AMERICA IS BROKE: Escape This FATE!
The U.S. used to be the largest creditor nation in the world, at one time. Other countries would ask the Federal Government for a loan, but some 35 years ago, this changed altogether.
Today, it is the largest debtor nation. The federal debt is over $21.5T and counting. The largest budget expenses are Medicare, Social Security, defense, income security, interest payments, and federal pensions.
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The largest economy in the world, then, is in a state of insolvency.
There are some obligations, which Washington had promised to its citizens over the past decades, which will be next to impossible to fund, going forward.
Here’s how I look at this – up until now, foreign governments were willing to foot-up the bill, buy Treasury debt, and allow the U.S. to run huge deficits, because, on the other hand, the U.S. consumer has been the world’s biggest spender, buying goods from all over the world and helping to grow the economies of many nations, across the globe.
However, things are changing. Soon, the Chinese middle-class, as well as that of India, will surpass North America’s appetite for goods and services, creating a situation that playing along, in this giant sovereign debt game, will not be as advantageous to other countries, so that the U.S. will have to pay higher interest rates to bondholders, or conduct some austerity measures, instead. Alternatively, the government or central bank will be forced to monetize the debt burden, by printing currency, which will bring inflation into the picture.
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No matter what way you think about it, there are issues that Washington will have to atone to.
As long as the U.S. was the only game in town, the rest of the world was forced, basically, to kneel-down and take it, but the rise of China is changing the planet’s power structure.
Make it a point, in the next 12 months, to go and check out China for yourself.
Many of the most important trends will emerge, based on what this Asian empire decides to do.
I’m scheduled to head there myself.
In the end, you’d be best served to remember we live in a giant USD bubble, but when you’re inside of a bubble, you don’t know you’re part of it, which makes it really dangerous.
As we’ve seen, these types of bubbles can last for decades, so you can’t spend an entire lifetime hidden in the corner, dreading it popping. Instead, having a Plan B procedure and a parachute is critical.
You know, as well as I do, that in Argentina, Zimbabwe, Turkey, Venezuela, Ukraine, Nigeria, Egypt, Libya, Belarus, Mexico, and other nations, which have had upwards of 6% inflation in 2017, the forces of erosion to their purchasing power, can only be contained, by opting-out of the fiat monetary system.
Have a Plan B in place. Don’t wait, until it is too late.
Here are some good contingencies to contemplate:
- Physical Gold and Physical Silver: Accepted everywhere you go, these precious metals retain a relatively stable purchasing power during inflationary nightmares and tend to rise in value, as well.
They’re outside of the system, difficult to confiscate, and can be carried quite discretely.
- Offshore Real Estate: One of the best ways to hold wealth outside your native country is to own property elsewhere.
Governments hardly make the effort of seizing assets that are owned outside their jurisdiction.
- A 2nd Passport: Having the option of being welcomed in another nation is far better than being deemed as a refugee or an illegal alien in one.
Many countries welcome applicants, who prove that they have either money in the bank or formal education to add value to the economy.
- Cryptocurrencies: Nothing is easier to move around than digital crypto.
- Friends: This is critical for you if you need to start over.
- Physical Cash, denominated in commodities Countries Notes: Australia, Canada, and Russia are all highly dependent on commodities, which tend to be great in times of crisis.
Having 2-3 months’ worth of cash, in large notes, is always a good idea.
You’d have much less to worry over, when these ideas are ready in your back pocket.
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This work is based on SEC filings, current events, interviews, corporate press releases and what we’ve learned as financial journalists. It may contain errors and you shouldn’t make any investment decision based solely on what you read here. It’s your money and your responsibility. The information herein is not intended to be personal legal or investment advice and may not be appropriate or applicable for all readers. If personal advice is needed, the services of a qualified legal, investment or tax professional should be sought.