Global Monetary System Headed for Collapse

[Jetstream]

This short article by Jim Rickards is well worth the read...

The world currency system is riding down the road to catastrophe, says James Rickards, senior managing director of Tangent Capital Partners.

The world already has entered a currency war that began in 2010 on the heels of the Federal Reserve’s massive easing program, he tells Wall Street Journal Digital Network. Since then, plenty of nations have joined in, including Brazil, Switzerland and Japan, says Rickards, author of “Currency Wars: The Making of the Next Global Crises.”

“All major central banks are easing,” he says. “Eventually so much money will be printed that this will lead to inflation. The endgame is collapse of the international monetary system — sometime sooner than later.”

Full article here:
http://www.moneynews.com/FinanceNew.../2013/02/06/id/489253?s=al&promo_code=125B7-1

 

[pmbug]

He's obviously a terrorist.

 

[ancona]

Weird stuff is definitely going on in the FX markets. I just looked at the US Dollar index at Kitco and it's making huge movements today in a very short period of time. You can find it quickly if you go to dollarCollapse.com and scroll down a little bit. Same-same with silver and gold. some entities are playing pretty hard lately, and I don't think it has anything to do with the Comex margin changes, since this has been going on since well before the change. It's like a war of attrition with these guys, and it doesn't look like it will end well at all.

 

[DSAbug]

Weird stuff is definitely going on in the FX markets. I just looked at the US Dollar index at Kitco and it's making huge movements today in a very short period of time. You can find it quickly if you go to dollarCollapse.com and scroll down a little bit. Same-same with silver and gold. some entities are playing pretty hard lately, and I don't think it has anything to do with the Comex margin changes, since this has been going on since well before the change. It's like a war of attrition with these guys, and it doesn't look like it will end well at all.

The yen had a move straight down 15% in a matter of a couple months. So yeah, currencies are really screwed up right now.

 

[ancona]

What do you make of this? It sure doesn't look normal to me.......more like manipulation.

 

[Unbeatable]

http://www.zerohedge.com/news/2013-02-08/venezuela-devalues-its-currency-32

Venezuela devalues currency by 46%

While the rest of the developed world is scrambling here and there, politely prodding its central bankers to destroy their relative currencies, here comes Venezuela and shows the banana republics of the developed world how it's done:

VENEZUELA DEVALUES FROM 4.30 TO 6.30 BOLIVARS

And that, ladies and gents of Caracas, is how you just lost 46% of your purchasing power, unless of course your money was in gold and silver, which just jumped by about 50%. Coming soon to every "developed" world banana republic near you.

BOOM! So happy to be in gold & silver

 

[pmbug]

Ouch. Chavez obviously isn't a team player in this globally planned central bank currency devaluation circus.

 

[DSAbug]

This is a HUGE story. Venezuela has the world's 33rd largest GDP..

Ofcourse, Japan having the 3rd largest and debasing by 15% in a few months hasn't caused alarm

 

[Unbeatable]

Currency war? Don't worry sheeple, it's just a currency party!

How low can we go?

Playing with fire is fun!

 

[Unbeatable]

Does this mean lots of people living in or investing in the other developing countries are going to rush into gold in case they follow suit?

 

[ancona]

So, clearly Chavez is dead now, because he was [is] a staunch supporter of the Bolivar and would never publicly devalue. I think he has been dead for some time now, and the party members are scrambling to put together a coalition or a strong candidate for the constitutionally mandated election which is mandated to take place. Chavez is likely no longer among the living, which poses problems for what is obviously a troubled movement in Venezuela. Ironically, it is the same thing going on here, minus the dead/dying president. We should be full on socialist within two years at the rate this 'tard is shooting executive orders out of his exhalted ass. Perhaps the mighty Mooch is even helping craft some of these insidious orders her fat assed self.

 

[DSAbug]

Does this mean lots of people living in or investing in the other developing countries are going to rush into gold in case they follow suit?

Well.. Some will....

The scary part about all this is that sooooo many people wont heed this as a sign of things to come...

 

[mike]

Max Keiser has been predicting, with 90% certainty, global fiat collapse by April.

 

[rblong2us]

Max Keiser has been predicting, with 90% certainty, global fiat collapse by April.

yeah

and with my help he was going to break the morgue in 2011
Im still down on the deal by about £10k

I like Max though and even though none of his alarmist 'sky is falling' predictions have come to pass yet, theres still time :wave:

 

[DoChenRollingBearing]

...

Well, guys (and gals), that's why we're all here! Even if there is only a 10% chance that something REALLY AWFUL could happen, 10% is a high enough probability that it is worth our whiles to take some precautions in case things go Hard South.

One other great thing about your forum, PMBug, is that the "Network Effect" has started to kick in nicely, we are now getting news on these topi9cs of interest to us pretty quickly now. Zero Hedge has something of interest up, BANG! it comes up here as well. And from many other sources too.

 

[mike]

yeah

and with my help he was going to break the morgue in 2011
Im still down on the deal by about £10k

I like Max though and even though none of his alarmist 'sky is falling' predictions have come to pass yet, theres still time :wave:

Yeah, Max is very accurate and intelligent on many points; however, he can blame the government for our problems, and in the same breath, say the solution is more government.

Anyway, I like to note of all these predictions for the historical records.

 

[pmbug]

Max is good theater, but his crystal ball is not better than anyone elses. Predictions should always be taken with a grain of salt (at least as far as timing goes).

I'd imagine that he has some pretty good contacts though. He may have better information than we do and you can always see better when you have more/better information.

 

[pmbug]

Venezuela still has problems:

http://www.zerohedge.com/news/2013-02-14/price-controls-coming-venezuela-next