Don't Panic! OECD Says things will only get worse!

[OddThomas88]

Interesting watching these videos. That OECD forecast for the UK deficit, for example, was a tad wrong. The UK deficit is now 10.2 per cent, or about 152 billion pounds - that's a drop of over 30 billion pounds. Amazing what a little bit of growth in the economy can do.

[mdp393]

This is such an awesome and touching video i almost cried...i love you, you should make a ton more videos

[jskaggs2008]

If you gave your money to a financial advisor, invested in a 401K, or financed a house in the last 30 years, you're an idiot. Don't blame other people for your mistakes. These people couldn't invest and couldn't pull off something as simple as a kidnapping. Now that they're in jail, they may finally realize they're idiots. I'm an american and can confirm, if the television or an "expert" tells an american that the dollar is backed by gold, they will believe it.

[uwejuwe]

Have you heard that 19 state's may have to issue IOUs and shutdown services? { /watch?v=DspwOJP9YeA }.

[catdog262]

Very valid points !

[joe80dman]

Tell the UK not to worry. The American taxpayer will be obligated to bail them out, too. Just wait until the Bill gets voted on on the Senate floor. It will pass with overwhelming numbers!

[pentogram23]

@joe80dman yes we are always saving their ass..............

[GenXFuturist101]

As far as I can tell, my request to the universe to remove "money" from the face of the earth has been granted. Fortunately, this will not be "the end" but FINALLY "the beginning" of ideal human endeavor.

[theunknownknows]

Money is a useful tool, like a screwdriver. Put in in the wrong hands, and blood flows. Too many "wrong" hands now.

[GODLOVESUSSOMUCH]

SO true! The best & worst can be done with the all useful tools, some tools being money, entertainment, internet, music, media, government, etc...yet the ordinary citizens have allowed to many "wrong" hands to be in control of these useful & potentially useful tools. Music can be used to bring people together or it can lead children into hatred, even murder through screaming of hateful and grotesque lyrics. Money can keep economies alive or it can kill them permanently when in the wrong hands.

[theunknownknows]

We have criminals running huge organizations; gov'ts, corporations, research institutes, religious orgs, even the UN is utterly corrupt- and the prisons are filled to the brim. It's lawlessness. Too many who believe the ends they seek for themselves justify any means.

[GODLOVESUSSOMUCH]

Yes sir! They're are also way to many corrupt elitists who believe the ends they are seeking, they will actually accomplish, yet in some respect, their efforts must continue in order for all to be carried out accordingly with the great end result. Your comment is so true, and its so sad how many don't know this, and even sadder to know how many do and don't do anything about it, some even try and disprove it, which is almost beyond my comprehension. God bless and keep up the sincere efforts!

[gorilla199uncensored]

You ran and blocked me when

I said the bible states Adam was created 4004 Bc (Which is what the fiuundies agree)

You just denied this fact

I asked if you believed the ark story

You didnt even bother to try and defned it!

[JFM135]

Thanks Mike....your work is helping inform in a very selective and intelligent way.

[salahuddin786]

The Germans produce cars etc - what does the UK produce? .... what I cant understand is why the UK ie performing better than the Germans? - the UK Financial sector has collpased for example

[roadhog1986]

i just told george4title now i'll tell you stop reposting videos im sick of seeing the same videos over and over

[xBabyDragonx]

Could you stuff any more bad news into 10 mins??!?? lol I'm thinking that they are piling on the bad news in an effort to get us to kill ourselves so that they might save some soon-to-be-needed bullets. I am so glad that I am about to be free of all my worldly possesions and debt....I don't think I would be able to pay the tazes that the gov't is about to nail us with. If you don't owe/ own anything, then what can they do to you?? I learned from the Great Depression # 1 ...!!! lol

[theunknownknows]

Sad to say, you're not in the clear. In times past, those who owned nothing were sometimes traded as goods themselves...

I own nothing, as well. Wonder how much I'll go for at auction.

[TheSharpenedPen]

Personally, I think the US takes it for nation most in the red hands down if it passes cap and trade into law and nationalizes health care. At some point though, all the minus digits become meaningless: you have no money, you owe everything you have, and there is no way in hell you're ever going to pay it back.

The news media is simply doing as it's told to keep the people placated with dreams of sugar plums and recovery dancing through their heads, while all the signs point to something else.

[wetalmorker]

Amen! But the rest of the world is still dancing to our tune.

When the music stops, there's gonna be hell to pay!

This could happen tomorrow, or maybe not for a decade or two.

Our day of reckoning is not known, but we must realize that it is coming, and prepare accordingly.

[TheCZMan]

"you have no money, you owe everything you have, and there is no way in hell you're ever going to pay it back."

Very well said. Debt does not matter because it wont be repaid. Debt is just an instrument to capture as much as possible of the surrounding wealth and take it as your own.

When there is no more money, you own everything you have (debt helped to build this up to sky high levels) and there is no paying back the debt: you keep what you got.

Well said...

[TheSharpenedPen]

Oh, it matters. What I meant of course is that the numbers become so astronomical that it becomes senseless to try & compare debt levels any longer; not that debt doesn't matter.

That debt is owed to someone, & will create a drag on the economy & the value of currency. Hyperinflation & unemployment have been chosen as payment methods, & pay we shall.

Cap & trade has moved one step closer to passage, clearing the congress & will add 7 trillion dollars to the 'acknowledged' debt of 11 trillion.

[TheCZMan]

I dont know if you notice but the economy is based on the consumption of natural resources to kick in.

Money is not a variable here. No more natural resources, no more economic process.

Yes, the debt is owed to somebody but this debt will not be possible to pay back because of the depletion of natural resources. Is this that hard to understand?

[AnihiIus]

/watch?v=HkLLOH7qXPg

/watch?v=G7X24_vOWwU

[Akrillix]

Keep these uploads coming Mike

Much appreciated

Martin Galtrey

Google the name if u like photos or music....

[slam1na]

Paying Taxes is illegal (aiding and abbeting Genocide, ask a legal representative) there is NO LAW that allows for taxation of man hours (LABOUR) go check it, tell your local tax office and they cant deny it. DONT PAY FOR YOUR OWN DEMISE.

[mconn2112]

Thanks for the great info. Mike!

[tonapah141]

Military choppers training in downtown LA w/ multi Agencies, for What future assignments?

The Associated Press, Sacbee

Published: Friday, Jun. 26, 2009 - 2:12 am

[mlndstream]

If US embassies are being sent large amounts of US dollars to swap for local currency to last a whole year, then that suggests the dollar is about to become worthless...'force majeure' on US debt perhaps? maybe Pound sterling too? both these countries have massive deficits...perhaps this is the 'global new deal' I've seen mentioned a few times now, a default on debt would cause the same effect as a devaluation wouldn't it?

[jmm1233]

trying so hard not to cough , hope your still getting better , 5*

[mlndstream]

According to a few youtube video's I've seen recently, there's a large scale FEMA anti terrorism drill taking place mainly in the US, but with cooperation with other countries such as Canada,Australia etc..., and I don't like it when governments do terrorism emergency drills,because on 9/11 and the London train bombings there were terrorist emergency drills taking place on the same days, the London train bombings happened at exactly the same stations that the drills were being undertaken. Fishy

[mlndstream]

on 27th of July this year

[NeddLudd1811]

Theyve been collecting foreign currencies at the embassies for about a month now. They expect somthing to go down in about October.

[phnixlady]

Go Pensioners !! Ra Ra Ree! Kick 'em in the Knee! Ra Ra Rass! Kick 'em in the Other Knee!!

[soulwam]

Thanks and bless you Mike for your perseverance. ... We love the Zimmer story.

[Rezist01]

Mike, I try so hard to "get" this s%$T, I do better than some... We live in the land of WAMU.... now known as Chase, they have put up all their shiny new signs snd are now inundating us to re-fi... I call it blowing sunshine up my butt.... why would someone re-fi a loan that is 1/2 paid off? start all over and pay them all that interest on the front end of the loan? is that what they are hoping will save them? so strange... waiting for them to throw in Rosie the Robot from the Jetsons

[Speaksforthetrees]

Mike this is old news the Fed says it aint so bad and market responded. Its all bollacks ,bullshit and lies , they play yall like a pack of cards , well they can kiss my ass i learned to play CFD .

Tax free ,its like a dream come true , fuckin easiest money i ever earned , tax free .

Stop loss ,they should be so lucky ,i edge it ,come back to it later , dont matter what the price is just looking for the points.Edge it then edge the loss out , they will never get 0.1c no matter what they crash.

[lightfoot500]

what are you talking about with the CFD tax free easy money? some sort of investing maybe?

[Speaksforthetrees]

Yes Sir,

Contract For Difference .

Investing , but by a different set of rules .

The rules are they is none ,its all out war between me and the fat bankers .

[bryandenehy76]

I think your teapot is the antiterroist. lol

[popas7]

hahah, the teapot...you are an extremist, Mike :P

[coultrane]

I hope you are feeling better from the flu, Mike.

[coultrane]

Japan to order Citi to suspend some ops: reports

Japanese financial regulators are set to sanction Citigroup Inc. demanding it suspend some of its business due to overly lax money laundering controls, reports said Friday. Tokyo-traded shares of Citi were down 3.6% following reports.

[coultrane]

I would suggest people STOP PARTICIPATING. Only leave a minimum balance in your "bank" and avoid every other FEE, as you see fit.

[mcgrawtim123]

That bit from the Onion Video on "Gold for Cash" was hilarious! Thanks!

[mcgrawtim123]

The Chinese have credit cards?!?

[FlamingoKicker]

Yeah, the rich ones do. The ones that live in places like Hong Kong (remember that place? The commies let them stay relatively "free" cause they needed their money to float China out of it's troubles)

[mcgrawtim123]

Thanks for the info. I meant it as kind of a joke, but your point is well taken. I remember very well when I was a working mechanic in the seventies when I couldn't get a credit card.

[christo930]

According to Ron Paul, there are American CONGRESSMEN who think the US is on a gold standard!!! To think these people control the purse strings in the US:(

In the US they are showing commercials constantly for people to sell their gold jewelry and such, they must really be expecting inflation and a surge in the price of gold, of course it's almost a given that gold is going to go up, but I think silver will gain even more.

[rusirious]

Nice tea cozy Mike, is it al kida or IRA ?

[darkcloud2211]

Read Denninger's market ticker on the embassy money deal....it's not what you think, but still, BAD

[philipr1977]

michael jackson just died

shaamoo muther fu**a

i'm sure he will be missed

[56gig]

You look like you're feeling a bit better.

Good info Mike...Thanks

[dixon36]

Awsome video brother.

Is anyone having trouble viewing videos? I tried to view Mikes' video on the flu day 2 and it wouldnt play. Last night I tried viewing about 20 others and they wouldnt play(not from Mike).Today finally this video played for me.

[GaGirlie777]

It does happen to me occasionally.

[Carlstens]

States in the US. are doing stupid tax things as well. The state I live in, will be soon taxing the money you pay for federal income taxes. (A Tax on taxes)

[GaGirlie777]

Which state? That's insane.

[Carlstens]

Can't say... privacy you know, I will say in the midwest.

[darkcloud2211]

Bullshit....if it's really true...you can say it....get real...which state?...it sounds like a bunch of BS to me..

[Carlstens]

Darkcloud2211 writes; (expletive)... if it's really true... you can say it... get real.... which state?... it sounds like a bunch of (expletive) to me.. - fever will delete this post for language -

My reply. Find it yourself, I do NOT tell sheeple where to find my stuff!!! If you really want to know so much, start looking at news sites!

[darkcloud2211]

Yeah...okay I think BS or bullshit is safe here...posting unverified statements in which the post is questioned by another with a reply of..."I can't say...privacy"....is questionable at best, flakey for sure. Addressing another poster that questions your information as "sheeple" reveals your inability of providing an intelligent response...and futhermore discredits your position with a generic, irrelevant response to a legitimate question

[ZedAlfa273]

Are'nt the pubs in England open 24 hours?

I mean, with an unemployment rate of almost 20% what else is there to do but drink?

Here in the states, there is actually serious consideration in the form of main stream media discussion of the legalization of Marijuana by the States for the purposes of making up for lost tax revenues as a result of the current economic crisis.

Things are indeed happening fast:

Some predict complete USA economic collapse-full shooting war by November 2009.

Can't wait

[philipr1977]

no pubs shut at at 11

had a pice on the radio today about our cannabis use going down, but our cocainne use going up up up

any talk on drugs always makes me think of hunter s thompson

drugs are like a mirror of society the drugs get harder the worse things are.

[philipr1977]

can't wait to see the unemployment figures when the schools and colleges, and universities finish... more well educated soldiers i suppose.

[nailerfx]

Bank Holiday from what I hear is set for late August, early September. Interesting that's when school starts and The start of mandatory Swine flu vaccines as stated by the Sec. of Health & Human Services

Starting with kids- 6 months to 18 years old. So it looks like 60 - 90 days, not 120 - 150. Good luck to all in these comming times.

[deckchairs1]

Legislating poison for children, further destruction of immune systems added to the 16-year psycho drug drive.

If ever there was reason to unplug from the system this would be IT.

First thing to do would be getting your Dr. to sign an exemption for your kids.

Many Drs are on to this freakshow of pharmaceutecals...push until you find one not on the playlist of 1984 bad actors.

[CelticReject]

It's like a self feeding and self perpetuating machine. Faster and faster, exponentially, deeper and deeper in to debt. Is there really any way to reverse this, or will it all have to smash, and then rise again in a different form? I don't think our politicians (here in the UK) could tie their own shoelaces, let alone get us out of this disaster in waiting.

[stuntpea]

I'm sure I saw a financial fella on BBC a few months back say things get very sticky if debt becomes more than 13% of GDP. Last week I read it was about to reach 14% in Blighty!

I freaked slightly, and bought another kilo bar of silver. I'm sure it's only a matter of time before they devalue the Pound and Dollar.

Still, at least we get a free bank holiday. :P

[AnotherBrotherMark]

From my point of view, this is your best bad news video to date. It will soon be topped when the unbeaten champion pound hits the canvas with a thud louder than that when the dollar is knocked out.

[trainicvideos]

Hello Mike and everybody!

I have recently come across Noam Chomsky

This is a name that is worth investigating extensively!!!!

[marcusguernsey]

that is because he is the foremost political intellect of this age.i was lucky to see him speak bout 12 yrs ago

[DEMCAD]

They can throw all of the money they have at the problem, but it will never work.

[PayChkSlaveRebellion]

Thanks mike, I heard about this letter from schultz but didnt get around to reading it yet.

Loks like they want GBP pound sterling dead, i think we might be using the euro in 12 months, before the conservatives can come in and stop it.

Thanks for heads up

Peace

[spinalfluidontap]

Tie that in with the EU forcing their Constitution down everyones throats, including Ireland, I'm thinking our Canadian dollars are looking pretty good...(not that I have any) sure they are a Fiat currancy, but we have as much gold, copper, and silver stil in the ground in my province only than there is in the whole world. We also stopped mining it two years ago for some reason. In the ground is better than in the bank is my guess.

[EvilUSAandthe911Lie]

Great video!

Your "terrorist teapot" is upstaging you a bit, however.

[redmoonspider]

5:23 "inside the state department...something is about...could be"

...Mike, what hell is that??

Something...could happen...beyween??? I looked for a link...I don't see it..in the info.

[ottomadicly]

Just gotta say, I love your little terrorist tea cozy in the background. You should bring it forward kinda like Homer in the sludgereport. Maybe even have naming contest, I think it needs a name.

[Gha4DZ]

Thanx Mike , Brilliant ! Say no more :)))

[P3coTrain]

uk doing this as a ploy to join the eu?

[cv1122]

thanks for the links mike. yeah there was almost no reporting of those 3 bank failures. notice how all these banks always seem to fail on the weekends.

[FeverIAm]

Always on a Friday after the markets close... intentional.

[justl00knout]

Mike I want to thank you for the time you take doing these videos on you tube. After my husband and I closed our restaurant in December we no longer had access to high speed internet or cable. We rely on dial up and, well it takes over an hour to download a 5 min video. Anyway, I really appreciate the way you list the links on the side of your videos. It helps a great deal. Your blog does not have as much info as your videos but it is great aswell. GL2u&urs...& again TY

[dontblamethemessenge]

believe it or not.

But also in the Netherlands many people also believe that there is the gold standard. I just talked to someone today and he knew that there is the gold standard, because for every euro there is some gold in the vault.

I did not want to spoil his fantasy world.

[jonah70757]

Benjamin Fulford has been claiming that the US DOllar abroad has been backed by Gold. Only the NEw Dollars issues since last Septemebr are not accepted and remain in the US. Now does that sound like one big baloney?!

[PASMdude]

They were backed by gold abroad until Nixon stopped it because the French were starting to ask for gold because the government was running budget deficits for the Vietnam war. Just from memory I think it was 1971.

[TheCZMan]

Better for you to see the cause of this in oil producing countries reminding the rest of the world that oil is a finite commodity. Once this reminded, suddenly, a credit based economy was much more suitable.

[jonah70757]

Absolutely but check out the scuttle butt Fulford has been floating lately. He is one strange dude.

[jonojojojonojojo]

thank god your back mike :)

[slobomotion]

OECD. That brings back a lot of memories.

Thank you very much for posting.

I wonder how you deal with any negative comments you get. I think people are tired and in pain and lash out.

Greetings from France.

[FeverIAm]

Neg Comments - not bothered. It is a natural reaction to bad news. Denial... hopefully they'll hang around to heckle - long enough to see the truth. Acceptance...

Peace

[centervilletn]

ive been feeling like something terrible is on the brink of happening...and ive been out of the info "loop" for a couple of months....just a sick feeling growing in my gut...sorta like the feeling you got when as a kid you were sent to the principals office

[InkedXyz]

Ditto to your comment. I told my friend I felt something weird was coming, and she told me to take off my tin foil hat. ARGH....

And, to think I thought it was just me feeling that way. :)

[arcanekrusader]

You should make her a tinfoil hat :D

[v7j7w7ard]

Yep...you described that forboding feeling perfectly.

[TheCZMan]

"ive been feeling like something terrible is on the brink of happening..."

Michael Jackson's death? Terrible isnt it?

[aw3212]

DOW up 185?? Higher than expected unemployment numbers... What "good" news did I miss that is causing this phony rally?

[TheCZMan]

Probably the higher than expected unemployment number?

Markets react to the predictions of profit.

Activity is down for the moment and laying off people preserves profit.

So higher than expected unemployment numbers preserve even more profit.

[aw3212]

I guess the bond market results too.  More unemployment = less consumers = more fear = more savings not sure that will help the long term profit, but the market hasn't acted rationally for years.

[TheCZMan]

The market is not about long term, it is about short (nearly immediate) term. Market is only interested in the profit to make this quarter, not the profit to make in one year.

Your expectations to the market are irrationnal, not the market's actions.

As to consumption, check it. You'll discover that it wont fall proportionally to the job losses number. Draw the right conclusion.

[aw3212]

Short term market thinking = long term disaster = USA We are a kick the can society and we are/will pay dearly for it.

Consumption may not fall proportional to job losses ONLY because we are still a credit card country. Wait until the banks fail because of all the defaults on credit cards then watch as consumption falls off a cliff with no credit OR paycheck to buy all the JUNK from China.

[TheCZMan]

I dont like the idea of a great payback day. Sounds like a plane out of gas doomed to crash. Economics are not natural laws.

Banks wont fail because they cant fail (banks= western banks)

[dashxdr]

What was the link to the story about US embassys quietly amassing enough local currency to maintain operations for a year? It's not in the sidebar...

[FeverIAm]

It's the first one from marketwatch - Latest Schultz Shock: a 'bank holiday'

[dashxdr]

>Latest Schultz Shock

Thanks. That is the most important news item in your entire video, in my opinion.

[v7j7w7ard]

That's what stood out to me too. BIG red flag!

[Zarinaofhope]

Does any one out there have any little phrases that provoke the masses to think that maybe things are not OK - if you do please share them

Enjoyed the video Mike - its great to know I'm not alone you and all the viewers thank you so much!!!!!

[PeakedEarth]

great video... nice work. feel better.

[artnuwa11]

hummmmm geritol gang, sounds like something from Monty Python! Oh! it is straight from The Meaning of Life. Go Fogies!

[boots920]

1776

Gold $20 US in paper (paper is backed by gold)

2009

Gold $1000 US in paper and climbing the problem with fiat money although the government doesn't back the paper the gold price is a measurement of the value of the currency.

Pretty basic stuff so this present "event" was going to happen in 1971 when the US government ended its gold backing of the currency.

Without exception all leaders of the world knew it then and they know it now. Paper fiat money is about to become worthless.

[llothar68]

Germany wants to raise the VAT to 25%

Thats how they want to finance the deficit.

Idiots.

[StandUp555]

Do you have a link ?

.. and PS: yes, they're F'ing idiots all right, but unfortunately we elected them

[llothar68]

It was in an interview with the DIW or BDI guy on N24 news chanel.

So there is no link. And i hope you heared the CDU statement about 18% TAX on everything.

[StandUp555]

Thx .. I heard it on the lae night news.

25% VAT suggested ... to start in 2011.

I didn't hear the 18% tax on "everything" though.

I thought we had that already !

-)

[StandUp555]

Have you seen Deek's brilliant art work ...

PLUNDERBIRDS - INTERNATIONAL FUCUE

/watch?v=HHbdGLS6nRA

The guy is HyperCritical .. a genius IMO !

( Warning ... bad language, but damn funny )

[StandUp555]

Damn stupid Governments ... who elects these people anyway !

Uh Oh !

;-)

[RAMKING61]

Be sure to get the brand new issue of Rolling Stone Magazine: 'How Goldman Sachs Runs Washington'

[0bodobod0]

good old government solution to everything: collect more expendable tax.

[SubieTurbo]

The news reported today that the unemployment rate in the US rose "unexpectedly" to 627K... :-/

[Lynchian74]

And the Dow rallies.

[insertthissideup]

They want to control every aspect of our lives, guns, water, food, to sex. They want to ban private gardens and the keeping of small livestock like chickens and goats. They want to control all water rights, even well water. They want to protect pedophiles from hate crimes as they rejected language to exclude pedophiles from the latest hate crime bill. The government has nationalized or is nationalizing four entire industries; banking, investing, housing, and auto mfg.

BUY SILVER !

[ClanRooster]

Brilliant ! Thanks for the Google News link about Nixons treachery on the gold-standard. . I quote:

"In short the USA has revoked it's promise to redeem on demand the dollar holdings of foreign governments and their central banks"

Governments never forget this sort of stuff. At the start of the Icelandic crisis I remember bloggers saying how it was payback for the Vikingers sacking of Lindisfarne 800 years ago.

[silverjunky999]

looks like your kickin pig flu butt, im glad be strong little trooper

[sitesprocketdotcom]

marketwatch(dot)com/story/schu­ltz(dash)paints(dash)bleak(das­h)picture(dash)of(dash)future