Friday, July 1, 2011
"Washington will simply take and throw your wealth and promised benefits at the problem thus buying them more time with your wealth..."
by Ron Holland
...Although you may have some time, nothing else has to happen before a big collapse could take place, even within days. Consequently, after 30 years of watching, writing and creating protective retirement planning and financial strategies, today I'm finally going to yell "FIRE" inside the closed 'financial iron curtain" which is America.
If you have failed to store your precious metals outside the US, diversify out of the dollar or reduce or terminate your private retirement plan, there is now a clear danger of a Washington dollar and sovereign debt crisis which could sweep away most of your remaining wealth and financial security.
I do not have a crystal ball or inside political information on a specific imminent threat, only the observation that the sovereign debt crisis from Europe, a debt ceiling misstep from the clowns in Washington or a Middle East event could suddenly trigger the collapse. Actually any major political or economic shock could bring the Madoff style Ponzi scheme, which Greenspan and Bernanke have created, down almost overnight on top of us.
This will likely happen over a weekend and the following Monday morning you could wake up to Presidential Executive Orders "means testing" you out of Social Security benefits if you still have substantial retirement benefits or personal savings. You'll likely discover an end to your home interest deductions, new confiscatory taxes and restrictions on US gold and silver, controls on moving private wealth and funds to safety offshore and dramatic hikes in taxes and cuts in government programs. In addition, spiking inflation rates, violence and massive protests will immediately follow these confiscatory actions and cutbacks. You can also expect severe banking and stock market liquidity restrictions, or closures, and this will only be the beginning. In short your wealth will be trapped in dollars and locked up for the duration of the emergency inside the American jurisdiction.
Therefore if you haven't already prepared for this type of crisis contingency ahead of time, I'm telling you there will be little you can do after the fact. Washington will simply take and throw your wealth and promised benefits at the problem thus buying them more time with your wealth...