The “Independent” Newspaper in London has published a stunning story today that an aid to former Prime Minister Gordon Brown is warning the public to:
1) Have cash money in your possession as banks may close and credit cards may not work
2) Have plenty of canned Goods and water to survive ONE MONTH in your house.
3) Agree with your family on a meeting place in case communications go down and you have to leave ! ! ! !
Folks here in the USA should take this advice RIGHT NOW. Don’t wait. If you wait and other folks don’t, they will strip the stores bare before you ever get there.
It’s not just him saying it though:
The former special adviser added that financial levers, such as cutting interest rates and Quantitative Easing (QE), which the Government was able to use in 2008, are no longer available – a view that has been echoed by other market critics.
Alistair George, chief strategist at Edison Investment Research, said: “By keeping rates so low policymakers took the risk that they would face a crisis without having room to cut rates, and their bluff has been called as markets demand yet another round of QE. This is unfortunately where the world has got to by keeping ultra-loose monetary policy in place for far too long after the crisis of 2008, in our view.”
Alongside fears of a slowdown in Chinese growth and demand, investors are also spooked by fears over elections in Europe’s debt-laden countries Greece, Spain and Portugal.
Global Crash: What They’re NOT Telling You
LIVE – THE CRASH OF 2015
BBC News–4 hours ago
International Business Times–48 minutes ago
Breitbart News–2 hours ago
In-Depth–The Guardian–1 hour ago
In-Depth–Telegraph.co.uk–1 hour ago
Bloomberg–27 seconds agoChinese shares tumbled by the most since 2007 on Monday, stocks in Germany … sending the yields on benchmark Treasuries to a four-month low and those on …Telegraph.co.uk–40 minutes agoGlobal currency wars: what China’s devaluation really mean …. Larry Summers, former US treasury secretary, has described a September lift-off as “extremely …Citywire.co.uk–6 hours agoOther major central banks also remain very supportive,’ Goradia said. … This in turn could throw the Federal Reserve and Bank of England’s plans to raise …Bloomberg–9 hours agoSoutheast Asia’s dwindling foreign-exchange holdings are exacerbating the risk of a currency war as policy makers have little choice but to allow exchange rates …Russian currency loses 45 per cent of value since May
Europe Online Magazine–3 hours agoBloomberg–1 hour ago
The real plunged to a 12-year low, leading losses for Latin American currencies amid a global rout spurred by concern that the economic slowdown is worsening ..Bloomberg–10 hours agoRussia’s ruble led a selloff in emerging-market currencies, while the yen strengthened and 10-year Treasuryyields slid below 2 percent for the first time since …Wall Street Journal–9 hours agoWELLINGTON, New Zealand—Reserve Bank of New Zealand Deputy Governor Grant Spencer said any interest rate increases in New Zealand are likely “off the …International Business Times–6 hours ago
India’s central bank Governor Raghuram Rajan pledged to contain major losses in the country’s stock market and currency. In this photo, Rajanlistens to a ..Bloomberg–4 hours agoThe gauge touched a four-year low earlier after Reserve Bank of India Governor Raghuram Rajan said central banks should avoid giving “booster shots” to stock …Financial Express–18 hours agoIndia would urge the US Fed to defer its plan to raise interest rates when the G20 finance ministers and central bank governors meet on September 4-5 in …Bloomberg–6 hours agoThe Bank of Korea will prepare necessary measures to stabilize markets while closely monitoring North Korean risks, the central bank said in a statement after …
Economic Times–2 hours agoEconomists have said the central bank desperately needs to hike rates to defend the lira and complain that it is in thrall to President Tayyip Erdogan, who has …Thanh Nien Daily–9 hours agoBad debts in Vietnam’s banking system rose to 3.72 percent of loans in June from 3.15 percent in May, although lending has grown more quickly than previously …Wall Street Journal–8 hours agoJust 37% of the economists polled said the central bank will increase the federal-funds rate next month, according to a National Association for Business …Bloomberg–3 hours agoThe Reserve Bank raised its benchmark repurchase rate by 25 basis points to 6 … The central bank targets inflation between 3 percent and 6 percent and will …Bloomberg–1 hour agoEight of the world’s 10 worst performing currencies as of 12:27 p.m. in London were African, with Zambia’s kwacha and South Africa’s rand falling to new lows …Bloomberg–8 hours agoDebt-service costs would consume 10.1 percent of expenditure, compared with 9.6 percent the previous year, he said. Net debt was projected to rise to 42.5 …Sydney Morning Herald–6 hours agoThe Australian dollar’s resilience may be over after it fell to a six-year low on Monday after a Chinese sharemarket rout tipped emerging market currencies into …Chiang Rai Times–Aug 23, 2015MOSCOW – Vladimir Putin’s government has resumed pressure on exporters to sell foreign currency in an effort to prevent global market turbulence from …
Bloomberg–7 hours agoThe bigger borrowing requirement comes as Denmark continues to exist without government bond auctions as part of the central bank’s effort to defend the …Bloomberg–11 hours agoThe Financial Markets Association of Malaysia said it’s encouraged by assurances from the prime minister and the central bank governor that there are no plans …Wall Street Journal–12 hours agoBut there is speculation of China’s central bank stepping in soon with fresh monetary policy easing measures, which could alleviate the stock market collapse.
Reuters–4 hours ago“When the central bank intervened in the past it was a Russia-specific move related to sanctions. Now, we are seeing the same story in Mexico, Malaysia, …
Financial Times–5 hours agoThe rouble is on track to close at a new record low as it leads the plunge in emerging market currencies. The dollar has climbed 3 per cent against the rouble …Ukraine Today–1 hour agoFears of a Chinese economic slowdown pushed the Russian ruble into freefall on Monday (August 24) approaching all-time lows. The ruble slipped 3% to 71.32 …
Reuters–4 hours ago… around 5 percent on Monday to 17.601 to the dollar, according to central bank data, coming under pressure from currency volatility in Russia and elsewhere.
Bloomberg–7 hours agoTaiwan equities entered a bear market last week amid concern China’s slowdown and currency devaluation will further dent exports, which has already dragged …
Reuters–2 hours agoSANTIAGO Aug 24 Chile’s peso currency zipped past the 700 per U.S. dollar level Monday morning, to a new 12-year low, pressured by tumbling prices for …
Reuters–40 minutes agoBrazil’s benchmark Bovespa stock index last traded 5.7 percent lower at 43,121, its lowest level since early 2009. Shares of state-run oil company Petroleo …
Bloomberg–12 minutes agoBrazil’s real and its stocks led declines in Latin America on speculation that an economic contraction will deepen as growth in the nation’s top trading partner …
Bloomberg–2 hours agoThe pension-funding crisis undermining the stability of Illinois and Chicago is rippling through hundreds of smaller governments, squeezing budgets as officials …
Bloomberg–6 hours agoBond prices suggest otherwise. The extra yield investors demand to buy New Jersey bonds instead of top-rated debt is holding close to the highest since at least …Bloomberg-5 hours ago
Proposals by the Organisation for Economic Co-operation and Development to limit tax exemptions ondebt would hurt real estate shares as property companies …Bloomberg–2 hours agoItalian and Spanish 10-year bond yields have risen less than 10 basis points since China unexpectedly devalued its currency on Aug. 11, sparking a selloff in …Bloomberg–6 hours agoMoody’s Investors Service estimates the nation’s debt-to-gross domestic product may climb to 6.4 percent this year if the government raises 115 billion riyals …
The Detroit News–3 hours agoThe local government receives lower Medicaid and Medicare reimbursements, … a year inMedicaid alone than if it were a U.S. state, said island congressional …
Reuters–1 hour agoCANADA FX DEBT-C$ tumbles to 11-year lows as oil dives 4 pct on China. * Canadian dollar at C$1.3249 or 75.48 U.S. cents * Bond prices higher across the …Financial Times – ?Aug 23, 2015?The head of a Chinese exchange that trades minor metals was captured by angry investors in a dawn raid and turned over to Shanghai police, as the investors attempted to force the authorities to investigate why their funds have been frozen. Investors …
The Mexican peso fell to a record low of 17.25 to the dollar Monday amid a broad selloff in emerging-markets currencies. The Mexican currency MXNUSD, -0.758914% recovered slightly in recent trade to 17.10 to the dollar, but many strategists expected it to go lower as a broad selloff in emerging-markets currencies continues.
CORRECT: Stoxx Europe 600 ends 5.3% lower for worst day since Dec. 2008
Some advice to China’s government and central bank:
You’ve tried everything else. Maybe you can put on those slippers and try this: