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When the Financial Tornado Hits

Posted on Monday, 23rd May 2011 @ 12:16 PM by Text Size A | A | A

by John Robb

 

The most likely scenario for the next decade starts with the
resumption of global economic depression (D2).  Economies shrink.
Wealth evaporates as former “assets” become worthless.  Commodities
fall (even energy) due to declines in economic activity.  Currencies
gyrate, explode, and/or evaporate.
In this environment, sovereigns will begin to default as the
industrial nation-state model runs out of gas.  Developed nation-states
will find themselves crushed between bailouts of their cronies and
excess spending (i.e. social spending (EU), national security spending
(US), or mercantilist over-investment (China).  Developing nations will
just implode.
Things will continue on this track until one of two things happen:

  • things really begin to fail (complete system breakdown) or
  • new, better economic and social systems become viable as
    replacements to our broken one.

I’m betting on new economic and social systems.  Part of that bet,
and something many people now get, is accomplished through the
establishment of self-reliant resilient communities.  However, resilient
communities aren’t a sufficient replacement, in and of themselves
(unless you want to turn back the clock to the 1800s).  By themselves,
they don’t represent a superior alternative to a failing and flailing
global system.  Something else is needed, but what?
It’s simple.  What’s needed are (note the plural here), virtual
global economic systems built on a sound footing (i.e. better and more
sensible rules than we currently have), prosperous participants, and a
hard currency.  Systems that people can flee to when currencies become
scarce (deflation) or worthless (inflation) or nation-state political
systems fail (corruption/crime) or flail (repression).
My advice to you: when you see a system that looks
like the one outlined above, start to diversify your economic activity
into it as soon as is practicable.

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