As practically the entire world seems to be nearing the end of its run financially, many people are beginning to wonder how much longer America has before our own teetering house of cards finally falls. Nobody can say for sure how it will all play out, of course, but there are a number of potential scenarios that could act as trigger events to bring about a cataclysmic economic collapse here in the United States, in the very near future. According to Jim Willie from GoldenJackass.com, the following imminent events could predicate a complete financial breakdown, unlike anything ever before seen in America:
1) Plummeting oil prices. As I’m writing this, oil prices have already dipped below $30 a barrel, which Willie suggests is a major indicator of impending financial doom.
2) Bank failures due to oil and gas hedge expiration. Many companies locked in higher prices for oil sales in 2014, but not indefinitely. Declining revenues from deflating oil and gas prices could trigger a string of bank failures, leading to a collapse.
3) Default from emerging market debt. Such debt currently clocks in at nearly $20 trillion, and experts predict a major default in 2016.
4) Saudi Arabia concedes to Chinese oil sales with renminbi (RMB) currency. With Russia now accepting renminbi currency as payments for oil, the U.S. dollar is further sliding away from being the world’s reserve currency. CONTINUE