By Susan Duclos – All News PipeLine
When the Hell Stream Media starts interviewing and quoting financial experts that have been ignored and mocked in the past in order to warn the public of how close to the edge of the abyss the national and global economy is, then it is clear the end is near.
CNN interviewed American businessman, investor and author Jim Rogers, who has been predicting the financial collapse we are witnessing now, for years, but has been largely ignored by major media outlets, and Rogers hits hard at the core of the economic disaster that awaits not only America but the global economy as a whole when he states outright that “We’re all going to pay a horrible price for the incompetence of these central bankers.”
Referring to the Central bankers as “academics and bureaucrats who don’t have a clue what they’re doing,” Rogers informs us that “This is going to be a disaster in the end,” and “You should be very worried and you should be prepared.”
“It’s been over seven years since we’ve had a decent correction in the American stock market. That’s not normal … Markets are supposed to correct. We’re supposed to have economic slowdowns. That’s the way the world has always worked. But these guys think they’re smarter than the market. They’re not.”
Rogers is not the only finanical expert taking central bankers to task for their incompetence and their role in creating conditions for the worst financial crisis in history as we see that Egon von Greyerz, Founder of Matterhorn Asset Management describes the powers given to the Fed to King World News as “giving weapons of mass destruction to a bunch of kids.”
We are informed by Zero Hedge that the “total retirement assets in the Land of the Free now exceed $23 trillion,” as they explain why “The Government Will “Borrow” Your Retirement Savings,” in a must read piece which explains that it is time to take everything but what you need for immediate bills, out of the bank, now!
This isn’t about fear or paranoia. It’s about facts.
And the reality is that the government in the Land of the Free is moving in the direction of borrowing more and more of your retirement savings.
If you still remain skeptical, remember that last year the government stole more from its citizens through Civil Asset Forfeiture than thieves in the private sector.
Or that just 45-days ago a new law went into effect authorizing the government to strip you of your passport if they believe in their sole discretion that you owe them too much tax.
We have been warned by countless financial experts, analysts, trends forecasters and industry insiders and the final play will be bank “bail-ins” as was explained by Ellen Brown in a January interview with Greg Hunter from Watchdog USA:
Brown warns that people are more at risk in the U.S. to lose their savings because the five biggest banks have nearly $250 trillion in derivatives. In a financial calamity that could cause mass bankruptcies, recent legislation says the derivative holders will be paid first. Brown explains, “They have super priority over everything. . . . All the creditors’ money will be taken in a bail-in. A bail-in is the opposite of a bankruptcy. In a bankruptcy, the bank is liquidated in order to pay off the creditors. In a bail-in, the creditors’ money is taken in order to keep the bank alive. So, we get to die while the bank lives instead of the reverse. They specifically say ‘creditors’ which means shareholders and bond holders, but what most people don’t realize is depositors are also considered creditors. When you put your money in a bank, it becomes the property of the bank, and all you have is an IOU.”
We are no longer speaking of only “Alternative Media” speaking of the upcoming “recession” but major news outlets like Forbes,Reuters, CBS News, CNBC, USA Today, Seattle Times, Washington Times, New York Times, and many others are now addressing the “possibility” of recession, meaning it can no longer be waved away as a “conspiracy theory” but is a reality that can no longer be ignored.
Prepare now because when it hits, it will hit fast and hard and the U.S. will look a lot like Venzuela does now.