I make mention of the USDebtclock.org in many of my articles. I have had people say to me- “isn’t that a guy who puts that out”? The answer is yes BUT the actual numbers are from sources such as the Federal Reserve, the Treasury Department, the BLS and others. These are THEIR numbers. To check this out you can just hover over the information that you are looking at and, on the top, it will give you the agency that the information is being provided by.
For example, the National debt and spending is provided by the US Treasury Department.
Total debt and interest paid is reported by the Federal Reserve. This makes sense since they conjure up the “money” out of nowhere and charge US the interest on it- as they buy assets with it. They OWN assets for virtually nothing and WE pay interest for their purchases. This should upset ANYONE with a functioning brain.
The population is reported by the US census bureau and the workforce is reported by the Bureau of Labor Statistics. My point here is that these are credible sources.
Another thing the Federal Reserve reports on is how many US dollars there are in relation to gold, silver and other things like oil. I have been watching this all year. At the beginning of 2020 there was a little over $23,000.00 for each ounce of gold. Today, there is over $34,000.00 for each ounce of gold. I believe this means that almost 1/3 of all US dollars EVER produced were produced in the last 12 months.
There is another feature on this site that allows us to look backwards to see what previous numbers were and to look at future projections. As I hit the 2024 button the Fed projects that there will be $83,345.00 for each ounce of gold and almost $11,000.00 for each ounce of silver. Of course, as I believe we are now in the exponential debt phase, these numbers are likely Far too low.
This is one MAJOR reason for the beatdowns on gold and silver. Those “in charge” have to keep the illusion alive that not only the US dollar but, indeed, all major currencies are holding value. They do this by comparing fiat currencies to each other as they all fall at different rates and manipulate the fiat currency price of gold and silver lower to disguise what is actually happening to our purchasing power.
This is getting harder and harder to disguise because anyone who has been shopping lately is seeing prices rising faster than they have in recent memory. I believe that we haven’t seen anything yet. As the “printing” goes into hyper-drive to stave off economic collapse it is likely that trillions become tens of trillions and hundreds of trillions leading to a meltdown of most currencies with the US dollar leading the way.
I believe that anyone who takes a step back and realizes what is happening here is likely going to have an affinity for REAL assets going forward. When will it be that people will start demanding real value for their labor and not some blip on a screen that some person in a back room can conjure up a few trillion currency units in a few minutes? When will the masses finally realize that we have been robbed of our country by a few at the top who manipulate markets and connive with one another to profit at all of our expense?
When will society demand that those who have defrauded us be brought to justice? When will billion dollar fines be replaced with jail terms for those who have done major damage to many individuals and industries for their own personal gain?
I’m not holding my breath, but it will likely happen one day because, as Gerald Celente says “When people lose it all- they lose it!” I believe that day is rapidly approaching as our economy is in freefall and many are in dire economic straits.
In the latest 900 billion- dollar bailout package the non-eviction plans have been extended to January 31st. More than likely, they would have to make this permanent to stave off a catastrophe for millions of families across the country. In the meantime, as people are allowed by law to stay in homes and not pay rent or mortgage, how do the landlords pay the rent, taxes and upkeep of the properties?
Actually, large firms are issuing debt and staying afloat. Smaller landlords may get systematically destroyed as they can’t access the debt markets and their bills keep on coming even if the income is greatly reduced or, in some cases, stopped all together.
Another sobering projection is that the US will be spending over $10 trillion in 2024 and over $5 trillion will be the budget deficit for that year. In my opinion, those numbers are FAR too low. Using generally accepted accounting principles (GAAP) the US budget deficit was over $6 trillion in 2019. I haven’t seen an accurate guess for this year, but it is likely near $10 trillion already.
These numbers are obscene but most people are blissfully unaware that our national wealth is being squandered right before our eyes and the increase in the numbers is, I believe, entering a phase that will take almost everyone by surprise.
There will be another word to learn – Quadrillion. This is 1000 trillions. It is estimated that the banks have $2 quadrillion in derivative bets already. Since this is an unregulated market nobody knows for sure what the actual numbers are. (Marc Faber and many others)
As I have said to those who say “That can’t happen here” when I bring up Venezuela, Zimbabwe, Weimar Germany, Argentina, Brazil, etc. ECONOMIC LAWS apply here as well as everywhere else. Each and every time a nation has gone down the path we are on it has led to a catastrophe in human suffering and the annihilation of the currency being debased. What it ultimately comes down to is that there is indeed NEVER something for nothing even though for a time it may appear to be so. The piper will ALWAYS be paid.
One thing that many have seen when we have met is my Venezuelan Bolivars. It tells a sad tale of the last 10 years there.
First, I have a 2 Dos Bolivares note. 10 years ago that bought a cup of coffee in Venezuela.
Second, I have a 100 Bolivares note. 5 years ago that bought a cup of coffee in Venezuela.
Today, you would need over 30,000 100 Bolivar notes to buy a cup of coffee (This was true about a year ago, so it is likely actually a lot more right now. This is what happens when you conjure up “money” out of nowhere, hand it out and don’t produce much. Sound familiar?
I also carry around a one-ounce SILVER coin. Those who saw what was happening and stacked some coins have been richly rewarded as that 1- ounce silver coin feeds a family of 4 in Venezuela for a MONTH. An ounce of gold would likely feed the same family for a year- assuming there are goods available to purchase. Many cross the border into Colombia for supplies.
This is a stark example of what happens when a currency dies. I believe that we are seeing the destruction of the US dollar happening right before our eyes.
I believe time is short so …
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