It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Economist Caution: Prepare For 'Massive Wealth Destruction'

page: 1
17
<<   2 >>

log in

join
share:

posted on Aug, 23 2013 @ 04:20 AM
link   
Possible related event...

Nasdaq halts all trading
www.abovetopsecret.com...
by WeBrooklyn
started on 8/22/2013 @ 02:34 PM

MONEYNEWS


Take immediate steps to protect your wealth . . . NOW!

That’s exactly what many well-respected economists, billionaires, and noted authors are telling you to do — experts such as Marc Faber, Peter Schiff, Donald Trump, and Robert Wiedemer. According to them, we are on the verge of another recession, and this one will be far worse than what we experienced during the last financial crisis.


With the unemployment in the US jumping up a full percent last month and Federal Reserve Chairman Ben Bernanke continuing QE it is just about guaranteed the markets will go into a correction. Last Friday George Soros placed a $1.25 billion bet against the markets which is a flag to setup and take notice. He has an outstanding track record in predicting the markets.


Marc Faber, the noted Swiss economist and investor, when he was asked what sort of odds he put on a global recession happening, the economist famous for his ominous predictions quickly answered . . . “100 percent.” Marc Faber, the noted Swiss economist and investor, when he was asked what sort of odds he put on a global recession happening, the economist famous for his ominous predictions quickly answered . . . “100 percent.”


The general consensuses of both Peter Schiff, the CEO of Euro Pacific Capital and Donald Trump seem to mirror that of Marc Faber...

Schiff remarks that the stock market collapse we experienced in 2008 “wasn't the real crash. The real crash is coming.”... Trump doesn't hesitate to point out America’s unhealthy dependence on China. “When you're not rich, you have to go out and borrow money. We're borrowing from the Chinese and others.”


Even though the US is borrowing from the Chinese, China is in worse shape that the US was prior to housing bubble burst in 2008. It was reported earlier this month that 60% of the domestic container lines in China are now bankrupt. COSCO the largest state funded cargo line has lost a staggering $739 million and is forced to liquidate much of it's current assets in order to stay afloat.

Considering that China continues to build housing and has now started to build the Macao/Hong Kong over water bridge while cutting exports of cement, they are seriously cooking the books to increase domestic GDP. The further downside is the property is going unsold. Currently Chinese banks are raising interest rates in an attempt to cut back on both real estate speculation and cheap ship building. Inflation has already started to raise its ugly head.

Should the markets go south as predicted, it will literally pull the rug out from under the Chinese collapsing their housing bubble and with the downturn in exports they are headed for a major recession. This will not bode well for the US or the dollar as a major lender will not have the ability to lend to the US and there are none that can take up the slack. This type of situation could be enough to force the US into default. The US would then look like Spain or Greece.

The full article can be found here, Link.

Tried to search the title but the ATS search function is not working, I keep getting the error message that it is not available. So if already posted, sorry, at least I tried to search the title.


edit on 8/23/2013 by pstrron because: Forgot to cap a letter

edit on 8/23/2013 by pstrron because: (no reason given)



posted on Aug, 23 2013 @ 04:44 AM
link   
Now how do you prepare for 'massive wealth destruction'?
spend spend and spend , on items that will be worth something after the love is gone

Baked beans and radiated cans of toona fish .



posted on Aug, 23 2013 @ 04:56 AM
link   
reply to post by 12voltz
 


The actual preparation would be to move your market assets in hard assets that have inherent returnable value. Gold and silver are fine but soon or later they will also go through a correction causing a loss of wealth. Donald Trump invests in rental real estate and people will always need housing. While others have moved into what is known as blue gold (water) which is also always needed.

This is a guaranteed return on their investments over the long haul and protection for their current assets. As for the little guy, it's another fish fry.



posted on Aug, 23 2013 @ 05:31 AM
link   
reply to post by pstrron
 


water( Blue gold) have they no shame ,next thing they will try to sell fresh air (clear gold)
I must point out at this stage that i am not an expert by any means in the financial sector and usually operate by trading goods and services and would never pay gold for blue gold ,even if they placed a giant dome over my h2o collection system (gutters). water grows on trees here but dont tell anyone.



posted on Aug, 23 2013 @ 05:59 AM
link   
reply to post by pstrron
 


Too coincident when President Obama just had a meeting with bank/financial heads recently.

Hard assets are the real money. Need to diversify our portfolio. THE 5 GOLDS:-
■ Yellow gold = Physical gold
■ Poor man's gold = Physical silver
■ Black gold = Brent / WTI oil
■ Blue gold = Fresh water supply (earth has 2.5% only)
■ Green gold = Agriculture (includes wheat, dates, rice, barley and natural organic salt)



posted on Aug, 23 2013 @ 06:14 AM
link   
reply to post by 12voltz
 


Last year George Soros put a rather hefty amount into water rights. While earlier this year Nestle's CEO wants to claim the global water supply as belonging to corporations and governments. They have already placed a tax on the rain water that falls on a persons property claiming the rain water belongs to the government.

As for 'clear gold' I'm sure you have heard of carbon credits...well there you go, they are already taxing the air.



posted on Aug, 23 2013 @ 06:29 AM
link   
reply to post by wisdomnotemotion
 





Hard assets are the real money. Need to diversify our portfolio. THE 5 GOLDS:-
■ Yellow gold = Physical gold
■ Poor man's gold = Physical silver
■ Black gold = Brent / WTI oil
■ Blue gold = Fresh water supply (earth has 2.5% only)
■ Green gold = Agriculture (includes wheat, dates, rice, barley and natural organic salt)


The billionaires have been steadily moving out of gold, silver and oil and investing in the Blue and Green gold. The sad part is that most of the small fry do not have the portfolios to follow suit. If you remember a couple of years back Soros already stated that they were going to find out who's swimming naked. I suspect that anyone out there wearing a speedo won't even have that left once everything settles.



posted on Aug, 23 2013 @ 06:47 AM
link   
reply to post by pstrron
 


I can't take this seriously, if and when the real collapse comes it will be of such a magnitude that laws will first shake and crumble in unison. We already had a taste in Cyprus.

Now the best place to put money in a lawful society that anchored in Roman law (law of property especially land) is in land itself but even so you can be taxed out of your property (even if land will be the last thing they will go after since every human has to be physically in some place and depends of land for its survivability). Over the ages land has been the best refuge but one needs to understand that land can't be horded as societies will attack anyone holding large quantities of it (especially if its unused).

In an "unlawful" society the best asset is something you can carry and protect from everyone else, starting by yourself, guaranteeing that you do have intrinsic and unmovable value will be half the battle, all other assets will be confiscated, especially if the meltdown is globalized and you are prevented to move it from legal space to legal space.



posted on Aug, 23 2013 @ 06:58 AM
link   
reply to post by pstrron
 

Well , I wouldn't worry about it.
I would be more concerned with cybersecurity,
patent,and Copyrright infringenrt

The minute they fire first firecracker, it is Bingo



posted on Aug, 23 2013 @ 07:18 AM
link   
reply to post by Wildmanimal
 


Personally I am not worried about it as I do not live in the US or Europe and our assets have been with the family for a very long time. With a collapse there is always an opportunity to secure further assets. As I have told colleagues, I fully intend to take advantage of the situation. Since I am 100% debt free and hold all assets clear, it will have little to no effect on me. For those that are not in that position, it's liable to get rough.

Everyone knows that the house of cards is coming down, it's just a matter of when. There will always be those that will play the game all the way to the bitter end in hopes that they will somehow escape. Those that know that it is coming have already set their positions. Those that haven't will suffer major loss.
edit on 8/23/2013 by pstrron because: (no reason given)



posted on Aug, 23 2013 @ 07:28 AM
link   
reply to post by pstrron
 


Well it's about time. Let's get this into high gear. I'm tired of waiting around listening to people yell doom and gloom while knowing that this will happen eventually. Let's just have it hit us so we can get it over with and the economy can have a REAL correction instead of the fake one that we got post 2008.



posted on Aug, 23 2013 @ 07:37 AM
link   
reply to post by Krazysh0t
 


Agreed, get done and over with as we are going to have to go through it anyway. Today is as good a day as any. The longer they keep kicking the can down the road the more painful it will be.



posted on Aug, 23 2013 @ 07:49 AM
link   
reply to post by pstrron
 


Exactly. I already realize this will be a very painful transition for humanity but it is one that must be done. Unfortunately the politicians look at this as a giant game of hot potato and they don't want to be the one left holding it when shtf. Of course it makes sense. They are probably going to be the first people lynched when it does hit the fan.
edit on 23-8-2013 by Krazysh0t because: (no reason given)



posted on Aug, 23 2013 @ 08:01 AM
link   
reply to post by Krazysh0t
 


I suspect that they will use a false flag event ala 9/11 to crash the markets. That way they can blame someone other than the real culprits and the public will eat it up as usual. Considering that the FBI is already warning about another 9/11 event hinting at planes or nuclear terrorist attack on the US.



posted on Aug, 23 2013 @ 08:06 AM
link   
reply to post by pstrron
 


News like this does not really pose any problems for myself or my family.
We are poor and have always been poor.
We only learned about the crash of 1929 from reading a old news paper in the 1940's.
We were so poor, if it had not been for the scraps from the people down the road, who were on welfare, we would have starved to death.



posted on Aug, 23 2013 @ 08:24 AM
link   
reply to post by teamcommander
 


We are not rich by any stretch of the imagination, we live in a small village in Abra and pay cash for everything. We do have a farm outside the village plus livestock so no worries regarding food or housing. There is plenty of clean water and fresh air and the food supply is all organic.

edit on 8/23/2013 by pstrron because: spelling



posted on Aug, 23 2013 @ 08:45 AM
link   
reply to post by pstrron
 


Well if that is the case, they may want to act swiftly because it looks like they won't have the time to carry out their plans. To be honest the economy could crash any day. You could wake up one morning and there could be world wide chaos. Just wait until Oct 1st when a good bulk of Obamacare goes into effect. My dad is an insurance salesman for Aflac and I just had a conversation with him about it this morning. The vast majority of America is unprepared for what is about to hit them on October 1st. (For one that 50 full time employee thing is complete nonsense, you can have less than 50 employees and still get hit with the penalty. You just have to have enough part-time workers that add up to 50 full-time employees and many people don't realize that) The truly baffling thing about this law is that the government expects to get much of its funding for it from the penalties and fees that they will impose on all of us because we can't afford it.

I'm not saying that October 1st is going to be the end, but unless Obamacare gets pushed back further it's going to start getting hairy from then on.



posted on Aug, 23 2013 @ 09:38 AM
link   
reply to post by Krazysh0t
 


Sounds like a royal nightmare! I can see where this could trigger the markets on or shortly afterwards. Now if you throw an event into the mix that would cause pandemonium and chaos clean across the board, the rats could scurry away while taking the cash with them and everyone else is wondering what happened.
edit on 8/23/2013 by pstrron because: (no reason given)



posted on Aug, 23 2013 @ 12:38 PM
link   
This is absolutely a possibility, especially since it has happened before. There was a deep depression from 1920-1921. The feds created an artificial boom period by doing exactly what the imbeciles in DC have done since 2008... print, print, print more toilet paper with president's photos on them (and remember, back then the dollar was pegged to gold... imagine the ramifications now that the dollar is pegged to fairy turds and leprechaun hairs.) When that gravy train eventuaklly came to an end and the government was forced to allow the monetary supply to contract, the Great Depression hit with the force of a thousand suns.

Eventually, today in 2013, the Federal Reserve will be forced to either stop printing and increase rates, or else render the US with Zimbabwe-esque money values. When those presses stop and those rates raise, America is hosed.



posted on Aug, 23 2013 @ 07:05 PM
link   
reply to post by burdman30ott6
 





Eventually, today in 2013, the Federal Reserve will be forced to either stop printing and increase rates, or else render the US with Zimbabwe-esque money values. When those presses stop and those rates raise, America is hosed.


Ben Bernanke has already mentioned that they were looking at slowing QE and raising rates in the first quarter of 2014. They have actually painted themselves into a corner to such an extent that no matter which way they turn the US is financially sunk. Either keep printing and watch the dollar implode of stop and raise rates and watch inflation head for the moon. The quarterback is toast no matter which way he turns.



new topics

top topics



 
17
<<   2 >>

log in

join