James Dale Davidson: Current Global Crash Is a ‘Rerun of 1929’

Please see the website for the video.

 

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The current global stock-market crash is eerily reminiscent of the Wall Street crash of 1929, investment expert and author James Dale Davidson told Newsmax TV.

“What we’re seeing, if I could say it this way, is a rerun of 1929 with the main crash falling in Shanghai rather than in Wall Street,” he told “Newsmax Prime.”

“If you’re not scared, you’re not watching,” he said. “Since the last time I was on Newsmax TV on the 11th of August to discuss the Chinese devaluation, which was a small step, I said it was only the beginning of a major change that was going on. And since that time, $5 trillion have gone to money heaven, which is a significant change,” he said. Continue reading

China currency war fears causing collapse in U.S. stock market

(NaturalNews) Americans and people all over the world are still traumatized from the 2007 and 2008 crash that altered world economies. In many ways, we are still recovering from that crisis and countless people and regions worldwide are still recovering. Think Greece, and Brazil; these countries have never fully recovered. So when the headlines today are sounding the alarm about U.S. stock markets taking a plunge, people everywhere are bracing themselves for the worst possible scenario. Can we really weather another 2008 crash? (Article republished from Collapse.news.) Continue reading

Global stocks in ‘panic mode’ as Chinese factory slump drags on markets

Global markets are hemorrhaging. How many more band-aids can be put on a wound that is somehow only delaying the death of the patient?

 

Britain’s leading share index fell to 6,286 points on Friday morning immediately after opening, a decline of 1.26%.
The drop mirrored stock markets across Asia-Pacific after they went into “panic mode” when further signs of a weakening Chinese economy compounded overnight losses on Wall Street and European bourses.

China’s factory sector shrank at its fastest pace in more than six years in August as domestic and export demand dwindled, a private survey showed, adding to worries that the world’s second-largest economy may be slowing sharply and sending financial markets into a tailspin.

China’s surprise devaluation of the yuan and heavy selling in its stock markets in recent weeks have sparked fears that it could be at risk of a hard landing, which would hammer world growth. Continue reading

China’s currency move will be a global hit, warns Goldman Sachs

Beijing sent tremors through global markets on Tuesday with the devaluation of the state-controlled yuan to pep up its struggling exporters, as well as announcing plans to allow market forces a bigger say in setting its value.

The move hit commodity and oil prices — crude had its worst week since January — amid worries China’s voracious appetite for raw materials will slacken.

Continue reading

China Devalued to Bring Yuan in Line with Technicals

Confusion hits the markets as stocks, currencies and commodities fall sharply across the region as investors fear a stalling China economy and possible currency war despite Beijing’s assurances. We warned that this devaluation was NOT A FLUKE, and far too many people just misrepresent what is truly going on within the world economy so it comes as no surprise they missed this one. Continue reading

Panic as China suffers ANOTHER stock market crash with largest shares fall in EIGHT years

INVESTORS in Britain and around the world have been sent into panic today after China’s stocks plummeted by 8.5 per cent – the largest one-day fall in almost eight years.

The FTSE 100 was in the red this morning after share indices in the world’s second-largest economy suffered their worst drop since 2007.

The fall in China is part of a wider slump in the country’s stocks that first began in mid-June, amid fears the China’s finance bubble had burst.

Previously China’s indices had almost doubled in the space of just a year.

The country’s Government had managed to briefly calm nerves with a raft of support measures, but today investors appeared to have lost all faith in official efforts to prop up values. Continue reading

China gold holdings jump 57pc, but buying not what it used to be

It’s just a guess, but in the near future you shouldn’t be surprised to see an announcement of a gold-backed Chinese currency. They’ve been increasing the inventory of gold for too long to not do something with it and they would love to put a dent in America’s global hegemon.

 

China’s gold reserves stood at 1658 tonnes at the end of June, the central bank said on Friday, up 57 per cent from the last time it adjusted its reserve figures more than six years ago.

Despite the tonnage increase, gold now accounts for 1.65 per cent of China’s total forex reserves, against 1.8 per cent in June 2009.

The reduced ratio suggests China will increase its bullion purchases, but the market had focused elsewhere, traders said. Continue reading

Why you should care that Robert Prechter is warning of a ‘sharp collapse’ in stocks

Who is Robert Prechter, and why should investors care that he is warning them to be on high alert for a potential collapse in the stock market?

The president of Elliott Wave International, Prechter may not be a household name on Main Street, but he’s widely known on Wall Street as the foremost authority on the Elliott Wave principle, a forecasting methodology used by generations of technical analysts that is based on the belief that financial markets trend in five waves, and retrace in three waves….

Prechter is also the executive director of the Socionomics Institute, founded to study how those same wave patterns define changes in social mood and govern social events. Continue reading

Bad News For World Economy That No One Wants To Hear

Reading the general run of financial headlines might lead one to believe that price declines in those commodities which are highly sensitive to economic conditions such as iron ore, copper, oil, natural gas, coal, and lumber are good on their face.

Obviously, the declines aren’t good for those who sell these commodities. But, those of us who buy these commodities in the form of cars, houses, utility bills and other products and services ought to be helping the world economy as we buy more stuff with the freed up income. Continue reading

Vladimir Putin seeing gold: Is Russia readying itself for economic war?

Is Russia boosting its gold stockpiles in anticipation of a possible economic war with the West?

Russia accounted for 59 per cent of net gold purchases by central banks in the third quarter of 2014, according to data from the World Gold Council.

Russia, Kazakhstan and Azerbaijan have all taken advantage of a subdued gold market, for which demand eased by 2 per cent in the quarter. The WGC has attributed this to an increasing effort to diversify away from the US dollar. Continue reading

U.S. Sanctions Push Putin Toward His Dream of A New Financial System

Although Monday’s sanctions will hurt Russia in the short term, they will also force Putin to step up his efforts to weaken U.S. influence over the global economy, which so far has been “little more than wishful thinking because of the difficult reforms it would require”

A little over a year ago, in early March 2013, the Russian state energy czar Igor Sechin made his American debut at an oil summit in Houston, Texas, reportedly accompanied by armed guards equipped with a K-9 unit. The speech he gave that day at the СERAWeek conference, an annual gathering of energy titans from around the world, was part of a pit stop for Sechin. He was on his way to a more high profile event, the funeral of his old friend Hugo Chavez, the truculently anti-American President of oil-rich Venezuela. But since he was passing through the Western hemisphere anyway, Sechin clearly felt it was worthwhile to court some American investors. “I call for us to work together,” he told the audience that day, according to Russia’s Vedomosti daily, “to drive our business for mutual benefit.” Continue reading

China May Seize Control Of Entire US Financial System

Today acclaimed money manager Stephen Leeb stunned King World News when he warned “if the Chinese were ready right now to seize power, they could probably take control of our financial system today.”  Leeb also discussed the frightening implications of this for the United States as well as where the US is headed from here.

Leeb:  “I am focused on the chaos in Washington.  We need a situation where the politicians form some sort of cohesive unit that would suggest they are interested in growth and the well-being of the American people, but that doesn’t exist.  Frankly, I’m angry.  I’m an American.  I have kids that are growing up here, and as I said, I’m really, really angry about what is transpiring….

“I see what is happening as the beginning of the end.  I also continue to see what is taking place as a tremendous gift to China.  We are just giving power to China — just handing it over to them.  It’s as if we lost a big poker game to China, or we are in the process of losing. Continue reading

China Looking To Reposition Renminbi As Global Currency

China has already made its aim to establish the renminbi as a global currency, possibly even replacing the American dollar as the world’s reserve currency. Recent moves to ramp up the gradual liberalization of the renminbi, which is currently allowed to trade only within a narrow trading band, and other actions suggest that China may be preparing for a major push to establish its currency as a major global reserve currency.

Traditionally speaking, the American dollar has acted as this reserve currency. The dollar is the most widely used currency in the world, and most commodities, such as oil, are priced in dollars. Many countries keep huge dollar reserves on hand to facilitate trade. China, for example, is believed to have some 3.2 trillion dollars worth of reserves. Even the tiny city-state Singapore has over 250 billion dollars in reserves. Continue reading

Why You Will Be Blindsided By The Next Financial Crisis

“The global financial crisis that began in the United States in the summer of 2007 was triggered by a bank run, just like those of 1837, 1857, 1873, 1893, 1907 and 1933.”  That’s the theme of Yale economist Gary Gorton’s Misunderstanding Financial Crises, Why We Don’t See Them Coming, published last year by Oxford University Press. Students of financial crises will tell you that Gorton’s theme is highly relevant to the next meltdown we could face someday soon. Continue reading