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Why Are The IMF, The UN, The BIS And Citi All Warning That An Economic Crisis Could Be Imminent?
Submitted by Michael Snyder via The Economic Collapse blog,
The warnings are getting louder. Is anybody listening? For months, I have been documenting on my website how the global financial system is absolutely primed for a crisis, and now some of the most important financial institutions in the entire world are warning about the exact same thing. For example, this week I was stunned to see that the Telegraph had published an article with the following ominous headline: “$3 trillion corporate credit crunch looms as debtors face day of reckoning, says IMF“. And actually what we are heading for would more accurately be described as a “credit freeze” or a “credit panic”, but a “credit crunch” will definitely work for now. The IMF is warning that the “dangerous over-leveraging” that we have been witnessing “threatens to unleash a wave of defaults” all across the globe…
Governments and central banks risk tipping the world into a fresh financial crisis, the International Monetary Fund has warned, as it called time on a corporate debt binge in the developing world.
Emerging market companies have “over-borrowed” by $3 trillion in the last decade, reflecting a quadrupling of private sector debt between 2004 and 2014, found the IMF’s Global Financial Stability Report.
This dangerous over-leveraging now threatens to unleash a wave of defaults that will imperil an already weak global economy, said stark findings from the IMF’s twice yearly report.
The IMF is actually telling the truth in this instance. We are in the midst of the greatest debt bubble the world has ever seen, and it is a monumental threat to the global financial system.
But even though we know about this threat, that doesn’t mean that we can do anything about it at this point or stop what is about to happen.
The Bank of England, the UN and the Bank for International Settlements have all issued similar ominous warnings. The following is an excerpt from a recent article in the Guardian…
The IMF’s warning echoes a chorus of others. The Bank of England’s chief economist, Andy Haldane, has argued that the world is entering the latest episode of a “three-part crisis trilogy”. Unctad, the UN’s trade and development arm, would like to see advanced economies boost public spending to offset the downturn in emerging economies. The Bank for International Settlements believes interest rates have been too low for too long, encouraging too much risk-taking in financial markets. All of them fear that the global financial system is primed for a crisis.
I particularly like Andy Haldane’s likening our current situation to a “three-part crisis trilogy”. I think that is perfect. And if you are familiar with movie trilogies, then you know that the last episode is usually the biggest and the baddest.
Citigroup economist Willem Buiter also believes that big trouble is on the horizon. In fact, he is publicly warning of a “global recession” in 2016…
Citigroup economist Willem Buiter looks at the world landscape and sees an economy performing substantially below potential output, which he uses as the general benchmark for the idea of a global recession. With that in mind, he said the chances of a global recession in 2016 are growing.
“We think that the evidence suggests that the global output gap is negative and that the global economy is currently growing at a rate below global potential growth. The (negative) output gap is therefore widening,” Buiter said in a note to clients. He added, “from an output gap that was probably quite close to zero fairly recently, continued sub-par global growth is likely to put the global economy back into recession, if indeed the world ever fully emerged of the recession caused by the global financial crisis.”
Usually when we are plunged into a new crisis there is some sort of “trigger event” that creates widespread panic. Yesterday, I wrote about the ongoing problems at commodity giants such as Glencore, Trafigura and The Noble Group. The collapse of any of them could potentially be a new “Lehman Brothers moment”.
But something else happened just yesterday that is also extremely concerning. Just a couple of weeks ago, I warned that the biggest bank in Germany, Deutsche Bank, was on the verge of massive trouble. Well, on Wednesday the bank announced a loss of more than 6 billion dollars for the third quarter of 2015…
Deutsche Bank’s new boss John Cryan set about cleaning up Germany’s biggest bank on Thursday, revealing a record pre-tax loss of 6 billion euros ($6.7 billion) in the third quarter and warning investors of a possible dividend cut.
Write downs, impairments and litigation costs all contributed to the loss, the bank said.
Cryan became chief executive in July with a promise to cut costs. The Briton is accelerating plans to shed assets and exit countries to shrink the bank and is preparing to ax about 23,000 jobs, or a quarter of the bank’s staff, sources told Reuters last month.
Keep an eye on Germany – the problems there are just beginning.
Something else that I am closely watching is the fact that major exporting nations such as China that used to buy up lots of U.S. government debt are now dumping that debt at an unprecedented pace. The following comes from Wolf Richter…
Five large purchasers of US Treasuries – China, Russia, Norway, Brazil, and Taiwan – have changed their minds. They’re dumping Treasuries, each for their own reasons that are now coinciding. And at the fastest rate on record.
For the 12-month period ended July, sales of Treasuries by central banks around the world reached a net of $123 billion, “the biggest decline since data started to be collected in 1978,” the Wall Street Journal reported.
China, the largest foreign owner of Treasuries – its hoard peaking at $1.317 trillion in November 2013 – has been unloading with particular passion. By July, the latest data available from the US Treasury Department, China’s pile was down to $1.241 trillion.
Yes, I know, the stock market went up once again on Thursday, and all of the irrational optimists are once again telling us that everything is going to be just fine.
The truth, of course, is that everything is not going to be just fine. Ever since I started the Economic Collapse Blog, I have never wavered in my belief that the greatest economic crisis that the United States has ever seen is coming, and I have written well over 1000 articles setting forth the case for the coming collapse in excruciating detail. Nobody is going to be able to say that I didn’t try to warn them.
Those that have blind faith in Barack Obama, Wall Street, the Federal Reserve and the other major central banks around the planet will continue to mock the idea that a major collapse is coming for as long as they can.
But when the day of reckoning does arrive and crisis coming knocking at their doors, what will they do then?
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I HEAR NOTHING
Me too...
I hear the Sound of Silence.
Nobody doing nothing...means you will hear nothing :)
Duhhhh....:)
You and I are very smart, I tell you! :)
Me either <pencils jammed in ears>
Basel III is the guy on all fours sneaking behind the smaller banks and waiting for the push. These risk management/insurance schemes are merely small guy tax. The smaller you are, the riskier you are, therefore you should pay more. Really it's about taking out competition banksters and letting the remaining big guys have more power and wealth.
The BIS and IMF are primary architects of the current fiscal and soon global economic collapse.
What do they want?
More power. Beware the BIS, UN the IMF and their new Russia-China centric New World Order.
In the meantime feel free to cheeer Putin and Jinping on as they decapitate ISIS and stare down the West in a fake nuclear showdown engineered to distract the muttonheads from the global economic meltdown as the "phoenix" emerges from the ashes...
The BIS is European mucka-de-mucks, right? and the IMF is European and American smaller mucks, right?
All mucks are banker mucks... and the BIS is the Crime Central Headquarters for the world's Central Banks run for the sole benefit of the Global Financial Elite
That's all you need to know.
Why? Because the plan from the guys at the top has always been to throw the Fed, BOE and all central banks under the bus at the end. So that they can sit back and say, "See? We told you that countries can't handle their own finances. Look what the Federal Reserve has done! Now we need to roll out a world wide governance over finance. Hey - look! We were right. Choose us!"
Barry needs to send them a horses head in their bed ... convince them "everything is wonderful."
"Strong economy" ... "lots of money sitting on the sidelines" ... "green shoots" ... and always, "There's never been a better time then now to buy a house!"
Are there no limits to your depravity? How would you like it if YOU woke up with john kerry lying next to you? Huh?
Correct.
They are just trying to nail control of the planet down for all of eternity so their Luciferian banker children can have a better life than they did. To do that they need to get rid of the sovereignty of Nation States through empowering their UN and IMF/BIS creations. The Rockefellers Council on Foreign Relations was created to achieve this precise goal.
Hillary Clinton tells you who actually runs the US Government in 33 seconds > https://www.youtube.com/watch?v=Ba9wxl1Dmas
Former CFR Director Dick Cheney chimes in... > https://www.youtube.com/watch?v=XOAk-7F1EVU
Yes they already own Russia and yes they already own China as even a person with a moderate understanding of history already knows which is why Rockefellers NWO Production manager 93 year old Henry Kissinger is always so busy visiting Putin and now Jinping.
"Mr. Putin has cited Mr. Kissinger as a trusted foreign policy adviser. In the book “First Person,” Mr. Putin admiringly recalled a conversation in the early 1990s when, as an aide to the mayor of St. Petersburg, Mr. Putin was asked to pick up Mr. Kissinger at the airport."
"The two men are “old friends” who have met 8 or 10 times over the years, once dining at Mr. Kissinger’s home in New York, he said. Mr. Peskov said Mr. Putin was interested in Mr. Kissinger’s counsel about domestic politics, among other subjects."
http://www.nytimes.com/2012/01/20/world/europe/henry-kissinger-to-meet-w...
Now go back to your regularly scheduled programming and enjoy the "End of the World" Kabuki performance they are PUTIN on for you...
This will be the first epic disaster everyone saw coming and yet... still did not get out of the way. And so it goes.
I'd rather be on Tralfamadore with Montana Wildhack.
I don't get why the Glencore and the Douche Bank's situations aren't causing at least some heavy duty tremors. Then throw in VW and Alcoa woes.....
The kool aid is strong this go around.
Take two aspirin washed down with a liter of Roundup and call me in the morning.
The group's named ARE the problem and things can't be fixed, so they won't be fixed, but they all have somebody else to blame......
Putin!
Vlad should open a Russian restaurant called Putin Takeout.
Rootin Tootin Putin
We only listen to CNBC. Everything else is just noise! Steve Lies man, Dennis flipflopping Gartman, and clown Cramer are the true voices!
Alas, the 'market' can stay irrational a LOT longer than I can stay solvent.
Deafness to bad economic news is always the result of efficient propaganda . The USA is about to be bankrupt, about to lose the ability to print dollars out of the blue, as the US dollar is no longer the only international currency and becomes worthless. Since 2014, the most populated and least indebted nations, the BRICS ( Brazil, Russia, India, China, South Africa) and their allies have signed contracts in order to use their own currencies in international trade . Since May 2015, together with most of the E.U. countries (France, Germany, Britain etc ...), the BRICS and their allies use 2 Chinese international banks ( China Development Bank and AIIB ) to replace the old monopoly of NATO banks, IMF and the World Bank . The times are changing for the USA.
Deafnesss baaic news is always the result of efficient propaganda . The USA is about to be bankrupt, about to lose the ability to print dollars out of the blue, as the US dollar is no longer the only international currency and becomes worthless. Since 2014, the most populated and least indebted nations, the BRICS ( Brazil, Russia, India, China, South Africa) and their allies have signed contracts in order to use their own currencies in international trade . Since May 2015, together with most of the E.U. countries (France, Germany, Britain etc ...), they use 2 Chinese international banks ( China Development Bank and AIIB ) to replace the old monopoly of NATO banks, IMF and the World Bank . The times are changing for the USA.
Deafnesss baaic news is always the result of efficient propaganda . The USA is about to be bankrupt, about to lose the ability to print dollars out of the blue, as the US dollar is no longer the only international currency and becomes worthless. Since 2014, the most populated and least indebted nations, the BRICS ( Brazil, Russia, India, China, South Africa) and their allies have signed contracts in order to use their own currencies in international trade . Since May 2015, together with most of the E.U. countries (France, Germany, Britain etc ...), they use 2 Chinese international banks ( China Development Bank and AIIB ) to replace the old monopoly of NATO banks, IMF and the World Bank . The times are changing for the USA.
Pay attention to what the global overlords say. After all, they determine the outcome rather than predict it.
This writer is bearish with a Biblical intensity. Next.
Bearish and bullish are irrelevant unless you are on a fool's errand of trying to time the HFT-manipulated securities "markets". What matters is who is right. Widespread financial insolvency cannot be reconciled. Defaults cannot be avoided, only deferred. Time is the only variable left in the equation.
Indeed....On All Points....
Most Especially the Latter.......
You have been describing a slow motion train wreck. The Central Banks have slowed the train wreck to a crawl a couple of times ... but the train is still heading toward its wrecking...or is t reckoning..?
Well they helped to create it,they should know I guess...
Because they plan on printing fiat as if there was no tomorrow
Financial and economic collapse is a normal phenomenon in Kali yuga.
If Deutche has a fat counterparty position with Glencore, it could be a double lehman moment.
Double, secret probation, sir?
The broken clock mantra and so forth and so on....
What? Are the printers running low on ink? None of those cats give a shit about the economy. They all exist in a fiat utopia.
I'm doing all I can do, Gun Show tomorrow time to ammo up.
Whatever. I've been saying it for 7 years.
That ought to keep the Knights of Ni at bay.
Have a look around the world to see what has happened to the global consumer base:
1) The once wealthy Western consumer has had all their high paying jobs off-shored. As a stop gap solution they were allowed to carry on consuming through debt. They are now maxed out on debt.
2) Japanese consumers have been living in a stagnant economy for decades.
3) Chinese and Eastern consumers were always poorly paid and with nonexistent welfare states are always saving for a rainy day. Western demand slumped in 2008 and the debt fuelled stop gap has now come to an end.
4) The Middle Eastern consumers are now too busy fighting each other to think about consuming anything and are just concerned with saying alive.
5) South American and African consumers are busy struggling with economies that are disintegrating fast.
It doesn't look good.
hmm, here's an idea. let's take the North Korean currency, establish it as the GRC, let them print up as much as they need and "voila!" all of that pent up demand unleashed, the world will beat a path to sell their goods to the NORKS. rather that than a BIS/IMF NWO.
1000 articles? The author should put more effort put into timing or at least a chain of events leading to a crisis than the prediction insteading of waiting to be right. Everyone knows the direction we are in.
Snyder talks like he is the guy who uncovers all of this trouble, when all he does is regurgitate the work done by others.
That's an unoriginal criticism.
No, no he doesn't. He has dozens of links per article. He picks a topic and sites numerous sources validating his point then comments on it.
Jelly much?
Cites.
Yep, thanks for the correction
.
To clean the corrupt system, they will crash the corrupt system. Rob from the criminals, erase the derivatives fraud, Isolate the US, and restore Asset Backed Currency, global fairness, and a eliminate the uni-polar mentality prevalent in US foreign policy.
Ranger4564, Where ya been?
Isolation coming post-Paris is what I have been saying all year. TROW is moving on. Syriasly.
Yeah but this market is a reverso-bizarro market, and in any case "a bull market climbs a wall of worry". Conventional economists (and most ZH posts) have predicted disaster since 2008 - as they should have, based on the economics texts everyone studied in the last fifty years.
But it's all different now.
You're never supposed to say it's all different now, but - it's all different now!
You know,. When the tide goes out, one can see who is naked. I prefer to be in a boat with both motor and oars. :-)
Just be sure to keep a couple of forks ready for that moment when you need to
pluck your eyeballs out of your head because of what you have seen.
The BIG collapse is already here, but the Central Banksters, & Congress, does not want to admit that they failed to actually earn the money they are being paid by the taxpayer. They cannot admit defeat to their employer/taxpayer because their collective resignations would be required if they did. Those that are pragmatic can admit that central banking has been an abject failure, but pragmatic professionals don't work in government, or in the bureaucracy. Pragmatic professionals can only carp on about this mess from the periphery. In brief, Z/H is the periphery, and we are all in agreement that central banking is the biggest joke in the 21st Century that has come down the pike, ever.
While plenty of us are paying attention and understand that shit is going south...I can see why many people tune out Snyder...he's like a combination of chicken little, the boy who cried wolf and a nagging wife.
Sure if you beleieve official statistics we are in economic lala land.
If you open your eyes you see we are already long in recession, a child can see.
Economic troubles? Fed can just give another moar dovish talk.
Why are they warning?
1. Most likely it is misdirection amd propaganda
2. Less likely it is their plan and want to appear as competent and prescient
3. No chance that it is going to happen by accident. In that case they would not be able to warn or want to.
i would rather gouge out my own eyes than read anything written by the imf
Why are all these orginizations warning of an imminet melt down? Simple, because it's the case. Buy them cheap and stack them deep.
"Hank Paulson's classic "Tanks in the street" flashback.
Because we all know Jack Jew is coming with TARP #2. Or TARP on steroids.
The boyz will make a lot more on the 2nd TARP
Rinse and repeat.
All i remember from 2008 was how long it took them to Call a Spade......... a Black Diamond
If i could pray for one thing, it would be that all the Financiers crash and burn and Main Street barely Notices
we need someone to cleanup the bodies leaping from wall street and move the guillotines
let me know when the cancer( (having your soul rot away is now know as cancer) twins Lloyd and Jamie are self-anointed co-US Treasury Secretary and FED Chairman over lord simultaneously? Then I will know there are problems.
you mean they're not...!....?
Those two guys need to share a cell.
Why? perhaps the fact that the IMF just printed up lots of nice new SDRs and is wondering what to do with them
Instilling a new reserve currency is great work, if you can get it.
If anybody has faith in Obama...
Predictable? Yes.
"But when the day of reckoning does arrive and crisis coming knocking at their doors, what will they do then?"
"They" will switch gears to impose drastic, democidal martial law.
The global financial system is based upon governments ENFORCING FRAUDS by privately controlled banks. Indeed, the entire history of civilization was the history of successful warfare based upon backing up deceits with destruction morphing to become successful finance based upon ENFORCING FRAUDS. The article above grossly understates the nature of the problems which have developed to become globalized electronic frauds, backed by the threat of force from atomic bombs.
The series of future crises are all driven by the industrial revolutions, which started with the development of physical STEAM ENGINES & and political DEBT ENGINES, at about the same time in human history. More and more "money" was made out of nothing as debts, in order to "pay" for strip-mining the planet's natural resources. That was done through fundamentally fraudulent financial accounting systems, where the debt controls were backed by the death controls. After one appreciates the degree to which money is measurement backed by murder, then there can be no doubt that the established systems of DEBT SLAVERY BACKED BY WARS BASED ON DECEITS, were built in ways that drove the generation of numbers which became debt insanities, and that those have no realistic resolutions other than through provoking death insanities. Human beings operate as entropic pumps of environmental energy flows, which have been driven by natural selection pressures to develop their artificial selection systems to become based on the maximum possible deceits and frauds, with respect to how they perceive and discuss themselves.
While there are an abundance of theoretically possible creative alternatives, all of those are politically impossible, due to the established vicious feedback loops of POLITICAL FUNDING ENFORCING FRAUDS. Political economy always operated inside of human ecology. However, that human ecology was driven by the history of warfare to manifest human death control systems as murder systems, which were most socially successful by being the most deceitful and treacherous. Warfare was organized crime on larger and larger scales, then, the political economy developed inside of that history of warfare, driving the currently existing situations whereby the international bankers are the biggest gangsters, or the banksters, who were able to persistently apply the methods of organized crime through the political processes, in order to achieve making and maintaining the established global financial system, based upon governments ENFORCING FRAUDS by privately controlled banks.
The intense paradoxes are due to the ways that the more successful those systems of ENFORCING FRAUDS are able to become within society, the more psychotically insane that society as a whole becomes. Tragically, in each short to medium term increment, there was nothing which could stop civilization being controlled by increasingly sophisticated and integrated systems of legalized lies, backed by legalized violence. The ruling classes were selected to become the most psychopathic people, while those they ruled over were selected to become Zombie Sheeple, dominated by those Vicious Wolves (who were publicly presented in sheep's clothing.) There was never any rational evidence nor logical arguments regarding the longer term consequences of doing that which could change anything, because the only things that those systems based upon backing up lies with violence DID were based upon being able to continue to do that more and more ...
Civilization was necessarily controlled by the principles and methods of organized crime, which social situation drove there to become consistent contradictions, in the forms that governments became the biggest forms of organized crime, controlled by the best organized gangsters, the banksters, while, at the same time, the banksters' bullshit social stories were able to dominate society more and more, through being able to increasingly ENFORCE FRAUDS, despite that never stopping those frauds from basically being false. Hence, the banksters' organizations, like the IMF, UN or BIS, etc., are based upon being able to spout bullshit regarding the relatively objective realities that they operate through ENFORCING FRAUDS. Their bullshit presents false fundamental dichotomies, and promotes impossible ideals, which always backfire badly, and cause the opposite to happen in the real world, because those are what such systems were designed to actually DO.
The deeper sources of the crises are the prodigious progress in physical science, being channeled through social pyramid systems based upon being able to back up lies with violence. Financial successfulness based upon governments ENFORCING FRAUDS by privately controlled banks automatically became more and more severe manifestations of runaway criminal insanities, due to those always being based upon the principles and methods of organized crime, which were able to dominate civilization through promoting their bullshit social stories to become the dominate stories that were taught in the schools and mass media. The global financial system is based upon a core of organized crime, surrounded by layers of controlled opposition (with all of the publicly significant religions and ideologies being varieties of that controlled opposition.)
Theoretically speaking, it would take series of intellectual scientific revolutions to transform political science enough to integrate and surpass the profound paradigm shifts already achieved in physical science. However, from any practical point of view, that is politically impossible. The IMF, UN, or BIS, etc., are all run by the best available professional liars and hypocrites. Of course, they will continue to deliberately ignore that their ways of perceiving the problems, by using false fundamental dichotomies, and the related impossible ideals, are operating inside of Wonderland Matrix Bizarro Worlds, where they are deliberately ignoring and misunderstanding everything as much as possible.
Since the global financial system is actually based upon governments ENFORCING FRAUDS by privately controlled banks, that system is based upon deliberately ignoring the principle of the conservation of energy as much as possible, while deliberately misunderstanding the concept of entropy in the most absurdly backward ways possible. The basics are that "money" is made by law, but that the only connection between human laws and natural laws is the ability to back up lies with violence. Of course, the established global financial system deliberately does not admit and address the ways that money is necessarily measurement backed by murder, as the most abstract form of private property being based upon backing up claims with coercions. Instead, the fields of economics are proportionately dominated by the best available professional liars and hypocrites, who have perfected their abilities to bullshit about those issues.
Theoretically speaking, there are surely an abundance of creative alternatives, which could be manifested through better integrated human, industrial and natural ecologies. However, natural selection pressures actually drove human ecology to become controlled by warfare, based upon the maximum possible deceits, which then morphed to become human economics based upon the maximum possible frauds. Along the way, the industrial revolutions enabled the development of more and more oxymoronic scientific dictatorships, whereby science and technology was primarily applied to become better at backing up lies with violence, which eventually became globalized electronic monkey money frauds, backed by the threat of force from apes with atomic bombs.
It is politically impossible to have any relatively rational public debates about that situation, because everyone inside of the global financial system became personally successful to the degree that they were able to operate as the best available professional liars and immaculate hypocrites, who were adapted to take advantage of the established systems being based upon ENFORCING FRAUDS. Of course, the established global financial system will NOT admit and address how and why that is what actually exists, and therefore, that system can not adapt and change in any other ways that for it to continue to attempt to double down on ENFORCING FRAUDS, despite that always becoming more psychotically out of touch with relatively objective realities, since being able to back up lies with violence never stops those lies from still being false, while those lies thereby continue to be the socially dominate stories, the biggest bullies' bullshit, which are able to control civilization, such as how the global financial system, made and maintained by the banksters, is all based upon ENFORCING FRAUDS, but continues to almost totally get away with deliberately ignoring that, while discussing those issues in the most absurdly backward ways possible.
Of course, social systems based upon ENFORCING FRAUDS become more and more intensely paradoxical, due to their inherently consistent contradictions! Theoretically speaking, the only realistic resolutions to the real problems demand profound paradigm shifts in the perception of the problems present in political economy. However, doing that continues to be politically impossible, due to those problems being based upon POLITICAL FUNDING ENFORCING FRAUDS. Therefore, the default resolutions to those problems are that runaway debt insanities will provoke runaway death insanities. The only genuine alternatives would have to be better death controls to back up better debt controls. However, since those are politically impossible, the default resolutions are for the established global financial system to be pumped up and UP with more and more energy, which will eventually drive series of severe social storms to blow through, manifesting as series of crazy collapses into chaos.
Meanwhile, while Michael Snyder has "written well over 1000 articles setting forth the case for the coming collapse in excruciating detail," and I have read several dozen of those, I regard his analysis as still being relatively superficial. The deeper issues are the chances of developing integrated human, industrial and natural ecologies, which certainly are theoretically possible, but which are politically impossible due to the human ecologies operating through death controls which are deceitful as possible, while the industrial ecologies are operating through debt controls which are as fraudulent as possible, while both tend to deliberately disregard and discount the natural ecologies as much as possible.
The global financial system is set up to privatize the profits, while socializing the losses, awesomely amplified by the advancements of the industrial revolutions, enabled by prodigious progress in physical science and technologies. The main mechanisms driving that were the ways that the privatized profits were able to operate through feedback loops of POLITICAL FUNDING ENFORCING FRAUDS, while the socialized losses had negligible impact upon the political processes. Therefore, the most important trends have been that the global financial system was a DEBT SLAVERY ENGINE, which made the public "money" supply out of nothing as debts, in order to "pay" for strip-mining the planet's natural resources at an exponential rate, while governments backed up that fundamentally fraudulent financial accounting system.
At the present time, NOBODY knows what happens to globalized systems of electronic frauds, backed by atomic bombs. The internationally banksters that originally made and maintained those systems do NOT understand that, and no longer control that. NOBODY DOES! Rather, the global financial system manifests the excessive successfulness of the applications of the methods of organized crime to control civilization, driving that civilization to become runaway criminal insanities. I.e., exponentially increasing strip-mining of the natural resources of a fresh planet, through the development of the industrial revolution, while those trends were always based upon being able to continue to ENFORCE FRAUDS ... despite that ENFORCEMENT NEVER STOPS THOSE FRAUDS FROM BEING FALSE!
The global financial system has ALWAYS been headed towards psychotic breakdowns, and collapsing into chaos, because it was ALWAYS based on being able to back up lies with violence, which could be socially successful in each short-term increment, but which simultaneously drove society as a whole to become more psychotically detached from relatively objective realities. Theoretically speaking, we should better connect physical science with political science.
However, from a practical point of view, that is politically impossible. Hence, "when the day of reckoning does arrive and crisis coming knocking at their doors, what will they do then?" ... "They" will switch gears to impose drastic and democidal martial law. Within the established social pyramid global financial system, the only realistic resolution of debt insanities are death insanities. Meanwhile, the only alternative resolutions must necessarily be alternative death control systems. Theoretically speaking, the knowledge exists, or could be developed, in order to be able to operate such alternative death control system, however, those are politically impossible, given that all sociopolitical systems are currently operated by professional liars and immaculate hypocrites, who adamantly refuse to change their perceptual paradigms regarding what they were actually doing, in order to make more realistic resolutions of the real problems become practically possible to implement.
BIS = Big International Stealing