March 20th, 2013
Video via SGT Report
Gregory Mannarino explains the devastating impact of America’s debt based economic model – and what the final outcome of trillion dollar deficits will be.
If you want to understand the economic and monetary policies that brought us to this breaking point, watch every minute of the following video.
You don’t need a degree in rocket science to figure this out.
The debt will continue to be added until it explodes.
This debt has built an alternate reality. We’ve borrowed monies from the future to live a better now. This bill is coming due.
We see what’s going on in Cyprus, what’s going on in Europe.
When it comes here to roost in the United States, and we’ve already seen cracks in the debt bubble, it’s going to make all that look like a walk in the park.
The United States is going to be devastated.
The middle class is being systematically destroyed by the Federal Reserve, by the Obama administration.
Understand… this is not sustainable. This is not sustainable…
A pan global collapse is inevitable.
There’s no way out of it.
Whether it happens next week, next month, or next year, it is coming. And, governments are going to become more and more desperate. Like Cyprus, this is going to sweep the Eurozone.
And it is coming here to the United States – right to your front door.
We borrowed monies to live a better now… and it’s time to pay the piper.
When the fiat monetary scheme of the U.S. central bank collapses – and it will – commerce as we know it will come to a complete halt. Even in the event that, by some miracle, we avoid a total meltdown in the US dollar, never ending debt commitments and trillions in monetary easing will lead to massive price increases for essential goods like food, gas, and utilities. As noted by Greg Mannarino, we’ve already seen a 400% increase in gas prices since 1990, an effect experienced in other American staples like milk and eggs.
That inflation is destroying the purchasing power of Americans cannot be denied. What’s more, with the tripling of our debt in the last twenty years, the pace at which prices rise is accelerating.
This means, according to Mannarino, that the only protection you have against this exploding debt bomb is to own hard assets.
If you’re still in fiat currency and you refuse to believe that gold is going to continue to rise here, then you have got a serious denial problem.
You need to get out of fiat currency. You need to become your own central bank.
For those with excess fiat currency holdings, physical gold and silver are undoubtedly excellent investment vehicles to protect one’s wealth as the US dollar continues to degrade.
As more dollars – to the tune of trillions a year – are introduced into circulation, the only possible outcome is continued price increases for those items we utilize the most.
Thus, hard assets, for those who have neither the money or desire to invest in precious metals, can include anything from long-term supplemental and reserve food stores, to development of personal trade skills that will be in high demand in a post-collapse environment.
Hard assets – those things that become money when the system collapses – will be all that matter when global merchants and governments no longer accept the US dollar in trade.
Make sure you are prepared to deal with a world where life as you know it today no longer exists.