‘Another month, another bad
jobs report. For the month of May, the
At the moment, 53 percent of all Americans with a bachelor's degree under the age of 25 are either unemployed or underemployed, and there are more than 100 million working age Americans that do not currently have jobs.
But this is only just the beginning.
the next major economic downturn, the unemployment rate in the
Many Americans will look back on 2010, 2011 and 2012 as "the good old days".
Right now, there are only small pockets of the country that are total economic hellholes.
In the future, those kinds of numbers are going to become the norm all over the nation.
Sadly, most Americans have no idea what is coming.
Today, I wanted to share with you all a couple of chilling economic forecasts that I have been made aware of recently.
first is from Raoul Pal. According to Zero Hedge,
Raoul Pal "previously co-managed the GLG Global
Macro Fund in
The following is from a Zero Hedge summary of a recent presentation by Raoul Pal....
We don’t know exactly what is to come, but we can all join the very few dots from where we are now, to the collapse of the first major bank…
With very limited room for government bailouts, we can very easily join the next dots from the first bank closure to the collapse of the whole European banking system, and then to the bankruptcy of the governments themselves.
There are almost no brakes in the system to stop this, and almost no one realises the seriousness of the situation.
The problem is not Government debt per se. The real problem is that the $70 trillion in G10 debt is the collateral for $700 trillion in derivatives…
Yes, that equates to 1200% of Global GDP and it rests on very, very weak foundations
From an EU crisis, we only have to join one dot for a
And then do you think
And then do you think the
That is the end of the fractional reserve banking system and of fiat money.
It is the big RESET.
Bonds will be stuck at 1% in the
The whole bond market will be dead.
Short selling on bonds - banned
Short selling stocks – banned
CDS – banned
Short futures – banned
Put options – banned
All that is left is the Dollar and Gold
It only gets better. We use the term loosely:
We have around 6 months left of trading in Western markets to protect ourselves or make enough money to offset future losses.
Spend your time looking at the risks of custody, safekeeping, counterparty etc. Assume that no one and nothing is safe.
After that…we put on our tin helmets and hide until the new system emerges
So how soon does Raoul Pal think all of this is going to happen?....
From a timing perspective, I think 2012 and 2013 will usher in the end.
You can find his entire presentation entitled "The End Game" right here.
What Raoul Pal is saying lines up very well with what Steve Quayle's anonymous international banking source is telling him....
is no stopping this...We are still on track as I have been predicting for a
while now for a fall/winter collapse of the Eurozone
and naked exposure of all derivative markets the world over. Europeans will go
through a major reset, after time they will recover as Europeans do not carry
the type of personal debt that Americans do. It is for
1- JPM will be bailed out again but it will not stop the coming market crash. More details will emerge about their derivative swap failure $150 billion and counting.
(BAC Bank of
3- Massive layoffs at Citigroup and Wells Fargo
4- Goldman Sachs finally pays the piper, look for massive cuts there as well as BIG Losses
5- Bond market bust which leads to freeze of all bond sales
6- Derivative bust the next one will be BOA followed by Citigroup
7- All CDS shorts and swaps will freeze.
8- Total Meltdown
You can read the rest of what that source is saying right here.
As I have been saying all along, there are two keys that you need to be watching right now....
the articles that I write about Europe tend to get far less of a response than
my other articles get. Most Americans simply do not understand that what
is happening in
And most Americans have very little understanding of derivatives. But as you just read, there are some in the financial community that are warning that we could see the derivatives bubble burst very soon.
Time is running out. This period of relative stability that we are currently experiencing will not last forever.
You better get ready.’