There are many rumours now spreading in financial circles that the debt burden in saving the World last year was not enough and the structural faults still remain and are in fact worse than ever.

This week GOLD suddenly shot up and the INDEPENDENT raised the first MEDIA report about the potential crash of the US Dollar/World Financial System.

Meetings have been taking place this week where it has been proposed to SHUT DOWN the banking system in the USA on 25 October for 26 October in order to re-calibrate the World Economy and introduce a basket of currencies or an IMF currency instead of the dollar.

This could mean the POUND Is sunk as well ? No idea to be fair. The EURO is relatively safe.

What this means in effect is that for one week all banks could be shut as they adjust their currency.

Have I evidence of this happening - well several banks are already announcing this in the USA - here is one :
www.redfcu.org/ who spells it out in no uncertain terms with dates.

If you are a big worrier then get some GOLD ( as is already happening with big investors and rich people ) or make sure you have ready cash taken out of your bank to last you at least a week on Friday 23 October.

No idea whether the INDEPENDENT will start to report this ( supposedly they upset many people in the USA government and banking with their exclusive last week about this )

This could be very positive for our country because our current debt is unsustainable. BROWN has effectively killed the pound - and BUSH/OBAMA the dollar with their silly plan to "spend" their way out of the crash. All they did was postpone the crash until they could "Manage" it this year..........

My food stocks are high just in case of panic on the High Street I might add and we are already stocking up Christmas food that will last until Christmas just in case the currency thing takes more than a week to sort out.........

BR, you are a bit like the boy who cried wolf- you are constantly warning people of imminent disasters that never actually happen, that if one day you did predict something that was true no one would listen.

Less is more.

I have called the financial meltdown totally correctly ! I dont think I have suggested any other disasters ? I lack a crystal ball.

My Financial View has been the same all the way through - if you borrow or print money you do not have and cant pay it back then you go under eventually.

Credit cards - overdrafts - Bail Outs - national debt - neg equity - oversized mortgages : all these things lead to one thing. Bankruptacy - whether as an individual or a country or a currency.

Therefore I am flagging up that from October 25th ( and I am backed by the Independent Newspaper this week ) there is predicted a dollar collapse and bank holiday. Even if we get to September next year without this collapse - then the debt is still there - just because people want to believe that the GREEN SHOOTS are coming does not make it true.

I am not being gloomy about this - for those of you who dont have huge debts and who live within their means and prepare then this is no worry at all. It wont effect me because I can survive without credit and generally have virtually none at any time. I dont have savings either so I cant "lose" my money. I live for the day and within my means. I dont build up material goods and I never gamble.

You dont have to believe me - but I happened to work in finance for the Government during the last recession and so have first hand experience about these things. I can tell you that in 2009 things are far worse - maybe 1000 times worse than back then.

Usually only a war can save an economy from the depth of problem that we find ourselves in - I am not predicting a war I might add - but I do suggest you go back to history books from the 1930s and see how the last Depression ended.

the price of gold has shot up in the last few days..is BR part of s syndicate manipulating the price ?

Just to be safe I'm stocking up on tins of baked beans for me and tuna fish for the cat.

While people continue to donate millions to Children in Need, and spend fortunes on phone calls to Strictly Come Dancing and XFactor there is still lots of money around which people feel they can give away without starving. The true recession hasn't hit yet. Once the unemployed guy 2 doors from me cuts down on his cigarettes and booze, and his kids can't have the latest gadgets I'll know things are getting serious.

I agree Emma - the real pain is not yet here.

The pain is to come......

The Gold price is real - just look at the TV adverts begging for old gold.

The price is likely to go higher and higher if the current currency crisis continues.