Posted by Curmudgeon on May 01, 2015 at 08:04:45:
In Reply to: posted by John Matthews on April 14, 2015 at 08:51:56:
Hi Mr Matthews, sorry about the delay in answering.
My understanding of the words "Fall of the great
city of Babylon" is that the entire financial and
economic infrastructure which keeps world trade
going is going to collapse.
Is this past tense and has already happened? No.
Is this a repeat of what has already happened? No
this has never happened on a world scale before
because the financial systems of the main trading
countries have never been interlinked so
inextricably before. However it has certainly
happened to individual countries which have done the
same thing as the whole world is now doing. Think
ancient Rome, Holland and the tulips, Weimar
Germany, Argentina and Zimbabwe.
What we now have are technical gadgets and tricks
which can bring about a collapse in confidence much
faster than previously in history. Ever since Nixon
took the last vestiges of a gold-backed monetary
system away in 1971, the financial cowboys have had
free reign.
Already in the eighties we had the self-named
'Masters of the Universe' making so much money so
quickly and so easily that they were only half-
joking. The speed at which fantastic mountains of
debt have been allowed to accumulate in the world's
financial system and the explosive increase in pace
in this debt accumulation over the last seven years,
is mind-numbing.
When is the collapse going to happen? As one who
has been observing this lot for 35 years, my guess
is that 24 days or 24 weeks is the best bet.