When written in Chinese, the word crisis is composed of two characters. One represents danger, and the other represents opportunity. Are you one of the many people who is in a boat heading for a waterfall? Don’t panic. Let’s look at some facts instead of mere speculation, and then consider a solution to this crisis. A lifeboat.
An article in Canada’s National Post today states, ‘We’re not prepared’: Health care shockers threaten your retirement. Peter Schiff announces that in 2014, a record number of Americans renounced their United States citizenship for the second year in a row due to the high American income tax rates. At 39%, the United States of America has a higher corporate tax rate than ‘Communist China’ at 25%. And people are paying more and more to renounce that once prized citizenship. February vehicle sales in the US “unexpectedly” fell to 16.2 million, their lowest monthly level since April.
According to The Economist, the magazine that coined the term, a bail-in occurs when the borrower’s creditors are forced to bear some of the burden by having a portion of their debt written off. For example, bondholders in Cyprus banks and depositors with more than 100,000 euros in their accounts were forced to write-off a portion of their holdings. Steal it from the Producers. Atlas Shrugged in the real world. Countries that are facing the very real danger of Bail-ins are the United States, Greece, Portugal, Spain, Italy, France, Ireland, the UK, and Japan. Are your savings even safe? Safer banks are Switzerland, Canada, Germany, Singapore, Australia, Norway, the Netherlands, and Hong Kong. And if hyperinflation hits. you could lose 90% of your money.
A Gallup Poll has found that “A mere 17% of Americans say the US is No. 1 economically,” yet most of them are doing nothing about it.
Here are just five of the reasons why the US dollar will fail:
1. It is being used to perpetuate war and the welfare state.
2. It isn’t backed by gold, silver, or any other finite resource. When competition in the form of precious metals (gold and silver) present themselves on a major scale, the dollar, which has lost 98% of its purchasing value since 1013, will have no chance of survival.
3. The dollar can be counterfeited.
4.The dollar creates perverse incentives (easy credit) that discourage financial responsibility.
5. The dollar is controlled by a small minority of individuals, making those individuals the most powerful people in the world, opening the opportunity for moral hazard, and allowing them the potential to harm millions of people by continuing to make the mistakes they are already making.
Finally, watch Mike Maloney’s video: “The War On Success: Here’s Why America Is Doomed.” And if you think Big Brother Obama and his cohorts aren’t aware of what’s coming, just take a look at how hard they’re working at setting up spying mechanisms and militarizing the police force to deal with the riots that are coming. There is a reason why they want your guns and why they are working hard at destroying the family unit. These riots won’t be the usual burning and looting that occur every time a black American feels hard done by; we’re talking nation-wide and even world wide panic.
Now, while the doom and gloom is apparent to anyone who has pulled his head out of his Bag Mac long enough to take a breath, the situation we face, which could explode into a financial fiasco at any moment that dwarfs 2008, is a to sided coin. The other side of the coin is the Opportunity. Mike Maloney and many others predict that this will be the greatest transfer of wealth the world has ever known, as the dollar finally collapses and gold takes over.
Robin Elliott LeverageAdvantage.com