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Peter Schiff: “China is Bleeding It’s Secret Account. Time to Panic!”
In the following video, Robert Williams of Wall Street Daily has Peter Schiff on as a guest, and Peter breaks down what is happening in the global economy that is leading up to what he calls “Financial Armageddon.” Peter Schiff was arguably the single best forecaster leading up to the 2008 financial crisis, which he predicted in excruciating detail TWO YEARS PRIOR to the actual crash in his best selling book, Crash Proof: How to Profit From the Coming Economic Collapse. What is absolutely astonishing, is that despite Peter’s pinpoint accuracy about when the economy was going to collapse back in 2008, and what was going to cause the crash, most people seem to be ignoring him once again, when he’s doing everything he can to warn people yet again.
As of February 6th, the United States topped over 100 MILLION Americans not working. Obama can talk about 4.9% unemployment all he wants, but at this point, contrary to the “Fiction Obama is Peddling,” unemployment rates in 36 states are HIGHER than they were just before the last recession hit in 2008, and that’s just the tip of the iceberg. For the first time ever, China is actually on pace to be contracting its position in U.S. Treasuries.
HELLO!?!?!
EARTH TO IGNORANT AMERICANS!
China is our biggest lender! In the first video below, Peter laughs when he says, “Americans are whistling past the mother of all graveyards.” Under Obama’s miserable excuse for a presidency, the national debt has gone from roughly $10 TRILLION since out country’s inception back in 1776, to $20 TRILLION at the end of his term, and we have nothing to show for it, because socialism DOES NOT WORK! Sooner or later, you always run out of other people’s money. With no one left to borrow from… Americans cannot even fathom what economic carnage is coming our way, and how every family will personally be affected.
China is Bleeding its Secret Account
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Understand something: The global economy is going to experience a global currency reset. If you have questions about what that is, or what that means, there is more information than you can possibly imagine contained in the links at the bottom of this post to support that statement. The global currency reset will be accompanied by a global depression, but unlike EVERY U.S. recession prior the coming “Great, Great, Great, Great Recession” we are heading into, the U.S. will no longer be able to print our way out and simply “monetize” the debt. The gig is up, and the proof is the fact that our lenders are cutting off our funding.
According to Peter Schiff, China’s mass capitulation of Treasuries threatens America’s empire. As Peter explains, we’ve already borrowed far more than we can EVER actually repay, and in under 4:00, Peter explains why the economic collapse for the U.S. is going to be “Economic Armageddon.” As a nation, we have followed in the footsteps of every other nation in history that has collapsed before us. Making matters worse, is that we’re infinitely bigger than most of them were, which means our crash is going to be infinitely worse. It is completely within the realm of possibilities that people will be “hurting” one another for food. Things could get THAT bad.
NOTE: The term “hurting” others for food, is a euphemism for killing others for food… for anyone not picking up on the gravity of the situation.
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After the interview with Peter Schiff is an article by Michael Snyder, another world class economist, who has been in lock step with Peter Schiff and Dr. Jim Willie for some time. In the article, Michael confirms everything Peter says, and backs up Peter’s position with the numbers to prove it. The interview contained in this post between Robert Williams of Wall Street Daily and Peter Schiff is a much shorter version of an Emergency Video Put Out by Peter Schiff on 2/29 Trying to Warn People That Financial Armageddon Is Utterly Inevitable. Peter didn’t choose those words lightly either.
In the past, television pundits have made fun of Peter calling him “Mr. Doom and Gloom” because he’s always been forecasting the economic crisis that is coming. I’ve listened to Peter for going on 10 years, and if you’ve listened to him as long as I have, then you know that going all the way back to his 2006 book, Peter has always said the economic devastation coming to America was not going to be from the collapse of the housing market in 2008… but rather it was always going to be the result of the steps taken by the U.S. government after the crash… aka the cheap money we’ve experienced with 0% interest rates for SEVEN years. What’s scary, is that unlike myself, Peter has always been an optimist, and believed we could solve the problems if we took them seriously. Does “Financial Armageddon” sound like they are still solvable?
FOR MAJOR INSIGHT INTO THE COLLAPSE CHECK OUT:
Dr. Willie and Peter Schiff Together: Total Currency Collapse and Reset Coming
Peter Schiff and Dr. Jim Willie Warn Investors About Timing Fed Market Rally
TIME TO STOP LISTENING TO ALL THOSE WHO HAVE CONSISTENTLY BEEN WRONG… AND START LISTENING TO SOMEONE WHO HAS CONSISTENTLY BEEN VERY ACCURATE.
I’VE INCLUDED THE FULL VERSION OF THE INTERVIEW WITH ROBERT WILLIAMS OF WALL STREET DAILY BELOW BECAUSE IT’S WELL WORTH HEARING!
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We haven’t seen numbers like these since the last global recession. I recently wrote about how global trade is imploding all over the planet, and the same thing is true when it comes to manufacturing. We just learned that manufacturing in China has now been contracting for seven months in a row, and as you will see below, U.S. manufacturing is facing “its toughest period since the global financial crisis”. Yes, global stocks have bounced back a bit after experiencing dramatic declines during January and the first part of February, and this is something that investors are very happy about. But that does not mean that the crisis is over. All bear markets have their ups and downs, and this one will not be any different. Meanwhile, the cold, hard economic numbers that keep coming in are absolutely screaming that a new global recession is here.
Just consider what is happening in China. Manufacturing activity continues to implode, and factories are shedding jobs at the fastest pace since the last financial crisis…
Chinese manufacturing suffered a seventh straight month of contraction in February.
China’s official Purchasing Managers’ Index (PMI) stood at 49.0 in February, down from the previous month’s reading of 49.4 and below the 50-point mark that separates growth from contraction on a monthly basis.
A private survey also showed China’s factories shed jobs at the fastest rate in seven years in February, raising doubts about the government’s ability to reduce industry overcapacity this year without triggering a sharp jump in unemployment.
For years, the expansion of the Chinese economy has helped fuel global economic growth. But now things have shifted dramatically.
PROTECT YOUR FAMILY BEFORE THE CRASH!
STOCK UP ON FOOD SUPPLIES WHILE THERE IS STILL TIME!
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At this point, things are already so bad that the Chinese government is admitting that millions of workers are going to lose their jobs at state-controlled industries in China…
China’s premier told visiting U.S. Treasury Secretary Jacob Lew on Monday his government is pressing ahead with painful reforms to shrink bloated coal and steel industries that are a drag on its slowing economy and ruled out devaluing its currency as a short-cut to boosting exports.
Premier Li Keqiang’s comments to Lew on Monday were in line with a joint declaration by financial officials from the Group of 20 biggest rich and developing economies who met over the weekend in Shanghai. They pledged to avoid devaluations to boost sagging trade and urged governments to speed up reforms to boost slowing global growth.
Across all state-controlled industries, as many as six million workers could be out of a job, with almost two million in the coal industry alone.
But it isn’t just China. Right now manufacturing activity is slowing down literally all over the planet, and this is exactly what we would expect to see if a new global recession had begun. The following chart and analysis come from Zero Hedge…
As the below table shows, 28 regions have reported so far. Seven saw improvements in their manufacturing sectors in February, twenty recorded a weakening, and India was unchanged. This means that over 70% of the world saw manufacturing sentiment deteriorate in February compared to January.
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In terms of actual expansion, there were 21 countries in positive territory and 7 in negative. In particular, Greece moved from neutral to contraction territory, while Taiwan dropped below breakeven from expansion.
Unfortunately, most Americans don’t really pay much attention to what is going on in the rest of the world. For most of us, what really matters is what is happening inside the good ole USA.
And of course the news is not good. There were more signs of trouble for U.S. manufacturing in the February numbers, and this continues a trend that stretches back well into last year. The following is what Chris Williamson, the chief economist at Markit, had to say about these numbers…
“The February data add to signs of distress in the US manufacturing economy. Production and order book growth continues to worsen, led by falling exports. Jobs are being added at a slower pace and output prices are dropping at a rate not seen since mid-2012.
“The deterioration in the manufacturing sector’s performance since mid-2014 has broadly tracked the dollar’s rise, which makes US goods more expensive in overseas markets and leads US consumers to favour cheaper imported goods.
“With other headwinds including the downturn in the oil sector, heightened uncertainty due to financial market volatility, global growth worries and growing concerns about the presidential election, it’s no surprise that the manufacturing sector is facing its toughest period since the global financial crisis.“
Over the past couple of decades, the U.S. economy has lost tens of thousands of manufacturing facilities. We desperately need a manufacturing renaissance – not another manufacturing decline.
As good paying manufacturing jobs have been shipped overseas, they have been replaced by low paying service jobs. As a result, the middle class is shrinking and the ranks of the poor are exploding.
It is hard to believe, but today more than 45 million Americans are on food stamps, and a significant percentage of those individuals actually have jobs. They are called “the working poor”, and it is becoming a major crisis in this nation.
And no matter what Obama may say, unemployment remains a major problem in the United States as well. At this point, unemployment rates in 36 states are higher than they were just before the last recession hit in 2008.
Of course a lot of people are going to look at this article and will point to the stock market gains of the past couple of weeks as evidence that “things are getting better”. It is this kind of clueless approach that is keeping the American people from coming together on solutions to our problems.
The truth is that the United States has been experiencing economic decline for decades. Our economic infrastructure has been gutted, the middle class is steadily deteriorating, and we have amassed the biggest pile of debt in the history of the world.
Anyone that believes that things are “just fine” is in a massive state of denial. Consuming far more wealth than we produce is not a formula for a sustainable economy, and it is just a matter of time before we find this out the hard way.
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FOR MORE GREAT MATERIAL FROM JIM WILLIE:
Dr. Jim Willie: We’re in the Bottom of the 9th; The US Dollar is Dying (2/28)
Dr. Jim Willie: Economic Collapse is On Our Doorstep
Jim Willie: “The Quickening” is Approaching Global Economic Markets
Jim Willie: When Deutsche Bank Fails, Barclays, Citigroup, and More Will Fall
Dr. Jim Willie and How To Simplify Your Finances To Survive Economic Collapse
Jim Willie: Global Banking Cabal and Their Satanic Rules Are Ready to Strike
Jim Willie: Both Our Allies and the American People Absolutely Hate Our Government
Jim Willie: U.S. Dollar is Now a Matter of National Security Due to Poor Decisions
Jim Willie: Armageddon Coming to U.S. With Trillions Exposed In Derivatives
Jim Willie, The Fed’s Week of Reckoning, and an Isolated United States
Jim Willie: After Banks Fail, Government Seizes IRA’s, 401k’s, and Pensions
Jim Willie, the Crumbling Global Economy, and the Dollar Crisis
Jim Willie: What Do the Oil Black Market, NATO, and ISIS Have in Common?
Jim Willie; One on One -Taking Questions On the Most Pressing Matters of the Day
Jim Willie: The Fed, Yellen, US Dollar, and Negative Interest Are a Joke!
Jim Willie Explains U.S. Nuclear Threats to China & Russia Over Challenging the Dollar
FOR MORE GREAT MATERIAL FROM PETER SCHIFF:
Peter Schiff: Newest Recession Hiding in Plain View; American Dream Is Dead
Peter Schiff: Dollar Collapse Will Be the Single Biggest Event In Human History
Peter Schiff: Federal Reserve Only Delaying Total Financial Collapse of U.S. Economy
Peter Schiff: Obama “Peddling Fiction” As Unemployed Tops 100 Million People
Peter Schiff: Recovery Fantasy Persists Despite Recession Evidence
Peter Schiff: Here Comes the Great, Great, Great, Great Recession!
Peter Schiff: “Whatever Obama Was Calling Recovery… is OVER!”
CNBC Actually Admits Peter Schiff Was Right… Again (Video)
Peter Schiff: Due to the Feds Antics, the Market is Very Dangerous Now
Peter Schiff and “If The Economy Is Fine, Why Are So Many Large Retailers Imploding?”
Peter Schiff: Take a Good Look at the “New” American Dream!
Peter Schiff and Reagan Advisor: Complete Economic Collapse Immediately Ahead
Peter Schiff: Warning! Economic Storm Clouds Ready to Rain
Peter Schiff: Death of the US Dollar Is Imminent; Fed Out of Options
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The financial meltdown has been on the way since 1958. It must be an extremely slow process. Plenty of time still to buy gold from Brother Hodges. I guess my question is that why when the economy is going to completely tank and paper money is not going to be any good anymore, why do all these guys want to trade their gold and silver for paper money? Can anyone explain this?
Ploy means deceive.
how did the word employment change its meaning’?
It didn’t.
Employee is the deceived
Employer is the deceiving
Words don’t change meanings
They are used or not used or altered never changed while intact
.but the root of the word has a meaning
Gay still means happy.
But is also adding sexuality today .
How did that happen
?
Who cares.
The powers that were are stealing our
language.
Let the hanging commence.
I’m not sure if it’s a joke or if you were just following queer trains of thought fancifully.
If you believe that words do not change meanings, then I don’t know how to inform you that “ploy” actually meant “anything with which one amuses oneself”, from Scottish and northern England dialect possibly shortening employ or deploy.
Employ, on the other hand, is simply Latin for “to enfold”.
I don´t believe in gold and silver. I believe in my potato patch.
Once the turmoil is in full blow, those above will confiscate precious metals.
And potatoes give an annual return of 1000% can be brewed (poitin) the skins can be used instead of bandages on burns and with the addition of a source of vitamin B can be eaten providing all the nutrients required for human survival.
Another plus is the likelihood of little theft from a field since most potential thieves believe food comes in tins and shrink wrap. By the time they adapt they would already have thinned out their numbers over the last can of Walmart beans.
Damn good thinking
REAP ALL THAT YOU SOW AMERICA
PAAAAAANICCCCC!
HAHAHAHAHAHA! you monkkeys dont know aboot panic! when the excrement reaches the camels bridle, and you struggle to claw your way upwards to the air, through the blood, bodies and faeces of your family and friends, and you run of of air, and your airway closes involuntarily, to stop the flood of slyk and etter that fills your nose eyes and mouth, then, just before you die under hoof, then you shall know panic.