Catholic Info
Traditional Catholic Faith => The Greater Depression - Chapter I => Topic started by: Ladislaus on March 14, 2022, 06:03:08 PM
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So I didn't post about this earlier, but last Friday, my wife's uncle, who works in the Washington, DC area alerted our family that he knows a man who works in financial services and who has security clearance at the Pentagon, and that this man was telling everyone who would listen to get out of the stock market before next Wednesday. I thought nothing of this "Uncle Intel" until I saw an article today on CNN.
https://www.cnn.com/2022/03/14/investing/russia-economy-default/index.html
Russia has sent the clearest signal yet that it will soon default — the first time it will have failed to meet its foreign debt obligations since the Bolshevik revolution more than a century ago.
The default could come as early as Wednesday, when Moscow needs to hand over $117 million in interest payments on dollar-denominated government bonds, according to JPMorgan Chase. Although Russia has issued bonds that can be repaid in multiple currencies since 2018, these payments must be made in US dollars.
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"Russia has the money to service its debt, but cannot access it," she said during an interview on CBS' Face the Nation.
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But the potential consequences of a default are difficult to gauge. The 2008 global financial crisis and the coronavirus pandemic showed how negative shocks can spread across the modern interconnected global financial system and economy.
International banks are owed more than $121 billion by Russian entities, according to the Bank for International Settlements. European banks have over $84 billion total claims, with France, Italy and Austria the most exposed, and US banks owed $14.7 billion.
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But analysts at Capital Economics warned that one major financial institution might be particularly exposed to Russian debt, which could cause broader financial contagion. A second risk is that a default could trigger missed payments by Russian companies.
Vladimir Potanin, Russia's richest businessman, called last week for Moscow to ease restrictions on foreign currency so that interest could be paid on foreign bonds and loans. Otherwise, there was a risk the country could default on its entire external debt, which he estimated at about $480 billion.
Could this unnamed "major financial institution" be Bear Stearns 2.0?
Given the fragile state of the economy (caused by the Plandemic) and that Russia could just state that they won't pay back any of their debt, this could very well happen next Wednesday as this friend of my uncle indicated. Again, this man was reportedly telling everyone who would listen to get their money out of the stock market before next Wednesday.
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Also, India's working a deal to buy discounted oil from Russia with a rupee-ruble exchange:
https://www.cnn.com/2022/03/14/energy/india-russia-oil/index.html
India has not condemned the invasion of Ukraine and abstained from voting at the United Nations calling out Russia's aggression. Russia calls its actions in Ukraine a "special operation" to demilitarize and "denαzιfy" the country.
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India, which imports 80% of its oil needs, usually buys only about 2% to 3% from Russia. But with oil prices up 40% so far this year, the government is looking at increasing this if it can help reduce its rising energy bill.
"Russia is offering oil and other commodities at a heavy discount. We will be happy to take that," one of the Indian government officials said.
So, because oil prices have gone up so much, India (and probably others) are trying to cut deals with Russia to get their oil for a deep discount.
This could be the beginning of the end for the US dollar, which is propped up only by virtue of its "reserve currency" status.
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When the news of the US biolabs broke, the BRIIC countries represented most of the countries demanding an investigation.
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Thx for the info.
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Thx for the info.
You're welcome.
They've used extremely low (depressed) interest rates to dissuade people from saving and also from saving in traditional bank accounts. So the vast majority of Americans have their retirement plans stuck in stock-based 401Ks. That's done by design so that when the time comes they can wipe out the savings of most Americans.
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When the news of the US biolabs broke, the BRIIC countries represented most of the countries demanding an investigation.
Curiouser and curiouser :popcorn:
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I saw this (https://tinyurl.com/3v4ud4sc) yesterday on CNBC which I just happened to flip to for a second, which might lend some credence to the OP.
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They're crashing this economy, with no survivors!
(https://25.media.tumblr.com/95491133221051e05596cff82346d4ba/tumblr_mmtzp7hDUx1rcglgbo1_400.gif)
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You're welcome.
They've used extremely low (depressed) interest rates to dissuade people from saving and also from saving in traditional bank accounts. So the vast majority of Americans have their retirement plans stuck in stock-based 401Ks. That's done by design so that when the time comes they can wipe out the savings of most Americans.
Any retirement portfolio needs to be diversified --- "don't put all your eggs in one basket" --- and have a certain percentage in low-yield investments such as Treasurys --- with the level of risk you think you can endure. Someone who puts all of their 401(k) in high-yield, aggressive stocks can lose much of everything they ever worked for. Don't be that person. As a rule of thumb, the older you are, the less risky your portfolio should be. I've already gotten my hair mussed by the 25% I have in stocks, but it could be worse. Markets always trend upwards.
Of course, if all of this is a prelude to the Apocalypse, then all bets are off, but at the end of days, it wouldn't matter anymore.
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At 31, I've already accepted that I won't be seeing my retirement fund.
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So, has it happened yet?
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No, it hasn't started yet. Lots of articles about an impending Russian default on interest payments due today.
https://www.cnn.com/2022/03/16/investing/premarket-stocks-trading/index.html
https://www.cnn.com/2022/03/14/investing/russia-economy-default/index.html
Even if it doesn't happen today, it's just a matter of time.
We have lots of movement with countries moving away from the Petro Dollar (Dollar as Reserve Currency) ... so it's probably just a matter of time before the US Dollar collapses under the weight of $30 trillion in debt.
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Not yet but the day is still young.
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It's just a matter of time before the US econmy implodes. Fasten your seatbelts.
https://twitter.com/ChristoThurston/status/1500840524323999750
https://twitter.com/Jesse_Tradr/status/1499805268729012225
https://twitter.com/TheNewAmerica77/status/1500096164305289220
https://twitter.com/RebeccaTig/status/1498130733000536065
https://twitter.com/MakingMoneyFast/status/1499773616048807936
https://twitter.com/leeroden7/status/1500464984593207298
https://twitter.com/TomMapfumo/status/1499382930623373320
https://twitter.com/billyquaide2/status/1500932378881003520
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At 31, I've already accepted that I won't be seeing my retirement fund.
Yep, and I'm pretty sure, at 53, that I won't see a dime of social security or any retirement or pension.
Within weeks if not days, the US dollar will be collapsing hard.
Then the US will have to print more dollars to service its debt, and the hyper-inflation cycle begins.
That cushy standard of living we've gotten used to is toast, swirling down the toilet as we speak.
And it'll usher in the collapse of the global economy. China even depends on US consumers to keep its economy afloat.
This was by design to usher in their Great Reset and Build Back Better and a global currency.
Whole point of the Russian invasion, as I surmised from the beginning, was precisely to collapse the economy. This way they can blame Big Bad Putin instead of the real Jєωιѕн / Globhomo culprits engineering the whole thing. That is exactly why they demonized Putin so badly ... to make the charges stick and then people can channel their hostility regarding the economic collapse against Putin, instead of the Jews who actually orchestrated the whole thing.
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Just an idea....you might look into taking out a loan against your 401k plan (if you can't cash it out) through your employer. You have to pay back interest, at less than 5% and over a 4-5 year period. The best part?
1) the interest gets paid to your plan, so you're paying yourself. Win-win.
2) If you switch companies, your loan payments stop. Any unpaid amount is considered a distribution, which means it's treated at tax income (i.e. you've cashed it out).
3) If you think the stock market is going to go down in the future, you might as well use the cash now. Typically, a plan allows you to borrow near 50% of value, up to a certain amount.
Just an idea if anyone needs cash for prepping. I did this a year ago and it was a great choice. PM me with questions.
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The market closed with the Dow up over 500 points, for a 3-week high.
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The market closed with the Dow up over 500 points, for a 3-week high.
This. And the market has another 2 hours left of trading, iirc. Will something happen to the economy and the market eventually? Yes. This current imbroglio isn't feasible. It's a total house of cards. It probably won't happen this quick though.
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And the market has another 2 hours left of trading, iirc.
NYSE closes at 4pm Eastern. So... it was closed ~4 minutes before compline posted.
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The Jews' stock market any way you cut it. Hollywood, the banks of the banking, and the interplanetary "plunge protection team". The Jews.
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Yep, the guy missed the exact date, unless he meant people should get out BY Wednesday.
In any case, though, I doubt he was too far off. US dollar is now in its death throes.
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Money and the practice of medicine today are tricky business. Risky business. Even Tom Cruise, for example, a regular scientology idiot, and the doctors who still want to play golf know that.
But it's always good to have a word for the day, if not another dollar. Today, for myself and my dog and the cat at least, I think let's go a little Hebrew and say "rigged", or "mevuyam". מְבוּיָם
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These types of things are rarely correct and we, as Catholics, should put no weight in predictions. We are to love as though every day is our last yet prepare for our future.
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These types of things are rarely correct and we, as Catholics, should put no weight in predictions. We are to love as though every day is our last yet prepare for our future.
Thank you, but everyone here all knows that. Regardless, I'll give it another day, as he may have said to get out of the market BY next Wednesday inclusive. I wasn't there but heard this fourth hand from my wife, who heard it from her mother, who heard it from her brother, who spoke to the guy in question. Even if it happens within this week, I'll give it to him. Nevertheless, his target of Wednesday echoes the predictions made earlier this week that Russia could default.
https://twitter.com/ChristoThurston/status/1500840524323999750 (https://twitter.com/ChristoThurston/status/1500840524323999750)
https://twitter.com/Jesse_Tradr/status/1499805268729012225 (https://twitter.com/Jesse_Tradr/status/1499805268729012225)
https://twitter.com/TheNewAmerica77/status/1500096164305289220 (https://twitter.com/TheNewAmerica77/status/1500096164305289220)
https://twitter.com/RebeccaTig/status/1498130733000536065 (https://twitter.com/RebeccaTig/status/1498130733000536065)
https://twitter.com/MakingMoneyFast/status/1499773616048807936 (https://twitter.com/MakingMoneyFast/status/1499773616048807936)
https://twitter.com/leeroden7/status/1500464984593207298 (https://twitter.com/leeroden7/status/1500464984593207298)
https://twitter.com/TomMapfumo/status/1499382930623373320 (https://twitter.com/TomMapfumo/status/1499382930623373320)
https://twitter.com/billyquaide2/status/1500932378881003520 (https://twitter.com/billyquaide2/status/1500932378881003520)
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The collapse of the US economy, global economy and US Dollar is one of those things you don't HAVE to call dates on. You don't need to be a "fly on the wall" in secret meetings of the Elite to know what's coming.
It's simple mathematics. You can't have infinite growth in a finite world. And the current debt-money system requires INFINITE GROWTH OF DEBT. That's why each president smashes records of all presidents before him, on how much he borrows and "adds to the national debt". IT HAS TO BE THAT WAY otherwise the whole system would collapse.
It has nothing to do with presidents being less fiscally responsible or more fiscally responsible, democrat, or republican. It is the way the system works -- they HAVE NO CHOICE.
When the system starts going parabolic (LIKE IT IS RIGHT NOW), then watch out -- nothing can stop it. Nothing.
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In that same vein, our family was talking about how weather, war, sanctions, fertilizer & grain embargoes, and supply chain problems almost certainly indicate not just food price inflation, but genuine shortages.
One silver lining, similar circuмstances will make it impossible to produce batteries for those remotely-polluting-vehicles.
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Two stories:
Holders of Russian government dollar bonds with coupons due on Wednesday have not received confirmation of payment as of close of business in London, according to Reuters, raising fears that the Russian default we previewed last night – the first since 1998 – may happen once the 30 day grace period expires. (https://www.zerohedge.com/markets/russia-fails-pay-scheduled-interest-dollar-bonds-close-business-london)
Russia claims it has made bond interest payments but says it is up to the U.S. to make sure they go through amid fear of default. (https://www.forbes.com/sites/lisakim/2022/03/16/russia-claims-it-has-made-bond-interest-paymentsbut-says-up-to-us-to-make-sure-they-go-through-amid-fear-of-default/?sh=17c068d33893)
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At this point, the market is so manipulated and fake that what would *seem* like a fire alarm of an impending crash won't amount to anything if the manipulators don't want it to. In short, the market doesn't work like it should; it's not logical nor rational. So your friend might be right to point out a possible crisis scenario but he has to realize that a rigged game won't react as expected.
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At this point, the market is so manipulated and fake that what would *seem* like a fire alarm of an impending crash won't amount to anything if the manipulators don't want it to. In short, the market doesn't work like it should; it's not logical nor rational. So your friend might be right to point out a possible crisis scenario but he has to realize that a rigged game won't react as expected.
True. Yesterday it went up due to a hike in interest rates, which SHOULD make it go down.
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It's Thursday. Did it crash yet?
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Not yet but the day is young.
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It's Thursday. Did it crash yet?
That informatioin is available with a simple web search.
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That informatioin is available with a simple web search.
But according to another thread I can't trust search engine results. So I need CI to divine the answers for me :clown:
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No crash so far.
Is it possible that the prediction just might be wrong?
In my working days, I was kind of the investment "guru" for my office, and I always had to be careful to disclaim whatever advice I might give, lest I lead someone astray and get in trouble for not being a licensed financial adviser. (I never went for the various certifications.) It was basically simple working people who hadn't a clue about how markets work. I would often be asked "what do you think the markets are going to do?", and I would tell them that if I could predict that kind of thing, I wouldn't be working there, I'd be investing and making money hand over fist at it. No one has a crystal ball.
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Here's what it looked like at the close of the day, looking back a month before all of this started:
(https://i.imgur.com/NVuocg3.png)
Still, though, there can never be complacency where markets are involved.
Too bad we cannot have a world whose economy runs according to traditional Catholic social teachings, ownership distributed among the various strata of society and close to home, and then we wouldn't be at the mercy of all these market forces... and of those who make the decisions behind the scenes.
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On March 16, the market closed at 4357 (S&P 500). The latest close was 4488. That represents a rise of about 3%.
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On March 16, the market closed at 4357 (S&P 500). The latest close was 4488. That represents a rise of about 3%.
One reason why not to get your financial advice from CathInfo?
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One reason why not to get your financial advice from CathInfo?
Who was giving financial advice? I was merely passing on a rumor FWIWW.
They ARE going to crash the economy for their Great Reset ... it's just a question of when.
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Who was giving financial advice? I was merely passing on a rumor FWIWW.
They ARE going to crash the economy for their Great Reset ... it's just a question of when.
Just joking! Since we know it is going to happen, one of the predictions will be right!
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What do you suggest people to do? Yes obviously you can pull the money out from the stock market, but how about banks? And even if you turn all that into cash, you mentioned US dollars will become worthless, so what's your advice handling our wealth?
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What do you suggest people to do? Yes obviously you can pull the money out from the stock market, but how about banks? And even if you turn all that into cash, you mentioned US dollars will become worthless, so what's your advice handling our wealth?
There's been one potential cataclysmic event after another forecasted for as far back as I can remember, thankfully so far none have happened, yet. Not sure why none of them has happened yet, after all, each time things in the Church and world had gotten progressively worse, and each time "this time it's different because..."
All we can do is our best to first, stay on the right side of God, pray and receive the sacraments often, then have zero or as little debt as possible, and keep on hand as much necessities as you can. What else *can* be done in the case of impending cataclysmic doom when your money, if you can get to it, will be all but worthless?
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But according to another thread I can't trust search engine results. So I need CI to divine the answers for me :clown:
(https://i.imgur.com/fMYYdxi.png)
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Who was giving financial advice? I was merely passing on a rumor FWIWW.
They ARE going to crash the economy for their Great Reset ... it's just a question of when.
That might have been a better title.