http://www.lewrockwell.com/2015/02/no_author/are-you-ready-for-total-war/
Are You Ready For Total Currency War?
By Ron Holland
The Daily Bell
February 19, 2015
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“Are you ready for total war?” “Sind Sie bereit für totalen Krieg?” – Joseph Goebbels
On February 18, 1943, German Propaganda Minister Joseph Goebbels delivered a rousing speech at the Berlin Sportpalast, asking the German people, “Sind Sie bereit für totalen Krieg?” or “Are you ready for total War?” Germany had planned for Blitzkrieg and a short war and was unprepared for a world war as the combined military forces of the United States, England and the Soviet Union crushed the Reich relentlessly and systematically. Although the people and economy rallied in defense of Germany, total war only prolonged the horrors of war and delayed their inevitable defeat.
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Personally I don’t plan on defending American politicians in Washington from foreign or domestic assault or the central banking cartel and Wall Street investment bankers who ultimately will destroy the world in a sea of debt. But emergency presidential executive orders guarantee we will not be able to protect our retirement funds, savings and investment portfolios from confiscation when the chickens come home to roost on the Washington Empire.
If we have some wealth or property left when the dollar fails, we cannot stop the future “means testing” of our Social Security and Medicare benefits. Much of our domestic real estate holdings may well be stolen by favored groups and individuals when we can’t pay the exorbitant annual property taxes just like much property in the defeated South was taken by northeastern “carpet baggers” after the War Between the States – or lost during the Great Depression, which is a more likely scenario for comparison of what all productive Americans will face in the future.
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Americans should take advantage of recent dollar strength to diversify into gold, investments, real estate and safe haven locations outside the US dollar and the United States. Better to be early than too late because eventually the consequences of aggressive military actions, central banking manipulation and uncontrolled government debt and unfunded liabilities will come home to the American people.
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While I’m a tin foil hat, I do think that this nails two concerns of Joe / Jane Sixpack, every retiree or soon to be retiree, and anyone on a fixed income, poor, or with a family.
DEBT
18T$ that can never be repaid. Unless some Star Trek / Star Wars / Deus Ex Machina arrives to save us.
What’s worse, that level of debt can not be serviced at any historical rate of interest. If we assume 5%, then the debt service is 900M$ a year. Assuming you can keep rolling it over. (It’s called counterparty risk. Who will want the other side of that stinky IOU and at what price?)
LIABILITIES
Gooferment pensions, social security, unsecured bonds are wildly underfunded.
There’s a reason that corporations are dumping defined benefit pension plans and moving to defined contribution plans. No one wants to be on the hook for that “benefit” with the risk of going broke or to jail if it’s not met.
The politicians and bureaucrats that underfunded these liabilities will be long gone when these very ugly big chickens come home to roost.
ACTION
- Better save more and differently
- Get “prepared” like the Amish — for hard times. Think the Great Depression on steroids
- Demand political accountability for spending, deficits, debts, and “entitlements” aka welfare
- Diversify and keep a lot in reserve
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