12 Signs That An Imminent Global Financial Crash Has Become Even More Likely

Economic Collapse ^ | 11 Aug 15 | Michael Snyder

[SkyPilot]

Did you see what just happened? The devaluation of the yuan by China triggered the largest one day drop for that currency in the modern era. This caused other global currencies to crash relative to the U.S. dollar, the price of oil hit a six year low, and stock markets all over the world were rattled. The Dow fell 212 points on Tuesday, and Apple stock plummeted another 5 percent. As we hurtle toward the absolutely critical months of September and October, the unraveling of the global financial system is beginning to accelerate. At this point, it is not going to take very much to push us into a full-blown worldwide financial crisis. The following are 12 signs that indicate that a global financial crash has become even more likely after the events of the past few days…

#1 The devaluation of the yuan on Tuesday took virtually the entire planet by surprise (and not in a good way). The following comes from Reuters…

China’s 2 percent devaluation of the yuan on Tuesday pushed the U.S. dollar higher and hit Wall Street and other global equity markets as it raised fears of a new round of currency wars and fed worries about slowing Chinese economic growth.

#2 One of the big reasons why China devalued the yuan was to try to boost exports. China’s exports declined 8.3 percent in July, and global trade overall is falling at a pace that we haven’t seen since the last recession.

#3 Now that the Chinese have devalued their currency, other nations that rely on exports are indicating that they might do the same thing. If you scan the big financial news sites, it seems like the term “currency war” is now being bandied about...

[SkyPilot]

The rest of the list in excerpt:

#4 This is the very first time that the 50 day moving average for the Dow has moved below the 200 day moving average in the last four years.

#5 The price of oil just closed at a brand new six year low.

#6 This week we learned that OPEC has been pumping more oil than we thought, and it is being projected that this could cause the price of oil to plunge into the 30s…

#7 Commodity prices that we are witnessing right now are eerily similar to what we witnessed just before the stock market crash of 2008.

#8 The South American debt crisis of 2015 continues to intensify.

#9 Just before the financial crisis of 2008, a surging U.S. dollar put an extraordinary amount of stress on emerging markets. Now that is happening again.

#10 The ratio of wholesale inventories to sales in the United States just hit the highest level since the last recession. What that means is that there is a whole lot of stuff sitting in warehouses out there that is waiting to be sold in an economy that is rapidly slowing down.

#11 The growth of consumer spending in the United States has just plummeted to multi-year lows.

#12 Deep inside, most of us can feel what is coming. According to Gallup, the number of Americans that believe that the economy is getting worse is almost 50 percent higher than the number of Americans that believe that the economy is getting better.

Related article:

8 Financial Experts That Are Warning That A Great Financial Crisis Is Imminent

[broken_arrow1]

Everything is going to be fine - Obama said so...

[EEGator]

The Economic Collapse Blog...

[SkyPilot]

Richard Russell – This Will Trigger The Start Of A Historic Bear Market That Will Destroy The Current Economic System

Governments around the world have been "printing" trillions upon trillions of currency units, and it will lead to a meltdown of the global economy.

The markets are not really markets anymore, and have not been markets for years. There is no longer any real price discovery, because of Fed pumping and manipulation.

There are no pure "investors" today either (in the context of what real investors used to be) - just people who are sucking the milk from the Central Bank's teats.

If there is no price discovery, you have no real markets. If you really wanted to jump through the rabbit hole, one could argue that the United States does not even have a real functioning economy.

We are nothing but a debt and welfare distribution mill, with 100 Million Americans not working.

I believe this crash will set up the foundation for a world economic system, and world government. When

[Recompennation]

The 2008 CRASH was heralded in headlines by the MSM to usher in their messiah p resident bho. We were doomed....
The fallout of 6 plus years of fun in the sun policy we’re still good yeah everything is great... Okayyyyy...,?

[SkyPilot]

Just remember, when reality hits you in the face, it is harder than you imagined.

Many people focus on "timing." In fact, that is what many money gamblers always focus upon.

In this case, I believe the timing was always less important than the magnitude of what is about to happen. They could have warned about this coming crash for 50 years instead of 5, and they still could not have been more prophetic.

However, even more so than the economic "experts" and their analysis, I see a Biblical truth behind why I believe we are headed for this crash.

God's Judgement, and His Timing, are always just and perfect.

https://www.youtube.com/watch?v=gGF8213KlL8

[IncPen]

Predicting this is fine, probably obvious maybe even helpful.

People want to know, “How do I protect myself?”

[Lake Living]

True enough but I think only people that own enough land and have access (by well, pond, lake, river) and who are either part time farmers or full time farmers. Raising your own food and your own animals (I know, I repeat myself) AND who live away from large cities, will be ok for awhile. I forgot one thing... and who own lots of guns and ammo. The rest of us will not do very well at all.

[Cowboy Bob]

I think that 2016 will be a bad year, and the democrats will be punished for it because their hero, Obama, is in the White House.

There will be a global crash, and there will be nothing the MSM can do to spin it in flavor of the Democrats.

[xzins]

#11 The growth of consumer spending in the United States has just plummeted to multi-year lows.

Obama's "part time job recovery" comes home to roost. You can't expect people making $8-$10 an hour to spend on much more than rent, utilities, and food.

If there's anything left over, it isn't going for cars, trucks, and high tech (except phones).

The middle class is also working hard to make ends meet.

The upper middle and upper can spend only so much....not in the numbers to really move an economy.

So, lying unemployment will rock this boat.

[SkyPilot]

Someone asked me that the other day, as if there was an easy answer to their individual situation.

The first and foremost advice I would give to anyone would be to get right with God, first.

If you have never given your heart to the Lord, and asked Christ to forgive you and to come into your life, you need to do that right away.

God protects His own, and He will protect you and yours if you belong to Him.

Should people withdraw all their money from IRAs and 401Ks, take the penalty, and put the money.......somewhere?

Again, it depends on you and your situation.

If they are looking for economic security 15, 20, 30 years down the line, I have to say I don't think we have that long. The little graphs your financial advisor sends you might as well be written with a comic book cover.

I also believe that in a real crash, the government will seize IRAs and 401Ks. They will be worth less by that time, of course, but the government will have to choose between theft of the IRAs/401Ks, and the takers rioting in the streets.

Whom do you think Obama will choose?

Right now, 80% of IRA/401K dividends go to the top 20% of income earners. We are not "Obama's people" and we better face that music.

If there is a real, deep, global crash, then banks will close, and all credit will be wiped out. That means, no debit cards or credit cards to pay for things.

In the immediate weeks following a crash, businesses, gas stations, doctor's offices will probably operate on a cash only basis. You should have some cash on hand.

If you go and start withdrawing a large sums every week from your bank, expect a visit from the FBI. That's how it works these days.

The Central Banks and almost every government are now clamoring for the elimination of all paper currency. I believe that will happen, so your paper cash will only have a limited shelf life in the long term. Gold and silver are great hedges to retain wealth, but only if they are in demand. Moreover, they will have some value to "barter" - but I would not put much faith in driving to some black market parking lot someday to trade shavings of gold bars and silver coins from my friendly fellow panicked citizens at 1 am in a trade for food, water, and medicine.

If the crash is initially deflationary, and then turns to hyperinflation (which many predict that it will), then people will be hit across the jaw and then the face. The first will wipe out businesses, commerce, and employment, and the second will enslave all but the elite.

In today's electronic world, they don't even have to wait for the paper to get into circulation. Therefore, the hyperinflation can accelerate at a terrifying rate. Think about it.

My advice would be to have some stored water, food, essential medicines, and alternate light and heat sources on hand that would last you a few days, hopefully a few weeks.

My prediction is that when it collapses, it will take awhile for the "reset" to happen, but in the time interlude before that happens, expect inner city EBT riots, welfare riots, panic, empty grocery shelves, and overall depression among the citizenry.

Have a means to keep your family safe, and pray to God for protection and guidance.

[gattaca]

bmp

[onona]

Anyone who decries the cost of oil being low as a bad thing is wrong

[trebb]

And the Book “1984” was out for years before it pretty much came true....

[Roman_War_Criminal]

Read this....

http://www.rightsidenews.com/us/economics/10-things-that-are-going-to-happen-within-15-days-of-the-end-of-the-shemitah/

[stevem]

#9 Just before the financial crisis of 2008, a surging U.S. dollar put an extraordinary amount of stress on emerging markets. Now that is happening again.

Since the entire Federal Government including the Federal Reserve is doing all in can to destroy the dollar, the fact this it is among the strongest currencies tells you how screwed up the world is.

#11 The growth of consumer spending in the United States has just plummeted to multi-year lows.

That's pretty hard to believe. Only 40% of the work force is unemployed.

[VRW Conspirator]

Obama’s fault!

[sefarkas]

#7 Commodity prices that we are witnessing right now are eerily similar to what we witnessed just before the stock market crash of 2008.

Price of the gold ETF during 2007-2009 (symbol GLD -- close enough proxy to actual gold price at the time; multiply each value by 10). Folks would fall all over themselves to buy an ounce of gold for less than $800 as was available Oct-Nov2008.

Date	Open	High	Low	Close	Avg Vol	Adj Close*
3-Aug-09	94.14	95.25	92.4	93	9,073,700	93
1-Jul-09	92.31	94.03	88.82	93.35	9,932,500	93.35
1-Jun-09	96.47	96.97	89.95	91.18	14,721,700	91.18
1-May-09	86.75	96.35	86.69	96.2	14,445,500	96.2
1-Apr-09	91.34	91.38	84.92	87.27	13,266,600	87.27
2-Mar-09	93.4	94.77	86.83	90.28	21,559,200	90.28
2-Feb-09	89.88	98.99	86	92.63	28,106,500	92.63
2-Jan-09	85.93	91.49	78.87	91.31	16,500,200	91.31
1-Dec-08	77.15	87.1	72.91	86.52	11,341,300	86.52
3-Nov-08	71.55	81.72	68.81	80.31	11,954,200	80.31
1-Oct-08	86.23	90.84	66	71.34	19,272,600	71.34
2-Sep-08	78.16	92	72.51	85.07	25,286,400	85.07
1-Aug-08	89.5	90.45	76.61	81.71	14,293,300	81.71
1-Jul-08	92.53	97.5	88.08	90.08	15,998,700	90.08
2-Jun-08	87.47	91.9	84.83	91.4	10,624,300	91.4
1-May-08	84.51	92.11	83.57	87.45	9,239,800	87.45
1-Apr-08	87.86	93.71	85.11	86.65	12,136,700	86.65
3-Mar-08	97.52	100.44	89.78	90.41	16,878,200	90.41
1-Feb-08	91.75	96.24	87.3	96.18	10,365,800	96.18
2-Jan-08	83.56	92.58	83.44	91.4	12,531,300	91.4
3-Dec-07	77.39	83.02	77.3	82.46	6,688,500	82.46
1-Nov-07	78.4	83.63	76.11	77.32	9,895,800	77.32
1-Oct-07	73.49	78.95	71.24	78.62	7,538,200	78.62
7-Sep-07	69.26	73.8	68.73	73.51	9,590,600	73.51

[Bulwyf]

Put your faith in Jesus, nothing else matters like that does.

[SisterK]

bfl