18 Years Ago This Country Collapsed Almost Overnight. Is This Time Different?

Submitted by Simon Black via SovereignMan.com,

In late June 1997, eighteen years ago, this part of the world felt pretty normal.

People had jobs. Inflation was fairly low. The economy was growing. Confidence was high. Life was great.

For years, most of the economies across Asia had seen meteoric, credit-fueled growth. Capital was pouring in from all corners of the globe, feeding a construction boom and stock frenzy.

Property prices soared. Stock prices soared. It was a classic bubble.

My friends who have been living in the region for decades tell me stories about how people bought property with the expectation to flip it and make a 50% return in no time.

Or they’d invest in the stock market without the slightest bit of analysis, simply because ‘stocks go up.’

That was the prevailing attitude in Asia back then– this time is different, and the good times will last forever.

But it all unraveled, practically overnight.

Thailand was hit first when a nasty currency swing caused the economy to practically grind to a halt. And the pain quickly spread to the rest of the region.

The local currency here in Indonesia, the rupiah, plunged 83% from its pre-crisis levels.

Dozens of banks went under, credit dried up, and many depositors got wiped out.

Then something interesting happened: the Indonesian economy simultaneously experienced BOTH inflation AND deflation.

On one hand, asset prices collapsed. Stocks dropped like a rock, and people felt much more poor.

But as the currency fell, suddenly imports became MUCH more expensive. So retail prices actually increased as consumers paid more, especially for imported goods.

This is about the worst economic scenario imaginable– asset prices falling with retail prices rising. But it happened.

Three important lessons I’d like to highlight:

1) Perhaps the great financial debate of our time is whether the unprecedented monetary expansion over the last several years will result in inflation OR deflation.

There are many a brilliant mind firmly entrenched in one camp or the other.

And the point is, there could easily be BOTH.

2) No one can predict precisely WHEN a correction will occur. But when the great unraveling does unfold, history shows that it happens very quickly.

3) People allow themselves to believe impossible things.

They’ll believe that asset prices can, will, and SHOULD go up forever.

They’ll believe that conjuring trillions of dollars out of thin air is consequence-free.

But they refuse to believe in the possibility that something will go wrong.

This time is never different.

Rajeev : We r at same crossroad again .. ALERT... This time dip is not a buy but EXIT and Sit on CASH ... 

Yes bank Sell call : Channel pattern 76.8% retraced

PLANET X - NIBIRU Crop Circles Tell ARRIVAL Date & Its NOT GOOD NEWS 2015

Technical charts - Reliance / SBIN & ICICI - Self explained charts

DE30 - NIfty - Banknifty - Dow - S&P trader call at cmp live

De30 Sell @ cmp 11385 stop @ 11460 tgt 11200 - 11050 - 10800

NIfty Sell @ CMP 8357 Stop @ 8405 tgt 8200 - 8100 - 8050

Bank nifty  Sell @ CMP 18350 Stop @ 18500 tgt 18000 - 17750 - 17500

Dow Sell @ CMP  18070 Stop @ 18220 tgt 17700 - 17400 - 17100

S&P Sell @ CMP 2116 sto p@ 2150 tgt 2060 - 2010 - 1900

Hot Explosive Breaking News: It’s Contagion: Banks in the Bucket

Sunday, June 21, 2015 14:58

It’s Contagion: Banks in the Bucket

 

by Tom Heneghan, International Intelligence Expert

source

UNITED States of America  -  It can now be reported that the Greek euro denominated debt has escalated to $360 billion.  This now represents as much as $25 TRILLION of worthless cross-collateralized derivatives, which are now outstanding with the Bank of England and the Bank of New York Mellon as counter parties.

 

They have joined Bank of America, JPMorgan Chase, Citibank of New York, German Deutsche Bank, Societe Generale of France and Barclays Bank of England as catching full scale contagion disease.

 

Without a Greek deal all of these aforementioned banks collapse leading to capital controls and the possibility of worldwide bank runs.

 

At this hour it is all about the repo rate, the lack of liquidity in the system leading to a derivative debacle.

 

We can also divulge that the Greek government is enraged having learned that various financial ministers tied to European Union nations have created secret offshore tax havens in the Cayman Islands using the euro payments of the Greek People to establish these illegal offshore accounts.

 

Note:  IMF Managing Director Christine Lagarde has now opened up a massive investigation of this money laundry.

 

P.S.  With massive financial Armageddon imminent aka a massive worldwide crooked bank “BAIL-IN”, the NAZI Paperclip U.S. NSA continues to script racial incidents aka FBI Division 5 racial “psy ops” (using mind control scalar technology linked to U.S. cell phones) as test runs in advance of another 9/11 BLACK OP-style False Flag Psy Ops reference a bio-chemical attack on the American People to be blamed on the “crisis actors” British Petroleum and British Intelligence bought and paid for puppets, the British Blackwater trained ISIS group.

 

History lesson:  The first British bio-chemical attack on the American People took place at the end of the American Revolutionary War when British General Cornwallis infected thousands of black slaves with smallpox and tried to transport them into the American and French army lines that were within five miles of the British and German Hessian forces.

 

The bio-chemical attack failed and the British and German Hessian mercenaries were routed by Washington and Lafayette leading to British capitulation at Yorktown and the end of the American Revolutionary War and freedom and liberty from the tyrannical British monarchy.

 

In closing, beware of certain American politicians that voted for the Patriot Act and the Bush-British illegal war in Iraq that resulted in the murders and/or injury of millions of innocent Iraqi civilians based on false evidence reference NO weapons of mass destruction, who now want to use a scripted racial incident in the American south as a predicate to shred the 2nd Amendment to the Constitution of the United States, the supreme law of our land.

 

Guess, folks, who the leader is of the chorus to disarm the American People:  her initials are HRC.

 

So, after more than 200 years of American history with the Second American Revolution due to commence immediately, identify the enemy, it is still the British Monarchy!!!

 

Remember that British piece of crap that used to be on CNN, Piers Morgan, who wanted to disarm the American People, shred the Constitution and half-hearted jokes in having the United States be returned to British monarchial rule.

Gold Buy trend Technical report

Gold in short-term we can expect rise in the futures contract traded on the Multi Commodity Exchange (MCX) seems to be on the fresh upside move. The contract is showing breakout as the prices are trading above 27050 Rs/10 gm just crossing the 50% resistance level, where as the support is seen at 26860 Rs/10 gm which is 38.2% retracement of point B to Point C.

After testing the lower level of 26350 at point C prices has reverted from the lower level and in the past few trading session is trading in the range where on higher side it is failing to cross 27080 level and on lower side support is seen at 26800 Rs/10 gm. Once the resistance level of 27080 is crossed prices will rise to test 273750 Rs/10 gm immediately.  A fresh rally to test the next resistance at  27375  looks likely in the coming days. A strong break above this hurdle can take the contract further higher to the next target of 27680 Rs/10 gm.

Short-term traders can trade with support of 26860 and can look forward for the target of 27375 and 27700 levels.