Trader/analyst Gregory Mannarino warns that bills for storm damage and bankrupt states are piling up. U.S. territory Puerto Rico was destroyed by a hurricane and is bankrupt. States like Illinois, Pennsylvania and Ohio are also having debt problems. Mannarino contends, “This is how they are going to kill the currency. The Fed is going to be forced to print more cash out of thin air and loan them money, whatever it’s going to be, and then the currency dissolves. We’ve seen this before. . . . At some point, we are going to face an absolute and complete meltdown of the system. The debt based economic model is fraudulent. It’s a Ponzi scheme. The federal government is going to be asked to do something, and that will kill the currency, and we are going to get hyperinflation. That’s when the cash is going to start to move.”
In closing, Mannarino says, “The central banks are going to take everything. You will be a serf at some particular time, serving your masters like you do already. I think we are going to be experiencing a new middle age–period.”
Follow me @lengle2811
Steem On!
Reposted from USAWatchdog YOUTUBE CHANNEL
Your post is very effective and powerful, Thanks for sharing
Upvoted !
By the way ,I started following you and I would appreciate your follow back too .
please visit my blog and Upvote me too.
Thanks for posting this @lengle2811! The Debt Problem is Real and very, very Serious. This guy nails it!
More reasons to exchange paper money for silver and gold - and - now crypto currency too.
US Debt in 2017 > $20 Trillion [ doubled in 9 years from ]
US Debt in 2008 > $10 Trillion
check out this live US Debt Clock and much more > http://usdebtclock.org/
Agreed. The debt is a serious issue, not only that of the US, but also that of most other countries. I'm writing a series of posts (under the name Chaos Monitaur) on the excessive debt and other worrisome aspects of the current global economic situation.
The debt keeps growing, and keeps doubling, regardless of who's "leading" the country. It's kinda interesting when a new candidate / leader comes along, complains and rails about the unbelievably excessive debt built up by his predecessor ... and then proceeds to do the exact same thing, increasing the debt to even more stratospheric levels. Interesting, and funny .... and scary.
Why do Bankers and Politicians fear free market exchange and free market valuation of gold and silver and now the creation of crypto currencies? Answer, they lose control.
We are watching history repeat itself - only this time, for the first time, on a truly global scale.
The debt ship Titanic hit the iceberg back in 2007 - 2008 and thanks to incredible, never before seen, bailout attempts it is still afloat - even though every year the ship keeps taking on more and more debt and sinking lower and lower below the waterline .
The ending will truly be "A Night to Remember". That the ship will sink is inevitable. There is no rescue ship big enough to unload all the debt "as is" and bring the world's monetary system safely back to port.
The only solution left to the Central Bankers and the Politicians is to print more money and devalue the fiat currencies. Historically, it is the only endgame, the only tool left to them.
Just looking at your posts now @majes.tytyty - awesome content. I'll definitely be following and reading your articles with interest.
Do you see any possible "good" resolution to this problem? Any suggestions on what the average person can do to be prepared for the probable outcome?
Hi Waterton.
Thanks for the appreciation. I try to spend a bit of time on my content, making sure it's well researched and then easy to read and understand. These are important issues, and more people should know about them.
I do not see much "good" coming from the problems -- except that the old corrupt crony capitalism will reach its nadir and come to an end. Of course, there will be much "bad" that comes along with it.
As for preparing for whatever happens, the only way I know of is to stay away from debt and fiat currencies, and stick with real money such as gold and silver and, increasingly, cryptocurrencies. Everything else -- stocks, bonds, real estate, etc -- is in a massive Everything Bubble, and the value of those items will plunge in the near future. We cannot say WHEN it will happen, but it's inevitable.
Hope you prepare well and survive. Cheers.
hi @majes.tytyty, it shows that you are putting time into your content. it's well researched and well thought out .
are you following @mariannewest? you may want to follow her if you are not already. I think you'd like her comments too.
here's a recent thread with her comments > https://steemit.com/life/@mariannewest/re-watertoncafe-anyone-know-a-good-book-about-how-to-get-out-of-debt-and-build-wealth-20170926t144027870z
Thanks for the compliment, and the links. Yes, I just woke up and read a reply from Marianne. Checked out her site, and saw that it also is replete with fine content. Followed by and following her.
:)