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Bigger Financial Meltdown Starts Before End of Yr-Doug Casey
On November ane, 2015 In Market Analysis
Greg Hunter'due south USAWatchdog.com (Early Sunday Release)
Acknowledged author and economic proficient Doug Casey says another financial meltdown worse than the final i is coming soon. Casey says, "I was saying in 2007 that nosotros were going into a gigantic fiscal hurricane. Information technology hit in 2008 and 2009. For the last few years, nosotros have been in the eye of the storm of this gigantic hurricane. Now, as nosotros speak, nosotros are entering the trailing edge of this hurricane, and it's going to exist much worse and much longer lasting and much dissimilar than what we saw in 2008 and 2009, and that was ugly."
Why will it be much worse than last time? Casey contends, "All these central bankers are doing the same stupid things. . . . The American cardinal banking company, the Europeans, Japanese and the Chinese have all printed trillions of new currency units and, yes, they are doing this in concert. They don't want to run into the markets collapse, just they are going to plummet, and the nature of this plummet is going to exist different considering they have created trillions and trillions of new currency units, and that has created bubbles all over the earth economic system."
On why it has taken and then long for the next crash to be created, Casey says, "Everything looks proficient until all all of a sudden it looks terribly bad. It's like when y'all spring off the Empire State Edifice. Everything is fine as you pass the 50th floor, but it all happens at once when yous hit the sidewalk. I think that'southward what we're looking at, and we're going to commencement hitting the sidewalk before the cease of the yr. This is very serious. This is the well-nigh serious thing since the 1930'south, and this may be the most serious since the industrial revolution overturned the previous basis of life."
On the new U.Southward. debt and upkeep deal, Casey says, "The just people who are happy about it are the height dogs and running dogs in and effectually government. When key banks create more money, some people get it before other people. The people who are hooked upwards in the deep country get information technology beginning. Eventually, it trickles down to people in Middle America, but at that place is non much left at that point. This is why the rich are getting richer. The rich guys get that money that is created first."
On troubled banks, Casey says, "These banks remember they have trillions of dollars of assets, but if people don't pay the loans, the depositors in the banks could exist very unhappy. Then the regime is going to bail them out by creating trillions of new dollars, and the dollar is going to lose all value. I don't see any way out. We are either going to take a catastrophic deflation where all these loans are defaulted on and banks have to close and the stock market place crashes and that'southward ugly and it'south a 1929 way depression, or nosotros the government reacts and prints so much money we cease upward with a 1923 fashion German hyperinflation. And then, we are caught between a rock and a hard place. . . . Peradventure they can wrench ane more bogus boom out of this cycle, merely I don't think then."
Casey besides says, "I think the depression has already started, and I phone call it the Greater Depression considering information technology'south going to dwarf what happened between 1929 and 1946. It's already started. We are just in the eye of the tempest, but we are leaving that at present. What should the average person do right now? You've got to liquidate right at present, while information technology'due south yet possible. You should get rid of things that you don't need . . . have a yard auction and get rid of stuff you don't need and generate cash for it. That'due south number 1. The average guy should buy aureate. Don't keep your savings in a banking concern. Store it in gold coins . . . or silverish coins . . . Silver is volatile simply has a much bigger upside than gold."
Bring together Greg Hunter every bit he goes One-on-I with Doug Casey of CaseyResearch.com.
(There is much more than in the video interview.)
Later on the Interview:
Doug Casey has some costless manufactures and information at CaseyResearch.com. Casey predicts his site volition grow at least three fold in the coming years considering people volition be scared and will not be able to notice reliable information in the mainstream financial printing. Casey says people are going to be searching for different and better information.
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About the Author
Greg Hunter
Greg is the producer and creator of USAWatchdog.com. The site'south slogan is "analyzing the news to give you lot a clear moving-picture show of what's really going on." The site will go along an middle on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years equally a network and investigative correspondent. He worked for ABC News and Expert Morning America for nearly 6 years. Near recently, Greg worked for CNN for shows such as Paula Zahn At present, American Morning and various CNN business organization shows.
Source: https://usawatchdog.com/bigger-financial-meltdown-starts-before-end-of-year-doug-casey/
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