen   (2)        
17- Canteen cup (stainless steel)     (2)      
18- Edible Wild Plants book (peterson's field guide)-available used at Amazon.com
19- Emergency space blanket  (2)                                                                          
20 -Trioxane fuel tabs
21- Gerber sportsman's saw    
22- Mora knife and sheath  
23- Bic lighter,
      Lansky  field knife sharpener          
 Waterproof matches      
24- Magnesiun fire starter          
25- Maglite flashlights with spare batteries    
26- Nylon rain poncho    NO PVC or rubberized    
27- Bandana
28- Camouflague Headnet  
29- Spare socks
30- Cordage 50' each type- parachute cord and spiderwire™
31- Compass
32- Roll of spiderwire fishing line       
Small Bottle multivitamins
Maps 
6 various size heavy duty ziplock bags
2 waterproof stuff sacks                                                                                    
3 black plastic heavy duty garbage bags
ALSO:
Food  - Dried, several pounds of each -  jerky, nuts, rice, dried fruit, granola, tea    (MRE's are too bulky)
Small bottle of salad vinegar - Wild greens are a substantial portion of a foraged diet and a little vinegar goes a long way towards making them more palatable.
Monocular or binoculars
9mm ammuntion  -  100 rounds
Ruger 10/22 rifle with 4x scope - Due to physical limitations, weight is the primary consideration for me. . 22 ammo is very light, so I can easily carry 500 rounds.
 Subsonic ammunition is extremely quiet and I pack 100 rounds of these also.
 
Clothing
Hat, boonie folding type
Wool watch cap
Gloves
1 set medium weight polypropylene thermal underwear
Spare Clothing - pants, 2 shirts, 2 pr underwear, 2 pr socks, fleece pullover

Personal Care Items
Spare pair of eyeglasses
Toothbrush
toothpaste
Soap
Comb or brush
Nail Scissors or clippers
Small mirror

First Aid Kit
Extra prescription medications
Povidine-Iodine wipes
Alcohol Wipes
Antiseptic Cream
Acetaminophin
Aspirin
Goody's powders
Bandages
BandAids
Pain Medications - Percocet, Darvocet, Vicodin (whatever you can get )
Sinus relief pills
Eyedrops
Dental repair Kit (for making temporary fillings)
Tweezers
Moleskins for foot blisters
Small tube of vaseline

Got it? I will follow up this post with another                 

reply to post by projectvxn



Spot on spot on, The US is to big to maintain especially with the lifestyle that we are accustomed to. Also that $134 billion in US bonds that the 2 Japanese had and where let go without even the Italian police naming the individuals tell me that these bonds where real. For one the secrecy of the US and Italy and Japan and the MSM in regard to this "counterfeit" of the century. At the very least the US would have demanded them to be handed over to the US with the bonds in order to find out who was making them and who else is behind them. And two for somebody to come up with treasuries to sell in Switzerland tells me that they are at least sophisticated, sophisticated enough to know that they wouldn't have given even Ben Bernanke 134 billion dollars in actual currency without checking those numbers in triplicate and actually taking a week or two to verify every and all of those bonds. It would have been easier and smarter for a counterfeiter to make 1 to 2 million dollar ones which are smaller and wouldn't attract notice. 500 million a bond for a total of 134 billion would have flagged the financial system big time.

No, those where real and the Japanese where trying to get rid of that junk. What has me thinking is if the Japanese Treasury was wanting to get rid of them, why didn't they just send these individuals and the bonds by govt. jet with the bonds in diplomatic pouches to the embassy. Then all the would have to do is walk in bright and early the next morning and get rid of them a little at a time. I mean that would have been alot easier than having the same two make a suitcase with a false bottom and take a train overland to Switzerland. Either the Japanese govt. is dumb (I doubt it), or they don't trust their embassies (they've been compromised) and we have people in them reporting any fishy thing in regard to money. Another thing, Hal Turner (I don't believe in alot he says) was arrested for incitement very shortly after he showed pictures of the bonds close up.

Something is going to happen this fall in fact Sept sounds good because many of the stores and shopping centers will have to get ready for the holidays and nobody has no money. This christmas season is going to be horrible and many of the stores that have been going bankrupt make much of their money if not a large percentage during the fall season. CIT just today have gotten a deal from some of their bondholders who have bonds coming due this August (PIMCO etc. etc.) have agreed to finance CIT to the tune of 3 billion dollars. It won't help because stores will continue to go under because nobody is buying enough and the consumer is debt ridden. And since they will go bankrupt, they won't be able to pay back their loans from CIT (which is the biggest small business loan originator).

Also, the US still needs close to 2 trillion by the end of this ear to fund all of promises Obama and Bush made. And guess what we are buying alot of those treasuries using offshore accounts. Because China is sick and tired with the rest of the world in buying our debt and two, thats a crap load of money to borrow on top of the 2 trillon that china is reported to have already, and that took them years to get. And it is correct that we came out of those other recessions, but as you said and I agree that was manipulated in order to not let us take our fiscal medicine. Everybody should think why was it so important to get that martial law article set up into law by Bush, it's because he and Obama and everybody know that people are going to go crazy when their SS and welfare and bank deposits and medicaid payments and pensions (both public and private) along with the dollar aren't worth anything. They will be looking for people to blame and the only ones will be the banks and the govt..

reply to post by CUBD1


EXACTLY!! nothing is going to happen. the economy has slowed down but by no means is it the great depression.

More on the survival kit/bugout bag

This is for anyone concerned about their safety and that of their loved ones in the event of a natural disaster or martial law. In an earlier reply I posted what I have put together for myself in the case of a real emergency, where living "off the land" and off the grid are the only option.  This includes nearly everything a person might need (except food) to survive for several months or longer. All the items have been field tested and were chosen for their quality, weight, size, cost and usefulness. For example, the reflective space blanket can not only help you keep warm, it can be used for signaling, drying fruits and meat with solar energy, collecting dew for drinking water as well as serving as a cover to hide you from infrared imaging. All for less than one ounce of weight in a 3 1/2"x 2"x 1"package.
   As for firearms I would recommend getting the best quality you can afford. Pistols should be either 9mm or .45 caliber since pistols are generally for self defense and not hunting.
 Rifles should be .22 cal (the Ruger 10/22 with a 4x scope being my favorite model for small game hunting) or .223 Nato (AR15, M16) or 7.62x39 caliber (russian SKS and AK-47). The Russian 7.62x39 cartridge has far better knockdown power than the Nato/US .223 round but is a heavier bullet. SKS and AK-47 are the best value in rifles, with the SKS being well suited for women and adolescents as it has a shorter stock.
Shotguns are excellent for close quarter fighting and hunting but shotgun shells are heavy and severely limit the amount one can carry.  
    The .357 magnum, .44 magnum and .40 cal are also widely used pistol calibers with many law enforcement agencies now carrying the .40 cal. as their standard sidearm.  Also include a gun cleaning kit (some sks models have one built into the stock).  Bipods, bayonets, laser sights, variable power scopes and the gazillion other accessories available are mostly useless).  The only good addition for any rifle is a quality scope ( waterproof / fogproof ), a night vision scope (uber expensive) and a flash suppressor.  Make sure your rifle or shotgun has a wide, comfortable shoulder strap.  A take down bow could also be very good IF - A) you are a very good shot and B) you can make your own arrows in the wild. 
  
      This is the result of over 20 years of trial and error (lots of error!) of teaching and practicing survival skills.  Without experience most people would try to pack everything with them INCLUDING the kitchen sink.  It doesn't take a fortune to be prepared and I would encourage you to forward this to anyone who you feel may benefit from a little preparation just in case things do go wrong.
 It is my sincere hope that you will never have to NEED this pack but in a real emergency there simply is no substitute nor will there be time to try to put one together.  At that point it will already be too late. Remember, in the wild you are never lost, you're just discovering a new part of your home.

reply to post by Asktheanimals


OMG....you ARE prepared!
Where are you going with all that gear?
A safe place for you would be Flagstaff, Arizona.
It's beautiful. Pine trees everywhere.
Elevation is around 6,900 feet.
Not far from the Grand Canyon or Sedona.

P.S. I'll pass on bringing the mouse traps.
How many bullets fit in your 9MM clip?
What are you going to shoot at with that 22???

[edit on 19-7-2009 by Eurisko2012]

reply to post by Rams59lb



The, what was it three trillion?, that were lost into a black hole was under Obama's administration. The Bush administration made many mistakes, and might have even done some stealing of our money, but nothing like what has happened during the Obama administration, which has only been in power in less than 8 months. Even knowing that we were in an economic crisis Obama's inauguration was more expensive than ANY inauguration of any president EVER... Not to mention the whole "Greek/Roman temple" inauguration which seemed to proclaim Obama is the new Caesar....

Since then the Obama administration has NATIONALIZED GM, and Obama himself has been repeating he would save 600,000 jobs meanwhile Americans have been losing 500,000+ jobs a month for several months now... Not to mention that the new "Caesar/Saviour" has been calling what CEOs should be fired, and which ones shouldn't as well as ordering GM and other auto manufacturers what sort of cars/trucks they should be building... This only happens in SOCIALIST DICTATORSHIPS.

That's without mentioning the Obama administration has given total control over all learn, and serve based programs to something they call the "Corporation", which now has more power than ever to indoctrinate students, and even teachers, and professors into whatever this "Corporation" wants Americans to be indoctrinated into.

Yes, during the Bush administration bad things happened, and some laws were written to the extremes, but nothing compared to the DHS, and Janet Napolitano's report which labels most Americans as "possible terrorists" including returning veterans, any American who wants the government to uphold and defend the Constitution, and the Bill of Rights in it, which includes the Second Amendment, and of course, anyone who doesn't accept right away any of Obama's policies, or fears a "Global government", or fears "Communism".

I keep asking the Obamatrons why is it that Communism is specifically mentioned as being a threat to this administration if you "fear it", but of course the Obamatrosn can only respond with the racist card, and with insults because they don't want to accept the truth.




[edit on 19-7-2009 by ElectricUniverse]

reply to post by Asktheanimals


thats fantastic. just a quick question does all this stuff fit into one backpack or are there multiple bags that you need. i know those massive back packs can hold a lot of stuff.

Originally posted by GorehoundLarry
I never did understand why people insist removing your money from the bank when the collapse happens.

Why would you do such a thing if the dollar itself collapses? It's useless.

There's not much you can do, at all.

So you have a ready supply of TP???

Actually it's because if the currency doesn't collapse but the bank does. If you didn't take the money out in the 30's and your bank failed you lost all of your savings. Modernly there is a federal program to make sure you get a portion back... But yes if the currency crashes completely then it's worth the value of paper.

Thanks for the response, it appears to have been very helpful to everyone on the thread. One thing you forgot was a bottle of tequila and silver/gold coins, what would you barter with or are you planning on going it alone limiting all human interaction?

Originally posted by exile1981

Originally posted by GorehoundLarry
I never did understand why people insist removing your money from the bank when the collapse happens.

Why would you do such a thing if the dollar itself collapses? It's useless.

There's not much you can do, at all.

So you have a ready supply of TP???

Actually it's because if the currency doesn't collapse but the bank does. If you didn't take the money out in the 30's and your bank failed you lost all of your savings. Modernly there is a federal program to make sure you get a portion back... But yes if the currency crashes completely then it's worth the value of paper.

What if we switch to a cashless economic system in order to harness
the underground economy?
I heard that if the U.S. Government taxes each and every transaction
5 cents we could payoff the national debt in 2 years.
Instead of cash and coins we would all have a Green Dot Visa Card.
You will not be able to buy, sell or trade unless you have the card.

reply to post by Asktheanimals



You forgot to mention some good water filters, i have several, I have also portable power sources. Yesterday we had a mayor blackout around the town where I live and over 18,000 people were left without power for a bit over 8 hours, but i had uninterrupted power because of the batteries, and powersources i have which get their power from me pedaling as if I was running. With about 30-40 minutes of pedaling i can completely charge the two batteries, which are portable, and two weza portable rechargeable power suplies, which are also portable.

It is also a good idea to have gas masks, with repleacable filters, as well as iodine pills just in case we are attacked again.

For long term food, it is a good idea to have at least a couple months of canned food, as well as organic seeds for whenever you are able to settle down and plant seeds.

All of this will take more than a backpack, but out here you need power sources to keep you warm with a good portable heater, a small good fan will also help you out in case it gets too warm in summer.

Cooking utensiles, and if you are able to have some silver, or gold it is also a good idea.

Having some books on survival will always be a good idea also.

As Asktheanimals said in his post, those weapons, and calibers are good, and if you can you should have at least three different caliber of weapons.

I also have a .177 caliber air rifle which fires at 1,200 fps and it is exellent for small game. Not to mention that the ammo it uses is the cheapest.

Believe it or not I have a portable outhouse for taking long showers, with a solar shower which will heat 5 gallons of water with only the Sun as power, as well as a portable toilet, both which will fit in a good backpack leaving plenty of room for other items.

One thing that Asktheanimals didn't mention is that instead of having a bow, a crossbow is better, and remember you can reuse the ammo for larger prey. A crossbow is much better than both a rifle, or an airgun because it is quieter, and won't give away your possition as much as other weapons would.

Even the silent air rifles which supplosedly lower the noise 52%, but is a lot more expensive, is a lot louder than an xbow.

When you are out in the wild, and more so during winter, it is a good idea to have with you chewable C vitamins for kids. Those things will help you not catch a cold, and taking about 3-4 a day will help you stay healthier.

Also, if you have to hunt a lot of small game, ALWAYS remember that small game don't have a lot of fat, and if you live for too long on small game, you will get sick from the lack of fat soon enough.

You can forget about buying any food low in fat, you NEED FAT when you are living in the wild, and of course lots of water, so have with you good portable water filters.

On winter you can eat snow for water, or you can heat it up and drink some warm water which will help you a lot more than just drinking cold water. Remember that when you eat cold food, or drink cold water it takes more energy for the body to process that food, and or drink, and of course warm water will keep you warmer, but if you have no other choice eat snow. It is always a good idea to take off an inch or so of snow before you use any snow for drinking.

BTW, on winter it is easier to get dehydrated faster because you might not notice it as much as on summer.

Have with you also about 3-4 firestarters for long-term survival, as well as a good tent, and a sleeping bag. A space blanket helps you a lot, but not as much in winter, in winter you need a good sleeping bag. Also have with you some flashlights, and radios that recharge by cranking, CCRadio sells those, as well as Sportsman's Warehouse for about $40 for each flashlight, which use LEDs, and about $100-$$200 for a good radio.

If you are with your family have walkie-talkies for each member of your family, or at least one per two people, and always when going out for hunting, and to get water, or wood, go out in groups of two.

There is a lot more to be learned, and it would be impossible to cover it here, so it is ALWAYS a good idea to have some survival books, as well as first aid books.

I have several books on survival, first aid, books on how to distinguish edible plants, and medicinal plants as well as roots which i can carry in my backpack, and of course a good map, if possible one sealed in plastic, so it is more durable and won't soil because of water damage, or snow damage.




[edit on 19-7-2009 by ElectricUniverse]

One more thing that is VERY important, if you, or a family member, or friend get bitten by a snake NEVER, EVER try to suck out the poison, or you both will die. As fast as you can put a tourniquette between the heart and where the snake bit you, or your relative, or friend, and make an incission so that blood and as much as the poison gets out of the bloodstream. There are some bite kits, which are similar to syringes, and can suck poison, and blood, but always put first a tourniquette between the heart, and the bite. if you are going to use a snake bite kit, always shave the area if there is hair.

Don't EVER believe all those Hollywood crap movies, where a person sucks the blood, and saves the day, you will only get yourself, and the person bitten killed.

Also, ALWAYs check where you are going to do a number two, and CHECK WELL... You won't believe the fact that even Marine instructors have gotten bitten in the butt by a poisonous snake, for not checking well the place before taking a dump.

And of course, after doing this SEEK MEDICAL ATTENTION, if possible take note of what kind of snake bit you. The small ones are the worse, because young snakes don't have as much control over their venom glands, as adults, and the young ones will inject more poison than the bigger/older ones.

[edited to add comment]

[edit on 20-7-2009 by ElectricUniverse]

A couple more things worth mentioning. When out in the wild ALWAYS bury your excrement, and bury it well, otherwise predators can follow your scent for miles. If you have plastic bags do your business in the bag, and bury it at least a foot and a half in the dirt. After you eat, don't ever leave your food, nor even scraps in your tent, or close to it, and brush your teeth if you can.

It is always also a good idea to have resealable bags where you can put your unused food, put all for food inside a bagpack, or a bag. Find a high sturdy branch in a tall tree, a 15- 20 foot high branch, and with a rope hoist your bag in the air, at least 12 feet up high, and if possible 5 feet below the branch so it is harder for critters that can climb to get to it, and have the bag about 5 feet away from the trunk of the tree.

Also, when hunting, and if you don't want to be found shoot ONLY ONCE. If you shoot twice or more your possition can be made, so make good use of your one shot if you have nothing else than a rifle, or gun to hunt, and always carry a good long knife.

Anyways, enough lecture on survival, get yourself some good books on survival.





[edit on 20-7-2009 by ElectricUniverse]