Bob Chapman of The International Forecaster has his newest article up and it isn't pretty. Read the first few paragraphs here and then follow the link to read the rest of the article. Bob has realized that the program has been accelerated and will soon be known to everyone - awake and asleep - that the US is going down. Bob, up until even 3 weeks ago, said that the crash of the dollar may take up to a year to a year and a half - he has a different slant in this article. You can also follow the link to listen to him on a radio show.
After you read the article, let it be known that Bob has said it may be a 3 to 1 exchange - that means that for every 3 "new dollars" that the old dollars will only be worth one. That doesn't even take into account what hyper-inflation will do. That doesn't take into account many things such as: if we can even get products, if trucking continues because gas is too expensive. I cannot stress it enough people - keep prepping. Keep putting food back and other supplies. Get extra shoes, socks and underwear too - it may be a long time before you can afford to buy these basic items.
This may very well take us down the path of a Road Warrior scenario in our land. The US will be changed forever. Add in a new flu on top of no money for the basics like food, water and shelter and you have a recipe for disaster. You will have gangs going bonkers and soccer moms freaking out. People will be afraid and confused and hungry. Probably cold too. No gas, they will be walking and staking out their next "take." Be ready. Be watchful.
Bob Chapmans' "The International Forecaster"-
"The following information may be the most important we have ever published. One of our Intel sources, highly placed in banking circles, tells us that on 1/1/10 all banks that have received TARP funds have been informed by the Federal Reserve that they must further restrict any commercial lending. Loans have to be 75% collateralized, 50% of which has to be in cash, which is a compensating balance.
The Fed has to do one of two things: They either have to pull $1.5 trillion out of the system by June, which would collapse the economy, or face hyperinflation. This is why the Fed has instructed banks to inform them when and how much of the TARP funds they can return. At best they can expect $300 to $400 billion plus the $200 billion the Fed already has in hand.
We believe the Fed will opt for letting the system run into hyperinflation. All signs tell us they cannot risk allowing the undertow of deflation to take over the economy. The system cannot stand such a withdrawal of funds. They also must depend on assistance from Congress in supplying a second stimulus plan. That would probably be $400 to $800 billion. A lack of such funding would send the economy and the stock market into a tailspin. Even with such funding the economy cannot expect any growth to speak of and at best a sideways movement for perhaps a year.
We have been told that the FDIC not only is $8.2 billion in the hole, but they have secretly borrowed an additional $80 billion from the Treasury. We have also been told that the FDIC is lying about the banks in trouble. The number in eminent danger are not 552, but a massive 2,035. The cost of bailing these banks out would be $800 billion to $1 trillion. That means 2,500 could be closed in 2010. Now get this, the FDIC is going to be collapsed before the end of 2010, which means no more deposit insurance. This follows the 9/18/09 end of government guarantees on money market funds. Both will force deposits into US government bonds and agency bonds in an attempt to save the system.
This will strip small and medium-sized banks and force them into shutting down or being absorbed. This means you have to get your money out of banks, especially CDs. We repeat get your cash values out of life insurance policies and annuities. They are invested 80% in stocks and 20% in bonds. Keep only enough money in banks for three months of operating expenses, six months for businesses.
Major and semi-major banks are being told to obtain secure storage for new currency-dollars. They expect official devaluation by the end of the year." Link to rest of article HERE. Radio interview HERE.
Blessings
Ernie






