Shocking video of the imminent economic collapse and the Next Great Depression. After a little bit of a lull, the international currency crisis is back with a vengeance. Currencies are collapsing in Argentina, Brazil, India, Turkey and other emerging markets, and central banks are springing into action. It is being hoped that the economic collapse can be confined to emerging markets so that it will not spread to the United States and Europe. But of course the global financial system is more interconnected today than ever before, and a massive wave of debt defaults in emerging markets would inevitably have extremely serious consequences all over the planet causing a major stock market crash. It would be difficult to overstate the potential danger that this new economic crisis poses for all of us. Emerging market economies went on an unprecedented debt binge over the past decade, and a high percentage of those debts were denominated in U.S. dollars. As emerging market currencies collapse, it is going to become nearly impossible to service any debts denominated in U.S. dollars, and that could ultimately mean absolutely enormous losses for international lenders. Our system tends to do fairly well as long as everybody is paying their debts, but once the dominoes begin to tumble things can get messy really quickly and the next global economic collapse will occur.
A global financial collapse has begun, but because it has not really affected the United States too much yet, the mainstream media and most Americans aren’t really paying any attention.
But if the markets start crashing here too, then it will suddenly be all over the news. We have definitely entered a “danger zone”, and more shocks seem to hit the global economy with each passing day.
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COURTESY:
Script written by Michael Snyder, author of the www.theeconomiccollapseblog.com
Music: CO.AG Music
Footage licensed by Ruptly video agency
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