We are nearing the historic event. The US FED will be bankrupt in a few days/months and the US is going down with it. From the day we launched this public service to let the common users out there know the truth, we have unequivocally and fervently tried to put the truth out there. We as a fund had no obligation to launch a free site to let the people know, but we wanted our consicience clear as the ones who knew the truth and yet did not share it.
The fact is that the US is going bankrupt second by second and the FED is nearly history. These are the last few days. I had stated in a few posts early on that one of the first signs of FED going down is banks not being able to furish the withdrawal requests and reasons being attributed to computer glitches and so on. Well its happening….
First some facts:
$11 trillion is the total debt that US owe. Out of this $6trillion is what US owe to other nations. US GDP currently is nearly $11 trillion. Unemployment is 9.8% officially but it is nearly 22% unofficially. Out of 8400 FDIC regulated banks, 1800 are sure to fail and go bankrupt. The cost of such bankruptcy is anywhere between $2-4trillion. There is not a penny left in US coffers to pay this money which means people who own dollar assets in these banks will lose their hard earned money. (You can check the truth on my previous post 1800 Banks to fail )
Now that we are clear of the general facts about the economy and banking lets get to the more important stuff…..The News…
Rest of the article at: here