I want to ask you two important questions. Do you own a home safe filled with cash, silver & gold? If not, what are you waiting for? As an American, most of us cannot really imagine making the same statement as the title, however if the warnings of many experts comes to pass, this statement may become an everyday reality. Every day we see more and more examples of economic distress both on a national and global scale. While to most of us, these events seem to be very distant and have nothing to do with us personally; unfortunately this cannot be further from the truth. |
We live in a global economy, and what happens to one country affect us all. All you need to do is watch the news and you can see for yourself that both the United States and World Governments are in serious financial trouble. The latest the news is reporting that the European Union is looking to bail out the small country of Cyprus, using funding obtained by “Taxing” the savings accounts of individuals. Another story as of 31 March 2013, any account in an Australian bank that has not had owner activity in three years can now be legally confiscated by the Australian government.
Closer to home, the US government has been “Examining” the way Americans are using the $19.4 Trillion they hold in retirement savings. Under the guise of protecting the elderly from scams, the US government is considering ways they can “manage” these assets. Note: The national Debt is over 14 Trillion. Imagine if you would how neatly it would work out for the United States Government if they could “Borrow” that 14 Trillion from a US Government Managed fund, and then be in debt to a US Agency instead of foreign powers. Since this US Agency would be funded by managing retirement accounts, funds can be paid out over time at a controlled rate, and controlled interest rate. Let us not even consider what would happen to funds of folks who passed away before all of their “entitlements” are paid out. Just food for thought.
As scary as this sounds, this actually NOT the worst thing that can happen.
Since 1944 the United States has held the most favored world economic position of having the United States dollar being the World Reserve Currency. This placed the United States as a nation and American Business at a strategic economic advantage. An advantage that our government has failed to leverage in an advantageous manner for the United States and in fact has placed the economy of the entire globe in jeopardy. History has shown that in time of crisis, everyone starts to look out for themselves, this certainly includes foreign governments. Indications make it clear that the world governments consider one of the most advantageous actions they can do to protect themselves economically is to drop the US Dollar as the World Reserve Currency. The process has already started and this event seems enviable. But what does that mean should it come to pass for American Citizens?
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