The monetary system will utter collapse in 60 days, currency will be worthless by Christmas

cg,

Do you see them issuing a new currency as the old currencies become worthless?

yes, one world currency, the obama dinar or dollar who knows what they will call it,but it means end of days

The issue is the political climate, not the monetary policy, no matter how bad, it is money and a deal can always be cut,

But in a fierce political climate, the people rebel against the deal that is cut and the details of the deal get out fast and leaders lack th gumption to say, this is what is right in the future u will see,

With the internet, information goes out fast, and so do the extent of petty grudges and politicans cannot go against the people,

They will try to get a deal this week and then next week or the week after that the dissent will be felt and that is when the crisis really begins, simply when the deal the pols make faces a popular rebellion,that is grave, that is doom.

There has always been a divide between petty, angry unfairness and swallowing hard for the greater good, and when this is made visible pols falter and that faltering in a key moment can be gravely destructive

What makes you think this week?

They are trying to get a deal right now, I was walking home, thinking how this could all just fall apart so suddenly without warning, from tiny greece, not getting 10 billion euros, into ww3,

Well it is more like ww1, an assassination forced a series of treaties to be honored and the world was at war,

Same here, but the treaties are financial, but still involving governments nonetheless,

greece defaults It legally cannot be kicked out of the euro, they have to change the charter to get them out, their debt triggers spain, italy portugal and ireland, french banks fail and then german banks,

You see, germans don't want to help out greeks, even when they signed a treaty that forces them to do it, the political will is gone, their right, their former east germans who knew the pain of communism are repelled by this unabashed socialism and swore no, no no.

And they come from ecomonic ruin and it does not scare them.

They are making a statement today, greece might not actually default today but groundwork will be laid,

this will ruin my black fryday lcd tv puchase plans damnit

Ultimately, the US had the tarp, the 700 billion given to the banks in 08, and repaid, it was the most successful government program in the last 60 years, seriously, saved the financial system from ruin and made a profit, unheard of and now the banks are much stronger.

Yet, the people hate tarp, they were ten to one against it and they hate it today, if u took a glp poll on tarp they would despise it, simply because it was corporate socialism that bailout out the bankrupt elites while the average citizen chokes on the nut.

So imagine when Europe gets out of hand and the US, China and Japan have to pony up say 5 trillion to save the collective sovereign debt, save the fiat currency for fiat currency has ZERO value without the government guarantee and with the euro thay may well disappear overnight.

You think the people on glp or even average citizens will accept say a %6 percent national sales tax to pay up or increase the federal debt by 40-50 percent, No, no, no.

And when the elites, the pols say, if u don't accept it, the banks will simply close their doors and atms will no longer have money and no one will make payroll.

Be taxed or no money, what do think they will choose, or rather will they meekly accept this economic blackmail? I thinkthe elites will willingly accept this blackmail, they would pay the way u pay a mafia capo, protection,

BUT

with google, with the internet the word will get out so fast that the popular voice will be to say no, to refuse, like if tarp were today, it would never have passed, the most successful program the govt ever had..you know what I mean.. would never pass.

And that is the doom, the paralysis while the banks close their door.

After that, the military martial law, a unified world currency probably overseen by the fed, huge melding of sovereignity, something anything to restart the system.

this is the world's smallest violin playing the blues for u

What is really scary, it how unprepared everyone is,

I mean, whatever happened to people with the gulf and fuku is not sick and dying in hospital beds stretched out as far as the eye can see.

But this could easily be economic doom that is on a scale with the worst nightmares of all other dooms, riots starvation, what will millions do when they cannot heat their homes or buy food, those with preps will survive, those few with generators will ride it out. but the rest, doomed.

Ultimately, you think they will come together and they will but it will be too late for money, it will literally be vaporized, by the simple fact that fiat currency cannot survive a default, it lives by the strength of the promise behind it, it can be devalued, a quasi default, a haircut, a partial default, russia, argentina various other countries, but not a total defaultbased on total insolvency, and the inability of the politicans to create emergency powers,

Great post. I'm wondering if you are just waking up or just chose this post to voice. You are very articulate though I disagree with some points but the theories are solid. Own things you can trade. Have extra food stores and ways to protect them. Have plans in place to bug out, to stay put and lists of action items during the first few days of a collapse. Meet your neighbors but don't share your ideas.

I often ponder the term Antichrist. I always remember Christ's message, the meek shall inherit the earth...

Sarah: “And once the Incunabula has control over oil production, what then?”

Dr. Neruda: “The dismantling of hard currency. The Incunabula desires to have an electronic currency because it tracks everything and enables a more thorough analytical insight into the affairs of the individual.”

Sarah: “So what do they want to do with all this information?”

Dr. Neruda: “They want to observe patterns and manipulate events in order to protect their dominance as a leadership body, and, as I said earlier, they want to define the new systems and manage system change. Once this dominance is perceived as reaching a critical mass, the Incunabula plans to create a global body of governance that brings stability to Earth and a set of policies that aid humanity at large.”

Sarah: “Again you’re telling me that their goal is to help humanity, but I find it hard to believe.”

Dr. Neruda: “In a way it is the only way they can retain power. If they concentrate wealth and services too much, they will lose control of the population they seek to govern. Rebellion is never far away when empty stomachs grumble in unison.”

Sarah: “How will they dismantle our hard currency?”

Dr. Neruda: “There will be a gradual de-valuation of the stock markets worldwide. Americans in particular have become accustomed to easy money production within the stock markets, as well as lavish lifestyles. This will not be permitted to continue indefinitely. Recessions will occur in waves until the value of currency is called into question. This will begin in third world countries first, and as these become the initial victims of feeble economic policies, the Incunabula will essentially force these countries to sell their assets at rock bottom prices in return for helping them out of economic crisis.

“In the best of times, the world economy is a fragile patchwork of economic systems that run at different rates without a smooth interface or a macro system in which to operate. In the worst of times, it is a house of cards vulnerable to the faintest of winds. Hard currency and the monetary system that supports it will become a scapegoat of the economic slowdown, and electronic currency will increasingly become the solution to the general malaise of the global economy.”

[link to www.wingmakers.com]

The above was written over 10 years ago (in a semi-mythical storyline) and it's happening precisely as it was written. It is hard to see co-incidence here.

Thh thing is it will happen so quickly and so severely,

It is NOT about the MONEY, it is about power, it is about, FAIRNESS, why should I work hard to bail out someone who is a wastrel, and this is ultimately negative.

You know Germany is not a sure thing to ratify their european stabilization fund, their TARP, you remember the most successful govt program ever, that staved off doom 3 years ago, that 700 billion which was repaid and made a profit.

You know when the collective will is---you lost the money, not pay the consequences no matter how bad and I don't care if i suffer too--this attitude will end the currency for the system the fiat currency is enforced, both by payout out more and more with interest and by having very severe consequences on those who do not pay

For example I know someone who just decided to walk away from over 350K of credit card debt, and he did not pay a dime, did not declare bankruptcy, just never called the creditors, one sued and lost, and one settled 25k for a thousand, just walked away,

Now, people are furious when the elites do this, and it is worse when countries do this and u have to bail out foreigners who do this and threaten the basis of the ecomonic system if you don't pay them off,

In such a negative environment, it is hard to come up with the grand big time bailout that makes the problem go away and the debtor basically gets off scottfree, and that is truly galling to so many and these people scream, tear it down, bring on the default that a world of barter and perps is better than the unfairness, and it is unfair that we have now

There are no "foreigners" and country fights. There is only one center of power in globalized countries: The Globalists / The Elite. They control all (globalized) countries. Do you think the Greek people or the Italian people or the Irish or even the Germans, decide their fiscal policy? That's up to the Elite's puppets. The same with the U.S.

Only leaders in non-globalized countries act of their own will and they are all targeted for replacement.

what the hell is sad about it ?
let them all fugh off and hide,do plastic surgery,hide in their bunkers WHATEVER.

and anyone that cannot grasp THAT THIS WAS ORCHESTRATED isn't capable of handling a sippy_cup.

It's all about the credit default swaps.

Actually it's more than credit default swaps, those were so 2008, when the banks and brokers had paper that was not woth anywhere near what it was rated, result was collateral was needed and the government, the taxpayers put up the collateral 700 Billion and we got paid back,

Here is where it is worse, a lot of people did not want to put up that money at all, under any circumstances and would have preferred whatever happened and gone from there in a new system no matter the shape, that attitude is much stronger now,

and now it is sovereign debt, that is whole countries needing additional collateral from other countries, that is Germans bailing out greeks and italians, and americans and chinese bailing out europeans who would NOT, NOT NOT do the same for us and who diddle us around when we need them.


The chain of default stops somewhere, and hee is the interesting fact, fiat currency goes down when there is more debt than assets, and when in a default, when u can't pretend an asset is worth what it is worth, when because of gridlock u don't have a government pretending what it is worth and when u have legislation that demands these things be unwound immediately, u get a scenario where CCOLLECTIVELY the world has more debt than assets and hence the entire world is BANKRUPT, and bankruptcy laws were tightened up, not loosened, so collectively al debts could be called for immediate repayment on a governmental level which includes all banking institutions and then a world where all debt is gone and all ownership of assets are transferred god knows where and it is literally the doom glp has been waiting for, this isthe doom.

There are many, many exit ramps from this doom but to take them means that americans would have to bailout euros and god know who else who hate them and would not do the same, or chinese who hate americans and still bail them out, communists who hate capitalists bailing them out,

You have to have that level of dislike put aside to avert this crisis, for the information age has laid bare the true natures of the people and the politicans are hyper sensitive to the needs or their people and in this case they will go into gridlock,

And gridlock will be the true doom

Here is the thing, this gets more and more interesting as u get the details and the tptb are not simplifying the details, as they could, Greece cannot get out of the euro, legally and if greece defaults, every euro loan would have to restructure, they would all default, so they HAVE to be bailed out or it all goes down, BUT there is no political will to do more than incrementalism, an that would do the trick.

If a playboy racks up debts that exceed his inheritance, the banks seize his property andhe is in the poorhouse,

Collectively, the major world nations are in this situation, and they cannot raise revenues, the people are furious, nor cut spending, thus they play a lot of game, buy assets, cook books, if a company or an individual did this, they would go to jail and be a fraud, that is why govt official love their jb, they are doing on a national level all the things they were forbidden doing in the private sector, but the governments are effectively broke, and the huge sums that have to be generated immediately are HUGE numbers and need a crisis to get through,

BUT the mechanism for the poor family, the playboy or the big company are all essentially the same, you go broke u lose everything, it is sold for partial repayment, calling in the loan.

NOw, this is about to happen on the level of the government, and then the political solutions will be seen as the double dealing, the self dealing that is illegal for individuals, and it will be utter panic and also no one will really believe that this crisis is the total meltdown, and it is, more than any other, all the others were saying we are living in x but should be x minus 30%

losses and then moving on,

Here is we are living on x--we owe x plus 20 percent we sell everything and leave you to start again, Ecept this is governments that seel out every asset of every person, I mean every asset, of every person, all totally gone.

This was what was about to happen in 2008, and they bought time, however the initial success, fostered feedback, a sense of the rich got bailed out on our backs, mad as hell, etc, but they were bailed out to save the system, so now it will strike again and it might not be possible to stop it on the level of the entire euro, everything will go down by the every agreements that created the mess, the solution is very clear, liquidation,

The only way to avoid it isto ignore it and let it march through court and that will happen but that still means all the banks close, etc.

Interesting read.

But I reckon the instability at the moment will affect the EU and hopefully, it will bring the EU dollar down, reduce the margin.

well, the thing is nobody realizes how powerful the glp voice is, how powerful the voice of responsibility is, pay your debts and if u we welcome economic doom, the old voice of stability is being drowned out.

I should do a poll of how many would let the world go 100% broke, even worthless gold and silver, 100% doom with all preps seized or killed, doom in order to punish the wicked debtors, stop the free ride, and you dont even need a majority a loud small minority will be more than enough.

Too many 'chosen people' have too much USD currency. Why would their cousins crash the economy? That is very far fetched.

It's more likely that they will announce a new US currency. One for the 'chosen people' and on for errbody else.

The they can crash the alternate gentile currency without harming their nepotistic fortunes.

U assume that the "chosen people" are 100% united in the choices and beliefs

Nothing is further from the truth,

They are bitterly divided among themselves, just as it seems that everyone else is divided in their opinion, if only for a matter of power and control and ego.

It is a sort of financial cold war, pay us not to crash the system, but another faction really does not care if the system crashes,

I mean I u r sleeping on the floor of the port authority, how much worse can it possibly get for you and u have the privilege of forcing everyone else to that level,

While the homeless have no monetary power, they do have voices and they do have VOTES!!! and with the computer, the voice is unattached from the person, as with all glp posters, including me for example,

As when this cyber voice for the moral hazard is fully mobilized, the politicans will be momentarily checked in their ability to bailout the eu, bail out the us and with no market for the developing world, no ability to save the brics, the mortgage crisis in 2008 knocked out everyone, even the strongest banks, could not run with frozen credit.

So when the bailout comes and the people say no, then it is a crisis that is THE crisis, nothing will have value, not even silver, no even gold, and food will be consumed, eveything will be distributed by the government, that will test the logistics of the computer, in fact, the computer logistics and individual heroics will be the only things that will save millions of lives,

THEN, u will see obama the antichrist with unlimited "emergency powers,"

Then u will see the nuclear war and u will see your doom.

Of course, this does not have to happen, I just say as a worst case, it could.

Excellent analysis, McCrash... They will not default, but will continue printing money until Saudi Arabia has its Arab Spring, at which time oil will be cut off, and the dollar will collapse in value, meaning our national debt will have been successfully devalued.
At some point there will also be a default, as interest rates skyrocket on the devalued short term debt. Our highways and national parks-- stuffed with national resources like oil-- will be auctioned off for pennies on the dollar to "pay the debt," just like the bankster crooks are now doing in Greece... The US will be left as a shell-- after which they plan to depopulate this country down to 100 million or so. Oh, and the huge unfunded liability is mostly social security payments for the outer years, which dead people won't be using! Hence the unfunded liability is solved.

There is an answer that would solve all the problems of sovereign debt and stabilize the system, it is called a tax, pay for everything, repay the runaway debt,

But it won't happen, the resentment is so strong, so many individuals have been so pressured by the system, that there is no love to help out and especially help out to keep the banksters in money while the people are harassed and tormented to death by creditors etc.

This will end very badly, bor when the people are willing to acept a tax, it will be too late, once the perception of value disappears, then it is all over,

Worthless by christmas part is right on!

I think one of the reasons people don't trust a tax is because they have little faith in how the government will spend those additional revenues, and little sympathy for the people who created this debt.

The truth is all these derivative based products, including those surrounding sovereign debt, have their roots in high finance where a relatively small number of people made millions, but most people saw no economic benefit.

It's not the fault of finance that they made money, though I blame government for not regulating this to some degree. But it isn't the responsibilty of the taxpayer to bail them out.

And the problem with using taxes to bail any bank out is simple moral hazard. Do it once and you'll always be expected to do it.

One thing I know about politics: Fair matters more than effective. People would rather have everyone be broke than perpetuate a patently unfair solution. So, we collapse.

Its a good question. The obvious answer is lack of political support. That being said, we all know there is an agenda at play here. We are going into the abyss without more easing. I suspect its coming.