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Debt Relief – Insolvency – Bankruptcy Information » Insolvency » Crash Course: Chapter 13 – A National Failure to Save (2 of 2) by Chris Martenson

Crash Course: Chapter 13 – A National Failure to Save (2 of 2) by Chris Martenson


Chapter 13 (A National Failure To Save – Part 2 of 2): “The next twenty years are going to be completely unlike the last twenty years.” — Dr. Martenson. Chapter 13 begins his explanation for this deeply held belief. On every level of our society, there has been a failure to save. Individuals, cities, counties, states, and corporations have all failed to save, but, more importantly, so has our federal government. Our government has pursued a reckless policy of debt accumulation, while neglecting saving and investing, leading to Dr. Martensons claim that the United States is insolvent. Insolvency, which occurs when ones liabilities exceed assets, is first step on the road to bankruptcy. www.chrismartenson.com

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23 Responses to "Crash Course: Chapter 13 – A National Failure to Save (2 of 2) by Chris Martenson"

  1. stocktradinginvestor says:
    The US government owns more gold reserve than any other country so they are hedged against their continuation of their policy. If people started only accepting gold instead of dollars, the US would still have quite a large share of the world.

    The US prints BONDS not dollars the FED prints dollars. But there is a huge demand as long as it remains the reserve currency. It most likely will not forever, but enjoy it while you can because 40% of the inflation is exported.

  2. FortNikitaBullion says:
    After watching this video I got a suggestion to watch Elton John’s Rocket Man. Apparently so many people need something to de-stress after absorbing all this bad news.
  3. cpwitham says:
    @cpwitham Gold is currently worth about $1600/oz. If it were to back all of our money it would soar to about $60,000/oz. Even 10% backing would make Gold about $6000/oz. Will this happen? I don’t know.
  4. cpwitham says:
    @fedroger Not true. If/when gold is reinstituted as the backing to our currency, it will adjust to the price it needs to. Plan accordingly.
  5. pismo10 says:
    The US will never go bankrupt, they will simply pay off debts with lesser value/worthless dollars. The treasury is never going to bounce one of it’s own checks. The fed will print the money for them. Inflation.
  6. ramblinwreck77 says:
    “the United States government is insolvent.”
  7. paulrprichard says:
    @fedroger yep you needed $250 to own 1 oz of gold back in 1997 or $1,400 in January 2010. If gold was re-priced upwards just like FDR did in 1933 would there be enough gold ? Back in 1933 you would need only $35 to own 1 oz of gold. Oh and FDR confiscated all gold owned by citizen at the time too then re-priced it upwards. Can history repeat itself ?
  8. Thewizzardof9 says:
    Investing is not savings, you have traded one piece of paper for another, you took one year of GNP and compared to 10 years of obligation.
  9. Miklus023 says:
    The poor monkey is scared shitless!
  10. ChornyiKot says:
    The U.S. Government has proven itself criminally incompetent, with no plans on changing course with successive administrations. While the Obots are busy rearranging the deck chairs on the Titanic, our ship of state has not changed course in decades. What is the moral choice? To feed the machinery of our destruction (obey immoral laws?), or go Galt, prepare yourself and in doing so, risk becoming an enemy of the state? My labor belongs to me, not the collectivists who have bankrupted us.
  11. sirellyn says:
    @perspektuv You change your money into something other than currency. Precious metals are the most obvious choice, but most other commodities will work too.

    Technically, even stocking up on goods that you know you’ll use in years from now (because they keep) will also work as a form of savings.

  12. kikrlbs says:
    I like the truck in the sinkhole about drinking water systems
  13. kikrlbs says:
    @bluzy25 The government holds no gold. Check out the audit of the treasury in 1981, the Federal Reserve owns all of the gold. The government owns zero gold, check it out.
  14. perspektuv says:
    So if you do save money, even in a pickle jar under your bed, those theives of darkness will rob you by making your money worthless. One dollar for us, a million for them?
  15. wolfgangfaust says:
    2:59 scares all monkeys. . . .
  16. RichardRoy2 says:
    Yes, the dollar has lost it’s lustre, and now, only real commodities will be accepted. We need to get real, and sound.
  17. rrcatto says:
    Sure there is. South Africa will sell you as much gold as you need, but we won’t be accepting US dollars. You will have to trade real resources for our gold. And the current gold price will skyrocket probably by a multiple of 10 or even 100 times its present value.

    Watch how the South African Rand becomes one of the strongest international currencies.

  18. 1selvatico says:
    I can’t belive I’m laughing…this is so depressing that it is funny.
  19. lymaeQ says:
    1:53 My Fellow Americans, watch me as I screw you over whatever leftover hopes of a decent future you may have left ! And you can’t do shit about it !

    That country is so broken…

  20. fedroger says:
    Scares small monkeys!!
  21. fedroger says:
    There isn’t enough gold in the world to back our debt. anyways…
  22. GULRUDJ says:
    There is none. We gave it up during the Nixon administration. The gold window was closed becuase we were about to run out.
  23. bluzy25 says:
    what about the gold the government holds?

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