It did not take long, but the Treasury has started the thieving. Since we have not raised the debt ceiling yet, the Treasury has started to dip into pensions. They will buy a couple of days by not meeting its investment into government retirement funds. This is just tipping the toe in the water of the trillions that we will see before this is all over. The debt ceiling will be raised, some BS spending cuts will be announced, and the Fed will continue to print more money/debt. There will be no grand reform and everything is going to plan as the world gets ready for the largest wealth transfer in human history.
To the millions of government employees that have been riding the gravy train are going to meet a very rude awakening when the dollar collapses. This group of citizens will have their paradigm shattered when the wealth that they thought they had is wiped away. They will also be out of a job, and realize that they are ill prepared to join the real economy. During the collapse of the Soviet Union those that worked in the system were the last to adapt to the new paradigm, often failing to adapt at all. Those that see this mathematically inevitable collapse coming and actually do something about it, will have a huge head start as the rest of the world tries to figure out what the hell happened.
I wrote “Got a 401k or an IRA?” about what happens when governments get desperate. Unlike us when we reach the end of our credit line, the government will not stop its profligate ways. It will simply blow through every dollar it can get its hand on trying to put off the day of reckoning. I believe that before all of this is over and the dollar dies, your retirement funds will be wiped clean. If you have a 401k, IRA, Roth IRA, Social Security, annuity or any long term savings plan or pension, be prepared to have it destroyed.
My question to you is what are you going to do about it? The alarm has been sounded. The Treasury is Coming! The Treasury is Coming! Are you going to risk your life’s savings on the hope that this ponzi scheme will pay out before the collapse? Will you wait until the REAL purchasing power of those dollars are worth nothing? Or will you get out while the music is still playing?
I remember Alan Greenspan was once questioned before Congress about if the US could pay on its $140 trillion dollar unfunded liabilities. Bernanke said that we could absolutely pay that, but he had an important caveat to that that should have gotten much more attention. He went on to clarify that he could not guarantee the purchasing power of those dollars. You are faced with a default of the currency, a government raid of your savings, a forced redistribution into “safe” government bonds, or a hyperinflation of the purchasing power of you savings. There is NO WAY OUT if you stay in any paper assets. Read the Silver Bullet and the Silver Shield to give you a head start on this paradigm shift. If you want a more complete picture join the free Sons of Liberty Academy.
“It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change.”- Charles Darwin