We Are In A Global Economic Collapse

Interview with David Haggith, January 13, 2016

The Daily Coin

I believe we can all agree that if you are inside looking out the world looks different from if you are outside looking in. On December 16, 2015 mid afternoon our world changed. Janet Yellen stood before the world and announced the Federal Reserve would raise interest rates by the slightest of margins to 0.25%. I have to admit that I have said for a long time this would never happen. Well it did. I was wrong. Everyone in the world will now have the privilege of paying for the mistake made by the Federal Reserve. The mistake began in 2008 and was set back on course on December 16, 2015.

For the past several years the Federal Reserve has instituted a program called Quantitive Easing (QE). This program, basically, printed currency at the Federal Reserve and then gave it to the “too big to jail” banks.

Here is how Richard Fisher, former Dallas Federal Reserve President, describes what the Federal Reserve did, specifically, and how QE effected the stock market:

What the Fed did — and I was part of that group — is we front-loaded a tremendous market rally, starting in 2009.
It’s sort of what I call the “reverse Whimpy factor” — give me two hamburgers today for one tomorrow.
I’m not surprised that almost every index you can look at … was down significantly. (talking about the 2016 opening of the stock market)

The problem with the interest rate rise is not the interest itself, but, as David Haggith explains:

It’s not about a quarter of a percent interest, big deal, we can all scarf that up and not be damaged by just the interest itself. But it’s the fact we are past that point where “bad news is good news”.
If you’re balancing your bank account and you accidentally put $2 in the DEPOSIT column instead of the WITHDRAWAL column it’s a $4 difference not a $2 difference. Instead of going $2 up on your BALANCE sheet, you should’ve gone $2 down. So the difference in where your balance is, is $4 not $2. It’s worse than just the $2 difference. That’s the way it is with “bad news, good news”

Well, this is the exact point we find ourselves today. The Federal Reserve, through Richard Fisher, has explained they duped the American public, again, and now a lot, if not all, of the so-called “stock market rally” is in for a “digestive period”. Meaning, the so-called “stock market rally” over the past several years is going to need to correct. That $2 error in accounting has now morphed into the reality of a $4 correction. It doesn’t take a genius, or an economist, to know that a bumpy road is now inevitable. How bumpy? Well, your guess is as good as mine. The Federal Reserve is nothing more than a bunch of thieving liars, so, anything they say must be taken with a very large grain of salt. Since the Federal Reserve sets monetary policy in the U.S. it is they that will determine the next steps in this unfolding economic collapse.

Let’s listen in and allow David Haggith to explain all of what has happened and what could potentially happen over the coming months. This is one you will want to listen to every minute as David does an outstanding job of describing the global economic collapse that was triggered on December 16, 2015.


Rory Hall, Editor-in-Chief of The Daily Coin, has written over 700 articles and produced more than 200 videos about the precious metals market, economic and monetary policies as well as geopolitical events since 1987. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver and Silver Doctors, SGTReport, just to name a few. Rory has contributed daily to SGTReport since 2012. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few. Visit The Daily Coin website and The Daily Coin YouTube channels to enjoy original and some of the best economic, precious metals, geopolitical and preparedness news from around the world.

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