Global Economic Crisis RED ALERT, Asian Financial Tsunami Wave About to Hit
Economics / Financial Crash Feb 12, 2010 - 05:16 AM GMTBy: Matthias_Chang
This will be one of my shortest articles as it is written as a RED ALERT.
When I send out Red Alerts, it is a dire warning and a call for immediate action to protect your wealth (if there is any remaining).
Of late, I have been reading articles (some of which I have posted to the website) suggesting that Greece would be the trigger for the 2nd wave of the Global Tsunami. Obviously, if Greece defaults and goes belly up, it will have a disastrous effect, but not in the way that I see it.There may be some manipulated “flight to safety to US dollars” (which itself is a dumb thing to do) in the short run. How can dollar be a currency haven when its value is total junk – toilet paper!
Such so-called “flight to safety” is a reflection of the intensity of the on-going currency warfare, principally between the Dollar and the Euro and skirmishes between the Dollar and the Yuan. But, this manipulation by the US global banks would not last and will be exposed for what it is – a global scam.
Since July last year, policy makers and so-called experts have relied on economic recovery in Asia to spur global growth and the resumption of the good times. Such thinking reflects a muddle mind.
Every economy in Asia is export-orientated and the domestic economies are just too small to take up the drastic fall in exports. Following Bernanke’s reckless lead, they have all jumped on the band wagon of quantitative easing – the printing of massive fiat monies (electronically or otherwise). Inflation has soared!
In an earlier posting to my website, I have indicated that there is a weak link holding up the Asian economies, and it is not China.
It is Singapore - touted by her US financial masters as an island of prosperity and financial stability. This is one of the biggest hoax since the collapse of Lehman Bros.
Singapore’s ratio of debt to GDP is a whopping 99.2 percent.
But no one seems to be taking any notice. Why are they making so much fuss over Greece, when Singapore is worse off?
If Singapore goes belly up, forget about any substantial growth in Asia to spur global recovery. Anyone who knows about the way business is done in the ASEAN region knows too well that if Singapore defaults, Indonesia will be the first to sink, followed rapidly by Thailand and Malaysia. The contagion will then spread to the rest of Asia. China will not be able to put out the fire.
China will survive the turmoil, but barely.
This is my nightmare scenario. And the second Tsunami is coming.
When?
After the failure of Europe to solve the problems of Greece, Spain and Portugal!
© Copyright Shamus Cooke , Global Research, 2010
Disclaimer: The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of the Centre for Research on Globalization. The contents of this article are of sole responsibility of the author(s). The Centre for Research on Globalization will not be responsible or liable for any inaccurate or incorrect statements contained in this article.
© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.
