London trader predicts market will crash and bank savings will disappear- BBC video

25 Responses to London trader predicts market will crash and bank savings will disappear- BBC video

luisport says:

September 26, 2011 at 3:15 pm

George Soros said on Saturday on CNN that failing to resolve the sovereign debt crisis in Europe could lead to a “real meltdown” of the global financial system.

And suddenly, he’s not convinced that authorities can do what it takes to resolve it.

Last week he still had faith. He explained on CNBC on Wednesday that what’s happening in Europe is a situation that’s “more dangerous” than Lehman. (Videos below.)

He said that to resolve it, 2 or 3 of the smaller countries could default and leave the Euro, provided its preprared in an orderly way. If it were disorderly un-preprared, it could disrupt the global financial system.

However, he said, the authorities will do whatever it takes to keep the system together. “Because the alternative is just too terrible to contemplate.”

Days later he said on CNN on Saturday that leaders must convince voters to help the troubled euro area nations overcome their money problems, because “the alternative is a breakdown of the global financial system, a real meltdown.”

He said again that the situation is worse than Lehman. But this time he said – “This time it could not be stopped because you don’t have the authorities to stop it.”

Now it seems George Soros agrees with Hugh Hendry, who said that politicians cannot resolve what’s going on in Europe.

Read more: http://www.businessinsider.com/soros-euro-crisis-to-trigger-breakdown-meltdown-global-financial-system-2011#ixzz1Z4WLUlhU

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- NickK0 says:
  
  September 26, 2011 at 5:12 pm
  
  “Now it seems George Soros agrees with Hugh Hendry, who said that politicians cannot resolve what’s going on in Europe.”
  
  This *may* still be ‘resolvable’, at this point.
  
  My opinion is that, Soros is not saying that it is impossible to fix the issue, but that, ‘in practical terms’, Europe may not have the Political will, to follow through with the solutions.
  
  An ‘orderly’ default, might be one of the best ways of solving this scenario.
  The problem is, in actually going ahead, and ANNOUNCING such a plan, and then doing it.
  The World’s economies, are now Hostage, to the markets and their investors / speculators. 😦
  
  – Nick
  
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  - acta non verba says:
    
    September 27, 2011 at 11:56 pm
    
    Why do you all point your fingers at europe?? What about warhungry U.S and it`s billions in debt that grows every day? the true problem here is IMF and the euro because it has allways been an illusion
    
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Dan says:

September 26, 2011 at 3:55 pm

Now that was a nice uplifting clip for a Monday!!!! Cheerio….

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otay1 says:

September 26, 2011 at 4:12 pm

Anyone else find it ironic that the deeply in trouble USD stands to become ‘refuge’ for investors and thereby increase in value (on paper).as a result of europe’s failing countries? To me this reminds me of choosing Leprosy instead of the alternative Black Death.
The cynicism and cold cleverness of this chessgame is breathtaking.

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- Virgilio Gomes Rei says:
  
  September 26, 2011 at 10:34 pm
  
  I second you, USD does not look like the right alternative at the moment.
  
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  - LA says:
    
    September 28, 2011 at 7:01 am
    
    As bad as it is, i think many investors still see it as good because it is still the global reserve currency. If the USD loses that status the story may change.
    
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Richard Habgood says:

September 26, 2011 at 4:35 pm

Best get learning fast

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Christopher says:

September 26, 2011 at 5:16 pm

Goldman Sachs: is a “vampire-squid wrapped around the face of humanity, relentlessly shoving its blood funnel anywhere that smells like money..”

Matt Taibbi, Griftopia

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Suanne says:

September 26, 2011 at 5:30 pm

On the home page you have the waterspout video posted under this story.

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- The Extinction Protocol says:
  
  September 26, 2011 at 5:34 pm
  
  It may be a saved link…but if you hit homepage on the article it should lead you to the top stories
  
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Michele B says:

September 26, 2011 at 7:35 pm

And the closer we come to the “savior” (i.e., beast) stepping in to save us all with a “brand new” plan for a one-currency world financial system. It is so fascinating to live in these times and see prophecy being fulfilled so dramatically.

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pjamesbda says:

September 26, 2011 at 9:18 pm

This idiot will be eating out of a trash can inside of a year…because he forgot about gangs of thieves!! (and no law enforcement) but he thinks his wealth has nothing to do with what the rest of us pay for. This IS the failure. We’re here people.

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- The Extinction Protocol says:
  
  September 26, 2011 at 9:46 pm
  
  I don’t think people understand the concept of what implies to this endtime that when money is worthless…that means all money. Even revenue hatched and devised by scheming, hedging and acquired by ill-gotten gain. The ownership of percious metals will also likely be regulated as it was during the Great Depression. If the Bible warns in the endtime, “no man might buy or sale” that’s telling us you’ll need some special type of authority to engage in commerce of any kind so the powers that be can recieve their tax revenue first. The only way to end and control the financial abuse that brought down the system is to do away with all cash and completely control all purchases…and that day is coming. If your country is bankrupt, and your currency is worthless from soveign debt, hyperinflation or overprinting; the simple solution that will be imposed by the coming theocratic NWO is do away with paper altogether and restrict the day when these transactions can happen. Revelation 13
  
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Craig S says:

September 26, 2011 at 10:35 pm

These are not end times as such, just the end of the false times we believe in. It is time for an Awakening. The world we live in is an illusion because we chase illusory, unimportant things. Capitalism is the embodiment of evil because it devalues people and that is against God. As Martin Luther King jnr said 50 years ago:

“We must rapidly begin the shift from a thing-oriented society to a person-oriented society. When machines and computers, profit motives and property rights are considered more important than people, the giant triplets of racism, militarism and economic exploitation are incapable of being conquered. A nation can flounder as readily in the face of moral and spiritual bankruptcy as it can through financial bankruptcy.”

It’s about time we rediscovered the word ‘Peace’ not ‘Profit’.

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Friend of Christ says:

September 26, 2011 at 11:02 pm

Perfect. Now I can soon start living. You know, growing my own food, provide shelter for my family, living for GOD, exc…..Finally, it begins, sigh of relief. Ever so closer to the great tribulation.

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richard says:

September 26, 2011 at 11:40 pm

Does anyone really know what’s going on?

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Irene Carmichael says:

September 27, 2011 at 1:24 am

“Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.” James 5:6

Just my thoughts too.

Maranatha

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Colleen Tabitha says:

September 27, 2011 at 2:29 am

I dont worrie I got Jesus!

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Bone Idle says:

September 27, 2011 at 5:53 am

Some quotes from the clip

The governments don’t rule the world. Goldman Sachs rules the world. They don’t care about this rescue package (The 2 trillion rescue package)

Within 12 months, millions will have lost all their savings. And this is just the start!

This problem is like an ever growing cancer. You can’t ignore it and hope it goes away

Start Preparing now.

This is scary stuff.

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Tina Marie says:

September 27, 2011 at 6:17 am

This makes me wonder if politicians, such as Ron Paul, who want to take us back to the gold standard are really part of this masterplan to make paper money useless. I also remember reading back when the EURO’s system was first adopted that it was a bad idea and we would one day see a finacial collapse as a result of it. I agree with both Alvin and Craig S, each in a different way. We will see a time when nothing can be bought or sold without the “mark” or authority of another but as Craig said it doesn’t have to be the end times, just the end of a time when greed and power rule and people go back to a more simple time where society looks out for the greater good of each other rather than the greater good of themselves. I love your closing qoute Craig…”it’s about time we rediscovered the word peace and not profit” A society driven by wealth (capitolism) instead of well being hasn’t and isn’t ever going to work.

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luisport says:

September 27, 2011 at 2:36 pm

The Age of Austerity has arrived with a vengeance in U.S. cities.

City budgets shrank 1.9% in 2011 after 4.4% declines in 2010, according to the annual report from the National League of Cities (via Morning Money).

City revenues declined 2.3% this year for the fifth straight year of declines.

While tax revenue and state and federal aid decline, costs are increasing including pensions and health care. Cities have responded with layoffs, hiring freezes, pay cuts and service cuts.

If the economy doesn’t get better soon, Meredith Whitney may be looking good.

Read more: http://www.businessinsider.com/national-league-of-cities-revenue-collapse-2011-9#ixzz1ZACvbljc

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nickk0 says:

September 28, 2011 at 2:32 am

Rita –
Doing oneself in, really won’t be required….. There are plenty of other things ( epidemics, lack of access to health care, exposure, environmental catastrophe, civil disturbances, etc.) that can do the job for us. 😐

– Nick

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minde says:

October 4, 2011 at 9:45 pm

If U hawe money and dont know where to put them buy a land,land is only safe investment or in a worst scenario you can live on that land and grow your food

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- The Extinction Protocol says:
  
  October 5, 2011 at 1:08 pm
  
  Prudent advice….
  
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