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…Whenever a country (or countries) creates debt that is beyond the level that they can ever repay, 
an economic collapse is a near-certainty. Today, many jurisdictions, particularly, the US, EU, UK, Canada, etc. have created debt that is far beyond anything the world has ever seen. This assures us that the corresponding collapse will be of epic proportions.
The comments above and below are edited ([ ]) & abridged (…) excerpts from an article by Jeff Thomas (internationalman.com) to provide a faster and easier read.
Of course, I’m frequently asked, “When will it happen?”…however…my general principle is that when an economic unraveling of major proportions is coming, significant events increase in frequency and severity….
The principle is based on human nature.
Most people, in any country, tend to assume that they have plenty of time to prepare for eventualities but as they get closer they realise that they’re lagging behind and need to speed up the preparations. This is especially true if they happen to be arrogant, which is commonly the case with governments. They:
- underestimate the timeframe necessary and
- fail to plan for delays along the way.
As the lesser events leading up to the main event occur, they do so with greater frequency…[and] increase in magnitude, as the biggest, least palatable steps are put off as long as possible. For the above reasons…by the time the actual event is about to take place, they tend to be falling over themselves, in a panic to get all their ducks in a row.
There’s one more factor, however, that exacerbates this pattern even more. As long as everything seems to be working well, most everyone in the system remains complacent. As the events increase in both frequency and severity, each cog in the wheel gets increasingly nervous, and the closer we get, the more each cog is likely to become unglued and do things that are not in keeping with the overall plan. As a result, the situation becomes increasingly chaotic and unpredictable, as each middle manager, each civil servant, each politician, each banker, makes his own sudden moves to protect himself.
As a result, just prior to the main event (the crash), we can expect to be seeing big surprises on an almost daily basis:
- more bankers being charged with impropriety,
- more political leaders being ousted,
- more infighting amongst politicians and
- more members of the general public scrambling to safeguard their wealth.
Each of these individuals may have a plan as to what he is going to do and when, but his plan may get derailed as others make sudden dramatic moves, changing the field of play with ever-increasing frequency. When this stage is reached we should personally have already hunkered down for the storm.
- we should, in effect, be picturing the tornado on the horizon.
- we should have pulled in the laundry from the line, shuttered up the house, moved food and water into the root cellar, and now be waiting on the porch to see if we’re likely to be hit.
- At this point, we should only need to grab the kids and head for the cellar.
In investment terms, this means that…we should already have:
- gotten out of the markets,
- emptied our local bank accounts – except for three months of operating expenses,
- liquidated our local assets as much as possible and moved the proceeds to a jurisdiction that’s likely to weather the storm better, and
- invested in overseas real estate and precious metals.
- Further, it would be wise, if possible, to have prepared a bolt hole overseas, should we need to suddenly get on a plane due to riots, food and fuel shortages, government imposition of martial law, etc.
We’re approaching that final stage at present. Dramatic events are now occurring weekly, and when they reach the daily level, we’ll see the same expression on our neighbours’ faces that we might have seen on the faces of the Titanic passengers after the ship hit the iceberg.
Each individual, each bank, each government will be out to save their own skin. Contracts, laws and treaties will suddenly be abandoned. There will be no coordination at this point. The collapse will be random, and it will be every man for himself.
Disclosure: The above article has been edited ([ ]) and abridged (…) by the editorial team at 
munKNEE.com (Your Key to Making Money!) to provide a fast and easy read.
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