The DEBT / MONEY Issue the Coming Debt Jubilee
by Peter Logan, an investment advisor
June 30, 2020
Your retirement account is in serious danger. Worries about the coronavirus outbreak have led several companies to issue warning about their revenues and profits, signaling significant drop in their share prices. As a result, the Dow is in crash territory, down about 30% from its record close– and this is only the beginning.
We are certainly in uncertain times to say the least….
We are witnessing aglobal Health, Financial and Economic crisis.
Recently the oil market collapsed. Never before have we seen the price of oil in negative territory.
Unemployment surged to 40 millionwhich means 1 in 5 Americans are out of a job….More than 4 million homeowners missed the April and May mortgage payments
Bankruptcy filings have spikedand States are running a significant budgetary deficits.
After 11 years of gains in the stock market, investors are now concerned about the recession, debt bubble, the upcoming presidential election, geopolitical turmoil in the Middle East, global economy slowdown and weakening U.S. Dollar. As such, there is a tremendous risk on your retirement accounts and savings.
There is a serious liquidity crisis in the banking system!The Federal Reserve lowered theinterest to 0%and is bailing out the Repo market (where banks borrow for overnight liquidity) with more than$1.5 Trillion dollars. Not to mention, the recent$2.2 Trillioncovid-19 Stimulus. This is an indication that 2020 will be a year of significant uncertainty and a sign of deeper problems on both the stock market and the value of the U.S. Dollar.
The debt bubble is about to burst!The U.S. national debt has reached its highest level of more than $24 Trillion. All the stimulus, shutting down the economy and loss of tax revenue, is leading to an additional $4 Trillion forecasted budgetary deficit that will push the national debt to surpass $28 Trillion.That is a definite tipping point.Not to mention both corporate and consumer borrowings are at record high.
Years ago, it was accurately predicted that the world’s largest mortgage bankers (Fannie Mae and Freddie Mac) would go bankrupt, that General Motors (GM) & Gannet newspapers would fall apart, and oil would fall from over $100 a barrel to less than $40 devastating millions in the oil industry.
Today, there’s something new and potentially terrible unfolding in America, that the worst yet to happen in the next big political event. It will be a lot worse than the mortgage crisis too. And he says no matter how sound your financial footing, this is the most important issue facing you and your money today.
“The “enslavement” of millions of Americans–and the biggest wealth gap in the history of the Western world–is leading to a political event unlike anything we’ve seen in our country in more than 50 years.”
Americans you better be ready because it will affectyou and your money.
Our nation has become a financial, cultural and demographic pressure cooker and ready to burst any minute now. We have seen it at the latest riots and protests, even at sports. While only few are to believe it’s about race, religion and politics, majority of America are certain that It has all to do with money and power. The rich are getting richer; however, the vast majority is actually losing ground especially middle class.
Americans are getting poorer and the national debt has increased to the point of no return. Therefore, comes the Jubilee. The nation is heading towards a big financial breakdown never seen before.
And with millions of Americans are calling for the government to do something to fix our economic inequalities, along calls on higher tax rates on the wealthy are just the tip of the iceberg. However, the debt is so high that no action, but the debt jubilee can be seen as the solution.
Being in debt is an incredibly stressful way to live. We owe a trillion dollars on our credit cards—which often have interest rates as high as 28%! We’ve borrowed a trillion dollars to buy new cars—which plummet in value the minute you drive off the lot. And we’ve racked up about $1.5 trillion for college diplomas with dubious worth. It’s gotten so bad, 73% of Americans now die with debt… with an average total of more than $60,000.
The debt jubilee is to take place. It is the step to “Clean the Slate”, wiping out debts and “Reset” the financial system, a move mentioned and endorsed by many of the most powerful people in Washington. It will be introduced in a disguised name such as the “National Restoration” or “Patriotic Solvency” They’ll pass it via an “Act” like they did in 1841… or invoke an Executive Order as was done in 1933 (Executive Order #6102)… or simply issue a mandate to the Secretary of the Treasury (which they did in 1971).
The debt Jubilee will deprive the dollar from any currency power and will be the perfect opportunity for the new elected government to introduce the new replacement. Soon to happen, leaving the nations’ citizens in a financial nightmarebecause those who would pay for it are you, me and millions of Americans withpensions, retirement accounts, annuities and other types of savings.