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.
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For starters, nothing says “I don’t trust you anymore” like demanding the return of tons of gold stored for safekeeping in the U.S. for most of eight decades. Bank masters in Austria, Germany, Venezuela, Holland, and other nations began publicly calling their gold home from Fort Knox shortly after the 2008 subprime mortgage crisis brought the world face to face with economic annihilation.
And no one says “I don’t trust the paper money we’ve all been printing” louder than Alan Greenspan, chairman of the U.S. Federal Reserve Bank for 19 years until 2006.
Only Now Does Greenspan Level with Us
Greenspan sixty years ago was a close friend and collaborator of philosopher and free-market icon Ayn Rand. He was without question a strong proponent of gold. But during decades as a supposed financial wizard and then head of the Fed, Greenspan abandoned Rand’s teachings that markets should be free from government meddling.
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Now aware his historical legacy is up for grabs, he is rewriting his resume, publicly throwing his still-considerable influence to favor gold. Since leaving the Fed, he has been saying loudly and without apology gold is better to hold than paper money, starting with U.S. dollars.
“Gold is a currency… by all evidence, a premier currency. No fiat currency, including the dollar, can match it,” he said in 2014. He told the BBC in February he believes the Euro is doomed.
Greenspan pretended for 19 years he ran a non-political Federal Reserve. But at a financial conference last year, he had jaws dropping everywhere.
“I never said the U.S. Federal Reserve was independent,” was his response to a question about his policies. Greenspan’s bombshell was meant to inoculate himself from the long lasting effects of his dangerous policies. But it serves as an off-hand admission he spent his life as a puppet, not a puppet master.
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You Pay the Price for Central Bankers’ Lies
One of the most transparent, lying bank masters on record is Jean-Claude Juncker, former prime minister of Luxembourg, former economic wizard of the European Council, and current President of the European Commission. Juncker happily bragged about lying. “When it becomes serious, you have to lie, “he said in a now infamous self-tribute.
In a videotaped economic conference in 2011, Juncker told his audience he often “had to lie” while running Europe as its economic superstar. Sometimes he truthfully told us why. “I am for secret, dark debates,” he said in 2011. It would “not be intelligent to draw public attention” to facts, he once told a top British banker. One chilling Juncker quotation admitted central bankers criminally manipulate a sleep-walking public. Most people can’t understand what we do, he said, so “we continue step by step until there is no turning back.”
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Some former central bankers are coming clean, but Ben Bernanke is the holdout. Infamous for his 2006 assurance to Congress the housing market was solid and in fine shape a year before it collapsed, Bernanke is writing his autobiography to explain how he saved the world by printing and giving away trillions. He gets $250,000 of those dollars back for one-hour speaking engagements.
Central bankers are edgy. They recognize they’ve created disasters and want to distance themselves from the consequences.
In Washington earlier this month, banking officials from across the globe gathered to publicly discuss hot buttons like Greece, Iraq, and Ukraine. The New York Times reported the top subject discussed behind closed doors was Beltway “dysfunction,” quoting one central bank official saying the “single most important issue” of all the meetings was U.S. failures.
Any list of America’s top allies will show most of them abandoning the U.S. economically. Great Britain, Canada, Australia, South Korea, France, Germany, and 51 other nations are clamoring to join either Russia’s Eurasian Economic Union (EAEU) or China’s Asian Infrastructure Investment Bank (AIIA). Both are designed to compete with – and eventually destroy – U.S. economic and military influence around the world.
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America’s Allies Are Hedging Themselves
U.S. allies are eagerly making deals to replace the U.S. petro-dollar with the Chinese yuan for international trade, while Washington begs them not to. Even Taiwan, long protected by the U.S., tried to join China’s AIIA against Washington’s wishes.
Former Treasury Secretary Larry Summers, a top economic adviser to presidents Obama and Clinton, warned a few weeks ago economic allies abandoning the U.S. marks “the moment the United States lost its role as the underwriter of the global economic system.”
The economist who defined the modern-day currency war, author Jim Rickards, summed it up in a Money Metals podcast. Rickards describes the global economy as not in recovery but in depression. Central bankers “don’t know what they’re doing. They won’t say it publicly but they do say it privately. This is one big science experiment.”
Today, across the world, the big money is rapidly changing hands as bankers frantically change dance partners. Bank masters are telling us big changes are coming, either over time or perhaps overnight.
Would big changes necessarily mean another global, catastrophic economic meltdown on its way with no turning back? The record is clear – the people with that answer would be those who caused it with their secret policies and actions.
They haven’t yet told us everything they know, but they have told us they cannot be trusted.
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MoneyMetals.com columnist Guy Christopher is a seasoned writer living on the Gulf Coast. A retired investigative journalist, published author, and former stockbroker, Christopher has taught college as an adjunct professor and is a veteran of the 101st Airborne in Vietnam.