This post will probably touch on some things that are hot-button issues today. It is not my intention to start a fight or create division within the site... we were all drawn here for the same reason - Dr. Dartnell's book and the very real concerns it raises.
Back before the great crash of 1929, we heard the very same empty promises, cooing and soothing noises from the alleged 'experts' about if there was even a crash on the way... the one lone guy who went against the flow and said there would be a crash? Well, he was mocked and written off as a crackpot. A Doomsayer. History remembers him as Roger Babson. History does not remember his critics.
Back in 2008, our own crash began. In fact, it didn't really stop - it just traveled the world on a sightseeing tour before deciding to get serious about taking down the economy. The patterns set back in '29 and those we are seeing today are eerily similar. A nosedive, followed by a small rally. Currency devaluation followed by another nosedive, followed by another small rally...
Some things to ponder:
- The Fed has been printing currency at 2008 "emergency" levels since 2008 and in fact never stopped. Their last hole card to play was to lower interest rates to zero - essentially "free money" - and open the currency spigot wide open. When the next serious crash hits, what will be their response? They cannot even afford to joke about raising interest rates.
- The only reason we have not had hyperinflation in the US is because all the currency invented to bail out Wall Street is being held by the banks. If it hits the street, say goodbye to the dollar.
- The current US debt is 19 Trillion. That is all they will admit to. If you count everything, including "unfunded liabilities" - which I think everyone here knows to mean "stuff you're on the hook for, but the bill hasn't come due yet" - our real debt is north of 200 Trillion.
- It is now mathematically impossible to pay our debt off.
- The derivatives market is currently leveraged 30 to 1. It's sitting north of 600 Trillion right now.
- China's economy isn't growing at the 7% rate the Official Party Line says it is. It's more like 2.5%. In 6 months, they'll be lucky if it's 0%.
- In the last 10 years, 50,000 (yes, you read that right - fifty thousand) factories have closed in the US and either locked their doors or went overseas.
- The Official Figures from the US Government re: employment are, frankly, what comes out of the South end of a North-bound cow. Those who have been unemployed so long they no longer qualify for Unemployment are not counted in the "official" numbers. The "jobs" that have been "created" are mostly part-time ones. Though it has been long admitted that the "real" unemployment number depends on how you calculate it, a good ballpark number is somewhere in the neighborhood of 12%.
- There is now more than one claim per ounce of gold in the world. Which means when the music stops, many folks - even entire countries - will be holding worthless paper. The gold they bought never existed. Or was sold out from under them. (See: Bullion Banks).
- The food in the average US grocery store now comes more than 1000 miles before it makes it to your grocer shelf. Two generations ago, most food was sourced locally, from local farms. Big Ag and the Superfarms have almost rendered the small farm extinct. Government meddling has skewed the market to the point where what's needed most isn't being grown.
- Best estimate of the size of the coming crash? 20 times the magnitude of the biggest crash we've ever had... it will be world-wide in scope.
I'm thinking time is very short. Earlier this year, I would have given an estimate of about 3 to 5 years before the economy cratered and the dollar imploded. Now? Now I wouldn't give you odds on 18 months.
Coupled with the above Bad News, the other societal pressures are building to the point where only the smallest of excuses will be needed to light off what is euphemistically called "social unrest"... uncontrolled immigration, racial issues, over-militarized police, wars-for-profit, wars-for-expanding-empire, intrusive government, egregious government overreach, more and worse...
Does the coming Crash have the potential to take down the West? I believe it does.
If you all haven't done so, I suggest getting together what you can, while you can. Standard 4 B's: Beans, bullets, band-aids, bullion (the metals, not the soup cube). Set up a rally point for kith and kin in case communications go down. Find a bolt hole to hide in as best you can... tribe up with like-minded folks and family. Avoid the fortress mentality. Every fortress that has ever existed, has fallen sooner or later.
“Life is slavery if the courage to die is absent.” - Seneca