Experts Warning of Coming Global Financial Meltdown

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From Bank of America’s head of global technical strategy warning that the U.S. dollar is in serious trouble, to Capitol One’s unprecedented policy change where they will now show up at Credit Card users homes to collect on debts, it seems even the big banks are going into panic mode.

In spite of all the government media propaganda, the warning signs are getting harder and harder to ignore. The fact is, our economy has teetered on the edge of the financial abyss for quite some time; and with the government now racking up over $1 trillion dollars a year in debt, it’s only a matter of time before the house of cards comes crashing down.

U.S. about to hit the Debt Ceiling Yet Again…

We are now only a couple of weeks away from another possible government default, as Treasury Secretary Jack Lew warns the government will run out of money to pay the nation’s bills, unless congress yet again raises the federal debt limit.

As part of the so-called budget deal that reopened the government last October, Congress suspended the $16.7-trillion debt limit through Feb. 7, 2014. With that deadline now passed, we’re now only weeks away from another possible default, causing some to wonder how much more this economy can take. In fact, former Harvard Economist Terry Burnham is so worried that he pulled all of his money out of Bank of America, and started warning everyone that they might want to consider doing the same.

Bank of America Warning the U.S. Dollar is in Trouble

Earlier this week, MacNeil Curry, Bank of America’s head of global technical strategy warned the U.S. Dollar was in serious trouble. Curry says, global financial and commodity markets are warning that the US Dollar is in for a bout of trouble.

Curry points out that Gold was the first to make its low against the US Dollar, doing so back on Dec-15. The second market to turn against the US Dollar was US Treasuries, with Ten year note futures turning bullish back on Dec-26.

Capitol One says they have Right to Show up at Credit Card Users Homes

If you have a Capitol One Credit card you might want to take a look at your contract, because recent changes in the company’s policy mean they can literally drop by your home anytime they want.

According to the LA Times, Capitol One has updated their contracts so they can contact its customers “in any manner we choose,” including via phone, text, email, fax or even a “personal visit.” The really creepy part of the policy change is these visits can be “at your home and at your place of employment.”

In my opinion, these types of policies are a direct response to the very real trouble our economy is in. These banks know they’re in trouble, and I think they are operating in crisis mode.

I believe we are very close to reaching a level of deficit spending and debt at which the rest of the world starts to lose faith in the dollar, and starts to pull their investments. At a certain point, the $1 trillion dollars a year in debt our government is racking up is going to cause that loss of confidence, and when that happens it’s pretty much game over.

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Responses to " Experts Warning of Coming Global Financial Meltdown " Please share your thoughts...

  1. phoenix_fly14 says:

    I just read this today in the news, about Capital One. That’s so creepy, glad I don’t have them. However, other banks will probably follow suit.

    • Falcon` says:

      And I reserve the right to shoot unlawful trespassers on sight.

      • keeb says:

        never take another one’s life and
        only if you are assured they are a threat on your life.

        • John Hammer says:

          They make a choice to trespass on property, they should know what the potential outcomes are. Failure for them to perform their own due diligence is their own fault and done so at their own peril

    • JAS says:

      You have hundreds of people who have lost their jobs and are about to loose their home and everything else they have and they think showing up on their door step is going to be a good idea. I was really shocked when I saw this. How many of them will be beat to within an inch of their lives, before Capital One changes that policy. When one has nothing more to loose, they can be pushed over the edge very easily.

      • Woodchuck says:

        They might just request a Civil Standby from your friendly militarized police department as they visit.

  2. scoutsout says:

    Of course other banks will. The banks don’t care about crap except their money. They don’t care about individuals, businesses, their workers. Hell they don’t even care enough about the Cbyer Terrorist from breaking into their databases, latest one being Wells Fargo, the banks are going to do whatever they can to get their money.

  3. Mike says:

    As longs as I am paying, they better not show up.

  4. Amanda says:

    This economic fall was predicted a long time ago, and no one listened. But I would agree things are not going well at all, and I suspect that it will collapse soon. It is time to stock up and find a way quickly to prepare for the worst.

  5. Village says:

    Congress has already passed the situation with the debt ceiling. Republicans took it too far the last couple times.

  6. Cooter says:

    If ya haven’t read, or are curious about a likely scenario of what economic collapse might bring, look up this book on Amazon or wherever… “Patriots” by John Wesley Rawles. Good storyline with a lot of prepper knowledge and need to know stuff!

  7. Shocked says:

    In Oklahoma we have our “Make My Day Law”. Additionally all one has to do is to post a “Posted – Keep Out” sign in the yard and if they enter your property, take what ever action you wish.

    My neighbor says,”…Come on over fellows and ring the door bell as a big surprise is waiting for you…”

  8. Redstarbear says:

    Show up at my home and try and essentially mug me? Ha!
    1)”Please leave”
    2)”oh no you really think so” Clack Clack
    3) boom!

  9. It’s got to the point now where not only is the writing on the wall but lit up in neon red. Sadly, I think articles like this are preaching to the choir and there are still many people who simply refuse to see that neon sign. Perhaps that will change as the stakes get higher.

    When Russia collapsed it had a very solid social fabric and state infrastructure which helped families survive. In America no such safety net exists. That being so, if it is at all possible, I’d recommend Americans get the hell out of dodge while you still can.

    My view is that 2014 – 2017 are going to be the crucial years where cartel capitalism, geopolitical strategy and social unrest will fuse to a point of no return. Environmental and even cosmological phenomena will prove to be the game-changer in the long run.

    Best to all.

  10. awka says:

    I thought it was creepy when friends called the police to report someone skulking around their home with a camera, peeking in windows, etc. only to find out that it was their MORTGAGE company, claiming similar rights. They were not late on payments or anything else, but the mortgage company apparently can come and “make sure you really live there.” Without any notice.

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