Global Wealth Continues to Shift, 25% of the Western World is Broke [6]

Written by Nathan McDonald - (CLICK FOR ORIGINAL) [6]

Consumer debt culture has completely and utterly taken over the West. Sure, there are still those that value working hard for something and actually earning the right to own what they desire, sadly this has been proven not to be the majority.

Eastern cultures, on the other hand, still has a strong affinity for saving. They value honest money such as precious metals, and at their root they know that if you want something, you need to work for it.

This shift in culture has not been overnight, but regardless, it is here and it is here to stay until this whole fiat system comes crashing down on our heads.

The easy credit that led to the economic crisis of 2008, has clearly returned. The signs for "no credit, no problem" have once again become a staple at many retail locations and people continue to spend more than they make.

[6]

This is no secret. Yet, Western politicians and our financial elite seem completely undisturbed by the rot that exist at our society's core.

We have known that the situation is bad for over a decade, but do we truly know how bad it really is? Credit Suisse released [7] its Global Wealth Report last week and the numbers are shocking to say the least.

The main point of the report was to show how One Percenters now own a whopping 50% of the world's wealth! This is quite unsettling and shows how out of whack the global economy has become under a fiat-based system.

Although this is an interesting fact, in my opinion, it was not the most important point taken from the article. What is even more shocking, as Simon Black of the Sovereignman [8] reports, is the fact that there is now MORE poor people in the United States and Europe, than there are in China.

The reason for this being, as the report indicates, is that many Westerners are living with horrible debt, making their net worth negative, something that is not prevalent in much of the Eastern world.

Credit Suisse goes on to point out that it is estimated that at least 25% of Americans are living with negative debt and made the following shocking statement;

“If you’ve no debts and have $10 in your pocket, you have more wealth than 25% of Americans. More than 25% of Americans have collectively that is.”

We have slipped away from our values and have fallen into the horrible trend of "keeping up with the Jones’". For these people, preaching the virtues of precious metals and sound money will mean little. For most, it is simply too late.

The system is terminal, the elite know there is no turning back now, we have driven over the cliff and it is now only a matter of time before the system implodes. The question for them remains, how much can they get out of it before its all too late?

Please email with any questions about this article or precious metals HERE [9]

Global Wealth Continues to Shift, 25% of the Western World is Broke [6]

Written by Nathan McDonald - (CLICK FOR ORIGINAL) [6]