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Goldman Sachs Warns Investors of Global Health and Economic Collapse in 6-8 Weeks

Goldman Sachs Warns Investors of Global Health and Economic Collapse in 6-8 Weeks 31

Travel bans. Canceled sporting events. Banned mass gatherings. Stock markets in free fall. Deserted shopping centers. Until a month ago, this seemed far-fetched. It was supposed that the  coronavirus outbreak would be a localized problem for China and that any indirect effect on the rest of the world could be comfortably controlled by governments in the rest of the world.

When it became clear that the COVID-19 was not limited to China and it would affect the rest of the world the concern began. A World Health Organization (WHO) reluctant to enact the pandemic, was forced to change its mind on March 11. And while countries limited themselves to saying that “The possibility of infection was very low”, the coronavirus was advancing without control and claiming hundreds of deaths in Europe. Now, the data speaks for itself: almost 300,000 infected and almost 13,000 deaths worldwide.

Something similar is been happening with the global economy. The central banks, the ministries of economy and independent economists have been telling us in an active or passive way that there would be a strong blow, but short to economic activity followed by a rapid recovery, now the situation is very different from what was originally forecast.

Curiously, what happened in 2007 is being repeated, when the economic crisis was initially supposed to affect only the United States. We are facing a world economy that is already in recession due to the wide impact of the pandemic on economic activity, despite the stimulus measures announced by dozens of central banks in Europe, America, Asia and Australia. However, the worst is yet to come.

Goldman Sachs warns

A publication in Reddit about Goldman Sachs has gone viral on social networks faster than the coronavirus. User ‘nottodaymonk’ posted on March 15 that a friend had just finished a Goldman Sachs Investee conference to which some 1,500 companies are connected. He listed several “conclusions” of the call, the most important of which was a prediction of “Global health and economic collapse” in 6 to 8 weeks.

“Over the next 6 to 8 weeks, we will see a global health and economic collapse”reveals the post. “50% of Americans will contract the virus (150 million people). 70% of Germans will contract the virus (58 million people). Of those affected, 80% will be in the initial state, 15% in the intermediate stage and 5% in the critical stage. The general mortality will be 2%. Europe and the United States do not appear to be well equipped to deal with the COVID-19 crisis. China’s economy will be affected by imports and exports. There may be a shortage of raw materials and the global supply chain will break for a period of time. The world GDP growth rate will be the lowest in 30 years with less than 2%. S&P 500 will see negative growth from -15% to -20%. The stock markets will only recover in the second half of the year. “

Goldman Sachs Warns Investors of Global Health and Economic Collapse in 6-8 Weeks 32

Fake News?

Patrick Scanlan, vice president of corporate communications for Goldman Sachs, wanted to make it clear that social media posts reporting COVID-19 statistics prepared by an unidentified author, were not authorized, and they contain incorrect information and erroneous attributions.

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“Comments circulating on social media platforms that attribute statistics on COVID-19 to Goldman Sachs were prepared by an unidentified author, were not authorized, and contain incorrect information and attribution”Scanlan said to Cointelegraph. “On March 12, the chief economist and the company’s medical director made an appeal to clients, during which they transmitted information on the economic and market impact of COVID-19. During the call, various statistics on the pandemic were cited and attributed to legitimate sources, including governments, and were not necessarily presented as a vision by Goldman Sachs. The economic and market points of view presented in the call were consistent with the currently published research points of view. ”

Interestingly Goldman Sachs did not explicitly deny the veracity of nottodaymonk’s claims. However, they questioned some of the statistics presented. The company emphasized that “The market and economic opinions” voiced during the conference were consistent with public reports. While references to the coronavirus make it clear that the notes are not verbatim, it is certainly possible that the numbers offered by nottodaymonk have been discussed at the conference, and a recent report from Imperial College London also predicts a bleak future for humanity, much worst than the Goldman Sachs report.

“Cash is king”

Investors and economists are really in shock with the effects of COVID-19 on the world economy. They consider it as one of the worst financial market declines in history, and have officially declared the death of stocks on the eve of a booming era for stocks.

“Cash is king” said Sergio Trigo Paz, manager of the BlackRock Strategic Fund – Emerging Markets Flexi Dynamic Bond, to Bloomberg.

“You had an environment where the first half of 2020 seemed noise-free, which was very positive for high-yield loans in emerging markets. But the coronavirus was a game changer. ”

Goldman Sachs Warns Investors of Global Health and Economic Collapse in 6-8 Weeks 33

But the most disturbing warning comes from Kashif Raza, CEO of India’s crypto news platform Crypto Kanoon. He ensures that governments will be forced to limit internet access or to restrict it entirely. This will have dramatic consequences for digital currencies such as Bitcoin, which already have historical ciads. And in a Tweet, Raza argues that things are going to get worse for investors. He is convinced that the panic that is already gripping the markets will continue. And the solution? Cash they can spend on essentials, above speculative assets such as stocks or Bitcoin.

How should we prepare for the impending economic apocalypse?

Some are already preparing for the imminent fall of our social or political order. From bunkers to gathering non-perishable food, there are many who believe that the real apocalypse has begun. And if the information from Goldman Sachs is true, which has not been completely denied, the best economists in the world agree that it is time to have cash since it seems that the banks are preparing to block the accounts of millions of savers.

Are you ready for the impending financial apocalypse?

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