The Future of America

December 29, 2009

Here’s a look at reality. Don’t be fooled about how well the recovery is going. Every action the FED takes has consequences that will come back at some point.

The Dallas FED estimated the financial obligations of the US government at 99 trillion dollars. The head of the TARP program estimated the bailout cost at 24 trillion dollars. Totaled together the US has in the neighborhood of 120 trillion dollars of current and future obligations on an annual revenue of around 2 trillion dollars which is falling due to high unemployment, higher state and local taxes and fees and lower wages.

Cutting that down to size, imagine earning 200,000 a year and having a debt of 12 million dollars. In short, the US dollar has become a token of an unpayable debt and thus the anchor of the entire global financial system is a ponzi fraud.

It becomes impossible to compute the value of anything as measured in a fraudulent currency that represents an unpayable debt.

…. From 321 Gold