The entire (financial/economic) system is built on trust that the system will work, and the banks are well aware of this and are exploiting it. The bankers can rig everything.
“The corruption is so extreme with metal manipulation, currency manipulation and banks that continue to be brought up on charges, and no one goes to jail…It’s unbelievable fraud to such an extreme it is frightening” says Gregory Mannarino during an interview with Greg Hunter. “This is why no bankers are brought up on charges. This is why no one gets handcuffed and no one gets arrested because it would shake the very foundation of the financial system. It is built simply on a trust mechanism.”
Mannarino goes on to say, Not only are things getting close, but we are here now.
This is it…The collapse is now…
The correction is going to be painful and deep
because Mannarino contends,
“What we have here is an environment involving the most gargantuan bubble that has ever been seen in the history of the world.”
What we know about bubbles is this, every single one without exception bursts.
They burst because they rise above a level that can be sustained by any means. That means despite whatever the central banks are going to try to do to keep this whole thing pushed up, it will be the free market that will dictate fair market value.
That is going to be that epic snap back where all assets across the board, debt, currency, metal and stocks, correct to fair market value. It is going to shake the core of the earth when that happens. It is going to be nothing but a wealth transfer. People who have exposure to this market on the long end, 401k’s and retirement funds, their wealth is going to be transferred from their pockets to another group of people.
Mannarino says, “We are at a tipping point. There is no doubt about it.”
The signs are all around us, if you will only read them. Time is running short. Time to get into tangibles. Stock the pantry. At best, get ready for a ‘reset’. At worst get ready for a collapse.
Is it about to happen? Many believe it is – this year. Based on your ‘gut’ and what you’ve been reading out there, do YOU suspect a major ‘incident’ during the remainder of this year?
I really hate to admit it but from a financial standpoint I’m rather ignorant. What do folks perceive as going to happen as far as debt obligation after the re-set, meltdown, collapse or whatever we finally decide to call it? Will the money I have in the bank go away and my debt stay the same? Through luck, a decent job and IRA contributions my wife and I have arrived at retirement with no mortgage and only a no interest car payment. We put everything on a credit card, live comfortably and pay off the card every month. Should I pay off the car now or continue to pay the loan off for a another couple of years? I do know that my dollar is worth less with each passing month due to inflation so since it is a no interest loan it seems sensible to let it go on as it is. I’m also looking at replacing my worn out F350 pickup. Should I pay cash and avoid the interest? I’m planning on ordering a 2016. If I order it next week and put 10 or 20 percent down what happens to my money if the economy tanks and… Read more »
@me,
First, please do not take any of this information as ‘financial advice’. Matters of personal choices and decisions regarding one’s finances are just that – personal choices.
That being said, I have been astounded as to how long ‘they’ have been able to keep this current and magnificently gargantuan bubble inflated. There have been a zillion predictions as to when reality will overcome it all, but it hasn’t happened yet. I can only offer my opinion that I do believe that something major is going to happen sooner rather than later, and I will not be surprised if ‘it’ happens this year. To what extent? It’s all speculation. This ranges all over the map depending on what you read. But there is quite a consensus that ‘something’ is going to give, and probably soon.
I cannot recommend what others should do. All I can do is offer up opinions regarding what seems to be coming (as in this article and many of my previous related articles). I simply hope to warn others so that they can begin to make their own decisions about how to handle what may or may not be in our immediate future.
Me, nobody knows how the future will play out. I can only tell you how I manage my life and value. I’m getting older but I lived like a Spartan most of my life and have enjoyed every minute of it. My vacations were filling my freezer with wild game, I never purchased new but purchased used vehicles and learned how to restore them with pennies to the many dollars compared to buying new. I payed only in cash and never on credit for my home and investment properties. I learned early in my life to rely on no one but my self for anything. Get out of the rat race of debt and find other means to accomplish your goals. I have diversified my money into Gold, cash, rental properties and other value creators. I never keep all of my eggs in one basket. Only you can decide where to put your money but always plan for different outcomes. It is not only in our successes that we learn but also from our failures.
Some hard facts to research or confirm, BRICS Nations and why they formed their allinance and how many countries have joined them, AIIB, what countries are members and which ones are not. What countries have acquired the largest amounts of precious metals since 2008? What effect WILL the Chinese Yuan have on the US dollar when the IMF accepts the Yuan as equal partner with the dollar as a reserve currency. Once you have researched all the above, the decisions will be easy to make on what you must do, however time is running out!!! Quck answer, bail out of your 401k monday because taking a hit of 35% of something is better than 35% of NOTHING, leave only enough money in the bank to cover bills, it would be better to have to put somme cash back in than to have it all disappear when this callapse happens, get non-perishable food, water and water filtration systems, first aid supplies, antibotics, then a good hand gun a good AR rifle and get training on their use. Get the MINDSET of being a survivor!!! I think that a collapse is so close that most should start conserving $$$ Now, because the… Read more »
From a recent article here…
…China and Russia have made alliance (the AIIB, an alternative clearing system to the West’s SWIFT, currency hubs all over the world, and other mutually beneficial agreements without ‘the West’). Russia just announced this week that China has amassed an incredible 30,000 tons of gold. And whatever the real amount, China is apparently going to announce it soon. Whether the number is 10,000, 30,000, or somewhere in between it is MORE than the U.S. “claims” to have. This will reverberate throughout the world…if it happens…and the financial system of the West will be ‘badly’ affected as a result. And that’s putting it quite mildly.
The U.S. claims to have the German gold, but it is going to take close to a decade to come up with it. So where is it? Just think about that trick with the 3 hats and trying to guess where the goodies are.
If the FED were ever audited along with the supposed gold in Fort Knox, the current system would probably collapse within milliseconds of the results.
Yes, Ken!
I’m afraid that this will happen very soon. I pray that while we are at our weakest moment that the vengiance of nations that see US as evil for killing the women and children with Drones, will not be in disguise as UN Peace Keepers. Since those in our Govt ordered these actions, then other nations think that our entire population is just as evil. I support our troops, however i think that illegal military orders have been given in the past and most likely be given in our future. Moments of decision making will happen very soon when our troops to choose which path to take. I pray that most will make the right decision and keep the oath!!
Another very important fact about the AIIB, Great Britian, Germany, France and Italy have also joined the AIIB as founding member status, much to the dismay of Obama and the Treasury Dept and IMF!!!
Once China announces that they’re holding more gold value than their debt, flight away from the US $$$$ will happen overnight!!!
When the collapse happens, Not just Chase Bank but any bank that has safety deposit boxes, i think will confiscate any precious metal and cash that they find in safety boxes!!
Stay Safe!!
As of March 2015, the US Treasury publicly claimed to have ownership of 8171 tons of fine gold.
David, I nearly spit out my coffee this morning while reading that one… 😉
curious, was the reported amt of gold on the US Treasury web site, who was in charge of auditing it? I hope not the same agents from the IRS that were overseeing tax exempt status reviews in 2012???
I won’t believe any amount of gold that is reported until absolute proof in provided!!!
Money has always been the source of power and power corrupts. Any person with any knowledge of history understands the evil in which the Federal reserve was created. Enemies of this Republic have been usurping the banking system from its inception. A blind man can see the propaganda and social changes in values, morality and control over families and individual financial freedoms. Just ask yourself how much freedom in an Americans life and savings have been lost in the last 100 years. It is all going to come crashing down as they keep trying to prop up the whole rotten financial Ponzi scheme and failing social experiment. History tells us that corruption always fails in the end.
BE READY!
On average we have some sort of economic upset every 7 years for the past 49 years. If Rabbi Jonathan Cahn is right we may be in for the worst collapse the world has ever seen.
The Mystery of the Shemitah
Sorry Ken. Off topic but maybe not. Thought you would want this info. Heading for vacation. We have passed hundreds of TN National Guard vehicles. I swear i saw one with CCCP on the side of it. These guys are in full gear. Body armor. Helmets with coms. They are gathering at a rest stop in Alabama. Found it interesting they are operating out of state. They also have dozens of fuel trucks. I have seen hundreds of convoys on our interstates over the years. Never saw fuel trucks and full battle gear. Hope nothing major goes down until I get home. Unfortunately, vacation was planned and paid way before Jade Helm announced. Thought we would be ok, then they moved it up to this month. Still hoping they spend a few weeks managing assets before SHTF… if it even does.
I believe it has already started, we just aren’t getting the worst of it, yet. It’s not just about money, but about the big picture. Sure, the market hasn’t collapsed yet, but our moral foundation of America has been destroyed. Politicians are acting more elite and secretive than ever. We’re picking a fight with Russia and China. Our media is purposefully spooling up the population to be racist, attempting to create divide. Inflation can be seen everywhere. A dozen eggs for $5? A can of beans for $1.50? Yes, those are the prices I’m seeing. We are living in a nation of “do what makes you feel good”. It is already here, the market just hasn’t collapsed yet, but it will. And, something big is coming down for July. Some really bad stuff is about to happen with the VA (and NO ONE is media is covering it), Pelosi just opposed Obama and rallied the Dems behind her, Jade Helm is about to kick off, etc… There is WAY too much tension in our country right now. People are looking for a reason to be angry, to lash out. The day of the collapse (which could be Monday, two weeks… Read more »
Quote, “There is WAY too much tension in our country right now”
I believe that you are quite correct. Things have been ‘building’ for years, and I can feel this pressure cooker building steam. (Whooops, I said one of the ‘NSA’ trigger words, should have spelled it ‘pre$$ure c00ker’) (Whooops again! I said ‘trigger’, another NSA bad word. I should have spelled it ‘tri&&er’)
All joking aside, I wonder how many of the rest of you are feeling more tension regarding all of the BS we’ve been spoon fed these last years and do you believe that many others are feeling tension as well? Is it coming to a head?
Well said Kynase. Definitely at the end of the road.
I’m not a betting man but I’m currently going with the idea that things are going to get rough. Consider the fact that no fiat currency has ever pulled out of huge debt successfully without incurring a collapse, and brother is our debt huge! There are many reasons I feel like we are in for a shock. Here’s one that was in the New York Post; {What does Treasury know? The Office of the Comptroller of the Currency (OCC) — part of the Treasury Department — put out a request for bids for survival kits for all 3,814 of its employees. Many of the bank examiners working for the OCC conduct on-site reviews of banks throughout the country. So that would mean survival kits would be delivered to every major bank in the US, including Goldman Sachs, Bank of America, Citigroup, JPMorgan and Wells Fargo. The survival kits must come in a fanny-pack or backpack that can fit all of the items, including a 33-piece personal first-aid kit with “decongestant tablets” and a variety of bandages and medicines, according to a report in the Washington Free Beacon. The kits must also include a “reusable solar blanket” 52 inches wide by… Read more »
The stage is set. The actors are in their places. The overture has finished. And, now…the curtain rises.
…and the man behind the curtain is exposed…
People are starting to look behind the curtain!!! Wonderful!!
Now….just stay away from the kool-aid!
Ken don’t sweat the trigger words, your name is already one. There has to be a department dedicated to following you, MD, Lisa and Rawles! I’m sure that they are also involved with figuring out who the followers are and if they are a threat.
Little ‘ol me? Nahhh…
Oh that’s right… if you are any sort of Constitutionalist, have American values in ‘borders, language, culture’, or if you support the Bill of rights, especially if you support the 2nd Amendment (and understand why it was put there), or if you support the 4th Amendment (the NSA hates that one…) then you’re an apparent enemy of the ‘State’ (guv). It’s crazy, is it not? WTF…
Well at least I am very well qualified! I fit in all those categories and them some. Heck, If I wasn’t pissing the .GOV off somehow, I figured I had a bad day.
Isnt it sad that we find ourselves in this position?
My pop must be boiling in his urn…
I am not convinced there will be “one major event”. The sheeple need to stay blissfully slumbering in the sleep of oblivion. I firmly believe it will b e a series of small, but cascading events that will one day cause the majority of the sheeple to awaken and wonder what the heck just happened? I call it the “Greek Effect”. Just like the current government of Greece and the bulk of its citizenry, seem to be “convinced” that once again, the IMF and ECB WILL bail them out. Not going to happen this time, and we will see revolution sweep through Greece with VladPutin and Company to step in and “assist” them with the Golden Handcuffs of Economic Slavery. The Greeks will accept that bondage gladly. Too bad for them. I am no economist, but I spent far too much time in my past career, seeing how things actually work and the “elitist” shenanigans that are consistently played in ALL societies. Yeah, I AM that cynical and pessimistic. I would like to “think” that most people would be at least being “concerned” with seeing the economic indicators that have been before us for some time, and have planned at… Read more »
@ TPS…I believe you are spot on….pretty sure it will be a series of smaller to larger events cascading into chaos.
Couple weeks ago we were crossing the southwest….train after train after train loaded with military gear going east! I mean we usually watch train after train loaded with ming yang or such cargo containers….but not recently. tanks, armored personnel carriers etc. LOTS OF THEM.
Just keep doing what you folks normally do….prepare, stock in supplies and communicate with like minded people. Best we can do.
Today, I canned 16 pints of bing cherries, made some dutch cocoa with cherry sorbet for tonight’s desert with a fresh cherry compote on top. Harvested 9 varieties of herbs, weeded the greenhouse and flower beds, and started the inventory of meds/antibiotics in the vault….will finish that tomorrow. Keep the Good Karma rolling!
There are two aspects to the debt. Current debt and what is called “unfunded liability” (SSN, Medicare, etc). You can get amounts for these all over the map, usually depends on the source, i.e. political motivations. Regardless of the amounts, I think sane observers would agree its probably beyond the U.S.’s ability to pay it off. I believe the same is largely true for Japan and the E.U. So paying off or managing the debt is not the right question. What is in doubt is the effects of not be able to pay it off. Ever. Again, predictions are usually across the map.
I like this site for scary stuff. http://demonocracy.info/ Although they haven’t posted anything new recently.
Strange when I watched C-span on the first trade bill that was turned down on Friday for assisting displaced workers….It was funded by taking Medicare funds of 700 billion $$. It was mentioned twice in the debate only by democrats. I shake my head at those who threw seniors under the bus to get run over again when Obamacare also took money out the same amount of the Medicare fund. Most were republicans, the hypocrites!
Ken, Astounded is pretty much how I feel also. I’ve been waiting for the ax to fall since I got out of the army in the 70s. All in all it’s been a good run and I figure it will all fall down when I take my wife to Hawaii. Can’t see not chancing a good vacation though and if I have to wind up in a refugee camp Hawaii would sure beat most other places. Just to change the subject a bit, do we still have a strategic grain reserve in this country?
@me, apparently not.
http://ppjg.me/2010/11/12/usda-no-strategic-grain-reserves-they-sold-them/
http://www.fourwinds10.net/siterun_data/health/food/news.php?q=1212803067
This is not good if true… As a country we are ridiculously reliant upon others. We used to be more self-reliant as people, better prepared, and the worlds manufacturing powerhouse. Now we are just a shell of what we once were.
Although I have lots of grain currently (‘wheat berries’ for milling into flour) this makes me want to get even more…
I think everything is going to be okay.
The Dollar has been around forever, that’s not going to change.
Everybody loves us, we are the envy of the world.
The Federal Reserve is an entity of the government, why else would it be called “Federal”, they’re looking out for us.
The Federal Reserve is called that because they have massive reserves, don’t worry.
The only reason why China could possibly have the gold they will claim to have would be because the gold in Fort Knox is so massive and heavy that some of it has trickled through the center of the earth to China.
Hillary’s “reset” with Russia has worked, and even if it hasn’t, “what difference does it make?”
And if any country crosses any ‘redline’ that Obama sets, they are history.
The flow of wealth to the middle class due to the overwhelming savings due to Obamacare will flood the retail markets with this excess money.
The closings of countless businesses that claim religious objections to perform unholy acts will flood oodles of cash into the bank accounts of lawyers and special interest groups.
What’s the problem?
Brilliant!
Are the new EPA rules setting us up for failure of personal survival by more restrictive land use?
The previously stable western nations are now full of pot heads and other addicts. Witness the latest fentanyl crisis where some are addicted due to medical practitioners prescribing the stuff, other people who choose a lifestyle of illegal drugs and now fentanyl is in every street drug as is car fentanyl. Even funeral directors are keeping the antidote on hand in case a stiff comes in to the morgue or funeral home with a gram or two of fentanyl on them. First responders are also being given the antidote kit along with their usual barrier equipment. Then we get the lobby group that wants to legalize pot (and everything in it?). I hear young people talking about how happy they are and some studies have shown that the brain does not mature until age 25 and that pot is bad for mentally ill people as it worsens paranoia. It also reduces ambition. I guess there will be more bums in mom and dad’s basement the 20 or 30 something who sleeps in until noon and does not work or go to school. Forget raising your children, if you have them you may be supporting them for life without them doing… Read more »