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17 Quotes About The Coming Global Finacial Collapse!

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posted on Nov, 22 2011 @ 10:50 AM
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#1 Credit Suisse's Fixed Income Research unit: "We seem to have entered the last days of the euro as we currently know it. That doesn’t make a break-up very likely, but it does mean some extraordinary things will almost certainly need to happen – probably by mid-January – to prevent the progressive closure of all the euro zone sovereign bond markets, potentially accompanied by escalating runs on even the strongest banks."

#2 Willem Buiter, chief economist at Citigroup: "Time is running out fast. I think we have maybe a few months -- it could be weeks, it could be days -- before there is a material risk of a fundamentally unnecessary default by a country like Spain or Italy which would be a financial catastrophe dragging the European banking system and North America with it."

#3 Jim Reid of Deutsche Bank: "If you don't think Merkel's tone will change then our investment advice is to dig a hole in the ground and hide."

#4 David Rosenberg, a senior economist at Gluskin Sheff in Toronto: "Lenders are finding it difficult to finance their day-to-day operations with short-term funding. This is a lot like 2008 but with more twists."

#5 Christian Stracke, the head of credit research for Pimco: "This is just a repeat of what we saw in 2008, when everyone wanted to see toxic assets off the banks’ balance sheets"

#6 Paul Krugman of the New York Times: "At this point I’d guess soaring rates on Italian debt leading to a gigantic bank run, both because of solvency fears about Italian banks given a default and because of fear that Italy will end up leaving the euro. This then leads to emergency bank closing, and once that happens, a decision to drop the euro and install the new lira. Next stop, France."

#7 Paul Hickey of Bespoke Investment Group: "More and more, we are hearing anecdotal comments from individual and professionals that this is the most difficult environment they have ever experienced as the market is like a fish flopping around after being taken out of the water."

#8 Bob Janjuah of Nomura International: "Germany appears to be adamant that full political and fiscal integration over the next decade (nothing substantive will happen over the short term, in my view) is the only option, and ECB monetisation is no longer possible. I really think it is that clear and simple. And if I am wrong, and the ECB does a U-turn and agrees to unlimited monetisation, I will simply wait for the inevitable knee-jerk rally to fade before reloading my short risk positions. Even if Germany and the ECB somehow agree to unlimited monetisation I believe it will do nothing to fix the insolvency and lack of growth in the eurozone. It will just result in a major destruction of the ECB‟s balance sheet which will force an ECB recap. At that point, I think Germany and its northern partners would walk away. Markets always want short, sharp, simple solutions."

#9 Dan Akerson, CEO of General Motors: "The ’08 recession, which was a credit bubble that manifested itself through primarily the real estate market, that was a serious stress....This is much more serious."

#10 Francesco Garzarelli of Goldman Sachs: "Pressures on Euro area sovereign bond markets have progressively intensified and spread like a wildfire."

#11 Jim Rogers: "In 2002 it was bad, in 2008 it was worse and 2012 or 2013 is going to be worse still – be careful"

#12 Dr. Pippa Malmgren, the President and founder of Principalis Asset Management who once worked in the White House as an adviser to President Bush: "Obviously, though, if Italy leaves the Euro and reverts to Lira then the markets will immediately and forcefully attack Spain, Portugal and even whatever is left of the already savaged Greeks. These countries will not be able to compete against a devalued Greece or Italy when it come to tourism or even infrastructure. But, the principal target will be France. The three largest French banks have roughly 450 billion Euros of exposure to Italian debt. So, further sovereign defaults are certainly inevitable, but that is true under any scenario. Growth and austerity will not do the trick, as ZeroHedge rightly points out. Ultimately, I will not be at all surprised to see Europe’s banking system shut for days while the losses and payments issues are worked out. People forget that the term “bank holiday” was invented in the 1930’s when the banks were shut for exactly the same reason."

#13 Daniel Clifton, a policy strategist with Strategas Research Partners on the potential for more downgrades of U.S. debt: "We would expect further downgrades, a first downgrade from Moody’s and Fitch and possibly a second downgrade from S&P."

#14 Warren Buffett on the problems in the eurozone: "The system as presently designed has revealed a major flaw. And that flaw won’t be corrected just by words. Europe will either have to come closer together or there will have to be some other rearrangement because this system is not working"

#15 David Kostin, equity strategist for Goldman Sachs: "The wide range of possible outcomes on both the super committee process and the unstable political economy in Europe drives our view that investors should assume the worst while hoping for the best."

#16 Mark Mobius, the head of the emerging markets desk at Templeton Asset Management: "There is definitely going to be another financial crisis around the corner"

#17 Gerald Celente, founder of The Trends Research Institute: "The whole system is going down. Pull your money out your Fidelity account, your Scwhab accout, and your ETFs."

Are you starting to get the picture?

When so many top financial professionals are freaking out like this, perhaps the rest of us should start paying attention.

theeconomiccollapseblog.com...

If this Doesn’t scare you then I don’t know what will. I wrote a OP about the Sheeple waking up yesterday www.abovetopsecret.com... and im please to see these quote put together the next day. This is scary stuff even for those preparing like myself. This stuff is not like the Y2K, or ELEIN stuff. This is hard facts and numbers that equate to Unsustainable math.

We are at a braking point and it can happen any day now. It’s just a matter of time. All these people are saying the system is broken. All these people are saying time is running out. What will it take for those on ATS that dont belive we are in trouble to start believing ?

edit on 22-11-2011 by camaro68ss because: (no reason given)



posted on Nov, 22 2011 @ 10:55 AM
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reply to post by camaro68ss
 


Yep...it's on.

The sooner the better imo.

Then we can build a better system, this one fitted the 18th century, it has no place here.

Cosmic..



posted on Nov, 22 2011 @ 10:58 AM
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Originally posted by Cosmic4life
reply to post by camaro68ss
 


Yep...it's on.

The sooner the better imo.

Then we can build a better system, this one fitted the 18th century, it has no place here.

Cosmic..


Im with you. after the dust settles, im ready for a the simple life of growing and harvesting your own goods.



posted on Nov, 22 2011 @ 11:26 AM
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Anytime now, on the news they are reporting about Thomas Cook going under


Thomas Cook down 75% to 10.20p


Shares in Thomas Cook have closed down 75% after it announced it was in talks with banks about increasing the amount of money it can borrow. The travel firm said it had seen a "deterioration of trading", due to political unrest in Egypt and Tunisia and floods in Thailand. It also said it would delay releasing its full year results until it had concluded the discussions.


This will effect other travel agents, with Greece and Egypt, popular tourist destinations, in unrest. And as we see all over the world, unrest and instability is ripe. In Europe, it has yet to go into full swing, but it is only a matter of time before Italy goes under, and with that Spain and Portugal, other big tourist destination.

Mix that with the people who have very little money to treat themselves to a holiday, the obvious outcome is a major hit on the tourism industry, which in turn will hit the travel (airline) companies, and so on.

Im not the one for predictions, but I reckon that all will be well in 2011, because of the optimism of business's around Christmas time, but when the beginning of 2012 kicks in, and they realise they did not make as much money as they predicted (which they call a "loss", even though they didn't "loose" anything, just didn't make as much as they hoped) money will be coming out left right and centre of the market, and then the news will really hit home.



posted on Nov, 22 2011 @ 01:02 PM
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The flip side is this can be made to last a long, long time. If money can be made off of it even longer. Check out this video. This guy Mike Ruppert makes a compelling story...yeah I know we have heard it before but check it out. then look at the date. U.S. has only weeks

this issue could go on a lot longer so dont stop paying taxes or hold your breath yet..

Think about the USSR economic crash....do you think those people stopped paying taxes or that anything really changed. What happened in that era to control the populis ??? Russian Mafia was aloud to take the place of government control to govern the populis...how ever would that work here in the USA? I dont have all the answers just a mutual thought of where there's a will there's a way...TPTB have a big will!!!

Its big talk to say "the sooner the better",,, well maybe so!! and MAYBE NO!!! I have 3 dice...who among us really wants to throw them?
edit on 11/10/2011 by rebellender because: (no reason given)



posted on Nov, 22 2011 @ 01:18 PM
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reply to post by rebellender
 


Better to lose a toe than wait and lose a limb.

It's inevitable, things cannot be sustained.

It has to be done now, delaying is only making the repair list longer.

Cosmic..



posted on Nov, 22 2011 @ 01:48 PM
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Originally posted by Cosmic4life
reply to post by rebellender
 


Better to lose a toe than wait and lose a limb.

It's inevitable, things cannot be sustained.

It has to be done now, delaying is only making the repair list longer.

Cosmic..
THIS IS NOT A HECKLE what is your plan?



posted on Nov, 22 2011 @ 02:23 PM
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That's a nice collage of thoughts.

These days, investing is like sitting in a cell and awaiting execution - only without the pizza. A lot has changed in the last five years. Although the speed of decline has been exponential since October of last year. There's no denying that.

I also think it is interesting that the decline really started taking off around October 26th of last year when foreign brokers were dumping US paper trades in bullion. Foreign brokers were actually denying US citizens from trading bullion in any other currency other than the Dollar.

You can thank the CFTC for passing the new regulations that month. Looking back, this was an obvious attack against serf investors. That's when the portfolios started to wobble. This aced any fundamental news for recovery and relegated positions to technical analysis reports only. Since then it's been 'Viva Las Vegas'.


edit on 22-11-2011 by CodeRed3D because: (no reason given)



posted on Nov, 22 2011 @ 07:21 PM
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reply to post by camaro68ss
 


EXCELLENT compilation. Thank you.

S&F&
and bump.



posted on Nov, 22 2011 @ 07:29 PM
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One of my favorites:


"Hugh Hendry is a Scottish fund manager at Eclectica Asset Management. Hendry responded to a question from host Jeremy Paxman about the current European economic situation and the possibility of a Greek sovereign debt default with the comment, "I would recommend you panic".


good post camaro68ss


brill
edit on 22-11-2011 by brill because: (no reason given)



posted on Nov, 22 2011 @ 07:33 PM
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reply to post by CodeRed3D
 


The ironic thing about that last statement, was Viva Los Vagus. Viva (long live) Los Vagus which relies on turists, has huge energy demands, needs heaps of water just so it doesn't turn into desert. If the system crashes it could turn into Lost Vagus, now that would be funny. Sin City turned into desert, because of peoples greed, now the symbolic nature of that happening would be huge.

edit on 22-11-2011 by wondera because: spelling and other stuff, yes there is still more



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