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- Senate May Try to Revive Bank-Rescue Bill as Early as Tomorrow
- Analysts Predict Hyper-Inflation To Push Gold To $2000, Oil to $300 Within Months
- Thousands of Troops Are Deployed on U.S. Streets Ready to Carry Out “Crowd Control”
- Australian web filter to block 10,000 internet sites
- Fed Says ECB, Others to Offer Unlimited Dollar Funds
Dollar, Euro, Sterling May Be Destroyed Zimbabwe-Style
Hennecke says hyperinflation will cause gold price explosion
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.”
(ARTICLE CONTINUES BELOW)
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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48 Responses to “Dollar, Euro, Sterling May Be Destroyed Zimbabwe-Style”
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October 13th, 2008 at 5:21 am
The truth and lie
Is that we are all Christ and Antichrist
We are Alpha and Omega
I’m lying to you and telling you the truth
Words are lie and truth
You are God and the Beast
It will drive you mad and it will drive you sane
Some will love me
some will hate me
No one and everyone understood the riddle
Now
Think or Don’t think about it
October 13th, 2008 at 6:33 am
Wouldn’t it be nice if folks could post relevant comments about the article. Instead of quasi-religious tracts that are spurious to say the least.
October 13th, 2008 at 7:08 am
What we are about to see is a race to the bottom by the world’s major currencies as each tries to devalue against others in a beggar-thy-neighbor policy to shore up exports…
Call it a rush for the least common denominator. You know that the US in creating the ficticious “open markets” have allowed the US Economy to be plundered by the likes of CHINA and MEXICO so you can save a few bucks at Walmart. Yes they pay thier workers a fraction of a fraction to live off of but Americans really dont miss having High Paying Jobs when you can be sure Walmart will hire you in a 6.50 an hour. As the Largest Corp. Walmart pays 25% what GM used to pay its “skilled workers” back in 1969. Some predicted the Third World was coming to a USA near you and now we see it came sooner then many thought. Be back later I have to go do some shopping at Walmart!
October 13th, 2008 at 7:11 am
I’m one of those rare individuals who are too poor to go broke. lol
October 13th, 2008 at 7:14 am
Willie Walsh, the BRITISH AIRWAYS chief executive, is predicting that up to 30 Airlines worldwide will go BUSY - while further losses are likely in the City. Unemployed bankers are being advised to seek work in Shanghai or Mumbai amid warnings that the Square Mile will be Permanently reshaped by the crisis.
‘City people I speak to are despairing because they may not get another job for a year,’ said Shaun Springer, chief executive of the City headhunting firm Napier Scott. ‘For the first time in 30 years in the City, I’m scared.’
The British never saw this coming either, but they are not trapped in the Euro like other countries therefore they can always fall back on the Pound and expect thier exposure to the Failed Euro Currency is a great reminder why Britain must maintain Independance from the European Union’s goal to bring down British Sovereignty.
October 13th, 2008 at 7:16 am
And Prison Planet readers, that while reading, keep in Mind that one of the MAIN tactics of the “Control System” (Matrix) is to find a means of ’subtly’ allying their message with that of the Truly Positive so as to generate CONFUSION in untrained minds which would tend on surface evidence to ‘accept’ these actually CONTRARY messages as benevolent…
No Bail Out 2008!
You can fool some of the people some of the time, but you can’t fool all of the people all of the time.
October 13th, 2008 at 7:17 am
I say we duct tape this economy like Bush wants and we get back to spending to Save Our Economy!
October 13th, 2008 at 7:21 am
Study history and the repetitive nature of human events becomes apparent, with the economics of empire particularly predictable. How odd that we are able to stand upon the shoulders of those who have gone before us for all things technological, yet must relearn things social all over again, each and every generation. That simple fact, alone, suggests the true purpose of life, you know.
Warfare is both Social and Technological, which is why human beings grow ever more efficient at killing one another, yet never learn the real lesson of war (that there are no winners, of course). That is why generals inevitably fight the last war, again and again, until they lose.
October 13th, 2008 at 7:23 am
We need a comment block feature, so I can block the comments by IP.
Anyway, this article seems a little eager, and sounds like fear-mongering for the conspiracy set.
Dollar going down? Yes.
Euro? No way.
October 13th, 2008 at 7:24 am
http://www.youtube.com/watch?v=Agt1kN8um30
“I think Bush jr left me for the Government” CEO Lehman Bros. Fuld’s thoughts after getting punched out Bankrupting his bank too big to fail.
October 13th, 2008 at 7:28 am
Here is an ironic fact for you.
Today is the 701 anniversary of the Templar Purge.
For those of you that don’t know the Templar at one point among other things were the bankers (money changers) of their day. On this day some 701 years ago the church declared war on the Templar. This is largely in part due to their unscrupulous loaning and interest charging.
Fast forward to today. On this the 701st anniversary the Templar have their revenge.
Bankers have now convinced the governments of the world to begin putting the people completely under bank control.
October 13th, 2008 at 7:32 am
In any case, if we saw (as it appeared) heavy selling or short-selling in the futures market while demand for GOLD in the physical world was rising, that historically would be a very bullish development.
I suppose that is why Millions are finding it necessary to Rush to hold physical reserves of Gold in case our Fiat Currency back by ______g collapses. How much debt can a currency take before everyone seeks a safe haven en masse like Gold and Silver. It doesnt matter if they cut availability of these safety nets. There will still be deman period.
October 13th, 2008 at 7:34 am
These the dark days but nothing compared to whats to come!hopefully the sleeping ones will now finally see the reality that most financial gurus are saying let the banks burn and build from the good business that remains cleanse the system but NO! instead TRILLIONS of Dollars and equivilant Sterling is being sucked into the void! id like to say God help us but i dont think he exists! FIGHT PEOPLE!! FIGHT!!
October 13th, 2008 at 7:35 am
America today struggles to retain its empire, or that the struggle has been the same for every empire, down through history.
You see, empire has a nasty habit of killing off its center and the rulers of empire never go gracefully.
All empires have gone down the same way:
in utter disbelief, all the while grabbing and clutching at the Perks and Comforts that the descendants of empire builders came to view as their natural and rightful due. Rotting from the inside out, the ECONOMY of empire unwinds, always, in the same fashion: Overspent, Overstretched and, ultimately, BANKRUPTt.
Are you better off 7 years after we got Bushie in office?
October 13th, 2008 at 7:40 am
And all of your FRIENDS(BUSHs)
I hear are whispering
I think you left me
For the Government
And all of your friends
Are hopelessly
I wish you’d stop
Wasting all my ENERGY
http://www.youtube.com/watch?v=GlY3G6iSsm4
October 13th, 2008 at 7:44 am
The lies, the subtle twists on the truth, are generally buried deeply in a soft cushion of warm and tender concern for their “Chosen Ones.” The Control System proceeds by the method of imitation. It APES the expression of the positive, and all the more carefully when it wishes to be mistaken altogether for truly benevolent intentions…
So Greed finally does have a soft side… its called BANKRUPTCY!
Get a box of Lucky Charms and a Backpack full of Gold and No worries Mate!
October 13th, 2008 at 7:46 am
Mars will go into global meltdown. That’s why the Aliens never turned it on.
October 13th, 2008 at 7:54 am
Another unusual aspect of this recession is that traditional “Keynesian” techniques to stimulate DEMAND by expanding Credit through interest rates cuts is hobbled by a moribund housing market; housing has for DECADES been the primary mechanism for transmitting interest cuts to consumers by reducing a household’s primary interest expense, their Mortgage. The freed up money ‘acts’ much like tax cut. Now, however, interest rates are rising, especially for those homeowners who took Greenspan’s advice in 2005 and took out an adjustable rate mortgage (ARM) when fixed rate mortgages were at 40 year lows, and Tightening lending standards are cutting off home mortgage refinancing for MILLIONS.
Lesson here is no matter what Fake Rally they may temporarily prop up this overleveraged market, the Housing market is still getting Hosed at Breakneck Speeds. A temporary Fix always looks good for a Fraction In Time.
October 13th, 2008 at 8:52 am
CashCarry appeared on CNN this morning. Figures… When the market takes a breath, he appears…
October 13th, 2008 at 9:38 am
@PeaceTalk: The Knights Templar and the Cathars. The Vatican soldiers, confused as to how they would know who was who were simply told, “Kill them all. God will know his own”, hence the often used phrase we hear today.
http://blindboybroadcasting.podomatic.com
October 13th, 2008 at 9:39 am
http://www.thevenusproject.com/
this site displays the work of industrial designer/social engineer, jacque fresco. for the past 30 years (approx) he has been developing this “future by design” aka “The Venus Project”. you may be familiar with is work if you have seen the recently released Zeitgeist:Addendum. i am a great admirer of his work even though i do not share his perspectives on spiritual/religious issues. however, one needn’t share the same spiritual views of another in order for the “redesigned culture” to be successful as it doesn’t insist that one abandon their faith, just that they abandon their attachment to a monetary based system (which really has a strangle hold on the individual and not the other way around).
October 13th, 2008 at 9:42 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 10:16 am
Concerning the article above, that is the point after all, isn’t it? The string pullers are busy busy busy. Ron Paul for President.
October 13th, 2008 at 11:26 am
The line in the sand thing is troubling but not unbelievable. I am actually surprised I haven’t heard more rumors about things like this given the money crisis. There have been military assault style exercises in the urban core where I live for dubious reasons and around 2yrs ago I was interested to note that all the local and most of the foreign police forces I investigated online were heavily recruiting and that was before any credit crisis. North America is their golden milk cow so they aren’t gonna let anything happen here, they would gladly execute every outcast/artist/philosopher to keep this beautifully isolated war pig going. My studies revel that people who hold the big power on earth will execute everyone with exreme efficiency if they feel that their power is threatened. I wonder though, if the Karma scale has tipped (it will sometime) and Kali is coming to town soon. If she is, lookout, the U.S. Nuked those Japanese cities and I don’t think that little sidenote of history has come back around yet.
October 13th, 2008 at 11:32 am
Mr venus project. You could make this planet a Jetson inspired utopia with prosperity and happiness for all and I would still be desperately trying to jump off the tallest of your idiotic structures with a piano wire necktie. This is the planet where “The Prince” was written. You don’t fool me you minimalist nitwit. If I put on my “they live ” glasses and got a real good look at you I could see a combination of albert speer and a tim burton-cutting room-floor mascot. Good luck with it, chumpchange and no 20$ for you.
October 13th, 2008 at 11:49 am
I like a good conspiracy story and tales of doom and fear. The system needs a kicking, but I fear that this whole furore is just going to slide away, fizzle out and end up just another burden that us masses get used to hauling around. And that, my friends, is more frightening than any military exercise in Vermount, devaluation scare story or Bush bid for world dictator. It means that the elites will rule eternally. Unless.
October 13th, 2008 at 12:40 pm
andoo, while you’re sitting around waiting for “krama” to change circumstances people like fresco are actually developing viable solutions to severe social schisms that are not only incapable of sustaining a cooperative human existence, they are set in direct opposition of that endeavor.
incidentally, you don’t sound as though you’d be a terrible loss to humanity.
in my jetsons inspired utopia no resource would be withheld from you because of economics, lack of intelligence, or inability to evolve, therefore, you would have all the piano wire you required to fulfill your aspirations.
see how we all win?
October 13th, 2008 at 1:10 pm
What if much of the conflicts around the world are just training for the US military, just to keep them sharp for the ultimate battle. A way to test economic and genocidal theory. The elite function on science, they use the occult to try to obtain a deeper knowledge. In my humble opinion the only thing you can educate yourself about by delving into darkness is the nature of darkness. Since George H.W. Bush was put in power positions of the CIA and government the number of assassinations around the world have been at their highest point consistantly for 40 years, with no signs of slowing down. Highest point in world history! We are being led by those who murder the innocent while thier backs are turned. No honor, no justice just murder for fun. We need to fulfill our obligations to the future generations of our country, not stand by while thier futures are raped before our eyes. Power was for the People
October 13th, 2008 at 1:33 pm
get ready for the new world order. money will be our last worry im sure.. good luck all im from sunny uk im sure we go first..
October 13th, 2008 at 2:13 pm
@tickletheNWO; Yes you do… You can only be walked on if you lie down first. I have friends in the UK, not many, but a few. I was recently told a little about how the property is distributed over there. I found out that the royals own much of the land that your homes are built on. Absolute power! You can build whatever you want as long as they say you can. How do you feel about that? I know recently here in Pac.NW a ton of federal land has been sold to private parties, like the Bush family, with little or no public outcry. Millions of acres in one of the last vestiges of American wilderness are now owned by the Bushs’ as well as coersion in obtaining control of every major media outlet in the US. Now you know why there is digital TV, cant have those independent media sources telling the truth now can we. For all foreign
travellers still allowed to enter the US are you not amazed by the lies we put up with???
October 13th, 2008 at 3:58 pm
is Zimbawe as Corrupt as Nigeria?
I mean really when you start comparing our currency to thiers the only difference is our enemies wouuld love to own us, yet who the hell wants some desert in Africa?
Having said that Im sure there is probably a hell of alot of OIL there and someday America might have the military might to take it all over once the depopulation of africa has been completed with Aids being the Number One disease Western Powers have helped explode upon them.
Now that is class warfare!
October 13th, 2008 at 4:18 pm
For those of you worried about what a ‘complete collapse’ might mean. Let me tell you that First Off you will not need to worry about growing all your own food. That is silly and the people who push that concept on here are not in touch with reality. You probably need to stock up on like a 7 day food supply at least a 3 day min. for your travels to wherever it is easy to fortify yourself.
Now just for fun lets just say the S H T F. what would that really mean. From what I have seen it means that you would probably have to immediately leave the area you are in. Therefore, basic supplies are needed at that point. Water, dry foods, etc.
Lastly I want to say the most important thing would be to have money and No I dont mean Dollars, Euros, or any other Fiat currency. Silver and Gold… the only currency that has stood since the beginning of time and will so in the end of time as well. How much do you need? Lets just say enough to make it where you need to go plus. Silver being the cheapest you can build up a small supply as an emergency and if the economy picks up briefly then you will have time to build up your supplies. Anyway, I am not against farming I just dont think you will have the time to sit there and take whatever is coming your way, therefore you will have to worry about farming at a later time when the situation clears out…
Just a few survival thoughts but in reality we are seeing massive amounts of money being pumped into this Gambling Stock Market so in the mean time, ENJOY!
October 13th, 2008 at 4:25 pm
What’s the problem? I’ve always wanted to see a trillion dollar federal Reserve Note. Tomorrow I can see a quadrillion dollar Federal Reserve Note. These will look good in any new business that starts up this week; instead of their first dollar bill behind a glass frame, they can proudly display a trillion or quadrillion dollar bill in the same case.
October 13th, 2008 at 5:15 pm
Here is the original article: http://www.cnbc.com/id/27159117/site/14081545
October 13th, 2008 at 6:46 pm
hey if anyone is ready to act i got some really good ideas so email people at mikesam1990@msn.com its better than sitting here and talking about it but before i tell you anything i need to know i can trust you.
October 13th, 2008 at 7:22 pm
I need advice
Could somebody please tell me the nearest place that I can exchange
my unstable US dollars, my silver, and gold for some New World Order Funny Money.
October 14th, 2008 at 12:01 am
I am so happy that Zimbabwe is leading the way on what not to do to get Hyperinflation. Such a small country, such a big mess, and many lessons for all. Will anybody learn.
October 14th, 2008 at 12:20 am
@itsourbattle; Trust no one and use some caution. The best thing you can do is organize the people close to you and feed them the truth everyday. I admire the zeal, its just that things are not in our favor and the devil lives in the details. Some of those details include keeping a close eye on us “free people”. I have a good idea! Cover your ass and arm up while the option exists. Many states do not require you to register a firearm when you buy it. I will be very surprised if all this talk about buying “precious” metals keeps these people alive longer than me and my AK. Even if everyone here is wrong I think it would be ignorant for every informed person on this site not to have a survival kit that can get you and your family through a couple weeks of chaos. Blow a hundred bucks on a trunk and some canned food and for your sake have a gun you can use effectively.Get the truth at thepiratebay.org.
October 14th, 2008 at 12:45 am
I wonder if Congressmen, International Bankers & Hedge Funds Managers ‘Taste like Chicken’!
October 14th, 2008 at 8:45 am
Before the human defecation makes contact with the oscillating turbine, the best things one should do is make friends with a veterinarian or pharmacist, a good doctor, someone with keys to a large grocery store. and start stocking up NOW, because this is only just starting to come into focus for some people.
October 14th, 2008 at 11:20 am
Michael Tsarion is the man. Go to taroscopes.com
October 14th, 2008 at 5:19 pm
Central Banks seem to have readied up the Amero, the Police State’s currency of the financial dictatorship.
October 14th, 2008 at 9:47 pm
i bet new currency coins or dollars. will have the masonic symbol on it.
like the eye, 90 degree angle and compas.
November 10th, 2008 at 5:11 am
[...] Paul Joseph Watson Prison Planet Monday, October 13, 2008 [...]
November 18th, 2008 at 11:29 am
[...] influential private investment advisor Martin Hennecke echoed these sentiments declaring that the anomalous price trends were partly a result of temporary deleveraging as well [...]
November 18th, 2008 at 12:26 pm
[...] influential private investment advisor Martin Hennecke echoed these sentiments declaring that the anomalous price trends were partly a result of temporary deleveraging as well [...]
November 18th, 2008 at 8:50 pm
[...] influential private investment advisor Martin Hennecke echoed these sentiments declaring that the anomalous price trends were partly a result of temporary deleveraging as well [...]
January 7th, 2009 at 3:41 pm
[...] Dollar, Euro, Sterling May Be Destroyed Zimbabwe-Style [...]