The financial meltdown occurring in the USA and worldwide has claimed its first millionaire suicide! Expect more.
Details Here
September 27, 2008
September 26, 2008
MONDAY: ALL HELL TO BREAK LOOSE
Those of you who have been following my former radio show and now, this blog, know that I have a very good track record of telling you what's coming in the markets and when.
Tonight, as I write, it is Friday, September 26 at 7:05 PM and I regret to tell you that Monday all hell is going to break loose.
The reason President Bush, Treasury Secretary Paulson and Federal Reserve Chairman Ben Bernanke pushed so hard for Congress to act this week was because they knew that the last hour of trading last Friday was a "quadruple witching hour." During that hour, contracts for stock index futures, stock index options, stock options and single stock futures (SSF) all expire.
Quadruple witching hours occur only four times a year, on the third Friday of March, June, September and December.
Bush, Paulson and Bernanke knew that if a solution was not found by close of business today, they could not hold off the rest of the world any longer. The markets would start plummeting in Asia on Sunday night (East coast time) because with all the options and futures having now expired, the market is free to "correct" itself.
Congress has now failed to act, the quadruple witching hour has taken place and there is no bailout.
If Congress does not get a Bill passed by Sunday night, we should expect all hell to break loose when Asian markets open and the "correction" hits. Look for a severe, fast, downward spiral.
I'm talking about worldwide economic calamity beginning Sunday in Asia and spiraling out of control within a week or so. Two weeks tops.
If I am right (and I hope I am not) the world will see a financial catastrophe that will make "the great depression" look like a walk in the park.
Here's what you need to do this weekend
If you haven't taken my advice and gotten out of the markets already, you're too late. The only thing you can try to do now is prepare for the fallout of the worldwide economic collapse.
Go out and get yourself canned foods; enough to feed your family for a month or two.
In addition to canned foods, go out and buy 50lb bags of rice and oatmeal. You can use the rice as a bed for the canned foods for lunch and dinner and the oatmeal for breakfast. You may want to grab some honey and / or brown sugar to put on the oatmeal. You should also have dry milk powder to be able to mix with water to make milk.
If you do not yet have a gravity-fed water filter, go get one.
If you do not yet own guns to protect yourself and your family, try to buy one over the weekend. If you already own guns, get ammunition.
The reason you'll need the weapons is because civil unrest is likely to begin very quickly.
With economic collapse, supermarkets will run out of food fast. Roving bands of savage beasts will quickly realize they're hungry and come for your food. If you cannot protect yourself, they will kill you to get it.
The police will be totally overwhelmed rather quickly, so 911 won't be any help for you.
The cities will become nightmares within days and once the cities are emptied of food, the savages will have to come to the suburbs to get more. Rest assured, they will come.
Get together with your neighbors to form neighborhood defense teams. Get Family Radio Service walkie-talkies or CB radios and have them on a set channel for your neighborhood. If trouble comes, EVERYONE in the neighborhood must respond and use all deliberate force to restore order.
I hope this information helps.
Hal Turner
Tonight, as I write, it is Friday, September 26 at 7:05 PM and I regret to tell you that Monday all hell is going to break loose.
The reason President Bush, Treasury Secretary Paulson and Federal Reserve Chairman Ben Bernanke pushed so hard for Congress to act this week was because they knew that the last hour of trading last Friday was a "quadruple witching hour." During that hour, contracts for stock index futures, stock index options, stock options and single stock futures (SSF) all expire.
Quadruple witching hours occur only four times a year, on the third Friday of March, June, September and December.
Bush, Paulson and Bernanke knew that if a solution was not found by close of business today, they could not hold off the rest of the world any longer. The markets would start plummeting in Asia on Sunday night (East coast time) because with all the options and futures having now expired, the market is free to "correct" itself.
Congress has now failed to act, the quadruple witching hour has taken place and there is no bailout.
If Congress does not get a Bill passed by Sunday night, we should expect all hell to break loose when Asian markets open and the "correction" hits. Look for a severe, fast, downward spiral.
I'm talking about worldwide economic calamity beginning Sunday in Asia and spiraling out of control within a week or so. Two weeks tops.
If I am right (and I hope I am not) the world will see a financial catastrophe that will make "the great depression" look like a walk in the park.
Here's what you need to do this weekend
If you haven't taken my advice and gotten out of the markets already, you're too late. The only thing you can try to do now is prepare for the fallout of the worldwide economic collapse.
Go out and get yourself canned foods; enough to feed your family for a month or two.
In addition to canned foods, go out and buy 50lb bags of rice and oatmeal. You can use the rice as a bed for the canned foods for lunch and dinner and the oatmeal for breakfast. You may want to grab some honey and / or brown sugar to put on the oatmeal. You should also have dry milk powder to be able to mix with water to make milk.
If you do not yet have a gravity-fed water filter, go get one.
If you do not yet own guns to protect yourself and your family, try to buy one over the weekend. If you already own guns, get ammunition.
The reason you'll need the weapons is because civil unrest is likely to begin very quickly.
With economic collapse, supermarkets will run out of food fast. Roving bands of savage beasts will quickly realize they're hungry and come for your food. If you cannot protect yourself, they will kill you to get it.
The police will be totally overwhelmed rather quickly, so 911 won't be any help for you.
The cities will become nightmares within days and once the cities are emptied of food, the savages will have to come to the suburbs to get more. Rest assured, they will come.
Get together with your neighbors to form neighborhood defense teams. Get Family Radio Service walkie-talkies or CB radios and have them on a set channel for your neighborhood. If trouble comes, EVERYONE in the neighborhood must respond and use all deliberate force to restore order.
I hope this information helps.
Hal Turner
September 25, 2008
Washington Mutual FAILS - as reported by me over 1 week ago
As previously reported by this blog (here) Washington Mutual Bank has been seized by federal regulators as of Thursday evening.
Details Here
Details Here
China banks told to HALT lending to U.S. banks
It had to happen sooner or later and China had to be first because they hold so many "dollars" in their national reserves. Folks, this is the clearest sign yet that the financial plug is being pulled on the United States.
Through its rampant deficit spending, our government has ruined this nation. They have run up over nine trillion dollars in national debt.
Through its politically-correct mandates to lend to minorities without checking their credit, verifying their employment or other normal credit vetting, the government caused the sub-prime mortgage crisis.
Governments around the world know our government is bankrupt. They know our government has little chance of paying off its debt. Now one such government, China, has told its banks to halt lending to U.S. banks. This will cause other countries to do the same.
With lending cut off, the United States will succumb.
Details Here
Through its rampant deficit spending, our government has ruined this nation. They have run up over nine trillion dollars in national debt.
Through its politically-correct mandates to lend to minorities without checking their credit, verifying their employment or other normal credit vetting, the government caused the sub-prime mortgage crisis.
Governments around the world know our government is bankrupt. They know our government has little chance of paying off its debt. Now one such government, China, has told its banks to halt lending to U.S. banks. This will cause other countries to do the same.
With lending cut off, the United States will succumb.
Details Here
September 24, 2008
LARGEST CHEVY DEALER IN U.S. SHUTS DOWN; UNABLE TO FINANCE
America's largest Chevy dealer will shut its doors at close of business tonight, unable to obtain financing to restore its inventory.
This is exactly what I warned would begin happening. Those of you who followed my radio show as early as November 2006 will recall me telling you that if credit dries up, employers will not be able to finance payrolls, businesses will not be able to re-stock, manufacturers will not be able to get raw materials. It has now begun.
This is going to spread like wildfire. As business after business finds itself unable to get financing to re-stock, more and more of them will shut down. Displaced employees will no longer get paychecks, thus worsening the defaults in credit and mortgages.
This is going to be terrible for the USA, folks. I hope all of you heeded my warnings, stocked up on food, guns and ammunition. You're gonna need them.
Full details here
This is exactly what I warned would begin happening. Those of you who followed my radio show as early as November 2006 will recall me telling you that if credit dries up, employers will not be able to finance payrolls, businesses will not be able to re-stock, manufacturers will not be able to get raw materials. It has now begun.
This is going to spread like wildfire. As business after business finds itself unable to get financing to re-stock, more and more of them will shut down. Displaced employees will no longer get paychecks, thus worsening the defaults in credit and mortgages.
This is going to be terrible for the USA, folks. I hope all of you heeded my warnings, stocked up on food, guns and ammunition. You're gonna need them.
Full details here
US ARMY DEPLOYS COMBAT BRIGADE FOR DOMESTIC U.S. OPERATIONS!!!
Army Unit to Deploy in October for Domestic Operations
Beginning in October, the Army plans to station an active unit inside the United States for the first time to serve as an on-call federal response in times of emergency.
The 3rd Infantry Division's 1st Brigade Combat Team has spent thirty-five of the last sixty months in Iraq, but now the unit is training for domestic operations. The unit will soon be under the day-to-day control of US Army North, the Army service component of Northern Command.
The Army Times reports this new mission marks the first time an active unit has been given a dedicated assignment to Northern Command. The paper says the Army unit may be called upon to help with civil unrest and crowd control. The soldiers are learning to use so-called nonlethal weapons designed to subdue unruly or dangerous individuals and crowds.
It is no coincidence that the Army is making this deployment at this time. The "powers-that-be" know the US Financial meltdown is coming; and it will unleash massive civil unrest. They are quietly planning to use force against OUR OWN PEOPLE!
Things are quickly coming to a head, folks. Prepare yourselves.
Beginning in October, the Army plans to station an active unit inside the United States for the first time to serve as an on-call federal response in times of emergency.
The 3rd Infantry Division's 1st Brigade Combat Team has spent thirty-five of the last sixty months in Iraq, but now the unit is training for domestic operations. The unit will soon be under the day-to-day control of US Army North, the Army service component of Northern Command.
The Army Times reports this new mission marks the first time an active unit has been given a dedicated assignment to Northern Command. The paper says the Army unit may be called upon to help with civil unrest and crowd control. The soldiers are learning to use so-called nonlethal weapons designed to subdue unruly or dangerous individuals and crowds.
It is no coincidence that the Army is making this deployment at this time. The "powers-that-be" know the US Financial meltdown is coming; and it will unleash massive civil unrest. They are quietly planning to use force against OUR OWN PEOPLE!
Things are quickly coming to a head, folks. Prepare yourselves.
Money Markets In Absolute Turmoil Wednesday; Described by experts as being "seized up"
As I warned yesterday, the markets are not safe and today's turmoil in the Money Markets proves me right.
Banks are not lending to each other and in the rare case that they do, the rates they are charging are exorbitant. Credit is almost completely unavailable now.
If this persists, and it is likely to do just that, the economy will simply stop as businesses are unable to fund payrolls, fund raw materials for manufacturing, fund inventory re-stocking.
We are so close to absolute financial collapse that I cannot tell you strongly enough: GET OUT NOW.
Details Here
Banks are not lending to each other and in the rare case that they do, the rates they are charging are exorbitant. Credit is almost completely unavailable now.
If this persists, and it is likely to do just that, the economy will simply stop as businesses are unable to fund payrolls, fund raw materials for manufacturing, fund inventory re-stocking.
We are so close to absolute financial collapse that I cannot tell you strongly enough: GET OUT NOW.
Details Here
Credit-Rating Giants, S&P and Moody's turned blind eyes to junk mortgages; gave many AAA ratings!!
As the financial crisis continues, it has been revealed that the two largest credit rating services in the country took shortcuts in rating mortgage debts and CDO's.
They allegedly rated junk debt as Triple A to induce Pension Funds and other investors to buy-up that junk debt.
If true, this would be a breach of fiduciary trust and perhaps intentional fraud. We're talking criminal acts here!
If investigators determine these firms perpetrated these types of criminal acts, the firms should be seized as profits from a criminal enterprise. Let the liars feel the fallout from their own lies.
Complete Details Here
They allegedly rated junk debt as Triple A to induce Pension Funds and other investors to buy-up that junk debt.
If true, this would be a breach of fiduciary trust and perhaps intentional fraud. We're talking criminal acts here!
If investigators determine these firms perpetrated these types of criminal acts, the firms should be seized as profits from a criminal enterprise. Let the liars feel the fallout from their own lies.
Complete Details Here
September 23, 2008
*** URGENT *** TREASURY SECRETARY AND FEDERAL RESERVE CHAIRMAN "TICKED-OFF" AT OBSTINATE CONGRESS; WILL PLAY HARDBALL BY REFUSING FURTHER INTERVENTION
*** BREAKING NEWS ***
Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke departed Capitol Hill Tuesday allegedly quite perturbed at the "obstinate" attitude of Congress over their $700 Billion financial bail-out request!
Both men answered scores of questions in front of the Senate Banking Committee and both reportedly felt as though Congress refused to acknowledge the urgency of the situation.
I am told the real fireworks took place after the public hearings, behind closed doors in the Senate. According to one senate staffer who claims to have witnessed the exchange, Senator Chris Dodd allegedly ripped-into Henry Paulson asking who the hell he thought he was dealing with by demanding Congress just fork-over hundreds of billions of dollars in under a week?
Paulson allegedly replied, "do whatever you want but as for the Treasury, we will not be intervening any further in the markets. When the markets crash, the banks crash and the economy goes under - and they will - the voters will blame you and dump all of you this November!"
Senator Dodd allegedly got so furious at this reply that his face turned beet red and he started roaring curses at Paulson with phrases along the lines of "you fucking Wall Street douchebags. . . ." The senate staffer said Dodd and Paulson almost came to blows!!
If Paulson and Bernake do as is alleged, and refuse to further intervene into the markets, things will go downhill very fast - maybe by the end of this week. Stay tuned and spread the word: Get out of the markets now. Don't wait.
Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke departed Capitol Hill Tuesday allegedly quite perturbed at the "obstinate" attitude of Congress over their $700 Billion financial bail-out request!
Both men answered scores of questions in front of the Senate Banking Committee and both reportedly felt as though Congress refused to acknowledge the urgency of the situation.
I am told the real fireworks took place after the public hearings, behind closed doors in the Senate. According to one senate staffer who claims to have witnessed the exchange, Senator Chris Dodd allegedly ripped-into Henry Paulson asking who the hell he thought he was dealing with by demanding Congress just fork-over hundreds of billions of dollars in under a week?
Paulson allegedly replied, "do whatever you want but as for the Treasury, we will not be intervening any further in the markets. When the markets crash, the banks crash and the economy goes under - and they will - the voters will blame you and dump all of you this November!"
Senator Dodd allegedly got so furious at this reply that his face turned beet red and he started roaring curses at Paulson with phrases along the lines of "you fucking Wall Street douchebags. . . ." The senate staffer said Dodd and Paulson almost came to blows!!
If Paulson and Bernake do as is alleged, and refuse to further intervene into the markets, things will go downhill very fast - maybe by the end of this week. Stay tuned and spread the word: Get out of the markets now. Don't wait.
September 22, 2008
VINDICATED AGAIN: Expert says U.S Dollar will be "crushed" by bailout
As I told you months ago, weeks ago and earlier today, the US dollar is now in grave danger of collapsing as a currency.
Details Here
Details Here
Last two Wall Street Investment houses gone! Goldman Sachs and Morgan Stanley convert themselves to banks.
The Wall Street that shaped the financial world for two decades ended last night, when Goldman Sachs Group Inc. and Morgan Stanley concluded there is no future in remaining investment banks now that investors have determined the model is broken.
The two companies made application to become Banks and the Federal Reserve approved the applications in one day over the weekend.
Details Here
The two companies made application to become Banks and the Federal Reserve approved the applications in one day over the weekend.
Details Here
September 21, 2008
VINDICATED AGAIN: NY Post confirms economy was 500 stock trades away from "Armageddon"
I must confess that I never, in my wildest imagination, thought the government would take on another TRILLION in debt to allay fears and delay the financial meltdown I had warned about.
So what do all the nay-sayers who smeared and belittled my projections have to say now that I was proved 100% right?
Incidentally, this is not over; not by a long shot. In fact, the "bail out" plan is not only going to fail, it is going to make the failure even worse.
The reason the US Treasury came up with a "bail out plan" is because the US Federal Reserve is broke; our central bank has no money at all to lend. They needed the Treasury to step-in to PRINT the Trillion dollars they need for the bail out.
The printing presses are already cranking out cash but the rest of the world is not fooled. They now realize that all U.S. Government debt (Bonds etc) is totally worthless because the US has been reduced to a banana republic that prints money to pay its bills.
In the not-so-distant future, the value of the US dollar will suddenly and dramatically plummet against world currencies as one or more governments finally decide to dump the US dollars they hold and reject the Dollar as a currency. Once that happens, and it WILL happen, the rest of the world will dump dollars and that will be the end.
The US Treasury will then be left with no choice but to "de-monetize" the dollar, making all dollar assets instantly worthless. Everyone who has "dollars" in any type of account or stock, will instantly find all their holdings are not considered "money" anymore. They will be instantly destitute.
As the country reels from the shock, the government will explain why the only way to salvage anything at all is to introduce new money "THE AMERO" and merge the U.S. with Canada and Mexico creating a new nation called the North American Union.
The citizens of those three nations, in hope of salvaging their life savings, will embrace the merger as "the only solution" and America as we know it will be gone forever.
Want to thwart their plans? Buy small amounts of gold and silver bullion and take delivery of the metal.
Also, open foreign bank accounts and wire transfer some of your cash to those accounts, to be held in the LOCAL currency: British Pounds, Swiss Francs, German Deutschmarks but NOT "The EURO."
The EURO is a totally worthless fiat currency backed with nothing and by no one.
Between the gold, silver and foreign currencies you hold, you may avoid being totally destitute when the big shots pull the plug on the Dollar.
Details Here
So what do all the nay-sayers who smeared and belittled my projections have to say now that I was proved 100% right?
Incidentally, this is not over; not by a long shot. In fact, the "bail out" plan is not only going to fail, it is going to make the failure even worse.
The reason the US Treasury came up with a "bail out plan" is because the US Federal Reserve is broke; our central bank has no money at all to lend. They needed the Treasury to step-in to PRINT the Trillion dollars they need for the bail out.
The printing presses are already cranking out cash but the rest of the world is not fooled. They now realize that all U.S. Government debt (Bonds etc) is totally worthless because the US has been reduced to a banana republic that prints money to pay its bills.
In the not-so-distant future, the value of the US dollar will suddenly and dramatically plummet against world currencies as one or more governments finally decide to dump the US dollars they hold and reject the Dollar as a currency. Once that happens, and it WILL happen, the rest of the world will dump dollars and that will be the end.
The US Treasury will then be left with no choice but to "de-monetize" the dollar, making all dollar assets instantly worthless. Everyone who has "dollars" in any type of account or stock, will instantly find all their holdings are not considered "money" anymore. They will be instantly destitute.
As the country reels from the shock, the government will explain why the only way to salvage anything at all is to introduce new money "THE AMERO" and merge the U.S. with Canada and Mexico creating a new nation called the North American Union.
The citizens of those three nations, in hope of salvaging their life savings, will embrace the merger as "the only solution" and America as we know it will be gone forever.
Want to thwart their plans? Buy small amounts of gold and silver bullion and take delivery of the metal.
Also, open foreign bank accounts and wire transfer some of your cash to those accounts, to be held in the LOCAL currency: British Pounds, Swiss Francs, German Deutschmarks but NOT "The EURO."
The EURO is a totally worthless fiat currency backed with nothing and by no one.
Between the gold, silver and foreign currencies you hold, you may avoid being totally destitute when the big shots pull the plug on the Dollar.
Details Here
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