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The Global Western Economy Is in Collapse Mode!

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GET READY FOR THE GLOBAL ECONOMIC COLLAPSE – GLOBAL ECONOMIC RESET!

What is happening in Greece right now is just the beginning! It will eventually happen in other Eurozone countries like Spain, Portugal, Italy, France and in countries all around the world, including the US, Australia, Canada and the UK!!!

All Western Governments are insolvent and are working their way towards total bankruptcy of their nations; it is a race to the bottom – across the entire west!

 

 

Will you survive?

The old men are at it again, this time in Davos at the World Economic Forum, huddled together over bottles of expensive wine and fine organic food, they are stressed trying to figure out how to turn you into a whimpering, paralyzed slave!

The solution is always globalism! More of the same! Just let us control everything, they soothe…

First they have to terrorize you… That’s what they’re doing now! Look at what is going on in your country today!

William White, former Chief Economist for the Bank for International Settlements (BIS) was just quoted by the UK Telegraph as saying, “The next task awaiting the global authorities is how to manage debt write-offs – and therefore a massive reordering of winners and losers in society – without setting off a political storm …”

George Soros joined in with his own predictions of doom, as reported by BusinessInsider: “The world is running into something it doesn’t know how to handle … We are repeating [2008].”

It’s all nonsense if you know what to do and how to position yourself… Make Your Plan B – Today!

Gold isn’t something that you buy with paper currency hoping to sell it later on down the road for even more paper currency.

Rather, the entire point of gold is to trade paper currency for something that can hold its value over the long-term, yet is still liquid, divisible, and universally recognizable.

There are almost zero assets that fit the bill. Gold is one of the few!!!

Gold is real. It has its own challenges (including counterfeit, manipulation, etc.) that make it far from perfect. But it’s physical, tangible, and cannot be conjured out of thin air by central bankers.

What’s more, it’s one of the only private forms of money remaining, and it’s a great way to transport a substantial amount of savings abroad without anyone knowing.

I’ve long been an advocate of moving a portion of one’s savings overseas. (Refer to my past posts)

After all, what’s the sense of leaving 100% of your assets within a country ruled by a morally and financially bankrupt government that treats you like a dairy cow?

Moving some of your gold abroad to a jurisdiction that prides itself on maintaining a high level of financial security and privacy protects you against legal thievery your government might commit against you.

Sure, it’s a risk that might never come to fruition. But you won’t be worse off for having stashed some of your gold away privately in a safe, stable jurisdiction.

Ed Bugos is one of the most renowned gold mining analysts in the world, with billionaires often consulting with him on prospective mines.

He’s also one of the most reclusive.  While he has been writing online since the early 2000s, he has never been recorded in an interview.  

In his recent incredibly insightful interview, Ed looks at the markets through his Austrian economics lens and explains the facets that have led to gold and silver having been in a downtrend since 2011 and why he thinks it is about to reverse.

Ed was one of the only analysts that recommended shorting the Nasdaq just before the tech bubble burst in 2000 and recommended his clients buy gold near $200 per ounce with the outrageous claim, at the time, that gold would rise to $2,000.

He now is making his latest “outrageous” claim, that gold will rise from near $1,000 to $5,000 and, even more interestingly, that gold mining stocks have never been a better buy in modern history.

Singapore

Singapore is currently the world’s top destination for gold storage!

It’s one of the safest places on the planet. There’s practically zero crime. Corruption isn’t an issue, as it’s one of the most transparent places in the world.

Prices for gold storage are incredibly competitive, and with recent legislation that eliminated import duties and taxes on investment-grade gold, premiums are dropping.

Vistit Bullion Star and Secure Your Weralth Today – Buy Gold and Silver Bullion and Store it in Singapore! https://www.bullionstar.com/buy/gold_bars?r=217

The system is more precarious than ever, and eventually these bankers’, politicians’, and bureaucrats’ bad decisions will catch up with them!!!

To prevent your life’s savings from being the victim of others’ stupidity and misjudgement, one important (and obvious) step is to consider moving a portion of your savings into a safer, more stable jurisdiction abroad.

How can an overseas bank account see you safely through crisis?

Protection from Financial Shocks
Risk/Threat 1: Your bank is highly illiquid and potentially insolvent.

Think your bank actually has your money? Guess again!

Most people don’t give a second thought to where they deposit their money, assuming that if it’s been approved by the government as a financial institution that it must be safe.

Unfortunately that didn’t work back in 2008, and it won’t work now.

Most Western banks in the West, encouraged by government guarantees, keep very little in reserves and loan as much as they possibly can.

This can give them very high returns when the market is going strong, but is a dangerous bet in case things go south.

If confidence in a bank wanes and a large number of customers decide they want their cash, a bank could become completely illiquid.

And if the market falters and a significant number of the banks’ loans and investments go bad, they could quickly become insolvent.

Both of these things can literally happen overnight, and suddenly depositors can find themselves cut off from their savings. Or worse.

Unfortunately the FDIC, which insures these deposits, is in no position to bear this burden as the FDIC itself admits that it is undercapitalized.

Securing your assets in this case comes not just from putting your savings into any institution overseas, but into a foreign bank with ample reserves in a stable, well-capitalized jurisdiction.

Shifting yourself from a high-risk to a low-risk environment simply means that you’re less likely to face this threat to your savings in the first place. It’s the logical thing to do!

Protection from Asset Seizure
Risk/Threat 2: Your assets can be frozen in an instant.

You may not know it, but US banks filed 1.6 million suspicious activity reports (SARs) last year. Chances are that your bank submitted one about you.

Even withdrawing or transferring a low 5-figure amount can trigger the bank to submit a suspicious activity report, as they are forced to spy on and rat out their customers.

If some government agency decides that your financial transactions are potentially linked to illicit activity they can seize your account with just one click. They don’t need to have any proof of actual illicit activity to do so, it is solely up to their discretion.

Of course you can sue them to try to prove your innocence, but with your accounts frozen what funds would you use to do that?

Here, having an account overseas in a foreign jurisdiction means that for whatever reason, your home government can’t freeze with just a phone call.

It’s a great way to keep some funds out of their immediate control.

Protection from Capital Controls
Risk/Threat 3: Bankrupt governments almost invariably resort to capital controls. Are you willing to bet it all that this time is different?

It’s widely known how deeply in debt the US government is. And despite what politicians might think, governments cannot keep borrowing and printing forever. Someday their credit will run out.

Historically when people start to sense that things are going south economically in their country, they start moving their money towards the exits.

It’s precisely what’s happening in places like Greece, and even China, where depositors are pulling billions out of the banking system.

Governments take steps to prevent this from happening by imposing capital controls.

They restrict foreign exchange transactions, wire transfers, and even withdrawals, all to prevent you from taking money out of their precious banking system.

Moving a portion of your savings to a safer jurisdiction with minimal debt can substantially reduce this risk.

Regardless of the threat, whether it comes from the financial system or your government, you can take steps to protect yourself by diversifying your assets and securing them in a safer, more stable jurisdiction abroad.

This is an incredibly important step in a solid Plan B!

There are so many options!

You might look abroad to hold a portion of your savings where the banks are extremely liquid and well capitalized, located in a jurisdiction with minimal debt.

Or you might simply consider holding some physical cash, or a mix between physical cash and precious metals.

These aren’t radical ideas. It’s sensible to take astute, rational steps to protect yourself from the consequences of such obvious risks.

It’s also by far the easiest step one can take, as there are many overseas accounts that you can start without even leaving your living room.

On January 1st of this year the European Union passed into law an official “bank bail-in” clause.  The bail-in legislation put into law, across Europe, what was done in Cyprus in 2013 where bank account holders had their funds seized to “save” the bank.  To us, and anyone who is paying half-attention, this was a clarion call to get your funds out of European banks.

Not only was it clear that the European Union knew what was coming but it was also clear, again to anyone paying attention, that what happened in Cyprus would happen throughout the European Union.

The Italian Finance Minister is publicly acknowledging that Italy’s banking sector is woefully undercapitalized.

Many trade statistics, including railroad cargo and airfreight volumes, sea freight rates, and the World Trade Monitor index, signal drastically reduced global trade.

The US Federal Reserve, on a mark to market basis, and is now officialy and completely insolvent!

The forecast for an ‘avalanche of bankruptcies’ and suggestions by many credible economist and geopolitical analysts is that central banks across the western world no longerhave any remaining options and or tools to fight off the financial collapse of this system – apart from a Debt Jubilee!!!

These are all rather obvious, recent indications that the next eruption is now approaching!!!

Chances are you’ve never heard of William White… You might have heard of the organization that he used to manage—the Bank of International Settlements (BIS).

The BIS is often called the central bank of central banks; their role is essentially to facilitate international financial transactions among the world’s central banks.

So they are a major component in the international financial system, just like the IMF and World Bank.

William White is a central banker who used to be on the BIS management committee. And this makes him a key member of the global financial establishment.

It’s not too often that central bankers are particularly transparent with the public.

Ben Bernanke famously told the world in July 2005 that there wouldn’t be a nationwide decline in home prices in the United States.

Then just a few months later when home prices did fall, he told Congress that the adverse effects of the housing market were ‘contained’ and wouldn’t affect the broader economy.

He was dead wrong on both accounts! And one of the biggest financial crises in history broke out shortly thereafter.

Central bankers seem to always miss the crisis just around the corner!

That’s pretty scary given that they have the power to dominate and control just about everything in the entire economy.

And despite a serial track record of failure, we’re just supposed to trust them to be smart guys. Hmmm

This month (Jan 2016), William White gave an interview stating some things that you never hear coming out of the mouth of a central banker. Ever.

According to White, the global financial system is dangerously unstable!

“The situation is worse than in 2007,” he said, and went on to explain that central banks no longer have the ammunition to fight off a major crisis.

He railed against the mountain of government debt that has accumulated worldwide, saying that “it will be obvious in the next recession that many of these debts will never be serviced or repaid.”

White also suggested that banks, particularly in Europe, will have to be recapitalized on an unimaginable scale.

And due to all the new regulations, it will be depositors who have portions of their accounts confiscated by the state in order to fund the bank bailouts.

William White is not alone!!!

Michael Bury, the man who made $100 million betting against the last housing crisis, sees the same thing.

In an interview last month, Bury spoke about the “absurdity” of the massive level of debt in the system, and the Federal Reserve’s pitiful balance sheet.

When he gave the interview, the Fed’s balance sheet was leveraged 77:1. Today, barely a month later, it’s over 100:1.

Financial markets have been in panic mode since the beginning of the year!

Just in the first few weeks of January, US stocks are down more than 10%. In China, the epicenter of the chaos, stocks are down 20%.

And, Commodity prices continue to fall, while Shipping has come to a halt!!!

Maybe the world has realized that the path to prosperity is not in conjuring money out of thin air, raising taxes, or going deeper into debt…

Maybe people have finally figured out that an insolvent government and insolvent central bank cannot possibly continue to underpin the entire financial system…

Or maybe not….

Maybe this will all be forgotten in a few weeks… And the next coming Christmas no one will remember the great crisis of January 2016 that almost was…

But to me the incredible thing is how much panic there has been, particularly in banking and financial markets, just at the mere HINT of problems in the system!!!

It’s a clear indication of how quickly people can lose confidence and an entire system can become unglued.

Maybe things drag on like this for years, with government continuing to pile up debt and central banks continuing their slide into insolvency.

Maybe interest rates can become even more negative, and banks can become even less liquid.

But one day that confidence will turn! And as this month shows, it can all happen in an instant!

Personaly, I’m an optimistic type…

Crisis always brings opportunity for those who can see the obvious realities. And I think what’s starting to unfold is tremendously exciting!

Economics isn’t complicated. The Universal Law of Prosperity is very simple: produce more than you consume!

Governments, corporations, and individuals all have to abide by it. Those who do will thrive. Those who don’t will fail, sooner or later.

When the entire financial system ignores this fundamental rule, it puts us all at risk.

And if you can understand that, you can take simple, sensible steps to prevent the consequences.

Fortunately, moving out of the danger zone doesn’t need to be complicated!!!

If your banking system is pitifully illiquid or even undercapitalized, don’t keep all of your savings there. Simple!!!

It’s now 2016, in today’s world it’s possible to move some savings to a stronger, more stable jurisdiction overseas, all without leaving your living room.

You can establish an account to hold precious metals, or even physical cash, in one of the safest depositories in the world, all while you’re sitting in your underwear.

The breadth of opportunities that we have available to us thanks to our modern technology is extraordinary. What is Your Plan B?

These are solutions that make sense no matter what happens!

I hardly consider myself worse off because I produce and or have available close by my own organic food.

Or because I have multiple passports allowing me to live, work, travel, and invest easily in many places across the world.

Or because I hold a portion of my savings at an incredibly well-capitalized bank in a jurisdiction with no debt that has never had a banking failure ever!

Financial crises and eruptions have occurred over and over again since ancient times.

Governments and policymakers keep making the same mistakes and expecting different results.

But you and I now have more options at our disposal to do something about it than ever before in history.

This is exciting, and taking action should be a no-brainer! Do You have a Plan B?

To help you get started, I have established networks in safe jurisdictions that will come out on top after the impending global economic collapse/reset. Contact me via email ilias@iliasbafas.com



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Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.


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