by Dave Hodges, The Common Sense Show:
The United States is teetering on the edge of financial disaster. The conditions are so severe it could happen by tomorrow, next week, or next month. Everywhere we look, the economic news is grim.
Earlier this year, the Bank of Scotland is telling clients that 2016 is going to be a “cataclysmic year” and that they should “sell everything”. Deutsche Bank failed all of its stress tests as have every other bank.
The collective market value of companies listed on the S&P 500 has dropped by a trillion dollars since the start of 2016, and panic is spreading like wildfire all over the globe. RBS, is on the record saying that the only logical thing to do is to “sell everything” except for high quality bonds. Our largest bank, J.P. Morgan Chase, is “urging investors to sell stocks on any bounce”…
If we are witnessing the world’s free fall into a major global deflationary crisis, the price of oil needs to get back above 5$0 a barrel. Yet, Dallas Federal Reserve Chief, President Robert Kaplan, recently stated that the price of oil is going to stay very low for the next several years to come.
The life is being sucked out of the economy as total business sales are 15% lower than they were in late 2014. Both businesses and individuals are going broke. In April of 2016, commercial bankruptcies were up 32% and Chapter 11 filings were up 67% on a year over year basis. Nobody is safe.
The statement “collapse is imminent” is an overused phrase. However, collapse is imminent. I look for banks to begin to steal people’s money.
Last week my wife and I were dealing with a safety deposit box issue in one of our banks. Through the course of the conversation with the bank’s Vice President, I stated that I knew that when people deposit their hard-earned money in the bank, according to judicial rulings (2012), the deposited money belongs to the bank and all citizens with bank accounts are now considered to be unsecured creditors. I went on to say “it is not likely that the banks would steal people’s money, unless there is a run on the bank. And if there is a bank run because of dire economic circumstances, the banks will steal all of our money including my safety deposit box.” The bank officer’s face turned white as a ghost and I thought she was going to pass out. The look on this bank officers face told me everything that you and I both need to know about the condition of the bank and the economy in general. The collapse is coming and my strong advice is to not leave anything in the bank that you cannot afford to lose.
Is there anything that the average person/investor can do?
Economic Self-Defense Measures
When in Rome, do what they Romans do. Since most people in the know are aware that the economic collapse of America is a planned demolition orchestrated by the criminal elite, it would be prudent to look at what they are doing in order to not fall victim of the same trap they have set for you and me.
Both Warren Buffet and George Soros have done very similar things with their money since 2014. We would be wise to pay particular attention to George Soros. He may be a sorry excuse for a human being, but he is an economic hit man of the highest order. He perpetuated the Arab Spring and numerous other financial troubles in nearly every western nation. When Soros moves his own money, the world should be paying attention.
By observing the criminal elite (e.g. Soros), I have come to a number of conclusions that I have implemented into my financial plan that I want to share with the readers.
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