The global economic system is a very shaky house of cards that has been build on debt. We are living in the greatest financial bubble in world history, and it isn’t going to take much time to topple over. And when the economic system falls, it is going to be nothing like we’ve ever seen.
There is about 190 trillion dollars of total debt on the planet. But the global GDP is only about 70 trillion dollars. And the total national value of all derivatives around the globe is somewhere between 600 trillion and 1500 trillion dollars. So we have a gigantic disaster on our hands.
In the United States today, there is around 56 trillion dollars of total debt, but there is only about 9 trillion dollars in our bank accounts. So you could take every single penny out of the banks, multiply it by six, and you still would not have enough money to pay off the debts.
$9,283,000,000,000 – This is the total amount of all bank deposits in the United States. The FDIC has just 25 billion dollars in the deposit insurance fund to “guarantee” those deposits. In other words, the ratio of total bank deposits to insurance fund money is more than 371 to 1.
Terrifying?
The global economic system is connected to each part, and a crisis at one major bank or in one area of the world can spread to the others quickly.
Are you starting to get the picture?
Every single day, the total amount of debt will continue to grow faster than the total amount of money until the day that this bubble bursts.
The dominoes are starting to tumble, and the United States won’t be immune. In fact, the greatest financial problems that the United States has ever seen are on the horizon. Even Ben Bernanke, Barack Obama and the U.S. Congress will not be able to save us from the coming financial collapse.
What we experienced in 2008 was just a little “hiccup” in financial market. It caused the worst economic downturn since the Great Depression, but global financial authorities were able to get things stabilized temporarily.
Next time it won’t be so easy.
There is no way that the global economic pyramid is going to be able to hold up for too much longer. At some point it is going to totally collapse.
When that happens, will you be ready?
Get out of debt.
“The rich ruleth over the poor, and the borrower is servant to the lender.” Proverbs 22:7
