The Implosion Of The Global Markets Has Started & Can’t Be Stopped

The world doesn’t realize it yet, but the implosion of the global markets has started and can’t be stopped.  While the financial networks continue to focus on the rising U.S. stock market and Dollar, this represents a mindset that has totally gone insane.

Why?  Because the rapidly increasing Dollar and broader U.S. stock market do not represent a healthy economy, rather it reveals the swelling of the cancerous U.S. financial tumor.  The faster and larger it grows, the more it will endanger the U.S. economy.

I am completely surprised by the lack of wisdom in the Mainstream and Alternative media analyst community.  While many Mainstream analysts are probably paid to put out positive financial or economic propaganda, a good portion of the alternative media has no clue about the key factor that is driving the world straight over the cliff.

Furthermore, many precious metals investors are throwing in the towel and getting into the greatest overvalued stock market frenzy in history.  Fortunately, those who read the SRSrocco Report articles, especially on energy, understand there are only a few ideal future investments worth owning… so they BUY & HOLD their physical gold and silver.

Investors who continue to trade paper or sell physical precious metals to play RUSSIAN ROULETTE in the markets, do so because they believe business as usual will continue indefinably, or at least for many years.  Thus, 99% of global investors park their funds into assets that are propped up by the Fed and Central Banks:

Unfortunately, President Elect Donald Trump will not be able to turn the mighty U.S.A. Titanic away from hitting the massive DEBT ICEBERG below.  It’s just a matter of time.

As I stated in my article, The Peak & Decline Of International Reserves Warns Of Massive Asset Deflation Ahead, the global economy has already hit the wall and is now imploding.  While this may be slow at first, it will pick up speed over the next several years.

In that article, I posted this chart showing the falling U.S. oil price that coincided with the decline of International Reserves:

I also published Hugo Salinas Price’s chart on falling International Reserves:

As a reminder, the peak and decline of global Central Bank reserves took place right at the exact same time the price of U.S. oil fell below $100.  Again, this is no coincidence.  However, I did not show what has happened to U.S. Treasury holdings.  This chart, from TradingEconomics.com, shows the net purchases of U.S. Treasury Bonds and Notes:

This chart provides us with two important indicators:

  1. The Sell-Off of U.S. Treasury Bond & Note net purchases is the highest in more than 35 years.  While the market has been a net seller of U.S. Treasury paper in the past, they were very small compared the amount recently.
  2. During the 2008-2009 global financial meltdown, the net amount of U.S. Treasury sales were quite small versus what the market is experiencing since 2014, and especially this year.  Which means the underlying financial situation is much worse than in 2008-2009, but the market hasn’t realized it yet.

You see, the net sell-off of U.S. Treasury paper signifies the beginning stages of the global market disintegration.  Furthermore, there is more evidence of this if we look at the economic data provided by the World Bank.

Global GDP Collapses 5.7% in 2015

According to the data by the World Bank, the Global GDP (Gross Domestic Product) declined a stunning $4.5 trillion, or 5.7% in 2015:

This chart from the World Bank site, shows that Global GDP fell from $78.4 trillion in 2014 to $73.9 trillion in 2015.  This is a much different figure than the 3.1% Global GDP growth figure reported by the IMF:

Something fishy seems to be going on at the IMF as their Global GDP figures are much higher than the World Bank’s figures.  I have more confidence in the World Bank’s GDP Growth rate of a negative 5.7% for 2015, because the price of Brent Crude oil collapsed 47% in 2015 versus 2014.  This had a profound impact on the global economic growth.

For those who believe energy has nothing to do with economic growth, you may consider getting a MRI or CATSCAN, as BRAIN DAMAGE is the likely culprit.

Again, the U.S. and global markets are in BIG TROUBLE while the majority of investors continue to pull the trigger on the RUSSIAN ROULETTE GUN.  Of course, there maybe a few more empty chambers before the gun goes BANG, but I can guarantee that it will finally go off.  And when it does, investors will finally realize how completely INSANE they were to play in a market that was totally rigged.

I will continue to receive comments and emails from some readers who like to criticize the precious metals analysts for being so wrong on the gold and silver paper price forecasts.  To tell you the truth, this does not bother me one bit.  I am used to it.

This type of individual is not grounded in the dire energy predicament that the world is facing and is also conveniently ignoring the greatest Central Bank monetary manipulation in history.  I call it this type of mental activity, BRAIN DAMAGE.

As the disintegration of the U.S. and global financial markets pick up speed, patient precious metals investors will finally see the light at the end of the tunnel.

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66 Comments on "The Implosion Of The Global Markets Has Started & Can’t Be Stopped"

  1. “Wall Street had been doing business with pieces of paper; and now someone asked for a dollar, and it was discovered that the dollar had been mislaid.”
    Upton Sinclair

    “The world will soon wake up to the reality that everyone is broke and can collect nothing from the bankrupt, who are owed unlimited amounts by the insolvent, who are attempting to make late payments on a bank holiday in the wrong country, with an unacceptable currency, against defaulted collateral, of which nobody is sure who holds title.”- Anonymous

    The issue which has swept down the centuries…and which will have to be fought sooner or later…is the people vs. the banks. – Lord Acton, Historian…1834 – 1902

    Stealing the world can be fun
    It doesn’t require a gun
    Just hire some guy
    To print to the sky
    Then buy all the assets and run!
    ~ @TheLimerickKing

    Got Lawful Money?

    Cheers!

  2. Steve—
    Sure glad you are on this rock with me/with us!

    • Its nice to know there are commentators/websites like this, that don’t sprinkle icing-sugar on the turd (that is, the shocking state of the global economy), which is characteristic of mainstream advice

    • 4 oz & Everyone,

      Thanks for the positive feedback and comments. I can tell you that the number of people who read the SRSrocco Report and are waking up to the dire energy predicament are growing. I receive a large number of email replies that let me know that “THEY GET THE ENERGY SITUATION.”

      This makes what I do, all worth it. I also appreciate the donations readers and followers provide to support the SRSrocco Report site.

      The fundamentals ALWAYS WIN OUT IN THE END.

      Thanks for being apart of the RIGHT SIDE of the insanity.

      steve

      • Quote; “THEY GET THE ENERGY SITUATION.”

        Actually, I don’t fully understand it.
        I’m dyslexic, and out of the 3 “Rs,” arithmetic is my worst.
        I do understand the broader point you’re making, but don’t understand the nuts and bolts of your argument.
        I’m a visual learner, that’s why are like your charts, and the design of your charts.

      • How long will it take before the shit hits the fan, thats the big question?

        • “how long”? ever heard that song, “a country boy can survive”? it’s from the late 1970’s.

          just make sure your will specifies how your guns and gold and food gets distributed to your kids, so they have a good example of how to distribute it all to their kids.

  3. All you really need to know is to stay balanced. Jim Rickards says 10% for the conservative investor and 20% for the aggressive in terms of asset allocation into metals. Own some real estate, own some stocks, and market yourself. Get a degree in a field that has a positive outlook in terms of job demand and stay current in your field of study. Then all this noise about the price of oil is just that…noise.

    People who loaded up on gold and silver in the last 5 years are getting torched when compared with someone who loaded up on stocks.

    • @ JTM: PM stocks enjoyed a very nice run this year. Even passive types who sat on their thumbs through the pre-Fed drubbing should still be up 25-50%. Everybody, including PM investors, has been riding the wave of Fed-flation. Look before you leap. That also applies to quoting Jim Rickards.

      • But look at the HUI over the last five years then look at the major indexes. Again that’s why I say the best strategy for someone living in an economy as diverse as America is to stay balanced. Spread your investments out and market yourself to a career that is in demand. Then you can weather fluctuations in all asset classes without living in fear of things that are beyond anyone’s control.

        I know of no one who was predicting $40 per barrel oil prices two years ago despite access to all the data anyone can stand to analyze. You know the old saying…time is money. Waiting for gold to hit 2000+ an oz is probably going to take far longer than it seemed in 2011.

        • DisappearingCulture | December 20, 2016 at 7:59 am | Reply

          Jim Rickards has insider information, i.e. he can play longer and get out before getting burned. Also 10% of one’s investible assets in gold or silver is different when it is 10% of many millions, which he has [unless he has some expensive addictions lol].

          • Remember. Everyone starts where they are. Jim Rickards says that all the time. It’ not about hitting that One Moment when you can make a killing. It’s about the long term. If you can afford to purchase PM at just $50/month ($600/yr), then, DO THAT. If you can afford $500 a month, do that. Yeah, Jim Rickards had a lot of blessings early in life, but it seems he made the MOST (ie, worked really, really hard) of what was given to him, unlike most people who are satisfied to only get by, or, worse, blow it all when they’re young, and then give up.

    • Many purchased 20 – 15 years ago so “not torched”. Just seasoned and
      rewarded with the long term up trend. Look at the “quarterly reports” to see what is
      really going on with gold.

    • JTM,

      For some strange reason, you continue to make incorrect assumptions based on inferior or superficial data. Furthermore, if you are banking on investment advice from Jim Rickards, you better CHECK TWICE.

      Jim Rickards sold out to the Bill Bonner’s Agora Financial Newsletter conglomerate. He now peddles lousy stocks to many disenchanted investors who took the bait, HOOK, LINE & SINKER. If you want to check out some of the UNHAPPY subscribers, check out this link: https://agora-financial.pissedconsumer.com/

      There’s plenty more of where that came from if you google “Agora Financial Stock scams.”

      Regardless, JTM hindsight is 20/20. I gather any Germans who followed the NAZI WAR PARTY from the early 1930’s to 1942 thought they were doing pretty good. However, the following years and the next few decades of massive suffering looked much different in hindsight. In addition, they had to live with themselves being apart of the death of millions of Jews and peoples across many other countries.

      Sometime in life you have to do what is RIGHT, not what is SELFISHLY PROFITABLE for the short term.

      steve

      • You had me until the millions of jews comment. You’re a good researcher but societal pressure has apparently steered you away from looking into this.

        • verax,

          I beg to differ. Societal pressure had nothing to do with my statement. That being said, there are a lot of LOUSY CONSPIRACY THEORIES out there. Another lame one is that we never went to the moon. I get a chuckle every time I hear that one.

          About 25 years ago, I spent the summer with retired NASA engineer Don Arabian. Don was the head engineer on the MER – Mission Evaluation Room in Houston Texas. The brains of the Apollo Program were not at the CAPE KENNEDY, rather a thousand miles away at the MER in Houston Texas.

          Anyhow… I got to learn a lot about the INSIDE SCOOP of that Apollo Program. So, if you are going to tell me that we never went to the moon, that’s one you are going to have to keep for yourself.

          steve

          • Diogenes Shrugged | December 20, 2016 at 1:19 pm |

            I must have missed something. I don’t believe verax said anything about the moon.

            Conspiracy theories have a nasty habit of turning out to be conspiracy facts, so conspiracy theories don’t bother me in the slightest. What really bothers me, though, is how celebrated experts almost invariably start to think themselves qualified to address topics that are far afield of their expertise.

            The “inside scoop” is just gossip when compared with diligent research.

          • Steve, speaking of incorrect assumptions, can you point me to your prediction of sub 50 dollar crude for 2016? And if not, where did you error?

          • JTM,

            I never put out PRICE FORECASTS. That’s a fool’s game. However, the Hill’s Group work suggests that the price of oil will continue to trend lower over the next 5-7 years, even though there may be price spikes and volatility.

            However, if we are talking about the AVERAGE PRICE for 2016, then it is most definitely lower than $50:

            JAN = $31.68
            FEB = $30.32
            MAR = $37.55
            APR = $40.75
            MAY = $46.71
            JUN = $48.78
            JUL = $44.65
            AUG = $44.72
            SEP = $45.18
            OCT = $49.78
            NOV = $45.71

            AVERAGE WEST TEXAS OIL PRICE FOR 2016 = $42.35
            AVERAGE WEST TEXAS OIL PRICE FOR 2015 = $48.66
            AVERAGE WEST TEXAS OIL PRICE FOR 2014 = $93.17
            AVERAGE WEST TEXAS OIL PRICE FOR 2013 = $97.98
            AVERAGE WEST TEXAS OIL PRICE FOR 2012 = $94.05

            So, the price continues to trend lower. However, the Hills Group work stated that the MAXIMUM AFFORDABLE OIL PRICE for 2016 was $70… so the market has overshot that by a large percentage.

            steve

          • Steve, can I ask?
            Do you believe the science behind climate change?
            Do you believe the scientists who work on climate change, to honest and have integrity?

          • Question Everything…. The problem is we don’t receive objective information so questioning whether we went to the moon or not is a good thing as we start to ignite our critical thinking skills.
            I have no idea if we went to the moon or not, nor do you. So you spoke to some guy who was employed by the biggest money siphoning establishment on the planet. Maybe we went to the moon, maybe the earth is round, maybe the CIA is not a corrupt drug running agency.
            All wars are bankers’ wars. And who runs the banks. Mike Rivero at (what really happened.com) sums it up in 45 minutes. https://www.youtube.com/watch?v=SKnF1HEUwuo&t=22s

            Also,
            https://www.youtube.com/watch?v=AsD8yCcCZ5Y

            PS. I have donated to your site.

      • Hi Steve,

        For you as a very good researcher it is remarkeble that you show so little knowledge about Germany,s history. Have you ever really read what happened before and after WWI. Such as sea blockage which killed millions of german civilians. Did you ever understand what happened after WW I and the opposed Versailles threatment? The national socialist were just taking the country back from foreign influence such as banking, media, unions etc. There was a good reason why germans were really upset by what had happened to them after wwI. The so called democratic leader of Weimar betrayed them severe.

        There is no proof of the so called magic 6 millions and nobody can show the evidence, in the german courth they just state the truth does not matter in case of the holocaust, By now
        it is proven already that many ppls died but no way 6 millions.

        After the war roughly 15 million civilions died by etnic clansing by allied forces/soviet union. Not to mention the communistic(zion) revolution which killed 60+ million ppls.

        Yes I agree you have to do what is right and that mean not bluntly accepting some events which happened many years ago and history which is written by the victors. Remember
        WWI and WWII were organised and executed by and on orders of high finance better known as Rotschildt & Co (aka the rotten).

        • Pieter,

          Yes, you are correct. I know a bit about certain areas and topics, but not about everything. I was not making an opinion of the German people, but rather using it as a guideline for HINDSIGHT. That being said, it is true ethnic cleansing has taken place in many countries throughout history.

          Regardless, I have to tell you that I am finding the new show HUNTING HITLER, very fascinating. Of course, the BUTCHERS, THIEVES, OLIGARCHS & ELITE are still running the show and many are just as bad as any in the past. So, it is true that Hitler is singled out more than the others. Keeps the public from finding out the rest, I gather.

          steve

      • my goodness. how does one get from “10% for the conservative investor” to “the death of millions of Jews”?

        “You’re a good researcher but societal pressure has apparently steered you …”

        … to the same old propaganda? heh. “societal pressure” ….

    • Its easy to get torched when the mafia run the show

  4. Kenneth Hagesten | December 19, 2016 at 6:42 pm | Reply

    I am prepared and just waiting for the collapse. It will hit us hard prepared or not.

    Kenneth
    Sweden Europe

    • Kenneth,
      Thanks for your comment. Totally agree it’s going to hit extremely hard no matter how well you prepare. Thus I am neither waiting for the collapse nor feeling prepared (although I do prepare, even if only as little as I can). Instead, what I am really looking forward to is to seeing people turning towards God and His way. That would surely solve our problems regardless of falling EROI, etc. 😉 The truble is not many seem to favor His quiet, humble paths… so far 😉

      Kind regards,
      P.

  5. This article, is very serious however it did make me smile. Steve I have never heard you so vitriolic before toward the Bleating populous of PM investors and misguided financila advisors who whine about the price of paper metal.
    More please it is amusing lol…:)

  6. Thanks Steve, regards.

  7. I often wonder if the human race will undergo an energy revolution or if our numbers will drop back to yr 1600 levels. Agricultural revolution/industrial revolution/information revolution, then energy revolution and space revolution? The shifts seem to be getting closer together like the time line is moving faster. Zero point energy? Tachyon generator? We can only hope so and if not, I can only hope to be fortunate enough to become an OLD rancher.

    • .SilverBullRider | December 20, 2016 at 3:22 am | Reply

      Check out BRILLIANT LIGHT POWER.

      It may save the world from energy disaster in the next few years.

    • “if our numbers will drop back to yr 1600 levels”

      if they do they’ll overshoot considerably below that.

      “Zero point energy?”

      never happen. that’s like hauling water uphill to use it to generate hydroelectric.

    • Probably off topic from SRSrocco article but if and when a complete collapse occurs it is likely that the survivors will be only those that know how to survive with minimum help from others – or scant help from a depleted planet. 1600yr levels are probably optimistic.

      This quote from Keneth Galbraith probably applies to all of us living in a rich privileged world of resource exploitation free from the constraints of the ‘natural’ world (we will not co-operate) and ‘apparently’ free the reality of an unpredictable universe.

      “People of privilege will always risk their complete destruction rather than surrender any material part of their advantage. Intellectual myopia, often called stupidity, is no doubt a reason. But the privileged also feel that their privileges, however egregious they may seem to others, are a solemn, basic, God-given right. The sensitivity of the poor to injustice is a trivial thing compared with that of the rich.”

      So we will ALL push the limits until we cannot.

  8. I hate to be cycnical but it seems like we are always 3-6 weeks or 3-6 years away from a collapse.

    • Well, if it weren’t for printing up trillion$ and trillion$ “worth” of fiat since 0809 it would have collapsed if the printing presses were not running continuously. The day they are out of or not willing to part with more bullion to deliver to the east, that day will mark the start of the end for good. Till then I expect the beatings to continue. As energy gets harder and harder to extract (declining EROEI, new discoveries < current consumption) energy, the life blood of our current economic system, will get rare and unaffordable for most, choking economic activity world wide. As this happens, fiat currencies and paper promises will go the way of the dodo, even "king $".

    • “the future’s uncertain and the end is always … near!” jim morrison

  9. You are indispensable, Steve.

  10. Steve,
    Regarding the discrepancy in world GDP numbers, the World Bank numbers are for OECD countries and the IMF’s numbers probably include non-OECD, most notably China The IMF likely takes China’s GDP at face value. You’d have to check the source to be sure.

  11. Steve.
    The people who bash your work either very narrow minded or very evil people who might understand your work very well. The last ones want to hurt you and make you sick and tired of their irritating comments and I think they want YOU TO LOCK YOUR PUBLIC SITE with a subscription service, thus making your work available only to a few willing to pay your fee. Don’t give them a satisfaction.
    I would think right now you reach tens of thousands people by giving a free access to your extraordinary analysis. Many thanks.

    • Yuri,

      Well said!

      For all of you that appreciate Steve’s work as much as I do and want to keep it flowing, a small monthly contribution by you can go a long ways to making that happen.

      For all of you that can’t afford a small monthly contribution, how about a small Christmas contribution.

      The work Steve does gets more important to us everyday as the world blindly stumbles into chaos.

      SteveW

  12. I look forward to your articles and videos the most out of anyone else I listen to, Steve. Many ‘professionals’ are ignorant of the thermodynamics/energy crisis situation that is unfolding and this causes many of them to seem rather boring because without that most important aspect (energy), most financial and metals analysis’s become echo chambers of a simplistic and narrow and often inaccurate view on the situation that is unfolding.

    Thanks for all you do, Steve

    Stephen

  13. Steve,
    Some time ago I took my portfolio down 60% to cash. Over the last 5 years I have been accumulating as much gold and silver (physical) as I could. No collectibles or novelties, just bullion. When (not if) fiat currencies around the world show their true value, I think the new unit of comparative measure will in fact be the old one. The worth of items and labor/skill will be calculated in ounces not promises. I would not be surprised to see large acreage with a sound livable structure asking 400K, go for one fourth that if the offer was made in silver and gold.

    I don’t know why, but as a people we almost uniformly do nothing about a potential disaster until it is right in front of us. When the worlds Ponzi-economics collapses, It will happen quickly and very quietly. I am only to happy to be prepared years to early, than one minute to late.

    Thanks for the good work Steve, always a pleasure to read.

    Respectfully, Steve G

  14. Great article, Steve.
    I totally agree with you. I have to admit though, you scared me a little this time. Again, great work! I’m sending a donation on payday.

    Just a personal reflection:

    I am retired but recently took a job as a deliveryman. I regularly travel to all corners and sections of the Detroit Metro area. I was raised in the northern suburbs but until recently never saw it like I am seeing it now.

    The overall population of the Detroit Metro area has remained relatively constant for 40 years (about 5 Million). However the area that it covers has greatly expanded. It is really incredible, in a way. I cannot believe the “growth” since I was a kid. When you look at a map, the built-up area has just about doubled in geographic size since the 70s with basically the same population.

    The amount of cars on the road is unbelievable. Driving this way and that at all times of the day. Where the heck are they driving to? Are they really going to work? Most of the industrial jobs are gone. The roads have never looked worse! Even in the prosperous communities. Thousands of empty homes. Hundreds of empty businesses and factories. It resembles an old tree: a rotting core with growth rings continuously expanding outward.

    I’m not a big fan of Kunstler, but I can see why he describes America’s suburbia as “the greatest waste of resources in history” (or something like that). When I see all this traffic and activity, I just have to think to myself, “There is no way that this is sustainable”.

    Sometimes I think about the amount of energy required to keep this circus going. It has got to be phenomenal. Then I think of your writings, and recall the words of G.W. Bush: “This sucker’s going down!”
    And you know something? There are actually many people around here who believe: “Detroit’s Coming Back!” and “Detroit will be rebuilt!”

    Boy, are they in for a surprise!

    • “Detroit’s Coming Back!” and “Detroit will be rebuilt!”

      for generations the rulers of rome handed out free grain to the people. when this ceased the people would gather in the forum for many years afterwards, waiting for the free grain that used to be handed out there.

  15. Excellent statement. Quote.” And when it does {(blow up)}, investors will finally realize how completely INSANE they were to play in a market that was totally rigged”. So true, so true The Question then will be: Why did we not see it coming??? Answer: Bubbles will be considered as bubbles only in the rear mirror. Especially this bubble as it is so big and old.

    • “The Question then will be: Why did we not see it coming???”

      The Answer will then be: you did. but you still preferred to obtain your money through finance rather than by work.

      heh. same thing with gold infestors. “just by holding this, I’ll be rich in the future ….”

  16. SilverBullRider | December 20, 2016 at 3:32 am | Reply

    I feel like we’re again in a moment like in that movie “The Big Short” when they realized exactly what was going to happen way before anyone else. They even tried to tell people, but no one wanted to hear it.

  17. Death of the petrodollar. With a low oil price, there’s less recycling of $ into the system. Oil producing countries receive less dollars with which they can buy, tadaaa, US treasuries. When there’s no demand, we get a sell off. So, again, energy surplus is needed to continue business as usual. Without growth, the system dies. Central banks are buying the paper assets that normally would be bought through growth out of energy surplus. Hence, socializing the losses by dilluting the currency, faster, and faster. We’re in trouble.

  18. heh. everyone was talking about the black swan event bringing everything down. nobody thought there might be a WHITE swan like trump.

    heh. stocks up, dollar up, jobs up, GLD/SLV down, prepper industries failing … and (laugh outright) trump’s not even president yet.

  19. Hi Steve,
    By our calculations the average direct loss on a barrel of oil is now $29, or about $1 trillion per year for the industry. It would be closer to $2.7 trillion per year if reserve replacement was taken into consideration. The decline in crude price from 2014 to 2015 accounted for 2.3% of world GDP. For finished product it was 3.2%. The World Bank figures make perfect sense.

    A 5.7% decline in GDP may seems shocking to most. The Etp Model informs us that it is right in line with what has occurred from the depletion of petroleum from 2012 to date. That projects 5.4%. Once this begins to flow into other energy sources like coal, and natural gas a 5.0% per year decline rate will probably become fairly regular.

    Debt accumulation probably restrained the decline for several years. It now appears that the debt mechanism has reached its point of diminishing returns. It does not appear that adequate enough debt formation will be possible to prevent falling GDP in the future.

    http://www.thehillsgroup.org/

    • Debt accumulation is over, they are already monetizing stocks. Imho, they are working on deglobalization right now. Trade barriers, stopping influx of migrants through walls, words and falls flags. Working on localized economies with a 1000 Venezuelas as the result. If we’re lucky. 5% per year blows stuff up fast.

  20. When was the last time a Ponzi or Pyramid scheme didn’t fail? When up becomes down and mainstream media becomes a “Night time tale with Joseph Goebbels” does any rational person really think everything is copacetic?

  21. “…individual is not grounded in the dire energy predicament that the world is facing…”

    A fair number of years ago Kathy McMahon described this condition and coined a term for it as “Panglossian Disorder”. It is, perhaps, the most common and widespread malady among humans over the entire planet.

    Not only is the Universe about energy, it IS energy. Duh! eh?

    ~toktomi~

  22. The similarities between 2017 and 1929 are eerily familiar. This is generational now as living witnesses to the greatest financial conflagration in human history are being laid to rest and the warnings they gave throughout their lives are silenced.

    The current market euphoria based purely on mania is now underway, as in the lead up to 1929 there is more boiler room than ‘trading efficient markets’ being applied by current media cheerleaders.

    This is not investing, it is pure and unadulterated speculation.

    Every market in the world is affected, this is nothing more than the largest Pump and Dump scheme we will ever witness and the fall will be epic.

    • “This is not investing, it is pure and unadulterated speculation.”

      nope. it’s wealth transfer. the system will function exactly as intended and fail, and the “global elite” “international financiers” “deep state” will take possession of all collateral. quisling judas goat leaders will be pushed forward to tell us “you must now work to pay off your debt.”

      some people will ask, “debt to who?”

      some people will ask, “what debt?”

      these people will be silenced.

      • Funny, a few years ago, in Spain, they tried to forclose on homes and put families on the streets. Friends, family and neighbors gathered around the house and the debt collectors and police went away to avoid social unrest.

        Fight! They will issue a new (backed) currency, maybe even money, because they don’t have a choice. But only after they try to shove some sdr crap down our throats.

        • “They will issue a new (backed) currency, maybe even money, because they don’t have a choice.”

          no, never. the “global elite” “international financiers” “deep state” have two alternative goals: the nations 1) subjugated and working for them, or 2) destroyed. they now have the opportunity and the power to accomplish both, and will accept no other outcome.

          “the debt collectors and police went away to avoid social unrest.”

          the source of the problem is not spanish debt collectors or spanish police. when you no longer know who the debt collectors are or who the police are – they’ll be “UN” or “global” or “world bank” – then we’ll be getting close.

  23. “Fraud vitiates every transaction and all contracts. Indeed, the principle is often stated, in broad and sweeping language, that fraud destroys the validity of everything into which it enters, and that it vitiates the most solemn contracts, documents, and even judgments.”
    37 Am Jur 2d Section 8

  24. “Fortunately, those who read the SRSrocco Report articles, especially on energy, understand there are only a few ideal future investments worth owning… so they BUY & HOLD their physical gold and silver.”

    Money is a representation of energy.

    Gold and silver are money therefore they are representations of energy

    I understand your position to be that we will soon not have any fossil fuels available because the cost to produce them is too high.

    I completely agree with that.

    But where does that leave us once BAU is dust?

    The only remaining energy source will be trees — 7.4 billion people desperate to heat their cans of beans and keep themselves warm will quickly burn up all trees and whatever else they can get their hands on very quickly.

    The world will quickly resemble Haiti.

    That leaves us with no energy whatsoever.

    Since gold and silver are money and they are nothing more than representations of money (or for those who do not comprehend that — they are stores of energy otherwise known as stores of wealth)….

    And since there will be no energy available.

    Gold and silver will be worthless.

    If you have gold and silver I recommend you use it to enjoy life while there are still things to enjoy. Perhaps take a long vacation.

    When BAU — civilization ends — and you will be dead.

    Gold and silver will not help you — they will not save you — nothing can save you when the fossil fuel age ends.

    • If you truly believe that, then might I suggest a very warm tub and a straight razor. I can assure you that even when BAU ends, we will be alive and well.

      What you prognosticate may indeed be true for large populations in third world countries and large inner city populations. But it is not he end of the petroleum based world economy that will be the cause of their doom, it is the world wide credit collapse that will be the primary cause of their demise.

      When the world currencies collapse all of the world delivery systems will stop. Within three days, No food, No fuel, and No transportation (except for the military) followed by riots, chaos and marshal law with curfews. Within a week, public utilities will start to fail which invariably leads to major outbreaks of cholera, dysentery and a whole host hygiene and malnutrition related diseases compounded by communities inability to properly deal with their dead.

      Deforestation takes a relatively long time to happen – populations will be dead long before it does. Communities located near old coal deposits, fuel distribution centers and agricultural communites where farmers still have well managed wood lots will be spared from more dire effects of the energy delivery system devastation.

      Where the real effects of petroleum depletion will be felt is in the job of trying to rebuild local economies without cheap and readily available energy.

      Many of the well located and well prepared will survive and eventually prosper as they relearn some of the old ways to live – most will just die.

      Gold and silver, as money, will only be useful in communities that will survive. You can’t eat them but in functioning communities they will be the medium of exchange. Sure there will be a lot of bartering but, face it, the guy that has a herd of dairy cows doesn’t want to have to haul around a wagon full of milk and butter to find the guy that has stuff he needs. It would be much easier to sell his goods for gold or silver which he can then use to buy the things he needs directly from the seller rather than having to find the product his seller needs from a third party that may want his milk or butter.

      So you, and any others of your persuasion, have a nice vacation, give your remaining worldly goods to friends or family and draw a nice warm bath.

  25. Steve – I used to buy into what you are selling — in fact I moved to a fairly remote place — and I set up a small farm – I stocked a large shed with extra everything — I stockpiled food — I bought quite a lot of gold.

    But then you know what…. I tried unplugging from BAU here and there — I shut off the power for short periods — I refused to use any petrol machinery — I never sprayed weeds — but then this creeping feeling came upon me…

    The one where I felt like I was playing hobby farmer … that there is no way in hell I was going to be able to survive without electricity — without a chain saw to cut trees for firewood — without any spare parts for things I was going to need…

    Try unplugging from BAU for a week — then imagine that being permanent.

    Then I began to think about my food situation — I live in a low density area – mostly farms — some people grow food – but nowhere near enough to be sustainable.

    The farms are all useless because they farm using chemicals — and as we know — chemicals kill the soil.

    In fact I was discussing exactly this topic the other evening with the head wine maker at a big operation not far from us —- we were discussing organic wine making —- and I mentioned the 3 year period required to repair soils damaged by chemicals …

    She said no way — it would take a lot longer than that… she is trained in the science of growing — she has many years of experience.

    So nearly all the soil where I live will be dead without chemical inputs. And virtually nobody grows enough food to feed themselves.

    Where will they be looking? You got it Steve – they will be demanding that I share.

    You see the problem don’t you?

    At about that point I started to give up on my post BAU utopian dream and began to accept that when BAU goes – I die.

    But let’s not stop there. There are 4000+ spent fuel ponds on the planet — not reactors – spent fuel ponds.

    That fuel MUST be managed —it must stay in the ponds for many years before it can be dry casked. There is more spent fuel being added to ponds around the world every day.

    Japan’s chief cabinet secretary called it “the devil’s scenario.” Two weeks after the 11 March 2011 earthquake and tsunami devastated the Fukushima Daiichi Nuclear Power Plant, causing three nuclear reactors to melt down and release radioactive plumes, officials were bracing for even worse. They feared that spent fuel stored in the reactor halls would catch fire and send radioactive smoke across a much wider swath of eastern Japan, including Tokyo.

    http://www.sciencemag.org/news/2016/05/burning-reactor-fuel-could-have-worsened-fukushima-disaster

    Assuming a 50-100% Cs137 release during a spent fuel fire, [8] the consequence of the Cs-137 exceed those of the Chernobyl accident 8-17 times (2MCi release from Chernobyl). Based on the wedge model, the contaminated land areas can be estimated. [9] For example, for a scenario of a 50% Cs-137 release from a 400 t SNF pool, about 95,000 km² (as far as 1,350 km) would be contaminated above 15 Ci/km² (as compared to 10,000 km² contaminated area above 15 Ci/km² at Chernobyl).

    A typical 1 GWe PWR core contains about 80 t fuels. Each year about one third of the core fuel is discharged into the pool. A pool with 15 year storage capacity will hold about 400 t spent fuel. To estimate the Cs-137 inventory in the pool, for example, we assume the Cs137 inventory at shutdown is about 0.1 MCi/tU with a burn-up of 50,000 MWt-day/tU, thus the pool with 400 t of ten year old SNF would hold about 33 MCi Cs-137. [7]

    http://belfercenter.hks.harvard.edu/publication/364/radiological_terrorism.html

    If you don’t cool the spent fuel, the temperature will rise and there may be a swift chain reaction that leads to spontaneous combustion–an explosion and fire of the spent fuel assemblies. Such a scenario would emit radioactive particles into the atmosphere.

    Pick your poison. Fresh fuel is hotter and more radioactive, but is only one fuel assembly. A pool of spent fuel will have dozens of assemblies. One report from Sankei News said that there are over 700 fuel assemblies stored in one pool at Fukushima. If they all caught fire, radioactive particles—including those lasting for as long as a decade—would be released into the air and eventually contaminate the land or, worse, be inhaled by people. “To me, the spent fuel is scarier. All those spent fuel assemblies are still extremely radioactive,” Dalnoki-Veress says.

    http://science.time.com/2011/03/15/a-new-threat-in-japan-radioactive-spent-fuel/

    How do you manage a high tech facility like a spent fuel pond that must maintain very specific temperatures and water flows – without BAU?

    Obviously you do not.

    This is an extinction event.

    Now you can ignore this — or you can just pretend that someone will deal with this — without explaining how….

    And you can keep on stacking your gold coins waiting for the collapse to come — only to find out that you made a huge mistake

    You’ll be lying in the corner starving to death when the first radiation arrives on a gentle breeze and thinking …

    Son of a bitch — that guy was right — I should have cashed in my gold and taken that trip to Italy with the Mrs….

  26. One other thing Steve …. let’s say I was foolish enough to believe that buying gold and silver was a hedge against the end of days….

    Can you explain why you are promoting this? https://srsroccoreport.com/lowest-cost-precious-metals-storage/

    This is obviously NOT the cheapest – nor the best way to store PM.

    1. The cheapest way is to buy strong container — dig a hole — and bury it. If you have a lot of gold you buy multiple containers and dig holes in a few places on your property and bury the boxes.

    2. What is the point in storing PM in a ‘secure installation’ — that makes absolutely zero sense. Nobody can know when the chaos will hit — you may not be able to get to the installation to retrieve your PM

    3. Governments have been known to confiscate gold. Where do you think the first places they visit will be at the moment that they make the announcement that all gold is being confiscated? You betcha — every PM storage facility in the country will be locked down by order of Uncle Sam — and the contents hauled away leaving you with nothing.

    Buying PM is a total waste of time given the nature of the situation — but if anyone is delusional enough to think that gold is going to be at all helpful once civilization is completely and permanently collapsed…

    What you want to do is find a bank or dealer that will sell you gold coins. Split your buys up rather than walking in and putting your entire budget down — then bury them in the ground.

    Any other plan makes absolutely zero sense

  27. As for the razor…. why would one commit suicide now? BAU could drag on for quite some time yet…

    Better to wait till the starvation begins then run a fast car into a rock cut no?

    In the meantime — it’s time to cash in the gold — and live large.

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