Yesterday April 18, 2011, the S&P downgraded its outlook on the US debt based economy to “negative.” That begs the question, “Gee, where have they been the past (at least) 2 years?” It would seem that the rating companies are either behind the times or somehow bought off so as not to tell the truth about the US debt. Either way, they have demonstrated that their ratings are not to be trusted.
Our central bank, The Federal Reserve, is monetizing at least 50% and perhaps at high as 70% of our debt. No one knows for sure but this signals bad things for the USD. If and when the US Dollar loses its status as the ‘world’s reserve currency.” What would this mean for people who think they can live off the dollars they saved for retirement? Our debt is unsustainable in my opinion and the day of reckoning will soon be upon us.
What will replace our system when it all comes crashing down? And it most certainly will since no debt based fiat currency has ever lasted forever!
It would be wise to consider this a warning about a pending storm and find the right kind of shelter for you and your family!
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