(Zero Hedge)—With soaring deficits, soaring debt, and interest payments that can only be made by issuing a debt-based currency on which even more interest will be due, the USD can only possibly be described as an elaborate nation-state level bankster Ponzi scheme.
Dollars are backed by debt, which requires infinite economic growth to service.
Without constant inflation to erode the debt’s value, transferring wealth from savers to the government and bankers, it all falls apart.
Without new borrowers to sustain current spending, it all falls apart.
Without a petrodollar system where the USD is no longer the world reserve currency, and other countries no longer are forced at gunpoint to use dollars, it all falls apart.
Just as a Ponzi scheme collapses when enough investors lose confidence in it, because there’s no underlying value and not enough new suckers to pay back previous waves of investors, the USD collapses under the same scenario.
And while I see the surface-level, superficial appeal of president-elect Donald Trump’s plan to replace the income tax with tariffs, there’s (at least) one very big problem. We’re in a country that, for decades, hasn’t had a manufacturing base, making the economic viability of the plan incredibly questionable. Even if it somehow worked, it wouldn’t solve the problem of the world’s largest economies being based on glorified, state-sanctioned Ponzi schemes.
Until we revert back to dollars that are pegged to something of real value, like gold, the scam will continue. And it’s gone on for so long that tremendous economic pain is now a prerequisite for weaning ourselves off of it. Just as a Ponzi scheme collapsing harms everyone unlucky enough to be involved, the unwinding of the petrodollar USD Ponzi will hurt every American and, indeed, people all around the world as it reels under the chaos of the realization that the dollar was hollow all along, and the line of new suckers to buy US debt has officially dried up.
With 10-year Treasury yields rising and major pressure on interest rates to go higher, the Fed and Trump are desperate to keep them low. But at $35 trillion, our debt bomb isn’t going away, and the deficit isn’t going anywhere. A heavier interest payment burden and QE are going to blow the USD Ponzi balloon bigger and bigger, so the only question will be when it pops.
Painful as the explosion will be, it’s unavoidable and necessary, and will only be more severe the longer the Ponzi goes on. Just as more investors get hurt, and more spectacularly so, when a Ponzi is able to grow larger, the US dollar collapse will be more painful the longer the can is kicked down the road. This reset will be an opportunity to go back to sound money, but as in the 2008 crisis, the same elites that caused it will try to exploit it as an opportunity to implement an increasingly centralized system that gives them even more control.
Unfortunately, we’re past the event horizon for the Ponzi. Past the point of no return. No amount of economic tinkering, even of the right sort and on a big-enough scale, from Trump or anyone else, can reverse or solve the problem without a major implosion causing terrible pain across the economy. Gold is one way to protect yourself from the fallout, but when it comes crashing down, no one will be immune to the effects of such a spectacular burst.
At Last, a Company With Integrity in the Gold IRA Industry
For several years, I’ve been vetting out precious metals companies in search of the best. I believe in gold and silver but it’s hard to find integrity in the Gold IRA industry. The vast majority operate with shady tactics and gigantic spreads that take advantage of Americans who simply want to protect their life’s savings.
I’ve found a handful that I like and I’ve worked with some of them. By no means would I “unrecommend” them because, again, I vetted them out and found them to be above the fold. Unfortunately, it isn’t hard to be better than the rest when the rest are so darn awful.
After years of searching, I finally found a company that truly operates with integrity. Augusta Precious Metals has three important attributes that set them far above the competition:
- Non-Commissioned Sales Team: I cannot stress how important and unique this is. With just about every other company in the Gold IRA industry, the sales teams make commission from every account they open. This means they steer their clients toward the gold and silver products with the highest commission. With Augusta Precious Metals, the team is solely focused on putting the best gold and silver for their clients into their IRA. They get paid to serve the best interests of the Gold IRA client, NOT their own commission pay.
- Incredibly Low Fees: Most Americans would be shocked if they knew the spread other Gold IRA companies charge. Augusta charges just 5% versus up to 45% elsewhere.
- No Pressure, No Gimmicks: There’s an understanding among most in the Gold IRA industry that fear and pressure is the way to go. Augusta Precious Metals takes a sober approach when working with clients because they hold integrity in the highest possible regard. This is why they don’t offer gimmicks like “free” or “bonus” silver. It’s also why they do not apply pressure tactics to get quick sales. Their educational and transparent approach to doing business is exceedingly rare in the Gold IRA industry.
Dear Genesis Gold Group,
Jesus kicked the money-changers out of the temple.
Just because your company calls itself Christian does not make it so.
I assume your company charges a fee for converting dollars to gold.
In essence, you are “changing money”.
When banks charge interest on loans, it is called “usury”.
Usury is frowned upon in the Bible.
Christians are not supposed to charge interest, or fees for changing money.
Making money off of money changing is not “work”.
So it is a dishonest practice. If you are doing this, you are not “Christians”.
I would like you to explain to me, how you can call yourself a Christian company, when your practice of usury is against what it says in the Christian Bible about usury. It is disallowed in the Bible.
You extract a fee from the practice of handling a transaction, you change the dollars into gold, at whatever the current value is, please tell me how this is not usury, please tell me how you have done any actual labor that justifies your fees, because all the calculation of how much gold is exchanged for dollars is done by computer, you don’t even use your brains to add it up, it seems to me that you are using Christianity as a ruse to suck people in, and “employ” your assistance in something that people could easily do on their own, you are operating under a false premise, charging money to handle money, which is against what the Bible teaches, and so I am really curious as to your response.
I agree with your article that the U.S. dollar is a Ponzi scheme, the same goes for Crypto-currency, as it is based upon dollars, which are not based on gold or anything else at the moment, but it seems to me that you are participating in the Ponzi scheme, while extracting payment through usury, while at the same time claiming to be Christians, and additionally I don’t see how you do any actual work to justify the fees that you charge. Unless you consider sitting on your fat @$$ counting money to be actual “work”, which I, as a lowly Christian Carpenter do not. I would really appreciate an honest answer from you, because from what I can see, your reference to yourselves as Christian is in error, and as such your advertising based on this claim is fraudulent and misleading. Thank you, Sincerely, Rob in MN.
…The US Dollar is actually a piece of paper with ink on it…a one dollar bill and a one hundred bill are the exact same size…nearly the same weight…made out of the same type of paper…and yet one is worth 100 times as much as the other…why is that ?…not because it is redeemable for actual silver or gold…not that it has any intrinsic value…so what keeps it so highly sought after ?…well it is very simple…there are three reasons the ‘dollar’ has any value at all…(1) buyer confidence…(2) political stability (3) traditional bargaining power (or the illusion of such) using credit as a means of purchases unaffordable for full purchase price at time of transaction ( a so-called ‘promise to pay at a future date’ )…eliminate any one of these three historically reliable dynamics and its a house of cards falling apart and what a mess it would be…
The US Dollar is actually a piece of paper with ink on it…a one dollar bill and a one hundred bill are the exact same size…nearly the same weight…made out of the same type of paper…and yet one is worth 100 times as much as the other…why is that ?…not because it is redeemable for actual silver or gold…not that it has any intrinsic value…so what keeps it so highly sought after ?…well it is very simple…there are three reasons the ‘dollar’ has any value at all…(1) buyer confidence…(2) political stability (3) traditional bargaining power (or the illusion of such) using credit as a means of purchases unaffordable for full purchase price at time of transaction ( a so-called ‘promise to pay at a future date’ )…eliminate any one of these three historically reliable dynamics and its a house of cards falling apart and what a mess it would be
NO..
US Government spending is the pozi scheme. And YES, it could collapse.