The United States and most of Europe…risk an eruption and collapse of the mountain of unsustainable sovereign debt built up over the last two decades.
Frankly, the U.S. dollar and national debt situation is so dire – and our means to contain a sovereign debt crisis so limited by multiple wars and Washington’s debt and political incompetence at home – that anything could happen, almost overnight. [The best] America and most European governments and the central banking elites, which created the criminal sovereign debt fiasco, [appear able to do is] try to buy more time and delay the inevitable.
This inaction means the threat of an immediate US debt and dollar collapse cannot be ruled out. Therefore, readers who have not protected themselves certainly have cause to worry because now could be too late. [Let me explain further.] Words: 1689
So says Ron Holland (www.LewRockwell.com) in an article* which Lorimer Wilson, editor of www.munKNEE.com (It’s all about Money!), has further edited ([ ]), abridged (…) and reformatted below for the sake of clarity and brevity to ensure a fast and easy read. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement. Holland goes on to say:
It Is Exit Time For Your Gold, Wealth & Family!
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 U.S.,
- 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 on top of us almost overnight.
The collapse will likely happen over a weekend and the following Monday morning you could wake up to Presidential Executive Orders that:
- “means test” you out of Social Security benefits if you still have substantial retirement benefits or personal savings.
- end your home interest deductions,
- introduce new confiscatory taxes and restrictions on US gold and silver,
- establish controls on moving private wealth and funds to safety offshore,
- implement dramatic hikes in taxes and cuts in government programs,
- severely restrict banking and stock market liquidity and perhaps,
- result in bank closures
and that will only be the beginning. Spiking inflation rates, violence and massive protests will immediately follow these confiscatory actions and cutbacks. In short your wealth will be trapped in dollars and locked up for the duration of the emergency inside the American jurisdiction.
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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.
The Central Banks, City of London & Wall Street Have Looted America and the World
Here in the U.S. there is talk about deficit reduction, cutting programs and tax increases but nothing really happens because solving the problem is political suicide. The American and European elites are buying time knowing that only a stock market crash or war will give them the opportunity to act as they did in the 2008 meltdown. They only wait for a cataclysmic event to provide the fear, excuse and public support for government action needed to grab our private wealth and to delay their problems.[While] the mainstream American press doesn’t cover it, the rest of the world knows that Wall Street banks and their central banking buddies in London and New York created the sovereign debt crisis and then sold their profitable template, or imposed it on the end of a gun for debt democracy to politicians around the world, as a means to buy votes and maintain political control. The scam is now over and no one has a solution to the tens of trillions in debt already spent.
Many millions of poor people overseas are going hungry because of our exported inflation on food costs and now the foreign middle classes are being impoverished just to pay interest on the sovereign debts to our banking elites. Although, much of the world correctly blames their thieving politicians who’ve been bought off by our banking elites as the problem, our nation is also a target for their outrage. Foreign politicians will attempt to shift the blame to America and this will speed the end of our American free ride from the fiat dollar and our reserve currency status. The world is just waiting for the spark to start the run out of the dollar and our Treasury debt. No nation will really help us when the collapse comes.
What If You Have More Time?
Maybe we have months instead of weeks – or at most a couple of years before the event takes place. Allow our politicians “buying time” to work for your benefit instead of theirs. [Here are some ways to do just that:]
1. Educate Yourself With Free Subscriptions:
To protect yourself, you must assume the balance of establishment news coverage and opinion is all disinformation designed to delay panic and create actions which will benefit the establishment probably to the detriment of your best interests. Therefore I suggest you subscribe to the following free e-mail publications:
- Follow what the elites are planning ahead of time with The Daily Bell – Subscribe.
- Keep up with the real freedom news and philosophy by subscribing to LewRockwell.com – Subscribe.
- Get an Austrian economics view on the markets and gold with Mountain Vision – Subscribe.
- [Read munKNEE’s most informative economic/financial/investment articles on the internet – Subscribe.]
2. Maintain Liquidity & Reduce Political Risk:
Legally and following all reporting requirements, move your private wealth outside the U.S. into safe secure investments which will remain liquid and trading should US markets close as they did following 9/11.
3. Create A Domestic Safe-Haven Location:
The potential for violence, theft and property destruction in the U.S. dwarfs what could happen in Greece. If you can afford a safe-haven second home away from major cities and high crime locations, then do so. Consider taking advantage of the real estate collapse and buying something you can enjoy in good times and have as insurance for bad times.
4. You Will Likely Be Safer Outside the US:
Consider a more secure safe-haven jurisdiction where the rule of law might still prevail with a condo, second citizenship or residency in a nation outside the United States for the duration of the domestic disorder and economic collapse. Remember, currency and government debt collapse is common throughout the world and history shows the difficulties don’t last forever. My fear is we haven’t seen a world reserve currency collapse before, and the aftermath is uncharted waters. I would expect a scenario several magnitudes worse than the 1991 Russian collapse.
5. Secure Your Gold:
Finally move most of your gold or silver offshore where it will remain secure rather than become a tempting target for confiscation from parasitical groups and individuals. Washington will need your gold as I doubt there has been substantial gold at Fort Knox since Nixon closed the gold window. The eventual outcome of the crisis may well be some fake gold backing for the dollar. Why else would anyone use a collapsed currency?
6. Don’t Trust Washington With Your Retirement Benefits:
Consider closing your retirement plans and withdrawing your funds to avoid future new taxes and penalties at withdrawal, the means testing and loss of your Social Security benefits or the forced investment into collapsing Treasury obligations.
The debt crisis is here and I promise you only that you will not hear the truth on cable financial news or from your establishment investment firm or professional. To avoid a panic, neither the government, the Federal Reserve or Wall Street will be honest with you about the risks we face, just like they all lied and covered-up before the market meltdown in 2008.
If you are an American, the last place you should keep most of your wealth now is in the dollar or your home country. You might personally get out but your wealth will be trapped for the duration and probably lost during the disruption.
- U.S. Financial System – a Shell Game, a Confidence Trick, a Ponzi Scheme – Which Will Eventually Collapse! http://www.munknee.com/2011/07/u-s-financial-system-a-shell-game-a-confidence-trick-a-ponzi-scheme-which-will-eventually-collapse/
- Telling it Like It Is: Monetary Policy, the Federal Reserve, and the National Debt Problem http://www.munknee.com/2011/06/telling-it-like-it-is-monetary-policy-the-federal-reserve-and-the-national-debt-problem/
- Another Economic Collapse and Great Depression are Coming! Here’s Why http://www.munknee.com/2011/07/another-economic-collapse-and-great-depression-are-coming-heres-why/
- Get Ready to be Financially Conscripted – and Face a Lower Standard of Living! http://www.munknee.com/2011/07/get-ready-to-be-financially-conscripted-and-face-a-lower-standard-of-living/
- Americans: Here’s How to Protect Your Retirement Assets From Coming Gov’t “Confiscation” http://www.munknee.com/2011/03/americans-heres-how-to-protect-your-retirement-assets-from-coming-govt-confiscation-2/
- The U.S. is Headed Towards Self-inflicted Disaster: Here’s Why http://www.munknee.com/2011/04/the-u-s-is-headed-towards-self-inflicted-disaster-heres-why/
- IMF: Major Changes Required to Close U.S. Fiscal Imbalance – Here’s Why, What and How http://www.munknee.com/2011/04/imf-major-changes-required-to-close-u-s-fiscal-imbalance-heres-why-what-and-how/
- America: The Party is Over! Here’s Why http://www.munknee.com/2011/04/america-the-party-is-over-heres-why/
- America’s Political Process Guarantees Another Financial Crisis! http://www.munknee.com/2011/03/america%e2%80%99s-political-process-virtually-guarantees-financial-crisis-2-0/
- Weiss: A Financial Apocalypse Awaits America! http://www.munknee.com/2011/03/weiss-a-financial-apocalypse-awaits-america/
- Americans Have Thrown in the Towel as They Await “The Big Splatter” http://www.munknee.com/2011/02/americans-have-thrown-in-the-towel-as-they-await-the-big-splatter/
- Washington Faces Possible Armageddon Unlike Any Since Civil War http://www.munknee.com/2011/01/washington-faces-possible-armageddon-unlike-any-since-civil-war/
- Why Slashing Government Spending Now Would Result In A Depression http://www.munknee.com/2011/01/why-slashing-government-spending-now-would-result-in-a-depression/
- Remedies to Fiscal Gap Guarantee Hyperinflation! http://www.munknee.com/2010/11/remedies-to-fiscal-gap-guarantee-hyperinflation/
- Warning Signs Suggest U.S. Headed for a Complete Societal Collapse! http://www.munknee.com/2010/10/warning-signs-suggest-u-s-headed-for-a-complete-societal-collapse/
- Let’s Get Real: The U.S. is Bankrupt and the Consequences Will Be Dire! http://www.munknee.com/2010/09/lets-get-real-the-u-s-is-bankrupt-and-we-dont-even-know-it/
- U.S. Between a Rock and a Hard Place and Its Options Are – At Best – Dire! http://www.munknee.com/2010/09/u-s-between-a-rock-and-a-hard-place-and-its-options-are-at-best-dire/
- Nielson: America’s Debts are Staggering – It is Hopelessly Insolvent! http://www.munknee.com/2010/07/debt-denial-and-default-why-every-investor-needs-to-protect-their-wealth-with-precious-metals/
- The above article consists of reformatted edited excerpts from the original for the sake of brevity, clarity and to ensure a fast and easy read. The author’s views and conclusions are unaltered.
- Permission to reprint in whole or in part is gladly granted, provided full credit is given as per paragraph 2 above.