 |
In the last five editions of Money and Markets, I’ve detailed how the United States has taken the same steps toward economic doomsday that have triggered Europe’s current financial nightmare:
First, Washington spent everything it could collect in taxes …
Second, it borrowed all it could from citizens and spent that as well …
Third, it borrowed even more from foreign governments, banks and investors and blew that, too …
Fourth, with the economy now slowing and tax revenues plunging, it has just called its own ability to pay into question …
And fifth, by burying the world in an avalanche of unbacked paper dollars, the U.S. Federal Reserve has declared war on the greenback’s value — and is stiffing the very investors we count on to continue loaning us money.
Now, a far more dangerous phase of this great crisis is beginning.
Barring a miracle in Washington, an historic, world-changing event is about to end the American way of life as we know it.
This monumental event will plunge vast numbers of families into the nightmare of poverty, homelessness and hunger.
In the worst case scenario, you will see soaring crime, the confiscation of property, the suspension of civil rights, and even martial law enforced by the U.S. military.
But while the vast majority of Americans will suffer, a select handful will use this crisis to build substantial wealth.
Our mission here at Money and Markets is to do everything in our power to see you through this crisis with your wealth intact. So be sure to stay tuned!
Best wishes,
Mike Larson
Mike Larson graduated from Boston University with a B.S. degree in Journalism and a B.A. degree in English in 1998, and went to work for Bankrate.com. There, he learned the mortgage and interest rates markets inside and out. Mike then joined Weiss Research in 2001. He is the editor of Safe Money Report. He is often quoted by the Washington Post, Reuters, Dow Jones Newswires, Orlando Sentinel, Palm Beach Post and Sun-Sentinel, and he has appeared on CNN, Bloomberg Television and CNBC.
{ 25 comments }
“So how much longer do you think you would continue buying and holding U.S. Treasuries? How much longer would you continue throwing good money after bad?
Do NOT miss tomorrow’s special edition of Money and Markets for the shocking answer!”
that was fridays lead in to saturdays report……..
Saturday’s report is a serious disappointment!
Mike- don’t lead us on like this again! You have done a GREAT disservice to MoneyAndMarkets by what appears to be a 5 day hype, leading to “the finale” on Saturday, only to have you repeat the same dire straits, and leave the cliff hanger as “so be sure to stay tuned!”
This is NOT a soap opera, and if things are as bad as you predict, why wait another day!!!!??? Why do we have to stay tuned?
Are we to continue to follow your thoughts, or are you selling something? If this is the end of the American way of life, how much are you going to charge to assist us? I hope Martin is not approving this!
“highest paying passengers to the life boats first”????
I do not own any stock as I have no money to invest. I read your articles every day so that I may have some understanding of what is coming down.
I read your article ‘Six Steps to Financial Doomsday: The Ultimate Financial Catastrophe’ with great interest but would take issue with you one one thing. You speak of a ‘worst case scenario’ as something which might happen in the future, I think it is already here.
How about a list of what the poor people needs to be doing now to live When the bottom falls out.. What to stock up on besides food and water. medicine . I have tried and tried to tell my children and others what is comeing and all they say is.. Oh well I’ll worry about it when it happens. Or.. Well if it’s my time to go so be it.. This country is full of stupid people. Why can’t they see what is about to slap them in the face…/?? Sheri Ps. Your sight also has vedio news parts to watch. My comp. doesn’y play that part any way you can have a print out of that part to. I am missing alot I’d like to read ,Can’t afford to put omp/ in for repairs.. Thanks.. also I have your book.
The congress is complicit with the crooks on Wall Street, both are corrupt and work in concert to make themselves richer at the expense of the general population and the good of the nation. That they can’t see what the end game is to their self aggrandizement and enrichment, and that should be a concern to every citizen. If they keep it up – all the riches they accumulate will only sustain them for a short time. When the nation is engulfed in poverty – a farmer who can grow food, and a carpenter who can build and repair homes will be a much more valuable than a broker or a senator who can only order expensive wine with dinner. Our elected officials have abrogated their oaths to serve and now only work for themselves and the bankers. However, the dolts are playing a zero sum game – where in the end they will lose out as well – they just can’t think that far down the road. They need to look to history and past crisis to see what is coming UNLESS, they study what Lincoln did when the central bankers wanted to charge him 36% interest to finance the Civil War. The fat cats are making a killing in Afghanistan and Iraq, while citizens go without jobs. Our furniture is manufactured in Vietnam and Slovenia instead of North Carolina. What needs to be done is to get Goldman Sachs out of the Treasury, and have the Treasury start printing and controlling the money supply. Lincoln took on the bankers and started printing the original Greenbacks – interest free to the government of the USA. We need to end the wars in the Middle East where we are lobbing 1.5 million a piece tomahawk missiles at our adversaries and take the savings to repay and retire the debt. Re-enact the Glass Stegall Act , hold the gangsters on Wall Street accountable and dismantle the Federal Reserve Bank. We can out source the war effort to the Israelis and provide support and special forces at a fraction of the present cost. Vote neither Republican nor Democratic vote for clear minded Independents, who aren’t going into government just to enrich themselves. We are responsible for putting these bozos in time after time. It may be too late, they have probably rigged all the voting machines by now anyway. Seriously we need to clean house and find capable candidates who are willing to serve the common good and not the special interest.s The best advice now would be for fervent prayer that good citizens will answer the call and fix the problems we are facing – soon it will be too late. Throw the money changers out of the Temple and put America back to work and back on the road to recovery and prosperity for all – not just the corrupt few in Washington and Wall Street. Up the Republic brothers and sisters – in your hearts you know what to do – now get on with it. Throw the bums out, don’t let one incumbent return to the halls of Congress, let us return to government by and for the people. God help us all – for we surely need Divine Intervention to thwart this corrupt cadre in Washington and on Wall Street. Greed is their Creed, not the Constitution.
Hello Manuel,
I propose the considered opinion that The Elite (the wealthy and world government leaders DO know what they are doing. There are numerous books on this subject describing the top Masonic leaders, Illuminati, Bilderbergers, Council on Foreign Relations, Trilateralists, etc. etc. There is too much smoke for there to be no fire behind the essential claims.
However, your statement about Divine Intervention is the key to the solution. If there is a Creator God who loves us He will also save the faithful and bring about His promise of heaven. But God warns us of a group of false heroes with a very “heroic” leader who will be able to deceive those who do not believe in Jesus Christ and His power to return in a miraculous way and overcome evil.
Read Daniel chs. 7-12; 2 Thessalonians 2, Matthew 24; and Rev. 6 &13 for an overview of the near future. Be ready for those who will deceive many people. Love all people, but defend the truth, and you will be saved from soul death – the death of the “essential you”, the second death rarely mentioned in church nowadays. See Rev. 2:11; 20:6&14; 21:8. This writing has been preserved for lovers of truth for many centuries by faithful Jews and Christians through God’s sovereign power.
May God bless your continued search for the truth which applies to all of us,
Phil
Why is Mike Larson projectile-vomiting all week long?
Gee…With the economic state of affairs of the United States I also currently have the urge to violently, with a projectile accuracy, regurgitate.
Now I have been correctly educated to the fact that the use of the word, why, in a statement, either denotes a whine or a criticism. Well I do not believe that you are whining about Mike Larson’s series.
But are you incorrectly criticizing Mike Larson for an insightful series? Or are you correctly criticizing the United States Government and the Central Banksters for putting the taxpayer in the sorry state of affairs that we are currently experiencing?
I am terribly sorry that Mike’s messages are not uplifting and rosy. But when I read financial advice I want a picture of REALITY. As a CAPITALIST I want to be able to protect and financially appreciate my small fortune into a larger fortune. The way that I do that is with REALITY, not some rosy picture that our lying Government and the Main Stream Media wants to promote as reality.
If you want that optimistic, rosy, FICTIONAL picture painted for you then you need not go any farther than your corporate owned newspaper’s financial section and read all of the opinion that the corporatists and Government bureaucrats want you to read. If you want a dose of sober REALITY then you’ll be able to read that here and on other websites of this caliber. And, finally, if I were you I would be buying up Gold and Silver as fast as you possibly can. This will help protect you from the massive hyperinflationary policies of the Federal Reserve Fractional (and Dysfunctional) Banking System. But your newspaper will tell you that it is too expensive and that it is a “Bubble Market” which it is not!!!
Sorry Mike. If the USA experiences confiscation of property, the suspension of civil rights and martial law, how will anyone “build substantial wealth†other than those in power? Perhaps we should join Dr. Weiss in Brazil?
Who or what owns the Federal Reserve Bank of New York?
Who are the majority stockholders of the Federal Reserve Bank of New York,
District #2, 33 Liberty Street, NY, NY, 10045?
United States of America will come out from this crisis for one simple reason- 10 000 tons of gold any moment permit to stabilize any time any moment – the rest are chicken games .
.This gold permits any moment stabilization those who don’t have gold in this amount will look old . the only difference is if they go out with one or two punches – but they will go out and depending on outcome they will be help to stabilize other regions .
Tea party in within independency, freedom liberty and peace is the winner movement-. People already don’t believe that it is a racist movement because of the contract Nazis on outskirts of the tea party movement which is like independent movement of German wall fall.
Dr. Ron Paul is the best option in together with libertarian authentic and warm miss Palin. Bachmann and Perry are tea party and eventually USA dividers on globalist pay list to harm amerika and to destabilize.
They don’t count.
losers are all those who infiltrate western liberties with false flag terrorists, invented osama bin laden alaisa tim osma, anwar al awlaki having invitation in pentagon, all those who nazi like with impertinency pushed for nwo and invented globalization to used bubbled up slavery marked to press on free world labor respecting economies.
Eventually in between this year and next year there will be civil unrest in usa, I count on retaken of federal reserve bank and either they go out there soft or hard core- they will go out there. The rest of the world is warmly invited to define where to stand- on side of desperate nwo Nazis who enslave us on order from fascist kings and 500 killer granddaddies who run eugenic programs l on the side of enslavement with debts poverty, controlled state and suffering – on the side of war and doing wrong.
Or as simple as that on side of independence declaration and freedom in within peace
Whoever takes to much time here for define
Will be in the losing game side
nwo is madness it is wrong- absolute power means absolute corruption. The days of end of cooperative bank fascism are counted
A a Hitler wish –and Hitler went down with it. I wish dr. Ron Paul my very best
And like Gandhi told –“truth does not change just because a few people are brave enough to speak upâ€.
Globalization is fascism and meant to be to make us slaves using old failed state ideologies to put all of us no matter where on the knees. Globalization is main reason for environmental destruction in consequence of long transports, faster uses of earth resources and contamination from oceans. Under logic perspective a return to home production independency of nations makes sense- under earth perspective it is illogic to transport in 10 years from now every product to somewhere else because of long transports and use of carbo fossiles. Peoples should be float from north to south and not only south to north but product float is not any longer in this magnitude in environmental buget of our planet
Gandhi was in a way a positive nationalist and outspoken war opponent and hitler enemy – promoting a pacifist anti fascist model of a society based on law and order, tolerance and respect to others. He spoke about “one world “ by respecting others , neighbors and rules of diplomacy but also defended independency and national identity of nations where home production is basement for freedom. In his time he started to make his own cloth and in Indian national flag it became symbol- “even when you have only one clothe made- use it with dignityâ€-
The problems of Gandhi – dependency of his country on other nations who did not even allow India in his time to make a needle without permission are very much alike with the dependency if America on foreign production- debts and production abroad converted Americans in debt slaves and as bitter as it is – they have to start to make their own cloth again. Well with 10 000 tons of gold in ford know they can take it easy and relax and the others will have to get used to it- it is not easy to put a tiger on the knees.
To be very confident about my statment and analyse
it won’t be possible
peace and
Freedom
Mike, if the USA experiences confiscation of property, the suspension of civil rights and martial law we’re in deep trouble. Under those conditions history suggests that only those in power will “build substantial wealthâ€. Should that happen, perhaps we should join Dr. Weiss in Brazil? Let’s hope you’re wrong.
What happens to the rest of the World – burn as well. Where does the world go from here. As America goes so does the rest of the world.
100% right Chuck under the above scenario no-one comes out Rosy – When their is blood on the street, well some of it could be yours – we all got families and friends.
This is NOT Mike Larson’s fault. He is just a messinger. We are entering into a World of Financial Hurt the likes of which few alive have experienced. Our country has made some very poor financial decisions over the past FORTY YEARS. The ones who put us on the path to Financial Armageddon have passed away. President Lyndon Johnson’s spending of unbacked Dollars during the Vietnam War caused Nixon to close the Gold Window. That was the beginnings of our Financial Calamity. I am amazed that we survived on fictitious money for over forty years. The Day of Reckoning approaches. This is NOT Mike Larson’s fault anymore than it is my fault.
Note on Vietnam: This was a Eisenhower, Kennedy, Johnson AND Nixon war. Nixon’s 1968 campaign promised to get us out of the war was a lie. First of many. Five more years of war. He killed about as many troops as Johnson did. He could have stopped the war. It was left to Ford to do. We lost anyway. Dropping us off the gold standard was the beginning of the end of the US economy.
We are also looking at banks exposed to hundreds of trillions of dollars in unregulated derivatives and part of a global market of around one quadrillion dollars. Unregulated derivatives not only caused the 2008 crash but is also the largest component of global money supply.
Drink your Ovaltine?
It’s a crummy commercial! Son of a ….!
Elisabeth’s comments reads like one of those spam e-mails that includes hundreds of unrelated phrases in an attempt to slip through spam filters. What is your point, Elisabeth? Until we hold investment bankers accountable for their products and actions, we will not get out of this hole they dug for us. And we let them keep the dirt.
So…WHERE IS THE SHOCKING ANSWER? Saturday’s report was a serious disappointment. It was like reading a novel then finding the last chaptermissing.
PIIGS, should it not be PIGGS or PIIGGS? The deficit of the UK is expected to be 9.6%, less then the US, but way more than Italy, in spite of berlusconi. The second G stands for Great Brittan.
We need 1,000 more Steve Jobs.
Not to mention Harry Truman.
Probably would be a good idea to hedge one’s bets and send some money and gold to banks that can be trusted outside of the U.S.
We are constantly reminded to invest in gold and silver as hedges against inflation, but mostly if the the US goes in default or the fiat dollar finally exhales its last breadth before the shit hits the fan on Wall Street and throughout the entire world. Well, I guess the only person who he going to help us is God himself. Very few people know that “some politician” already tacked onto Obama’s Health Care legislation a new statute that anyone purchasing gold from coin or buillion dealers has to under law, state to the coin dealer their name and the amount of their purchase. Remember when FDR made it a felony for any citizen to own gold. By law, he then stole gold from US citizens and it’s going to be as “easy as taking candy from a baby” when Obama uses the IRS to “hunt down WHO owns the gold and steal the gold from the US citizens because now …….it’s a law! AND if they have done it with gold….then you know that the same law that now demands the identity of each person who purchased gold will, in a matter of time, be applied to the purchases of silver as well! Reminds me of the Book of Revelations which states no body will be wanting/willing to purchase gold and silver and all the other items considered luxury items in our society of today! Like all the other comments ……nothing much can help us when the NWO/globalists decide to “pull the plug on the dollar”. And as Gerald Celente has commented over and over again…….When nothing else works and when Benarke et al have no more QE plans to “stimulate” the economy (nothing has worked yet!)……we will all (The American citizens) will be dragged off to war thanks to the globalists, bankers, NWO , Bilderburg, Illuminati etc