WSOMN's Snake on fiat currency, US debt, and global currency adjustment

by **Ssmith** Wed Feb 22, 2017 4:34 pm

Snake on fiat currency, US debt, and global currency adjustment	Permalink

World Wide Fiat Currency and our US Debt The US readily admits to a $20 Trillion dollar Federal Debt that is increasing at a daily rate of $3 Billion every day. What that translates to is $61,000 of liability for every man, woman, and child drawing a breath of air. It is further reported by Forbes magazine that most Americans cannot produce $500 in cash in case of an emergency. The G W Bush administration accumulated $4.9 Trillion in debt, the Obama administration accrued $9.3 Trillion, and presuming the $20 Trillion that amount now approximately represents the total value of all companies listed on the New York Stock Exchange - the biggest stock exchange in the world. This debt works out to $166,000 per income-tax-paying citizen today. These numbers do not reflect the additional $3 Trillion in state and local debt. Another debt vortex is the $67 Trillion promised in the form of Medicare and Medicaid benefits that is rarely mentioned when discussing the debt rotation. A noted economist and professor Laurence Kotlikoff says the total US Debt is closer to $200 Trillion making it virtually impossible to fathom, let alone solve. The present size of the US economy is under $18 Trillion annually which equates to a government debt to GDP ratio of over 110 percent - a 10% increase from the GDP ratio for the year ending in 2011. Were our economy along with the balance of the world’s economic production (most of which operate on fiat banking protocols) fail to return to some fashion of an asset backed money supply and either they collectively forgive debt or make an accelerated effort to pay down this debt binge, a storm of epic proportions will collapse the world’s economy. I base my conclusions upon: my own experiences in money management, by research that includes U S Treasury publications, Harvard Business School, Boston University, Brookings Institute, PeakProsperity.com, The Economist, NYSE, Forbes Magazine, the Social Security Administration, and several independent analysts. It is for these stated reasons plus other attitudes of confidence and understanding of debt reduction that I feel strongly that a global currency adjustment must be undertaken to prevent the ultimate collapse of the worldwide banking institutions and economic well-being of the planet as we know it. The above is all in my opinion only. (This article was written by Snake and posted in forum by GretaH)