No longer deniable: Under runaway debt burden, America's currency is headed for total collapse

Tuesday, July 26, 2011 by Mike Adams, the Health Ranger Editor of NaturalNews.com (See all articles...) Tags: national debt, financial collapse, health news

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(NaturalNews) Treasury Secretary Tim Geithner recently told FOX News, "We write 80 million checks a month. There are millions and millions of Americans that depend on those checks coming on time."

That quote, all by itself, tells you just about everything you need to know about what America has become and why it's now headed for certain economic collapse. In a nation that once began with the idea that government should stay out of the way and leave people alone to create their own abundance through hard work and private savings, we now have horrifyingly transformed into a nation of 80 million dependants who need their government checks each month just to survive.

And why does the government "owe" all these people their benefits such as social security? Because the U.S. government confiscated that money from the people by skimming it off their paychecks, year after year, and then promising all the workers they would eventually get that money back.

That was all a Big Government lie, of course. Social Security was the greatest financial con ever perpetrated on the American people. It's really just Big Government saying, "We'll force you to give us your money, and then we'll spend it all, and we'll somehow promise to pay you back someday." Except that for tens of millions of Americans who have paid into social security like me, we are unlikely to ever see a dime of that money because the government is going to financially implode well before we ever reach the benefits age.

The financial blowout of the world's greatest debtor nation

You see, even while the government was promising it would pay back all the money it stole from workers, it was simultaneously conspiring with the Federal Reserve to devalue the dollar and thereby erode the actual purchasing power of the "benefit checks" people receive. Since the Federal Reserve took control of the U.S. money supply in 1913, the U.S. dollar has lost 97% of its value, didn't you know? (http://www.lewrockwell.com/orig11/clark-j29....) And the remaining three percent is about to vanish in one final grand blowout of the world's greatest debtor nation known as the United States of America.

A recent review of the actions of the Federal Reserve, for example, reveal that this rogue organization created $16 trillion in new money and then handed it out to banks around the world (http://www.unelected.org/audit-of-the-federa...). Here's just a partial list of the top recipients of all this new money:

Citigroup: $2.5 trillion ($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)

Are you getting the picture here? The Federal Reserve is DEVALUING the dollars you hold (and earn) by creating NEW money (by the trillions) and handing it out to the world's richest banksters! (Did you notice they never create money and hand it to YOU? It only goes to the wealthy elite...)

This action is directly causing the price inflation you see right now on all the products and services you buy every day. Have you noticed how much food prices have increased lately? It's also car prices, home rental rates, construction materials and hourly service fees. So by pumping new money into the hands of rich banksters, the Fed is effectively stealing purchasing power from YOU and everybody else holding U.S. dollars or U.S. debt.

This is the greatest financial swindle of the century. (Most people don't realize that because they don't understand the dynamics of money creation and dilution of the global money supply. All they know is everything keeps getting more expensive and they don't know why...)

Why there will be no financial solution from Big Government

Despite what you hear in the mainstream media, there is no August 2nd solution to our nation's debt problems. As Ron Paul (www.RonPaul2012.com) has correctly stated, the U.S. is already in default on its debt because, through "quantitative easing" schemes, it has created tens of trillions of dollars in fake currency (fiat money) and pumped it into circulation, thereby devaluing all the U.S. debt held by other nations.

The cliche phrase, "Rearranging the deck chairs on the Titanic" has been tirelessly recycled on this very issue, so let me state in another way what Obama, Boehner and Geithner are actually doing. They aren't even rearranging the deck chairs; they're tap dancing on top of the deck chairs in a classic Vaudeville performance to try to put on a good show while the ship goes down.

Whether they come to any agreement on raising the debt ceiling is irrelevant. That the U.S. has reached the point where it has to mail out 80 million checks a month just to keep the population economically alive -- and where it now has to print a few trillion dollars every quarter just to buy its own debt -- should prove to any intelligent observer that the total financial implosion of America is inevitable. The U.S. has passed the point of no return and has devolved into a nation of government dependants who worship the entity that hands them their monthly check, even as that check is worth less and less with each passing month. (The whole ugly scene is quite pathetic, actually, that people aren't marching in the streets right now and demanding honest money!)

The buying of our own debt is in addition to the $16 trillion in new money creation I mentioned earlier. New debt spending is the reason why additional trillions being thrown at the problem, much like firefighters throwing gasoline on a burning building to try to put out the fire. (Timothy Geithner is often and correctly referred to as an "arsonist.")

Global investment banks, you see, have almost completely stopped buying U.S. debt. So the U.S. has been forced to buy its own debt, using debt money. This is the national equivalent of paying off your credit card by taking out a high-interest cash advance from that same credit card. What Obama and Boehner are arguing about is whether we should keep borrowing money in order to spend it, not whether we should end the whole insane practice and get out of debt in the first place.

Let's all smoke our way out of a crack addiction

Insanely, Obama and many members of Congress (mostly on the Democratic side, but also a few Republicans) have come to the conclusion that the only way to solve our debt problems is to spend more debt money. This is like a bunch of crack-heads getting together and deciding they're going to smoke their way out of their crack addiction. Doesn't 80 million checks a month already tell you that government is far too big in America today? How on Earth could a bigger government spending even more debt money possibly solve this massive debt problem that Big Government caused in the first place?

Let me be blunt with all the people receiving these 80 million checks each month: You'd better get ready for those checks to stop, folks! I hope you're shoring up your savings, buying gold and silver, and stocking up on preparedness supplies. Because the day is coming when the U.S. government either cannot print these 80 million checks or, even worse, they still mail out the checks but the dollars themselves are virtually worthless. "Look, grandma, you got your social security check! What do you want to spend it on this time; a loaf of bread, or a cup of coffee?"

The goal of the Federal Reserve has always been to loot the U.S. economy and steal our wealth

We are witnessing, in accelerated time, the total financial implosion of an empire. We're watching it burn right before our very eyes, and it was all set in motion in 1913 with the creation of the Federal Reserve, of course.

The goal of money creation has always been to loot the economy and transfer wealth from the hands of the workers to the pockets of the rich bankers. For nearly ninety years, this was all done quietly and gradually, but today it's being done aggressively and right out in the open. $16 trillion has just been stolen from the American people (and U.S. debt holders), and trillions more are on the way. QE3 will be followed by QE4, then QE5 and QE6, each adding trillions more to an accelerated financial implosion that will leave the U.S. dollars virtually worthless.

This day is coming. We've been warning about it here on NaturalNews since at least 2008, when I held a phone seminar and warned people to buy gold and silver. (At that time, gold was in the $600 range. Today it's $1,600...) Actually, I'm on the record warning people about the dot-com bubble before it popped, and about the housing bubble before it popped, too. Now I'm warning about the coming collapse of the dollar, which now even mainstream people are beginning to see as a possibility. Even Obama himself said we need to increase the debt ceiling to avoid what he called, "Financial Armageddon." (http://thehill.com/homenews/administration/1...)

A few months ago, I published a new, updated course on financial preparedness called Be Prepared, Not Scared, which teaches you how to protect yourself against the coming economic storm. You'll find details on that course at: http://premium.naturalnews.tv/Be_Prepared_No...

Now, more than ever, we all need to get prepared for what's undeniably headed our way. I hope you're all taking this seriously. When the dollar implodes in value (or is abandoned by the world), how will YOU buy stuff? What will your government check be worth then?

Your own government, you see, is stealing from you -- and it's totally getting away with is because the American people have become so pathetically enslaved by the system that they don't even realize the system is working against them.