Economic Crisis and “Social Explosion”

From GlobalResearch.ca:

The IMF recently warned that the United States must raise its $14.3 trillion debt ceiling or it would risk default on its debt. This type of news story was unimaginable just four years ago, but then, so was the idea that the United States Federal Reserve would be audited by the IMF, as the Fund does to poor Third World countries; but then, that happened back in 2008.

The sovereign debt crisis currently unfolding in Europe is the greatest current threat to global financial markets, according to the policy maker at the Bank of England. However, economists from the Bank of China have recently warned that, “the U.S. sovereign debt problem is more hazardous than the European debt crisis,” and that, “the U.S. sovereign debt risk will continue to intensify in the next few years.”

Josef Ackerman, CEO of Deutsche Bank and member of the Steering Committee of the Bilderberg Group recently stated that, “if the crisis in Greece spreads to the rest of the euro zone, it could be a bigger disaster than the fall of Lehman Brothers.”

The debt contagion will further consume Ireland and Portugal, with Spain, Italy, and Belgium not far behind. Eventually, the Greek crisis would go all the way to America. In January of this year, the IMF warned Japan, Brazil, and America about the potential for a massive sovereign debt crisis to grip their nations......read on