👉A Dollar Crash is Inevitable, Dr. Stephen Roach Warns !!

👉A Dollar Crash is Inevitable, Dr. Stephen Roach Warns !!








A Dollar Crash is Inevitable, Dr. Stephen Roach Warns. The stronger dollar era may be on borrowed time. Stephen Roach, one of the world’s leading authorities on Asia, is worried a changing global landscape paired with a massive U.S. budget deficit will spark a dollar crash. “The U.S. economy has been afflicted with some significant macro imbalances for a long time, namely a very low domestic savings rate and a chronic current account deficit,” the former Morgan Stanley Asia chairman told CNBC’s “Trading Nation” on Monday. “The dollar is going to fall very, very sharply.” Roach predicts a 35% decline in the U.S. currency against its major rivals in the near future, citing increases in the nation’s deficit and dwindling savings. He added that the rise of China and the decoupling of the U.S. from its trade partners is likely to end the supremacy of the dollar as the world’s reserve currency. Dr. Roach is right that sooner or later, manipulating the dollar for our own purposes will come back to bite us. So much of the US prosperity these past decades has come from having the "reserve currency" with the willingness (now gone) to make sacrifices for the world order. The bottom line is that $4 trillion in stimulus has been created to deal with Covid-19. The national debt just passed $26 trillion (130% of GDP). When you create more money, its value must go down, unless other currencies are also being increased at the same rate. While Europe and Japan have also passed their own stimulus, they haven't created proportionally as much new money as the US. Meanwhile, China and Russia have so far refrained from using unconventional fiscal policies. Russia's government debt as a percentage of GDP is actually among the lowest in the world. Not everyone is in the same boat. The US will one day have to face economic consequences for what it has been doing for decades. But what's going to replace the dollar? Certainly not the euro. The yuan? China is even more manipulative of the yuan than the US is of the dollar. China has no transparency, and it has massive internal yuan debt over two times its GDP that is its priority rather than supporting the yuan as the new world reserve currency. The dollar's appeal is that it is 'the cleanest shirt in dirty laundry.' But, it's going to take a lot more than structural change before the yuan can even begin to function as a reserve currency. When people get really scared they go to Swiss Francs or gold. Any asset that can be arbitrarily revalued at the whim of the Chinese Communist Party can only be speculative. The dollar can be replaced by a basket of convertible currencies. In fact, individual investors should do some of that through international diversification. The era of the U.S. dollar’s “exorbitant privilege” as the world’s primary reserve currency is coming to an end. The days of the dollar as the world's reserve currency are numbered. This does not bode well for the future of the U.S. We have lost our leadership position in many areas. The decline will be painful. Oil and gold are starting to trade in other currencies. When the US dollar is no longer the world standard, America is in real trouble. The Federal Reserve deserves a huge part of the blame. The dollar is losing value against all major currencies. We have almost no savings and mountains of debt. We can't pay our bills unless the FED monetizes it. The political situation is not helping either, and it will continue and accelerate the downfall with more political turmoil and uncertainty. Some countries that are heavy US Dollar reserve holders will find themselves losing a lot of purchasing/exchange value. Trump destroyed confidence in the US, and he has alienated a ton of countries, including allies. China and Russia have already started trading oil in a non-dollar currency. If there's an alternative, other countries are certainly open to pursuing and using it. SDRs which were created by the IMF is a basket of currencies, albeit with the US dollar as the main currency. But that can change. With all that is going on in the US, more countries will look somewhere else. What's the dollar's future now that the Fed created an additional $5 trillion in just the last few months! This is an election year. The Fed could bail out every state, city, corporation, and pension plan even if it costs $50 trillion. We are going to use dollar bills as toilet paper within five years. Probably in three years. When the fed is printing trillions of dollars a month, something will eventually need to give. In the 1980s, the total debt was around 1 trillion. We are now adding that much each month to both the fed balance sheet and the national debt. Zimbabwe here we come. The dollar is a dead currency walking. With the Fed now creating more dollars in a month than they used to do in a year, we're going to have hyperinflation like Zimbabwe or Weimar Germany or Venezuela. Massive money printing always leads to hyperinflation. I expect the dollar to be dead within three years. China has been making deals all over the world to trade with other countries in the Chinese currency. The banknote known as the dollar was placed in a coffin by Nixon. Removing even the idea of the gold backing the currency spelled its death. It has been buried six feet ever since. All fiat eventually goes to zero. As the US continues to pump phony money, eventually we will be papering our walls with it. The Ruble and the Deutschmark at their lowest come to mind. First, the dollar falls, then rampant inflation kicks in. The US has done a magnificent job with the smoke and mirrors while debt keeps rising. Now the rest of the world is waking up to the fact that they might not be able to pay back all the loans. In principal, US dollars should lose 50% of its value by 2025 due to infinite QE that will have printed close to $20T by then. But, the strength of a currency is relative. The competitors of the US Dollar, such as the Euro, GBP, and Yen, are in a far worse state than the dollar. If you put $1 in a T-bill in Jan 2000 and held that until Jan 2015 before cashing it in, accounting for interest paid, taxes on that interest, and the currency devaluation over those 15 years, you would have just 75 cents of the original buying power of that dollar left. Investing in the US is a BAD financial decision. The rest of the world is waking up to that realization. The US dollar today has just 2 cents the purchasing power it did in 1950. When it finally loses its World Reserve status, it will jump from $1500 per oz of gold to $30,000 per oz of gold within a year. And the US will become just another 3rd world debtor nation. The dollar is as dead as the USSR ruble or the ancient Greek souvlaki. If you have any, you should rid yourself of them forthwith. You should hold your dollars in other assets and convert them when needed. Don't just let your dollars sit there in your bank account because that's where the damage will be done. Every other asset will go up, some much greater than others. The stock market has turned into a high-interest savings account; you hold it in there and convert when dollars are needed. Stocks will not keep up with inflation, but its better than dollars in a bank account. Commodities will outperform stocks, but it's useless trying to hold physical bushels, bales, or drums. That's why gold is the easiest commodity to deal with; $500,000 in gold can fit in a sock drawer. The dollar has failed twice before in our nation's history. Once after the revolution and again after the civil war. It's about to fail again. Expect your wheelbarrow that's hauling around all of your dollars will be worth far more than the dollars themselves. Expect a 15:1 reverse split on the dollar with a return to the gold standard. The last time our dollar was worth 100 cents was back in 1933. If you peg the purchasing power of the 2020 dollar to the 1933 dollar, the 2020 dollar's purchasing power will look like this .001. We are $26 trillion in National debt alone. States are in debt. State pensions are grossly underfunded by $1 Trillion. Personal debt is skyrocketing. The groundwork was laid at least since 08 when the last crash happened. China and Russia made agreements with hundreds of countries and not just insignificant ones, like England and Australia, to trade with their own currencies and bypass using the dollar. OPEC countries have been doing the same thing. Eventually, the dollar will fail. It’s inevitable. All fiat currencies fail. What’s next? Who knows? It could be a basket of currencies using special drawing rights from the IMF. More than likely, it will be digital, no more paper money. If ANY country on earth decides to just print dollars, FLOOD the world with paper money, then why work or waste time producing goods. There is a reason why China, Russia, Europe, BRICS (Brazil, Russia, India, China, South Africa) are all deciding to use different currencies besides the US dollars. The US is dead broke and held up by countries that lend it money by buying US treasury bonds and bills, and at the same time, the dollar grows in strength, indicating a strong US economy. This is further evidence of a broke system. There will be an intervention, and then the dollar will eventually fall to an appropriate level, approaching zero. Then the dung will really hit the fan. Our monetary system is based on inflation. The greater shame is very few of us realize that we also are taxed on that inflation. Think capital gains. What a scam. "It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." Henry Ford. I'm afraid 95% of Americans are too dumb to get it. Slave away at the 8-5 their entire lives for peanuts and get taxed at 50% while the FED "creates" trillions from nothing. No work or productivity, just money for nothing. The biggest scam of the last century, and still going strong today. Of course, for most in the USA, ignorance is bliss. Endlessly printing a currency may solve things in the short term, but long term, it causes serious damage to the value of that currency. This has been proven countless times in history. Now, do I think that the US Dollar is going to suddenly crash in value overnight, leaving us all in some doomsday financial apocalypse? Of course not. It is still a (generally) strong currency and the world reserve currency. Despite that, no fiat currency is invincible to endless printing. Eventually, the value WILL come down relative to other currencies, and things WILL shift...over time. How long that takes is anyone's guess. Hedge your bets. You'd be smart to keep at least some money in harder assets with limited supply. The good news a crash in the dollar will make America manufacturing and good, more attractive. If the dollar crashes, then all incentive to import stuff that was cheap will be gone. And stuff made in the USA will look inexpensive to the rest of the world. And the cycle continues. The dollar is being squeezed right now because of the sheer amount of dollar-denominated debt in the world (which tends to happen when you are the reserve currency of the world in such a globalized economy in the age of the internet). The danger to the dollar is that there isn't enough of them, of which everyone defaults, and something replaces it. I expect something similar to Bretton Woods to happen again, be the dollar pinned to Gold or Bitcoin or something. The deficits and money printing isn't serving the American people. It's serving the dollar backstop of the global economy. Global elites are getting ready and using the virus as an excuse to introduce a new reserve currency based on a basket of currencies and hopefully some gold too. "What currency would you buy and hold for the next 50 years?" Absolutely none. At 2% yearly inflation, your holding would be worth 63% less after 50 years. The US Dollar is programmed to devalue at 2% a year. In fact, the economy could not survive without that induced devaluation. One hundred ten years of data from Macrotrends indicates silver appreciates at 4.3% per annum with the volatility that creates income opportunities for selling covered calls. Using an ETF like SLV, the metal indeed becomes a virtual currency, liquid enough to use. The reason silver certificates were pulled in 1963 was that the commodity value in a silver dollar for the first time rose above $1. It surpassed $1.33/oz in that year ( a silver dollar is 75% silver). It's now $17/oz. That should be all you need to know about how our monetary system works. Buy gold and end the FED, the dollar is being turned into toilet paper! Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Consumer spending makes up 70% of the USA economy. Most of that spending is on goods we import, which means other people work to make them, some of it is good, but we don't invent and build anything to put our people to work. With COVID 19 mishandling, the spending is quite down to food mostly. The stock market paper gains are included in the economy, but most stay in the hands of very few people. It was decided back in 2008 that money has no actual value, so any saving not in the stock market produces ZERO income for their owners. Our governments have been lowering taxes for the rich while neglecting to improve the infrastructure, health/safety, education, and job training in a changing world economy, stuff that would benefit the American people. Politics has been about so-called social issues that make no difference in people's lives, all about ABORTION, GUNS, RELIGION, AND HATRED FOR IMMIGRANTS. NOW the chickens have come to roost. The U. S. can only make a new currency by default. Its bonds would become as poisonous as those of Argentina. Interest rates would soar. As America funds itself by borrowing money, social programs and public services would collapse, and the military would dwindle away. It would go into immense poverty, because it is a nation of consumers, and has little real wealth. Manufacturing has all gone abroad. America lives by devouring the world's goods in exchange for worthless paper dollars, which were forced upon humanity by brutality and fraud. Once the dollar goes to zero, America is nothing. What is worse, its destruction will be blamed on capitalism rather than socialism, so that all efforts to rebuild will be futile. The dollar being the world's reserve currency, allows the USA to run trillion-dollar deficits because it exports its inflation to the world, and the world absorbs it as the increasing population needs more reserve currency to conduct its business every year. That pretty well eats up the extra dollars the Feds keep printing each year to finance our federal deficits. If we were say Greece, the currency and country would have imploded decades ago, just like Greece did when it tried to run continuous deficits. The problem is our presidents, including Trump, are trying to use the dollar as a political weapon on countries like Iran, which will give countries a reason to use another currency to settle debts. China, Russia, and India are working on such a currency, When an alternative is available, the US dollar will implode, and the USA will be in a recession worse than 1929. Of course, it will fall because what goes up must come down eventually.No kidding! The Fed keeps adding zeroes to bank screens and buying stocks and bonds while propping up hedge funds. It is called the REPO market. In case of a default, The stock market and housing bubbles would deflate, causing losses of up to 90%. Pensions would be wiped out. All social programs would be cut. The price of goods and services would soar because there would no longer be a strong dollar to buy them with. The dollar would plummet in value. Unemployment would be lasting and horrific. And capitalism, instead of socialist central banking, would take the blame for it all, leading, possibly, to decades of misery under socialism. This is America's fate if it defaults. If it doesn't default, it has, at best, a few years longer before hyperinflation takes hold, and has to default anyway. Because, by this point, only tens of trillions per annum can keep yields sufficiently down for the system to function. They have tapered liquidity to $1.5 trillion per annum, and stocks are already slipping into a crash. It isn't enough. Food prices are rising because rather than the last 39 years of the Fed, creating credit and handing it to hedge fund managers and congress. Creating asset price inflation and runaway growth in medical spending and what amounts to welfare, corporate, and otherwise, new credit-money was handed to Joe Sixpack. You can't violate Say's Law with impunity. Creating purchasing power by any means OTHER than production simply increases the amount of money chasing whatever is in the marketplace. It doesn't add to what is available for purchase. Taken to the extreme, you have the situation in the USSR where people had rubles, but the shelves were bare. This is what flooding a nation with credit-created-from-nowhere produces. Under FIAT money, money was debt, so debt was wealth. People forgot that an IOU is nothing until it's paid-back. We now have a world drowning in "wealth" that is nothing but IOU's that depends on all other IOU's performing, when mathematically we long ago passed the point where this was true. All that "wealth" is an illusion. So is training people to forget that it's not about money-in-hand, it's about the product available for purchase. Goods availability is likely to crater in the next couple years, and if politicians attempt to make people whole by creating trillions in credit, all it will do is crush the average man's standard of living even more. Did the Trump administration open Pandora's Box by seizing the Fed's credit creation system? Only time will tell. For nearly 40 years, we witnessed credit-inflation on an unprecedented scale, but because it flowed into asset markets (including the value of debt itself), no one cared. We all seemed to get rich. Now, much of that wealth (in the form of debt, and in asset prices rationalized by its wealth-effect existence) is likely to disappear (mostly chaotically), but goods availability may plummet as well, meaning that prices could rise or fall, but affordability will plunge for many things. Oh, how the sky darkens with chickens coming home to roost. On second thought, that must be locusts. Currency collapses are usually followed by war. In the case of a collapse of a major global currency, that would mean global war. China / India may be the flashpoint. India, with the support of the US. China, with the support of Russia. The current system is being run to the ground by design, so the Fed can issue in a NEW system- henceforth why the Fed is "burning up dollars" to buy it all. We have been stolen into darkness by the evil greed of people for whom we voted. May I suggest Water, Food, Lead, Silver, and Gold in this order. This was The Atlantis Report. Please Like. Share. Subscribe. Leave me a comment. And please take some time to subscribe to my back up channels, I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have already donated. Stay safe and healthy friends!

Warning : Food Shortages Coming to America !!

Warning : Food Shortages Coming to America !!






The pandemic has caused an unprecedented worldwide economic shutdown, which has put an enormous amount of stress on global food supplies. And as the coronavirus continues to spread around the world, the United Nations is warning about global food shortages soon. The world you know is going to change dramatically and permanently. UN officials also predict soaring food prices as lockdowns in various countries slow down supply chains, and as some countries implement export restrictions to prevent domestic food shortages. Restrictions on movement have meant farmworkers are in short supply, and food is at risk of rotting in the fields. Fruit and vegetable farms in America rely on cheap foreign labor to harvest their crops. Restrictions on movement have meant farmworkers are in short supply, and food is at risk of rotting in the fields. Restrictions on movement across the world have meant vital farmworkers are in short supply, and now food is at risk of rotting in the fields. Meat prices are extremely high. Food hyperinflation has definitely kicked in. The price of steaks and chicken is through the roof. Now is the time to restock in prepping for the second wave. Don't worry about what OTHERS think of you. Here in America, stores still have plenty of food. But empty shelves have started to appear, and we are seeing spikes in food cost, especially meat. Meat processing facilities have been shut down all over America due to coronavirus, and this is starting to create some really annoying shortages. There is definitely a meat shortage. A lot of farmers may have to go out of business after being financially ruined during this crisis, and we will seriously miss that lost production capacity in the days ahead. The global food supplies are only going to get tighter and tighter. Now is the time to restock in preparation for the second wave. You are indeed on the verge of being too late. Food prices are skyrocketing. Those of you who turn your nose up at canned meat better rethink that quickly. For it is already getting difficult to find it for the third year in a row. Torrential rains have returned to many crop growing areas. So do not expect any relief from a bountiful harvest. The old standby of rice and beans will not work either, with the rice shortage in many areas, whether the food is unavailable or too expensive. The result is the same. Get essential while you can, and not just-food. The benefits of being a hunter/fisherman and having a garden become more evident. You need to become more self-sufficient people! Food shortages are looming, and the cost of food is going to rise even faster than it has been doing. And it isn't because of global warming or whatever other lies they tell you. It is, however, partly a side effect of the coronavirus. All around the world, food is in short supply. In rich western countries, starvation is not an imminent threat. But what we are seeing is an explosion of hunger that is absolutely unprecedented. All over America, people have been lining up “for hours” at America’s food banks so that they can be sure to get something before the supplies run out. The biggest food shortage will be in third world countries. The price of the world's most important staple food, rice, has risen by 70 percent in just a few months. Food prices in the United States have seen a historic jump and are destined to stay high and to go higher. There has been a lot of empty shelves at the grocery stores for weeks now, not only the can goods and freezer aisles but also the fresh meats. Absolutely forget about trying to pick up some disinfectant and toilet paper. Countries which have good food production are halting their exports. Vietnam, for example, has stopped exporting rice because they need their food supplies at home, and you can't blame them. All countries, all villages, all homes would do much the same. Processing plants and distribution centers all around the world have been severely disrupted by the coronavirus shutdowns. If one works on a farm or in a warehouse, for example, and shows coronavirus like symptoms; then the authorities often close down that farm or the warehouse. Huge crops of vegetables and fruit are being plowed into the ground, and tankers full of milk are being poured away. Millions of animals are being slaughtered and then buried or burnt because the supply chains have been shut down. America almost unbelievably is now importing beef because of the shortages there. Thousands of farmers can't get their crops picked, fruit, in particular, is likely to rot in the fields. Controls on transport have meant that there's been it's been difficult to move food from where it is to where there's a dearth. The unsurprising consequence of all this is that there's going to be a massive shortage of fruit and vegetables and so prices are going to rock it. The shortage is global, not local. All around the world, there are shortages of almost all foods. And other factors are going to ensure that the shortage gets worse. Rice and beans for a while won't do you too much damage. If and when the economy is allowed to stutter into action again, the price of oil will doubtless eventually rise because the existing supplies are diminishing rapidly, and most oil companies have pretty well given up expiration. The rising price of oil will mean that farming and transportation costs will rise, and that will also push up the price of food. There are several other explanations for what's already happened and for what's going to turn this into a perfect storm of food shortage. The other problem is locusts. Plagues of them have been traveling from Arabia into Africa. A plague of locusts can, in just a couple of days, eat their way through as much food as would keep the whole population of California going for a day. A swarm can lay a thousand eggs per square yard of land. And you can imagine what all those locusts are going to do to the world's food supplies. There are swarms of locusts wandering across Africa. And each swarm can cover 20 square miles. All the locusts do is breed, and eat. When they land on a tree, the combined weight will bring down large branches. Inevitably the health crisis that has been gripping the world has disrupted supplies of the chemicals for spraying. And the swarms of locusts are getting bigger and bigger and threatening food supplies in Africa, Arabia, and Asia. A swarm of locusts can strip a hundred acres in minutes. The economies of those countries affected are going to be destroyed. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Food will be scarce, and what there is will be unaffordable locally. The food shortages which are going to come will be biblical. Farms and warehouses and distribution centers can be closed down apparently legitimately when one worker test positive for the coronavirus or develops a mild symptom or two. The advice here will help my viewers is: do a little food stockpiling now so that you and your family will have a better chance to be strong and healthy. It isn't selfish; it's survival. If you have a garden and can grow favorite vegetables or fruit, that's probably a good idea. Get off the couch, get the garden tilled. Kale, cucumbers, tomatoes, potatoes, spaghetti squash, acorn squash, strawberries, bell peppers. At the beginning of the year, my guidance told me the greatest investments at this time are good soil, seeds, and clean water and air. Also, learning to forage and how to preserve—basically become as self-sufficient as possible! Now I know why. Hopefully, others can do the same, and we can all help in our communities. I stocked up on rice, lentils, pickles, tinned food, and loo rolls back in March because I saw what was happening around the world. I still have the stockpile and replenish it whenever I consume anything from it. I have around six months of food stocked. And I'm still stocking up. Everyone should always think ahead and plan. We also need better regulations and organization of the food supply and distribution. As a country, we definitely have transport issues and growing and harvesting issues. As Americans, we waste more food every day than it would take to feed most of the world for that day and maybe more. Just think about all the leftovers that get dumped every day. Fresh fruits and veggies that get tossed. Expiration dates pass on packaged meats. The farmers are letting produce rot, while we subsidize them. Does something seem rotten here! So, we have transport issues and growing and harvesting issues. In other words, there will be food shortages and rising prices. When the trucks stop rolling, it's time to panic. These are the realities of the supply chain: Sugar beets, rice, and corn all were hit very hard last year from excessively long freezing periods, where crops froze in the ground and could not be harvested, and later when there were excessive water and crops were not planted in time. Other crops have been hurt by excessive cold and wet weather in the last year too. Sometimes you just see a large price spike. Other times you see rationing, as it has been with some sugar and corn products this year. Also, flooding rain the past two growing seasons in the US. Hardly any crops were able to be planted last year in the midwest because of mud and standing water. The same thing is happening this spring. Add in how much food is now imported from other countries, and those ships are not coming into the ports. Add to that the fact that the FDA has decided not to issue any migrant worker visas. That means crops this year are going to sit there in the fields and rot unless Americans get out there and pick them. And yeah, some will, but will it be enough! You tell me, with all these things, and the shelter in place orders, do you really think the food supply is ok? I don't. Plus, the value of the dollar will decrease. And scarcity will inflate the price. The poor are really in trouble. There are no redundancies in the food processing industry; they have been eliminated in order to create the "Just in time" delivery system. Due to Lean Manufacturing and Just In Time Delivery, the food processing supply chain runs on the edge of failure when times are good. In reality, we have an "Almost Failing" delivery system. Just one little glitch, and the entire system falls apart. The pictures of empty shelves say it all! When food isn't making it to store shelves, it's a shortage of food, no matter the circumstances that lead to that result. Also, farmers are dumping milk and letting crops rot in the field. Have been hearing of cattle farmers possibly killing their herds and burying them under because of the situation of restaurants and schools being closed This was The Atlantis Report. Please Like. Share. Subscribe. Leave me a comment. And please take some time to subscribe to my back up channels, I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have already donated. Stay safe and healthy friends!

👉National Debt Tops $26 Trillion - Powell Warns The Deficit is now Unsustainable !!

#theatlantisreport #usnationaldebt #usdebtclock 👉National Debt Tops $26 Trillion - Powell Warns The Deficit is now Unsustainable !!









National Debt Tops $26 Trillion - Powell Warns The Deficit is now Unsustainable !! America's national debt has been ballooning at an exponential rate during the last 15 years. But it has exploded out of control after COVID 19, adding around one trillion dollars more of debt each passing month. On Tuesday, the national debt pushed above $26 trillion. That's greater than all the national debts of Japan, China, France, Germany, The UK, India, Australia, and Russia all combined. Just 35 days ago, the debt eclipsed $25 trillion. And 28 days before that, the national debt stood at a mere $24 million. The U.S. National Debt hit a new record high of $26 trillion last Tuesday on the 9th of June. In the last 63 days, we've increased the national debt more than two trillion dollars. And if nothing changes, if we stay on the same trajectory, by the end of this fiscal year, the debt will be over twenty-eight trillion, maybe pushing 29 trillion dollars in national debt. Because our structural deficit this year is going to reach somewhere around six trillion dollars. In other words, we will have spent six trillion dollars more than we brought in in revenues. The ramifications of this kind of national debt are going to be catastrophic. The national debt will exceed the gross domestic product by about a hundred and ten percent. When that happens, we must confront it, we will have to face the ramifications of it. It took the nation 210 years to run the National Debt up to $2 trillion. It took exactly two months and two days to add the most recent $2 trillion, Peter Schiff said in a recent tweet. The country’s gross debt has now crossed the historic $26 trillion mark for the first time. This almost inconceivable number comes after several months of inflationary measures by the Federal Reserve, which has seen the dollar supply increase dramatically. Today Wednesday, 17th of June, a week later, it has jumped again to $65 billion. The U.S. National Debt was $25 trillion just last month in May and $24 trillion in April. The tremendous increase in debt is due to the response to the coronavirus pandemic, which has only sped up the ongoing global economic crisis. Prior to COVID-19, the U.S. debt had already been growing exponentially for the last six-plus years. In Oct 2019, it was $23 Trillion, in May 2019, it was $22T. In Mar 2018, it was $21T, Sept 2017; it was $20T, Feb 2016; it was $19T, Jan 2015, it was $18T, and Jan 2014, it was $17T. This is not healthy for our overall global economy. The U.S. debt level is growing faster and faster every year, and now even every month. The exponential curve is getting steeper and steeper, if not already out of control; it soon will be. Meanwhile, the federal government just set a record for the biggest budget deficit in any fiscal year — with four months left to go. The US deficit soared to $1.9T for the first eight months of the fiscal year. $3.7 trillion deficit per year, is just over seven times the total of Sweden's GDP. In May, the gap between what the government spent and what it collected hit $424 billion, more than twice the level it was at one year ago. Revenues in May totaled $175 billion — down $58 billion from last year, the result of a decline in wages and overall economic activity. May’s budget shortfall pushed the fiscal 2020 deficit to $1.9 trillion, according to the latest monthly US Treasury Department statement. Fed's Powell warned Congress during his semi-annual testimony that the U.S. budget deficit, which is expected to hit $3.7 trillion this year, is on an unsustainable path. The previous budget deficit record for any year was $1.4 trillion in the Fiscal Year of 2009. Before this year, the federal government had run deficits over $1 trillion in just four fiscal years, all during the Great Recession. The Committee for a Responsible Federal Budget estimated the debt would grow by $4 trillion this year. As interest payments rise, the government will either have to collect more taxes, cut spending, or print money. Remember that as interest rates increase - so does the nominal debt. Someone has to pay for the tax cuts, and guess what? It ain't gonna be the major stockholders who benefited out of it. If interest rates begin to rise, the cost of holding on to that debt becomes more expensive. If interest rates were to be at 4%, that debt would begin draining money from other resources. We will be paying over 400 billion just on interest on the debt. With the ridiculously low-interest rates. If interest rates were 3-5% percent, interest on the debt could become the largest expenditure. Debt eating up all of our income tax payments. No wonder our prosperity is declining. We really can't keep going in this way; it's unsustainable. And that just means the debt is growing faster than the economy, so debt-to-GDP is rising. That is, by definition, unsustainable." The Fed is largely to blame for the debt problem. They lower interest to boost housing and the stock market when wages and real growth has not happened for YEARS. So, people take out higher loans. So people go into debt, spend less on other things, and wages are still low (in comparison), so Tax revenue is just as low. Hence THE DEBT BOMB. And Democrats and Republicans want to give away more free money! The debt load is expected to rise to 125 percent of GDP over the 20 years. That's higher than the US debt-to-GDP ratio during World War II. But perhaps the most striking aspect of the growing debt is the fact there really is no end in sight, and the US has no chance of ever paying off the debt. The national debt is a huge concern, not for our government, but for us. The Fed can just keep printing money and inflate the debt away. For us, though, it just makes things cost more, and our buying power dwindles to nothing. Look at Venezuela and Argentina. Think that is isolated to third world countries? We are on the same fiat monetary system. Just because other countries want to own our debt doesn't make our debt/dollar safe. One day that will change. China is circumventing the dollar by allowing countries to buy oil with Yuan convertible to gold. Why would you buy a dying US dollar to buy oil when you can have a real asset like gold? The problem is that we are stuck in our debt-based economy. If we don't increase the debt, the economy collapses. The National Debt is unplayable at this point. The socialist Republicans will not stop until there is no more paper to print money. And the socialist democrats are worse. If this deficit spending continues, our US Dollar will lose its pre-eminence as the world's trade currency! The USA has already intercepted Oil trading on the high seas... Other countries already don't need the US dollar for their trade. When the dollar tanks, interest will have to be raised. And then, watch out housing and stock market and everything else. If you THINK that you've seen chaos lately, wait to see it when THAT happens. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. With a national debt of over 26 TRILLION and an annual budget deficit of a TRILLION dollars, some still claim we are WINNING. Despite the declining manufacturing data, ballooning national debt, and budget deficit. As interest rates go up, the cost of financing the National Debt is also going to go up. The Government wants inflation to pick up. But they will not increase the Social Security payments by anywhere near real inflation. In fact, over the last seven years buying power of your Social Security has gone down because of the inflation, the Government won't talk about. If inflation starts to get away from this Government Treasury notes, bills and bonds might be the place to stick your money. Remember the 13 and 14% Nixon years. You could have picked up 30-year bonds with a 10%. We’re lucky the US is the world's reserve currency and get a major boost from this, where other countries approaching 100% debt to GDP have trouble selling their debt, and interest rates go wild. But we will find ourselves in a major rate bind when the next recession hits and more deficit stimulus spending is needed to jumpstart us out of it. Soon the world will pull our reserve currency status, and that is going to make some people very unhappy. We are flying blind here, just piling on deficits, and eventually, it is going to catch up, and it will be a catastrophe. Obama DOUBLED the national debt in 8 years, adding ten trillion, that's more Debt than every other previous President COMBINED. Trump has added about $6 trillion to the national debt so far, despite his pledge to wipe it out in eight years and his campaigning on being "the king of debt." Remember, in the primaries Trump stated "we need to reduce the national debt" and then said the great tax robbery from the middle and lower classes in favor of the rich would bring in so much new tax income for the federal government that it could begin to cut the national debt !! I am STILL WAITING !! If you take away the $70B tax break given to corporations, the net growth would be 1.8%. I have to conclude that Trump doesn't know what he is doing with the economy. Why do we need to spend $730B a year on defense? If you add the $300B that NATO is spending, that is more than ALL military spending of all of the other countries of the world COMBINED! However, I dispute the premise that any businessman needs to be President. The government is not a business. It does not produce anything. The money coming in is money taken from the hard work of citizens. We need someone with morals to be President. Someone who actually is concerned with how to spend our money. Yes, we need national defense, we need infrastructure, we need about 1000 other things as well. However, we do not need anything so bad to borrow money outside of natural disaster relief. Everything else can and should be planned for. If we can’t afford something, then we can’t have it. I want a Porsche but can’t afford it and am unwilling to give up a few other things to get it. It should be the same as the government. Businessmen don’t think that way. They borrow and spend, and hopefully, the new product pays for what they borrowed. The government has no new product to sell. Conservatives claim government spending doesn't improve the economy unless it's corporate welfare for the military-industrial complex. The US outspends China by six times and Russia by ten times in military spending. Trump touts increased spending on the military as one of his administration's top accomplishments. The only thing our government has always been good at is literally just spending money they don't have. We literally already pay so much in taxes. They need to cut spending. The defense budgets are completely out of control. But it has always been such a boondoggle for politicians. No politician is willing to speak the truth. Balancing the budget will take three things. Entitlement reform. Cut military spending. Increase tax revenue. Touching one of those three will get you primaried in either party. Fiscally responsible, GOP sent the deficit into the stratosphere. Haven't you heard, since electing the chosen one, debt is no longer an issue, we just default, easy cheesy lemon squeezy. Why would we pay off our debt when we can tell the contractors to take a hike. Of course, we'll still have to cut social security and cut medicare. Somebody has to pay for the wealthy/corporate welfare program. Support corruption, forsake your principles, edify the wealthy/corporations at the expense of the U.S. all. Default on the debt and watch the US dollar become worthless overnight. I hope Trump isn't that insane. The ruling banksters probably think that they are exempt from what happens when the dung hits the fan. They probably even have bunkers setup or compounds on remote Islands. The problem is that even if you have a trillion dollars, you can't buy a can of tuna if there is none. Taxpayers are the proverbial goose that laid the golden egg. Trying to assume that the economy will just continue to grow to cover any rise in interest payments is the epitome of stupid. Personally, I hope we have a crash in the next couple of years so that we can FINALLY have an adult discussion about Federal spending. At some point, the public will demand higher interest rates for Federal debt issued, which will invariably crowd out the stupid amounts of spending on pork-barrel projects, special interest handouts, and the government contracts for defense. Shame on both Democrats and Republicans for this mess. A study of 20 developed countries who became overindebted showed that ALL 20 had to eventually go through austerity to resolve the issue. It is also a fact that NO country has been able to print its way out of debt. With the amount of debt we now have, we will already have to go through decades of austerity to pay it down. The longer we keep racking up the debt to avoid the pain, the longer the period of austerity we will have to go through. And the entire world will be having to go through this austerity - making it even worse. This is just common sense and should be recognized by anyone with a fully functioning brain!! We need a real and huge spending cut program. Starting with the government subsidies (there are over 2200 of them). Eliminate all of them (that equates to about one trillion dollars a year). Subsidies, which always interfere with the free marketplace, are essentially a "slice" of Communism - the most failed Economic system ever. Next, reduce government workers' salaries, pensions (no more full retirements at age 55 or under; wait until age 65 like the rest of us to earn full retirement benefits), and benefits to the equivalent of their counterparts in the private sector. Instead of pensions, put them on Social Security and contribute a small percentage of their annual salaries annually to their IRAs. No overtime pay for management employees. Go to automatic income tax deductions similar to Social Security - no forms to fill out - enabling us to eliminate most of the IRS. Abolish the debt-ridden and job-killing Obamacare. Government regulators get a new job - instead of endlessly creating more job-killing regulations, they start off with a clean piece of paper, make a minimum of needed regulations and eliminate the millions of regulations on the books now. The Fed is extending CREDIT, i.e., enabling more debt creation. They are allowing debtors to dig a deeper hole. Debt is a financial hole, and the first rule of holes is when you find yourself in one, stop digging. At some point, that debt will be defaulted on because the borrower becomes insolvent due to the collapse in the value of the collateral. It is very likely by then that the bond market falls apart and freezes, which means MARKET interest rates rise rapidly and lending freezes. The Fed has ensured that even the "responsible people" who have "done the right thing" are going to be screwed too. Inflation is already a problem. Groceries costs are doubling. Some new cars cost as much as a house. Rent is at an all-time high. Health insurance for a family of 3 is $1400 per month. These are big inflation numbers but will be dwarfed by what continued monetization will do. People are rioting and looting because they are being left behind. If you artificially create inflation in prices while simultaneously creating hyper-inflation in stocks, guess what happens! The non-investor class goes from middle to lower to peasants. And if I am a pissed off peasant, and I see an unguarded AT&T store, I am taking a few iPhones, because I am entitled to them. We have created a Hell of our own making. The US has austerity for the poor, hungry, and homeless folks. We cut back on food stamps, housing subsidies, school lunch programs, halfway houses, mental health centers, drug addiction programs, early childhood intervention, clean water. But there is ALWAYS a spare trillion for the military each year. Since 2009 the nation’s private-sector employers have been adding jobs for 132 straight months – 20.8 million since the Great Recession, and yet, nominal wage growth since the recovery officially began in mid-2009 has been low and flat. U.S. consumer debt is now above levels hit during the 2008 financial crisis. So despite the longest U.S. economic expansion in history, the debt more than doubled, nominal wage growth during record low unemployment is low and flat, the interest rate didn't recover, and consumer debt is at record high level. Understand this, when Social Security just starts to take in less than what is received, which is soon, the debt will explode at an even faster rate!! The debt is getting so big; soon, interest payments won't even be TOTALLY paid. Please protect your family by buying some physical gold and silver, even just 10% of your net worth. Bypass the future food lines and shortages, as people in "rich" countries before have done in times of national upheaval. 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