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Dollar, Euro, Sterling May Be Destroyed Zimbabwe-Style
- Text size
Paul Joseph Watson
Prison Planet
Monday, October 13, 2008
Private investment advisor Martin Hennecke warned this morning that the endless printing of money to bail out collapsing banks would lead to hyperinflation and the Zimbabwe-style destruction of the dollar, euro and sterling.
Asked by CNBC how the three currencies could be destroyed, Hennecke, senior manager of private clients at Tyche, highlighted the collapse of Iceland’s banks.
“They have a lot of external debt in other currencies so they wouldn’t be able to print up more of their own currency – meaning hyperinflation to get out of their debt – but the UK, the U.S. and the rest of Europe could do it….this is the first step down the road to hyperinflation,” said Hennecke.
Noting that there was a gold rush and panic buying taking place while gold dealers worldwide had to close their doors, Hennecke agreed that gold prices would explode as hyperinflation crept up, and said that relatively modest overall price rises in the precious metal were partly a result of deleveraging as well as, “manipulation as the central bankers and the politicians don’t want you to panic out of their debt and go into gold.”
Hennecke dismissed the new rescue plans announced over the weekend as merely new taxpayer funded money being printed up and thrown at the problem, which will lead to accelerated inflation.
Asked if he believed whether the Euro and the U.S. dollar could go the way of the Zimbabwean dollar, which has suffered annual inflation of over 200 million per cent over the last few years, Hennecke responded, “Actually it’s interesting to know that the world’s leading standard rating agency Standard and Poor has predicted that all the major western governments are heading towards default on their sovereign bonds – that was predicted way before the crisis even started and now with tax revenues drying up and much much more money needed for these bailouts and privatizations of the banks to prevent a bank run, clearly that is likely to be happening earlier (rather) than later.”
“Most investors are saying cash is the safest thing but it might just turn around with cash being one of the highest risk investments if this inflation accelerates,” Hennecke concluded.
Early last month, before the collapse of Lehman Brothers and the announcement of the $700 billion bailout package, Hennecke warned that the U.S. and Europe were both heading for depression and that the U.S. would eventually be forced to announce national bankruptcy.
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October 13th, 2008 at 10:18 am
Looks like my decision to get sex change surgery and marry a big black guy were the right choices.
October 13th, 2008 at 10:55 am
Maybe I’m just cynical, but…the dollar dies, gold prices shoot into the stratosphere, people buy up all the gold they can, and the government makes it illegal to own it a la the 1930s.
October 13th, 2008 at 11:04 am
They can’t seize all the gold because it is TOO difficult to trace ALL of it. These yuppies will be sucking their thumbs and crying when the crap hits the fan. The ball game is over. The elite got what they wanted. I say leave the US and go someplace safe from this mess. It is going to be terrible.
October 13th, 2008 at 11:09 am
in response to #1
Ya and then the wall comes down moments later and all we are left with is an angrey inch !!!
October 13th, 2008 at 11:10 am
WTF are you talking about??!! Better get some precious metals and a shotgun.
October 13th, 2008 at 11:17 am
we can whine and complain all we want to but until we do something about this we are all screwed. the following video is an old school idea on how to get fix the problem in washington…
http://www.youtube.com/watch?v=0ogz1nMM2U4
October 13th, 2008 at 11:30 am
those with lots of grub, gold, guns and guts can survive thie crisis.
Those with lots of debt, denial, dishonor and dispare wont.
Its that simple people!
October 13th, 2008 at 11:30 am
BREAKING NEWS!!
Just got a call from a private source, but 99% credible.
Eight days ago (news was held up while source was in the field), the National Guard Armory in Pocatello, Idaho was seized by the U.S. regular Army and stripped of all weaponry. Everything from long range cannon to small arms.
These guys are the 148th Field Artillery Battalion They stripped it of all weaponry and ammo.
The CO asked “Why?” and was told “There’s gonna be a party this winter and you’re not invited!”
He was led to believe that this was a national happening, not just that armory.
I’ve called 5 other NG bases, but (for some odd reason) have received NO answer.
Any of you that have the ability (or strings) get on the phone and see if there’s verification from any of your sources.
[ Edited Sat Oct 11 2008, 06:02PM ]
October 13th, 2008 at 11:42 am
This is so obvious, we are paying off debt with debt. Once the dollar takes a good hit to the teeth this one is OVER!
October 13th, 2008 at 12:00 pm
They can make it illegal to own guns and gold all they want. I got a s--- load of both buried in the woods.
October 13th, 2008 at 12:11 pm
This is one reason why I keep calling this a “western crisis” instead of a “global crisis”. The nwo wants to use this “crisis’ to start a “global financial order”. Infowars even has it on another web-article.
October 13th, 2008 at 12:19 pm
http://www.youtube.com/watch?v=NRPLujl8v3s
October 13th, 2008 at 12:20 pm
if the economy completely collapses and the dollar becomes worthless, i think gold will lose its value too and food and water will become very valuable.
if you and your family are starving to death and have 5 pounds of gold would you trade it for 5 pounds of rice and 5 gallons of clean water?
i have about $35k in metals right now but am hesitant to buy more…
October 13th, 2008 at 12:36 pm
Dawg
The key is to have a ballance of metals and food. To have all metal is pointless. You have to have your priorities as food and water first, then gold and silver.
October 13th, 2008 at 1:13 pm
Damn it feels good to be a banksta….
October 13th, 2008 at 1:35 pm
time for a new american revolution
October 13th, 2008 at 1:42 pm
The third world is already living this..and luckily have been.
The thing I don’t get is somehow the currrencies of the US, UK and Europe are “worthless’ in present form(which they are all fiat currency backed by nothing more that the hope and trust of GVTs…
Yet all of a sudden you abandon three fiat forms of currency to adapt to one form of currency the now corrupt finacial systems of the world will somehow do well?
It seems obvious that everyone in the financiaal world is attempting a fix but no one is willing to seek, identfy and admit what the real problem is that got us all in this mess.
It isn’t just , mortgages, credit cards and GVT forcing loans … I am sure the answer is much simpler than that.. but the admission would causse a uprising ..
October 13th, 2008 at 1:55 pm
Haha, “banksta!”
Well, time to start saving food and learning some survival skills.
October 13th, 2008 at 1:56 pm
Hahaha, it gives me a good feeling as a poor man bcos those billionaires will be as bankrupt as I am.
Imaging getting a loaf of bread with one billion USD like in Zimbabwe!! At least we poor guys know how to make bread!!
October 13th, 2008 at 2:00 pm
Very important piece because it completely underscores how the US bond market can become unhinged in a relatively short time and go third world where it almost is now. Anyone have confirmation about the $800 million in Ameros alleged to have been shipped to The China Development Bank on 10/3/08 as payment to them on debt?
What has happened to Iceland is a complete nightmare. The IMF is no answer.
October 13th, 2008 at 2:02 pm
14 Apollo–you have it nailed except for one thing: you need weapons to defend yourself and loved oned and to keep the food, water, gold and silver you have worked so hard to stockpile.
And don’t for get to stockpile medicines, espically herbal ones.
October 13th, 2008 at 2:16 pm
If Iceland had nukes, they’d be heading for drugcenter-telaviv right about now.
October 13th, 2008 at 2:24 pm
heres the link for the amero story
http://www.fourwinds10.com/sit.....1222895365
October 13th, 2008 at 2:52 pm
Just as planned, here comes the amero. Also on the way….planet nibiru 2012 with Christs return on Pentecost of same year. Have a blast with our stolen money and dreams because the clock is ticking for you. Love to the non illuminati, one the remnant.
October 13th, 2008 at 3:15 pm
Mysty147 Post # 24 –
Who exactly is Sorcha Faal and what is the cerdibility bebhind this story.
http://www.google.com/search?h.....=f&oq=
The last thing we need in the world right now is a bunch of “chicken littles, running around yellyng the sky is falling. We already know our GVT has abandonded us as US citizens(and probably most other countries) …and we are going to have to do one of two things..
1. ) Simple. Do what GVT tells us to do..which then we will be a dictatorship style GVT. (Remember.. GVT does no generate money in the US..It taxes working people and takes it’s cut and redistributes the rest. GVT should have never been in the money business to begin with.. only IAW the US Constitution,
2. ) If the time ever becomes right..and people get tired of the lies and being ripped off and farmed like animals for their labor..perhaps they will get mad enough to figure out who caused the problem and act on thier emotions with reason.
After last Friday.. I don’t think there is any doubt that the US GVT no longer represents the US citizen.. It is just that 75% if the US population is to slow minded or choose to remain in denial “hoping GVT will make it better”. Some of these people are in for a BIG lifestyle change they are not going to want to make. Then we will see…
There is enough work ahead without this rumor BS… If it is the truth..we will find out soon enough. and the “Amero’s” given to China will either be good.. or bad money..depending on the decision of the AMrican people and the path they choose..
Our politicians may rebuke us now.. but hopefully one day those they serve will not protect them when they are forced to be accountable to us…
Whatever happens..It needs to go down in history accurately.. not the “sugar coated” history that we have been taught all our lives.
October 13th, 2008 at 3:58 pm
casual observer: thats an understatement esp. here in northern california. all i hear or read is taxpayer this taxpayer that, middleclass this middleclass that, veterans this veterans that, mccain or obama til i want to throw up. its like hovering above your own body watching all these rediculous arguements on how to punk your fellow man and justify their own behavior and beliefs. you can’t wake these people up. they are in a perpetual coma.
October 13th, 2008 at 4:14 pm
Look the writing is on the wall! WTF are some of these people talking about. The MSM has practically come out & told the American people Your f---ed, but just in a nicer way. What else do you need to know. Time to protect yourselves maybe trash the Tee-Vee & let your instincts kick in.
http://www.youtube.com/watch?v=NRPLujl8v3s
October 13th, 2008 at 4:41 pm
you can’t eat gold.
October 13th, 2008 at 4:49 pm
http://goatse.cz/ ZINOIST DARK HOLE sucks all your money
October 13th, 2008 at 5:02 pm
http://en.wikipedia.org/wiki/Wealth
October 13th, 2008 at 5:08 pm
http://en.wikipedia.org/wiki/Gold
October 13th, 2008 at 5:20 pm
Does anybody here see anything being done to stop this s---. I’m starting to think it will be every man/woman for him/herself when they throw it all the way in our faces. I know I’m stocking up on food and water but thats about it. Maybe I’ll meet some people that know later, cause I’ve only met two in a year so far since I’ve been in this town of 4000., and one moved away. Maybe thats a good thing. I guess I’ll find out.
October 13th, 2008 at 5:47 pm
#31
seek professional help
October 13th, 2008 at 6:51 pm
Glenn Beck is talking about a new world order, one world government, global currency and that maybe it was done on purpose. Now he’s talking about martial law being threatened to get the banker bill passed. Sounds like the fringe is slipping into the mainstream. The fringe is the future.
October 13th, 2008 at 6:51 pm
cant eat gold, and trade it for what? if it is worth so much, it will be a liability, …its heavy, stands out, and will get you killed if its traded for food….gold isnt the issue when fending for ones self, and family. it will be groups of trusted friends. food will be the main deal, then heat. fuel will be out of the question. there wont be any. storage of fuel now to use in the duration of change, canned food, seeds, nuts, grains…fire making capabilities. first aid. water filters/ p[urification. guns to protect the afore mentioned items and loved ones.
an other subject, did anyone see where this economic s--- is really caused by a hacker/hackers into the global banking system? I heard it on a “news” show…cnn, fox, cnbc, some s---….about the system had been compromised, and this may, I repeat may have been planned by a different source than we all suspect?? Anybody see that?
October 13th, 2008 at 7:01 pm
if i had 100 grand in paper & gold in 1970 the paper would have bought me 4 or 5 houses ,same with gold.today that same 100 grand in paper would buy u a 3rd of a house were as the gold would be worth 3 million & would still buy u 4 or 5 houses. the gold is still worth the same it was worth in 1970.all that has happened is there is way more paper money now than 1970.the more of something there is the less its worth. they have counterfit so much of our earned paper money that it is worthless. u cant counterfit gold so it holds its price as it cant be inflated like paper fiat money.
October 13th, 2008 at 7:44 pm
Yes I think that this is definately on the way!! We will have German like Weimar inflation on our dollar and their only way out for us is to completely have a one world banking system or they will propose their Amero – which is a combination of the American dollar and the Canadian dollar and the Mexican peso!! But that will buy us some time if they go that way and not slam us into a one world currency and a one world beast system economy!! But don’t worry!! The Great God of Heaven will disrupt some of their plans and then allow them to make His Children martyrs and then Jesus and His Mighty Angels will return and conquer the antichrist beast in hours and bring them all up to His Almighty Fathers Great White Throne and then have them all judged and thrown into the Great Lake of fire and brimstone!! While those of us who didn’t take the beast chip and those of who gave their lives to Jesus over the centuries will be living like gods and goddesses on the renovated and the beautified earth!!
October 13th, 2008 at 8:37 pm
listen, the way forward is to create a new resource based economy in which we all work to automate society, that way no one will have to work or worry about a primitive things like money or politics, we can incorporate democracy into the society we build, energy is free, food and water automated from aforementioned energy and factories that manufacture ‘desire’ based products can slowly be automated also, with little if any human intervention. im not talking communism, nor marxism, i talking anarcho-democracy, where there ARE NO LEADERS. there will be more than enough to go around and we can move on, as a race, to bigger and better things than all fighting in this little corporate induced zone of scarcity. it is a commonly accepted MYTH that money holds value. thats all it is, resources are what matter. if you are interested in the REAL truth, please watch this link:
http://video.google.com/videop.....7695921912
pay no attention to alex jones’ analysis, i believe he is just scared of change, he presents no solutions and critisises everything to a disempowering level (CIA funded?? anyone else remember that?)… which helps no-one, the linked film above provides real solutions that you can take today, for free, without buying anything from the film makers.
to the admin, please do not cencor my comment, provide contructive debate if you believe i am wrong in any way, i apologise in advance if ive stepped on anyones toes!
October 13th, 2008 at 9:24 pm
there pretty much chucking it in our faces now and these bailout plans hahahaha there a joke just the other day i was just coming in and i heard on the bbc news tht my mum was watching is Gordon brown with another in your face nwo speaches but everyone misses it??! and all this trying to desensitise people with terms like Alien invasion about insects and bats saying it all over again man this is a joke and i dont wanna hear the punchline! ( 3rdtime trying to post this!
October 13th, 2008 at 9:46 pm
Solutions:
1- The government has to completely sort out counterparty risk for credit default swaps and interest rate swaps or confidence will not return to the credit markets if the published figures are not “for real”.
The government is to make creditors and computerized derivatives speculators whole – and will act as collecting agent for the overhead of bad debts the economy has run up
A-The current failing financial panky dokes must be removed from their office before they finaly sink the ship while the piper still plays!?
Then who is gonna pay the piper?
2- Separate the bad mortgages from the good ones revalue the mortgage-backed securities accordingly.
- Stop expensive wars and bailouts.
3- Start restoring and renewing the infrastructure (Bridges, railroads, roads etc)
October 13th, 2008 at 10:33 pm
Derivatives at the heart of the crisis, catastrophic losses are inevitable, financial system headed for oblivion, the new world disorder, EU doomed, Credit Default Swaps at the heart of the problem, Plunge Protection Team history, coverups for globalization failures, Bloodbath for the Yen…and the story goes on, nevermine the euphoria of today’s records with the dow jones, it’s all engineered by the bankster mafia.
http://www.trippingelsalvador......ng-to-blow
EU and USA have declared economic war to Russia and Petroleum nations that’s why the russian market failed today and oil prices are falling, but Russia moved further to the Atlantic by buying Iceland debt positioning nearer to the USA.
October 13th, 2008 at 10:46 pm
#38, M you’re either insane or an spaced out idealist hippie! How can food production be automated to the point that food is “free”? Have you ever lived or worked on a farm? I will grant you that water should be free.
Your comment is missing the human factor: what is the population to do if everything is automated? What are you proposing for the people of the world that will not be working and simply doing nothing because everything is automated? Sounds like a very utopian belief and utopia is a Greek word that means “no where”. It can’t happen in current society with out the massive culling of the population of the earth!
I have seen Zeitgeist:Addendum and it is very educational and compelling until it goes into the Venus Project. At this point the video lost all meanng to me!
To keep on topic, I told my friends months ago that Zimbabwe is simply an experiment by the elite as to how to bring about a moderately successful economy to the breaking point much like they did to Argentina. The markers are the same but, in zimbabwe, the theory dealt with food production. Zimbabwe has massive natural resourses that have been sold to the elite at pennys on the dollar as a result of ZM financial crisis. The same thing is happening all over the world!
October 13th, 2008 at 11:23 pm
Henry (code name Bor) Kissinger had all to do with Zimbabwe as well as what is going on here. May the chains bear lightly on your ankles and life. They are coming to your area now! I read that Ian Smith aged 10 years after he met with Dr. Death in S. Africa. We are in his sights now, as it is very obvious.
October 13th, 2008 at 11:39 pm
The Euro is one of the four regional currencies of the New World Order and they will not let it collapse into hyperinflation; at least not yet. Its still way to early for that. The US Dollar and the British Pound are being set up for destruction as planned to be integrated and absorbed into one of the four regional currencies. Once the four NWO currencies are in place, then they will be made to collapse to make way for the one world global credit units which will be fully electronic.
October 14th, 2008 at 3:52 am
To post #42-Tom;
It’s all due to thievery,courtesy of th Box Gang.
October 14th, 2008 at 3:58 am
To post#41 Scott;
You are right about Zimbawe, sort’ve. The elitist experiments have already run dry.
October 14th, 2008 at 4:57 am
#43, Kevin, you are right, people are so conditioned that they will still turn back to the system for solutions when it lets them down and thus perpetualise the ‘comfortable’ bubbles most of us westerners live in, furthering a calculated global agenda.
but in response to #41, i am not insane, nor a ’spaced out hippie’. you pretend as though, im proposing you ‘force’ people to not work on farms, let them continue working a farm if thats what people want to do, but i would propose they dont have to work so hard or for so long, for ‘paper’. you will ‘grant me’ that water should be free? you do realise your defending a miserable existance? you do realise that right? you are a defeatist.
there are more motivations in this world than money, and more worlds than this world too, “what is the population to do if everything is automated?”… urm, thought that one would be obvious, whatever they want to do, sit around and play playstation all day or work at a space agency set on colonising mars, id work on such a project “for free” if it meant i could go into space! and im sure id make alot of like minded friends too… not too mention the women!
have you ever met anyone who truely does ‘nothing’, most those typa people are buddists! dont make me intellectualy smash you. it would be no utopia “just alot better than THIS system”.
http://video.google.com/videop.....7695921912
“to keep on topic”, zimbabwe would be alot better off in that kind of a system too, lotta of motivation in that country for a better world.
October 14th, 2008 at 6:06 am
Document uncovers details of a planned coup in the USA in 1933 by right-wing American businessmen
The coup was aimed at toppling President Franklin D Roosevelt with the help of half-a-million war veterans. The plotters, who were alleged to involve some of the most famous families in America, (owners of Heinz, Birds Eye, Goodtea, Maxwell Hse & George Bush’s Grandfather, Prescott) believed that their country should adopt the policies of Hitler and Mussolini to beat the great depression.
Mike Thomson investigates why so little is known about this biggest ever peacetime threat to American democracy.
http://www.bbc.co.uk/radio4/hi.....0723.shtml
You can listen to this document in this link
October 14th, 2008 at 10:23 am
I think he is on the money! The money speculators however are making their plays.
Canada has not levered their banks as has Europe and the US.
This should mean the Canadian Dollar is up against the US and Euro but, this is not the case.
I don’t know what is happening there but think we are far from the total picture.
October 14th, 2008 at 3:58 pm
this site is purely speculation, speculation is only useful if the people speculating plan to take action.
do any of you reading this or writing here plan to take action?
if not you might as well kill yourselves now as all your doing by being here is funding Mr Jones’s system of disempowerment (advertising revenue, intimidating info), in his own words “make people feel powerless, so they’ll willingly, give up their ’sovereighnty’, their liberty”.
tell me, what can you do about ‘the elite’, they do exist no doubt, otherwise i would not be here, but what is anyone going to actually do, apart from hang around on ‘infotainment’ sites such as this?
if you want to effect change, you must BE the change you want to see, rather than wasting time, speculating all day long.
join an independant community and help out, learn how to automate important life supporting processes, stop being a consumer of products, stop working your 9-5 job and do something that matters, rather than amounting to nothing more than cogs in a system of corporate revenue and taxation.
you, have to, DO SOMETHING, rather than just talking about the problems of the world. dont you understand?
and on that note, why does this site not encourage more activism to create change in the world?
if you give a s--- about anything, watch this film, be inspired that a better world is possible, and take ACTION. for without the philosophy of action, all other philosophy and speculation, is irrelevant and only an academic exercise. this is crucial to understand.
you have power, be inspired.
http://video.google.com/videop.....7695921912
~M
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