In this interview Dr Paul Craig Roberts spells out the economic disaster which looms over us.
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2014/8/2_Dr._Paul_Craig_Roberts.html

Since 2006 US Corporations have borrowed and spent $4.1 trillion on propping up their shares through buy backs.Add into the mix, individuals and pension funds using cheap money to inflate the bubble. Real unemployment is over 20% and the 4% growth is a lie.

Since 2000 US households have lost 36% of their wealth.50 million people are on food stamps of which half work.

The US Federal Reserve now has $4.4 trillion on its balance sheet which is 5.5 times pre-financial crisis. Most of this money has been spent on propping up the too big the fail banks. They have just made the problems worse with no Glass Steagall Act as they had in the Great Depression to protect people's assets from predatory Corporations.

Argentina has just defaulted on its debt and other countries will likely follow suit.

Global GDP is $70 trillion with the derivative gambling market over 28 times this amount and no one knows how badly this will all end.

Nothing like this scenario has happened before in our history and it is global. As Dr Roberts says, "The world has gone insane."

Some may say Corporates are insane buying their own shares. What they're buying is time. Most also play the derivative game of betting against their own shares going up or down. They are in fact looting their own companies knowing full well it is all going to come crashing down.

So they pay themselves huge salaries and bonuses on the inflated value of their companies.

Now you know why the banks are pushing for "Bail Ins" so they can steal the little money you will have after the crap hits the fan.

TOO big to fail.

TOO big to jail.

Yes Philip s,that is their plan.http://www.cecaust.com.au/ Sign the petition to stop "bail in" by bringing in a Glass Steagall Act they had before 1999.We did not need it because we owned the Commonwealth Bank.Now we do.They want to finalise this at the next G20 meeting.

The CEC have sent letters to every Politician and senior Public Servant, so ignorance is no excuse. They will try to pass "Bail in" with other legislation.

Hello Arjay,

Nice to see a fellow contributor who acknowledges the mess the world financial system is in.

I have been a follower of the likes of Dr Paul Roberts for some time together with men like Eric Sprott, Gerald Celente, Nigel Farage, Marc Faber, Stephen Leeb, Andrew Maguire et al, who all appear from time to time on Russia Today and web sites like King World News. These are all people with great financial credentials all singing from the same song book, but rarely quoted in the main-stream press.

The majority of the population are more interested in celebrities and sport, and unfortunately that's what sells newspapers, so their ignorance of the world financial affairs often astounds me.

Two books by James Rickards "Currency Wars" and "The Death of Money" are well worth reading together with "flash Boys" by Michael Lewis that describes the mechanics and high speed trading and manipulation of the derivatives market with computer algorithms. The likes of JPM and HSBC control well over 60% of the silver derivatives market for instance and JP Morgan own over 60% of the gold derivatives. No wonder they can illegally control the market…..but then they are the Federal Reserve bankers ! As Warren Buffett once said "derivatives are financial weapons of mass destruction"

The CFTC recently said there was no untoward illegal trading by the banks after a 4 year enquiry (!) even though just two banks alone exceed their position limits on the COMEX using naked shorts. All documented by GATA.

Enough already !

Arjay, said;
The CEC have sent letters to every Politician

What is the CEC ?
The major oil companies have increased their expenditure on search
and development by more than double over the last five years or so but
their increase in reserves has gone down.
They have literally been throwing good money after bad.
Because of this they have been selling assets just to be able to pay dividends.
You might have noticed that Shell is selling out of Woodside's NW shelf
developments. It is all part of what your post was about.

Oil company sales are down in both volume and dollar values so that
is rather a strong blow of a straw in a strong wind.
Indications are still quite strong for a 2017 turning point.

Just saw a presentation that re-inforced what I was writing in my post.

http://www.resilience.org/stories/2014-08-04/energy-the-financial-system-presentation

It was givn at an Energy conference.

Yes Snake, most have not a clue how it all works and I don't think they will question the system until it is too late. MSM is nothing but a litany of lies. As Dr Roberts says, it is amazing how they've managed to prop the system up so long. It is all based on faith and when we all stop dreaming the same dream,the nightmares begin.

If this was a gay marriage topic debate would be running hot. Even a lot of intelligent people believe in this system. Greg Hunters USA Watch Dog is another good site.http://usawatchdog.com/the-chaos-is-planned-rob-kirby/

We have no leaders that we can put our faith in. I think this is the real reason why George Brandis wants additional powers to shut down whistle blowers.

Bazz, the CEC http://www.cecaust.com.au is the Citizens Electoral Council. They are the only serious group who are creating awareness and offer solutions. A few months ago they put a full page add in the Australian about "bail in".

This is another link for you Arjay which is further confirmation that we live in interesting financial times. Being an aficionado of KWN you may have already seen it.

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/8/5_Embry_-_The_Most_Dangerous_%26_Frightening_Period_In_History.html

Interesting that Heath Ledger appears on your link Snake. Randy Quaid thinks he was wacked,along with many other celebrities by people of evil intent who want to steal their fortunes. https://www.youtube.com/watch?v=zr7pwUFb4lE

Heath Ledger ?

The youtube link did not work for some reason. Yes Heath Ledger wacked.
http://www.smh.com.au/lifestyle/celebrity/ledger-was-whacked-by-criminals-quaid-20101029-17715.html

Oh gawd here we go again, another amateur, armchair Doomsday merchant in Arjay.

If you look hard enough, you will find that over the past 50 years there's many professional, financial "experts" to be found, EVERY WEEK, in good times and bad, who predict financial and stock market Doomsday. They are the prophets of the secular world, and just like the crazy biblical prophecies, real Doomsday NEVER happens.

About every 15 years or so there's a major stock market decline. Now if enough Doomsday merchants keep repeating their mantra for long enough, of COURSE they will EVENTUALLY make, by coincidence, a doom prediction just before an upcoming crash. And the amateur armchair Doomsday merchants like Arjay and co, will look upon them as financial Demigods who got it right. It's laughable.

Folks, Doomsday is not upon us. These religious style financial prophecies will not come true. Doomsday is only for the "believers".

Folks, have fun, invest, sometimes you'll win and sometimes you'll lose. Doomsday is not upon us.

Jay123,Would you care to refute the evidence based on the statistics ? This will be no ordinary market correction.

[This person is a sock puppet who has been barred from the forum for offensive behaviour. If anyone notices someone like this turning-up again can you please notify me? Their previous persona was Jay123. Thanks, GrahamY]

Jay123 there are many who predicted the 2007 crash who say that was just the warm up. The too big to fail banks were just bailed out and the bankers have plans to "bail in" to our savings like Cyprus.

If the system is so stable; Why do they need legislation to steal our bank deposits? http://www.cecaust.com.au/

Ho Hum, the GFC was predicted back in 1956 except he was out by five years.
Every recession is preceded by a spike in oil prices.

Energy IS the economy Stupid !

Bazz they all believe the market BS. My house has gone up in market value by $500,000 in just two yrs. This is not a reflection of real productive capacity of our economy, but money printing by the banks.Add into the mix Corps borrowing to buy their own shares, derivatives many times our GDP and Govt debt of record amounts, we have a perfect storm for a monumental collapse.

Arjay and Jay123 the problem is you are only looking at money.
As I have said many times previously, money is a second level, it is
not the fundamental basis of everything we do.

Money is a tool to exchange energy and the products of energy.
Yes Jay123, 2008 was just a practice run.
It was predicted in detail in Kenneth Deffreyes book Beyond Oil.
He predicted that crude oil production peak would occur in December 2005. He was one week out.
He predicted that in the following two or three years the price of oil
would rise very high and cause a financial crash.
It would then crash to a low level.
He further predicted that the oil price would recover but remain at a
high price for a period on a bumpy plateau and then the peak and crash
cycle would repeat when supply got tight again.
This oscillation would probably repeat, perhaps several times, and
then finally stay crashed permanently.

You have probably heard of Hubbard's curve, well Deffreyes worked with
Hubbard and he did more work on the curve mathematics and changed the
shape of the curve somewhat.
He is a Professor of Geology at Princeton University and an oilfield engineer.

The advent of horizontal drilling and fracking in the source rock
has put a delay into the process but that is all it is, a delay of
about ten years until the relentless decline of the super giants
and giants overwhelms the high cost tight wells.

The world had a once only ten year opportunity to mitigate the effect
of the peaking of oil production.

We did not take it up.

[This person is a sock puppet who has been barred from the forum for offensive behaviour. If anyone notices someone like this turning-up again can you please notify me? Their previous persona was Jay123. Thanks, GrahamY]

Sorry what you just wrote is utter nonsense.
Deffreyes and others CALCULATED what happened.
It is arithmetic and not very complicated maths than that.
Coincidence has no part in it.
The age of the worlds wells is known, the decline rate is known, the
history of production is known, the rate of new wells coming on line is
known, the resources are known.
Why don't you gather the data and calculate it yourself ?
I checked the data to confirm the story that a new Saudi Arabia has to
be discovered every three years just to maintain current production.
I am no mathematician either, bit of a duffer there.

Coincidence is nowhere in sight.

Right; yes well likewise, but if you take what Arjay says then you are
out of the pot and into the kettle.

The problem with banks is the IMF/G20 Financial Stability Board.
If a bank gets into trouble they can take the depositors money to pay
the banks debts.
Perhaps when/if it happens it will not happen to all banks.
Spread it around a number of banks, you increase the risk of being hit,
but reduce the loss.

Buy land, that is probably the best and least risky investment.
Well hopefully none of this will happen, but I am afraid that there is
more then a grain of truth to what Arjay says.
I still have not got a grip on what the derivatives risk is that
Arjay has been telling us about.

Bazz

This link might help explain the derivative risk

http://cbn.uds.ak.o.brightcove.com/734546207001/734546207001_1418460539001_PST71v3-H.mp4

Good link on derivatives Snake. Bazz during the WW2 when oil was scarce,people here had coal burners on their cars to power them.Lots of pollution but no shortage of energy.

I don't think the diminishing oil supplies will have much influence. Energy is abundant and we just need the technology to access it.

Worth seeing ,Paul Craig Roberts latest interview with Greg Hunter.
http://usawatchdog.com/threat-of-nuclear-war-back-paul-craig-roberts/

Arjay, I am afraid you just don't get it.
The scale of the problem will be beyond charcoal burners on the rear bumper.
You do not seem to understand that we have production of about 40% of
the oil we consume. However we are closing the refineries so we export
almost all that oil to be refined overseas, then import 90% of the
petrol & diesel we need.

You do not seem to understand that the cost and availability of energy
controls everything. Even the food you eat is transformed oil.

You said energy is abundant, then why are they trying to drill in the
Arctic, miles under the seabed, digging up bitumen in Canada, drilling
down into the source rocks to get that bit extra tight oil at three times the cost ?
We have had the technology for years to get the oil from the source
rocks and now we are near peak production of the tight oil from
the source shale rock.
Do you understand what is meant by the source rocks ?
It is the last place on earth where to find oil.
After that nothing !