Gregory Mannarino of TradersChoice.net has previously warned that when the global debt bubble bursts it could lead to the deaths of millions upon millions of people on a worldwide scale. By all accounts, we are witnessing an unprecedented economic and financial situation across the globe.
Investors are dumping stocks in major European banks in particular, with the Royal Bank of Scotland losing 30% of its market value since June.
The banks are “preparing for an economic nuclear winter situation,” an insider told CNBC. “This could mean triggering Article 50, referendum in other European nations leading to a break-up of the euro or sterling hitting below $1.20 or lower.”
“The banks are ready for anything now.”
The public is losing faith in the banks; demand for personal safes is exploding as people refuse to deposit cash in bank accounts out of fear of “negative interest rates.”
“Savers now face the prospect of being charged fees on their deposits,” the Wall Street Journal reported. “Some companies and large private depositors already incur charges.”
Central bankers and the technocratic elite are blaming Brexit for the current economic downfall, but as Infowars documented for years, the global economy has been disintegrating long before British voters decided to leave the EU.
In January, five months before the Brexit vote, a top banker and Davos insider admitted that a global economic collapse is imminent because the central banks have lost control and are completely out of ideas.
Around the same time, the Royal Bank of Scotland warned its clients to “sell everything” and exit the stock market as soon as possible, a warning which indicates the global economy is heading towards a 1929-style Great Depression.
“Sell everything except high-quality bonds,” warned Andrew Roberts, the bank’s research chief for European economics and rates. “We think investors should be afraid.”
And at the beginning of the year, the S&P’s 500 had its worst five-day start on record since 1929 and the Dow Jones industrial average had its worst start since 1897.