Will You Go When the Sovereign Debt Volcano Blows?
by Ron Holland
by Ron Holland: Strauss-Kahn
and IMF: Will the Rape and Pillage Continue?
never believe in volcanoes until the lava actually overtakes them."
~ George Santayana
while on an investment cruise, I had the opportunity to visit a
"dormant" volcano in Chile. There was even a ski area with lift,
restaurants etc. near the top on the lava and cinders. I thought
at the time how I would ski the volcano but never risk my funds
on a real estate investment there for obvious reasons.
Today we find
the United States and most of Europe in a similar situation. We
risk an eruption and collapse of the mountain of unsustainable sovereign
debt built up over the last two decades. Frankly, the US dollar
and national debt situation is so dire and our means to contain
a sovereign debt crisis so limited by multiple wars, Washington's
debt and political incompetence at home, that anything could happen
– almost overnight. Even a minor foreign policy or economic event
like a Greek default or Middle East crisis could reap havoc with
the precarious interlocking sovereign debt pyramid in the West.
no nation wants a collapse – especially China – because a western
debt collapse and write down is certainly uncharted financial waters
and the contagion risks are global. Still, America and most European
governments and the central banking elites, which created the criminal
sovereign debt fiasco, are only trying to buy more time and delay
the inevitable. This inaction means the threat of an immediate US
debt and dollar collapse cannot be ruled out. Therefore, readers
who have not protected themselves certainly have cause to worry
because now could be too late.
It Is Exit
Time For Your Gold, Wealth & Family
may have some time, nothing else has to happen before a big collapse
could take place, even within days. Consequently, after 30 years
of watching, writing and creating protective retirement planning
and financial strategies, today I'm finally going to yell "FIRE"
inside the closed 'financial iron curtain" which is America.
If you have
failed to store your precious metals outside the US, diversify out
of the dollar or reduce or terminate your private retirement plan,
there is now a clear danger of a Washington dollar and sovereign
debt crisis which could sweep away most of your remaining wealth
and financial security.
I do not have
a crystal ball or inside political information on a specific imminent
threat, only the observation that the sovereign debt crisis from
Europe, a debt ceiling misstep from the clowns in Washington or
a Middle East event could suddenly trigger the collapse. Actually
any major political or economic shock could bring the Madoff style
Ponzi scheme, which Greenspan and Bernanke have created, down almost
overnight on top of us.
This will likely
happen over a weekend and the following Monday morning you could
wake up to Presidential Executive Orders "means testing" you out
of Social Security benefits if you still have substantial retirement
benefits or personal savings. You'll likely discover an end to your
home interest deductions, new confiscatory taxes and restrictions
on US gold and silver, controls on moving private wealth and funds
to safety offshore and dramatic hikes in taxes and cuts in government
programs. In addition, spiking inflation rates, violence and massive
protests will immediately follow these confiscatory actions and
cutbacks. You can also expect severe banking and stock market liquidity
restrictions, or closures, and this will only be the beginning.
In short your wealth will be trapped in dollars and locked up for
the duration of the emergency inside the American jurisdiction.
you haven't already prepared for this type of crisis contingency
ahead of time, I'm telling you there will be little you can do after
the fact. Washington will simply take and throw your wealth and
promised benefits at the problem thus buying them more time with
Banks, City of London & Wall Street Have Looted America and
Back in 2007,
did the Federal Reserve or your politicians or financial experts
predict a collapse in housing prices of 30 to 50 percent? Remember,
Bernanke, George Bush and Barack Obama all promised this was a temporary
blip in the long-term upward trend in housing values. All advised
you to "stay the course."
Geithner claims we have a "strong dollar policy" but have you observed
the 35% plus appreciation in the currencies of Brazil and Switzerland
to the dollar in the last year? The EU establishment has repeatedly
claimed over the last few months that the Greek problems are solved
but these fake solutions usually only last a few days at best.
Back here in
the US, there is talk about deficit reduction, cutting programs
and tax increases but nothing really happens because solving the
problem is political suicide. The American and European elites are
buying time knowing that only a crash or war will give them the
opportunity to act as they did in the 2008 meltdown. They only wait
for a cataclysmic event to provide the fear, excuse and public support
for government action needed to grab our private wealth and to delay
American press doesn't cover it, however the rest of the world knows
that Wall Street banks and their central banking buddies in London
and New York created the sovereign debt crisis. They then sold their
profitable template, or imposed it on the end of a gun, for debt
democracy to politicians around the world as a means to buy votes
and maintain political control. The scam is now over and no one
has a solution to the tens of trillions in debt already spent.
millions of poor people overseas are going hungry because of our
exported inflation on food costs, now the foreign middle classes
are being impoverished just to pay interest on the sovereign debts
to our banking elites. Although, much of the world correctly blames
their thieving politicians who've been bought off by our banking
elites as the problem, our nation is also a target for their outrage.
will attempt to shift the blame to America and this will speed the
end of our American free ride from the fiat dollar and our reserve
currency status. The world is just waiting for the spark to start
the run out of the dollar and our Treasury debt. No nation will
really help us when the collapse comes.
You Have More Time?
Maybe we have
months instead of weeks – or at most a couple of years before the
event takes place. Allow our politicians "buying time" to work for
your benefit instead of theirs:
Yourself With Free Subscriptions: First, to protect yourself,
you must assume the balance of establishment news coverage and opinion
is all disinformation designed to delay panic and create actions
which will benefit the establishment probably to the detriment of
your best interests. Therefore I suggest you subscribe to the following
free e-mail publications:
- Follow what
the elites are planning ahead of time with The Daily Bell – Subscribe.
- Keep up
with the real freedom news and philosophy by subscribing to LewRockwell.com
- Get an Austrian
economics view on the markets and gold with Mountain Vision –
Liquidity & Reduce Political Risk: Legally and following
all reporting requirements, move your private wealth outside the
US into safe secure investments which will remain liquid and trading
should US markets close as they did following 9/11.
A Domestic Safe-Haven Location: The potential for violence,
theft and property destruction in the US dwarfs what could happen
in Greece. If you can afford a safe-haven second home away from
major cities and high crime locations, then do so. Consider taking
advantage of the real estate collapse and buying something you can
enjoy in good times and have as insurance for bad times.
4. You Will
Likely Be Safer Outside the US: In a serious crisis, most of
the criminals out to steal your property and do harm to you will
come with official government sanction and not from traditional
criminal elements. Consider a more secure safe-haven jurisdiction
where the rule of law might still prevail with a condo, second citizenship
or residency in a nation outside the United States for the duration
of the domestic disorder and economic collapse. Remember, currency
and government debt collapse is common throughout the world and
history shows the difficulties don't last forever. My fear is we
haven't seen a world reserve currency collapse before and the aftermath
is uncharted waters. I would expect a scenario several magnitudes
worse than the 1991 Russian collapse.
Your Gold: Finally move most of your gold or silver offshore
where it will remain secure rather than become a tempting target
for confiscation from parasitical groups and individuals. Washington
will need your gold as I doubt there has been substantial gold at
Fort Knox since Nixon closed the gold window. The eventual outcome
of the crisis may well be some fake gold backing for the dollar.
Why else would anyone use a collapsed currency?
Trust Washington With Your Retirement Benefits: Consider closing
and taking a withdrawal from your retirement plans to avoid new
taxes and penalties at withdrawal, the means testing and loss of
your Social Security benefits or the forced investment into collapsing
You can read
all about the gold and retirement threats in my
Lew Rockwell archive. Pay specific attention to the following
The debt crisis
is here and I promise you only that you will not hear the truth
on cable financial news or from your establishment investment firm
or professional. To avoid a panic, neither the government, the Federal
Reserve or Wall Street will be honest with you about the risks we
face, just like they all lied and covered-up before the market meltdown
If you are
an American, the last place you should keep most of your wealth
now is in the dollar or your home country. You might personally
get out but your wealth will be trapped for the duration and probably
lost during the disruption.
with permission from The
Holland [send him
a contributing editor to the Swiss
Mountain Vision Newsletter
and Chairman of the Advisory Board of the Foundation for the Advancement
of Free-Market Thinking (FAFMT)
in Vaduz, Liechtenstein.
© 2011 The
Best of Ron Holland