Tuesday, April 12, 2016

IMF downgrades entire global economy following bank warnings of imminent defaults

It is both sad and funny how the mainstream propagandists can say that the economy and financial systems are absolutely fine one week, and then less than five days later warn of imminent disaster due to the potential of global credit defaults.  But this is exactly what has happened as the IMF downgraded the entire global economy on April 12, and both Bank of America and Deutsche Bank publicly announced serious dangers in the credit markets.

Moments ago the IMF did what it does better than anyone (with the exception of the Fed): it once again admitted its forecast of world growth had been too optimistic, and as a result in its just released quarterly World Economic Outlook report, it cut its forecast for 2016 global GDP growth from 3.4% to 3.2%, and from 3.6% to 3.5% for 2017. Indicatively, back in July 2014 the IMF was forecasting 4.0% GDP growth in 2016. It is now 20% lower. - Zerohedge

Yet in addition to the IMF's new forecast of an economic slowdown, and European bank warnings of credit defaults, the biggest danger may be coming from the Far East as a former IMF Chief Economist for the IMF announced that Japan is in its 'Endgame', and has reached the point of no return as it resides at a debt level of 250% of its annual GDP.

There is a reason why we have seen multiple central banks move into negative interest rates, call for direct payments to their citizens, and promote the idea of banning cash, because the reality is that the world is rushing headlong into the next financial crisis, and the clock is ticking for everyone to secure their wealth and get out of the system before they lose it all.

And we all know where the best safe haven is.


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