NO government in history has ever survived any ‘sovereign debt crises. Can governments do wonder to permanently hide or suppress the looming debt crisis and never let it happen.
I have studied history (for the purpose of confirming my concern about the current state of debt based economy) and it tells me that every great empire in the past in the end fell on its own sword – debts. It happened to Rome in the 1st-4th century, UK in the 19th century etc. History tends to repeat because human behaviour never changes.
Read the following famous quotes and you know what I mean.
“There are 2 ways to conquer and enslave a nation. On is by the sword. The other is by debt”. - John Adam
“I sincerely believe that banking institutions are more dangerous to our liberties than standing armies. The issuing power should be taken from the banks and restored to the people to whom it properly belongs. If the American people ever allow private banks to control their currency, first by inflation then by deflation, the banks and corporations that will grow up around them will deprive the people of all their prosperity until their children will wake up homeless on the continent their fathers conquered.”- Thomas Jefferson
U.S. big banks are given too much power and being reported they can operate above the law to commit fraud. When they were caught, they need to pay fine only. They are the culprits who help to create the crisis.
Do you think U.S. is on the way to its own destruction due to the impending sovereign-debt crisis that will happen soon? Just look at the following chart. And do you think Obama is doing the right things for the country?
Obama is trying to increase the debt ceiling again. Read the following link. http://www.moneynews.com/StreetTalk/obama-debt-ceiling-congress/2013/09/16/id/525950
The following is the old graph. Debt to GDP for U.S currently is 105%. Any country that goes beyond 60% is facing the big risks of ‘default’.
U.S. Old Debt clock was showing only 15.2 trillion.- Currently U.S. debt is 16.7 Trillion. It will be raised to 17 trillion in the next few weeks/
Gold is the only precious asset that is able to back your strong currency. Look at what the Russians are doing. Putin is buying gold. What about its debt? Look at the above chart and you can tell yourself the answer.
LOOK at the following chart, don’t you think you should buy gold