People laugh when I say this but the truth is government is working to devalue our dollar.
Why would they do this?
Many European Countries such as Spain, Greece, Portugal and Italy are in deep financial turmoil. On the other hand Asian countries are faring well, especially China. As we know the US is borrowing billions of dollars from them. Some say China owns more of the US than we do.
Many people look at our debt at around $16 trillion when in reality it stands at about $138 trillion.
- 16 Trillion Dollar National debt
- 5 Trillion Dollars to foreign investors
- 1 to 2 Trillion Dollar health care
- 114 Trillion Dollars - Social Security, prescription drugs, Medicare, etc.
- 2 Trillion Dollars Federal Deficit
What could that currency be? The China Yurn.
While we have been wasting our money China has become an empire. They have more troops than we do. While Obama is getting rid our our nuclear weapons they are adding to theirs. Their young people are better educated than ours and they have computers that run so fast our Defense System can't hold a candle to it.
If our government can run us into bankruptcy China could come in and buy us out for hypothetically 25 cents on the dollar. This would let us pay our debt off at 25% or 75% less.
A number of countries are already calling for the end of the Dollar.
People in China can now own gold, land and buy homes. The rich see this. Last year alone around 1800 million and billionaires gave up their citizenship then moved to foreign countries where taxes weren't sky high.
Where does this leave us?
Assume China becomes the World Power and Currency we could find ourselves living in a broke country where Big Government can control our lives. Economists say China could possibly try to make this happen within the next 6 months to 2 years.
I was on the phone to a business man in California who said he was going to have to move. With Obama's Health Care and new taxes he would be paying around 40% to federal taxes. He also pays 11% State Tax and Governor Jerry Brown wants to raise that to 18%. On top of that he pays about 10% Sales Tax. By the time Obamacare kicks in he will have no choice but to close his doors and lay off his employees.
Obama's Health Care Bill has over 20 new taxes hidden in it.
This is not a pretty picture to paint. With the increased taxes put on us we could wake up to find ourselves bringing home 25 cents on the dollar. That's not to mention your life savings could be deflated to pennies on the dollar.
Welcome to a Third World Country!
You have heard my opinion - Now let me hear Yours!