US Government Balance Sheet declared Insolvent while US involved in 5 wars (Gaza, Iran, Iraq, Ukraine and Now China)
Imagine if you had a $100,000 balance on your credit card…
And you only made the minimum payment every month because you were paying close to 0% in interest.
What would happen if your credit card company jacked up your rate to 5% or higher virtually overnight?
You would be in big trouble. That’s exactly what’s happening with the U.S. government now. In 2023, we spent more on interest than our defense budget.
And interest rates are still going up. JP Morgan Chase embattled CEO Jamie Dimon cried “Be Prepared for 7% interest rates”
Let’s do the math here. 7% on a $33 trillion debt.
That’s $2.3 trillion just in interest payments…every single year.
$2.3 trillion! That’s almost twice what we spend on Social Security alone. And do you know our entire government tax revenue in the most recent fiscal year?
Less than $4 trillion. So, we will spend more than half of our income on interest payments.
Take a look at this projection.
You make $4 trillion in income… but your expenses are more than $8 trillion.
Can you see now why everyone is losing trust in the U.S. dollar?
We're bankrupt. That's the only conclusion. This isn't opinion but numbers and facts.
That's why Ray Dalio recently went on CNBC and said this on live TV:
Economist Peter Schiff says:
The Chinese media is also predicting a catastrophe.
Most of us don't pay attention to the Chinese media, but China is one of the largest holders of the U.S. Treasury.
So here's what their media is saying:
Let’s discuss China further. Let’s also bring back Ray Dalio for a moment.
According to the founder of the world’s largest hedge fund, Ray Dalio, we’re at the brink of “a brutal World War III.”
As if the Russia-Ukraine war wasn’t enough...
We now have a new war in the Middle East that is escalating quickly. And soon, we could have a direct conflict between Israel and Arab nations. Just yesterday, The Pickaxe reported on US military strikes against Iraq.
At the same time, an Air Force secretary is warning that China is preparing for war with the US.
The entire world is in chaos. US is involved in 5 wars. Ukraine, Gaza, Iran, Iraq and now China.
But this isn't just a kinetic war (bloody and brutal) or cyber war (bringing banks, stock market trading, businesses, and healthcare to a grinding halt)
It's a financial war, and the US is losing.
In a matter of weeks, the US lost its Oil backing. Saudi Arabia, UAE, all of OPEC, and most of the World are Ditching the once Almighty US Dollar.
Take a look at this picture -
On the right is China's currency, the Yuan.
China aims to replace the US dollar as the world's reserve currency.
China is getting closer to that goal each day.
In February, they got Iraq to ditch the dollar for trade.
In March they got Brazil, the largest economy in South America, to ditch the dollar for trade.
In April, they got Argentina to ditch the dollar for trade.
The ruling "elites" have been saying this could never happen. But this is happening.
Saudi Arabia didn't welcome Biden and has now turned to Russia and China for military protection (a position the US had since Kissinger met with the Saudi Royal family in 1971)
And it's happening right now in real-time.
Make no mistake about it: this is economic warfare.
And it's about to get worse.
The Chinese Communist Party will announce the second phase of its attack against the US dollar as soon as January 6, 2024.
Like a Category 5 hurricane, this announcement could demolish America's financial markets, stunning investors and businesspeople alike.
Certain stocks could drop by 80%. And since all these enormous markets like Brazil, India, China, Russia, South Africa (really all of Africa) and most of Latin America are dumping the US dollar.
All these dollars will come washing back to the US continent, and this 2nd wave of inflation can not be stopped by monetary policy. It will be the excuse The Fed needs to roll out it's dystopian digital dollar (CBDC)
Inflation would soar, leading to a massive drop in bonds.
Certain money market funds could become almost worthless – virtually overnight.
In other words, you and your family depend on many investments for your retirement, which will no longer be safe.
This announcement will be "catastrophic for the American economy."
Let’s see if I’m right.