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Peter Schiff: Here Comes the Great, Great, Great, Great Recession!

Thursday, February 4, 2016 14:51
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(Before It's News)

Wells

“Economists” who like to dismiss the fact that Peter Schiff has predicted each of the major crashes during recent years when they themselves were unable to, like to ignore or poke fun at Peter’s current warnings about the pending financial collapse of the U.S. economy. Peter often says if 2008 was called “The Great Recession,” then the coming collapse is going to have to be called, “The Great, Great, Great, Great Recession,” because it’s going to be infinitely worse than the crash of 2008.

It’s as if many of these “economists” are more focused on playing a game of “gotcha” to satisfy their own personal egos, than they are about reporting the truth to those listening to them. Many of these economic “talking heads” are quick to pounce when they can point out times when Peter has been wrong in his forecasts, the most recent time being Peter’s ongoing prediction throughout all of 2015 that there wasn’t a snowball’s chance in hell the Fed would raise interest rates at all in 2015. 

When the Fed DID choose to raise rates at the very end of the year, it’s almost as if you can hear Wall Street cheering from wherever you live that they (the talking heads) “busted” Peter in a bogus prediction. What many of these same alleged “economists” fail to recognize, is they’ve NEVER been right… about anything… no melodrama intended there either. With respect to the Fed raising rates, Peter WAS correct all year up until the December Fed meeting. While it’s true Peter insisted there was no chance of a rate hike, Peter always explained WHY there would never be a rate hike.  He always listed three reasons why there was NO CHANCE the Fed would raise rates.

In the video below Peter Schiff politely reminds the CNBC Asia host that all three things Peter predicted would happen if the Fed raised interest rates have in fact happened. Those three things being that the U.S. stock market would go way down, gold would go up, and the U.S. Dollar would go down. If there is a “Gotcha” moment to catch Peter in, it’s that he didn’t think Janet Yellen was as big of an idiot as she has turned out to be, because he gave her credit for knowing this would happen, and therefore would be smart enough NOT to raise rates. 

Schiff goes on to say that gold is up 9%, the Dollar is down to it’s lowest level since October, and he argues that the U.S. economy is already in a recession… a BAD one… but that won’t be “official” until the quarterly reports come out. Do people really need to wait for the “official” word? Good Lord! The economy is DYING! Peter says Americans need to brace themselves because this “recession,” which is really going to be an epically tragic Great Depression, will be much longer, and much deeper than we experienced in 2008.

The article below, suggests that Wells Fargo is well aware of this fact as well, and they are beginning to train for an imminent “emergency scenario.” Listen to what Peter says to expect in the coming months, and if you’re asking yourself why the “Talking Heads” on television aren’t saying the same thing, I’ll tell you why: Their shows are kept on the air with advertising dollars. If they tell people the truth, and tell them that there is no hope of avoiding the devastation that is coming, people won’t watch, ratings will tank, and they’ll lose their sponsors. 

In other words, they have a conflict of interest, but don’t expect them to be honest enough to tell you so. YOU need to be smart enough to realize that for yourself, and start listening to the people who’ve been right all along, people like Peter Schiff, Jim Willie, or Michael Snyder! 

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Investment Blog Watch Writes:

A Wells Fargo bank insider, who claims to be a teller, has said that the bank are training their staff to deal with an imminent “emergency scenario”.

The insider reports:

I am a teller at Wells Fargo here in the US this is also my first time using this proxy.

They started training us today for a bank holiday. They didnt mention the word bank holiday, but they did train us for an “emergency scenario”. They told us it’s just a drill. I’ve been working here for 3 years, and we never had a drill before..

They said that during an emergency, they would close the doors and only allow 3 people at a time inside of the branch. Also, my branch manager said that we would have armed guards during the emergency.

The last thing they mentioned is that they wont store a lot of cash in the vault, since it will be a safety issue….

just wanted to share this with you guys.

Superstation95.com reports:

A call by SuperStation95 to Wells Fargo Corporate Headquarters in San Francisco to verify these claims was met with a terse “no comment.”

Interpretation

If taken at face value and believed, why would Wells Fargo be doing this?  What “emergency” could take place that might cause people to swarm to a bank in such numbers that they would have to lock the bank and only allow three customers in at a time?

A bank collapse?   An economic collapse?  a Currency collapse?

None of these things would be good and if the claims above are true, it is a dangerous signal to the rest of us to get some money out to tie-us-over for a month or so in the event everything shuts down.

In a banking emergency, CREDIT AND DEBIT CARDS WILL NOT WORK.   ATM’s will not work.  Banks will be closed so that you cannot even enter your own safe deposit box.

Do you have enough cash money on-hand to get through for a couple weeks operating solely on cash?  If not, you’d better get that taken care of — fast.

We’re not even talking about making payments on your debts during that time, but rather only using the cash to get food, fuel and such to live!  Could you make-it for a month without access to any financial tools or bank cash?

Do you have spare food in the house if stores stop taking credit cards- or the cards don’t work?  How will you eat if everything remains cash-only for a month?

These are legitimate questions you should be asking yourself right now.  Time may be very short.  An economic collapse would take place with lightning speed and by the time you realize what’s happening, people will already be storming the banks and supermarkets trying to stock-up.  Waiting until it actually happens is waiting too long; you’ll be too late.

A word to the wise: Prepare.

 

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seenlife

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FOR MORE GREAT MATERIAL FROM JIM WILLIE:

Jim Willie: Global Banking Cabal and Their Satanic Rules Are Ready to Strike

Jim Willie: Both Our Allies and the American People Absolutely Hate Our Government

Jim Willie: U.S. Dollar is Now a Matter of National Security Due to Poor Decisions

Jim Willie: Armageddon Coming to U.S. With Trillions Exposed In Derivatives

Jim Willie, The Fed’s Week of Reckoning, and an Isolated United States

Jim Willie: After Banks Fail, Government Seizes IRA’s, 401k’s, and Pensions

Jim Willie, the Crumbling Global Economy, and the Dollar Crisis

Jim Willie: What Do the Oil Black Market, NATO, and ISIS Have in Common?

Jim Willie; One on One -Taking Questions On the Most Pressing Matters of the Day

Jim Willie: The Fed, Yellen, US Dollar, and Negative Interest Are a Joke!

Jim Willie Explains U.S. Nuclear Threats to China & Russia Over Challenging the Dollar 

COMM-DollarCartoon07242009-2

FOR MORE GREAT MATERIAL FROM PETER SCHIFF:

Peter Schiff: “Whatever Obama Was Calling Recovery… is OVER!”

CNBC Actually Admits Peter Schiff Was Right… Again (Video)

Peter Schiff: Due to the Feds Antics, the Market is Very Dangerous Now

Peter Schiff: 2015 Was The Worst Year Since 2008 and Stocks Still Dropping

Peter Schiff: Janet Yellen Strayed From Her Own Plan and Went Nuts!

Peter Schiff: Higher Spending During Holidays Does Not Fix Screwed Economy

Peter Schiff and “If The Economy Is Fine, Why Are So Many Large Retailers Imploding?”

Peter Schiff: Take a Good Look at the “New” American Dream!

Peter Schiff: Did the Fed’s Luck Run Out On Friday the 13th?

Peter Schiff and “The 4 Harbingers Of Stock Market Doom”

Peter Schiff and Reagan Advisor: Complete Economic Collapse Immediately Ahead

Peter Schiff: Warning! Economic Storm Clouds Ready to Rain

Peter Schiff: Death of the US Dollar Is Imminent; Fed Out of Options

Peter Schiff: 11 Trillion In Global Stock Losses and Awful Jobs Report

 

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Total 8 comments
  • Yes, one day you will die. But they never say that to balance things out. Hmmmm…..

  • How can America or any other country compete with those who duplicate and distribute a product far cheaper than those who initially created it ?

    Example.

    Curtis Youngblood invented a variable pitch quad copter capable of performing unbelievable manoeuvres using only a single motor, similar products available now direct from China at half the price Curtis Can sell his own model.

  • How many dead bankers can you fit in a garage…..????

    Another two if I move my bike. :evil:

  • “Here comes”? What the Hell does this guy think we have been in since the 90s? The definition of an extended recession is a Depression and that is what we have.

  • Jay

    The question is , what is the trigger? We have a long term debt of over 20 trillion dollars. With BO’s help and the 9 trillion of debt over the life of his administration . One has to wonder if the merry go round can’t go on forever. What dollar amount will it take. The debt that the government has incurred over the years can never be paid back so what number triggers the collapse .?

    • b4

      if you are interested in timing read Martin Armstrongs blog-the smartest man in money matters–everything goes in cycles-we are in a 300 year cycle–debt,debt,debt-war,deflation and more defaltion-1 misstep and the wheels come off as they have many times before

  • Financial Crisis & Collapse: There Will Be No Last Minute Warning! – Mike Maloney
    http://www.silverdoctors.com/financial-crisis-collapse-there-will-be-no-last-minute-warning-mike-maloney/

  • What is an economist? A pipe piper?

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