2015 Collapse To Dwarf That Of 2008

[EE_]

Man Asked To Speak To Chinese Officials Warns 2015 Collapse To Dwarf That Of 2008
December 29, 2014

Today a legend who was recently asked by the Chinese government to give a speech to government officials in China warned King World News that the 2008 collapse was merely a dress rehearsal for what the world will face in 2015. John Ing, who has been in the business for 43 years, also discussed what is going to trigger a disastrous chain reaction, panic and worldwide financial destruction in the coming year.

John Ing: “While everybody appears to be celebrating the record highs on Wall Street, we are also seeing a loss of public trust. One key example of this loss of public trust is when you look at the $1.1 trillion spending bill in the U.S., where there was the dilution of the Dodd-Frank Act which now allows for bail-ins in the United States.

Elizabeth Warren immediately warned that we keep on diluting these so-called safeguards that have been put in place which were designed to prevent a repeat of 2008. This will lead to disastrous consequences….


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“Meanwhile, the derivatives monster has gotten even bigger. With the drop in the oil price we have yet to see the impact of the credit default swaps and what this will mean for the stability of the global financial system. This will certainly set off a chain reaction of problems in 2015.

China Making Aggressive Moves

In the midst of the collapse in crude prices, we see China aggressively stockpiling oil. They are taking full advantage of the surplus and the low price in order to build massive reserves. What’s most important here is how the Chinese have been paying for this oil — in yuan and rubles, not dollars. This is part of a growing move around the world away from the U.S. dollar, and this trend is set to accelerate in 2015. Despite the recent weakness, this will mean a very big year for the gold market.”

Eric King: “Is 2015 the year we see another derivatives nightmare like the one the world got a taste of in 2008/2009?”

Ing: “There is no question about that. The derivatives complex today is even bigger than it was in 2008. U.S. bank derivatives exposure alone is in the hundreds of trillions of dollars. What people don’t realize is that 15 percent of that exposure is in the energy sector. So when oil is at $54, half of what it was before, undoubtedly this will create tremendous turmoil in the derivatives arena and we have not seen the fallout from that yet. This is setting up to be a repeat of the 2008 subprime collapse all over again.”

2008 Collapse Simply A Dress Rehearsal

Eric King: “When this turmoil starts to unfold, John, how catastrophic will it be?”

Ing: “The 2008 collapse was just a dress rehearsal compared to what the world is going to face this time around. This time we have governments which are even more highly leveraged than the private sector was. So this time the collapse will be on a scale that is many magnitudes greater than what the world witnessed in 2008.

Government balance sheets are in far worse condition today because of the money printing binge which was undertaken as a desperate attempt to keep the world from totally imploding in 2008/2009. We are told that governments can always tax people but that is preposterous. Also, we only have to look at Russia and Venezuela to see we have the beginning of a series of catastrophic sovereign defaults in the wings.

Right now the world seems content to keep their foreign exchange reserves in U.S. Dollars, but that will change. You saw what just happened with the Russian ruble. Well, the U.S. dollar is the most vulnerable currency in the world, much more so than Russia’s currency. So the world is headed for incredible turmoil in 2015 as the dollar plunges and the derivatives monster unleashes fear and panic across the globe.”

http://kingworldnews.com/man-asked-speak-chinese-officials-warns-2015-collapse-dwarf-2008/

[EE_]

Exposed – Dangerous 2015 Ahead As Global Governments Plan To Steal Money
December 29, 2014

Today a 40-year market veteran sent King World News an incredibly important piece that exposes global governments and their treacherous plan to steal people's money. This piece exclusively for KWN also cautions readers around the world to expect a wild and dangerous ride in the coming year.

By Robert Fitzwilson of The Portola Group

December 29 (King World News) – In mid-December, the U.S. Treasury finalized the rules for what looks like a fairly innocuous addition to the retirement plan menu, the so-called “myRA”. We say “finalized” with a wink as we all know that what has been promulgated is simply the proverbial camel nose under the tent. It looks benign and even positive, but the program clearly has the agenda of redirecting the retirement savings away from the current IRAs and other plans enjoyed as the primary savings vehicle for most Americans.

The target has to be the near $20 trillion of retirement assets in the United States. The final incarnation of this retirement model will most likely be adopted globally by other governments, so those living outside of the U.S. should pay heed as well….

Continue reading the Robert Fitzwilson piece below…

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A commission was set up in the early 1980s to “fix” the problems with the U.S. Social Security System. Not surprisingly, Alan Greenspan chaired the commission. The recommendations of the commissioners resulted in higher taxes for both wage earners and employers. The plan was to tax workers in advance, taking in more money up front for the Social Security System that would be paid out at a later date.

However, the money was not saved for a later date, but simply spent within the context of the general budget. Since the 1970s, the Social Security payments and receipts had been consolidated with the general budget. The purpose was to come up with additional funds to support the war in Vietnam and the mushrooming Great Society programs — the “Guns and Butter” policy.

Greenspan assured the Country and his colleagues that only very adverse economic events could impact the soundness of the Program once the reforms were implemented. A mere 15 years after making such assurances and despite strong economic growth, Greenspan concluded that the Social Security System was not viable once the Baby Boomers began to retire. There never was any saving up for a rainy day. It was the age old pattern of tax and spend which is built into the DNA of politicians and political institutions.

The myRA regulations proposed by the Treasury call for participants to invest in a “non-marketable, electronic savings bond,” only available to participants in the myRA program. The bond pays virtually no income and is completely illiquid. The program is being billed as “no cost to the employer” and a “no-fee option” for the employee.

Just Another Looting & Other Global Governments To Follow

One of the odd features is that there is a lifetime cap of $15,000. If the balance exceeds that, the account has to be moved to another retirement plan. We can be assured that the cap will be removed once the program is universally adopted. The government needs the money. What could be better…a perpetual loan at no interest? It is also likely that the accounts will not be capable of being inherited like existing IRAs. The balance would just disappear at death.

We can understand the no-fee attribute, but all wage earners and employers should be afraid. The intention of the program will no doubt be to replace the existing array of retirement options, perhaps even forcing retirees down the road to convert existing accumulations into the program. This new model will be served up as being a favor and a benefit. In truth, it will be just another looting.

For a bankrupt government with obligations too massive to pay, the pool of nearly $20 trillion of retirement savings is too juicy not to make a run at it. As we have seen with health care, the elites believe that the average citizen is too stupid to make the right choices for their families. The same will be true on the path to retirement confiscations because only the governments and their crony financial institutions will be allowed to make the investment decisions. This control will serve to facilitate the theft, and you can be assured other global governments will follow the U.S. model of confiscation.

Today's Markets Plus A Wild & Dangerous 2015

If we turn our focus to the investment markets, they were mixed last week. The popular stock market indexes continue to push toward new highs after harrowing declines in the prior month. Energy related issues act like investors are betting that the decline in the price of oil is going to be short-term, even though the price of the commodity continues to be punished any time there appears to be a breakout. Too much political capital has been invested in crushing the price of oil down from triple digits to allow a rebound this soon.

But it feels as if there might be a sea change at hand in the gold market. Despite a rising dollar, gold has a positive bias to it. With year-end tax loss selling in progress, it is too early to know the trends for January, but there are hopeful signs that the metals, miners and energy will have a very strong 2015. Regardless, people should fasten their seat belts because 2015 promises to be a very wild and dangerous ride from both an investing and geopolitical perspective.

http://kingworldnews.com/exposed-dangerous-2015-ahead-global-governments-plan-steal-money/

[Sparky]

...
In mid-December, the U.S. Treasury finalized the rules for what looks like a fairly innocuous addition to the retirement plan menu, the so-called “myRA”. We say “finalized” with a wink as we all know that what has been promulgated is simply the proverbial camel nose under the tent. It looks benign and even positive, but the program clearly has the agenda of redirecting the retirement savings away from the current IRAs and other plans enjoyed as the primary savings vehicle for most Americans.

The target has to be the near $20 trillion of retirement assets in the United States. The final incarnation of this retirement model will most likely be adopted globally by other governments, so those living outside of the U.S. should pay heed as well….
...

The myRA regulations proposed by the Treasury call for participants to invest in a “non-marketable, electronic savings bond,” only available to participants in the myRA program. The bond pays virtually no income and is completely illiquid. The program is being billed as “no cost to the employer” and a “no-fee option” for the employee.
...

I understand the vulnerabilities in the system, but sometimes the doom-and-gloom story needs to be more self consistent in laying out doom scenarios. In this example, the creation of the myRA is certainly one more component of the ultimate systemic dislocation that lies ahead. But understand: This is an indicator that the disaster will not happen in 2015. The reason that the myRA is being offered is to delay the ultimate disaster. Disaster will occur when there is a lack of bond buyers. The myRA creates a whole new contingency of bond buyers which will serve to delay the event.

Know that the biggest strategy for delaying the inevitable pain is broadening immigration. Immigrants tend to be demographically younger. At first, it will introduce a lot more payers into the system that tend to need less health care (as a group) and social security and medicare. The aging of the initial wave of immigrants represents the ultimate disaster.

It takes a long time to sink a big ship, and the U.S. is the biggest ship in history. I expect 2015 will be a "down" year, mostly due to the instabilities going on in Europe and Japan. As I've said repeatedly, these are the two canaries in the coal mine. I think these two canaries will get very sick in 2015, but the impact in the U.S. will be be at worst like 2008. That's why the idea of bugging out of the U.S. seems so ill advised.

The first realistic scenario for systemic failure comes in 2020s, as dictated by demographics. The middle of the baby boom demographic was born in 1955. That group reaches medicare age in 2020. Perhaps they will change the rules to delay medicare benefits until age 67, which pushes the start of peak disaster out to 2022.

The timing could change if they allow a massive wave of immigration over the next few years. The median age of the immigrants is probably 25-30 years old. That would buy another 40 years in keeping this false game going, but that would require a massive influx of immigrants (~50 million) sufficient to make this big of a difference.

We live in interesting times.

[EE_]

I understand the vulnerabilities in the system, but sometimes the doom-and-gloom story needs to be more self consistent in laying out doom scenarios. In this example, the creation of the myRA is certainly one more component of the ultimate systemic dislocation that lies ahead. But understand: This is an indicator that the disaster will not happen in 2015. The reason that the myRA is being offered is to delay the ultimate disaster. Disaster will occur when there is a lack of bond buyers. The myRA creates a whole new contingency of bond buyers which will serve to delay the event.

Know that the biggest strategy for delaying the inevitable pain is broadening immigration. Immigrants tend to be demographically younger. At first, it will introduce a lot more payers into the system that tend to need less health care (as a group) and social security and medicare. The aging of the initial wave of immigrants represents the ultimate disaster.

It takes a long time to sink a big ship, and the U.S. is the biggest ship in history. I expect 2015 will be a "down" year, mostly due to the instabilities going on in Europe and Japan. As I've said repeatedly, these are the two canaries in the coal mine. I think these two canaries will get very sick in 2015, but the impact in the U.S. will be be at worst like 2008. That's why the idea of bugging out of the U.S. seems so ill advised.

The first realistic scenario for systemic failure comes in 2020s, as dictated by demographics. The middle of the baby boom demographic was born in 1955. That group reaches medicare age in 2020. Perhaps they will change the rules to delay medicare benefits until age 67, which pushes the start of peak disaster out to 2022.

The timing could change if they allow a massive wave of immigration over the next few years. The median age of the immigrants is probably 25-30 years old. That would buy another 40 years in keeping this false game going, but that would require a massive influx of immigrants (~50 million) sufficient to make this big of a difference.

We live in interesting times.

I agree they can buy a lot of time. I'm betting at least 20 more years.
After I croak, they can let er rip! It'll be someone elses problem.

[mick silver]

Global Governments Plan To Steal Money , does this mean higher taxes cost of food going up are price of fuel going to 5 bucks are are all of the above plus al gore gets his hot tax for us taking in air, nothing would shock me anymore

[Sparky]

Global Governments Plan To Steal Money , does this mean higher taxes cost of food going up are price of fuel going to 5 bucks are are all of the above plus al gore gets his hot tax for us taking in air, nothing would shock me anymore

Only half right. If governments are taking money from accounts, it means the availability and velocity of money are in short supply, and taxes will go up but prices go down. The inflation scenario happens if they don't steal money, because then they will have to create it instead. Then there will be plenty of diluted money to drive up prices.