-- Published: Wednesday, 16 March 2016 | Print | Disqus
By: Nathan McDonald
Global uncertainty abounds. Conflicts, depressions, crashing stock markets. This is all part of our everyday financial life, but yet the world keeps on ticking.
The banking elite have kept things together through unprecedented money printing, through shady accounting, and through sending the West deeper and deeper into debt.
Unfortunately, the crashing of oil prices was no blessing at all, but it has simply highlighted the fact that the world is terminally ill and is due for a major collapse. It has decimated whole economies, such as parts of the Unites States, Russia, and Canada that rely heavily on the commodity for survival.
We survived the 2008 crisis, although not entirely for the better. Many have to now work two jobs instead of one to maintain the same quality of living. People are being worked to the bone, just to stay afloat.
The middle class was hollowed out in the last crisis, and many survived simply from savings and are now facing a bleak and depressing retirement, if they are even able to retire at all.
The question is, what happens during the next great downturn? We can see it on the horizon and if you aren't scared of the outcome, then you are either incredibly brave, or incredibly foolish, as the landscape of the Western World will never be the same.
Gerald Celente, one of the top trend forecasters in the world, and who accurately predicted the collapse of 2008 well in advance of it occurring, is once again sounding the alarm, along with many in the precious metals community. In a recent interview, he had the following to say:
51% of the people in the United States that are employed are earning under $30,000 a year… Less than half the population is considered middle-class in America… the gap between the rich and the poor is as bad as it was at the worst times of the Gilded Age going back over a hundred years.
So, what happens when the Panic of 2016 happens?
The Panic of ’08 helped wipe out the middle class… this is going to eliminate it to a large degree, because they’re deep in debt.
Delving deeper into our current precarious situation, Celente goes on to highlight how the Central Banksters are now out of ammunition, and the solutions used in 2008 are no longer available to them:
Now, what this is going to do… it’s going to knock out the top… and the top survived the other crash because the top are the ones that are totally leveraged out… there’s no more savings anymore… there’s no more savings anymore… it’s only markets because of zero interest rate policy.
The markets have been artificially juiced up… so when this thing comes down it takes the top down… the last time it pulled out the bottom… so this is going to be a top-down crash.
And there’s not going to be anything to pump it back up because they’ve blown all their ammunition.
The next crisis is coming, whether people want to believe it or not. More and more people are waking up to this realization and can now see the writing on the wall. Economic indicators are poor, and nothing has been truly resolved from our last crisis. The chickens are coming home to roost and it's not going to be pretty.
The best we can do is prepare for the worst and hope for the best. The question is, are you prepared?
Nathan McDonald is a libertarian, entrepreneur and precious metals enthusiast. He has always taken a keen interest in free markets and economics since an early age, which naturally led him to become a true believer in precious metals and all that they stand for.
Nathan served eight years in the Royal Canadian Navy as an electronics technician, seeing the true state of the world, before starting his first successful business. He has since gone on to create a number of businesses, all of which are still in operation and growing.
In addition to this, Nathan runs a network of successful precious metals blogs, and a growing newsletter that has attracted readers from all around the world.
He is a regular and highlighted writer for the highly respected Sprott Money Blog, which covers world events, geopolitics and of course precious metals.
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-- Published: Wednesday, 16 March 2016 | E-Mail | Print | Source: GoldSeek.com