Unemployment Decline An Illusion, Financial System Collapse Ahead

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Twenty years ago, a father with an average job was able to support an entire family of four or five on one income. Today, both parents need to work, and they are still unable to support their family without getting deeply into debt with credit cards, mortgages, auto loans, and college loans. Less families today have health insurance. Wages have not kept pace with inflation, all we have seen is an increase in debt to meet some of the demand from inflation.

With the babyboomers beginning to retire, the decline in our standard of living is about to dreadfully accelerate. The average American peaks in spending at around 46 years old and the last babyboomer will turn 46 in 2010. Therefore, a major drop-off in consumer spending is coming. But more importantly, beginning this next decade, 1.5 to 2 million Americans will apply for Social Security every year until 2026, compared to only 500,000 per year during the last decade. Tax receipts are about to fall off a cliff, at the same time as government entitlement spending for Social Security, Medicare, and Medicaid go through the roof.

Many people have been asking us on NIAnswers, if we see massive inflation and gold prices go through the roof like we predict, wouldn't that be good for the U.S. because we have the largest gold reserves at 8,133.5 tonnes? Well, at the current gold price, our gold reserves are worth approximately $300 billion. Our budget deficit this year alone was $1.6 trillion. If we had to pay back our $12 trillion national debt using only the gold in our vaults, it would require a $45,889.44 per ounce gold price. But once you factor in our $55 to $100 trillion in unfunded liabilities for Social Security, Medicare, and Medicaid, our gold reserves will not put a dent in saving our country from the financial system collapse that lies ahead.
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