We maybe only ONE crisis away from an economic Armageddon.
Is the final crisis NOW working itself out?
Will the collapse of the Japanese economy trigger a TOTAL world monetary collapse?
Is the final crisis NOW working itself out?
Will the collapse of the Japanese economy trigger a TOTAL world monetary collapse?
Thalif Deen reports that the UN Secretary General has expressed grave concerns about the ultimate effects of trade deregulation and globalisation:
UN Secretary-General Kofi Annan Sunday told a gathering of world economic and political leaders that unrestricted and unregulated globalization can lead to unmitigated disaster worldwide.
The average citizen has no idea that the world economy is tilting outwards on a precipice and that a gigantic collapse of the economy unrivalled in world history is an absolute certainty. Who wants to be told that the world monetary system is a heartbeat away from total collapse? But Bible prophecy is being fulfilled. The timing of a world depression may be determined in Japan.
The Japanese economy is so huge it represents the cornerstone of the world’s economy. When it goes kaput, as it inevitably will, and soon, every economy on the planet will collapse with it.
According to a BBC news bulletin dated February 2 2002,
The Japanese economy is stagnating and there is no evidence things are going to get any better The chairman of the Sony Corporation, Norio Ohga, has warned that the Japanese economy is close to collapse and could trigger a world recession. Mr Ohga told a news conference the economy is facing its most difficult time ever and could enter a long spiral of deflation. "The Japanese economy is on the verge of collapsing and could trigger a world recession. The Japanese Central Bank released a survey showing that Japanese executives were pessimistic about the country's prospects. " [34]
C Fred Bergsten, director of the Institute for International Economics USA stated "The situation is getting worse. … Japan should declare a bank holiday - shut down the banking system - and close about half of the banks, because half of the banking system is insolvent.”
In an ABC news release dated March 8 2002 reporter Mark Simkin stated,
Japan … remains mired in one of its worst recessions. Figures out today, show a third successive quarter of economic decline Japan's GDP contracting by over 1 per cent in the last three months of last year. All this is putting enormous pressure on the country's banking system and stoking fears of a major financial crisis in the world's second largest economy. Japan remains mired in one of its worst recessions. … We are one step away from a crisis. It's a mess. …. On April 1, [2002] the government will stop guaranteeing many bank deposits. There's a risk nervous customers will withdraw all their money, putting enormous pressure on a financial system some believe is already technically insolvent.[35]
Bernard Lietaer points out that that not merely the economy but the monetary system itself is heading for a massive crash. We may be approaching the used-by-date of the U.S. dollar.
'The biggest concern today is the growing constituency for instability.' [says] Paul Volcker, ex-governor of the Federal Reserve, in Changing Fortunes. 'Instability is cumulative, so that the eventual breakdown of freely floating exchanges is ensured', [said] George Soros, the largest currency speculator today, in The Alchemy of Finance. They both agree that there are many more people now who have an interest in profiting from instability; previously, they had an interest in stability. If you have an unstable system, it is just a question of when it will fly off the handle. It will blow apart at the moment when the US dollar experiences a crisis. When the dollar crisis occurs, the world will have no system left. [36] .......(By Victor Christensen)
UN Secretary-General Kofi Annan Sunday told a gathering of world economic and political leaders that unrestricted and unregulated globalization can lead to unmitigated disaster worldwide.
The average citizen has no idea that the world economy is tilting outwards on a precipice and that a gigantic collapse of the economy unrivalled in world history is an absolute certainty. Who wants to be told that the world monetary system is a heartbeat away from total collapse? But Bible prophecy is being fulfilled. The timing of a world depression may be determined in Japan.
The Japanese economy is so huge it represents the cornerstone of the world’s economy. When it goes kaput, as it inevitably will, and soon, every economy on the planet will collapse with it.
According to a BBC news bulletin dated February 2 2002,
The Japanese economy is stagnating and there is no evidence things are going to get any better The chairman of the Sony Corporation, Norio Ohga, has warned that the Japanese economy is close to collapse and could trigger a world recession. Mr Ohga told a news conference the economy is facing its most difficult time ever and could enter a long spiral of deflation. "The Japanese economy is on the verge of collapsing and could trigger a world recession. The Japanese Central Bank released a survey showing that Japanese executives were pessimistic about the country's prospects. " [34]
C Fred Bergsten, director of the Institute for International Economics USA stated "The situation is getting worse. … Japan should declare a bank holiday - shut down the banking system - and close about half of the banks, because half of the banking system is insolvent.”
In an ABC news release dated March 8 2002 reporter Mark Simkin stated,
Japan … remains mired in one of its worst recessions. Figures out today, show a third successive quarter of economic decline Japan's GDP contracting by over 1 per cent in the last three months of last year. All this is putting enormous pressure on the country's banking system and stoking fears of a major financial crisis in the world's second largest economy. Japan remains mired in one of its worst recessions. … We are one step away from a crisis. It's a mess. …. On April 1, [2002] the government will stop guaranteeing many bank deposits. There's a risk nervous customers will withdraw all their money, putting enormous pressure on a financial system some believe is already technically insolvent.[35]
Bernard Lietaer points out that that not merely the economy but the monetary system itself is heading for a massive crash. We may be approaching the used-by-date of the U.S. dollar.
'The biggest concern today is the growing constituency for instability.' [says] Paul Volcker, ex-governor of the Federal Reserve, in Changing Fortunes. 'Instability is cumulative, so that the eventual breakdown of freely floating exchanges is ensured', [said] George Soros, the largest currency speculator today, in The Alchemy of Finance. They both agree that there are many more people now who have an interest in profiting from instability; previously, they had an interest in stability. If you have an unstable system, it is just a question of when it will fly off the handle. It will blow apart at the moment when the US dollar experiences a crisis. When the dollar crisis occurs, the world will have no system left. [36] .......(By Victor Christensen)
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