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For over two years now, I’ve been warning that the 2008 Crash was just a warm
up and that the REAL Crisis would occur when the stock market realized that the Central Banks, lead by the US Federal Reserve, could NOT actually hold the financial system together. Well, the Crisis I’ve been warning about is here. [Let me explain.] Words: 306
So says Graham Summers (www.gainspainscapital.com) in edited excerpts from his most recent newsletter mailing (subscription is free) entitled Has the Next Round of the Great Crisis Begun?
Lorimer Wilson, editor of www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and www.munKNEE.com (Your Key to Making Money!), has edited the article below for length and clarity – see Editor’s Note at the bottom of the page. This paragraph must be included in any article re-posting to avoid copyright infringement.
Summers goes on to say, in part:
Below is the chart of the S&P 500 since the day QE 3 was announced. As you can see, stocks are DOWN.
Let that sink in for a moment… the US Federal Reserve has announced an unlimited program and stocks have FALLEN.
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The same is true in Europe where the ECB announced an unlimited bond buying and Europe’s most troubled market, the Spanish Ibex, has FALLEN.
…[There you have it!] Both the Fed and the ECB, the two most important Central Banks in the world, have announced unlimited money printing programs and the markets are DOWN.
Now this doesn’t mean that the markets will implode tomorrow or next week… but this is a MAJOR change of events that indicates the next round of the Great Crisis (the worse round) is well on its way.
When it hits in full force, we’re going to see:
- major banks go under,
- market crashes,
- food shortages,
- government shutdowns, and
- SYSTEMIC FAILURE.
Yes, I believe that before this mess ends, the financial system as a whole will have collapsed. [Indeed,] what’s coming is going to make 2008 look like a joke.
Many people will lose everything in this mess. Yes, everything. The U.S. is going to be defaulting on its debt and paper currencies around the world will fail. It’s going to be a dark dark time.
Editor’s Note: The above posts may have been edited ([ ]), abridged (…), and reformatted (including the title, some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. The articles’ views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article.
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