I must confess that I never, in my wildest imagination, thought the government would take on another TRILLION in debt to allay fears and delay the financial meltdown I had warned about.
So what do all the nay-sayers who smeared and belittled my projections have to say now that I was proved 100% right?
Incidentally, this is not over; not by a long shot. In fact, the "bail out" plan is not only going to fail, it is going to make the failure even worse.
The reason the US Treasury came up with a "bail out plan" is because the US Federal Reserve is broke; our central bank has no money at all to lend. They needed the Treasury to step-in to PRINT the Trillion dollars they need for the bail out.
The printing presses are already cranking out cash but the rest of the world is not fooled. They now realize that all U.S. Government debt (Bonds etc) is totally worthless because the US has been reduced to a banana republic that prints money to pay its bills.
In the not-so-distant future, the value of the US dollar will suddenly and dramatically plummet against world currencies as one or more governments finally decide to dump the US dollars they hold and reject the Dollar as a currency. Once that happens, and it WILL happen, the rest of the world will dump dollars and that will be the end.
The US Treasury will then be left with no choice but to "de-monetize" the dollar, making all dollar assets instantly worthless. Everyone who has "dollars" in any type of account or stock, will instantly find all their holdings are not considered "money" anymore. They will be instantly destitute.
As the country reels from the shock, the government will explain why the only way to salvage anything at all is to introduce new money "THE AMERO" and merge the U.S. with Canada and Mexico creating a new nation called the North American Union.
The citizens of those three nations, in hope of salvaging their life savings, will embrace the merger as "the only solution" and America as we know it will be gone forever.
Want to thwart their plans? Buy small amounts of gold and silver bullion and take delivery of the metal.
Also, open foreign bank accounts and wire transfer some of your cash to those accounts, to be held in the LOCAL currency: British Pounds, Swiss Francs, German Deutschmarks but NOT "The EURO."
The EURO is a totally worthless fiat currency backed with nothing and by no one.
Between the gold, silver and foreign currencies you hold, you may avoid being totally destitute when the big shots pull the plug on the Dollar.