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THE DOMINO EFFECT - The Financial World is about to start falling apart

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Yep, Digital Currencies will pick up the pieces. Rome has to fall first.....

Say goodbye to fiat currencies. Gold Backed currencies will be ushered back into play......most notably by BRICS as the US Dollar goes the way of the dinosaurs.

Edited by TPM

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Nothing will change ..the italian referendum is not about exit from EU.

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Moved to "Off-topic"

@TPM, please do not create posts in General Discussion unless it pertains to Ripple.

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I don't understand all this psychological terrorism....nothing will change after this referendum. Why should  the markets collapse and the world destroy? This is exactly what I don't like of the current economy system...it is not based on science but on psychological effects. 

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56 minutes ago, tulo said:

I don't understand all this psychological terrorism....nothing will change after this referendum. Why should  the markets collapse and the world destroy? This is exactly what I don't like of the current economy system...it is not based on science but on psychological effects. 

indeed, but it is a problem that modern financial markets and banking are (for a way to high part) based on trust. An at large scale or global emerging distrust can (and will!) collapse the whole system

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If you're genuinely concerned the economy is falling apart, gold isn't going to help you unless you assume some miracle recovery. If you're that worried about a negative turn of events, buy a month or two's supply of baked beans and loo roll and dig a hole in your garden to throw it in! Then find somewhere to hide.

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2 hours ago, kanaas said:

indeed, but it is a problem that modern financial markets and banking are (for a way to high part) based on trust. An at large scale or global emerging distrust can (and will!) collapse the whole system

They are based on trust mainly because of loans and interest. Without loans and interests (as in the Islamic Economic Model) I think all the global economy would be way more stable. 

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Just now, tulo said:

They are based on trust mainly because of loans and interest. Without loans and interests (as in the Islamic Economic Model) I think all the global economy would be way more stable. 

"the ultimate stable situation is one with no activity at all" - dixit kanaas -  :lol:

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Italy's banks are in turmoil, I really doubt Italy's banks will cause a financial domino effect.

 

On the topic of global financial ruin and all that around it, a few thoughts:

1. Currently the banking system runs on FIAT, which can be reproduced infinitely.

2. Value that can't be replicated infinitely would become more valuable than it's oppose(FIAT)...ie Gold, Silver, Salt, Medicine Cryptocurrency, Physical Assets, etc.

3. It's all about the market bro and what it demands....

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Everyone is betting against the DOLLAR......everyone!

If you have seen the movie the BIG SHORT, then, you know what is going to happen next.

It will be called the NUCLEAR SHORT.......and anything will set it off.

As @kanaas stated, TRUST MATTERS......what do you think will happen to trust due to the fact that our 6 BIGGEST BANKS have 278 Trillion in exposure to derivatives? Boom...... BAKED BEANS have been purchased....lol

Fake money(Petro Dollar), backed by nothing but brute force is over. Gold Backed currency is the next step.....the idea that the results would be so bad therefore, it can't happen is a fools paradise.

Let’s wait and see what happens......?

----------------------------------------------------

The Six Too Big to Fail Banks in the U.S. Have 278 Trillion Dollars of Exposure to Derivatives

The very same people that caused the last economic crisis have created a 278 TRILLION dollar derivatives time bomb that could go off at any moment.  When this absolutely colossal bubble does implode, we are going to be faced with the worst economic crash in the history of the United States................ these “too big to fail” banks have exposure to derivatives that is more than 28 times greater than their total assets. 

 

JPMorgan Chase

Total Assets: $2,573,126,000,000 (about 2.6 trillion dollars)

Total Exposure To Derivatives: $63,600,246,000,000 (more than 63 trillion dollars)

 

Citibank

Total Assets: $1,842,530,000,000 (more than 1.8 trillion dollars)

Total Exposure To Derivatives: $59,951,603,000,000 (more than 59 trillion dollars)

 

Goldman Sachs

Total Assets: $856,301,000,000 (less than a trillion dollars)

Total Exposure To Derivatives: $57,312,558,000,000 (more than 57 trillion dollars)

 

Bank Of America

Total Assets: $2,106,796,000,000 (a little bit more than 2.1 trillion dollars)

Total Exposure To Derivatives: $54,224,084,000,000 (more than 54 trillion dollars)

 

Morgan Stanley

Total Assets: $801,382,000,000 (less than a trillion dollars)

Total Exposure To Derivatives: $38,546,879,000,000 (more than 38 trillion dollars)

 

Wells Fargo

Total Assets: $1,687,155,000,000 (about 1.7 trillion dollars)

Total Exposure To Derivatives: $5,302,422,000,000 (more than 5 trillion dollars)

 

http://www.globalresearch.ca/the-six-too-big-to-fail-banks-in-the-u-s-have-278-trillion-dollars-of-exposure-to-derivatives/5442764

 

Edited by TPM

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