Where Will You Go When The Sovereign Debt Volcano Blows?

• Private bankster debts have been socialized and this is leading to a sovereign debt crisis. The amount of public debt which America carries is in the region of US$100T-200T when you include Social Security, Medicare, GSE debts, unfunded liabilities, off balance sheet items..etc. The debt to GDP ratio of most Eurozone nations exceed 100%, IMO, when you include all the off-balance sheet items and unfunded liabilities. Japan’s debt to GDP is over 200%! How will all these debts be repaid?
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• Major banks in America has something like US$40-$90T of worthless derivatives in their books each. BoA has about US$40T, so does CitiBank. JP Morgan carries something like US$70-90T of these financial weapons of mass destruction in their books. How exactly do you lose US$40T? Illuminist banksters will protect and save themselves: To hell with the people.
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• No one can afford to lose US$70-90T. The world GDP is only US$65T. So how will Illuminist banksters save themselves? What if a cup of coffee costs US$1T? Then, US$90T is only 90 cups of coffee. It is chump change, I can afford to lose this amount too. How do you get the price of coffee to US$1T? HYPERINFLATION! Get the idea? The snakes will create so much money out of thin air until fiat currencies are worthless! Got gold yet?
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  Where Will You Go When the Sovereign Debt Volcano Blows?
  by Ron Holland, http://www.thedailybell.com/
  “People never believe in volcanoes until the lava actually overtakes them.” – George Santayana
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  Today we find the United States and most of Europe in a similar situation. We risk an eruption and collapse of the mountain of unsustainable sovereign debt built up over the last two decades. Frankly, the US dollar and national debt situation is so dire and our means to contain a sovereign debt crisis so limited by multiple wars, Washington’s debt and political incompetence at home, that anything could happen – almost overnight. Even a minor foreign policy or economic event like a Greek default or Middle East crisis could reap havoc with the precarious interlocking sovereign debt pyramid in the West.
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  Of course, no nation wants a collapse – especially China – because a western debt collapse and write down is certainly uncharted financial waters and the contagion risks are global. Still, America and most European governments and the central banking elites, which created the criminal sovereign debt fiasco, are only trying to buy more time and delay the inevitable. This inaction means the threat of an immediate US debt and dollar collapse cannot be ruled out. Therefore, readers who have not protected themselves certainly have cause to worry because now could be too late.
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  It Is Exit Time For Your Gold, Wealth & Family
  Although you may have some time, nothing else has to happen before a big collapse could take place, even within days. Consequently, after 30 years of watching, writing and creating protective retirement planning and financial strategies, today I’m finally going to yell “FIRE” inside the closed ‘financial iron curtain” which is America.
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  If you have failed to store your precious metals outside the US, diversify out of the dollar or reduce or terminate your private retirement plan, there is now a clear danger of a Washington dollar and sovereign debt crisis which could sweep away most of your remaining wealth and financial security.
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  I do not have a crystal ball or inside political information on a specific imminent threat, only the observation that the sovereign debt crisis from Europe, a debt ceiling misstep from the clowns in Washington or a Middle East event could suddenly trigger the collapse. Actually any major political or economic shock could bring the Madoff style Ponzi scheme, which Greenspan and Bernanke have created, down almost overnight on top of us.
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  This will likely happen over a weekend and the following Monday morning you could wake up to Presidential Executive Orders “means testing” you out of Social Security benefits if you still have substantial retirement benefits or personal savings. You’ll likely discover an end to your home interest deductions, new confiscatory taxes and restrictions on US gold and silver, controls on moving private wealth and funds to safety offshore and dramatic hikes in taxes and cuts in government programs. In addition, spiking inflation rates, violence and massive protests will immediately follow these confiscatory actions and cutbacks. You can also expect severe banking and stock market liquidity restrictions, or closures, and this will only be the beginning. In short your wealth will be trapped in dollars and locked up for the duration of the emergency inside the American jurisdiction.
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  Therefore if you haven’t already prepared for this type of crisis contingency ahead of time, I’m telling you there will be little you can do after the fact. Washington will simply take and throw your wealth and promised benefits at the problem thus buying them more time with your wealth.
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  The Central Banks, City of London & Wall Street Have Looted America and the World
  Back in 2007, did the Federal Reserve or your politicians or financial experts predict a collapse in housing prices of 30 to 50 percent? Remember, Bernanke, Greorge W. Ben Bush and Barack Obama all promised this was a temporary blip in the long-term upward trend in housing values. All advised you to “stay the course.”
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  Today, Tim Geithner claims we have a “strong dollar policy” but have you observed the 35% plus appreciation in the currencies of Brazil and Switzerland to the dollar in the last year? The EU establishment has repeatedly claimed over the last few months that the Greek problems are solved but these fake solutions usually only last a few days at best.
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  Back here in the US, there is talk about deficit reduction, cutting programs and tax increases but nothing really happens because solving the problem is political suicide. The American and European elites are buying time knowing that only a crash or war will give them the opportunity to act as they did in the 2008 meltdown. They only wait for a cataclysmic event to provide the fear, excuse and public support for government action needed to grab our private wealth and to delay their problems.
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  The mainstream American press doesn’t cover it, however the rest of the world knows that Wall Street banks and their central banking buddies in London and New York created the sovereign debt crisis. They then sold their profitable template, or imposed it on the end of a gun, for debt democracy to politicians around the world as a means to buy votes and maintain political control. The scam is now over and no one has a solution to the tens of trillions in debt already spent.
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  While many millions of poor people overseas are going hungry because of our exported inflation on food costs, now the foreign middle classes are being impoverished just to pay interest on the sovereign debts to our banking elites. Although, much of the world correctly blames their thieving politicians who’ve been bought off by our banking elites as the problem, our nation is also a target for their outrage.
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  …. for the full article click here!

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