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imminent collapse?

by Open-Publishing - Thursday 26 January 2006
9 comments

Economy-budget USA

can anyone provide me with a link to US Treasury Secretary Snow issuing a warning about an imminent collapse of the US economy? i can’t find it, if there is one. all the stuff i’ve read that he’s recently spoken regarding the economy is all roses and sunshine.

Forum posts

  • The link on Treasury Secretary Snow’s comments are at the bottom of the article you queried. Here is the link again:
     http://news.yahoo.com/s/afp/2005123...

  • Gee, could this be why they are not going to release the M3 figures anymore? Add to this, the Iranian bourse transition to Euros, and it’s a disturbing picture.

    As much as I dread such a collapse, it is, in the long run, the best for everyone involved. The question is, how long is that long-run?

    If the world calls in its US paper debts, and purges greenbacks from its currency reserve for financial reasons, but also to stop the madman in the WH. The Pentagon cannot contuinue it’s quest for world domination without borrowing 2.5 billion a day, so they have essentially pulled the plug on the war machine.

    Don’t expect them to do so willingly, though. They need the US to have the dough to buy their plastic junk and sweatshop items, so they aren’t about to do this out of righteousness. It will take a serious threat to their self-interest. Or a calculated strategy. China, for example, could survive a collapse of the dollar it it meant they would emerge the world power. Similarly, if anyone sniffs a collapse, they will be stepping all over each other to dump their treasuries, no one wants to be the last one standing when the music stops.

    I suspect that they are already quietly positioning themselves for just such an event.

    The question is what happens in the states?

    In one scenario, the feds attempt to avert a hemorrhage and monetize—they print money like crazy, resulting in pre-war Germany-style hyperinflation, domestic unrest, bank closures, home takings, riots, and ultimately, martial law.

    The rich, of course, will remain rich, because they will offshore their assets, and remain the ownership club, perhaps even more so as in the last depression, with massive property taking.

    At the same time, the neocons will have achieved their goal of destroying the welfare state and replacing it with a 19th centrury-style laissez-faire corporate kleptocracy (hell, they are half way there now). Whatever resources remain will be pumped into the militarism infrastructure and people will starve.

    A better solution is for there to be a world summit, with a basket of currencies (Yen, Dollar, Euro, Renminbi, Sterling, etc) set at a predetermined parity. Of course, there would still be a "collapse" of the dollar, as in Thailand, but the truth is the US would be better off in the long run. It would lead to better export import policy, and better wages.

    Either way, a lot of people will be getting hurt.

    • From 63.**.62.***
      In a sick manner, I tend to agree that a collapse of our economy and government might result in a clean slate. As you have stated, those in the know will escape with slight damages, while the rest of us will be like the citizens of the collapsed U.S.S.R.. Perhaps it is time to consider that passport application process, move our meager 401 investment program into a different currency and help my extended family plan a way to survive the onslought. Is Canada going to be able to house us? What about jobs? Or will we be fooled into going there only to watch them KopyKat George during the next twenty or so years?
      At least when the angry show up to burn my neighborhood, loot and randomly victimize to vent, I will be out of harms way.

    • ManyWhite will flee to Canada — and good riddance...

      Non-Whites, for their own safety and well being should either stay (moving into south U.S. for easier existence) or move south into Mexico. If the non-Whites move into Mexico, they should be polite and not act like how Whites act when they are in other countries.

      Things may settle down over 10 years or so after such an event and at that time the non-Whites (that is, non-White U.S. citizens) should rethinking if they want to live in the structures that the Whites has created... They will have a small window to rethink and possibly form other models of the U.S. society.

      Best of luck to all.

    • I don’t believe that I have the White-thing wrong... There are many, many, many White Ameicans who are connected at the hips with the Zionists... Falwell, Robertson to name a couple of well knowns. I assume, from the great followings that these peoples have that there are many who would follow over the clif...

      I can assure you that almost all of the Whites in my church side with the Zionists.

      Really, a better, more humane model of society can be formed with the richness of what America is... But it has to be given a chance and it looks as though it is not possible with the current model. There is too much viseral hate for Araba/Muslims/Non-whites of America and the world.

      The collapse, if it happens, may present that chance...

      Best luck to all kind and reasoned peoples...

  • The collapse is not yet around the corner! But if a natural desaster occurs in Japan, the U.S. banker number one would have to sell treasuries. Japan already sold its major Euro reserves. Now we see the Euro strengthen again.
    The fact that 2/3 of U.S. money is in foreign hands with a steady tendency is somewhat scary.

    • THE collapse is closer than you think. There will be no OFFICIAL warning. They will use US as long as they can and it is desirable for them and ONCE everything is accomplished the plug will go bananas.