Economist Martin Armstrong says that the US Treasury Department’s purchase of survival kits for thousands of employees who oversee the banking system could be linked to some kind of “Mad Max” style event.
Earlier this week it was revealed that the Treasury Department was set to spend $200,000 dollars on survival kits to be delivered to every major bank in the United States which would include a solar blanket, food bar, water-purification tablets, a dust mask, bandages and medicines amongst numerous other items.
“The emergency supplies would be for every employee at the Office of the Comptroller of the Currency (OCC), which conducts on-site reviews of banks throughout the country,” reported the Washington Free Beacon.
Armstrong, who correctly predicted the 1987 Black Monday crash as well as the 1998 Russian financial collapse, writes that the move represents, “a very strange request” and sounds “like they are planning for a MadMax event.”
Armstrong adds that the purchase of the survival kits could be linked to a crisis set to emerge out of a collapse of European banks.
“Taxes and regulations have been destroying the European economy at an alarming rate. This comes back in loan defaults further weakening the banking system for which they they demand more taxes,” he writes.
When applied to economics, the term “Mad Max” refers to an unforeseen and catastrophic breakdown in the financial system. The term is based on a 1979 dystopian movie starring Mel Gibson which is set in future society in which law and order has broken down after an economic collapse.
Armstrong has written previously about the potential for this “Mad Max” event to arise out of a collapse of the welfare system.
“What happens when government collapses and people are totally unprepared because they never thought government collapses?” asked the economist.
Last month, Armstrong, subject of the upcoming film The Forecaster, has also predicted that a sovereign debt crisis will cause chaos in financial markets after 2015 as well as a mass uprising within America as a result of wealth inequality by 2016.