Greece

Bix Weir Predicts 2017 Derivatives Implosion, Trump To Crash System Then Rebuild

“Donald Trump’s prediction that the U.S. economy was on the verge of a ‘very massive recession’ hit a wall of skepticism on Sunday from economists who questioned the Republican presidential front-runner’s calculations…

‘I think we’re sitting on an economic bubble. A financial bubble,’ he said.”

-Reuters.com, April 3, 2016

Precious metals and financial expert Bix Weir recently appeared on former network/investigative correspondent Greg Hunter’s latest project, Greg Hunter’s USAWatchdog.com (“Analyzing the News to Give You A Clear Picture of What’s Really Going On”). In an interview published Tuesday, Weir warned of a coming derivatives implosion and dropped a bombshell when he predicted U.S. President Donald Trump would crash the system, then rebuild. From the exchange between Hunter and Weir:

HUNTER: Isn’t this the year we get the derivatives implosion?
WEIR: Oh definitively. People keep saying, “Well, if Greece leaves the EU, it’s not going to affect the rest of Europe.” Yes it will. It will destroy all the debt based on Greek bonds. It will destroy all the banks- Deutsche Bank, great example. If Deutshce Bank goes, J.P. Morgan goes, Citbank goes, all the banks go. And then the derivative implosion happens. And that’s alway been kind of the home-built nuclear bomb in the financial system is the derivative market- the hundreds of trillions, quadrillions, in derivatives that are so dependent upon third-parties staying in business. Because they are the counter-party to Deutsche Bank, and Citibank, and J.P. Morgan. Once one large derivative holder goes, they all go. We almost saw it in 2008. I think we’re real close to it again. I think Trump is going to push that ticket…
HUNTER: Do you think that we’re close to this derivatives explosion, this implosion, right now? Do you think it’s this year?
WEIR: I do think it’s this year. I think it can happen at any moment. I think Trump has long said that we’re in some huge bubbles and they’ve got to pop. He doesn’t want them popping after he’s fixed half the things in America. So, I would assume he’s going to pop them very soon, in the first few months of his administration. And we’re into that now. There are certain people that I know he needs to get in place. Because the popping of this bubble- this is the big mother of all bubbles.
HUNTER: So he is rushing to get his people in place so he can execute his plan. You’re saying he has a grand plan. That things aren’t just going to happen willy-nilly. You’re saying he’s going to get his people in place and he’s going to force the collapse, the reorganization.
WEIR: Yes. But it’s not his grand plan. This is the plan of the “good guys” that I’ve been talking about…
HUNTER: So why do you think we’re close to an economic reset, an implosion, a derivatives problem, the whole system resetting, changing, whatever. Why do you think we are close?
WEIR: Well, I know that Donald Trump is in charge of the exchange stabilization fund. So it’s basically he has the keys to ending this market rigging game. And once you end the market rigging game, then you can’t support the stock market. And everything has to go to its true fair market value, with real trades, no more derivatives. So Trump can do it. The question is, “Does he want to?” And it’s not just Trump. It’s the people who are behind Trump. I call them the “good guys.”
HUNTER: The Pentagon.
WEIR: Well, there’s people at the Pentagon. Within the military. Patriots. Going back since the sixties a lot of these guys are looking for a little retribution on the “bad guys” taking out Kennedy. But all this goes back to- what does Trump want to do? Trump and his people. Do they want to fix things? Go down that road to starting to fix things with the bubbles still there, with the Fed still printing money. Or, does he really want to fix them. Which means you crash the system first, and then you rebuild. I think it’s the latter. I think he’s trying to get people in place, and then he will crash the system and rebuild.


“Bix Weir-Trump Will Crash System Then Rebuild”
YouTube Video

Weir, who has a presence on the Web at RoadtoRoota.com, recommends selling “anything that has a third-party between you and your hard asset” like stocks and bonds, and buying Bitcoin (“get it out of the system”), gold, and silver- particularly silver. He concluded:

If you’re looking to make money, silver and Bitcoin- you can’t go wrong.

(Editor’s note: Bold added for emphasis)

I’d heard of Bix Weir before, but never read/listened to anything by him before. Very interesting, to say the least.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. The creator/Editor of this blog is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information contained herein.)

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Martin Armstrong Warns Illinois ‘Taxpayers Are Absolutely Screwed And This Is Not A Place You Want To Own Property’

Speaking of Martin Armstrong, I was reading the economist’s blog early Wednesday morning when I came across the following in his April 4 post entitled “Illinois on the Brink of Bankruptcy”:

The pension crisis is brewing and the one state that appears to be heading toward a complete bankruptcy is Illinois. Clients should not own ANY debt from Illinois, be it city, municipal, or state. Just get out before the curtain falls. The Illinois Constitution plainly states that pension benefits, once granted, “shall not be diminished or impaired.” Thus, taxpayers are absolutely screwed and this is not a place you want to own property

(Editor’s note: Bold added for emphasis)

“Taxpayers are absolutely screwed and this is not a place you want to own property”

“Just get out before the curtain falls”

Regular readers of Survival And Prosperity know this has been a major concern of mine for a couple of years now. I blogged back on November 9, 2012:

Events that have unfolded at the local level on up for some time now have convinced me that my future lies outside of Chicago, Cook County, and Illinois. Which is a shame, because as I’ve mentioned before, my family has deep ties to the area. So much so a number of family members are familiar with the tale of one ancestor who fought courageously to save his tailor shop (at least the contents of it) from the approaching flames of the Great Chicago Fire back in 1871.

141 years later, another looming disaster looks to be in store for me and my loved ones if I don’t take action, and soon.

It’s bad enough Chicago, Cook County, and Illinois was already overrun by too many residents that live their lives in pursuit of the Ubi East Mea (“Where’s Mine?”) mentality and politicians who have been quick to pander to these individuals with “free” things in exchange for votes- long before last Tuesday’s election results revealed the rest of America is now marching down this same path.

But combine this with poor financial health, a bleak economic outlook, and growing attacks on the finances and freedoms of productive, law-abiding residents as politicians rob Peter to pay Paul in their attempt to remain in office- and you’ve got one hell of a mess coming to this area of the Midwest in the next few years.

Eventually, I predict the productive residents will split town (this happened before in Chicago in the late 60s-early 70s in some neighborhoods), there will be no more money for “freebies,” and the “Where’s Mine?” brigade will riot. Athens-style.

As I’ve been telling those close to me for some time now, “First you’ll see the strikes. Then the larger protests. Until finally, the riots.”

History shows you don’t want to be in the city when the riots break out.

And I don’t plan on being here in Chicago when the coming civil strife erupts either.

I split town several months after writing all that.

You can read Armstrong’s entire blog post on his company’s website here. Disturbing stuff for citizens of “Madiganistan.”

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. The creator/Editor of this blog is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information contained herein.)

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SP Intel Report- November 9, 2015

Chicagoland

Nearly 1 Out Of 3 City Of Chicago Workers Made $100K Or More Last Year

Having lived in a northwest side neighborhood chock-full of City of Chicago employees prior to moving out to the ‘burbs, I wasn’t really surprised to learn of the following. Chris Fusco and Tim Novak reported on the Chicago Sun-Times website yesterday:

Nearly one out of every three workers on the city of Chicago payroll made $100,000 or more last year — a far higher percentage of six-figure employees than in state or Cook County government.

That’s according to a Chicago Sun-Times analysis that for the first time combines city workers’ salaries, overtime and other extra pay.

Twenty-six city workers drew paychecks that eclipsed Mayor Rahm Emanuel’s pay of $216,210, the analysis found. They included a police detective, two fire department ambulance commanders and two water department operating engineers…

(Editor’s note: Bold added for emphasis)

Fusco and Novak noted that there were 35,761 City of Chicago employees last year. And nearly 1 out of 3 made $100K or more? Nice gig if you can get it, right? Regrettably, I predict that when tough financial times finally arrive at the Windy City’s doorstep, even “clout” won’t be able to protect certain positions and salaries from getting slashed.

Cook County President Toni Preckwinkle To Tax Ammunition Sales?

Gun “control” (or gun “safety” as certain word wankers are now trying to call it) is on the march again in Cook County. From a County blog post Friday:

In an effort to reduce gun violence and improve public safety by creating new revenue for preventative actions, President Preckwinkle is also proposing a tax on rounds of ammunition sold in Cook County. The ammunition tax, either a penny or nickel per round depending on the category of ammunition, is aimed at addressing the costs of future gun crimes and the revenue generated will be dedicated to public safety initiatives.

President Preckwinkle, long an advocate of common sense gun laws, previously supported and passed a $25 tax on gun sales in Cook County. She has advocated for legislation that would ban assault weapons and high-capacity magazines, require registration of existing firearms and require background checks on all firearms sales at gun shows — commonly referred to as the “gun show loophole.”

(Editor’s note: Bold added for emphasis)

Tax law-abiding firearm owners in Cook County for the actions of criminals? Yeah, that makes a lot of “common sense.” You see, felons and other convicted criminals can’t purchase ammunition legally in Cook County, because they shouldn’t be able to get an Illinois State Police-issued Firearm Owner’s Identification Card. From the Illinois State Police, Firearm Services Bureau website:

Unless specifically exempted by statute, any Illinois resident who acquires or possesses firearms, firearm ammunition, tasers or stun guns within the State must have in their possession a valid FOID card issued in his or her name…

To be eligible for a FOID card, a person must be 21 years of age or have a parent or guardian sponsor that is eligible for a FOID card. An applicant must not be prohibited from possessing firearms in accordance with state or federal law. This requires the applicant is/has:

• Not been convicted of a felony…
• Not subject to an existing order of protection.
• Not been convicted within the past 5 years of battery, assault, aggravated assault, violation of an order of protection, or a substantially similar offense in another jurisdiction, in which a firearm was used or possessed.
• Not been convicted of domestic battery, aggravated domestic battery, or a substantially similar offense in another jurisdiction…
• Not convicted of a misdemeanor crime of domestic violence…

So what’s President Preckwinkle’s goal from a Cook County ammo tax then? My guess is gun “safety.” Something tells me we’ll be seeing the county in court if they decide to pursue this matter.

Illinois

Illinois Open Range Program To Be Held On November 14

Speaking of guns and the Illinois State Police, it’s that time of year again in the “Land of Lincoln.” From the website of central Illinois NBC affiliate WAND 17 on Friday:

The Illinois Department of Natural Resources is teaming up with Illinois State Police to promote hunting safety through the annual Open Range Program on November 14.

Officials say hunters and observers will be invited to ISP ranges in order to check the sighting in their shotguns…

Ranges in Effingham, Pawnee, Pittsfield, Macomb, Joliet, and LaSalle will be open for the program from 8 AM until 4 PM this coming Saturday. For more information, head on over to WAND 17’s website here.

International

Greece’s Government Confiscating Contents Of Bank Safe Deposit Boxes?

Last week, I was working on my offshore asset protection-related projects quite a bit. And here’s something disturbing I noted Friday in a post on Offshore Safe Deposit Boxes that may interest you:

Just when the reputation of bank safe deposit boxes couldn’t get any worse comes this out of Greece. Anthee Carasavva reported on The Times (UK) website back on October 12:

Greece’s government is raiding savers’ safe deposit boxes to raise revenue and stamp out tax evasion.

Tryfon Alexiadis, the deputy finance minister, said yesterday that Greeks owing more than €150,000 in back taxes would be targeted. Those suspected of tax evasion would also come under scrutiny and their bank deposit boxes prised open without notice

“Safe deposit boxes across the country will be subject to these inspections immediately,” Mr Alexiadis told an Athens-based TV network…

(Editor’s note: Bold added for emphasis)

It’s being reported that the tax inspectors could seize half of the cash found, and stocks, bonds, jewelry, and works of art. You can read the entire post in its entirety here on my other blog.

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Source:

Fusco, Chris and Novak, Tim. “THE WATCHDOGS: A third of Chicago city workers make $100k or more.” Chicago Sun-Times. 7 Nov. 2015. (http://chicago.suntimes.com/news/7/71/1072015/city-haul-3-of-10-chicago-city-workers-make-100000-a-year). 8 Nov. 2015.

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The Survival Podcast’s Jack Spirko On Nationwide Riots

If you’ve been following the news the last couple of days, you’re probably aware of the renewed tension in Ferguson, Missouri, on the first anniversary of the riot there. Back when I started this blog in 2010, I suspected civil strife would pick up due to worsening financial conditions and other developments.

Regrettably, I think Ferguson is just the tip of the iceberg.

I’m not the only one who sees more civil disturbance on the way. Modern survivalist and host of The Survival Podcast Jack Spirko has been issuing warnings as of late. And I’ve been listening attentively. Back on May 20 I blogged:

Speaking of The Survival Podcast, I was listening to a different episode (number 1566, “What the Baltimore Riots Say about our Future”) some time back and took note of some advice host Jack Spirko shared with listeners. He warned on April 28:

You know those trendy areas in downtown that everybody thinks are great places to live as a hipster, because you can walk to the donut shop and the coffee shop? Sooner or later in most of our big cities those are going to be burned to the ground. Don’t live there. Don’t live there. One more time, don’t live there. Get out of the urbanized areas. I don’t care how you do it, just do it. You’re better off anyway…

Spirko added later in the podcast:

I wish I had better news for you. I wish I could tell you that this is an isolated incident. But here’s what I believe. The potential for this type of a riot exists in every major city in America. And it actually would be relatively easy to set them off like fires. It really would. I think the right people, with the right messaging, the right agitation, the right insiders, could cause a riot like this in any city with a population over 500,000 in America today. And quite a few smaller venues too. I really do. That should scare the shit out of you. But the response should scare you even more. It’s not going to be pretty. That’s why you need to be prepared…

Spriko wasn’t about to leave listeners “hanging” on this topic, so on July 29 he released episode 1614, “The Danger Of Nationwide Riots.” From that show:

So here’s what I think you need to do for your own protection. Number one, you need to be at some level of in touch with your local law enforcement. Sheriff’s department, local PD, whatever. You need people that will tell you what they know if things are starting to go sideways. And they will know when they start to go sideways long before a TV says so. You need to be paying attention to chatter with a police scanner or a scanner app or something like that in your general community on an ongoing basis. Just once in a while. Couple times a day just checking in to see what’s going on. Some local PDs have like online now where you can go online and see all the police activity…

The closer you live to a city, the more you need to have a plan to eventually say, “As much as I want to stay and defend my home, it’s not worth it, I’m leaving.” And I know the survivalist mentality is strong in our community. And I will stay here, I will pick up my guns, I will do no harm to anybody, but if you come here and take what I have, I will lay you flat out. I know that is in you, because it’s in me. I mean, that’s how I feel. And in many instances, it’s the course I would take. You can do whatever you want until you mess with me or my neighbors and then it’s on bitches. But you have to think about the result. If your home’s burnt to the ground, that’s what insurance is for… And I would rather rebuild my life with fire insurance, than I would want to try to rebuild my life from behind the bars of a penitentiary, which is a place you may end up if you take that stance. There may come a time when you have to, where you have no choice… I mean what you need is a neighborhood banded together. You’ve seen the signs after hurricanes and stuff- 20, 30 friggin’ rednecks with guns. “You loot, we shoot.” Usually that is enough to defer and cause avoidance. But the closer you live, the less likely that is to be. So the closer you are in, the more you need to have a plan to bug out, which you should have anyway because hurricanes, tornadoes, fires, they are also reasons you might have to bug out. Illnesses, pandemic… There’s times getting out of the way make sense.

You also have to have a good, solid bug-in plan. The bug-in plan is the most important plan you need for this. For most of us, we do not live in the streets where these types of things actually happen. The spillover into suburbs, etcetera will be limited. And it will be more like one-off type things. It will not be wholescale rioting. The safest course of action for most people is going to be for a month or more to hunker down, live off of what you have, go out as little as possible, coordinate with your neighbors, coordinate with what’s left of local law enforcement, and wait this thing out if it happens. It’s going to be the most sane, rational thing that you can do. It going to be the only way no matter how good your intentions are you’re not going to be part of one of the groups pouring gasoline on the fire. So the bug-in plan is important, which means all your basic preps- food, water, energy, medical, health, etcetera. It means if you live in a city that is particularly vulnerable to this and you work where they will be a problem, or you’d have to cross the problem to get to work, this is the time now to start talking to your boss about and say, “Hey look, if something did go sideways in this town, don’t you think it would make sense if we had ways for our people to work remotely, so that the company’s operations can continue, but nobody’s life had to be at risk.”

You need to be tied in to your neighbors. You need to have agreements with your neighbors… There’s some neighbors you really can’t go deep with them about this, but you just need to know them. What’s their name? What’s their spouse’s name? When do they work? When do they come home? What are they like? So when this stuff starts to go sideways, instead of telling them it may go sideways, it’s going sideways right now, let’s work together to protect our neighborhood. You need to be part of your neighborhood, part of your community. Whether it’s a rural one or an urban dense one, doesn’t matter. You need to know as many people’s names as possible.

You need to be trained in self-defense and you need to be armed. In spite of what I said about the fact that you could get into a situation where if you defend yourself you could be prosecuted, there’s a point at which that goes out the window. When you legitimately feel that your life or the life of a loved one is being threatened, and lethal force is the only alternative, the time to use it is two-and-a-half seconds ago. But you can’t go back two-and-a-half seconds so the time is now…

But overall what you need is a plan… I don’t know anything about you individually, okay? So in the end, you have to say to yourself, “Self, this is something that could happen. If it did, near me, what would we do, and when would we act.” In other words, when would we say, “Okay, nobody is going to school or work.” What would be the level of danger that we would have a clearly-defined border, and once that occurred, how long could we be okay? How long would we be alright?… If we did leave where would we go? What would be our basic rules of engagement? When would we act? Who would I contact first in the neighborhood? What would I say? You just need to mentally run the scenario in your head. Not to the point where you start to fear from it or have apprehension from it. Just to the point where if it does occur, it’s not like, “Holy shit, what do I do now?” like you’ve never thought about it before. See, that’s the big thing I want to leave you with today… What matters is that you’ve mentally drilled into yourself that there’s something I can do and these are the things that I would do. That’s what makes you able to adapt and survive.

Whew. Wise words from Spirko on dealing with a disturbing event that I predict Americans will be experiencing more frequently in the coming years.

You can listen to episode 1614 in its entirety here, and episode 1566 here, on the The Survival Podcast website.

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Gone Blogging (About Greek Bank Safe Deposit Boxes)

Sorry about the lack of material on Survival And Prosperity this week. With the most recent flare-up of Greece’s sovereign debt crisis, I’ve been busy blogging about reports that access to cash in Greek bank safe deposit boxes has been prohibited. You can read all about it over on Offshore Safe Deposit Boxes.

New material is scheduled to be published on Survival And Prosperity tomorrow.

Thank you for your patience.

Christopher E. Hill
Editor

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Argentina Crash Survivor’s Advice For Greeks

“As Greece descends into financial crisis, its citizens and investors globally are turning to hedges old and new.

European demand for the age-old safe haven of gold coins has risen in recent weeks, as has the relatively new concept of investments in digital bitcoins, market participants say.

As the situation in Europe grows more precarious, the price of both have risen in recent weeks as concerns have grown about the threat to banks in Greece and the risk that turmoil could spread to other countries in the eurozone and elsewhere…”

The Wall Street Journal website, June 30, 2015

Any Survival And Prosperity readers have any family/friends in Greece? I don’t, but my girlfriend was telling me recently how a female acquaintance of hers just had family over from Greece. They returned to their home country… just in time for the default.

If anyone has family/friends over there, they might want to consider watching the following video Argentinian survivalist and author Fernando “FerFAL” Aguirre just uploaded onto YouTube. As I’ve mentioned before, FerFAL has first-hand experience of what those in Greece are going through (and may very well be encountering soon), having lived through the Argentine economic crisis that reared its ugly head back in the early 2000s. FerFAL, who now resides in Northern Ireland, hammered home five things that those living in Greece should be doing right now (in his opinion) if they haven’t done so already:


“Greek Crisis: Five Tips for People in Greece”
YouTube Video

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein)

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Tuesday, June 30th, 2015 Europe, Preparedness, South America No Comments

IMF Statement On Greece

The Greek sovereign debt crisis has now entered a new, more disturbing phase. From an International Monetary Fund press release Tuesday night:

Statement by the IMF on Greece
Press Release No.15/310
June 30, 2015

Mr. Gerry Rice, Director of Communications at the International Monetary Fund (IMF), made the following statement today regarding Greece’s financial obligations to the IMF due today:

I confirm that the SDR 1.2 billion repayment (about EUR 1.5 billion) due by Greece to the IMF today has not been received. We have informed our Executive Board that Greece is now in arrears and can only receive IMF financing once the arrears are cleared.

“I can also confirm that the IMF received a request today from the Greek authorities for an extension of Greece’s repayment obligation that fell due today, which will go to the IMF’s Executive Board in due course.”

(Editor’s note: Bold added for emphasis)

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Tuesday, June 30th, 2015 Debt Crisis, Defaults, Europe No Comments
Survival And Prosperity
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Christopher E. Hill, Editor

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