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"And ye shall know the truth, and the truth shall make you free." - John 8:32
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Author:  Christopher Monckton of Brenchley
Bio: Christopher Monckton of Brenchley
Date:  May 21, 2013
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Topic category:  Fiscal Policy/Unsustainable Debt/Deficits

The Dollar - and the USA - is Toast
Lord Monckton sees China prepping for final collapse of America

Obama has done it. He has brought America down. It only took him just over four years. The Republicans could have stopped him. They didn’t. How did the nihilistic left succeed in destroying America? Simple. They learned just a little of the capitalism they hate, and they drove your nation into outright bankruptcy.

Obama has done it. He has brought America down. It only took him just over four years. The Republicans could have stopped him. They didn’t.

How did the nihilistic left succeed in destroying America? Simple. They learned just a little of the capitalism they hate, and they drove your nation into outright bankruptcy.

And here is what the GOP has to say about it: just about nothing.

The once-mighty United States is now the most indebted nation on Earth. In round numbers, here are just some of the vital statistics as the patient dies:

National debt: $17 trillion, or $50,000 per man, woman and child, or $150,000 per taxpayer. Annual federal deficit: $1 trillion. Medicare/Medicaid/Obama”care”: $1 trillion a year. Social Security: another $1 trillion a year. Defense: two-thirds of a trillion. Unemployment handouts: $2 billion per working day. Debt interest: $1 billion per working day. Federal pensions, ditto.

Now for the big numbers. Your government’s Social Security liability is as big as the national debt: $17 trillion. Its prescription drug liability is $22 trillion. Then there’s the Medicare liability of $86 trillion. Total unfunded liabilities of the U.S. government are $125 trillion.

Net assets for each U.S. citizen are $300,000. The net liability of the U.S. government, shared among its citizens, amounts to almost four times that: $1.1 million a head. And the government’s debt is growing at $1 million every 45 seconds. To cover its annual deficit, it is printing $1 trillion a year of currency that is not backed by any asset whatsoever.

Here is what will happen next. When the crash comes, don’t say you weren’t given fair and clear warning.

First, the dollar will cease – no, make that “is already ceasing” – to be the world’s reserve currency. China, as I have been warning you she would, has realized the dollar is finished. So she is quietly making startling progress with bilateral and multilateral deals to replace the dollar with the yuan as the world’s currency of choice.

Sterling, once the world’s reserve currency, went precisely the same way in 1967 under orders from Moscow, which then largely controlled the governing Socialist Labor party in Britain.

After the Second World War, the Socialist/Communist governments of Attlee and Wilson bankrupted Britain with health-care and welfare programs and nationalization of industries. Inflation rose to 27 percent.

Obama’s copycat policies are different in only one respect. Moscow is no longer calling the shots. International totalitarianism no longer needs direction. Its cruel, hate-filled, destructive mission now advances on autopilot.

Watch some of the straws in the wind. China and Korea have come to a little-noticed agreement that international trade between them will no longer be denominated in U.S. dollars, but in yuan, or Won.

Behind the closed mahogany doors of the world’s finance houses, elaborate and secret preparations are being made for the upheaval and international financial collapse that will follow the deliberate printing-out and consequent implosion of the dollar.

Your GOP representatives should be, but are not, asking the administration to reveal to them the ever-tougher terms on which the Chinese continue – with ever-greater reluctance –to lend money to keep their communist ally in the White House afloat.

Do not believe China cannot afford to let her biggest creditor fail. She can, she will, and she is making careful preparations to do just that.

If you thought the crash of 2008 was bad, think again. The crash that is coming –I cannot put a date on it, but it is not far away now – will be orders of magnitude worse.

So, what should you do to protect yourself and your family? First, get rid of every dollar you have. Dollars are now all but worthless. When the crash comes, they will have no value at all.

In hard times, most financial instruments – currencies, stocks, bonds – are not worth the paper they are printed on. Get rid of them now. Buy silver coins. They will quintuple in price once the crash sets in, and they are small enough to be fungible when the dollar dies.

Buy land, some of it well-wooded, some of it arable, some of it grassland. You will need the timber to power your steam tractor. Gasoline will be a costly rarity. And make sure you can defend yourselves. Starving mobs are no respecters of persons. Do what the Mormons do: Get three months’ supply of imperishable foodstuffs and hide them in the basement.

Absurd though this advice may now seem, there is a real danger that the crash will sudden. If so – perhaps for several months, and even for years – the fabric of civilization, including the food-supply chain, will fail.

It is not my custom to write in millenarian or apocalyptic terms. But the very best that can be said for your current administration is that it simply has no idea what damage it is doing. It is printing money in the vain hope of buying itself time. Yet every fake dollar that comes off the printing-presses makes the problem worse and the solution harder.

At worst, what is now happening to your nation may be deliberate. In that event, your current “president” will go down as history’s greatest villain. In any event, he will go down as history’s greatest incompetent.

Do not believe none of this can happen. Psychiatrists study what they call “normalcy bias.” People expect that everything will carry on and that America is too big to fail. She is not. She has failed. You will pay a heavy price for her failure, unless you act now to defend yourselves against what your government, with the culpable, silent acquiescence of the GOP, is doing to destroy your nation.

Finally, pray. God bless America. It has been nice knowing you. Only when you are gone will the world realize how much it misses you, and – paradoxically – how much it owes you.

Christopher Monckton of Brenchley

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Notes: 

This article first appeared at WorldNetDaily.


Biography - Christopher Monckton of Brenchley

Christopher, Third Viscount Monckton of Brenchley, was Special Advisor to Margaret Thatcher as UK Prime Minister from 1982 to 1986, and gave policy advice on technical issues such as warship hydrodynamics (his work led to his appointment as the youngest Trustee of the Hales Trophy for the Blue Riband of the Atlantic), psephological modeling (predicting the result of the 1983 General Election to within one seat), embryological research, hydrogeology (leading to the award of major financial assistance to a Commonwealth country for the construction of a very successful hydroelectric scheme), public-service investment analysis (leading to savings of tens of billions of pounds), public welfare modeling (his model of the UK tax and benefit system was, at the time, more detailed than the Treasury's economic model, and led to a major simplification of the housing benefit system), and epidemiological analysis.

On leaving 10 Downing Street, he established a successful specialist consultancy company, giving technical advice to corporations and governments. His two articles in the Sunday Telegraph late in 2006 debunking the climate-change "consensus" received more hits to the newspaper's website than any other in the paper's history: the volume of hits caused the link to crash.

His contribution to the IPCC's Fourth Assessment Report in 2007 - the correction of a table inserted by IPCC bureaucrats that had overstated tenfold the observed contribution of the Greenland and West Antarctic ice sheets to sea-level rise - earned him the status of Nobel Peace Laureate. His Nobel prize pin, made of gold recovered from a physics experiment, was presented to him by the Emeritus Professor of Physics at the University of Rochester, New York, USA.

He has lectured at university physics departments on the quantification of climate sensitivity, on which he is widely recognized as an expert, and his limpid analysis of the climate-feedback factor was published on the famous climate blog of Roger Pielke, Sr.

His lecture to undergraduates at the Cambridge Union Society on climate change has been released by http://scienceandpublicpolicy.org/ (SPPI) as Apocalypse? NO!, a full-length feature movie on high-definition DVD (available from http://www.greatswindle.com). Apocalypse? NO! been described by Professor Larry Gould of the University of Hartford, Connecticut, as the best film ever made on climate change.


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