"We're in a major economic collapse on a global scale. Most people do not understand that this is the real threat we face." –M. Armstrong–

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Turkmenistan, the former Soviet republic, devalued its currency against the US dollar by 18% for the new year. Turkmenistan is energy-rich and this is the latest sign of seriousness of the collapse in oil. This will contribute to now force the dollar higher as commodities decline, the energy producing nations will be compelled to devalue their currencies in an effort to try to make ends-meet. Devaluations will result in an attempt to create inflation to offset the deflation. We are in a major economic collapse on a global scale. Most people do not understand that this is the real threat we face.
armstrongeconomics.com/2015/01/01/turkmenistan-devalue-by-18-start-of-the-deflationary-contagion/
Turkmenistan Devalues Currency By 18%, Armstrong Warns Of “Economic Collapse On A Global Scale”
The energy-rich former Soviet republic of Turkmenistan Thursday devalued its currency against the US dollar by 18%, as AFP notes, in the latest sign of contagion among Russia’s neighbors from the plunging ruble (following Krgyzstan’s 17% plunge in 2014 and Kazakhstan’s 14% tumble). However, as Martin Armstrong warns, this is symptomatic of a deflationary contagion that “will contribute to now force the dollar higher… We are in a major economic collapse on a global scale. Most people do not understand that this is the real threat we face.”

 
Global Economic COLLAPSE Happening NOW as Governments Scramble to Save Financial System!

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Sources:
Russia currency reserve debt
www.zerohedge.com/sites/defaul…
“Russia’s crisis has no end in sight as $50 oil looms, says OECD – Telegraph”
www.telegraph.co.uk/finance/oi…
“Oil plummets after Saudis say $20 crude is possible – Telegraph”
www.telegraph.co.uk/finance/ne…
“China to Ease Rules to Boost Lending – WSJ”
www.wsj.com/articles/china-to-…
Wealth gap inequality middle class
www.zerohedge.com/sites/defaul…
“Subprime Angst Fades as Crisis-Era Bonds Show 12 Percent Returns – Bloomberg”
www.bloomberg.com/news/2014-12…
“Japan Approves $29 Billion Spending Package to Boost Economy – Bloomberg”
www.bloomberg.com/news/2014-12…
“Insurer That Got $145 Million Loan Under Obamacare Is Almost Broke  – Bloomberg”
www.bloomberg.com/news/2014-12…
 

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5 thoughts on “"We're in a major economic collapse on a global scale. Most people do not understand that this is the real threat we face." –M. Armstrong–

    • Agree. It’s very lazy, like Ferdinand The Bull. Teasing the collapse into action seems hard. Anyone has a stinging bee?

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