The Plague of the Black Debt

2013, Economics  -   51 Comments
Ratings: 5.41/10from 241 users.

Everything about the way you live your life could change very badly. How you save your money, your retirement plan, the way you safeguard your assets... all of these things they believe are under a great danger. They don't make this forecast without evidence, they're simply looking at their research and they're presenting its reasonable results. They apparently did the same when they foresaw the global financial crisis, the property meltdown and the downfall of the banks.

In fact in the 12 years they've been circulating MoneyWeek magazine this is the most genuine warning they've ever made. As you'll see in this documentary film they have exposed a very difficult problem at the center of the financial structure. They believe that the consequences of this problem can't be avoided and the recession, loss of jobs and the turbulence you see right now is only the first stage of the problem. Many people think that this is as bad as it will get but the truth is it's only the start. MoneyWeek says you'll certainly see the ramifications if this terrible problem spread out across Britain. No one will be able to escape the fallout.

In all documented history no country has ever came back from the financial situation that UK finds itself in today. No authority has ever been able to change this trend, no emergency operation has ever come close to a real resolution. This inevitable complication has only ever had one outcome - financial catastrophe.

You can of course try do debunk and dispute every single one of the facts in this documentary, but MoneyWeek are assured enough that you'll find they're correct about each assertion they make. Then you can determine the situation for yourself... will you do something now and take this opportunity to defend yourself and your family from the cataclysm that's unfolding in the financial system?

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51 Comments / User Reviews

  1. gorb

    Invest only in a situation where you can verify reality.

  2. gorb

    GREG R. I will not take everything you say with a grain of salt as a matter of fact I shall do the opposite.

  3. MRRC

    It's incredibly how it opens with some of our most vulnerable citizens - the elderly. The only thing governments are good for is passing laws, creating budgets and declaring war. They have NO clue about what makes the world and society function. If we (USA/Britain) need to rid ourselves of anything - it needs to be central banks (Bank of London and the Federal Reserve), bloated and inefficient military spending (fighting nefarious enemies), and multi-national corporations that transfer jobs over-seas while evading their tax responsibilities. That is, we need to get rid of the "monetary (profit) based economy" the world has suffered through for far too long, and instead move towards a "resource based economy" that values people and the natural resources rather than the gluttony of greed and profit. These "vampires" will literally suck an entire country dry and not care one bit.

  4. DustUp

    Best commenter name I've ever seen above: "Horst Manure" ...Hats off to you!

    MoneyWeek, like any mainstream or easily obtainable financial media, is there to give you the exact wrong advice when it counts, enabling their big boy owners to take your dough. It isn't their data that is bogus. And it is wise to prepare. They can even claim "they were correct" by saying that "interest rates will rise eventually". No doubt they will 10 or 20 years down the road. But it was designed to lead you to believe they will rise "any time now".

    What has happened to interest RATES they stated were absolutely going up? They absolutely went DOWN. They have gone NEGATIVE in several countries and will do so in many more UNLESS something else changes their plan. Check the 10 yr govt bonds in countries like Sweden, Switzerland, Japan, Germany, ... In the Usa they haven't gone negative yet but they have been falling. It is only a matter of time. The question is, how negative will they go and what method would be best to protect my dough?

    The thing that is fooling so many is the difference between price gouging and inflation. Stores and the like are trying to get as much as they can --while they can, since they have learned that all you do is whimper rather than find alternatives.

    If inflation is the watering down or devaluation of your currency, then what is DEFLATION? The first national bank of your mattress will see your currency able to buy more in the future, if the deflation continues. What signs are there that the deflation (the overall price trend of oil, houses, employment, and some others) is stopping? None. Yes, even your cash will buy more gold as the deflation continues. Now if some unknown force caused road apples to hit the fan, like a nuke emp wiping out much of a modern nation's computer controlled "machinery" of modern existence. That would bring another flavor of things to consider, such as food and water. Got any extra?

    Since it is difficult to tell which banks will fail, which will survive, how much or if withdrawal restrictions are to occur. It seems leaving any more than necessary at a location extremely convenient for the banksters and govt to get at it would be very unwise.

    Oh its a dandy trick. Confiscate your dough and put it in their pockets and then dribble you a bit back for all you own, so you can buy some food. One day you will wake up in bankster heaven, which is joe six pack hell.

    And for all you macho dudes who think you are going to storm the great halls with your big balls... Your pea shooters and muskets aren't going to cut it. Why do you think they have been militarizing the police? Did you know that if you score too high on their entrance tests they don't want you? How about the foreign troops they have trained who would have no problem shooting you, let alone our own gung ho types who do as ordered? Oh their conscience may catch up with them after they have shot a few too many. By then it is too late for the murdered. Chances are those with a heart may be in the minority anyway. They are absolutely trained that you are the enemy of all things good. The advanced weaponry the govt will bring to bear, if they need to, will disintegrate you in seconds just as it did the twin towers. What sliced a portion off of nearby cars, that portion being gone? Good luck on fighting those who took your money to feed and pay their protects well enough to decide they would rather shoot you than be you. Would rather fry a big group of you than be shot by you.

  5. tom

    we better get ready here in the US

  6. Anti

    What a propaganda film this is, ...NO MENTION OF THE BANKSTERS stealing the welfare cash saved and earning interest, Oh that's right, the Banksters have STOPPED paying interest on savings now haven't they, as it cuts into their FAT greedy profits , but the INTEREST they charge us for their Private Bankster Loans to the country are VAST, a BILLION a week !!
    How about having a PUBLIC NATIONAL BANK where we the people pay the interest to OURSELVES to the betterment of ALL and not as we do now pay all this interest to these few private banks which is crippling the nation under the burden of all this interest going to the few Zionist Bakster pigs who just print it out of thin air ,it costs them NOTHING what a scam.....

  7. ErnestineBass

    And WHO is loaning out all this "low interest" money?

    The IMF, the World Bank, and the wankers at the City of London, Inc.

    Funny how this fact is only mentioned in passing.

  8. Roy

    This is one of the longest commercials to sell a book I have ever seen. Good commercial, but a commercial just the same.

  9. Wimlemina Vinkema

    blablabla were all gonna lose our money but moneyweek is gonna save you............seriously all you say is that exponential growth is crazy yeah duh worthless documentary if you can call it that at all

  10. Marten Dekker

    What a biased and falsely premised Film. The lowering and lowering of tax rates for the wealthy and corporations has led to almost all nations, provinces, and municipalities being in vast debt and corporations having record wealth levels. Huge reserves of cash. Somebody isn't paying their fair share.

  11. Vitta

    Big commercial for sure, however the facts are facts. One thing not to confuse is when he says interest rates will rise he means the rate at which the government borrows money and NOT the BoE base rate. If we consider the Greek Crisis and how the interest rates rose there as a consequence of the budget deficit re-estimated at 15% rather than 8% as well as the Credit Rating Agencie's ratings which downgraded Greek debt one after the other to Junk Grade, the scenario of a UK collapse is not far fetched and can actually take place. The key questing is : Will long as S&P, Fitch and Moody's revise their ratings or not ???? IF they they prepared.

  12. Greg R.

    Saying the UK government only had 4 thousand public servants at its world dominating height is a joke, the world population in the 1800's was barely a billion. The disingenuous attack on the government's pension plan seems to be the real message. That of course is done for the benefit of private financial sector's insurance / retirement funds. Do you really think interest rates will rise? Let's look at this logically. If you raise the interest rates for governments, they'll default and then the investor loses all their investment. You keep it on the razor's edge and you'll have a steady lifetime of minimum payments. Only one of these options is profitable. Secondly, the pension plan is only one of many cuts a government can afford to make. Military spending could be cut just as easily, but no one in the private sector would benefit from this. Take everything here with a grain of salt.

  13. Jules Hawryluk

    All I can say is we can start World War 3, then our governments can create money and jobs. This article talks of welfare as being the only cause of our debt. But ever since Nixon closed the gold window we have create money from nothing. All we do is print it and and start another war. This of course also inflates our economy and the price of products goes up. Their is only one winner in this scenario and that is the 1% that already have most of worlds wealth. The "Builderbrug group have a solution to this problem and that is to reduce the world's population. Wars could be a good start? This article talks of personal debt, but our economy depends on our spending and they want us to be in debt.

    1. Tidus Stuart

      there is no economy there is no money.. it's all about how much you consume and throw away.

  14. Richard Neva

    Who the hell can save in this Jew infested economy? I barely have enough to eat living on a pittance of Social Security and having a mortgage!

    1. gustave courbet

      Espousing antisemitism or any kind of generalized bigotry demonstrates a basic inability to think rationally, and calls any other opinions of the issuer in to question.

    2. hukk

      that depends if you're a jew or not..... really....

    3. gustave courbet

      No it doesn't. Have you made the acquaintance of any jews? They posses the same range of foibles and virtues as the rest of us. I highly recommend you start reading outside of your comfort zone in order to gain a larger and more accurate perspective on reality.

  15. Andrej

    Totally misleading. Check PositiveMoney for real information on
    the topic, not this...Why is this here anyway? It's not a documentary,
    it's the world's longest commercial, trying to make you subscribe to the

  16. Black Scholar

    This here is GOOD KNOWLEDGE!! No wonder they are monitoring you, me, Us. They (the government) know the collapse is imminent. And they are causing it. They do not want to CHANGE from an oil based economy (petro-dollar) so they would rather TEAR UP this planet, than change from within. Only sick people REFUSE to change their ways for the better for themselves and humanity.

  17. socratesuk

    Roughly £50 billion a year is wasted on debt interest payments alone. The actual national debt stands somewhere just above £1 trillion (but we rarely talk about this, as realistically this will never be paid off). On top of this we have some of the highest personal debts in the world. Wages have largely stayed the same, whilst food and energy costs have risen. There is also a large amount of people that work in the private sector, particularly retail and hospitality who are living from pay-day loan to pay-day loan. There is also another growing crisis, there is now a growing number of people who earn so little that they pay no tax and little if any N.I contributions. This is particularly common in some fast-food outlets, and retail outlets where people now struggle to get full-time contracts and instead are employed on either casual contracts or 16-hour contracts with the promise of potential over-time. Its a complete mess. People have forgotten that the private sector is suppose to fund the public sector. On top of this we have an aging population, which will only put the NHS under more pressure. The press like to make a big deal about "spending cuts" but the big elephant in the room is public sector contracts which need to be changed. Sadly wages in the public sector need to come down and terms changed. For example the current solution to the shortage of doctors on a+e at night is to throw more money at doctors. Why not just change the contracts and require them to work one weekend a month instead? Another good example of where the public sector has become bloated is legal aid. Only today solicitors staged a walkout. (Sadly taxpayers have basically been funding large wages in what has become a big and expensive industry that relies heavily on state funding). The future does not look to good.

    Its a shame that a lot of "lefties" on here basically view debt as something that is not real. Debt is causing all kinds of terrible problems in our world. We cant just ignore it.

  18. artlover2

    what a load of horsesh&t

  19. Todd Morrow

    I don't understand the low ratings

  20. Luyang Han

    Whatever you say, I don't need to subscribe this magazine, Thanks:)

  21. Mars Sentinel

    confiscation WILL happen, but it won't be like you think. Google "Bail-In" to see what's gonna happen to your money in the bank.

  22. Badda Bing

    Since when does a shark tell you how to avoid another shark?
    This may not be obvious, but when things hit the unsustainable point and The People do march on for their rights, the first thing to do is to confiscate ALL the wealth held by each and every corporation, private financial institution in the country and abroad, and of course overturn each and every law made to protect these entities. With this wealth, We the People reset the clock and make a new Government. See, these fat cats in all their obnoxiousness, think that they are untouchable; that they are simply going to sail away into the sunset and leave us all here to tear each other apart in misery. Well, maybe 100 years ago it worked, but we just have too much information these days. The French Revolution will likely be a ballet compared to the head-rolling spectacle these chaps are setting themselves for. So We are not going to lose our homes, because we just wont leave them. We are not going to lose any money, because WE WILL TAKE IT FROM YOU. Our Country is not going to be in any debt, because WE WILL BURN THE BOOKS and probably roast you in the ashes, my dear fat cat. It is called "Social Disobedience", and if you push it, it gets a lot nastier. There was only one thing even the Roman Emperors feared, The People. We will always have the right and duty to take back power, by force if necessary, when those in power have turned corrupt and no longer defend OUR interests but their own. There is nothing like the experience of shared misery and fear, to bring people together. See, when we were all in our little worlds full of stuff, security and credit cards, we were easy to manipulate. But when the bread is taken from our mouths, we start talking to each other and looking for the culprits. Fatal mistake, dear fat cat. Fatal mistake. We "TOLERATED" the rich, the super-rich and the greedy because they were no obvious threat to us. Now, that has clearly changed.

  23. valueinvestorguy

    Shameless advertising and fear-mongering by MoneyWeek, The facts did not check out.

  24. race_to_the_bottom

    Right, Blame the costs of health care, pensions, and caring for the poor. Nothing here about the WARFARE state. The resources, not to mention the millions of dead, wasted on the first world war and then the second world war really has nothing to do with the debt. The fact that the government borrows from banks instead of issuing its own money is the REAL PROBLEM.

    Let the Exchequer begin to issue its own money to finance the governments spending and retire the debt by exchanging non interest bearing notes for the gilts as they become due.

    So the real problem is that the country is in thrall to the finance capitalists, as Lenin observed and wrote about a century ago. All that is necessary is to expropriate the expropriators.

  25. Harry Nutzack

    the ONLY monetary systems that collapse are ones abandoned by the global banking cartel. the banks of both the usa, and uk run that cartel. "national debt" in both those cases is a sasquatch, a "terror" that ONLY exists in anecdote. both the red and black ink in the ledgers of both countries is a work of pure fiction. our "debt" is paid by currency devaluation, thus, one day, both currencies will have lira like value. but that day will only dawn when some other pilot is steering the banking cartel, which won't happen during any of our lifetimes. it's ALL a con, the most elaborate 3 card monte game ever played. it is impossible to "hedge" against the game in any meaningful way, as ALL the rules of the game are laid out by those who run the con.

  26. Brian

    I always thought Ireland (ROI) was independent and not classed as Britain.

  27. Kansas Devil

    What tipped me off what the blatant omission of military spending and the heavy handed chastization of social services spending.

    The longest infomercial I have ever been through with the same con at the end.

  28. FreeRangeRadical

    Just as in the US, the UK needs to raise taxes on the highest income groups. Just as in the US, the UK needs to realize that "trickle down" economics are a failed proposition.

    Wealth sympathizers will say that the ultra-wealthy deserve what they have, but it bears remembering that most of the people employed in the factories and businesses owned by these individuals earn below-living wages, and often must draw public assistance in order to survive. We all have to pitch in, and thereby tighten our own belts, in order for the ultra-wealthy to remain ultra-wealthy. This must end.

    I have no problem with wealth. What I have a problem with is earning that wealth by paying employees a sub-standard wage and pocketing the difference while forcing EVERYONE ELSE to pitch in enough so that their employees can simply live.

    This isn't wealth redistribution, it's wealth redistribution redistribution. That is, this is taking the wealth STOLEN from the paychecks of employees due to below-living wages and putting it back in those paychecks relieving EVERYONE ELSE from the necessity of doing for the needy what the greedy - the ultra-wealthy - won't.

    Stop allowing the ultra-wealthy - and their syncophants - to portray forcing them to pay living wages as wealth redistribution. It's not. It's wealth redistribution redistribution. Get it right!

    1. ZeissIkon

      I agree, the tired old "trickle down" lie we all once so readily swallowed has become somewhat indigestible in recent years. You need only consider the £250 billion that disappears annually into the "Land Monopoly Black Hole" (just Google it), flooding straight into the pockets of less than 1% of the population, making any subsequent trickle down of wealth look like a piss against Niagra Falls. If you want to put it into further perspective, just go to the Office for National Statistics website and you can see what a significant misappropriation of wealth that is. Of course the tiresome invertebrates at Money Week make no mention of it, but that's to be expected with most economists sadly. And frustratingly enough there is a very straight forward answer to this rather nasty outbreak of corporate fascism we're suffering with and that would be the complete scrapping of the current tax system (income tax etc) and its replacement with a Commonwealth Consumption Charge levied on all appropriation of finite resources (Land itself being the biggie) by individuals and corporations. Once the commonwealth has been returned to the public coffers, then whatever is left over after the bills have been paid can be divided out equally as a Citizens Income, which would serve to replace the current benefits system. If everyone gets their equal share, then it's entirely up to you, and none of the government's business, if you want to increase your personal wealth by working one, two or three jobs even, or maybe you'd just prefer to live frugally and follow more aesthetic pursuits. Either way, it'd be up to you.

  29. georgesilver

    Total crap. Just one big advert to buy their rag. They never get around to telling you what to do.

  30. Shadowblur

    ....What was that, that Al Gore was saying about the frog in water that was slowly being heated up to boiling point and the frog arrogantly was unaware of.....

  31. Horst Manure

    Next will be Bank bail in were the bank take you money to help them as they have done overseas.

  32. anastasius

    Yikes...! A big hoopala about debt but no mention of who or what is doing the lending. High levels of debt are the symptoms but the actual disease is fractional reserve banking and its' corrollary, credit based money. The powers that be are cooking up a new scheme because the current system has gone as far as it can go. They will use the coming collapse get public support to reset the system. Instead of ending up swinging from lamp poles they will head the new monetary order.

    If you live in the UK you can buy coins from shops there called sovereigns. They contain almost a quarter troy ounce of gold and are free of all taxes. Buy small quantities and do so privately (cash banknotes). Make sure your purchases are below the cash reporting threshold. Don't buy too many though because we are going see incredible volitility in prices. Gold is such a powerful form of money that you won't need a huge amount to protect your wealth.

    Consider some old sterling money (pre 1922 I believe) or newer Brittania silver coins. Be discreet and safeguard your privacy. Don't bother with the subscription. Use the funds to add to your new position in specie.

    1. Mark Lech Jaworski


    2. Mark Lech Jaworski

      Get yourself a gun and a private army to defend that gold from neighbours

  33. Dovidw

    To those who make an unwarranted attempt to sidestep the discussion by focusing on a peripheral hypothesis concerning boosting Moneyweek"s circulation brings to mind a quote from Thomas Rainsford Loundsbury, a 17th. century American educator who said that "It never fails to surprise me at the infinite capacity of the human mind to refuse the introduction of useful information." Surely the most crucial question should be "Is the message that we are facing an inevitable and catastrophic collapse of Western society based on the narrative as presented, a credible one?" Based on my own extensive research, it's not only credible it's inevitable! And the only thing that would stop any well informed,logical, critical thinker acknowledging that truth is because of cognitive dissonance! And that, as they say, is another dicussion!

  34. ZarathustraSpeaks

    All the traditional print media are scrambling for ways to survive so I guess a little desperation by Money Week is expected also.

  35. desktop joe

    We can save your money, subscribe now!

    1. Johanna

      Hahaha, right. However informative it was at the beginning, all of a sudden it took a left turn trying to sell their publication. Lol.

  36. Shannon Elizabeth Staley

    Totally a sales pitch for their company/magazine....surprised to see that on this site. Having said that, most of it seems to be pretty true/accurate.....

  37. Brogan M

    Part fear-mongering, part infomercial. I'd think if you spent 13 years just predicting some sort of negative future, you're bound to look like you got something right. I'm not your reader so I can't say for sure, but this goes to all prudent economists that claim to be the Cassandras of "catastrophic" events, it's unfair to say that you knew what was going to happen.They're just coincidences, you could say that the bible knew what was going to happen in our world today; it predicted tsunamis, earthquakes and the like. But these things are bound to happen and when they do, they take the credit for supposedly knowing. This goes for economists making predictions on macro-economies; they could easily say that there's going to be disruptions, uncertainty etc when debt is involved and if anything negative does happen, they say "hey, I knew that was going to happen". I just think it's kind of a fallacy that's all.

    These guys probably don't know what's going to happen to us, all they're doing is trying to make you feel fearful about the future and buy their magazine so you know how to avoid what they're predicting. Sometimes I feel when I watch stuff like this they remind of modern day druids or shamans or something. They don't know if there's going to be dynamic reform to our economic systems, nor do they know what social advancements might come around the corner to change our way of living that in turn changes the techniques used to calculate value. As an additional note, those figures looked a little ambiguous, they also didn't explain properly where they came up with those figures. Don't let a programme like this ruin your day, although thinking about the dynamics of economics is always a good thing. New conclusions - I suppose is my logic behind why I think that's positive.

    1. 1concept1

      When one is in the loop - one does call outcomes ahead of time - short term anyway, (considering ones ducks are all in order and the input info is right on - not to dismiss aptitude)?

      I suppose if one takes a look at all the factors long term calls are also possible - I never stayed in one product or service long enough to make that assumption?

      When one is on the sales end of an "investment" 24/7 - a broader more in depth picture comes into focus.

      What I am saying does in no way mean what you are saying is not true?

      I'm just saying - that's all ;-)

    2. Brogan M

      As they so pointedly made out in their programme, at the cusp of the 2007 credit crunch - the Financial Times asserted that the financial markets were going leaps and bounds; when shortly after there was basically a collapse. You could say that the FT had a conflict of interest by saying that - with it now being part of a large media conglomerate, but what makes you think that MW doesn't? Also part of a much larger company by the way.

      So yes if you're getting daily feeds from the economic world - you're going to know more mannerisms of it. But that alone will not give you the ability to make accurate predictions how market situations will broadly affect us in other aspects. I would always take predictions people make with a pinch of salt - for the sake that I don't what sort of motivations that person has.

      Duly noted that what you're saying does in no way mean that I'm incorrect - and likewise to you. I try and make my convictions as thorough as possible and I understand that I should keep my feelings out of my convictions. But like I said in the first comment, the figures and assertions sometimes seemed a little ambiguous. For example, adding up the whole countries pension obligations, corporate debt, personal debt and government debt and comparing it to one years national annual revenue - making a very high looking/scary percentage.

      Consider that these guys might not have much understanding outside of the investments culture and may not understand the how other aspects of reality can change the way in which cultures handle themselves. Even on a purely investment driven understanding of the market - what makes you think that they get that right, feeds and all?

  38. Luke23

    Definitely makes some interesting points, but may well be perceived as a scaremongering advert for their own magazine...also i anticipated them mentioning how money is created with debt already attached to it, but it never came. It also doesn't explain who the British government owes this money to - international banks...

    1. Steve Bjuvgard

      You should remember that the Bank of England is a private concern the same as the Federal reserve in the US. They give money against treasury bills and the money they lend comes with a debt value, so that if all the money is paid back you would still have the interest to pay.....bit like trying to pay of a credit card bill by paying the minimum payment, it's just not possible.

      The American revolution was primarily caused because the "colonials" at the time introduced the greenback and the king of England did not want them to be debt free.

      Debt is a form of modern day slavery, there are just no laws against it.

      If you could wipe out debt worldwide the planet would be free for the first time in modern history. The problem is that a lot of people would insist on getting back into debt again.....they want what the guy next door or the country next door has.

  39. Jim Moore

    All very well if it is not compared to the GDP and its growth and then measuring it by its proportion to wealth