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“When The Real Crash Comes It Will Be Worse Than the Great Depression” (Shortened)
SHTF Plan | 4/30/13 | Mac Slavo

Posted on 04/30/2013 3:08:21 AM PDT by Kartographer

The Crisis Is Imminent: “When The Real Crash Comes It Will Be Worse Than the Great Depression”

“The United States is like the Titanic, and I’m here with the lifeboat trying to get people to leave the ship… I see a real financial crisis coming for the United States.”

Peter Schiff August 2006

In 2006, when he faced off with many well known Titans of investing and warned of an impending financial disaster and economic collapse, Peter Schiff was laughed at by his colleagues. He urged Americans to exit financial markets and take steps to protect themselves before the wealth held in their savings accounts, retirement investments and real estate was wiped out.

Few listened.

We know what happened next.

Now, those same financial experts who publicly vilified Schiff for his predictions six years ago are at it again. Many, including our politicians, central bankers and leading economists, have unequivocally stated that the worst is behind us, and that a global recovery is on the horizon.

Once again, Peter Schiff disagrees:

“I think we are heading for a worse economic crisis than we had in 2007,” Schiff said. “You’re going to have a collapse in the dollar…a huge spike in interest rates… and our whole economy, which is built on the foundation of cheap money, is going to topple when you pull the rug out from under it.”

Schiff says that, despite “phony” signs of an economic recovery, the cancer destroying America stems from a lethal concoction of our $16 trillion federal debt and the Fed’s never ending money printing.

According to Schiff, these numbers are unsustainable. And the Fed has no credible “exit strategy.”

Eventually interest rates will rise… and when they do, Schiff says, stocks will tank and bonds dip to nothing. Massive new tax hikes will be imposed and programs and entitlements will be cut to the bone.

“The crisis is imminent,” Schiff said. ”I don’t think Obama is going to finish his second term without the bottom dropping out. And stock market investors are oblivious to the problems.”

“We’re broke, Schiff added. ”We owe trillions. Look at our budget deficit; look at the debt to GDP ratio, the unfunded liabilities. If we were in the Eurozone, they would kick us out.”

“The Fed knows that the U.S. economy is not recovering,” he noted. “It simply is being kept from collapse by artificially low interest rates and quantitative easing. As that support goes, the economy will implode.”

A noted economist, Schiff has been a fierce critic of the Fed and its policies for years. And his warnings have proven to be prophetic.

His recent warnings, however, have been even more alarming. Will they also prove to be true?

In his most recent book, “The Real Crash” How to Save Yourself and Your Country“, Schiff writes that when the “real crash” comes,” it will be worse than the Great Depression.

Unemployment will skyrocket, credit will dry up, and worse, the dollar will collapse completely, “wiping out all savings and sending consumer prices into the stratosphere.”

“All we can do now is prepare for the crash,” Schiff said. “If we brace ourselves properly and control the impact, we will survive it.”

Indeed.

We must understand that none of the fundamental problems leading up to the 2007/2008 financial crisis have been resolved.

If anything, it’s gotten worse.

Our politicians will not change, and therefore, will change nothing in Washington. Wall Street is as corrupt as ever. Our central bank continues to devalue our currency. There is no end in sight for these people. They will continue on this unsustainable path until we as a country finally hit the proverbial brick wall.

As Peter Schiff notes, the destruction to life as we know it in America and the world is imminent. It’s going to be severe.

So much so that the government has been simulating the collapse of our financial system, the collapse of our society and the potential for widespread violence.

A collapse happened in 2008, but THE collapse is still ahead.


TOPICS: Business/Economy; Government; Society
KEYWORDS: collapse; depression; economy; prepperedness; preppers; schiff; shtf
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To: headsonpikes

I feel like a fighter who will have to come back later after the first brave 300 have already died fighting to hold the ground.

But like in Spartan history the elders won’t condone any organized act of war, no they will just let 300 Spartans die first, seems like the same issue nowadays.

Tea Party will just allow 300 martyrs first before sending and army is my guess.


21 posted on 04/30/2013 4:22:12 AM PDT by Spartan302 (Spartans never quit, they come back later with more warriors.)
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To: Kartographer

Meh. From October of 2008:

http://www.freerepublic.com/focus/f-news/2117389/posts?page=13#13

a snip:


The world is a dangerous place, always on the edge of destabalization but kept in check by fear of superpowers.

I’ve been saying five things for the last year or two:
1. This thing could get as bad as, or worse than, the great depression (GD).
2. The GD ended with WWII.
3. The US is a form of worldwide empire with “colonies” like South Korea, Taiwan, India, Etc.
4. As the world economy collapses, countries like NK will be both desperate and emboldened to take military action against one of our colonies in near proximity. The result could actually ultimately end up with a hot war fought on US soil. I”m talking about the 50 states.
5. Somewhat related to the four but more domestic in scope, expect a serius (sic) uptick in domestic violence, divorce, murder and various other crimes.


He was wrong about the rioting, but he explains why later in post 20.


22 posted on 04/30/2013 4:23:47 AM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: Psalm 73
If we go down, the whole planet goes down with us. There will be no other place to "ride it out".

Correct. And, if you're not from there, they will rob and then kill you.

23 posted on 04/30/2013 4:26:41 AM PDT by MeneMeneTekelUpharsin (Freedom is the freedom to discipline yourself so others don't have to do it for you.)
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To: Psalm 73
"If we go down, the whole planet goes down with us. There will be no other place to "ride it out"."

Switzerland comes to mind. They have been riding it out for a long time. Of course, you need major assets to make a move to Switzerland to work.

24 posted on 04/30/2013 4:27:27 AM PDT by Truth29
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To: Kartographer

The Crisis Is Imminent: “When The Real Crash Comes It Will Be Worse Than the Great Depression”

“The United States is like the Titanic, and I’m here with the lifeboat trying to get people to leave the ship… I see a real financial crisis coming for the United States.”

Peter Schiff August 2006


He must be reading my posts because I’ve said both on numerous occassions. I don’t get into elections all that much because I see it as having captain and crew elections AFTER the ship has gone dead in the water and the water is now above C deck. They are an exercise in futility. My focus is on finding hammers and nails so I can make my family a lifeboat out of deck chairs.

I was just mentioning to someoen this weekend that one talking head said, a couple of hears ago, that these things always take longer to happen than those that see it coming think it will, but once it does happen it unfolds with a rapidity even they did not expect. Have you ever laid on the ground during a rainstorm and watched a raindrop come toward your head? It seems to cover the last foot a hundred times faster than the distance before it.

I’m already seeing it speed up. Even NPR’s in depth report yesterday about the fallout from obamacare was extremely gloomy. And yes, I think Obamacare could be the straw that broke the camels back, mainly because it’s really a bundle of rebar. Extra thick.


25 posted on 04/30/2013 4:29:41 AM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: Kartographer

“It’s not the fall that kills you; it’s the sudden stop at the end.”


26 posted on 04/30/2013 4:36:33 AM PDT by carriage_hill (AR-10s & AR-15s are the Muskets of the 21st Century. Free men need not ask permission.)
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To: carriage_hill

“programs and entitlements will be cut to the bone.”..

Might be a great place to start RIGHT NOW instead of waiting. Such action would certainly divert a significant part of the problem. Oh, never mind, that makes too much common sense.


27 posted on 04/30/2013 4:53:06 AM PDT by DaveA37 (I'm for HONEST government)
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To: DuncanWaring
Amen. I have no use for those who plan on turning chicken a** and running just when their nation and countrymen need them most.

Anyone who plans on leaving, don't come back. Guys like Duncan and I aren't going to look too kindly on those who have no stomach for the heavy lifting when the time comes.

Scouts Out! Cavalry Ho!

28 posted on 04/30/2013 4:53:37 AM PDT by wku man (We are the 53%! www.7161.com/streamer.cfm?dt_track_id=21356)
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To: Psalm 73

If we go down, the whole planet goes down with us. There will be no other place to “ride it out”.


Yep. It’s why I moved to my small farm in central KY in the spirit of Revelation 18:4

My personal opinion is that this will get VERY ugly. Worse than most people can imagine. However, I’ve also been amazed at how they can STILL kick the can down the road, though with each kick, the distance is shorter.

They are now printing almost an additional one trillion a year. That means that as you and I may reducing our debt, our government is borrowing, on our behalf, $3,300 per year for every member of your family.

And Interest rates are going nowhere. They can’t. They would put a knife to our economy in one day. It would be easier to eliminate welfare.


29 posted on 04/30/2013 4:58:54 AM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: Venturer
convert some of it to precious metals
not as an investment but as a wealth preserver
check out silver while you can still find it

Soros Rogers and Buffet are trying to talk down gold but
then, those guys can buy entire small nations and own their own farmlands river and mines

Meanwhile China is trying to own all the gold in the world
and every world government is trying to “repatriate”
its gold reserves

what do they know?

30 posted on 04/30/2013 5:04:32 AM PDT by silverleaf (Age Takes a Toll: Please Have Exact Change)
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To: headsonpikes

LOL!

Does your queen know this?


31 posted on 04/30/2013 5:05:30 AM PDT by silverleaf (Age Takes a Toll: Please Have Exact Change)
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To: carriage_hill

Now THAT is a tagline I might borrow!


32 posted on 04/30/2013 5:07:30 AM PDT by silverleaf (Age Takes a Toll: Please Have Exact Change)
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To: peyton randolph

correct-o

No one in America “owns” land, if you think you do, stop paying property taxes


33 posted on 04/30/2013 5:08:32 AM PDT by silverleaf (Age Takes a Toll: Please Have Exact Change)
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To: MeneMeneTekelUpharsin

Correct. And, if you’re not from there, they will rob and then kill you.


I think it will be a very bad time for expats.


34 posted on 04/30/2013 5:08:43 AM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: Truth29

the Swiss just decided to limit immigration

and they are all armed


35 posted on 04/30/2013 5:10:25 AM PDT by silverleaf (Age Takes a Toll: Please Have Exact Change)
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To: Progov

“programs and entitlements will be cut to the bone.”..

Might be a great place to start RIGHT NOW instead of waiting. Such action would certainly divert a significant part of the problem.


They can’t. The economy depends on that money now. Watch how many people use EBT at WalMart. What happens to the people at WalMart when all their EBT customers go away?

We’re in this fall to the “slap” of our body hitting the asphalt.


36 posted on 04/30/2013 5:10:35 AM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: Kartographer

This whole thing is like the joke about a man jumping off a 100 story building. As he passes the 10th floor, a guy yells out a window, “How’s it going?”. The jumper yells back, “So far, so good.”

We are the jumper and we just passed the 5th floor, and Obamacare is like the anvil Bugs Bunny hands his falling pursuer, causing rapid acceleration.

Yes. It’s gonna hurt.


37 posted on 04/30/2013 5:14:27 AM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: silverleaf; Spartan302

Um...

I was paraphrasing Spartan302’s expressed desire to get out of Dodge.

He later clarified his stance.

As regards our Queen, she knows a lot, although I doubt she lurks at FR.


38 posted on 04/30/2013 5:14:51 AM PDT by headsonpikes (Mass murder and cannibalism are the twin sacraments of socialism - "Who-whom?"-Lenin)
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To: silverleaf

Help yourself:

http://www.freerepublic.com/~carriagehill/


39 posted on 04/30/2013 5:15:50 AM PDT by carriage_hill (AR-10s & AR-15s are the Muskets of the 21st Century. Free men need not ask permission.)
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To: Spartan302
Tea Party will just allow 300 martyrs first before sending and army is my guess.

Strange statement. The Tea Party is not Top Down. Never will be. Sounds like you don't like the Tea Party. That is a bit strange here.

40 posted on 04/30/2013 5:16:13 AM PDT by Texas Fossil
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