September Will Bring the Sound of Banks Crashing. After That, the Crackle of Gunfire.

This is from the blog of Author James Howard Kunstler. The commentary is a dramatic account of bank failures and market crashes this fall. It's also great doom porn with a short time frame prediction so I thought ATS might enjoy the read.

The roar you hear in the distance this September will be the sound of banks crashing, followed by the silence of business-as-usual grinding to a halt. After that, the crackle of gunfire.

Historians will remark that it was a beautiful August with bright days and cool nights for sleeping, and the Hamptons were ablaze with self-satisfied egos, and that nobody was paying attention to all the mischief that was set in motion the previous spring, not to mention the many seasons of bad behavior that preceded it. And when they returned from vacation, lo, the world was in crisis. What a surprise.

Anyway you look at it, there is no escape from the looming crisis of confidence. The “primary dealer” banks and commodity exchanges behind the spring gold smash are out of tricks and out of gold to play tricks with. Meanwhile, over in the land of paper wealth, the interest rate on the 10-year US Treasury bond clicks up a basis-point here, a basis-point there, like a remorselessly rising sea level...

Some may claim that Kunstler's prediction, with no figures or charts presented, is just doom and gloom fantasy, just something entertaining to read. Others may claim that Kunstler's prediction of a market crash is a mathematical certainty.

Perhaps both are correct. Enjoy.
(Full Article) *Fixed link- Thanks dustytoad
Full Article

reply to post by METACOMET


Linky Link doesn't like being called same name and address sometimes..

Reading it now.

OH the name of the url is against the T and C here so it's not linkable. I see now. Puts an * where a four letter word goes.

Originally posted by Dustytoad
OH the name of the url is against the T and C here so it's not linkable. I see now. Puts an * where a four letter word goes.

Ah, I realize that now. To read the article, go here:

www.zerohedge.com...

In all honestly how long can people continue to support a system that allows banks to reap the blood sweat and tears of the common man?

Just look at Detroit, they are talking about a "bail in" Cutting the pensions there in order to bail out the banks... Because the banks are "too important to face the loss"

Average Joe who worked as a public servant all his life, HIM hes not important so screw him, he can work until he dies he does not need a pension...


Seriously think about the above, How would you re-act to something like that? If it happens in detroit it could be the first in a line of "austerity measures" in other failing municipalities.

I don't know about September, But I will be watching Detroit closely, I feel its an integral part of how the coming collapse will play out.

I will take devil's advocate.

The very "weakness" that everyone says will facilitate a collapse, the imaginary aspect of the economy, is actually the strength of the system that will probably save it from collapse.

It's all about "belief".
If people believe money is worth something, than it is.

Look around you...who believes money isn't worth anything?
There is no way to undo that.

I am afraid the only way the "system could crash" in this paradigm is if the owners/controllers decide a crash is in their interests, and then create one artificially.

Originally posted by benrl
In all honestly how long can people continue to support a system that allows banks to reap the blood sweat and tears of the common man?

It was Frederick Douglass who said:

The limitation of tyrants is the endurance of those they oppose.

That's how long.

reply to post by METACOMET


I would be interested in hearing some opinions on gold and silver here. Continue to buy gold if you have limited money or will it go any lower? Obviously spring was great for silverbpurchase. I figured someone was behind the price crash. Will we see it go back up?

Originally posted by muzzleflash
I will take devil's advocate.

The very "weakness" that everyone says will facilitate a collapse, the imaginary aspect of the economy, is actually the strength of the system that will probably save it from collapse.

It's all about "belief".
If people believe money is worth something, than it is.

Look around you...who believes money isn't worth anything?
There is no way to undo that.

I am afraid the only way the "system could crash" in this paradigm is if the owners/controllers decide a crash is in their interests, and then create one artificially.

We'll have to disagree on that. benrl is correct about Detroit, all the other big cities are watching closely to see if the can get away with shafting pensioners. Detroit's bankruptcy will set the precedent for other cities, Chicago is already slobbering over this along with many others.

Owners/controllers will lose control when enough people are shafted out of everything they've worked their entire lives towards.

Originally posted by GogoVicMorrow
reply to post by METACOMET

 

I would be interested in hearing some opinions on gold and silver here. Continue to buy gold if you have limited money or will it go any lower? Obviously spring was great for silverbpurchase. I figured someone was behind the price crash. Will we see it go back up?

I buy things I can use, hard goods.

Gold and silver in my safe are pretty useless to most people, if you have the funds, buy silver (lower cost, easier to obtain)

and the rest staple goods, dried grains etc.

Invest in yourself, take a mechanics course, survival, first aid, etc, things you can use.

Worst case you end up knowing more, best case it saves your life.

One question that's been bugging me lately. The US government is saying that their in a recovery as we can hear all over the MSM and from the political meatslabs. Yet there are cities/towns in the US that are going bankrupt??? I may have just had a stroke or I might be alittle slow on the uptake but this doesn't sound like a recovery more like the beginnings/early stages of a major collapse. Can someone please explain this to me???

reply to post by benrl


What they'll do before a big crash is move toxic assets into banks "to big to fail" and then get bailed out. They never have to take responsibility for the bad decisions. It's a shell game to these people.

If you start to see a lot of companies assigning assets to other larger institutions -- then it's time to get worried. It happened right before the '08 crash, and because they got away with it -- they'll do it again.

Kunstler's been predicting this foe 20 years, wake me up when he's finally right.

I've been hearing for the last 5 years that the end is coming in September, and every year this parasitic system continues on while the populace bleeds.

But, allow me to break out some lotion...anytime I see some DOOM PORN....I must FAP

Originally posted by RedShirt73
One question that's been bugging me lately. The US government is saying that their in a recovery as we can hear all over the MSM and from the political meatslabs. Yet there are cities/towns in the US that are going bankrupt??? I may have just had a stroke or I might be alittle slow on the uptake but this doesn't sound like a recovery more like the beginnings/early stages of a major collapse. Can someone please explain this to me???

edit on 7-8-2013 by RedShirt73 because: (no reason given)

Because like a poster above said the economy can be propped up simply by consumer confidence (its actually a major sign somethings up that they are pushing the recovery line so hard)

They can prop it up a bit longer with happy thoughts, because really all the economy is is an imaginary thing that says these pieces of paper they give us is worth something.

The problem is that the gutting of the manufacturing base in the 90s has weakened the US ability to recover, Detroit being a MAJOR example of this.

What people aren't seeing is that Detroit is a micro of a macro situation.

Detroit is America 10-20 years down the line, Detroit saw a mass influx of jobs during WW2, Unions and Government tampering led to the current state it is in.

Detroit was THE manufacturing city in the US, what you see there is what happens when a manufacturing base collapse. Detroit being a city could not absorb the damage and fell into decay over time, cutting public services, safety etc.

What you see in Detroit is what the end game of policies the us has been following for some time, it just happened there much sooner than the rest of the country.

HOW and IF detroit recovers should be near and dear to every single American.

Originally posted by SirMike
Kunstler's been predicting this foe 20 years, wake me up when he's finally right.

People have been predicting it for a long time because the Policies that started this decline have been around for awhile.

You can't blame this on the current administration or the last one, or even the one before it, it is a cumulative problem of greed. Corporate lobbying that has made the world the way it is now, smart people have seen it coming for a long time.

They warned us, Ron Paul tried since the 80's to warn us about US economic policy, no one listened, the Boom and Bust that we see is due to manipulation based on policy.

I won't say the jig is up, but its definitely getting harder and harder for them to keep up the charade.

Originally posted by GogoVicMorrow
reply to post by METACOMET

 

I would be interested in hearing some opinions on gold and silver here. Continue to buy gold if you have limited money or will it go any lower? Obviously spring was great for silverbpurchase. I figured someone was behind the price crash. Will we see it go back up?

I think gold and silver is a great idea for someone with plenty of extra money to invest because someday, eventually, a currency will replace this one when it soon crashes. I think many of us see by now how it can do nothing else by exponentially climbing numbers no one even attempts to explain a way to pay off anymore.

Someone with limited money? Well...Look at the Great Depression. You can't eat or drink precious metals and stiff drinks over healthy dinners may come to mean more than anything in times sooner than we'd all like.

I don't have a way to test silver to see if it's silver. Same with gold for that matter. Do you?

A Storage Wars show had coins come out of one that were Silver Dollars. There was a slight difference sitting next to the real ones in appearance by some age coloring but they didn't mention that. They said magnet testing is the best way for that particular scam. ...Umm.. people have full presses for fakes like that?? I'm not trusting much in a SHTF situation. I say buy useful things before inflation makes them more expensive. Clothes and important stuff.

reply to post by muzzleflash

Muzzleflash,
When it takes a wheelbarrow full of dollar bills to buy some groceries, our belief systems will rapidly change.

reply to post by benrl


So basically what your saying is that the US, in 10 to 20 years, will be like mad max territory, lol.

Originally posted by conspiracytheoristIAM
reply to post by muzzleflash

 

Muzzleflash,
When it takes a wheelbarrow full of dollar bills to buy some groceries, our belief systems will rapidly change.

But how could that possibly happen?

Some of the more crazy among us will kill for 100$ right now. Maybe less.

A wheel barrel of money? You need to put that in a Brinks truck and get some security seriously.

Inflation cannot happen when people believe in scarcity like this.
The only way people can get a wheel barrel of $$$ is if they get a raise in pay...when will that happen?

Originally posted by SirMike
Kunstler's been predicting this foe 20 years, wake me up when he's finally right.

Agreed.
Kunstler has been making his living off "end of civilisation" scenarios for quite a long time now.

Thats not to say banks wont collapse. But if they do, it wont be foretold by Kunstler's great insight, because its the kind of thing he's been saying since forever, and will keep saying forever.

Here, for example is an old ATS thread from 2005 talking about how he predicts we'll all be dead now from "peak oil".

The best estimates of when this will actually happen have been somewhere between now and 2010.