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Aug. 12, 2019 - Health Ranger - Mike Adams
12:50
A day of reckoning coming soon for the global DEBT scheme
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The day of reckoning that's coming for people on the financial front, it's going to be historic.
It's going to blow people's minds, especially those who live in the cities, which are transaction-intensive locations, of course, that depend on a lot of external inputs in order to just survive.
You know, everything talked about this before.
Cities have to have water pumped in, food brought in, electricity brought in.
Bandwidth brought in, fuel, gasoline and diesel and so on.
And all of this depends on transactions, financial transactions.
And the transactions depend on the banking system.
And the banking system depends on a reserve currency.
It is now so clear to me that even President Trump It's going to do nothing to stop the massive debt blowout and debt collapse that's coming.
It will be a contagion, and it will spread from bank to bank.
And it looks like it's very near now.
For the last 10 years, I've warned that this could be coming someday.
I've been warning about this possibility since 2008 when I saw the subprime collapse happen, which I actually predicted ahead of time.
You can see my articles in 2006 and 2007.
I said, this bubble's going to pop.
But since that bubble popped, I've been warning that there was not actually a full correction.
The banks that caused the problem were never held accountable.
Nobody went to jail.
Even though there were massive financial crimes committed across the banking industry from Bank of America and Wells Fargo and of course Bear Stearns which is no longer around and just all the big banks they all committed massive criminal coordinated financial fraud.
Nobody went to jail because the banks got bailed out which means the problem never got solved and since then The problem has only become far worse.
Now we have arrived at the point where we have a president who shakes hands with the Democrats to grow the size of the national debt.
Everybody's happy in Washington as long as more debt money can be spent.
Debt money to be spent to appease voters and pay off the special interests and keep the size of government growing so that the power of government grows.
Both parties, Democrats and Republicans, are all in on this.
There is almost nobody left in Washington that believes in balancing the budget, except maybe Rand Paul, perhaps a couple of others.
But almost nobody believes in balancing the budget.
Nobody believes in fiscal restraint.
So what this means is Is that when the debt collapse arrives, it will be so much worse than what it should have been.
It will be catastrophic.
It will be the Krakatoa of the history of finance.
It will be a super volcano of collapsing debt, well, exploding debt and collapsing nations.
And when all is said and done, people who live in cities will die in huge numbers because you can't engage in transactions.
So this is where the rubber meets the road.
I'm trying to make this real so you understand.
This is not just some theoretical, you know, pie in the sky.
Oh, so what if the banks lose money?
And so what if this happens in Washington?
I'm talking about you, in your city, where you go to buy groceries, you swipe a card.
That card won't work.
Why?
Because the transaction systems upon which the banks depend will not function.
You won't be able to use the ATMs.
Why?
Because the ATMs, of course, depend on banks functioning.
You won't be able to write a check.
No one will take it.
It won't be accepted because everybody knows the banks aren't functioning.
You won't be able to withdraw your money.
You think you have money in the bank?
It doesn't mean anything until you withdraw it.
Try to withdraw it and you'll find out that it's not really your money.
It's their money and they've run a bail-in agenda, a kind of scheme where the banks confiscate all the money of the depositors in order to keep the banks solvent.
That is what's coming.
And by the way, people like Jim Rickards have been talking about this for many, many years and Jim Rickards What he knows, his claim to fame, well, part of it, is that he was involved in LTCM. Now, LTCM, in case you don't recall, or maybe you're not old enough, is long-term capital management.
LTCM was the very first too-big-to-fail bank.
Well, a hedge fund, really.
An investment fund, not a bank.
LTCM was bailed out in, I believe, 1997.
Because as it was failing, it was going to cause a cascading domino effect, collapse contagion all across Southeast Asia and much of the world.
And so LTCM was bailed out.
And almost everybody has forgotten about that.
They've forgotten about the conditions that led to it.
Well, Jim Rickards was there.
He was actually part of it.
And he has since been sounding the alarm that the next big collapse is going to be orders of magnitude larger.
See, back when LTCM failed, it could be bailed out.
The government bailed it out.
The government created the money.
Federal Reserve, in essence, created the money and then, well, it always creates it as debt, and then traded that debt to the Treasury Department for a bunch of IOUs.
And then the Treasury gave the money to LTCM, basically bailing out the rich banksters.
Because, again, they were said to be too big to fail.
So all the banksters got bailed out and got to keep all that money for free.
And then in 2007, 2008, the subprime mortgage collapse, we saw the same thing, except the bailout was many times bigger.
Now we're talking trillions of dollars in bailout money.
Yeah, bailout money.
Remember my song, I Want My Bailout Money?
A little flashback of history.
I ended up on the front page of the Wall Street Journal with my picture and my rap song called, I Want My Bailout Money.
Just as a side note, it's a funny thing.
You ought to hear that song today.
It's so relevant to what's happening today.
In any case, the bailout money then was trillions of dollars.
So many times larger than the LTCM bailout of 1997.
Well, the coming bailout, if it were even possible, It would have to be tens of trillions of dollars.
But the problem is, not only are all these banks now too big to fail, they're too big to bail.
Which means the bailouts can't happen.
You can't create that much money in the system without causing a total collapse in the faith and credit of the United States government and the U.S. dollar.
You can't just flood the market with 10 trillion new dollars created out of thin air or 20 trillion.
And the actual amount that may be required in this next big collapse is even larger than that.
It is tens of trillions of dollars.
Who's going to create all that money and bail out all those systems?
The answer is no one.
It's too big to bail, which means the failures will finally...
Kick in.
The chickens will come home to roost, as they say.
They will reap what they have sown.
It will finally happen where they can't kick the can down the road any farther.
And yeah, I'm using a lot of metaphors here, but they all have an important point in common, which is that you can delay, you can evade, you can avoid for a while, but you can't stop the inevitability.
of the financial collapse that our world will be facing.
And when that day happens, you will not be able to use a bank.
Every bank in America, very likely, will suffer severe disruptions.
Many will go under.
There will be bank holidays.
Oh, you're on a holiday.
The banks will be on holiday for who knows how long.
It could be a very long period of time.
And some of them will be on permanent holiday because there's no way for them to ever be bailed out because they've made way too many bets thanks to the reversal of Glass-Steagall, of course.
And if you don't know what Glass-Steagall is, you might want to look into that history and understand how and why that was reversed.
And how and why that will create a contagion, spreading debt collapse, moving like wildfire across the financial landscape.
And at the end of the day, where the rubber meets the road, you will not be able to engage in a transaction in a grocery store, a gas station, in a bank.
Again, the ATMs won't work.
You won't be able to pay your employees if you own a business.
You won't be able to purchase products online.
Credit cards will not function.
The only thing that will function...
Is cash and gold and silver coins, bartering ammo, things like that.
So if you don't have those things set aside and if you aren't ready to survive at least 90 days without shopping at the grocery store, you may not survive at all.
And by the way, about 90% of the U.S. population will die off within about 90 days, maybe 120 days.
And at that point, it's over because, you know, starvation takes some time.
And once it kicks in, there's a lot of spread of disease and there's a lot of violence and, you know, gangs, a lot of civil unrest.
And there's an 80 to 90 percent die off of the American population in less than four months.
So if you can survive those four months, you might be able to make it to the other side of all this.
But during those four months, you won't be able to go to the grocery store.
You won't be able to get any water.
Electricity won't work.
No banking systems will work.
And you'll be under attack by violent gangs.
So that's the scenario you need to prepare for.
Do you want to do that out of an apartment in a city?
Probably not.
Not a good scenario.
You may not survive that.
You'd want to do that out in the country where you have good neighbors and you have plenty of firearms and you've got a food supply and a water supply from the land, all those things.
And that's why I really aggressively recommend preparedness.
So I'll talk about this more in upcoming podcasts.
Read my website, collapse.news.
Which talks about this every day, more articles every day, and then survival.news to help you get ready for what's coming.
And of course, you can hear my podcast at brighteon.com, the YouTube alternative for free speech.
And you can support my work at healthrangerstore.com, where we also offer, by the way, certified organic, lab-verified, superfoods, and storable foods.
So if you want a food supply, an emergency food supply that's certified organic and completely free of MSG and lab tested for glyphosate and heavy metals and microbiology and all these things, healthrangerstore.com is where you get it.
Thank you for listening.
I pray for your safety.
God bless America.
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