# The Next One Will Be The Big One



## UncleJoe (Jan 11, 2009)

http://usawatchdog.com/prepare-for-us-and-euro-financial-collapse-the-next-one-will-be-the-big-one/

I don't see how anyone could say the financial system is stable. The facts say it is anything but well-balanced and steady. The Western world is in crisis with Europe leading the way over the financial cliff. Pick a country in the EU. France, Greece, Spain or Italy are all capable of causing the next financial panic. I can't tell you how many times I've heard or read the word "collapse" in reporting on this spiraling financial crisis. On Monday, German media giant Der Spiegel ran a headline that read "Investors Prepare for Euro Collapse." The story said, "Banks, companies and investors are preparing themselves for a collapse of the euro. Cross-border bank lending is falling, asset managers are shunning Europe and money is flowing into German real estate and bonds. The euro remains stable against the dollar because America has debt problems too. But unlike the euro, the dollar's structure isn't in doubt." (Click here for the complete Der Spiegel post.) If the Euro goes down, the dollar will follow probably after a short spike. This is just one of many recent examples of the fragility of the financial system.

There is too much debt and not enough growth or taxes to service it. It's the same problem almost everywhere on the planet. Governments are just printing money to try and make the problem go away. Egon von Greyerz, founder of Matterhorn Asset Management ($5 billion in assets), said this week, *"This is why money printing is guaranteed in Europe, the US, UK and Japan. History teaches us that a nation which runs large deficits and increasing debts could never create wealth in the long-run. Wealth has never been created by printing money, and this time, like it has before, it will lead to a financial crash. This time the financial crash will be of a worldwide magnitude." * (Click here to read and hear the complete interview from King World News aka KWN.) 

Nigel Farage, outspoken Member European Parliament, also fears another approaching calamity. Just last week, he said, *"It isn't the euro that scares me anymore. What scares me is the sheer level of indebtedness, and the fact that so many of our banks in the Western world are just in such serious trouble that we could face a situation where even if governments wanted to bail them out, the problem may become bigger than them. So I do not discount, at some point, a really dramatic banking collapse." * (For the complete KWN interview click here.)

The next collapse will make the 2008 meltdown look like a day at the beach. According to Professor William Black, it looks like a mathematical certainty. Black is a former top bank regulator who helped unwind the Savings and Loan scandal. He is also a professor of both law and economics and studies why we have "reoccurring and intensifying financial crises." In an interview this week, he told me, ". . . *each crisis is becoming bigger by an order of magnitude. The savings and loan debacle was $150 billion roughly. The Enron era frauds and collapse of the high tech boom was six to seven trillion dollars. Just the household sector* (in the 2007-2008 meltdown) *lost $11 trillion dollars."* (Click here for the complete Professor Black interview.) If you add in $700 billion of TARP, more than $800 billion in stimulus, zero percent interest rates through 2014, FDIC deposit insurance for investment banks, the implicit guarantee of the "too big to fail" banks by taxpayers and the $16.1 trillion pumped out by the Fed to bailout the world-you have one colossal crisis. The next calamity will get bigger than the last by an "order of magnitude" because bankers, according to Professor Black, "can commit these frauds with impunity." (Black is referring to liar loans, security fraud of bundling those loans, ratings fraud, and the forgery and perjury of foreclosure fraud and many others.)

It is mostly the fault of greedy bankers who bought off corrupt politicians that allowed all the debt and bailouts to explode. You would think the politicians would make the stability of the financial system a top priority. After all, it is the cornerstone of retaining power. Look at Libya's Gadhafi. You may not like him, but there was a reason he stayed in power for 40 years. He couldn't have done it without a stable financial system. (He was also was sitting on 144 tons of gold. That's a lot of security, especially for a country the size of Libya.) So, whether you are a dictator or a democracy, you want a rock solid system with zero chance of collapse.

Professor Black says, *"We are rolling the dice every day to have the disaster."* In short, the next one will be the big one, and it can happen at any time without warning.


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## db2469 (Jun 11, 2012)

And yet the mainstream media, which is what the majority of regular folks listen to, if even that, are saying hardly anything about this...a hypothetical question: IF the threat of "collapse" was broadcast throughout the media, say, on a daily basis, would there be a panic created that might spark the collapse itself? Would it really be a good thing to let everyone know that it's coming? I would assume it would be, but would it really? What would be the immediate consequences of that? Would there be enough of a public outcry that it would force government and bankers to make changes to try to avert the fall? Would the newly informed public prepare for the event in a way that would be beneficial to them and the rest of us who've prepped (meaning less looting, etc after the fall)? 
DB


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## TheAnt (Jun 7, 2011)

db2469 said:


> And yet the mainstream media, which is what the majority of regular folks listen to, if even that, are saying hardly anything about this...a hypothetical question: IF the threat of "collapse" was broadcast throughout the media, say, on a daily basis, would there be a panic created that might spark the collapse itself? Would it really be a good thing to let everyone know that it's coming? I would assume it would be, but would it really? What would be the immediate consequences of that? Would there be enough of a public outcry that it would force government and bankers to make changes to try to avert the fall? Would the newly informed public prepare for the event in a way that would be beneficial to them and the rest of us who've prepped (meaning less looting, etc after the fall)?
> DB


I think the media has an obligation to report the facts. This means telling folks about the issues that face our nation... not trying to predict where it will all lead. Many folks would start to wake up if they knew the trouble we were in... many would not. I think most of the "zombies" today would not really change course or actions even if they knew the truth. Panic wouldnt set in until the consequences were in most folks face. Yes, I think the media is obligated to report the facts, not try to prop up a broken economy.


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## db2469 (Jun 11, 2012)

Yes Ant, they SHOULD be reporting the facts of this potential catastrophe and I'm sure many mainstream news organizations are aware of this threat but must be CHOOSING to not report it for some reason...I wonder if they think it will spark the collapse (as in panic). Remember when Bank of America said they were raising fees on something and the public outcry was such the bank cancelled those plans? Maybe there would be a public outcry if they knew the imminent danger they were in and perhaps it would motivate the powers that be to DO something about it..
DB


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## Moby76065 (Jul 31, 2012)

I do not think very many people see our countries financial situation as stable at all.
But I do not buy into the "over the cliff apocalypse either. Remember the USA filed bankruptcy once before in 1932. President Roosevelt wiped out America's debt with the stroke of a pen.
Not something I hope for, but certainly an alternative to the doom and gloom a lot predict. It's a better alternative should we have to.

http://usa-the-republic.com/emergency powers/United States Bankrupt.html


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## Woody (Nov 11, 2008)

I traded a bunch of green pieces of paper for another roll of silver eagles, just in case. Heck, you got me. They weren’t even green pieces of paper they were numbers on the computer screen. I traded something that I can only look at on the computer screen for something I can actually hold in my hand.


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## BillS (May 30, 2011)

db2469 said:


> And yet the mainstream media, which is what the majority of regular folks listen to, if even that, are saying hardly anything about this...a hypothetical question: IF the threat of "collapse" was broadcast throughout the media, say, on a daily basis, would there be a panic created that might spark the collapse itself? Would it really be a good thing to let everyone know that it's coming? I would assume it would be, but would it really? What would be the immediate consequences of that? Would there be enough of a public outcry that it would force government and bankers to make changes to try to avert the fall? Would the newly informed public prepare for the event in a way that would be beneficial to them and the rest of us who've prepped (meaning less looting, etc after the fall)?
> DB


If there was honest reporting about what was going on and the consequences of it, there would the opportunity for drastic political action. As well as individuals preparing for the collapse. There are a lot of people with enough money to prep if they were convinced the collapse was coming. Millions of lives could be saved.

The immediate consequence would be an overwhelming call for drastic spending cuts and regulatory cuts. And a call for the Fed to stop monetizing the debt before the dollar is destroyed.

Ultimately, it's too late. The deficit is $1.3 trillion. Unfunded liabilities are another $5.3 trillion. The Fed creates billions of dollars every month to finance runaway government spending. We don't have years and years before the collapse. Most likely we only have months.


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## BillS (May 30, 2011)

Moby76065 said:


> I do not think very many people see our countries financial situation as stable at all.
> But I do not buy into the "over the cliff apocalypse either. Remember the USA filed bankruptcy once before in 1932. President Roosevelt wiped out America's debt with the stroke of a pen.
> Not something I hope for, but certainly an alternative to the doom and gloom a lot predict. It's a better alternative should we have to.
> 
> http://usa-the-republic.com/emergency powers/United States Bankrupt.html


Do you know what hyperinflation is? Do the think the Federal Reserve can create billions of new dollars every month without drastic consequences to the dollar?

Germany had hyperinflation in the 1920s. In just a couple of years the exchange rate went from 4 marks to the dollar to a billion marks to the dollar. That's what's coming here.


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## Moby76065 (Jul 31, 2012)

BillS said:


> If there was honest reporting about what was going on and the consequences of it, there would the opportunity for drastic political action.


I think drastic politicol action is taking place right now. Joe Biden's advance team just asked a bakery in Roanoke VA if they could come there and do a campaign event. *Crumb & Get It* (the bakery) owner said no, they cannot come there due to Obama's "you didn't build that" comment. The bakery sold out of food by 1:00. And some of the Secrete Service guys bought food there and thanked him.


BillS said:


> As well as individuals preparing for the collapse. There are a lot of people with enough money to prep if they were convinced the collapse was coming. Millions of lives could be saved.


Estimates put close to 50% of America is prepping. Walmart and many other big chain stores are selling prepping gear.



BillS said:


> The immediate consequence would be an overwhelming call for drastic spending cuts and regulatory cuts. And a call for the Fed to stop monetizing the debt before the dollar is destroyed.


Exactly what ROmney/Ryan are calling for. 90 days and it's a done deal (I hope)



BillS said:


> Ultimately, it's too late. The deficit is $1.3 trillion. Unfunded liabilities are another $5.3 trillion. The Fed creates billions of dollars every month to finance runaway government spending. We don't have years and years before the collapse. Most likely we only have months.


You better hope your wrong. Or you've all the preps you need. I don't see it happening, but I'm no fortune teller either. I'm preppin as fast as I can just in case.


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## JayJay (Nov 23, 2010)

db2469 said:


> Yes Ant, they SHOULD be reporting the facts of this potential catastrophe and I'm sure many mainstream news organizations are aware of this threat but must be CHOOSING to not report it for some reason...I wonder if they think it will spark the collapse (as in panic). Remember when Bank of America said they were raising fees on something and the public outcry was such the bank cancelled those plans? Maybe there would be a public outcry if they knew the imminent danger they were in and perhaps it would motivate the powers that be to DO something about it..
> DB


I see the people at the top as already having 'theirs' and not giving a rat's a** who they stole it from or if the banks and all financial structure collapse.


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## BillS (May 30, 2011)

Moby76065 said:


> I think drastic politicol action is taking place right now. Joe Biden's advance team just asked a bakery in Roanoke VA if they could come there and do a campaign event. *Crumb & Get It* (the bakery) owner said no, they cannot come there due to Obama's "you didn't build that" comment. The bakery sold out of food by 1:00. And some of the Secrete Service guys bought food there and thanked him.
> 
> Estimates put close to 50% of America is prepping. Walmart and many other big chain stores are selling prepping gear.
> 
> ...


Based on what they said on the Nat Geo show, "Doomsday Preppers", only about 3% of the population is prepping. Based on the reactions I've gotten from friends, relatives, and church people I have to agree. A lot of people think I'm crazy. I don't know anybody who's prepping.

Sure, places like Wal-Mart sell camping gear. I don't know how much of it is really prepping gear. For example, I bought luggable loos from a camping and hunting place. A lot of people could use those. Not just preppers.


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## db2469 (Jun 11, 2012)

Moby...where did you read that close to 50% of people are prepping? That can't be true...
DB


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## UncleJoe (Jan 11, 2009)

Yeah, I find that one a bit hard to swallow also. :scratch


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## JayJay (Nov 23, 2010)

db2469 said:


> Moby...where did you read that close to 50% of people are prepping? That can't be true...
> DB


That would mean 5 of the 10 houses on this street are preparing??
I don't think so!! I know of 3 that aren't.
As Bill says, I have only met one prepper in 5 years living here.


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## prep4life (Jul 16, 2010)

Nah, not even close to 50% prepping. No way.
As long as Idol is on & they are getting their checks, they are happy.


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## UncleJoe (Jan 11, 2009)

I know of no one in our immediate area and in the last 5 years I've only met one other couple that preps, outside of the forum community that is.


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## labouton (Jan 24, 2011)

Where's the best place to buy silver?


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## Marcus (May 13, 2012)

I use Apmex since they have a wide selection and are upfront about the spread and their fees. They offer bullion and junk silver in bags. I've been very satisfied with my purchases. They're out of OKC.


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## partdeux (Aug 3, 2011)

LSM can't report on the financials, because they don't understand it. They like most American's believe tomorrow will be like today.

My MBA Finance Prof, retired exec VP from Federal Reserve was asked one day what holds the system together. He said that's based on trust. Next question, what happens when that trust fails. He answer still resonates in my head, "you don't want to see that trust fail".


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## lazydaisy67 (Nov 24, 2011)

I think "prepping" can be defined in many different ways. If you're talking about people who are putting a few extra cans of green beans in their shopping cart every shopping trip, it could be close to 50% of the population. If you're talking about prepping like we are it's much closer to the 3%.

So let's say things start sliding at a faster pace than they already have been. How exactly does that look on the news or in the papers? I mean, how do I know that it's time to take that final trip to the bank to withdrawl all my remaining cash and head to the store? Not that I have a lot to withdraw, but you know what I mean. What is the key headline, or warning bell that makes it official? Some people say we've already had our warning bells, some say it hasn't happened yet. I KNOW things are getting worse, I just don't know how bad is bad enough to kick everything into 5th gear. There are so many different sources for news that I find myself not listening to any of it cause I don't know what is true, what is false and what is slanted in either direction. 

Also, I have yet to get a difinitive answer about the mortgage. If hubby's job closes it's doors and money isn't available to make a mortgage payment, does the bank send somebody over with a padlock to kick us out? How exactly does that all work? I just need to know that I will have a roof over our heads after TSHTF.


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## db2469 (Jun 11, 2012)

Daisy...about the mortgage, I have no certain info and I doubt any of us do, but if the collapse is a real bad one as we've all talked about then virtually no one will be at their jobs, it'll all be about basic survival at that point. IMO, since no one will send you a monthly mortgage bill or the PO won't be delivering it, how could you be expected to pay it? Who do you pay and how does it get there? And after the SHTF and there is some societal reconstruction, the currency will probably be different, in fact, SO much will be different, I doubt if anyone will collect your balance.....just a guess!
DB


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## BillS (May 30, 2011)

I'd watch for sudden large increases in the price of gas. It's going up 25 cents a day or more. Or 50 cents a week, for week after week.

There are countries talking about how they're hesitating about taking dollars in trade. Maybe OPEC has a meeting about that and Saudi Arabia is able to get them to continue accepting dollars for the time being.

US debt has officially downgraded. Silver, gold, and other commodities are skyrocketing at the same time the stock market is collapsing.

Or the Fed announces QE3. Every scenario I've read about the collapse of the dollar starts with a new round of QE.

As for your home being foreclosed on if your husband loses his job, you can check this out:

http://wiki.answers.com/Q/How_long_...se_after_a_foreclosure_and_sale_has_been_done

It depends on what state you live in and how long you can delay the process. You can find more information here:

http://www.all-foreclosure.com/


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## lazydaisy67 (Nov 24, 2011)

Well, he's not on the verge or anything, but I assume if things go south he and everybody else will be out of work and hundreds of thousands of folks won't make their payments.


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## kappydell (Nov 27, 2011)

im concerned about all the folks that hink if the economy tanks and we have a depression that they wont be responsible for their debts. during the last depression, mortgages were simply transferred/sold to banks that were not closed, and you were expected to pay (with that money your original bank would not give you) anyway. i do not think they would do anything less nowdays, so please do not run up debts thinking that a bank failure/closure would cancel them out! you should be paying them off, not making more.


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## lazydaisy67 (Nov 24, 2011)

I agree wholeheartedly about debt. We don't have any except the mortgage.


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## BillS (May 30, 2011)

kappydell said:


> im concerned about all the folks that hink if the economy tanks and we have a depression that they wont be responsible for their debts. during the last depression, mortgages were simply transferred/sold to banks that were not closed, and you were expected to pay (with that money your original bank would not give you) anyway. i do not think they would do anything less nowdays, so please do not run up debts thinking that a bank failure/closure would cancel them out! you should be paying them off, not making more.


I think it makes more sense to prepare for the collapse and worry about your debts later. It's better to have food stockpiled than have your debts paid off. I'd rather make the minimum credit card payments and keep my investments in gold and silver. There's a good chance we'll see a big spike in gold and silver prices before the collapse. If $5,000 in metals becomes worth $50,000 or $100,000 or $250,000 I'll be in great shape to get debt free and get some expensive preps I can't afford now.

Most likely there will come a time when the collapse gets close enough that I'll stop paying on my debts to conserve cash. Unless metal prices have already taken off. When gas hits $10 a gallon there's a good chance the collapse is getting close and people should act accordingly. I think the collapse will happen this fall.


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## hiwall (Jun 15, 2012)

Everybody here knows how important preps are. But if the economic collapse is gradual and takes a couple years then you better have kept up your house payments. Alot of preps sitting on the street cause you no longer have a house don't make much sense. When banks are in trouble they WILL seize all their assets and sell those assets.


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## db2469 (Jun 11, 2012)

BillS said:


> I think it makes more sense to prepare for the collapse and worry about your debts later. It's better to have food stockpiled than have your debts paid off. I'd rather make the minimum credit card payments and keep my investments in gold and silver. There's a good chance we'll see a big spike in gold and silver prices before the collapse. If $5,000 in metals becomes worth $50,000 or $100,000 or $250,000 I'll be in great shape to get debt free and get some expensive preps I can't afford now.
> 
> Most likely there will come a time when the collapse gets close enough that I'll stop paying on my debts to conserve cash. Unless metal prices have already taken off. When gas hits $10 a gallon there's a good chance the collapse is getting close and people should act accordingly. I think the collapse will happen this fall.


I agree and that's what I'm doing...I just don't believe the collapse will happen in the Fall (that soon) especially if there is no QE3...


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## partdeux (Aug 3, 2011)

db2469 said:


> I agree and that's what I'm doing...I just don't believe the collapse will happen in the Fall (that soon) especially if there is no QE3...


There will be a QE3 (which has already happened, they just didn't call it that) QE4 before the election, and QE5 after the election. That should be the final straw.


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