Top Adviser To The Chinese Government Calls For A “Global Currency” To Replace The U.S. Dollar

Chinese

The former chief economist at the World Bank, Justin Yifu Lin, is advising the Chinese government that the time has come for a single global currency.  Lin, who is also a professor at Peking University, says that the U.S. dollar “is the root cause of global financial and economic crises” and that moving to a “global super-currency” will bring much needed stability to the global financial system.  [Read more…]

Tips For Preppers: Supplies, Survival Food And Emergency Essentials

 Preppers

Tips For Preppers: Supplies, Survival Food And Emergency Essentials

The global financial system is falling apart, the United States and Europe are absolutely drowning in debt, earthquakes and volcanic eruptions are becoming more frequent, signs of social decay are everywhere and war could erupt in the Middle East at any time.  Actually, it is absolutely amazing that there are so many people out there that still believe that “prepping” is not necessary.

When people ask me what they can do to prepare, there is usually one tip that I give above everything else.  It is not very “sexy”, but it is absolutely foundational. [Read more…]

Is a Catastrophic Economic Meltdown Coming?

economic-collapse

Is a Catastrophic Economic Meltdown Coming?

By Guy Christopher of Money Metals Exchange

The sticking point everyone wants to know when making financial decisions: Is a global economic disaster coming or not? According to headlines shouting green shoot recovery, rising employment, and a red hot stock market, the answer is Not.

Those propaganda headlines come with soothing tales of compassionate, wise, and unified central bankers running the show, having everything under control.

One by one, those bankers are now separating their nations’ fortunes, and their own, from one another. Many are publicly demonstrating they don’t trust each other, and just as certainly, proving why you should not trust any of them. [Read more…]

Who Is Behind The Oil War, And How Low Will The Price Of Crude Go In 2015?

War

Who Is Behind The Oil War, And How Low Will The Price

Who is to blame for the staggering collapse of the price of oil?  Is it the Saudis?  Is it the United States?  Are Saudi Arabia and the U.S. government working together to hurt Russia?  And if this oil war continues, how far will the price of oil end up falling in 2015?  As you will see below, some analysts believe that it could ultimately go below 20 dollars a barrel.  If we see anything even close to that, the U.S. economy could lose millions of good paying jobs, billions of dollars of energy bonds could default and we could see trillions of dollars of derivatives related to the energy industry implode.  The global financial system is already extremely vulnerable, and purposely causing the price of oil to crash is one of the most deflationary things that you could possibly do.  Whoever is behind this oil war is playing with fire, and by the end of this coming year the entire planet could be dealing with the consequences.

Ever since the price of oil started falling, people have been pointing fingers at the Saudis.  And without a doubt, the Saudis have manipulated the price of oil before in order to achieve geopolitical goals.  The following is an excerpt from a recent article by Andrew Topf

We don’t have to look too far back in history to see Saudi Arabia, the world’s largest oil exporter and producer, using the oil price to achieve its foreign policy objectives. In 1973, Egyptian President Anwar Sadat convinced Saudi King Faisal to cut production and raise prices, then to go as far as embargoing oil exports, all with the goal of punishing the United States for supporting Israel against the Arab states. It worked. The “oil price shock” quadrupled prices.

It happened again in 1986, when Saudi Arabia-led OPEC allowed prices to drop precipitously, and then in 1990, when the Saudis sent prices plummeting as a way of taking out Russia, which was seen as a threat to their oil supremacy. In 1998, they succeeded. When the oil price was halved from $25 to $12, Russia defaulted on its debt.

The Saudis and other OPEC members have, of course, used the oil price for the obverse effect, that is, suppressing production to keep prices artificially high and member states swimming in “petrodollars”. In 2008, oil peaked at $147 a barrel.

Turning to the current price drop, the Saudis and OPEC have a vested interest in taking out higher-cost competitors, such as US shale oil producers, who will certainly be hurt by the lower price. Even before the price drop, the Saudis were selling their oil to China at a discount. OPEC’s refusal on Nov. 27 to cut production seemed like the baldest evidence yet that the oil price drop was really an oil price war between Saudi Arabia and the US.

uscrises

If the Saudis wanted to stabilize the price of oil, they could do that immediately by announcing a production cutback.

The fact that they have chosen not to do this says volumes.

In addition to wanting to harm U.S. shale producers, some believe that the Saudis are determined to crush Iran.  This next excerpt comes from a recent Daily Mail article

Above all, Saudi Arabia and its Gulf allies see Iran — a bitter religious and political opponent — as their main regional adversary.

They know that Iran, dominated by the Shia Muslim sect, supports a resentful underclass of more than a million under-privileged and angry Shia people living in the gulf peninsula — a potential uprising waiting to happen against the Saudi regime.

The Saudis, who are overwhelmingly Sunni Muslims, also loathe the way Iran supports President Assad’s regime in Syria — with which the Iranians have a religious affiliation. They also know that Iran, its economy plagued by corruption and crippled by Western sanctions, desperately needs the oil price to rise. And they have no intention of helping out.

The fact is that the Saudis remain in a strong position because oil is cheap to produce there, and the country has such vast reserves. It can withstand a year — or three — of low oil prices.

There are others out there that are fully convinced that the Saudis and the U.S. are actually colluding to drive down the price of oil, and that their real goal is to destroy Russia.

In fact, Venezuela’s President Nicolas Maduro openly promoted this theory during a recent speech on Venezuelan national television

“Did you know there’s an oil war? And the war has an objective: to destroy Russia,” he said in a speech to state businessmen carried live on state TV.

“It’s a strategically planned war … also aimed at Venezuela, to try and destroy our revolution and cause an economic collapse,” he added, accusing the United States of trying to flood the market with shale oil.

Venezuela and Russia, which both have fractious ties with Washington, are widely considered the nations hardest hit by the global oil price fall.

And as I discussed just the other day, Russian President Vladimir Putin seems to agree with this theory…

“We all see the lowering of oil prices. There’s lots of talk about what’s causing it. Could it be an agreement between the U.S. and Saudi Arabia to punish Iran and affect the economies of Russia and Venezuela? It could.”

Without a doubt, Obama wants to “punish” Russia for what has been going on in Ukraine.  Going after oil is one of the best ways to do that.  And if the U.S. shale industry gets hurt in the process, that is a bonus for the radical environmentalists in Obama’s administration.

There are yet others that see this oil war as being even more complicated.

Marin Katusa believes that this is actually a three-way war between OPEC, Russia and the United States…

“It’s a three-way oil war between OPEC, Russia and North American shale,” says Marin Katusa, author of “The Colder War,” and chief energy investment strategist at Casey Research.

Katusa doesn’t see production slowing in 2015: “We know that OPEC will not be cutting back production. They’re going to increase it. Russia has increased production to all-time highs.” With Russia and OPEC refusing to give up market share how will the shale industry compete?

Katusa thinks the longevity and staying power of the shale industry will keep it viable and profitable. “The versatility and the survivability of a lot of these shale producers will surprise people. I don’t see that the shale sector is going to collapse over night,” he says. Shale sweet spots like North Dakota’s Bakken region and Texas’ Eagle Ford area will help keep production levels up and output steady.

Whatever the true motivation for this oil war is, it does not appear that it is going to end any time soon.

And so that means that the price of oil is going to go lower.

How much lower?

One analyst recently told CNN that we could see the price of oil dip into the $30s next year…

Few saw the energy meltdown coming. Now that it’s here, industry analysts warn another move lower is possible as the momentum remains firmly to the downside.

“If this doesn’t hold, we could go back to price levels in late 2008 and early 2009 — down in the $30s. There’s no reason why it couldn’t happen,” said Darin Newsom, senior analyst at Telvent DTN.

Others are even more pessimistic.  For instance, Jeremy Warner of the Sydney Morning Herald, who correctly predicted that the price of oil would fall below $80 this year, is now forecasting that the price of oil could fall all the way down to $20 next year…

Revisiting the past year’s predictions is, for most columnists a frequently humbling experience. The howlers tend to far outweigh the successes. Yet, for a change, I can genuinely claim to have got my main call for markets – that oil would sink to $US80 a barrel or less – spot on, and for the right reasons, too.

Just in case you think I’m making it up, this is what I said 12 months ago: “My big prediction is for $US80 oil, from which much of the rest of my outlook for the coming year flows. It’s hard to overstate the significance of a much lower oil price – Brent at, say, $US80 a barrel, or perhaps lower still – yet this is a surprisingly likely prospect, the implications of which have been largely missed by mainstream economic forecasters.”

If on to a good thing, you might as well stick with it; so for the coming year, I’m doubling up on this forecast. Far from bouncing back to the post crisis “normal” of something over $US100 a barrel, as many oil traders seem to expect, my view is that the oil price will remain low for a long time, sinking to perhaps as little as $US20 a barrel over the coming year before recovering a little.

But even Warner’s chilling prediction is not the most bearish.

A technical analyst named Abigail Doolittle recently told CNBC that under a worst case scenario the price of oil could fall as low as $14 a barrel…

No one really saw 2014’s dramatic plunge in oil price coming, so it’s probably fair to say that any predictions about where it’s going from here fall somewhere between educated guesses and picking a number out of a hat.

In that light, it’s less than shocking to see one analyst making a case—albeit in a pure outlier sense—for a drop all the way below $14 a barrel.

Abigail Doolittle, who does business under the name Peak Theories Research, posits that current chart trends point to the possibility that crude has three downside target areas where it could find support—$44, $35 and the nightmare scenario of, yes, $13.65.

But the truth is that none of those scenarios need to happen in order for this oil war to absolutely devastate the U.S. economy and the U.S. financial system.

There is a very strong correlation between the price of oil and the performance of energy stocks and energy bonds.  But over the past couple of weeks this correlation has been broken.  The following chart comes from Zero Hedge

War

It is inevitable that at some point we will see energy stocks and energy bonds come back into line with the price of crude oil.

And it isn’t just energy stocks and bonds that we need to be concerned about.  There is only one other time in all of history when the price of oil has crashed by more than 50 dollars in less than a year.  That was in 2008 – just before the great financial crisis that erupted in the fall of that year.  For much, much more on this, please see my previous article entitled “Guess What Happened The Last Time The Price Of Oil Crashed Like This?…

Whether the price of oil crashed or not, we were already on the verge of massive financial troubles.

But the fact that the price of oil has collapsed makes all of our potential problems much, much worse.

As we enter 2015, keep an eye on energy stocks, energy bonds and listen for any mention of problems with derivatives.  The next great financial crisis is right around the corner, but most people will never see it coming until they are blindsided by it.

 

Other useful resources:emp_100-d4d0288

Survival MD (Best Post Collapse First Aid Survival Guide Ever)

Backyard Innovator (A Self Sustaining Source Of Fresh Meat,Vegetables And Clean Drinking Water)

Blackout USA (EMP survival and preparedness)

Conquering the coming collapse (Financial advice and preparedness )

Liberty Generator (Build and make your own energy source)

Backyard Liberty (Easy and cheap DIY Aquaponic system to grow your organic and living food bank)

Bullet Proof Home (A Prepper’s Guide in Safeguarding a Home )

Family Self Defense (Best Self Defense Strategies For You And Your Family)

Sold Out After Crisis (Best 37 Items To Hoard For A Long Term Crisis)

 

 

SOURCE : theeconomiccollapseblog.com

Apocalypse now: Doomsdayers warn stock up, bunker down

380034-prepper

 

Apocalypse now

Survivalist Robert Bast is preparing for the end of the world and has written a book on survival. Picture: Mike Keating
The Apocalypse: What time will it all end?
Happy Doomsday!
THE problem – as Mayan apocalypse expert Robert Bast puts it – is that if you build it, they will come.

And that’s why the man who wrote the book on the impending end of the world. 

RELATED : Apocalypse Now: Preppper Are Gearing Up for Ebola

Asked to take us to the safe house, he and his wife and three children will be fleeing to today, he was adamant that its location had to remain secret.

”I’ve turned down every request for a visit,” he said.

”One of the fundamentals of prepping is you don’t let anyone know what you’ve got or why you’ve got it.”

The reason for the secrecy has less to do with paranoia and more to do avoiding awkward situations, he said.

Usually preppers only stock enough for them and their family.29

”It would be horrible having people come up to the place begging,” he said.

”It’s an intolerable situation so you just don’t let anyone know.”

Mr Bast said he’s been stocking up for years on supplies like water, canned goods, equipment and medical supplies even though he can’t say for sure what is going to happen.

A giant solar storm that could blow up transformers, knock out power grids and leave humanity in darkness and in financial ruin is the most likely scenario, Mr Bast said.

”It would be a real end of the world as we know it for Western society as we rely on electricity for everything, our banking systems, hospitals, pumping water to our homes, sewage away from our homes, filling cars with fuel, for communications,” he said.

”Two days after the power blackout, you’ll start to see anarchy.”

Mr Bast rates the chances of a solar storm happening at 10 per cent but says he’s still scared enough to prepare for the worst.

But not everyone agrees on what might happen today.

South Australian survivalist Leo Boersma told News Ltd that today will mark a ”period of transition” and the beginning of dramatic changes to the global financial system.

”Everything will come crashing down,” Leo said.

”Extreme cold, extreme heat, tsunamis and tornadoes will be on the increase, but it won’t all happen on the 21st.”

RELATED : 5 Food Storage Items That Will Last Longer Than Any Apocalypse

The small business owner, who sells health supplies, said he would be taking a backpack full of essentials like a torch, batteries and water filtration with him to the Blue Mountains where he will be spending time with his 32-year-old son and some other family members.

 

Despite the dramatic climate patterns that Leo expects will begin today, he is adamant they are not the result of global warming.

”Our solar system is going through a period of change which happens every 2500 years or something,” he said.

”Imagine you’re a cave man living in a cave and someone said they were imposing a carbon tax on it.”

Owner of survival supply company Survival Storehouse, Mark Barrett, told News Ltd that he sold out almost all his supplies over the last three months and has made ten times as much profit compared to December last year.

The Storehouse had delays in their stock orders due to Hurricane Sandy in the US, where the supplies were coming from.

”Our next shipment comes in today and nobody’s going to buy it,” he said.
The Mayan apocalypse: What it is (or probably isn’t)

What it actually means: The Mayan Calander will end on the 21st of December 2012. No Mayan prophecy has ever actually predicted the end of the world, but this hasn’t stopped people from forming their own conspiracies. Just time for a new calender, is all.

How it will happen: The top three suggestions are death by solar storm followed by starvation, the collapse of financial systems and disease, death by comet unseen, death by planetary alignment.

Should I be worried: Absolutely not. That said, given the increase in natural disasters over the years, it doesn’t hurt to keep a small, sensible amount of supplies so that if your town floods you don’t have to fight off panicked masses in the supermarket.

 

Other useful resources:22

 

Backyard Innovator (A Self Sustaining Source Of Fresh Meat,Vegetables And Clean Drinking Water)

Blackout USA (EMP survival and preparedness)

Conquering the coming collapse (Financial advice and preparedness )

Liberty Generator (Build and make your own energy source)

Backyard Liberty (Easy and cheap DIY Aquaponic system to grow your organic and living food bank)

Bullet Proof Home (A Prepper’s Guide in Safeguarding a Home )

Family Self Defense (Best Self Defense Strategies For You And Your Family)

Sold Out After Crisis (Best 37 Items To Hoard For A Long Term Crisis)

 

 

120 Powerful Pieces Of Advice For Preppers

 

Preppers

Our world is becoming increasingly unstable, and millions of Americans are feverishly preparing for what they consider to be “the end of the world as we know it”.  In fact, it is estimated that there are now approximately 3 million “preppers” in the United States.  But for people that have never done much prepping before, getting started can be both confusing and intimidating.  [Read more…]