How to Prepare for the Coming Collapse in Credit – Chris Martenson

Chris Martenson has a new book out called “Prosper”. A new subscriber (Thanks Andrew R!) mentioned how much he was enjoying the audiobook version, so we’ve ordered it ourselves. We’ve featured a lot of Chris’s work over the years including his crash course – which you can see for free here. And everything he does comes highly recommended. We’ve grabbed the audio version too – great for the summer road trips coming up. See the link below for the various options – paperback, kindle, audio etc:

Anyway, in line with the book release Chris has been conducting  a few interviews, so we thought it worth sharing a couple we have enjoyed over the past week. The first with Greg Hunter of USAWatchDog and the 2nd with Mike Maloney of GoldSilver..com.

[We’ve also this week posted Chris Martenson’s latest “opus”on gold:

The Screaming Fundamentals For Owning Gold – Chris Martenson So you might want to check that out too.]

Collapse in Credit Coming-Chris Martenson

Join Greg Hunter as he goes One-on-One with Dr. Chris Martenson of PeakProsperity.com and co-author of the new book “Prosper! How to Prepare for the Future and Create a World Worth Inheriting.”

  • Co-founder of Peak Prosperity and economic researcher Dr. Chris Martenson warns the next financial collapse will start with a default in the credit markets. Dr. Martenson explains:

“Demand is down. Supply is down. That’s the underlying story. We think the first part of this story is these credit instruments will get wiped out. It could be a sovereign default. Who’s first? That is the question in the world. Is it going to Venezuela? Is it going to be Brazil? Could it be Turkey? Interesting story about Turkey with the downed Russian jet. We just don’t know. If we have a big sovereign default in one of these countries, that could be the trigger. Maybe it’s a company like Glencore that would be a repeat of Lehman. We just don’t know, but we do know there is going to be a collapse in the credit, and then we will have the next stage of this where the central banks freak out one more time and pour more money into the markets. We believe, this time, money will be given to people like you and me. . . . Once the Federal Reserve sends you and me money, whether it’s a tax rebate or check, it doesn’t matter. You should run, not walk, and buy anything you possibly can with that because that is the next stage of this story. Stage one is collapse.”

  • Can’t this go on as long as the Fed prints money? Martenson says:

“The way we have constructed the economy is unsustainable. Everybody knows that. You can’t grow infinitely on a finite planet. Look at the debt. We have added $57 trillion of new debt to the world since the crisis in 2007–$57 trillion. How much has the global economy grown in that span of time? The answer is about one-fifth as much. Anybody knows you can’t grow your debt faster than you are growing your income. That’s the system we are trying to sustain. We don’t think it’s sustainable, which is why we say people need to begin preparing, but we think there is a way to prosper too. Everything we see now is confirming that we are at the beginning of a very long period of very disruptive adjustments.”

  • On the unsustainability of ever expanding debt, Dr. Martenson contends:

“The United States has doubled and redoubled its debt and gone through five doublings of our debt in four decades. If we want the next two decades to look like anything like the last two decades, we are going to have to see not one, but at least two doublings of our debt. Really? How are we going to create more debt by a full doubling? The answer is–we won’t.”

(There is much more in the video interview.)

 

Hard Assets To Evaporate Almost Instantly To Retail Investors – Mike Maloney & Chris Martenson

Mike Maloney speaks with Chris Martenson of PeakProsperity.com about his latest book ‘Prosper!’, co written with Adam Taggart.

  • They discuss “resilience” and what it means to Chris. How being prepared for if things go bad, also will be of help to you even if things keep on trucking along nicely.
  • Why you should transition to tangible assets.
  • How Chris agrees with Mike Maloney that we will see a massive debt deflation first and so you should be prepared to lose money initially.
  • How Central banks will “freak out” in response and actually issue money directly to “Main Street”. So you should have a buy list prepared if this doe happen so you can “rush out and buy” as soon as the central banks do this.
  • How hard assets will then vanish to the average investor as big money gobbles them up.
  • Why you should be very careful about consumptive debt right now.
  • Why you should make the most of you most important asset – time.
  • How you should strive for mastery in your areas of passion. Knowing, doing and being.
  • Finally they discuss perhaps the most important concept of “Taking control by letting go and putting your time to its highest use”.

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