Krakk i verdensøkonomien 2

Lagret under: 1 on november 23, 2007 at 6:37 pm

“Now, the dollar is falling, deadbeat nations are stiffing the IMF, U.S. dependency on imports is at record levels and growing, U.S. debt is soaring, U.S. production is sinking, and U.S. willingness to see its industrial base vanish is disappearing. Yes, a crisis impends. Just don’t hold me to the date.”

“The Global Economy is headed for the rocks.”

-Patrick Buchanan, januar 2003

“The demise of the dollar will mean the end of floating fiat currencies. And it will also mean the demise of the present credit banking system built around it.”

-Hans Schicht, februar 2003

“Perhaps the greatest deflation and depression of all time,” he says, “Following the greatest speculative boom in stocks of all time.”

-Michael O’Higgins, mars 2003

“So far, policy makers and Wall Street have been very successful in deluding the public into the belief that the U.S. economy has no serious problems. The popular media largely determines investor outlook — and they mostly report the familiar illusions and delusions that the economists and the analysts of the financial community produce in abundance.
But this is grossly misplaced confidence. While confidence is important, we should distinguish between reasonable and unreasonable confidence.”

“A serious recession, collapse in the stock market and a fall in the dollar are inevitable. And investors must be prepared or they are going to get seriously hurt.”

-Dr. Kurt Richebächer, mars 2003

“We are standing right in front of a mess so terrible I have waited to explain to you what it was exactly. It is as Warren Buffet warned: those damn derivatives that were invented in a math class and sold to a professional public (and indirectly to every one of you depending on the value of your home) to survive. You will not survive without gold.”

-Warren Pollack, april 2003

“We used to hear that a company was too big to fail. The government or the Fed would have to intervene and save it, what Greenspan calls a moral hazard – a forced loan. What if the entity is too big to bail out? The size of the American mortgage markets is huge. It is larger than Congress imagines.”

-Gary North, 2003

“I have been a student of monetary science for almost fifty years and I am greatly disturbed by the explosive and malignant growth of bond speculation which I attribute directly to the inept monetary policy of the Federal Reserve.”

-Antal E. Fekete, juni 2003 i åpent brev til kongressmann dr. Ron Paul med tittelen: Stop Greenspan From Plunging America into a Depression

“Gold will take on a dynamic that centuries, even millennia of “monetary use” have not allowed it to assume. Gold will become the number one wealth asset of the very rich and powerful. (Wanna bet that all of the really rich and powerful are already stocked up on physical gold as you read this – all the while telling you and your compatriots through the approved media outlets that gold is “risky” and should not be relied upon too heavily as an investment?)”

-Alex Wallenwein, mai 2003

“But in the long run, all things will, I am sorry to say, go up in price. This is the good news. The bad news is that the long run always starts right now. The worst news is that the annual price rises will soon start getting bigger and bigger and bigger in some weird exponential fashion.”

-Richard Daughty, juni 2003

”Read the very last paragraph again: “The IMF sees U.S. GDP growth accelerating to 3.6 percent in 2004 due to “unprecedented” monetary and fiscal policy stimulus, adding that growth may be even stronger than predicted.”

“This is truly breathtaking. It is an admission – by the world’s foremost monetary authority – that our much-vaunted current US economic “recovery” is nothing more than the product of Alan Greenspan gearing up his paper-factory called “the Fed.”
It is telling (informed) investors the world over that the US “recovery” is bound to fail! It is telling investors the world over to bail out of US paper assets. And this is coming from a formerly US controlled world-entity. Can you fathom the significance of this?
What does it mean? It can only mean two things: either the US administration wants the dollar to collapse (yeah, right!), or the administration is not in control of those (even in the US) who make world monetary policy. We already know that the US administration no longer has any sway over the euro-nations as far as ensuring dollar-support goes. But now we may begin to witness the breakup of dollar-support even within US circles.”

-Alex Wallenwein, september 2003

“Americans believe their favorite and most reliable assets, their homes, are making them rich. But could the contrary be true? Will they be trading down soon…from their split foyers, neo-colonials and desert contemporaries directly to the poorhouse?”

-Bill Bonner, oktober 2003

“What is important for us in 2003, is that the gold price is either going to increase to $700 an ounce, or more; or the US money supply has to decrease by 50%. This is not the same as saying that the inflation rate has to decline by 50% – this is saying that we need a 50% decrease in the amount of dollars outstanding, which is a practical impossibility. Therefore, the only conclusion is that the gold price is going up.
Buying gold now is the lowest risk investment you can make. And the upside is a once-in-a-lifetime opportunity.”

-Paul van Eeden, desember 2003

“The central bankers’ battle with the speculators over gold is not substantially different. Speculators have been playing cat and mouse with the central bankers, the role of the mouse being assigned to the latter. After each highly publicized gold auction (whether by the U.S. Treasury, the IMF or, more recently, by the Bag Lady of Threadneedle Street otherwise known as Me-Too Bank of England) the central bankers have become the laughing stock of the world. The speculators have allowed the gold price to come down nicely to accommodate the central banker wanting to unload. But no sooner had the last bar been sold than speculators bid up the gold price to ever higher levels in order to allow their newly acquired wealth to shine.”

- Antal E. Fekete, desember 2003

“I remain convinced that the present ’strong’ recovery phase in the US economy won’t last for long, as it is totally artificial.

There are simply too many imbalances in the system, as reflected by a record low national saving rate, record household debts, and record trade and current account deficits, for this recovery to lead to sustainable strong growth that would justify the present stock valuations.”

-Dr. Marc Faber, januar 2004

Dette sier de i 2007:

The Financial Destruction of America’s Middle Class
“You will not find that headline anywhere today. Why? Because it isn’t there. It is a headline from the future.”

-Bill Bonner, januar 2007

” “The US needs a trillion dollars a year just to stand still,” says David Bloom, currency guru at HSBC. Modern financial crises have always begun on the peripheries of global economy, setting off a chain reaction. Mr Bloom says the seizure this time will be at the heart of the system as the dollar buckles, pressing down on the “aorta of capitalism”.

So we have a world where the ageing economies of Europe and Japan are too fragile to withstand a dollar slide, yet America needs a weak dollar to cushion its own downturn. Meanwhile, China is holding its currency far below equilibrium. Nobody is doing much to break this impasse. The 1930s come to mind.”

-Ambrose Evans-Pritchard, januar 2007

” Between reps and warranties and widening mortgage credit spreads, most subprime lenders will end up closing down or heading to Federal Bankruptcy Court. Indeed, even mortgage firms with limited exposure to subprime loans could fail. Even if a mortgage company survives, it will now have to dramatically raise interest rates to borrowers and put in place sound loan underwriting.”

-Richard Benson, februar 2007

” Two analysts who have reconstructed money supply data after the Fed stopped publishing it argue a coming dollar collapse will set the stage for creating the amero as a North American currency to replace the dollar.”

-Jerome R. Corsi, februar 2007

” Remember, it’s all relative. Gold has performed well, but only in the last few years. Our guess is that it will perform spectacularly well when this liquidity bubble finally pops – and reaction turns to overreaction.”

-Bill Bonner, februar 2007

“The United States of America and its citizenry has been assessed, warned, plotted against, and sold out by internationalists in government, business, and the banking industry. Its workforce has been decimated, its standard of living shredded and its working people made financial slaves through unjust taxation, socialist government practices, rules and regulations at all levels in society that would make any communist dictator grin with envy.”

-Greg Evensen, februar 2007

” David Walker, Comptroller General at the Government Accountability Office, appeared on the show “60 Minutes” last evening to discuss the federal budget outlook. If you saw the show, you know that he painted a very sobering picture regarding the federal government’s ability to meet its future obligations.
If you didn’t see the show, Mr. Walker’s theme was simple: government entitlement spending is like a runaway freight train headed straight at American taxpayers. He singled out the Medicare prescription drug bill, passed by Congress at the end of 2003, as “probably the most fiscally irresponsible piece of legislation since the 1960s.”

-Dr. Ron Paul, presidentkandidat 2008, mars 2007

” As our phony economy begins to unravel before our eyes, it is amazing how few people can actually see it. The collective wisdom of stock market pundits, economists, and Federal Reserve officials gives the impression that everything is just fine. Although some acknowledge that housing is slowing down a bit, that there are isolated problems with subprime mortgages, and that inflation is not moderating as quickly as they hoped it would (let’s ignore surging oil prices), few can see any grave threats to continued economic expansion, or the bull market in stocks, bonds or real estate.”

-Peter Schiff, mars 2007

” However, as I have been writing for years, the biggest losers in the real estate bubble will not be the borrowers who took advantage of easy credit, but the lenders who foolishly underwrote the loans. Whether they be unsophisticated clients of small brokerage firms like Brookstreet, or big time hedge fund clients of Bear Stearns, anyone who owns subprime mortgages is going to lose money. Some will lose 100% of what they invested, and those who used margin may lose even more.”

-Peter Schiff, juni 2007

” Like rats on a sinking ship the banks, investment bankers and brokerage houses are scrambling, trying to save a rotten financial structure inhabited by a gang of thieves. The firestorm has begun. It is being delayed at every possible juncture, but it will be to no avail. The elitists are in denial. They do not want the system to collapse, not just yet. Their plans for world government have been derailed by what is the train wreck in the Middle East. As Zbig has said the road to the new world order has been delayed by 25 to 30 years. The problem is what they have put in motion cannot be stopped. The curtailment of credit and risk and the contagion has begun and it will have to be played out to its finish. During this process the media and the propaganda organs of government, Wall Street and corporate America are spewing out disinformation and misdirection.”

- Bob Chapman, juli 2007

“As noted in the last newsletter, the fundamentals underlying the U.S. currency remain extraordinarily negative. While general movement against the dollar has begun, heavy dollar selling has not hit, yet. The timing of the ultimate move against the greenback remains uncertain, but the crisis likely will come sooner (next several months), rather than later, with little or no warning.”

- John Williams, juli 2007

“Do alligators bite? Of course, they lie all the time. Some things were sacred and they didn’t lie about them. The M3 data that shows how much money the Fed prints as well as how much is in circulation, etc, just last year, they announced, ‘No one is really interested in these numbers and they are too hard to compile.’ Like a drunken, gambling spouse declaring there is no need to balance the check books or look into the bank accounts, so it is here. Many people yelled about the M3 numbers being suppressed but to no avail, of course.
Onwards! Since they are lying about basic bank accounting, they have to lie about everything else or people will figure out, something smells rotten in Denmark, DC.
They redrew the rules for figuring out inflation so it no longer tracks inflation. This is so they can cheat retirees and have fake interest rates and thus, steal from granny and gramps and starve school children while lining their own pockets.”

- Elaine Supkis, august 2007

“The near-failure of the German Sachsen LB bank, which had to be saved from bankruptcy with 17.3 billion euros in credit, revealed that European banks hold over half-trillion dollars in so-called asset backed commercial paper, much of it in the U. S. and subprime mortgages. A failure in America caused Europe too to face a crisis. The problem is scarcely isolated.”

- Gabriel Kolko, september 2007

“According to Michael Panzner, the US is less than two years away from “financial Armageddon.” When the stock market bubble burst in March 2000, the collapse that followed wiped out over two-thirds of the value of the technology-laden Nasdaq Index and decimated the hopes and dreams of millions of Americans. Now, imagine not one, but four such disasters looming on the horizon. Four key elements–Debt, Derivatives, Government Guarantees, and the Retirement system–are quickly unraveling, and because they are so intricately connected, there will be an unremitting domino effect.”


“A leading economic expert has warned that a global crash and recession is imminent on the back of record highs in real estate, stocks and energy, combined with a devaluation of the dollar and continued “speculative bubble thinking”.

Robert Shiller, the Stanley B. Resor Professor of Economics at Yale University told an audience at the annual Dubai International Financial Centre (DIFC) Week that a sharp downward correction is due in the global markets.

Shiller stated:
“Perhaps we have gotten a little too confident in the global economic growth,” said Shiller. “The problem is high oil, stock and real estate prices. I believe that a substantial part is speculative bubble thinking. We have gotten too confident of the prices in these markets,”.
“The unwinding of these markets is the most serious risk facing these markets today,” Shiller added.

-November 2007

“When the dollar ceases to be the reserve currency, foreigners will cease to finance the US trade and budget deficits, and the American Empire along with its wars will disappear overnight. Perhaps Bush will be able to get a World Bank loan, or maybe one from the “Chavez bank,” to bring the troops home from Iraq and Afghanistan.”

-Paul Craig Roberts, november 2007

“All over the world people are saying the same thing: official inflation figures lie. And all over the world, they’re probably right. Consumer prices are going up. Yesterday brought reports from Hong Kong and Russia, both of whom announced higher inflation rates. And in the United States, Merrill Lynch reported that the cost of Thanksgiving had risen nearly 8% – or more than twice the official inflation rate – from the year before.”

-Bill Bonner, november 2007

“Citi has $134 billion in CDO and ABS’s primarily backed by subprime toxic waste. They have $25 billion in commercial paper backed by toxic garbage. It should be noted Citi is watching a disintegrating housing market, which will depreciate these values further. Once they figure in the leverage you will find Citi is bankrupt. We expect the Fed will print the money and create credit to bail Citi out, and they will bail out all the biggies.”

- Bob Chapman, november 2007

21. november 2007

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