By crrobot.Sep 27, 2012 10:39 AM.PermalinkGo to topic
You don't see the big picture! We have 16+ Trillion of declared National Debt, and nearly the same amount of Public Debt 15.99 Trillion. Add to that Student loans pushing 1 Trillion and put in 145+ Trillion of Govt liabilities for Soc. Sec., Medicare, Drug Programs, etc, not including Obamacare yet. IT takes 33,000 years to manually count from 1 to 1 trillion, per the Christian Network. We only have 114+ Million taxpayers. Does not compute, we are standing in undeclared bankruptcy by the Govt and private sector spending frenzy.The dollar was worth $1. in the 1960's, it's now worth 7 cents. We now spend 2 to 3 times more at the grocery stores then 2 years ago. Fiat currencies are worthless. Only the metals will sustain you
Former Assistant Treasury Secretary Paul Craig Robert quotes Professor Larry Kotlicoff who states that our real national liabilities are $222 trillion & that does not include $600 trillion in derivatives owed by US banks alone. Roberts bluntly says the, 'US is bankrupt & that the only thing keeping us going is acceptance of the Petrodollar.' Max Keiser, Lindsey Williams & several others are stating that they see a dollar crunch coming in December while others like Celente think it is coming in March 2013. A trillion dollars worth of trade deals have already been recently announced between countries who state they will settle the accounts without using US petrodollars. IMO we have literally reached the limits of our financial, industrial, judicial and military systems & they are now crumbling. A recent article indicates that the Federal Reserve is now buying 75% of all US debt as no one else globally wants it. It should be obvious to all that not only do we have a fiat currency we have literally become a fiat country too-pursuing non sustainable economic and social policies. The only people who do not seem to 'get it' are die hard liberals, recipients of gov't aid & people under 50 years old who have grown up knowing only an era of fiat money with the false promises that are generated by its purveyors. PM prices are actively being suppressed by the PTB so that they can load up on the physical stuff while the sheeple indulge in their 'bread and circuses', as the PTB know what is coming....perhaps their will be a false flag Iranian thing that will act as the trigger....who knows? Those military pensions might turn out to be not secure after all which is but one reason I blog about USAGX, bullion etc..... Each person has to make their own choice & live with the consequences.