Collapse is imminent…Everything Wrong in 2008 is Worse Today-James Rickards

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  Everything Wrong in 2008 is Worse Today-James Rickards

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Source: http://usawatchdog.com  

James Rickards wrote the best-seller titled “Currency Wars-The Making of the Next Financial Crisis.”  What’s going to cause the next crisis?  Rickards says, “The problem in 2008 was too-big-to-fail banks.  Well, those banks are now bigger.  Their derivative books are bigger.  In other words, everything that was wrong in 2008 is worse today.” Rickards goes on to warn, “The last time, in 2008 when the crisis started, the Fed’s balance sheet was $800 billion.  Today, the Fed’s balance sheet is $3.3 trillion and increasing at $1 trillion a year.”  Rickards contends, “You’re going to have a banking crisis worse than the last one because the banking system is bigger without the resources because the Fed is tapped out.”  As far as the Fed ending the money printing, Rickards predicts, “My view is they won’t.  The economy is fundamentally weak.  We have 50 million on food stamps, 24 million unemployed and 11 million on disability, and all these numbers are going up.”  When the subject of gold confiscation came up, Rickards said, “I just don’t think it will happen because the government will find it will be very hard to enforce.”  Join Greg Hunter as he goes One-on-One with Jim Rickards, the best-selling author of “Currency Wars.”

 

2 Responses to Collapse is imminent…Everything Wrong in 2008 is Worse Today-James Rickards

  1. Francisco Canales

    September 16, 2013 at 11:07 am

    The power of the Lord is working for our economic freedom and much larger forces will be with us to make people aware of it. This is now possible through the internet; this global awakening will result in the people of the world to work together to stop the greedy, lovers of money and the economic predators. The new revolution is to understand that we are all one united for humanity and justice for all.

  2. Francisco Canales

    September 16, 2013 at 10:47 am

    I’m worried for the future of my family, our community and our country, we are in complete denial of the coming economic collapse, because we were brainwashed by our government and the news media and made us believe that everything is wonderful and our economic is strong and stable. But the truth is that the economic tsunami that is coming ,will destroy our economic and take the whole world on its path of destruction. What is coming next is the stop of all welfare benefits, 100 million people depends of welfare from our government and when the handouts stop, most will turn to violence and will make things worse.

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