As if that's a hard prediction to make when they basically don't even have a budget anymore. Important to be aware of what's pretty much bound to keep happening in our lifespans (e.g. 2008)... but that's not really a specified prediction. We're now five years from 2008 and there have only been collapses in what Chris Hedges has termed sacrifice zones. The vision of most doom and gloom types is that there will be an almost total collapse of some sort. So what's the time frame? "Within the next five to ten years."
I prefer saying this: "Within our lifespans..." But in the meantime, everything will be fine (except for the sacrifice zones and so forth)... at least until it isn't.
Commenting on comments:
new Tabarnaque
I bet the bastards are shiting in their pants. There are still around 19,000 opened contract in gold for October delivery. This is more than twice the amount needed to force the Comex into a default. And now the goons at the Fed are talking about Octaper!! Watch the 10 year rate crawl back toward 3%... They are fucked. The USD is about to loose its world reserve currency status and they can't do anything about it."The USD is about to loose its world reserve currency status"
It's about the only thing that would screw the Fed. Then things quickly get out of control for them.
US Dollar reserve status hanging by a thread and an FOMC hawk thinks credibility is at stake? Too late, doesn't even matter if the sheep don't know or care what the significance is.
This morning I heard CNBS' Pisani saying that Europe has "avoided a crisis for the last year" - perhaps avoided a 'crisis' in financial markets but the real economy is in huge crisis, an utter disconnect between reality and fiction of markets.
The rest of the world has already begun to move on from the dollar. It doesn't happen over night, but it has certainly begun the process. Dollar is toast... gov declares bankruptcy with the next 5 years. Sorry boomers, no free healthcare, spa visits, vacation homes, etc... on the government. No one will lend them anymore
