Bob Chapman on the Alex Jones show, 6.17.2011, speaking about the coming collapse due to Europe’s ‘Lehman’ moment with the economic turmoil that Greece’s economy is creating in the eurozone, how Goldman Sachs and JP Morgan Chase have been going in and out of Greece bidding for infrastructure, and how the Bilderbergers are now on the run after the protests in St Moritz last week.
Unemployment at 22.4% is causing a run on assets of retirement funds. That is probably why legislation is being introduced to limit how much money can be removed from these investment vehicles. About 11% of participants have taken out loans over the past year, up from 9% y-o-y. In overall total 22% have loans out and the numbers are accelerating. Almost all the loans will never be paid back. Hardship is forcing people to withdraw, as well as those who believe that government will try to commander 401K’s and IRA’s to fund a bankrupt government, that wants to replace those vehicles with bogus government guaranteed annuities.
If the extension of the short-term debt is not legislated by August 2nd, we may see legislation regarding a takeover of some retirement plans.
As this possible misuse of Americans hangs in the balance, inflation plods, relentlessly onward and at the current rate of acceleration we could see hyperinflation two to three years down the road. We projected 14% inflation before the end of 2011 just over a year ago, and we have six months to go to make it to that level. There is no way to avoid what is coming whether it is hyperinflation or straight into deflationary depression. Eventually it will be deflationary depression. The very fact that sovereign states are creating money and cred…