WORLD BANK BOSS: We're Headed For "Impending Catastrophe" -- "A Rerun Of Great Panic Of 2008"

WORLD BANK BOSS: We're Headed For "Impending Catastrophe" -- "A Rerun Of Great Panic Of 2008" Read more: www.businessinsider.com...

www.businessinsider.com

The head of the World Bank, Robert Zoellick, is about to step down after a 5-year term.
That means he can say what he really thinks.

(visit the link for the full news article)

Even the head guys are saying what we all feared (obviously knew) would happen.

If it was so obvious for lay people to predict what was eventually going to happen, why was this drug out with bailout and austerity measures? What did we gain from prolonging it? More time to spend with our loved ones before the SHTF? Or more time for the fat cats to get their house in order before people come for them?

I think whatever happens is very unfair to the nations in the Eurozone, because they naively held faith in the people that are supposed to know what is best for them.

Strikes me as ironic when you have people like Christine Lagarde basically telling people, "Sucks for you that we made a mistake, DEAL WITH IT."

Anyways, the walls are about to come tumbling down.

We might see the formation of a new government in different countries in Europe and here in the US. Wonder what abominations we will have in store?

www.businessinsider.com
(visit the link for the full news article)

I think we have already been there considering my paycheck is less than inflation. My goodness. $7.00 for a box of Honey Nut Cheerios. I just about keeled over. They must be making that cereal with gold man.

Well Id say their plan to bring the world econnomy to its knees is working as intended...

Mandatory 2nd line.

Good time to prosecute the high ranking bankers.

Let's do it.

reply to post by satron


I thought an ex-text of what he said would be helpful for those who haven't yet clicked the link (which leads back to the daily mail article):

Here, via the Daily Mail, is what he really thinks about what's going on in Europe and the global financial markets:
financial markets face a rerun of the Great Panic of 2008.
It's ‘far from clear that eurozone leaders have steeled themselves’ for the looming catastrophe amid fears of a Greek exit from the single currency and meltdown in Spain.
‘Events in Greece could trigger financial fright in Spain, Italy and across the eurozone. The summer of 2012 offers an eerie echo of 2008.... ‘If Greece leaves the eurozone, the contagion is impossible to predict, just as Lehman had unexpected consequences.’
'There will not be time for meetings of finance ministers to discuss the outlook and debate the politics.... 'In panicked markets, investors flee to safe assets, sparking other flames.’
Cheery stuff.
Zoellick's recommendation?
Huge, quick government bank bailouts.
In the meantime, the world, waits...

Read more: www.businessinsider.com...

He doesn't want the bankers brought to their knees......HE WANTS ANOTHER BAILOUT!!

reply to post by wildtimes



Thanks for including it in the thread. I wanted to include more, but I didn't want to copy and past the whole article, as it's not very long.

This bailout crap has got to stop. It's the people that are taking on this negative karma from banks, and we are told to "improve, become more efficient"

Well, why don't they step it up!

reply to post by satron


these are a couple of other articles which elaborate a little further... thank you for the post, this rush of news was triggered by this article in the financial times on friday...
www.ft.com...
www.reuters.com...
it's clear to me that euro-american dominance of world finance is coming to an end. this is not entirely a bad thing but it's gonna a be a bit harsh on the poor people. nobody is representing their needs right now.... ;-(

reply to post by satron


I agree it's high time to stop them. These bail-outs and all this tail-chasing is ridiculous, damaging, dangerous, and...dare I say it....STUPID. It's like duct-taping your car's engine back together rather than repairing it.

I hate it. BANDAIDS (registered trademark ) DON'T CURE CANCER!!

reply to post by satron


Don't buy it! That's just whats happening to them. They've finally reached the limits of what the peasants can afford to pay in usury. It's game over for the elites.

Don't panic. We shall prevail and there is an incredibly glorious outcome just around the corner.

Don't live in fear. It's about time those greedy people learned there are limits to any parasitic feeding from the host. They've past that point and don't know who to blame. Soon they will be at each others throats trying to screw each other.

Live in love and forgiveness. No matter what you hear, and soon you will start hearing things intended to make you very mad, WE MUST FORGIVE lest they use our anger against us as they have done for centuries.

reply to post by satron


This bodes well for the US dollar. Investors buy BONDS when markets are in trouble.

There will not be time for meetings of finance ministers to discuss the outlook and debate the politics.... 'In panicked markets, investors flee to safe assets, sparking other flames.’ Read more: www.businessinsider.com...

Originally posted by wildtimes
reply to post by satron

 

I agree it's high time to stop them. These bail-outs and all this tail-chasing is ridiculous, damaging, dangerous, and...dare I say it....STUPID. It's like duct-taping your car's engine back together rather than repairing it.

If you stop it you ain't gonna change anything! Let it burn and watch the show. You cant stop the volcano eruption by simply spitting on it! Everybody talks about "we must.... bla bla" but noone takes any action. Writing is not an action - it is only a repetitive behavior. You would be very surprised to know how many people actually know what is really going on! Less then you hope! When it comes to 1930s scenes all I am going to do is whatch them suffer and suffer and suffer and suffer! These volks got their free credits and thought they could have anything without having a real job! 250k houses, 100k SUVs, 120k college degrees.... what did you think the outcome would be - happines, love and kisses? Hell is upon the poeple, right here - right now! Enjoy the moments when those money/credit hoarders jump of their 250k borrowed money houses. I will even bid on daily borrower suicide counts.

"Arbeit macht frei" - Hitler....

Was he may be right all along with that philosophy?

Trade with hard earned real money - then you will see that all will be fine!

Should the casino stock market tanks - no need to pity them. 'investors' ( gamblers ) took their own risks, and must pay for it. JP Morgan is not the only whale in the world. The guy who took them out needs no accolade. It was not his money that took JP Morgan down.

It was someone else, for bigger than whales. They are the levithians. Think China and India's unimaginable huge funds. JP Morgan is nothing more than mere planktons in the great ocean where monsters ruled in that casino game, to manipulate the markets for a desire outcome that would be detrimental to foolish small fry investors presuming that they can earn some 'hedge against inflation'.


Should the banks fall, as it rightfully should, CLAW every single cent back from CEOs and management teams of failed banks. Check through all accounts, including their next of kin, to claim it back to pay back every single depositor whom had foolishly trust their upfront solidness but backroom unconscionable deals. That's the ONLY obligation govs can do. Bankers are responsible for their errors, not taxpayers. Bunch of weasels the bankers are, as mankind realizes today. NO MORE BAILOUT OF BANKS!


All govs MUST use GDP revenues for the People instead of bailing out banks. No more of that BS. It had failed and will only doom us all. Growth is the mantra right now, nothing else matters. Meeting needs with quality production/services is the only answer to save us all now, with that correct path to higher GDP.

Creative minds are needed right now. Not bean counting folks. The blame game and accountability will come later when all is settled.

Fortunately, much of the world's wealth is in US banks in these panicky, and will be kept secure, such is the reputation of US over time. However, the dollar's value must continue its natural course, which is downtrend as is a truth for the entire world economy is slowing down. Downtrend dollar will help push american exports, keep its prices low and accepted by others.

As the world economy continues to slow down, manufacturers will have to be realistic and lower their prices of goods exported or created locally, otherwise no one will buy those goods. Thus if a dorito cost $7 today, hang on, tighten the tummy with a belt. It will have be realistic if it wants to be sold at ALL.

reply to post by stanguilles7


Perhaps.....but the markets are in trouble because the US government is insolvent too and won't be able to repay its debts....

This whole banking crisis is classic illuminati tactics.....cause a controlled destruction, pass the buck onto the little guy and out of the ashes the Phoenix rises, a symbol of Lucifer and their more integrated and top down controlled economic grid established

The problem with the world economy is very simple . The share / futures market is to blame, how can an economy survive when people who produce nothing whilst making trillions of $s doing nothing except gambling & pushing paper survive ? It should be company A produces something that either company B or consumers need / want, sells what it has produced / made . Trading / gambling or guessing on how well company A or B will do financially is non productive and adds costs to the end product .

Originally posted by pillock
The problem with the world economy is very simple . The share / futures market is to blame, how can an economy survive when people who produce nothing whilst making trillions of $s doing nothing except gambling & pushing paper survive ? It should be company A produces something that either company B or consumers need / want, sells what it has produced / made . Trading / gambling or guessing on how well company A or B will do financially is non productive and adds costs to the end product .

You are closer to the truth and to a solution than many others may realize. Only the truth, acknowledging it and correcting it will we ALL mankind be free.

There is $70 trillion in G10 debt that is the collateral for $700 trillion + in derivatives, equating to 1200% of Global GDP. How did it happen?

Thanks to bankers,rich elites and speculators in the casino stock markets, the value of our world's wealth $70 trillion had been INFLATED to $700 trillion in total liabilities.

How then can the world pay off those inflated figures when our financial world collapses, or WORSE if it does't collapses - the world's humans then made to work theirs and their future generation's butt off to pay those indolent lazy bast*rds whom had screwed up the capitalist system?

Money is only a piece of paper. It is the trust and confidence in that paper, that it is backed by REAL GOODS, that gives it a value. Right now, with that reality of INFLATED values, there is NO REASON to honor those inflated values anymore, simply because those inflated figures ARE NOT backed by real goods, but in reality, backed by the forced and enforced sweat, toil and blood of man turned into slaves for generations by the bas*ards.

The only way now is to PRINT MORE MONEY, DEVALUE THE AMERICAN DOLLAR to its true value - based upon goods and resources, not on man created inflated figures. Fortunately the american dollar is the reserve currency of the world, and much of our world nations use it, trust and base their own currencies on the dollar value. It is the only solution left, provided the American People have the will.

For sure, the real rulers behind the scenes - international elites, will NEVER allow it and will do everything they can to undermine such actions, even if it means killing off 70% of our fellow humans, for they will weep if even even a dollar is lost from their incomprehensible hoardings of staggering wealth. 30% of slave humankind left would give them a comfortable life, as our planet's resources had not ended.

China, Japan and the BRICS nations already knew the truth of the inflated values and real world liabilities. They know what will have to come, if no war happens - devalution. They worry about the devaluation of their own currencies should the american dollar is allowed to reflect real value.

BRICS have as much to blame for the inflated values, for they too manipulated their currencies, gambled on stock exchanges, equally have barbarians at the helm of bank boards. By decoupling from the american dollar, they hoped to get away with their gambled wealth, maintained their currencies and the value of their goods and resources at current inflated prices .

Foolish move by them actually. Who are the true consumers, tech innovators of the world? It is the western world. Dictorship ruled BRIC nations do not have the necessary institutions for true civilisation freedom and growth.

Majority of their people have yet to catch up with the west, and unlikely to do so, even with imported foriegn talents, for in corrupted tyrannies, tall poppies are often cut down or culled. BRICS will only doom themselves if they do not solve this problem TOGETHER as one human race. No one will be left to buy their goods and all will starve. Civilisation ends...



=============================

It's actually more complex, but for simplier comprehension so that more may understand about devaluing the dollar:-

Let's take an example that America's total wealth is $7 trillion. In year 2011 it has circulated $7 trillion american dollars into the world, and other nation's currencies pegged their dollars worth to US dollar.

Now, if in June 2012, USA decides to print ADDITIONAL $14 trillion to add into world circulation. It would devalue the 2011 dollar down to current value of only 33 cts.

That choc bar you bought at 2011 cost $1. Today in June 2012 it will cost $3.30cts.
But in terms of debts, that $10 Trillion dollar debt signed in 2011 will become only $3.3 Trillion!
And one can live without that choc bar,which producers will have to reduce prices realistically,lesser profiteering if they want their products sold and not rot.

And in exchange rates - US$1 is worth 80cts Euros in May.
With new June 2012 devalution value, US1 will still be 80cts Euros, as Euros is pegged at US dollar, if all things being equal,
BUT that 80cts Euros has lost 67% in current paper value than its paper value in May.
If its debts are in US dollar signed before June 2012, it will pay only 33% from its national wealth OF RESOURCES/GOODS instead.

Similarly,if EU is not pegged to the dollar, but accounted by its own resources and goods, then it must PRINT MORE euros to devalue/ recalibrate back to TRUE EU dollar worth, and not INFLATED worth, or all states whom had loaned in EU dollars will starve to death by generations paying those inflated worth.

All Biz comes with risk, more so those whom had sought to tweak the system for selfish personal gains, which most of world players including leaders are guilty of. They will have to pay the price, and not innocent others.

reply to post by SeekerofTruth101

never a truer word has been spoken
A+ my friend
A dollar or pound note was actually redeemable for that amount of gold or silver at a bank.
There is no way any bank could honer that now

Make no mistake, all, I WANT this to happen.....
for them all to crash and burn, for all of their "assets" to be liquidated and turned over to the people...for them all to be exiled to an island with only their birthday suits and each other....preferably one infested with poison ivy, pit vipers, and poison frogs....earthquakes and volcanoes...

all of you are on the same page as I am -- I think we need smaller communities, self-sustaining...the barter system, for exchange of in-kind goods and services....and all are looked after and valued and brought up to be contributors...not leeches. The more I learn about the history of our current "trade scheme" globally...and how it evolved out of hunter-gatherer groups' alliances with one another -- the more I see how corrupted it has become.

I am currently reading :NONZERO The Logic of Human Destiny By Robert Wright (author of The Evolution of God, which I recently was pimping on the Religious forums...also suitable for studies in Human Nature and Psychology.) Fascinating stuff.....
all quite on target for what's happening to us TODAY.

Ugghh..here's to a brighter future...the calm after the perfect storm! Bring it on!!

reply to post by wildtimes


wildtimes: all of you are on the same page as I am -- I think we need smaller communities, self-sustaining...the barter system, for exchange of in-kind goods and services....and all are looked after and valued and brought up to be contributors...not leeches. The more I learn about the history of our current "trade scheme" globally...and how it evolved out of hunter-gatherer groups' alliances with one another -- the more I see how corrupted it has become.


Couldn't have said it better!

"Keep it Local

We already know that supporting the local economy is better. Small, local business are nearly three times as profitable as global corporations. Each dollar spent locally is four times as beneficial than a dollar spent in a global owned business. Why would we not support our local economies? (“The New Economy” Yes! Magazine, Summer 2009)"

steadystaterevolution.org...

Originally posted by zarp3333
reply to post by satron

 

Don't buy it! That's just whats happening to them. They've finally reached the limits of what the peasants can afford to pay in usury. It's game over for the elites.

Don't panic. We shall prevail and there is an incredibly glorious outcome just around the corner.

Don't live in fear. It's about time those greedy people learned there are limits to any parasitic feeding from the host. They've past that point and don't know who to blame. Soon they will be at each others throats trying to screw each other.

Live in love and forgiveness. No matter what you hear, and soon you will start hearing things intended to make you very mad, WE MUST FORGIVE lest they use our anger against us as they have done for centuries.

I agree with you not to listen and feed into the hate, but I do think another financial crash is coming and I think it will make 2008 look like a minor blip. The elites are Telling us it is coming, it's whether you want to hear their words or not. I also think so many people are too busy to listen or are overwhelmed with continual negative news that again they will all be caught by surprise, and that won't be pretty.