Posted on 01/23/2010 8:02:57 AM PST by blam
America's Impending Master Class Dictatorship
Politics / US Politics
Jan 22, 2010 - 02:39 PM
By: Stewart Dougherty
FOREWORD: At certain times, focusing on the big picture is important not just for investment success, but for personal welfare, and even survival. We believe such times are here. It is estimated that 98% of Americans have never held a gold coin in their hands. Yet 100% of Americans regularly handle Federal Reserve Notes. From a contrarian standpoint, the financial message from those two statistics is clear. Even so, gold is much more than money or an investment medium; it stands for liberty and throughout history has facilitated escape and ensured freedom.
Never having touched a gold coin is the monetary equivalent to never having breathed fresh air, felt the warmth of sunshine, looked up at the stars or risen from the gutter. Fiat Federal Reserve Notes are becoming nothing more than sewage decomposing in the vast, toxic septic tank of predatory Washington politics, epic Federal Reserve arrogance and error, blatant Wall Street fraud and outright Master Class plunder. Below, we outline America’s troubling and compounding predicament, and urge you to think about how to protect yourself from its consequences, both financially and personally.
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Thanks to the endless barrage of feel-good propaganda that daily assaults the American mind, best epitomized a few months ago by the “green shoots,” everything’s-coming-up-roses propaganda touted by Federal Reserve Chairman Bernanke, the citizens have no idea how disastrous the country’s fiscal, monetary and economic problems truly are. Nor do they perceive the rapidly increasing risk of a totalitarian nightmare descending upon the American Republic.
One stark and sobering way to frame the crisis is this: if the United States government were to nationalize (in other words, steal) every penny of private wealth accumulated by America’s citizens since the nation’s founding 235 years ago, the government would remain totally bankrupt.
According to the Federal Reserve’s most recent report on wealth, America’s private net worth was $53.4 trillion as of September, 2009. But at the same time, America’s debt and unfunded liabilities totaled at least $120,000,000,000,000.00 ($120 trillion), or 225% of the citizens’ net worth. Even if the government expropriated every dollar of private wealth in the nation, it would still have a deficit of $66,600,000,000,000.00 ($66.6 trillion), equal to $214,286.00 for every man, woman and child in America and roughly 500% of GDP. If the government does not directly seize the nation’s private wealth, then it will require $389,610 from each and every citizen to balance the country’s books. State, county and municipal debts and deficits are additional, already elephantine in many states (e.g., California, Illinois, New Jersey and New York) and growing at an alarming rate nationwide. In addition to the federal government, dozens of states are already bankrupt and sinking deeper into the morass every day.
[snip]
progressives do want to be the ruling class.
Sounds like the fed-gov could use a good dose of Dave Ramsey.
They will be breaking big rocks into little rocks or fertilizing the ground.
prepare your death star......
I have been.
Well! That’s the most depressing and disheartening article I’ll read this weekend, I hope.
Unfunded liabilities, as they are referred to, can by wiped out by an act of Congress. They're not real debt (although they probably will become so).
For example, the unfunded liability of Medicare, which is in the tens of trillions of dollars, will disappear if the Medicare program is eliminated by Congress. That's unlikely to happen, but still true. I would substitute the phrase "unfunded liability", which is a liberal buzz phrase, with the phrase "potential liability". That's a bit less sensationalist.
However, I don't doubt that our nation is nearing bankruptcy and the collapse of the dollar, since the chances of electing politicians who will do away with these programs are between slim and none.
Is buying gold coins the best investment?
I don't know but, I've been buying old US silver coins.
That is highly open to question. The last time around, Roosevelt confiscated all the gold. Perhaps if Americans are educated enough to remember this, they will stock up on staples and ammunition as well.
They are beyond help. They will try to use a standing army to retain power (tyrants always attempt to do so). Such actions will be colored in constitutionality, but everyone will see the man behind the curtain.
Is that supposed to cheer me up?????
You seem to know quite a bit about this (not being sarc). Regarding this $120T in “unfunded liabilities”, how do these relate to the debt we have sold to other countries? In other words, does Russia or China etc own any of that $120T?
It isn’t gold and silver which keep our would-be dictators from enslavement of the American people or confiscation of our wealth. It is, rather, the fact that some 150-200 million Americans are armed. Several hundred million weapons in the hands of the people of the United States make it just a WEEE bit difficult for Obama to announce the imposition of the “New People’s Republic” of Husseinland. And this is why the Bloombergs of the nation have been working for so many decades to overturn the 2nd amendment.
Oops! I forgot. You're the Survival Mom.
Good Luck.
A few months ago a Freeper, don’t remember who, commented, “You can prepare for a hurricane, but you can’t prepare for communism.” That was a chilling statement because it’s so true, and we’re headed in that direction, whatever form it ultimately takes.
Man, I’ve gotta go smell some roses or something this morning. There’s some pretty depressing stuff on the web.
The author suggests buying gold. But...If the government descends into totalitarianism how will anyone be able to sell it or exchange it?
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