The Government is Intentionally Attacking Your Wealth and Financial Independence!
Ask anybody about how much Washington owes and they’re likely to say the national debt is somewhere around $12.8 trillion. As shocking as that massive number is, however, it is just a fantasy — a tiny fraction of the gargantuan amount our government really owes.
In actual fact, our real national debt is nearly TEN TIMES GREATER! In addition to that official $12.8 trillion national debt, Washington has written $108 trillion in off-budget, unfunded IOUs on Social Security, Medicare, Medicaid, its prescription drug program, its veterans benefits programs and its Federal pension programs that must also be paid. That adds up to more than $120 trillion and that’s not even counting the $1 trillion the new health care bill will cost us or the trillions in NEW deficits projected over the next 10 years! The truth of the matter is that, altogether, our leaders have obligated us … our children … and our children’s children … to pay off an utterly unpayable $127.8 trillion in debt.
What is the Government Doing to Resolve the Situation?
Our government has begun intentionally debasing our own currency by:
1. Flooding the World with Unbacked Paper Dollars
Money is subject to the laws of supply and demand just like any commodity. If you want to lower the price, simply increase the supply. Just do that and the buying power of the greenback will plunge. Your bank statement may still say you still have $25,000 but in truth, when you go to spend that money, it only buys as much as $18,000, or $15,000, or $12,000 used to because the value of your money has been stolen from you.
Just in the last two months alone, the Fed has agreed to create $1.25 trillion out of thin air to buy mortgage-backed securities including another $300 billion to buy U.S. Treasuries alone. The liabilities on the Fed’s balance sheet have roughly DOUBLED — from $1.2 trillion a year ago to more than $2 trillion today – and the actions announced by the Fed in March are most likely to expand that to well over $3 trillion over the next year!
From September 10, 2008 to March 10 of this year, Bernanke has increased the nation’s monetary base from $850 billion to $2.1 trillion. That’s an irresponsible, irrational and insane increase of 2.5 times in just 18 months...
Be Advised: You Are the Intended Victim!
With each and every revaluation, YOUR dollar is worth LESS and make no mistake about it: This is nothing more and nothing less than highway robbery and YOU are the intended victim!
The greenback has already plunged as much as 33% in real, trade-weighted terms since its 2002 high. By that measure, every dollar in your wallet … in your savings account … in your brokerage account … and in your retirement account is worth only 67 cents. Indeed, since November 2008, the U.S. Dollar Index has dropped more than 10% and even shed almost 5% against our northern neighbor the Canadian dollar just since the beginning of 2010.
The handwriting is on the wall:
This great dollar disaster is only just beginning. Obama and Bernanke have no choice. Either they dramatically devalue the dollar over the next three years, or they go down in history as the first administration to default — to welch on the government’s debt obligations.
Link:
http://www.veteranstoday.com/2010/07/08/the-government-is-intentionally-attacking-your-wealth-and-financial-independence/
No comments:
Post a Comment