Central bank body warns of Great Depression
The Bank for International Settlements (BIS), the organisation that fosters cooperation between central banks, has warned that the credit crisis could lead world economies into a crash on a scale not seen since the 1930s.
In its latest quarterly report, the body points out that the Great Depression of the 1930s was not foreseen and that commentators on the financial turmoil, instigated by the US sub-prime mortgage crisis, may not have grasped the level of exposure that lies at its heart.
RBS Says Switch to Cash to Avoid 'Nasty' Selloff
The Royal Bank of Scotland issued a stark warning to investors Wednesday, stating global stock and credit markets could be on the verge of a steep market sell-off as central banks have their hands tied by soaring inflation, the Telegraph reported. "A very nasty period is soon to be upon us - be prepared," Bob Janjuah, credit strategist at RBS, told the UK daily paper.
Morgan Stanley warns of 'catastrophic event' as ECB fights Federal Reserve
The clash between the European Central Bank and the US Federal Reserve over monetary strategy is causing serious strains in the global financial system and could lead to a replay of Europe's exchange rate crisis in the 1990s, a team of bankers has warned.
Not many reports about these things in the American mainstream media, nor are they reporting much about the growing food crisis. How many Americans will be caught totally off guard when the depression hits? Most I think, and it is going to be a horribly ugly situation. So much information available today, right at our fingertips, and yet so many of the sheeple are oblivious to the real world. How very sad, as intellectual laziness will likely be the downfall of this country. Suicide by willful ignorance.
2 comments:
I was back in the Seattle area (where I'm from) working on a project for a little power utility co-op and hooked up with some friends that live there. I've always been seen as a little "out there" by my friends (Before me, they didn't understand how "at will" employees can fire their employers for no reason- they'd give two weeks notice!). Imagine my telling them how important growing your own food was going to become. Follow that up with my insistence on learning seed saving skills and root cellaring. With Monsanto, ADM, and others trying to own the right to plant reproduction (with the help of our own legal system!), we gotta get started. Phil
Monsanto is quite an outfit...the way they send thugs out to terrorize farmers over their genetically modified seed. Their goal, of course, is to dominate world wide food production, which they are well on the way to achieving. Our government has opened the door for them to begin selling and enforcing their patents in Iraq, and they are already active in several other countries. Scary stuff, especially with the tactics they are using here at home. Farmers describe their methods as gestapo or mafia style intimidation. But, of course, they have friends in high places.
We are using heritage seeds here, and we too are studying up on food storage and building root cellars....even before beginning work on permanent homes. I figure that living in a trailer for a bit is better than being unprepared when the grocery store shelves are bare.
You are right...it is time to get started, time is growing short and our politicians certainly won't be doing anything to help us...we are on our own.
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