Friday, October 2, 2015

What Did We Learn in September?

In September we actually got quite a bit of new and potentially useful information in regards to the two big questions we are following here on the blog. As a reminder to readers, those questions are:

1) Will we get another major global financial crisis worse than 2008?
2) Will the IMF eventually use the SDR as a new global reserve currency?

Below are links to articles we ran on the blog that directly relate to these two questions and the potential timing for these events.


Saudi Central Banker Sees No Threat to Dollar Peg - comments made by a Saudi Central Banker seem to imply they expect no changes in the use of the US dollar as a peg for oil trading any time soon.

Nomi Prins online interview - In an online interview with King World News, Nomi Prins joins with those forecasting another major global financial crisis but says we are not yet at the point for the crisis to begin. 

BIS Chief Economist says Global Central Bank is "out of the question" - In a recent interview, BIS Chief Economist Claudio Borio said a global central bank is "out of the question" and "neither feasible nor desirable."

Jim Rickards twitter feed - Watch for September 2016 - In a very interesting twitter comment, Jim Rickards seems to suggest his forecast for a major currency event will unfold between March and September 2016 as you can see in this image of an article he wrote for the October 2015 issue of his paid subscriber newsletter.

After Jim Rickards posted the tweet above, we did two blog articles that looked at this more in depth:

Jim Rickards vs. Jim Rickards - compares recent comments Jim Rickards has made on the possible timing for a major currency event. (September 2016 or some time in the next 3-5 years?)

Jim Rickards vs. the BIS (Claudio Borio) - compares the recent statement by Mr. Borio that a global central bank is "out of the question" with Jim Rickards forecast that the IMF will act in the role of a global central bank in a coming crisis. Do these conflict?
My added comments:

Also in September we learned that all the forecasts of major crisis predicted to start in September missed the mark. There were too many to list here, but all the following events were used by various forecasters to predict that a crisis would begin in September:

- Shemitah (based on Jewish history and tradition)

- September 23rd - some said cryptic movie and TV references to this date foreshadowed a major crisis event to start on this day

- Papal visit to the US/UN - some said the Pope would announce the start of a new world order 

- UN Sustainable Goals Conference - some said a new world order and/or new global currency would be announced at this conference in combination with the visit by the Pope.

- September 27-28 Blood Moons - again some said this natural event was a sign that a crisis or some type of bad event would begin. 

Many of those predicting a crisis to begin in September still feel one is imminent and will happen either in October or before the end of this year, but September came and went without a major crisis or collapse.

I will repeat that the most reliable sources we have had here on the blog are not telling me they expect an imminent crisis. Jim Rickards and Nomi Prins have hinted that they think 2016 will be an important year, but not this fall. 

All we can do here is report what actually does happen. We claim no ability of any kind to predict future events or the timing of any future events. We will try to report the best and most accurate information we can find as always.

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