The US empire seems to be repeating all the mistakes that empires before it has made. I've recently brushed more up on monetary history details, and it becomes clear that the US is doing what The Greek Empire, The Roman Empire, multiple Chinese Empires did from 1000'-1600's. The French during the Mississippi bubble and the French Revolution. The British Kingdom and many more.
Their government has accumulated mass amounts of debt. Printing lots of currency, having a vast military and having a big government with lots of corrupt politicians and bureaucrats. The US has also heavily financialized the economy like the French and many before them. When you get to the point in any fiat economy where inflation is high, and you need to financially engineer the financial assets to be able to create a return that beats the inflation instead of innovation and RND by businesses.
The global economy has failed with the US Federal Reserve at the centre. The US has been shipping all of its debt overseas. With China, Japan and Ireland.
About $6T of US Government bonds is held offshore. Here are the rest of the US Bondholders:
Entity U.S. Debt Held (Billions)
Foreign/International $6,154.9
Federal Reserve $2,490.6
Mutual Funds $1,524.8
State and Local Gov'ts (incl. pensions) $899.4
Banks $620.3
Private pension funds $549.1
Insurance Companies $344.8
U.S. Savings Bonds $165.8
Other $1,449.1
These numbers are from September 2016, and since then there has been an additional $2T+ created through US Deficit spending. While the US will continue to ramp up, it's deficit spending with over $210T in Unfunded liabilities. That is money promised to the population in different welfare programs like social security. This money is rapidly coming due as more and more people are retiring.
There is also a move away from using the US Dollar for trade by other nations. Here is a list of the many countries who have chosen to get away from using the US dollar in global trade. http://www.primevalues.org/gctb-countries-phasing-out-us-dollar.htm#.Wta4CojwbIU Countries like Iran, Venezuela-Russia, Australia-China, China-Brazil and China-Japan bilateral trade agreements show how the world sees the US Empire has ended and are trying to restructure the society of trade using their currencies for trade. Of course, China has also started to trade Oil Futures as well last month on the 26th of March.
There is not only the world that is losing faith in the US Dollar more and more people living in the US itself is starting to see the dangers of the failing US Dollars. With potential $6T of foreign Central Bank held Bonds flooding into the US economy the US is headed for a default/hyperinflation. But before that, the US is more likely to have massive deflation from the mass defaulting of debt obligations by many State and City governments. That's on top of the US Federal debt issues.
With debt being used to prop up the US economy more and more states are smelling the problems of Bond sewage sloshing around in the US. They have not only a Government debt problem, but also a personal debt problem.
With countries like Japan and Russia selling off their US debt holdings, there are more risks to come as the US needs to print more currency to keep their government alive.
There is not only US government debt, as shown above, there are over a Trillion in Student Loan debt and also US auto loans. People in the US is heavily indebted, and the banks have been taking advantage. With banks creating debt derivatives amass. From Auto Backed Securities(ABS), Collateralized Debt Obligations(CDO), Collateralized Loan Obligations(CLO). These are used by banks to hide the bad loans off their books in Corporations called SPE and SPV's. They have also had the FED bailing them out buying Almost $2T in Mortgage Backed Securities from the last crisis to keep the banks afloat.
The only real protection for US citizens will be the good old wealth insurance metals gold and silver and other precious metals, commodities like food and water and cryptocurrencies. Anything that is on the outside of the US financial and monetary system will save you. It is, of course, my opinion, but don't believe me and do your due diligence as I'm pulling historical data from other currency collapses throughout history.
Peace, Love and Voluntaryism,
John
The Japanese have already started diversifying away from the US by dumping bonds, but once the Chinese start, it will be a landslide. It's only a matter of time.
Actually did a video on that last week. Japan and China has been the biggest bond holders and just one of them selling half could potentially take down the US economy.
Great work John. Fiat empires also continually need to expand crushing smaller nations to feed the value of it's fiat by enslaving larger populations to it. The fiat empire eventually falls when there are not enough easy targets of conquest remaining.
Yes, The best example was the Roman Empire and also the Yuan dynasty.
This is a great post! I'm glad I just found you. I look forward to reading more of your articles. The human nature aspect is fascinating. Fiat empires are doomed because there can never be the self-discipline needed to maintain the fiat's value. The US government and many of its state and local governments simply cannot seem to stop spending more money than their economies will ultimately support.
Yes, its too much of a rinse and repeat cycle throughout history and you are so true about the human nature of self-dicipline that fails with the fiat systems :)
Great report . And just a side note to you two guys to show what a bunch of thieves these banksters are . Here in northern Illinois and southern Wisconsin area most of the ATMs are either gone or charge an outrageous amount of money to get to your money . I know Josh is in the background saying “if your money is in the bank its not your , its the banks” And I agree , but my point is that we bailed out these scumbags and they don’t even have the decency to give us a break on ATM fees . Its really ridiculous , and to add insult to injury the don’t employ as many people at their branches , and instead of tellers now they have a robot 🤖⁉️ It just looks like a bigger atm and does just a little more . I wanted to take a picture of it , but they wouldn’t let me ❓🤫 CREEPY hum ❓Great report 👏👍
I know there is an underlying push towards cashless. This is an interesting move to restrict ATM's. As US still are having an increase in cash in circulation. But it makes sense to withhold the populace from cash by limiting accessability. If you can do a little more of research on it I wouldn't mind to write a bit about it in an upcoming book I am currently writing on the past, present and future of money :) Thanks for the insight and it make sense from what I've read. Here is a recent Steem article I posted on Cashless.
https://steemit.com/money/@theeconomictruth/the-future-of-money-how-cash-and-crypto-can-save-you-from-total-enslavement
It is the cycle of every empire and nothing is permanent and sustainable in this world.
Ive made this prediction and I believe sometime in Trumps 8 years as president he will reinstate the gold standard back into the USD. We shall see...
Do you still believe in Trump, seriously? idk what to say.
Yeah, give it time and you will see hes the real deal.
Any state ran gold standards throughout history has been misused and over printed :)