THE THREAT OF NATIONAL INSOLVENCY

Phil Bulfinch writes:

WHERE IS THE GOLD AND THE MONEY? 

The Lone Star State’s gold bullion bank designed to beat Washington’s confiscation of wealth and the Fed’s secret tax on U. S. Dollars is very interesting and something to watch as the days pass…

I viewed a cable channel documentary the other day about Fort Knox and it was disturbing what former employees and government officials said about the contents of the facility

Moreover, one of the things I kept hearing was the security efforts were higher than ever and the idea of why if there is no gold stored there? Makes my head hurt….

Nonetheless, the effort by Governor Greg Abbott who signed into law a bill to create a Texas Bullion Depository is wonderful.

Our national debt is actually a smaller part of a much larger… and far more dangerous threat…

There’s no official record of this, but the estimate is that somewhere from $958 billion to $1.5 trillion changes hands in the U.S. every month.

People buy milk and pay babysitters. They pay their mortgages and their taxes. Consumer spending alone is $11.2 trillion annually.

But there is only $1.2 trillion worth of actual dollars – physical money – in the entire world.

We can’t be entirely sure how much of that is actually here in the U.S., estimates hold that 50% to 75% of our money is in overseas bank accounts or held by foreign governments.

A lot of what’s left here in the States is called “dead money” – it’s stuffed in mattresses and safety deposit boxes…

In fact, the amount of U.S. dollars being hoarded this way – i.e., the amount of dead money – is now at an all-time high

All in all, there might be as little as 250 billion actual U.S. dollars circulating here in the United States…

And while that might seem like a lot of money, consider that a single U.S. company – Walmart – takes in nearly twice that amount in annual revenue… and that our government spends 14 TIMES that amount in just a year…

So if there’s only 250 billion physical U.S. dollars in this country… where are all those trillions of dollars coming from?

Let me remind you that those physical U.S. dollars are America’s only legal money – or “tender.” There is no “digital dollar” (at least not yet)… and the average Joe isn’t buying his groceries with Bitcoins…

One explanation is that people are just spending a lot… so that $250 billion gets transferred around so much that at the end of a year, you see trillions changing hands…

Only that can’t be possible…

This is called “monetary velocity.” And you can measure it.

And right now monetary velocity is at its lowest point in history.

People aren’t spending that $250 billion in actual US dollars… it’s staying put in those mattresses and safety deposit boxes…

So people are spending something else…credit!

Our credit system is insolvent…and when it fails… which it will surely do… it could wipe out more wealth than any other crisis in history…

To put that in context, $10.2 trillion vanished during the financial meltdown of 2008…but this likely crisis will wipe out SIX TIMES that amount…

On a Friday in 2008 at 11 a.m. the Federal Reserve had noticed hundreds of billions of dollars starting to disappear from the American economy…

A massive loss of faith in the system had prompted big players to get their money out while they still could…

In response, the government began injecting money… billions… trying to “liquefy” the system… and watched helplessly as it vanished without a trace.

Congressman Paul Kanjorski remembers panicked meetings with Secretary of the Treasury Hank Paulson and Chairman of the Federal Reserve Ben Bernanke behind closed doors in Washington that day… Kanjorski would later admit that if not for one last-ditch effort…the entire United States of America would have gone dead in the water by 2 p.m. that afternoon…

Former Federal Reserve chairman Alan Greenspan said “Unless we come to grips with this problem… I’m afraid we’re going to run into some kind of political crisis…”

From the link to the original article you provided I further note this:

When Germany tried in 2012 to withdraw a fraction of its gold reserves from the Federal Reserve Bank in New York City, we documented, it was told that this would require at least 7 years. German officials were not allowed to audit, or even to see, their gold deposits, and eventually gave up. The government has refused all requests, even from Congressman Ron Paul when he chaired the subcommittee overseeing it, to audit how much gold remains in Ft. Knox.

It seems to me that President Obama’s push to impose a “cashless” society of digital transactions that are all trackable and taxable, a road to serfdom, surveillance and income redistribution is just the “Mark of the Beast” foretold in the Bible.

Our credit economy is no different…the rules still apply… credit is not real money…and many, many Americans are about to learn this eternal truth the hard way.

The article you referenced in your email raises further concerns about what a prudent person should be considering when faced with the above events…

“When we came in the union in 1845, one of the issues was that we would be able to leave if we decided to do that,” said then-Governor Rick Perry, another depository supporter, in 2009. “It’s codified, anytime Texas wants to pull out of the union it can instantly,” Gov. Perry has said. “That’s the treaty, it’s on record.”

Texas seceded to join the Confederacy and was brought back into the Union. We need to remember, however, that from 1836 until 1845, Texas was its own country and had diplomatic or trade relations with Belgium, Denmark, France, Great Britain, the Netherlands, the Russian Empire, the short-lived Federated Republic of Central America and Republic of Yucatan….and the United States.

If Texas became a nation again, it today would be the 10th largest economy in the world, bigger than Canada, with a Gross Domestic Product of approximately $1.648 Trillion. With its Republican-run, pro-free enterprise government, Texas has produced one-third of all the new American jobs for which President Obama claims credit. Texas continues to be a powerful magnet, drawing in overtaxed businesses from more liberal states.

If the Texas Bullion Depository creates an independent sound money and sound banking system that cannot be dragged down by debased Fed dollars or the Federal Government, this would expand Texas’ opportunities for secession – which in 2014, according to Reuters polling, roughly one in four Americans approved – or for increased success and prosperity.

The article further asks the question:

Could it be Texas will lead the charge to restore financial freedom – by liberating us from the tyranny of the Federal Government and Federal Reserve’s fiat paper money system? We hope so!

Citizens really need to get rid of members of the current Congress as well as the imposter-in-chief sitting in the White House, and get this fixed as best it can be for when the credit/petro dollar crash does come…

Could this be why Google is blocking your email?

Regards,

Phil Bulfinch