My commentary on US National Debt...

twp

Admin, DuckDuckGo No Longer Recommended
Staff member
"Ouch, Ouch, Ouch".

This is being ignored by MSM unless it gives them a talking point against Trump.

As a Prepper, I cannot ignore this pending Tsunami aimed at the US/World economy. Individuals have no protection within the monetary system. The ONLY hope, IMO, is to have tangible goods in your stockpile. Those include Precious Metals, Weapons, Foods, Solar/Wind Power systems and lastly, Real Estate. I put Real Estate last because I expect ownership to be attacked by government bodies intent on seizing control over their tax base. Don't pay your property taxes and you risk losing your property.

My worry is that, as the economy crashes (I expect it to happen), there will be increasingly stronger opposition to government attempts to extract money. It will be a power/control scenario. Remember the Zimbabwe currency hyper inflation.

Thoughts?
 

Dogman

Active Member
Rumor has it that America has a 300 + trillion dollar debt...I see a major default heading our way...
 

Atlas

Administrator
Staff member
I would think that too, except I have thought that for 20 years now. This makes me wonder if it is ever really going to happen?
 
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twp

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How long can the banks keep pumping fiat/digital money into the US system? Zimbabwe...

Spin, Spin, Spin, Can't Stop The Dance.
 

Atlas

Administrator
Staff member
I think they'll pump until they convert it to cryptocurrency then they will start all over again.
 
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twp

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If the government controls the Crypto "vaults" then they can play with numbers at their leisure... A bankers paradise... Screw the citizens...

If we are mandated to use digital currency (we are close to this), I predict a spike in underground currency/black market transactions. Barter will surge also.

I also suspect that we would then be Very close to a second revolution. That event could be expected to crash the internet -> crash the digital currency system. A no-win situation for everyone. Bring out the guillotines...

Got Gold? Got Silver?
 

WolfBrother

Member
You know opinions are like lower posterior sphincters. Most everyone has one and at one time or another they stink.

That said, my opinion:
With the proliferation of debit cards and their use "ding nigh" everywhere AND the fact that they are backed by fiat currency, in some very large ways, we're there.
 

Atlas

Administrator
Staff member
You know opinions are like lower posterior sphincters. Most everyone has one and at one time or another they stink.

That said, my opinion:
With the proliferation of debit cards and their use "ding nigh" everywhere AND the fact that they are backed by fiat currency, in some very large ways, we're there.
I agree.
 
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