Saturday, Jul 19, 2008
10 min interview with Bob Chapman on the state of the world economy
Prisonplanet: Global hyperinflationary depression is inevitable now within three, possibly two years
Bob Chapman was the world's largest gold trader in the world for a time. He says in this piece that our economic situation is so dire that a plunge is inevitable now in the next few years. OPEC says that oil will go to unlimited prices, $500 conservatively, meaning $20/gallon minimum at the pump. Meaning implosion of the EU and US economy's. Largest bank run since Great Depression at Indymac. Reporters refusing to report devaluation of the dollar causing 70% of oil inflation. 25% of the increase is speculators dumping the dollar (and sterling) looking for safe havens. AAA rating of US treasury bonds at risk if there is a hard and fast split between EU and US interests caused by a situation like how EU banks have been left with much of the costs of US subprime. Unemployment could reach 35%.
6 Comments
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1. alan said...
Even if Bob Chapman is 20% right it is disturbing.
HPC is implicit in these warnings for the USA, and as we (the UK) are tied to them, it's us too. The problem is:- everything else messes up too. We won't get a clean HPC in splendid isolation, guys.
Regrettably we don't have the industry and commerce to pull us through, we "offshored" it years back.
An interesting post, P4aC, Thanks
2. p. doff said...
Oh, Prison Planet.
Nope, sorry not interested.
3. montesquieu said...
Yawn. More shock-jock nonsense. Get a grip and keep some perspective.
4. Will said...
Chapman could be talking up the Gold Market for his own interests. It worries me that our Government has sold off the UK Gold stocks recently.
What does our Government know about future Gold vlaues. Maybe Gold is no longer a safe investment in these troubled times.
5. plato said...
The objections to the post caught my eye and of course had the effect of making me take a look. This is the first time I've listened to Alex Jones (so thankyou) and this was very interesting indeed. Nice to see open,natural opinions instead of the usual carefully scripted and edited feed. I suppose this is a bit scary for some comfort zones, but there is a lot of truth there. Good Post.
6. Living In A Box said...
I believe Alex Jones is spot on. Anybody who cant see the coming disaster is wearing a blindfold. More posts like these, please. Let's wake up the nation!