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The potential for global collapse?


rhonda15

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Apr 22, 2008
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Société Générale tells clients how to prepare for potential 'global collapse'

Société Générale has advised clients to be ready for a possible "global economic collapse" over the next two years, mapping a strategy of defensive investments to avoid wealth destruction.

http://www.telegraph.co.uk/finance/economics/6599281/Societe-Generale-tells-clients-how-to-prepare-for-global-collapse.html

[ame="http://www.youtube.com/watch?v=eZA0qNsf4m0&videos="]YouTube- The Dollar Bubble[/ame]


I know the Soc Gen article has been posted before and while I'm not 100% sure what their angle is - the fact that they are putting this out there, I take it very seriously - the potential for global collapse is no longer merely a hypothetical it could happen.

The next two years will be decisive - my hunch is that there will either be a global collapse of sorts followed by war or another series of major financial shocks followed by a dollar default and perhaps the ushering in of a new global currency (or a variant thereof).

What do you guys think?
 


jelpor

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Until the working man joins hands at a global level, trancending race, and uniting against the capitatist robber baron pigs and their bourgeies puppets, we will get nowhere.
 

Cassandra Syndrome

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Good links Rhonda, read that report from the Societe Generale last week. First mainstream organisation that is taking this scenario seriously.

The financial system is all life support. It is being fed with morphine. In late September 2008 just after Congress in the US voted against the emergency TARP funds legislation, they were warned that unless the second draft was let through, that global financial system would crash the following day.

Idle threat? I do not think so. It only takes 5% flight of capital from the institutes around the globe at the same time to crash the system. It is too fragile.

We also have the 1.5 Quadrillion US Dollar derivatives market to contend with. All them digits flowing around the world's computer screens have to be called up on. Some cancel each other out , some more can be created like in double or quits terms. But if incomes are dropping people are being forced to liquidate their "assets" more and more, does the Fed just keep printing money to mop it all up? How can it balance the flow from going deflationary or inflationary?

Then we have the prime mortgage and commercial mortgage crisis unfolding in the States. A second financial tsunami is developing. Remember the adverse conditions given for the Stress Tests back in April results are already breached. So Bank of America, Citigroup and Wells Fargo / Wachovia are in the firing line. The FDIC is broke and thats before Swine Flu rampages.

Here is good clip of highlights from a 1981 film called Rollover that is about the global Financial system crashing in a 1 day type event.

[ame="http://www.youtube.com/watch?v=GPYLJoq_40Y"]YouTube- Rollover 1981... world economic collapse[/ame]
 

toughbutfair

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Until the working man joins hands at a global level, trancending race, and uniting against the capitatist robber baron pigs and their bourgeies puppets, we will get nowhere.
You sound like the guys in 1915 who thought in a future war a british baker would prefer to kill a british company owner than a german baker.

It is wrong - rightfully or wrongfully, national border and then religon are more important than"class"
 

Paddythai

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Aug 30, 2009
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Interesting topic.
I don't think these arguments would have been listened to a few years ago when everyone seemed to be enjoying their new found wealth.
Disccussions on the subject of financial collapse seems to be springing up on many web sites in Ireland and overseas.
 

eyeswideopen

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You sound like the guys in 1915 who thought in a future war a british baker would prefer to kill a british company owner than a german baker.

It is wrong - rightfully or wrongfully, national border and then religon are more important than"class"
By 1917, that's just what millions had decided in Russia, France and Germany.
 

rhonda15

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Just think of all the money that is about to be made.
The already very rich will make a pile - i don't see how the average joe will benefit from a collapse or near collapse
 

SevenStars

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Rhonda, you're a fierce man for the doom porn. Happy thanksgiving.
Doom Porn? Thats absolutely fab!

You will get postitive rep for that despite being a blue shirt!
 

mryoungdan

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Aug 26, 2009
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Do what the extreme rich do. They told Gordon Brown to sell the gold at 255 and he did. They bought and so did I.
 

dunno

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You sound like the guys in 1915 who thought in a future war a british baker would prefer to kill a british company owner than a german baker.

It is wrong - rightfully or wrongfully, national border and then religon are more important than"class"
Jelpor is a troll that Cyberianpan is running. It first appeared in a thread where he was looking silly. What better than someone sillier.

I suppose the report mentioned by OP, and the scenario it sketches might come to pass if the dollar begins an even steeper descent towards collapse. Personally I think there might be five more years of tepid growth, but who knows?
 

rhonda15

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[ame="http://www.youtube.com/watch?v=ei2vmjaXvD0&feature="]YouTube- The GOLD correction and being in a crowded room full of Bilderbergs.[/ame]

don't be fooled - i believe we are only at the beginning of a multi-year bull run for gold
 

stewiegriffin

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Feb 20, 2007
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The already very rich will make a pile - i don't see how the average joe will benefit from a collapse or near collapse
Its all about brinkmanship . The dance will always go on . It will never collapse because average joe is so damn terrified of 'change' . I actually cant think of a time in history when we werent threatened by ' near collapse '
Funny that . Yawn .
 

rhonda15

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