While I often write about the BRICS and many other threats to the US dollar dominance in the world, I just saw some information that I believe shows a clear threat that would destroy our currency even if there were no threats from anywhere else.
Just consider these few facts that were reported on Zerohedge:
· Income needed to afford a home has increased by 80% since 2020. That is astonishing. How many people have seen their incomes keep up with that? This is just for homes. Rents are also rising. Add in food, taxes, autos, insurance. You get the picture!
· While eyes are fixated on our $34.5 TRILLION debt and the over $1 TRILLION in interest price tag for 2024 another astonishing fact that the government released (but I haven’t seen it reported anywhere other than on Zerohedge) Social Security paid out $88.8 BILLION more in benefits in 2023 than taxes received. That is horrible BUT way worse is Medicare spent $446 BILLION more than the revenue received. This is ANOTHER $534 BILLION that had to be conjured up out of nowhere to cover that. What do you think may happen this year when more people are added to the programs and layoffs are accelerating. To me, this means less revenue and more expenses. My bet is that this could possibly rise to $750 BILLION in 2024. Don’t worry though- it’s off budget so it doesn’t really exist right? I guess they will just add that to the $213 TRILLION in unfunded liabilities that the USDEBTCLOCK.org shows.
· Every person in the USA is on the hook for $737,064.00 because of:
$34.5 TRILLION (Admitted) National Debt = $102, 562.00 PER CITIZEN
$213 TRILLION in UNFUNDED liabilities = $634,592.00 PER CITIZEN
Now, don’t worry that 26% of our population has NO ASSETS- we know that because they are on Medicaid. You can’t have assets and be on Medicaid. I’m sure we can collect it!
· In addition to these startling statistics, we are also sending billions (that we know of) overseas to cause mayhem around the globe to enrich our defense industry. I read an interesting article which shows why NATO is getting destroyed in Ukraine. The key point is that even with Russia spending about 1/10th of what we spend on “defense” budget they are producing 7 TIMES the entire output of NATO. The reason given? Russia and China have PURPOSE-driven defense and the West has a PROFIT-driven Defense. This is why with nowhere near the spending these countries have more and better weapons.
· WE are on a slippery slope. I was going to say towards insolvency but when you have to conjure up trillions to pretend that you are solvent we are already insolvent. It’s a matter of time before the SHTF.
A question that you should be asking is “What is the VALUE of a promise that cannot, or will not, be kept? MATH says we will find out the hard way.
Be Prepared!
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