The European Central Bank (ECB) left its stimulus programs and record low interest rates unchanged. Pundits were seeing some cyclical signs of what they hoped was a spreading recovery in the 19 countries that use the euro currency rather than just a bounce in anticipation of tourist season. The ECB dropped any wording that it could lower interest rates further, which is a claimed sign of greater confidence in the economy, but in reality, is more of a reflection of it being trapped in desperate nightmarish measures.
This year, 2017, is the beginning of the Sovereign Debt Crisis. While Greece is popping up on the financial radar, the Euro rescue in Portugal has also completely failed to reverse the trend of the country. There has been no effective relief from the debt crisis in Southern Europe. The debt in Portugal is also once again as high as before the crisis of 2010. The 78 billion euros of the European taxpayers money did nothing to reverse the economic trend, but in fact the funds simply went to save the banks.
* * *
The 1st of October came and went without financial armageddon. Veteran forecaster Martin Armstrong, who accurately predicted the 1987 crash, used the same model to suggest that 1 October would be a major turning point for global markets. Some investors even put bets on it. But the passing of the predicted global crash is only good news to a point. Many indicators in global finance are pointing downwards – and some even think the crash has begun.
Let’s assemble the evidence. First, the unsustainable debt. Since 2007, the pile of debt in the world has grown by $57tn (£37tn). That’s a compound annual growth rate of 5.3%, significantly beating GDP. Debts have doubled in the so-called emerging markets, while rising by just over a third in the developed world.
The Federal Reserve yielded to international pressure making the very same mistake that it made during 1927.
Back then, there was a secret meeting and the Fed agreed to lower US rates to try to help Europe and thereby deflect capital inflows back to Europe.
The exact opposite unfolded in the aftermath and even more money abandoned Europe and flowed directly into the US share market.
From the article:
“I have a ton of respect for Lindsey Williams, and I would listen to what he has to say very carefully. Back in 2008, an elite insider told him that the price of oil would drop from $140 a barrel to $40 a barrel, and it happened. This time around, Williams has been telling us throughout 2013 and 2014 that a global financial collapse was not going to happen during those years, and he was right about that.”
Lindsey Williams also made a lot of predictions that turned out to be dead wrong and he just wants to sell his DVDs, which is why when he gets interviewed he is beating around the bush, telling you that you need to buy his DVDs.
That said, there is a lot of evidence pointing to the fall of 2015 (in Sept.).
I can precisely tell you when it will happen and that is when Lord Rothschild …
… will press this button:
– Lindsey Williams, Martin Armstrong And Alex Jones All Warn About What Is Coming In The Fall Of 2015 (Economic Collapse, June 21, 2015):
Not since the financial crash of 2008 have so many prominent people issued such urgent warnings about a specific time period. Almost daily now, really big names are coming out with chilling predictions about what they believe is going to happen during the second half of 2015. But it isn’t just that these people have a “bad feeling” about things. The truth is that we are witnessing a confluence of circumstances and events in the second half of this year that is unprecedented. This is something that I covered in a previous article that went mega-viral all over the Internet entitled “7 Key Events That Are Going To Happen By The End Of September“. Personally, I have never been more concerned about any period of time than I am about the second half of 2015. And as you will see below, I am definitely not alone.
– Kiss Your Pension Fund Goodbye (Armstrong Economics, May 25, 2015):
I have been warning for some time that government was eyeing up pensions.The amount in private pension funds is about $19.4 trillion. The question that has been debated in secret behind the curtain is how to justify to the people taking that over. I have been warning that if this is seized by government, it will come after 2015.75. Just how that is to be accomplished was finally settled by the Supreme Court without any justification constitutionally.
The US Supreme Court ruled last week in the unanimous, 8-page decision in Tibble v. Edison holding that employers have a duty to protect workers in their 401(k) plans from mutual funds that are too expensive or perform poorly. That is simply astonishing since there is no constitutional requirement for even government to provide social benefits. The Supreme court held in HARRIS v. McRAE, 448 U.S. 297 (1980) it was explained that the constitution is negative not positive. There is no duty imposed upon the state to provide a program for that would convert the constitution from a negative restrain upon government to a positive obligation to provide for everyone.
– The Coming Crash of All Crashes – but in Debt (Armstrong Economics, May 16, 2015):
Why are governments rushing to eliminate cash? During previous recoveries following the recessionary declines from the peaks in the Economic Confidence Model, the central banks were able to build up their credibility and ammunition so to speak by raising interest rates during the recovery. This time, ever since we began moving toward Transactional Banking with the repeal of Glass Steagall in 1999, banks have looked at profits rather than their role within the economic landscape. They shifted to structuring products and no longer was there any relationship with the client. This reduced capital formation for it has been followed by rising unemployment among the youth and/or their inability to find jobs within their fields of study. The VELOCITY of money peaked with our ECM 1998.55 turning point from which we warned of the pending crash in Russia.
Martin Armstrong The System Will Crack And One World Currency Is Coming
Apr 12, 2015
Renowned financial analyst Martin Armstrong says you can forget about the U.S. dollar crashing in value. Armstrong contends, “No, that’s absurd. The euro is in terrible shape. The yen is in terrible shape, and honestly, you can’t park money in yuan or Russian rubles, yet. I mean, let’s be realistic here, but eventually–yes.”
Armstrong says the bond market is a different story as the Fed is going to be forced to raise rates. He contends just a few percentage points in rising rates are going to cause big losses and big changes. Armstrong predicts, “People will be losing huge money. We are looking at a few percentage points, and you are going to blow the national debts of all these countries way out of whack, and that’s what’s going to force political change.”
Join Greg Hunter as he goes One-on-One with Martin Armstrong of ArmstrongEconomics.com.
* * *
“There is a war coming in Europe,” he said. “Do you really think this matters?”
– Top Financial Experts Say World War 3 Is Coming … Unless We Stop It (Washington’s Blog, July 30, 2014):
Nouriel Roubini, Kyle Bass, Hugo Salinas Price, Charles Nenner, James Dines, Jim Rogers, David Stockman, Marc Faber, Jim Rickards, Paul Craig Roberts, Martin Armstrong, Larry Edelson, Gerald Celente and Others Warn of Wider War
Paul Craig Roberts – former Assistant Secretary of the Treasury under President Reagan, former editor of the Wall Street Journal, listed by Who’s Who in America as one of the 1,000 most influential political thinkers in the world, PhD economist – wrote an article yesterday about the build up of hostilities between the U.S. and Russia titled, simply: “War Is Coming”. In the article, Roberts notes: