Here is a reminder of Glenn Beck's 15 day timeline from the day that China says "no more bonds"...wonder if that was the implication with Saturday's announcement...
China says they may stop buying Treasuries After S&P downgrade??? This was probably an idol threat (for now)
Sadly, I guess we will see how accurate his timeline is...
The question is could we already be on this timeline! Probably not, but who really knows… only time will tell? But once it starts it will be quick! Pray my friends… pray and prepare just in case!! Glenn has been right so often on his predictions. So the question probably is not if, but when!!
Here's the breakdown (with the scenario beginning on a Wednesday):
*DAY 1: China says "no more bonds" (Wednesday)
DAY 2: spooked on Wall Street (Thursday)
DAY 3: rumors start to circulate (Friday)
DAY 4: weekend, "kids at soccer" (Saturday)
DAY 5: Asian markets freefall, USD down 10%, gold goes up $200/oz. (Sunday)
DAY 6: Dow plunges 900-1000 pts. in 20 minutes, markets shut down by 9:50 AM, EU raises interest rates to encourage investors (Monday)
DAY 7: Markets unable to open, emergency fed meetings (Tuesday)
DAY 8: All is quiet, markets start to rally (Wednesday)
DAY 9: Quiet, stable (Thursday)
DAY 10: Dollar plunges an ADDITIONAL 10-15% (Friday)
DAY 11: Fed meets (Saturday)
DAY 12: Fed raises interest rates 5-6% to try and attract buyers (Sunday)
day 13: GLOBAL MELTDOWN, EVERY market (not just DOW) falls 3,000 points (Monday)
DAY 14: IMF and G20 meet, total restructuring, NEW GLOBAL ORDER IS ESTABLISHED!!!! Will be announced globally(Tuesday)
DAY 15: PUBLIC PANICS, bank runs, grocery shelves emptied within a few hours, etc.
If the collapse is not quite as near as the next couple of weeks, now that gold is through the roof (something Glenn also predicted and as laughed at for), please prepare. Investment in silver us a great idea… as well as food, water, general supplies, ammo etc.
The Bitter Fruit of Insolvency - Steve McCann
If a nation wishes to maintain its solvency and continue to expand its economy, it should not experience deficits higher than 3% of its Gross Domestic Product and, in today's quasi-welfare societies, unemployment rates above 6 to 7%. On an aggregate basis, a combination of these percentages should always remain below 10. The higher this "National Insolvency Index" above 10, the greater the problems that country is experiencing, and if that index remains above 10 for three years or more the viable solutions to solve the dilemmas will be increasingly difficult to enact.
The United States has not only one of the worst National Insolvency Indices in the world since 2009 -- the year Barack Obama assumed office -- but the most dismal picture imaginable over the next ten plus years assuming nothing is changed.
The Obama Years:
The average for the eight years of George W. Bush: 7.4
Per the Government Accountability Office for the estimate of future annual budget deficits and the Congressional Budget Office for their estimates of future unemployment rates (it should be noted: the CBO notoriously underestimates), the next 10 years are as follows if no massive and dramatic changes are made:
At no point from 2009 to 2022 and beyond does this index fall below 10. A disaster of monumental proportions is in the offing, and the optimistic outlook by the Congressional Budget Office that the unemployment rate would be at 5.5% by 2016 will never happen making the index even worse than the above chart.
Over this period from the end of 2008 to 2022, the national debt held by the public as a percent of the Gross Domestic Product will grow from 42.0% to 125% and interest expenditures from 1.4% of GDP to 3.9% (in terms of 2011 dollars that is an increase from $200 Billion to nearly $600 Billion or 64% of the total individual income tax receipts by the IRS in 2010.)
This is why S&P has downgraded the creditworthiness of the United States and in reality should follow up with another more dramatic downgrade soon.
After World War II the United States became the greatest economic and military power the world has ever seen. This accomplishment happened in the period 1947 through 2008. The National Insolvency Index for the country averaged 6.9 over those 61 intervening years. It will average 16.0 from 2009 through 2022, far above the threshold of 10.
The urgency of reversing this index cannot be overstated; the United States is firmly on the path of becoming the most massive economic and financial failure in the history of mankind. The credit downgrade is a shot across the bow, not a political or ideological ploy. Will the current American ruling class and the average American citizen glued to the television begin to wake up and understand that he or she is living a tragic reality show in which everyone and everyone's progeny will bear the burden of a dramatically reduced standard of living and a country at the mercy of others?
Source: American Thinker - h/t to Warbird at Sovereignty in Colorado
The stock market made a slow recovery today… until Bernanke announced that he would (artificially) keep interest rates low through through 2013… or at least until the end of the election (re-election of BHO is the goal), after which all Hell will break lose (as described above or some variation) if he is reelected. AFTER THAT IT MADE A MIRACULOUS RECOVERY!
As for Geithner being relieved of his position… that will only happen if they all (the Chicago Team plus Soros) agree it is for the best because let us not forget, the Geithner-Obama connection, like the Jarrett-Obama connection go waaaay back. We are being played my friends!! (And then Geithner will toddle off to BTW, Rick Santelli pointed out that the reality of things is that without the tea party movement, we probably would have been downgraded to a BBB credit rating by S&P instead of a AA+.
How the Feds are manipulating the market:
"Stock prices are no longer based on buyers and sellers, but instead, on the US central bank. Here's how." LINK: http://www.csmonitor.com/Business/Mises-Economics-Blog/2011/0610/Is-the-Fed-manipulating-the-stock-market
"The Fed Is Manipulating The Stock Market And It Should Be No Surprise" LINK: http://www.businessinsider.com/why-is-anyone-surprised-that-the-fed-took-stocks-as-collateral-2010-12
Is the U.S. Government Supporting the Stock Market?
Daniel Shaffer Notices the "Invisible Hand" aka Plunge Protection Team LINK: http://www.fundmymutualfund.com/2009/05/daniel-shaffer-notices-invisible-hand.html
Larry Levin - the Visible and Invisible Hand is Everywhere
Per GodLikeProductions… Something is up: Something's Up: White House Cancels All Public Events for Today. LINK: http://www.godlikeproductions.com/forum1/message1589786/pg9
h/t to Tolline Enger
“What is happening is what I told you would happen on Monday that I set my family down over the weekend and I said, I believe the timeline has accelerated. There has been a trigger and I ask you that if you have listened to this broadcast and if you have been paying attention, I ask you to go back and double your efforts. I ask you to go back now and realize how close we may be and how you need to prepare to be a help to others, how you need to make sure that you have no hatred in your hearts and it is going to be very difficult.” TheDailyBeck
A friend of ours asked his accountant what he should be investing in. The Accountants response was: GOLD, SILVER, GUNS, ANNUNITION, FOOD, WATER AND A GOOD BIBLE to carry you through!!