These are clear warnings signs that a rational person simply cannot ignore.
Bottom line, Nations are going bust. And the worse things get, the more desperate their tactics become. This isn't the first time that the world has been in this position. This time is not different. History shows that there are serious, serious consequences to running unsustainably high debts and deficits. And those consequences have almost invariably involved pillaging people's wealth, savings, livelihoods and liberties... either directly or indirectly.
What's happening right now is playing out in textbook fashion. More taxes, more debt, more printing, more confiscation, less freedom. I’m not talking about the end of the world here, I’m talking about difficult times ahead, and the things that go beyond economics. It’s time to face facts and look at how society will change (and has already changed).
Many people will resist the change and instead cling desperately to the old system - the cycle of debt and consumption that provided jobs, stability, and prosperity. These people will have their lives turned upside down because that system is gone forever. And in case it still weren't obvious, here is three minutes of clarity from Ron Paul and Jim Rogers..."I would expect that there is going to be a lot more chaos still to come." - Ron Paul; “They won’t take our bank accounts…they will take our retirement accounts.” - Jim Rogers
Via Simon Black of Sovereign Man blog [10],
The world is truly an enormous place... and, despite the dearth of good news and positive trends out there, I still see a lot of amazing opportunities in my travels.
But it's really important to remain grounded about the challenges that face us. As I pen this letter to you, in fact,
- The NSA's Utah data center, which will intercept every phone call, email, and tweet sent across the Internet, is nearing completion.
- The Marketplace Fairness Act, which will create additional sales taxes on US-based Internet transactions, is set to pass the Senate next week.
- The government of Cyprus just passed the final bail-in measures, officially authorizing the direct confiscation of people's savings in that country's banking system.
- The Bank of Japan recently announced its intentions to double down on their already unprecedented money printing operations.
- Not to be outdone, the US Federal Reserve just announced that they will maintain their Quantitative Easing program, which dilutes the existing money supply by more than $1 trillion annually.
- At $16.83 trillion, the US federal debt is at a record high and set to breach $17 trillion early this summer.
- President Obama recently proposed to cap the tax deferral benefit on Individual Retirement Accounts in the Land of the Free
These are clear warnings signs that a rational person simply cannot ignore.
Bottom line, nations are going bust. And the worse things get, the more desperate their tactics become.
This isn't the first time that the world has been in this position. This time is not different.
History shows that there are serious, serious consequences to running unsustainably high debts and deficits. And those consequences have almost invariably involved pillaging people's wealth, savings, livelihoods and liberties... either directly or indirectly.
What's happening right now is playing out in textbook fashion. More taxes, more debt, more printing, more confiscation, less freedom.
I’m not talking about the end of the world here, I’m talking about difficult times ahead, and the things that go beyond economics. It’s time to face facts and look at how society will change (and has already changed).
Many people will resist the change and instead cling desperately to the old system– the cycle of debt and consumption that provided jobs, stability, and prosperity. These people will have their lives turned upside down because that system is gone forever.
And in case it still weren't obvious, I'd like to present Ron Paul and Jim Rogers, speaking together at our event in Chile a few weeks ago, with their own views on the situation.
“They won’t take our bank accounts…they will take our retirement accounts.” - Jim Rogers
"We are going to have a calamity in economics and political crises as economies worldwide are a lot weaker than they tell us." - Ron Paul
"I would expect that there is going to be a lot more chaos still to come." - Ron Paul
"There are so many distortions because we disobeyed economic law - no matter what Bernanke tell's you." - Ron Paul
"Bernanke's whole intellectual career has been dedicated to the study of printing money." - Jim Rogers
"I don't doubt [the confiscation] at all; and they will use force and they'll use intimidation." - Ron Paul
Three minutes of clarity...