Global Debt Tsunami heading towards America.!!
The world is now 188 trillion dollars in debt, and that number continues to grow rapidly each year. It is a form of enslavement that is deeply insidious, because most of those living on the planet do not even understand how the system works, and even if they did most of them would have absolutely no hope of ever getting free from it. The borrower is the servant of the lender, and the global financial system is designed to funnel as much wealth to the top 0.1% as possible. Of course throughout human history there has always been slavery, and the primary motivation for having slaves is to extract an economic benefit from those that are enslaved. And even though most of us don’t like to think of ourselves as “slaves” today, the truth is that the global elite are extracting more wealth from all of us than ever before. So much of our labor is going to make them wealthy, and yet most people don’t even realize what is happening.
Let’s start with a very simple example to help illustrate this. When you go into credit card debt and you only make small payments each month, you can easily end up paying back more than double the amount of money that you originally borrowed. So where does all that money go? Well, of course it goes to the financial institution that you got your credit card from, and in turn that financial institution is owned by the global elite. In essence, you willingly became a debt slave when you chose to go into credit card debt, and the hard work that it took to earn enough money to pay back that debt with interest ended up enriching others. On a much larger scale, the same thing is happening to entire nations. Today, the United States government is nearly 23 trillion dollars in debt. In essence, we have been collectively enslaved, and we have been obligated to pay back all of that money with interest. Of course at this point it is literally impossible for us to ever pay back all that debt, and every year we add another trillion dollars or so to the balance.
The global elite are now extracting more than 500 billion dollars in interest from this debt on an annual basis, and it is expected that number will greatly escalate in the years ahead. It is not an accident that the Federal Reserve and the federal income tax were both instituted in 1913. The Federal Reserve system was designed to create an endless debt spiral that would get the federal government in as much debt as possible, and since that time the size of our national debt has gotten more than 7000 times larger. And the federal income tax was needed as the mechanism through which our wealth is transferred to the government to service all of this debt. It is truly a deeply, deeply insidious system, and the American people should refuse to back any politician that does not favor shutting it down, but at this point this isn’t even a major political issue in our nation. And of course the United States is far from alone.
Even though we can’t get the whole world to agree on much of anything, somehow virtually the entire planet has been convinced that debt-based central banking is the way to go. In fact, at this point 99.9 percent of the population of the world lives in a country that has a central bank. According to Wikipedia, there are only 9 very small nations that do not have a central bank at this point… -Andorra -Isle of Man -Monaco -Nauru -Kiribati -Tuvalu -Palau -Marshall Islands -Federated States of Micronesia If you combine the populations of all of those 9 nations together, it comes to much less than 0.1% of the total global population.
Do you think that this is just a coincidence? The global elite do not want humanity to be free. They want us to be in as much debt as possible so that we can make them richer. When you realize how badly the game has been rigged, then a lot of things start to make a whole lot more sense. For example, for those that understand how the system works it is certainly not surprising that the total amount of debt in the world has hit a new all-time record high of 188 trillion dollars…
The global debt load has surged to a new all-time record equivalent to more than double the world’s economic output, IMF chief Kristalina Georgieva warned Thursday. While private sector borrowing accounts for the vast majority of the total, the rise puts governments and individuals at risk if the economy slows, she said. “Global debt — both public and private — has reached an all-time high of $188 trillion. This amounts to about 230 percent of world output,” Georgieva said in a speech to open a two-day conference on debt. That number has risen by 24 trillion dollars since 2016, and it is the biggest debt bubble that the world has ever seen by a very wide margin. Of course at some point this debt bubble is going to burst in a global disaster of epic proportions, but meanwhile the global elite are going to continue to milk all of us for as long as they possibly can.
Here in the United States, we have been on the greatest debt binge in the history of our nation since the last financial crisis. U.S. government debt has more than doubled, state and local government debt has ballooned to ridiculous proportions in much of the nation, corporate debt has doubled, student loan debt has more than doubled, auto loan debt just keeps hitting new record highs, and U.S. consumers are now 14 trillion dollars in debt. Our mountain of debt has become so colossal that the only way to keep the game going is to borrow even more money, but by borrowing more money we make our enslavement even worse. Meanwhile, those that are holding our debt just continue to live the high life as they laugh all the way to the bank.
Six Reasons Why the Depression Could Reoccur
Stock market crashes can cause depressions by wiping out investors’ life savings. If people have borrowed money to invest, then they will be forced to sell all they have to pay back the loans. Derivatives make any crash even worse through this leveraging. Crashes also make it difficult for companies to raise the needed funds to grow. Finally, a stock market crash can destroy the confidence required to get the economy going again.
Lower housing prices and resultant foreclosures totaled at least $1 trillion in losses to banks, hedge funds, and other owners of subprime mortgages on the secondary market. Banks continue to hoard cash even though housing prices have increased. They are still digesting the losses from one million foreclosures.
Business credit is needed for businesses so they can continue to run on a daily basis. Without credit, small businesses can’t grow, stifling the 65 percent of all new jobs that they provide.
Bank near-failures frightened depositors into taking out their cash. Although the Federal Deposit Insurance Corporation insures these deposits, some became concerned that this agency would also run out of money. Commercial banks depend on consumer deposits to fund their day-to-day business, as well as make loans.
High oil prices could return once U.S. shale producers are forced out of business. Millions of jobs were lost when oil prices plummeted. At the same time, many consumers bought new cars and SUVs when gas prices were low. They will be pinched when prices rise again.
Deflation is an even bigger threat. Low oil and gas prices have had a deflationary impact, and so has a 25 percent increase in the U.S. dollar that depresses import prices. These deflationary pressures seem like a boon to consumers, but they make it difficult for businesses to raise wages. The result could be a downward spiral. That is similar to what happened during the Great Depression.
Six Reasons Why the Depression Won’t Reoccur
Stock price declines haven’t exceeded 11 percent in one day or 30 percent in a year. The kick-off to the Depression was the Stock Market Crash of 1929. By the stock market’s close on Black Tuesday, the Dow had fallen 25 percent in just four days.
Housing prices and foreclosures have recovered. Rental rates are relatively high, which has brought investors back to the housing market. Now that confidence has been restored, housing prices will continue to rise. The foreclosure pipeline, which once seemed endless, has disappeared.
Business credit has been affected the most. The world’s central banks have pumped in much of the liquidity needed. In effect, they have replaced the financial system itself.
Monetary policy is expansionary, unlike the contractionary monetary policies that caused the Great Depression. During the recession in the summer of 1929, the Fed decreased the money supply by 30 percent. It raised the fed funds rate to defend the value of the dollar. Without liquidity, banks collapsed, forcing people to remove all funds and stuff them under the mattress, causing economic collapse. The FDIC helps prevent bank runs by insuring deposits.
Economic output fell 4 percent from its high of $14.4 trillion in the 2nd quarter of 2008 to its low of $13.9 trillion a year later. It fell a whopping 25 percent during the Depression. It has recovered to $21.5 trillion.
There is a big difference between a recession and a depression. Even if another Great Recession does occur, it is unlikely to turn in a global depression.
How to Prepare for an Economic Collapse
Protecting yourself from a collapse is difficult. A catastrophic failure can happen without warning. In most crises, people survive through their knowledge, wits, and by helping each other.
Here are six steps you can take now to prepare for a potential collapse.
- Make sure you understand basic economic concepts so you can see warning signs of instability. One of the first signs is a stock market crash. If it’s bad enough, a market crash can cause a recession.
- Keep as many assets as liquid as possible so that you can withdraw them within a week.
- As for cash, it may not be useful in a total economic collapse because its value might be decimated. Stockpiles of gold bullion may not help because they would be difficult to transport if you needed to move quickly. In a severe collapse, they may not be accepted as currency. But it would be good to have a stash of $20 bills and gold coins, just in case. During many crisis situations, these are commonly accepted as bribes.
- In addition to your regular job, make sure you have skills that you’d need in a traditional economy, such as farming, cooking, or repair.
- Make sure your passport is current in case you’d need to leave the country on short notice. Research target countries now and travel there on vacation, so you are familiar with your destination.
- Keep yourself in top physical shape. Know basic survival skills, such as self-defense, foraging, hunting, and starting a fire. Practice now with camping trips. If you can, move near a wildlife preserve in a temperate climate. That way, if a collapse occurs, you can live off the land in a relatively unpopulated area.
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