By Christopher R Rice (from leaks, hacks and news sources), theUnderground
The US KBW Bank index, which tracks large US banks and serves as a benchmark for the banking sector, is down 2.5% at the moment. It has dropped 17% from its post-Financial Crisis high on January 29.
Of course European banking stocks are doing much worse. Right now they are down 27 percent from the peak and 23 percent from a year ago.
If they aren’t healthy, nobody is going to be healthy for long, and it is starting to look and feel a whole lot like 2008.
I have previously warned my readers that the damage caused by this trade war would get progressively worse the longer that it lasts.
Many companies have been trying to ride it out, but eventually the money runs out and layoffs start happening…
The demise of the United States as the global superpower could come far more quickly than anyone imagines.
People need to understand the threat is at their doorstep. It’s not a few years off or a decade away; it’s here now. We are right in the middle of collapse.
Each one of the FAANG stocks is now down by more than 20 percent, and they have combined to lose more than a trillion dollars in value. We haven’t seen anything like this since the financial crisis of 2008, and at this point all of Wall Street’s gains for 2018 have been completely wiped out.
The following numbers come from CNBC…
- Facebook: $253 billion
- Amazon: $280 billion
- Apple: $253 billion
- Netflix: $67 billion
- Alphabet: $164 billion
When you add those figures together, you get a grand total of 1.02 trillion dollars.
Our economy is more dependent on Wall Street than ever, and it is absolutely imperative that we have a healthy financial system. Now that the financial system is starting to crumble, a lot of people are becoming highly alarmed.
As a result, economic activity will crash at a pace that will make 2008 look like a Sunday picnic.
The U.S. economy almost collapsed on September 17, 2008. That’s the day the Reserve Primary Fund broke the buck. Panicked investors withdrew a record $140 billion from money market accounts where businesses keep cash to fund day-to-day operations. If withdrawals had gone on for even a week, the entire economy would have halted. That meant trucks would stop rolling, grocery stores would run out of food, and businesses would shut down.
Update: GE Plunges Again
General Electric Co. shares sank in early trading after two analysts sounded more alarm bells around the company’s liquidity, and a report said former GE employees were being questioned by federal investigators about its troubled insurance business.
Deutsche Bank analyst Nicole DeBlase slashed her price target on the stock by more than a third amid continuing questions on the beleaguered multinational’s liquidity outlook.
UPDATE: Oil Drops below $50 for First Time since October 2017
Saudi Arabia has been pushing OPEC and its non-OPEC allies, led by Russia, to agree to reduce production given the more than 30% decline in prices since last October.
UPDATE: Crypto’s Worst Week Since Bubble Burst Puts Loss at $700 Billion
The great cryptocurrency crash of 2018 is heading for its worst week yet.
UPDATE: Asian Stocks Lose $5 Trillion This Year With No End in Sight
After a slump in U.S. stocks, Asia’s main equity gauge has finally succumbed, entering a bear market overnight. The region’s equities have already lost more than $4.9 trillion in value this year.
UPDATE: Federal Reserve Warns of ‘Particularly Large’ Market Drop
“Even if central bank policies are fully anticipated by the public, some adjustments could occur abruptly, contributing to volatility in domestic and international financial markets and strains in institutions,” it wrote.
Our system will not be able to handle a decline of that magnitude. There is more leverage on Wall Street today than ever before, and a huge decline in stock prices would lead to a meltdown unlike anything we have ever witnessed.
Most people simply don’t understand the gravity of the situation. Nothing was ever fixed after the last financial crisis. Instead, we went on the greatest debt binge that humanity has ever seen, and central banks started creating trillions of dollars out of thin air and recklessly injected that hot money into the financial system.
So now we are in the terminal phase of the largest financial bubble in human history, and there is no easy way out.
And that is why our leaders have been piling on the debt and global central banks have been recklessly creating money.
But it is inevitable that our bad choices would catch up with us, and the pain that we are going to experience is going to be absolutely off the charts.
While the initial scenario we face in America will be one of stagflation, many necessities and the means to produce those necessities will skyrocket in cost. There may not be inflation in every sector of the economy because imploding demand could offset some of the effects of falling currency value, but there will be extreme inflation in the areas that hurt common people most.
A U.S. economic collapse would create global panic. Demand for the dollar and U.S. Treasurys would plummet. Interest rates would skyrocket. Investors would rush to other currencies, such as the yuan, euro or even gold. It would create not just inflation, but hyperinflation as the dollar became dirt cheap.
(The FDIC currently only holds enough reserve for 40% of the nations current depositors, which is pointless anyway since the dollar will have no value)
When the U.S. economy collapses, you will not have access to credit. Banks will close. Demand will outstrip supply of food, gas and other necessities.
In our highly interdependent system in the West in which more than 80 percent of the population has been domesticated and is psychologically incapable of self-reliance, it is very likely that a disruption of normal supply chains and services would result in considerable poverty and death. Such a threat would invariably lead frightened and unprepared people to demand increased government controls so that they can return to the level of comfort they have grown accustomed to.
Their solution will be predictable.
Much has recently been written about the possibility of impeaching President Trump. We should be looking at the possibility that President Trump will find himself believing that he is in a corner, under siege, and he will resort to what all trapped animals do — fight like crazy to survive.
What could he do? I fear that his temperament is such that he will announce that the press, the Democrats, the deep state, in and out of government, have been building a case to remove him from office via a vast conspiracy of trumped-up charges.
He will say this is a potential coup that cannot be allowed to come to fruition.
For the good of the country he will say that he is declaring martial law and that he will hold free and fair elections within the year. Martial law will allow him to suspend the Constitution, remove all or part of Congress, take over all judicial proceedings and detain whoever he wants via his police powers.
Who, or what, will be asked to enforce his extra legal usurpation of authority? Traditionally, in countries around the world, when martial law is declared the military is tasked to enforce all orders, proclamations and directives. This has lead to civilian demonstrations, often violent, against the new order. Usually the military is given a free hand to maintain law and order by whatever means necessary.
Will the military obey Trump’s dictums? The Universal Code of Military Justice (UCMJ) explicitly states that all military personnel are obligated to refuse to carry out an illegal order. However, if a military person refuses to carry out what is later determined to have been a legal order then the individual can be tried for treason. How many will be willing to take the chance of being tried for treason?
I am strongly suggesting that there is an increasingly real and frightening possibility that Trump will resort to martial law.
For those who believe that there is a near zero probability of President Trump declaring martial law I quote what he said recently at a meeting with conservatives and evangelicals: “We’re under siege and we know how to fight better than anybody and we never ever give up.”
Dueling accusations of criminality, investigations instead of debates, jail promised to the loser – is what politics would look like in a WWE future where government is a for-profit television program.
UPDATE: Trump retweets image of US deputy attorney general Rod Rosenstein behind bars ‘for treason’
Donald Trump has retweeted a mocked up image of a range of people the president considers enemies behind bars, including the US deputy attorney general Rod Rosenstein.
The tweet, which was posted by an account called The Trump Train, also includes Barack Obama, Bill and Hillary Clinton, and Robert Mueller, with the caption: “Now that Russia collusion is a proven lie, when do the trials for treason begin?”
LEAK: TOP SECRET, CLASSIFIED: TRUMP’S HIDDEN AGENDA: Trump Planning Mass Arrests, Military Tribunals For Deep State Traitors
UPDATE: GM has just announced closing 7 US plants and laying off thousands of workers.
Assembly lines in Oshawa, Ontario; Detroit; and Warren, Ohio, and propulsion plants in White Marsh, Maryland and Warren, Michigan are set to go dark in 2019, as well as two unnamed international plants.
CONTINUE READING: Trump’s hidden agenda: Emperor Caracalla
Many Americans will starve to death. And the American government won’t do anything to help. Buildings, like the economy will be in collapse. Nationwide shortages of food at runaway inflation prices will become the norm.
With an economy in freefall, and food prices skyrocketing, many Americans will eat less and less every day. Children will suffer the most, and severe malnutrition will rise at an alarming rate.
With triple-digit inflation driving up prices, few will be able to afford to pay for even the most basic goods. We will find that U.S. interest rates simply cannot go up enough to stop inflation.
Hyperinflation will largely destroy the economy’s capacity to produce real goods.
Super markets will be stripped bare. Civil riots will break out over the lack of food! People will begin to know the aching, clawing sensation of true hunger. And it will happen across America and the nations of the world very soon.
Remember, the markets always surge before the crash. We’ve had the surge, so we know what comes next.
The entire western civilization and their governments are completely broke. What part of this do you not understand?
We can barely afford the debt service now at practically 0%, so just how exactly are people and the governments going to afford two, four or nine times the payments???
Debt brings consumption from the future into the present, and so it increases short-term economic activity at the expense of long-term financial health.
The only reason why we have even gotten this far is because interest rates have been pushed to historically low levels. If the average rate of interest on U.S. government debt even returned to the long-term average, we would be paying more than a trillion dollars a year in interest on the national debt and the game would be over.
Our financial system is based on a pyramid of debt, and we have allowed Wall Street to operate like a giant casino. Our entire economy has essentially become a colossal Ponzi scheme.
And the politicians never examine the costs to the public or the benefits to the public of financial reform. That is never part of the discussion.
In the last depression those who had money were in a good financial position to ride it out but the next depression will see those with fiat money drowning in it as it becomes worthless.
Very few Americans have any significant savings today. Most live on credit and those with savings have it stored in financial instruments that will be wiped out as the bankers collapse the system to hide the theft they have been involved in for decades. Those who think they will retire with their IRA, pensions or social security will suddenly find them all gone never to return leaving them with no means to care for themselves.
Last month more than 100 executives from the world’s largest financial institutions met privately at the Times Square office of Nasdaq Inc. to discuss the future of money; more specifically a software apparatus called “Blockchain.” The goal is to implement Blockchain as a medium to fully digitize monetary transactions around the world and in a way that is traceable and foolproof. In other words, the goal is put an end to all transactions involving physical cash.
Corrupt government is the tool by which globalists can extort goods and labor from a population as well as exert force to subdue rebellion. It is highly unlikely that the global reset will result in a collapse of government. On the contrary, it is usually during economic collapse that governments grow in power to the point of totalitarianism.
I would never have dreamed that I would be preaching a sermon series on “The Coming Fourth Reich,” teaching on the similarities between Hitler and our modern day existence…but here I am waving a red flag and saying as boldly as I know how…GET READY! Don’t sit by and wait for someone else to do something! Don’t wait for your rights to be completely stripped. Stand up! Speak up!
Think that sounds impossible?
The fact of the matter is that all of this has been orchestrated. Our present state of affairs amounts to little more than political theatre. The common metaphor of politicians being puppets is apt. The ones pulling the strings behind the scenes are the same who own and control central banks. The chairman of the Fed, in a sense, is also a puppet, for he does not own the bank he oversees. He’s simply a sort of executive – a face to the world who appears to make important decisions. The POTUS assumes a similar role.
As economies and ecologies continue to collapse, the world will be dragged into war as a result. The pieces for this horrific play have already been set in motion. It is only a matter of time before financial crisis grips the globe, famine spreads like wildfire, and ever-larger conflicts ensue.
The result will be a world war that will, as planned, become a full-scale nuclear assault.
China has officially announced that its new currency, the Petro-Yuan, will be available this year. This will lead to the US dollar losing reserve currency status and ultimately failing as a currency. The resulting chaos will have only one solution – war.
The American economy is paralyzed. With long-fraying alliances at an end and fiscal pressures mounting, U.S. military forces are seen as the only hope and so the populist president will launch world war three.
I have been writing about this over and over because I both want people to take notice and want to have it on the record so that when it all comes down, it can be easily understood what the real causes were. Make no mistake – the mechanisms underlying this imminent financial failure will be obscured. For evidence of this, just look to the lack of press coverage this Petro-Yuan event has received in the Western mainstream media.
American and European media had us distracted with scandal after scandal. Meanwhile, the entire empire has had its support pillars undermined and the final nail placed in its coffin due to a viable alternative to the US dollar backed by a regional superpower now existing. Most people living in first-world nations haven’t the slightest clue that any of this is happening and don’t perceive that war is on the horizon as a result.
This will allow those in power to pin the failure on any manufactured event they choose.
I have spent two years making a documentary film, The Coming War on China, in which the evidence and witnesses warn that nuclear war is no longer a shadow, but a contingency. The greatest build-up of American-led military forces since the Second World War is well under way, in the northern hemisphere, on the western borders of Russia and in Asia and the Pacific, confronting China.
Almost two-thirds of US naval forces have been transferred to Asia and the Pacific.
The US has also encircled China with 400 military bases armed with bombers, warships and missiles capable of delivering nuclear weapons.
These bases extend all the way from Australia to the Pacific islands, through Asia to Korea and Japan and across Eurasia to Afghanistan.
The island of Okinawa is an “aircraft carrier” of US military bases, their bombers aimed at China less than 500 miles away.
A mini nuclear war is being planned
A study by think tank the RAND Corporation – which, since Vietnam, has planned America’s wars – is entitled, War with China: Thinking Through the Unthinkable.
Commissioned by the US Army, the authors evoke the Cold War when RAND made notorious the catch cry of its chief strategist, Herman Kahn – “thinking the unthinkable”. Kahn’s book, On Thermonuclear War, elaborated a plan for a “winnable” nuclear war.
According to Amitai Etzioni, professor of international Affairs at George Washington University, “the United States is preparing for a war with China, a momentous decision that so far has failed to receive a thorough review from elected officials, namely the White House and Congress.”
However, “for the first time,” wrote Gregory Kulacki of non-profit organisation the Union of Concerned Scientists, “China is discussing putting its nuclear missiles on high alert so that they can be launched quickly on warning of an attack …
Less than five minutes. This is the approximate time that would elapse from President Trump’s decision to launch a nuclear strike against China to shooting intercontinental ballistic missiles out of their silos, according to Bloomberg estimations. The publication, citing former Minuteman missile-launch officer Bruce G. Blair, also estimates that it would take about 15 minutes to fire submarine missiles from their tubes.
China’s President Xi Jinping has ordered the military region responsible for monitoring the South China Sea and Taiwan to pay a special attention to the current situation in the region and boost its capabilities so it can handle any emergency.
“It’s necessary to strengthen the mission … and concentrate preparations for fighting a war,” Xi said during an inspection tour made on October 25 as part of his visit to Guangdong province, according to state broadcaster CCTV. “We need to take all complex situations into consideration and make emergency plans accordingly.”
Hitler’s attacks on the German press
“Lügenpresse” is a Nazified word from 1914 when it was used by German author Reinhold Anton to refer to foreign propaganda.
The German Defense Ministry even used the word in a book title in 1918, “The Lügenpresse of Our Enemies.”
The Führer turned it around to include anyone in the German press who disagreed with him – at least until he had made the German press entirely state-controlled.
Hitler liked to talk a lot about the “will of the people” which was, of course, in the German dictator’s view, strictly behind him and him alone.
In 1922 Hitler was using Lügenpresse to refer to the Marxist press, as in the “Marxist Lügenpresse,” a formulation repeated by the Nazi-controlled paper the Volkischer Beobachter in 1932.
No surprise since Adolf Hitler personally owned the paper, which fancied itself the “fighting paper of the National Socialist movement of Greater Germany.”
When Hitler was put on the spot as a witness in a trial of his murdering SA thugs in 1931, he could only lie and sputter angrily.
Hitler had lost no time in abolishing the Reich Presidency and having the army swear a personal oath of unconditional obedience to him as “the Führer of the German Reich and People.”
The ceaseless efforts of propaganda, which had been consciously directed to creating and building up the “heroic” image of Hitler as a towering genius, to the extent that Joseph Goebbels could in 1941 with some justification claim the creation of the Führer Myth to have been his greatest propaganda achievement.
Restoration of order, rebuilding the economy, removal of the scourge of unemployment, demolition of the restrictions of the hated Versailles Treaty, and the establishment of national unity all had wide popular resonance, ranging far beyond die-hard Nazis, appealing in fact in different ways to practically every sector of society.
It was a manufactured consensus, a propaganda construct, with repression of political opponents, “racial enemies” and other outsiders to the proclaimed “national community” as the other side of the coin. The “superman” image of Hitler amounted to the central component of the fabrication. Already before the “takeover of power” it had been the creation of the most modern, hugely successful, political “marketing” strategy of its time, masterminded by Goebbels. And once the monopoly of state control of propaganda fell into Nazi hands in 1933, there was no obstacle in the mass media to the rapid spread of Hitler’s “charismatic” appeal.
Given the failure of Weimar democracy and the crisis conditions in which the Hitler government came to power, it was clear that if the new Reich Chancellor could swiftly attain some successes, he would substantially increase his popularity. The scope for the rapid widening of the adulation of Hitler, the winning of “the majority of the majority” who had not voted for him in March 1933 had been laid. The speed with which the Hitler cult now spread has to be seen from this background, as well as from the masterly deployment of propaganda imagery.
There was a widespread feeling that finally a government was doing something to get Germany back on her feet. Propaganda portrayed the economic upturn as Hitler’s own achievement. He readily accepted the acclaim, and most people thought it was warranted.
It was the first major step towards winning over those who had not supported him in 1933. In 1936, Willi Brandt, admitted much the same: that providing work had won the regime support even among those who had once voted for the Left.
Hitler unquestionably won much support through what was taken to be the restoration of “order” at home. Nazi propaganda had been influential in the last, crisis-ridden years of the Weimar Republic, in instilling in much of the population an exaggerated image of criminality, decadence, social disorder and violence (much of which the Nazis themselves had instigated).
Though Hitler’s anti-Semitic paranoia was not shared by the vast bulk of the population, it plainly did not weigh heavily enough in the scales on the negative side to outweigh the positive attributes that the majority saw in him.
More important still, Hitler’s popularity made him untouchable for those groupings within the national-conservative power-elite.
Some of the most iconic photos of Adolf Hitler show him at his most intense, eyes alight with frenetic energy as he addresses an audience or salutes a crowd.
Equally haunting, however, are another set of images that are oft-forgotten: In the years preceding World War II, news outlets from home magazines to the New York Times ran profiles of the Nazi leader that portrayed him as a country gentleman — a man who ate vegetarian, played catch with his dogs and took post-meal strolls outside his mountain estate.
These articles were often admiring — even after the horrors of the Nazi regime had begun to reveal themselves, says Despina Stratigakos, an architectural historian at the University at Buffalo.
On Aug. 20, 1939, the New York Times Magazine published an article describing the day-to-day life at Hitler’s mountain chalet.
This was 12 days before Germany invaded Poland and started World War II, nine months after the violent anti-Jewish pogroms of Kristallnacht, and six years after the first Nazi concentration camp opened at Dachau.
The article commented that Hitler’s estate on the Obersalzberg, a mountain retreat near the Austrian border, was “furnished harmoniously, according to the best of German traditions.” Unstained wainscoting and handwoven rugs combined to “create an atmosphere of quiet cheerfulness” in the Führer’s study, the New York Times reported.
Hitler had a tomato garden and a fondness for chocolate, the story said. He was a man “who can eat a gooseberry pie or a well-done pudding with relish.” He liked to take an afternoon nap.
A 1938 profile in Homes and Gardens, a British magazine, was similarly descriptive. The piece, a three-page feature on the same estate, related that the home was “bright” and “airy,” with a jade green color scheme. It noted that Hitler “had a passion for cut flowers,” and considered his gardeners, chauffeur and air-pilot not as servants, but as “loyal friends.”
“All kinds of publications — from serious political journals to LIFE and even American Kennel Gazette, a dog magazine — were covering this story about the ‘real’ Hitler,” Stratigakos said. “In 1934, the German Press Association reported that images of Hitler at home playing with his dogs or with children were the most popular images purchased by the media in Germany and abroad.”
In the wartime years, as seemingly glorious victory gave way to mounting, inexorable calamity, as defeat on defeat inevitably eroded the charismatic basis of his leadership, and as it became plain that he was leading Germany into the abyss, the fateful bonds with Hitler that had been sealed in the “good years” of the 1930s ensured that there was now no way back. The German people, having supported Hitler’s triumphs, were now condemned to suffer the catastrophe into which he had led them.
REALITY VS FICTION
If the government went out today and grabbed every single dollar in existence we could not pay back the national debt, and of course we have trillions of dollars of household debt, trillions of dollars of corporate debt and trillions of dollars of state and local government debt that we need to pay back as well.
Under the current system our only hope is to keep the wheel spinning by continuing to devalue the dollar and by continuing to go into even greater amounts of debt.
The Federal Reserve and the president are driving the United States toward economic ruin. When the U.S. economic collapse occurs, it will happen quickly. Get prepared now.
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UPDATE: Those that own very few assets free and clear will become the new homeless as they become jobless and default on all of their credit obligations. All of the social safety nets that exist now to keep people fat and happy will fail leaving mobs of people to roam the streets to seek out what they need to survive. One only has to look at Venezuela today to see where this will all lead.
Understanding what will likely happen and insuring you have a plan to deal with it is the only hope you will have of coming through the coming bad years in tact. Those who trust in government or only live for today will reap what they sow and it will be unpleasant at best if they survive at all. A simple strategy to insure you do not suffer does not have to be expensive or complicated. The best plans are simple and allow you to adapt to the changing times.
When the next great depression hits it will be unlike anything we have lived through before. Nothing will be as it seems and only those that have the resources to adapt will come through it whole. Preparation is the key to adapting to future events and those without resources will reap a bitter harvest as they struggle to survive. No announcements will be made, no warnings will be given by the establishment, it will just suddenly happen out of the blue and everyone will say it was unpredictable. But those who prepared will know better.
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