Most people deal in the present, rarely questioning the future beyond what they consider to be the very next event. The great majority of people…cannot imagine…a disastrous collapse as being in any way possible because surely, somehow, the governments of the world will fix things. The number of people whose eyes have been opened seems to be growing, however, and many of them are asking what the collapse will look like as it unfolds. What will the symptoms be? Here is how we see it.
So says Jeff Thomas (caseyresearch.com) in edited excerpts from his original article* entitled A Glimpse into the Coming Collapse.
[The following is presented by Lorimer Wilson, editor of www.FinancialArticleSummariesToday.com and www.munKNEE.com and may have been edited ([ ]), abridged (…) and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. This paragraph must be included in any article re-posting to avoid copyright infringement.]
Thomas goes on to say in further edited excerpts:
Well, the primary events are fairly predictable. They would include:
- major collapses in the bond and stock markets,
- possible sudden deflation (primarily of assets),
- followed by dramatic inflation, if not hyperinflation (primarily of commodities),
- followed by a crash of several major currencies, particularly the euro and the US dollar.
The secondary events will be less certain, but likely:
- increased unemployment,
- currency controls,
- protective tariffs,
- severe depression,
Along the way there will be numerous surprises—actions taken by governments that may be as unprecedented as they would be unlawful. Why? Because, again, such actions are the norm when a government finds itself losing its grip over the people it perceives as its minions. Here are a few:
- Travel Restrictions. This will begin with restrictions on foreign travel, including suspension/removal of passports. (This has begun in a small way in both the EU and US.) Later, travel restrictions will be extended within the boundaries of countries (highway checkpoints, etc.)
- Confiscation of wealth. The EU has instituted the confiscation of bank accounts, which can be expected to become an international form of governmental theft. This does not automatically mean that other assets, such as precious metals and real estate will also be confiscated, but it does mean that the barrier for confiscation has been eliminated. There is therefore no reason to assume that any asset is safe from any government that approves theft through bail-ins.
- Food Shortages. The food industry operates on very small profit margins and survives only as a result of quick payment of invoices. With dramatic inflation, marginal businesses (suppliers, wholesalers, and retailers) will fall by the wayside. The percentage of failing businesses will be dependent upon the duration and severity of the inflationary trend.
- Squatters Rebellions. A dramatic increase in the number of home and business foreclosures will result in homelessness for anyone whose debt exceeds his ability to pay—even those who presently appear to be well-off. As numbers rise significantly, a new homeless class will be created amongst the former middle class. As they become more numerous, large scale ownership of property may give way to large scale “possession” of property.
- Riots. These will likely happen spontaneously due to the above conditions, but if not, governments will create them to justify their desire for greater control of the masses.
- Martial Law. The U.S. has already prepared for this, with the passing of the 2012 National Defense Authorization Act (NDAA), which many interpret as declaring the U.S. to be a “battlefield.” The NDAA allows the suspension of habeas corpus, indefinite detention, and the assumption that any resident may be considered an enemy combatant. Similar legislation may be expected in other countries that perceive martial law as a solution to civil unrest.
The above list is a sampling of eventualities that, should they occur, will almost definitely come unannounced. As the decline unfolds, they will surely happen with greater frequency.
The value in projecting what the collapsing governments may do to their citizens is not merely an exercise in speculation. By anticipating the likelihood of any of the above, you would be well-advised to:
- spend time musing on the possibility of what you would do if any of the above events were to take place (and, again, these projections are not mere fancy; they are actions typically taken by governments as their declines play out)...
- assess whether they are developments that you feels you could live with and, if not,
- assess how much time you think you have before these events become a reality and to
- decide just what you might do to sidestep their impact on you.
[Editor’s Note: The author’s views and conclusions in the above article are unaltered and no personal comments have been included to maintain the integrity of the original post. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.]
*http://www.caseyresearch.com/articles/a-glimpse-into-the-coming-collapse (© 2014 Casey Research, LLC, All rights reserved)
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