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  • People fear the "Zombie" ships are a sign of global colapse

    The Baltic Dry Index has been used as a sign of the health of the global economy ever since it has been calculated.

    Right now, the Baltic Dry index is at it's lowest since it was started in 1985.

    People fear that this is sign that the global economy will collapse.

    There are many ships that can not pay the loan that was borrowed to build them. The banks are afraid to foreclose because that will cause them to inform others of their loss as they have many of these loans out. So many ships are operating on very low fees to be able to pay the interest on the loan so the bank will not foreclose. This creates a big problem for ships operating and paying their loans because they can not compete with these low rates.


    http://www.businessinsider.com/people-afraid-zombie-ships-first-sign-of-global-economic-collapse-2016-1



    People are afraid these 'zombie ships' are the first sign of global economic collapse

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    Mario Tama/Getty Images
    An abandoned cargo ship in the polluted Guanabara Bay on July 3 ahead of the Rio 2016 Olympic Games.
    The shipping industry is facing its worst crisis in living memory as years of rapid expansion fueled by cheap debt have coincided with an economic slowdown in China.
    "We are now at the stage where people are struggling to remember an era when it was this difficult, we've gone through what it was like in the '90s, the '80s and the '70s, so expressions like 'living memory' start to apply," said Jeremy Penn, the chief executive of the Baltic Exchange in London.
    The Baltic Exchange has set shipping rates for more than 2 1/2 centuries, and the situation its members now face is grim.
    "Ship owners are facing the tough decision of whether to just drop anchor and hope it gets better," Penn added.


    Fears about the global economy have seen the Baltic Dry Index fall by more than 20% this year, to 369 — its lowest level since records began in 1985. The Baltic Dry, which is compiled by the exchange, gives an indicator of the cost of shipping dry bulk goods such as coal, iron ore, grains, and finished goods such as steel, but it is feted for its apparent ability to predict the world's financial fortunes.
    The immediate problem has been the slowing of the Chinese economy; the world's largest consumer of commodities has been the driving force behind the shipping trade for the past two decades.


    But much of the pain is also self-inflicted. Shipping has undergone a period of massive growth, fueled by cheap debt and steady demand.
    Shipping fleet rapidly expands

    The world fleet doubled in size from 2010 to 2013. At the same time, China doubled its shipyard capacity and took huge orders for new ships as it sought to control the commodities trade.


    "The dry cargo market was used to growth approaching 10% for quite a few years on the trot," said James Kidwell, chief executive of the London-listed broker Braemar Shipping. "All of a sudden you've hit a market that's gone flat. That is a radical change.
    "If you've got more ships than there are cargos, then freight rates are going to be weak — it's that simple."
    The impact on ship owners' profits has been drastic. The average charter rate for the largest Capesize vessel — named that because they are too large for the Panama canal and have to round Cape Horn — has fallen to about $2,700 a day. By contrast, they had traded within the range of $15,000 to $25,000 during the past two years and briefly touched $250,000 during the mania of 2008, according to Penn.
    Many trips are now loss-making as the cost of running a Capesize vessel, which at up to 340 meters is equivalent of almost four football fields in length, can run to $7,500 dollars a day.
    Drowning in debt

    In a normal market the rational decision would be to remove loss-making ships from the fleet, but this is anything but a normal market. The world shipping fleet is drowning in debt.
    Kidwell describes how ship owners who have financed their fleets with 60% debt and 40% equity have seen that equity become worthless.
    Meanwhile, the banks that provided the debt won't pull the plug, as they would be forced to recognize the losses. Instead, they accept that they won't have debt service, and they are forced to wait and see whether the ship owner can survive until the market recovers. At some point they might be able to sell the vessel at a better price.
    REUTERS/Svitzer/Handout
    The 47,230-tonne Liberian-flagged Rena listing, about 22 kilometers from Tauranga, on the east coast of New Zealand's North Island, on October 15, 2011, more than a week after it struck the Astrolabe Reef.

    Zombie ships set sail

    "What is damaging shipping is a zombie fleet, which accepts freight at maverick prices just to keep going," Kidwell said.
    A zombie ship is one that can just about repay interest on its debts but has no hope of repaying the capital.
    The situation might be about to get a lot worse for loans to the shipping industry. The calculation of loan repayments and the rate of interest depend on the historic residual value of the ship at the end of the life of the loan.
    Kidwell said a five-year-old Capesize vessel was sold for $19 million in recent weeks, 40% below the normal listing price for a vessel that age of about $33 million, and less than half the $48 million cost of a new ship. The scrap value of ships has also plummeted as China pumps new steel onto world markets.
    The collapse in prices for secondhand vessels will blow a hole in the balance sheet of any bank or individual that is sitting on those loans.
    The UK may no longer be a huge player in the ownership of fleets, but British banks such as RBS have total loan exposures of 8.3 billion, and Lloyds bank also provides finance to the industry. London is still the center of the world for ship broking through companies such as the FTSE 250-listed Clarkson and the smaller Braemar Shipping.
    London also retains is position as one of the world centers for marine insurance, with Lloyd's of London writing 2.1 billion in gross written premiums in 2014.
    It is not all bad news for the brokers, however. The glut of oil on world markets has led to one of the busiest tanker markets for years. The prospect of Iran entering the fray with 41 additional tankers could bring further lucrative commissions after the US lifted its 40-year oil embargo this month.
    But the outlook remains bleak for the owners.


    At some stage, ship owners will be forced to take their ships out of the market. This will be a slow process, Penn warns.
    In the old days you could lay up ships fairly easily, and dramatically reduce costs, but these days with all the modern technology and electronics on board it is much more difficult, Penn said. We haven't seen that cold lay up that we have seen in past recessions, he added.
    "Ship owners and people who are still in the market presumably still think there is hope, and that the market turnaround will come before they are completely desperate," Penn said.
    "But there is widespread depression in the market at the moment."




  • #2
    This is a concern. But I'm not sure they want a collapse. If they do want one it will result in the death of billions and the loss of the carefully crafted web of legal lies the US usurpers and UN conspirators have woven to build their financial power base. I think they want to keep and widen their power base to ensnare the whole world in it. They still have a trick up their sleeve.

    I've been studying the trust frauds perpetrated upon the sovereign US: multiple, multi-generation frauds implemented under bankruptcy reorgs. The bankruptcies are engineered just for this purpose, to set up a new trust and obfuscate the fraud. If you wonder how the federal government became our jackbooted master, this is exactly how it accomplished it. And they are robbing us blind and not many, it seems, have a clue they are doing it let alone how they do it. People only know that they sense something very wrong and nefarious. If anyone wonders why we're facing a market collapse, it is because of these trust frauds.

    This probably comes as a shock, and sounds so alien it defies belief. Did you know that the United States of America's assets were entered into a Trust when it was declared a nation? And in a Breach of Trust the original Trustee corporation went bankrupt in 1863? And the Trust was transferred to another Trustee, and that Trustee bankrupted in 1934? If not, you're not alone. Hundreds of millions of Americans don't know. The perpetrators of the fraud put the nation and its people's estates up for surety against those bankruptcies, which is highly illegal, and they hid this from us, and used and continue to use trickery to gain our consent to be bound by their corporate contract law so they can keep pilfering our wealth. The pilfering entails more vehicles for fraud than just income taxes.

    Snaring. Binding. Jailing. Lying. Deception. Theft. Coercion. Surely murder. I know who that sounds like. Only he is crafty enough to devise such an elaborately evil scheme, and fool the whole world with it. There is evidence that suggests another bankruptcy and new level of trust fraud is right around the corner.

    P.S. - I don't want to cause undue despair. There are also people at work to dissolve this corporate web of fraud, and break the chains of servitude. But the effort needs more people, more workers, more expertise, broader grass roots awareness, and fewer heroes. I would be pleased if everyone took note of this and endeavored to learn about it themselves. Trusting in heroes is what got us here. We have allowed others to represent our interests for so long we've forgotten what it's like to be a sovereign people, and these representatives betrayed our trust as a matter of course for 150 years. A helpful and needful approach would be to study Common Law and various movements in play to restore it county by county. May the Lord grant us space for repentance, and bless this nation once again.
    Last edited by Baruch; January 20, 2016, 11:21 PM.

    Comment


    • #3
      Thanks for posting this Barry. I barely am able to comprehend the fraud and or how it was perpetrated. The people defrauding us are very smart people. I could never figure out how to do something like that. I have to wonder why people that are that smart would put it to evil use instead of good.
      I'm not sure about the whole of the fraud but I see some of it. And like you said the people know something is wrong but they don't know what. Blessings. .... Steve

      Comment


      • #4
        Occasionally over the past few years I've tried to get a handle on it, Steve, and failed. Then I found out about a Common Law judge, Anna von Reitz, who has brought it down to my level. One can get as deep into it as one wants. It is very, very deep. But understanding the 10,000 foot view is essential to getting started and doing something about it. I've heard it said that we are not as smart as the founding fathers of the United States of America. It is true. But they were just men who studied and worked hard to be free of tyranny. Why can't we do that?

        Judge Anna is a Common Law judge in Alaska. Her web site is www.annavonreitz.com. There is no other way to learn about this than to roll up your sleeves. This web site has the most approachable writings I've found about the mess we're in.

        Here is a video with a very brief intro. https://www.youtube.com/watch?v=aLq4RLlIT7s

        Here is a longer discussion: https://www.youtube.com/watch?v=sG1DWNw64fY

        As with all the writings of man, we must take care when reading: prove all things, hold fast to that which is good. Possibly more so with those who write about earthly justice and philosophy. The devil loves legalism and has been very adept and active to bind us up in his courts. But it is fraud, and all claims based on fraud are vitiated. The system has no power to stand under scrutiny, truth, and the light of reason.

        Common Law, which still operates lawfully in this land, is a parachute. I am convinced it is a gift from God, which protects freedom of will and puts responsibility where it belongs, squarely upon the shoulders of each individual. So even if you can't figure out how to start a Common Law government in your county, you can at least know enough to talk intelligently about it and support it in your area if someone begins to pave the way.
        Last edited by Baruch; January 21, 2016, 10:02 AM.

        Comment


        • #5
          Originally posted by Baruch View Post
          This is a concern. But I'm not sure they want a collapse. If they do want one it will result in the death of billions and the loss of the carefully crafted web of legal lies the US usurpers and UN conspirators have woven to build their financial power base. I think they want to keep and widen their power base to ensnare the whole world in it. They still have a trick up their sleeve.

          I've been studying the trust frauds perpetrated upon the sovereign US: multiple, multi-generation frauds implemented under bankruptcy reorgs. The bankruptcies are engineered just for this purpose, to set up a new trust and obfuscate the fraud. If you wonder how the federal government became our jackbooted master, this is exactly how it accomplished it. And they are robbing us blind and not many, it seems, have a clue they are doing it let alone how they do it. People only know that they sense something very wrong and nefarious. If anyone wonders why we're facing a market collapse, it is because of these trust frauds.

          This probably comes as a shock, and sounds so alien it defies belief. Did you know that the United States of America's assets were entered into a Trust when it was declared a nation? And in a Breach of Trust the original Trustee corporation went bankrupt in 1863? And the Trust was transferred to another Trustee, and that Trustee bankrupted in 1934? If not, you're not alone. Hundreds of millions of Americans don't know. The perpetrators of the fraud put the nation and its people's estates up for surety against those bankruptcies, which is highly illegal, and they hid this from us, and used and continue to use trickery to gain our consent to be bound by their corporate contract law so they can keep pilfering our wealth. The pilfering entails more vehicles for fraud than just income taxes.

          Snaring. Binding. Jailing. Lying. Deception. Theft. Coercion. Surely murder. I know who that sounds like. Only he is crafty enough to devise such an elaborately evil scheme, and fool the whole world with it. There is evidence that suggests another bankruptcy and new level of trust fraud is right around the corner.

          P.S. - I don't want to cause undue despair. There are also people at work to dissolve this corporate web of fraud, and break the chains of servitude. But the effort needs more people, more workers, more expertise, broader grass roots awareness, and fewer heroes. I would be pleased if everyone took note of this and endeavored to learn about it themselves. Trusting in heroes is what got us here. We have allowed others to represent our interests for so long we've forgotten what it's like to be a sovereign people, and these representatives betrayed our trust as a matter of course for 150 years. A helpful and needful approach would be to study Common Law and various movements in play to restore it county by county. May the Lord grant us space for repentance, and bless this nation once again.

          Yes, Woodrow Wilson sold us down the river in 1913. He signed the Federal Reserve into law. But it is NOT FEDERAL and it is not a Reserve for the US, but a Reserve for these PRIVATE and FOREIGN bankers. Washington refused to allow it and so did Andrew Jackson and Lincoln. They tried to kill Jackson to get someone in that would sign, but both pistols failed to fire. Jackson beat the man into submission with his cane. After it was over they tried to fire both pistols again and both of them fired. Also may be why Lincoln was shot. Although these men financed a racist to do the job to protect themselves.

          I would say that The Lord Jesus was looking over Jackson.

          After he had signed, Wilson became aware that he had sold the people down the river and wrote so in his writings.

          The Fed is not a government bank, but it is private bankers and their identity is kept secret from us. The Federal Reserve Chairman in just a puppet that they put forth for PR. The potus has to "approve" this person. But pity the potus that refuses to do so.

          This may well be why JFK was killed.

          Rand Paul is the only candidate for POTUS that runs on a platform to audit the Federal Reserve. That is why he is so ignored and made out to be a crazy person by the media and both parties.

          Paul wants to get our money back in our hands but the people are to stupid and ignorant to support him.

          The Fed prints money and then LENDS it to us at interest. If someone can not see how crooked that is, I can not help them. Of course the money they print should be the property of the US instead of the Fed. We should lend it to them at interest.

          The wealth that these men have stolen is NOT in the billions but hundreds of trillions. Bill Gates is a poor man compared to these men.
          Last edited by Lou Newton; January 21, 2016, 10:17 AM.

          Comment


          • #6
            Lou, I apologize for stealing your topic. I agree the economy is a huge concern. It is THE topic in some circles. I just realized recently that the (fake, fraudulent, corporate, debt & usury) economy can only be "salvaged" by converting it into another monster of its own kind. We cannot afford to do that. It will spread corporate tyranny worldwide. Our only sane option is to walk away from it, start from zero if necessary, and build upon an honest foundation which does not allow crooks and murderers to get away with "limited liability" as incorporation does.

            Fortunately, our options do not force the destruction of government and our investments such as social security. It depends on how willing the so-called "federal government" is to give up its power and resume just governance.

            Comment


            • #7
              Originally posted by Lou Newton View Post


              Yes, Woodrow Wilson sold us down the river in 1913. He signed the Federal Reserve into law. But it is NOT FEDERAL and it is not a Reserve for the US, but a Reserve for these PRIVATE and FOREIGN bankers. Washington refused to allow it and so did Andrew Jackson and Lincoln. They tried to kill Jackson to get someone in that would sign, but both pistols failed to fire. Jackson beat the man into submission with his cane. After it was over they tried to fire both pistols again and both of them fired. Also may be why Lincoln was shot. Although these men financed a racist to do the job to protect themselves.

              I would say that The Lord Jesus was looking over Jackson.

              After he had signed, Wilson became aware that he had sold the people down the river and wrote so in his writings.

              The Fed is not a government bank, but it is private bankers and their identity is kept secret from us. The Federal Reserve Chairman in just a puppet that they put forth for PR. The potus has to "approve" this person. But pity the potus that refuses to do so.

              This may well be why JFK was killed.

              Rand Paul is the only candidate for POTUS that runs on a platform to audit the Federal Reserve. That is why he is so ignored and made out to be a crazy person by the media and both parties.

              Paul wants to get our money back in our hands but the people are to stupid and ignorant to support him.

              The Fed prints money and then LENDS it to us at interest. If someone can not see how crooked that is, I can not help them. Of course the money they print should be the property of the US instead of the Fed. We should lend it to them at interest.

              The wealth that these men have stolen is NOT in the billions but hundreds of trillions. Bill Gates is a poor man compared to these men.
              Good post, Lou. Very true. I didn't know that about Jackson, how awesome.

              Also, the "money" the Fed prints is not currency. They are Notes, "Federal Reserve Notes". A note is an IOU. They print IOU's that will never be paid, and cannot be redeemed for real value. You cannot pay a debt with IOUs. Would you want me to buy a car from you and hand you a stack of IOUs on debts that someone else (whom neither of us knows!) is responsible for paying? Absolutely not. I am just foisting this debt on you and so on it snowballs.

              But we are given no choice of alternate currency. This is part of the clever scam. So where is our real wealth? If I understand correctly it is siphoned off-book to accounts in the IMF. We are not allowed to know about this. If we were it would have been disclosed. Non-disclosure is a serious crime in contract law.

              Comment


              • #8
                Originally posted by Baruch View Post
                Lou, I apologize for stealing your topic. I agree the economy is a huge concern. It is THE topic in some circles. I just realized recently that the (fake, fraudulent, corporate, debt & usury) economy can only be "salvaged" by converting it into another monster of its own kind. We cannot afford to do that. It will spread corporate tyranny worldwide. Our only sane option is to walk away from it, start from zero if necessary, and build upon an honest foundation which does not allow crooks and murderers to get away with "limited liability" as incorporation does.

                Fortunately, our options do not force the destruction of government and our investments such as social security. It depends on how willing the so-called "federal government" is to give up its power and resume just governance.

                The only way for the people to get back in control of their government is to elect men that support the AUDIT of the Federal Reserve Bank. Even if they do, the men they elect will be in great danger.

                This is why the names of the men in the Federal Reserve has to be made public. Then they may be able to hold them accountable for their actions.

                Comment

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