Best of the Week
Most Popular
1. Dollargeddon - Gold Price to Soar Above $6,000 - P_Radomski_CFA
2.Is Gold Price On Verge Of A Bottom, See For Yourself - Chris_Vermeulen
3.Dow Stock Market Trend Forecast 2018 - Nadeem_Walayat
4.Gold Price to Plunge Below $1000 - Key Factors for Gold & Silver Investors - P_Radomski_CFA
5.Why The Uranium Price Must Go Up - Richard_Mills
6.Dow Stock Market Trend Forecast 2018 - Video - Nadeem_Walayat
7.Jim Rogers on Gold, Silver, Bitcoin and Blockchain’s “Spectacular Future” - GoldCore
8.More Signs That the Stock Market Will Rally Until 2019 - Troy_Bombardia
9.It's Time for A New Economic Strategy in Turkey - Steve_H_Hanke
10.Fiat Currency Inflation, And Collapse Insurance - Raymond_Matison
Last 7 days
Gold – “Make Me Feel Good…Tell Me Anything” - 25th Sept 18
Sector Rotation Continues. Bullish for Stocks - 25th Sept 18
Whose Trillion is it Anyway? US Federal Government Shocker! - 25th Sept 18
Focus on the Stock Market’s Price Action and Ignore the Failed Hindenburg Omen - 25th Sept 18
5 Problems All Restaurant Owners Will Face - 25th Sept 18
Gold Price Trend Forecast 2018 - Video - 25th Sept 18
How the US Dollar Penalizes Emerging Asia - 24th Sep18
Stock Market Macro/Macro View: Waves and Cycles Part II - 24th Sep18
DJIA Makes New High  - 24th Sep18
Gold Price Trend Forecast 2018 - 24th Sep18
The Stock Market Has Been Exceptionally Strong this September. What’s Next for Q4 2018 - 24th Sep18
Gold / US Dollar Inverse Trend Relationship Video - 23rd Sep 18
US and Global Stocks, Commodities, Precious Metals and the ‘Anti-USD’ Trade - 23rd Sep 18
Gerald Celente Warns Fed May Bring Down the Economy, Crash Markets - 23rd Sep 18
Top 3 Side Jobs for Day Traders - 23rd Sep 18
Gold Exodus to Reverse - 22nd Sep 18
Bitcoin Trader SCAM WARNING - Peter Jones, Dragons Den Fake Facebook Ads - 22nd Sep 18
China Is Building the World’s Largest Innovation Economy - 21st Sep 18
How Can New Companies Succeed in the Overcrowded Online Gambling Market? - 21st Sep 18
Golden Sunsets in the Land of U.S. Dollar Hegemony - 20th Sep 18
5 Things to Keep in Mind When Buying a Luxury Car in Dubai - 20th Sep 18
Gold Price Seasonal Trend Analysis - Video - 20th Sep 18
The Stealth Reason Why the Stock Market Keeps On Rising - 20th Sep 18
Sheffield School Applications Crisis Eased by New Secondary Schools Places - 20th Sep 18
Precious Metals Sector: It’s 2013 All Over Again - 19th Sep 18
US Dollar Head & Shoulders Triggered. What's Next? - 19th Sep 18
Prepare for the Stock Market’s Volatility to Increase - 19th Sep 18
The Beginning of the End of the Dollar - 19th Sep 18
Land Rover Discovery Sport 'Approved Used' Bad Paint Job - Inchcape Chester - 19th Sep 18
Are Technology and FANG Stocks Bottoming? - 18th Sep 18
Predictive Trading Model Suggests Falling Stock Prices During US Elections - 18th Sep 18
Lehman Brothers Financial Collapse - Ten Years Later - 18th Sep 18
Financial Crisis Markets Reality Check Now in Progress - 18th Sep 18
Gold’s Ultimate Confirmation - 18th Sep 18
Omanization: a 20-year Process to Fight Volatile Oil Prices  - 18th Sep 18
Sheffield Best Secondary Schools Rankings and Trend Trajectory for Applications 2018 - 18th Sep 18
Gold / US Dollar Inverse Correlation - 17th Sep 18
The Apple Story - Trump Tariffs Penalize US Multinationals - 17th Sep 18
Wall Street Created Financial Crash Catastrophe Ten Years Later - 17th Sep 18
Trade Wars Are Going To Crash This Stock Market - 17th Sep 18
Why Is Apple Giving This Tiny Stock A $900 Million Opportunity? - 17th Sep 18
Financial Markets Macro/Micro View: Waves and Cycles - 17th Sep 18
Stock Market Bulls Prevail – for Now! - 17th Sep 18
GBPUSD Set to Explode Higher - 17th Sep 18
The China Threat - Global Crisis Hot Spots & Pressure Points - 17th Sep 18 - Jim_Willie_CB

Market Oracle FREE Newsletter

Trading Any Market

My New Year's Resolution: Don't Confuse Debt with Wealth

Stock-Markets / Financial Markets 2016 Jan 07, 2016 - 06:00 PM GMT

By: MoneyMetals

Stock-Markets

Guy Christopher writes: If you don't have a magical crystal ball to see the future, then a good history book will do the job. Understanding the past offers a full color panorama to the dangers and opportunities facing you in 2016.

Unpayable debt is becoming the Big Story of the 21st Century across the globe. Life-altering disruptions will be the norm, with little that mankind has not seen before.


In early November, Congress recklessly increased American spending and debt by another $1.14 trillion. Lawmakers long ago erased all limits to printing money and creating debt backed by nothing. The total world debt is unknown and uncountable. Pick any figure in the hundreds of trillions and you'll be close.

Governments intend for you to pay those debts. To ensure you don't argue, they must increase control.

In the historic cradle of democracy, Greek citizens woke on New Year's Day staring at a 56-page "assets declaration" form, a record for the tax man of everything owned above a certain value.

After a roller coaster 2015 of violent demonstrations, Greeks voted a landslide mandate to stiff their European debtors in favor of starting over and going it alone.

In a treacherous betrayal, Prime Minister Alexis Tsipras caved to European bankers, ignored election results and put his people on a well-oiled slippery slope of perpetual indebtedness.

"Assets declaration" is not a new idea, as anyone facing bankruptcy would know. Everything from real estate, cash and jewelry, down to the kitchen cups and saucers, must be listed for the courts to divvy up.

But this isn't a case of personal bankruptcy. The Greek government, mired in debt for the next hundred years, has transferred its own bankruptcy reporting obligations to its citizens, amounting to legal repudiation of private ownership and private wealth.

Private wealth is a cornerstone of personal liberty. As explained in Money and Wealth in the New Millennium, the two go hand in hand, even as government continues to redefine debt as wealth.

Gold is the money of kings, silver the money of gentlemen, barter the money of peasants, but debt is the money of slaves ~Norm Franz

Yes, Greeks have an international reputation for tax avoidance. But targeting all private property goes far beyond "paying a fair share." It's a clear sign of modern times that bankrupt governments will stop at nothing to protect themselves at the expense of their people.

China has found social media snooping fits perfectly inside the long accepted template of debt and credit reporting - and helpful in identifying political undesirables.

China's new Sesame credit score

China's new "Sesame Credit" score, now used to evaluate debt histories, and even used in online matchmaking, will ultimately combine political and personal views to transform meek political compliance into an "asset" - social reputation.

China's Sesame Credit score weighs how "compliant" a citizen is, assigning lower credit scores to dissenters.

China has smartly turned conformity into a smiley face with a number value. But China is just playing catch up to other old ideas.

Americans already value their individual FICO and credit agency ratings. National advertising campaigns, paid by the financial industry, praise indebtedness by glorifying credit scores.

The less debt you assume, the lower your score. Cancel a credit card, and your score will drop. It's preferred instead you dive right in, so you won't mind at all your government is also in debt!

The strategy goes beyond selling you junk you don't need. The intention is to create pride in indebtedness - to further confuse debt with wealth. Along the way, it makes the financial habits of consumers and voters transparent to government snoopers.

Americans (and others) have already done the bulk of government's work with self-inflicted online postings, using Facebook and other social media to forever publicly record what used to be valued private opinions and beliefs.

History has taught many lessons about bankrupt governments. As they fear losing control, they tighten the reins on citizen liberties. Standards once meant to keep civilized order are now exploited to instill tranquil compliance.

Just as bankrupt governments treacherously turn on their people, they will also turn on each other. Some recent examples:

  • American allies are fleeing the U.S. petro-dollar's pipeline in favor of China's (and Russia's) growing economic influence.
  • Governments are furiously printing money as the only way to finance unpayable debt.
  • Those same governments are conducting a war on cash, designed to herd all financial accounts into one big digital corral for easy harvest.
  • Washington, after promising to stop tapping foreign leaders' phones, has been caught still eavesdropping on Israeli leaders, and listening in on congressmen.
  • Most telling, American allies are demanding the return of their gold kept in the U.S. for safekeeping.
  • Governments keep their gold dealings secret, because, as none other than former chief money printer Alan Greenspan admitted, gold is the most important currency of all.

Financial and intellectual deception sweeping the globe defines the last dying gasps of corrupt and bankrupt governments.

Our crystal ball of history shows as governments lose control, fearful citizens will first resist, then rebel.

To defend ourselves, we strengthen our families and local communities, vote in coming elections, and fight for basic human freedoms of speech, religion and the right to defend ourselves. And, like Norm Franz and others, we can reject the notion that debt is wealth... or that debt buys freedom.

Gold and silver have stood for centuries, untouched, unmatched, as the best stores of private wealth, a cornerstone of freedom. You can take history's word for that. Or Alan Greenspan's.

Centuries of faith in gold and silver isn't a new idea at all.

By Guy Christopher

MoneyMetals.com

Guy Christopher is a columnist at Money Metals Exchange, perhaps the nation's fastest-growing dealer of low-premium precious metals coins, rounds, and bars. Siegner, a graduate of Linfield College in Oregon, puts his experience in business management along with his passion for personal liberty, limited government, and honest money into the development of Money Metals' brand and reach. This includes writing extensively on the bullion markets and their intersection with policy and world affairs.

© 2016 CGuy Christopher - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules