"Basically I think that everything that you are hearing here. Everything that you have listened to is a bunch of bullsh*t. Basel II, Basel III, payment systems, I don't care! Your personal lives are at stake here."
"Anybody who gets prepared is going to become super wealthy. The ones that don't get prepared in this room are going to become government employees when the government nationalizes the bank system, you're going to be working for the government." - Mike Maloney
Mike Maloney was recently invited to speak at the 8th International Banking Forum in Sochi, Russia. The theme was "Banks Of Russia - 21st Century". The purpose of the conference was for bankers from around the world to meet and discuss the current state of the global economy, the banking system, and strategies for protecting their personal wealth.
The first morning passed without too much fuss as each speaker gave an introduction and a brief on his or her area of expertise. However, by the end of the day it became obvious that something was definitely wrong. After speaking with many of the attendees, Mike was alarmed to find that practically none of the international bankers understood our present monetary system. Most had no idea how currency is created!
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"This is the first time since the Great Depression that the currency supply is collapsing. It has collapsed by over a trillion dollars."
"If the currency supply was not collapsing I'd say that this could be wrong. But I say that there is no chance this could be wrong because the currency supply is also contracting and the stock markets are in a bubble."
"Do you see a dead cat bounce pattern? I do." - Mike MaloneyWe have always wondered exactly how well modern day bankers understand the worldwide predicament that we find ourselves in. Ladies and gentlemen, our worst fears have been confirmed - the lights are on, but nobody is home.
Source: Mike Maloney at GoldSilver.com
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