Rogers: “100% Chance Of Crisis Worse Than 2008,” Italy Implodes

November 9th, 2011

FAKE NEWS for the Zionist agenda

Record surge in bond yields as Italian debt crisis passes point of no return

Paul Joseph Watson
Prison Planet.com
Wednesday, November 9, 2011

Veteran investor Jim Rogers warned this morning that there is a “100% chance” the world is facing a financial crisis worse than 2008, as Italy was plunged into chaos on the back of soaring bond yields which now make the country’s huge debt unsustainable, mandating yet another EU bailout.

“We’re certainly going to have more crises coming out of Europe and America; the world is in trouble. The world has been spending staggering amounts of money that it doesn’t have for a few decades now, and it’s all coming home to roost,” Rogers, CEO and chairman Rogers Holdings told CNBC.

Rogers said the only solution was to allow countries to go bankrupt and start again, arguing that the continuing cycle of debt would only exacerbate the problem in the long term.

“Last time, America quadrupled its debt. The system is much more extended now, and America cannot quadruple its debt again. Greece cannot double its debt again. The next time around is going to be much worse,” Rogers said, adding that the chance of the Eurozone crisis causing another global financial meltdown was “100 per cent” and that the fallout would be worse than the 2008 collapse.

Rogers’ warning came as Italy was plunged into crisis and bond yields surged to unsustainable levels despite Prime Minister Berlusconi’s promise to resign, a move that was seen as a stabilizing factor.

A d v e r t i s e m e n t

“The situation in Italy has grown increasingly precarious with the yield on bonds passing the level which suggests the nation will need to be bailed out. At 10.50am the yield on the 10-year benchmark stood at 7.419%, a massive 0.7% jump on the day,” reports City Wire.

Bond yields are the return which the government offers investors who buy debt in the form of bonds. The yield is surging because investors globally are dumping Italian bonds, forcing the government to crank the interest rate higher and higher in order to attract buyers.

This record high in bond yields now means that Italy’s debt is unsustainable without the aid of yet another EU bailout, which will come with strings attached in the form of austerity measures that are almost guaranteed to provoke unrest on a similar scale to what we’ve already witnessed in Greece.

“Right now Italy has a debt to GDP ratio of 118 percent. If they keep expanding that debt it is going to result in a financial nightmare, but if they try to implement strict austerity measures it is also going to result in a financial nightmare. They are damned if they do and they are damned if they don’t,” explains Economic Collapse Blog.

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Paul Joseph Watson is the editor and writer for Prison Planet.com. He is the author of Order Out Of Chaos. Watson is also a regular fill-in host for The Alex Jones Show.

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5 Responses to “Rogers: “100% Chance Of Crisis Worse Than 2008,” Italy Implodes”

They cannot pay the 7.419 percent interest on their bonds other than printing money which will make them even more worthless. I cannot wait for all these banks to go. The only problem is the banker power pig parasites will try to start WW3 over it. I wish I knew when Italy and Greece were going to declare bankruptcy. There is so much fraud you cannot figure it out. The amazing part about it if that were me I would be spending the rest if my life in jail for the fraud alone. I sure am going to enjoy to see thousands of bankers either get executed or spend the rest of their lives in jail. Once the money system goes they will have no money to bribe their way out.
No problem! Just print the money and bail them out. Americans love to pay $7.20 a loaf for bread.
Evildick – Yes, you are absolutely right. You and I would end up making license plates if we even attempted to do what men like Ben Bernanke do every day – which represents legally-sanctioned counterfeiting. Gold and silver are money, according to our laws. Yet they, along with the Greeks and Italians, continue to practice the fraud of issuing fiat currencies. It is all wrong, immoral, unjust, destructive, and doomed to fail.

I just wonder how much longer you and I are going to be allowed to tell it like it is, without ending up in prison ourselves. R.U.

Peace Frog Reply:
November 9th, 2011 at 5:27 am

there just aren’t enough prisons to keep us all in,

but there’s plenty of room in all the FEMA camps
Rogers said the only solution was to allow countries to go bankrupt and start again, arguing that the continuing cycle of debt would only exacerbate the problem in the long term.

YOU CAN GO BANKRUPT – YOUR HOUSE – YOUR BANK CAN

but not the country you live in …. because it would require debt forgiveness …. the INTERNATIIONAL BANKSTERS AND HEADS OF GOVERNMENTS WHO SERVE THEM- spent years wasting taxpayer money and overspending , starting over … UNTHINKABLE TO THEM