PHOTO CREDIT: KENT PORTER/ PD
A few days before the Financial Collapse
Here is a very likely scenario. “Government agencies are having difficulty making their payments. State governments are issuing vouchers to pay their bills. US Social Security is late in issuing its payments to retirees and the disabled. Many banks are issuing warnings about liquidity. The prices of food are escalating by the hour. Instead of talking about the latest inane reality TV show, everyone is talking about inflation, money, mass layoffs, etc. It is 5 days before the economic collapse.” So, what do you do?
Our current recession/depression is slow creeping at this point towards a bad outcome.
Looking ahead, the world remains very much trapped in the mother of all global financial bubbles. This is obvious, a given. Markets were priced for “perfection,” and now, following even more of the greatest monetary stimulus in human history (much of it in the span of just the last few weeks), they’re still priced for “really good”—still very expensive.
The world’s top wheat exporter, Russia, has capped grain shipments until July as the government quota to secure the domestic market amid the coronavirus crisis has been reached.
Moscow introduced export limits for certain grains, including wheat, rye, barley, and corn.
While the statement did not mention the Covid-19 outbreak, the ministry earlier said that the measure is necessary to provide the domestic food market with essential supplies.
Almost a third of U.S. pork capacity is down, the first big poultry plants closed on Friday and experts are warning that domestic shortages are just weeks away. Brazil, the world’s No. 1 shipper of chicken and beef, saw its first major closure with the halt of a poultry plant owned by JBS SA, the world’s biggest meat company. Key operations are also down in Canada, the latest being a British Columbia poultry plant.
BOTTOM LINE: Many reports claim the shortages are “coming,” and some others continue to insist it isn’t really a shortage, but that is a mere technicality because if it cannot be restocked, or the grocers cannot obtain it, then it is certainly a shortage for those trying to buy it.
As the coronavirus outbreak ravages on, Tyson Foods has a dark warning for Americans: “The food supply chain is breaking.”
“As pork, beef and chicken plants are being forced to close, even for short periods of time, millions of pounds of meat will disappear from the supply chain,” John Tyson, chairman of the Tyson Foods board, wrote.
“As a result, there will be limited supply of our products available in grocery stores until we are able to reopen our facilities that are currently closed,” he said.
The destiny of the world is now in the hands of 6 central banks, the Fed, ECB, BoE (England), PBOC (China), BoJ (Japan), SNB (Swiss). This in itself bodes very badly for the global financial system.
WORTHLESS MONEY PRINTING LEADS TO WORTHLESS ASSETS: The central banks are now panicking and are creating trillions of dollars, euros, etc. Add to that additional bank lending and government debt and we are in the tens of trillions of dollars…
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