The United States has been going bankrupt gradually since the Johnson administration. There is no need to discuss this further: people either know how much the country is in debt or they are unwilling to hear the truth.
The Hemingway quote above brings us to our current state: bankruptcy suddenly. The petrodollar is being replaced by the petroyuan/petroruble backed by commodities that have value, not the full faith and credit of a Deep State failed empire. As outlined in a previous article (A Dollar Collapse Is Now In Motion – Saudi Arabia Signals The End Of Petro Status), the second option of going bankrupt suddenly is now here.
What does that mean? The United States fiat currency will quickly be devalued. Since our government wants this scenario to happen t0 initiate a great reset, I want to concentrate on what this means for regular people.
1. Bank deposits
Worst case would be a bank holiday where all access to your money is restricted. Since the “government” has declared your deposits to be the property of the bank; this means a portion or all of your money can be used to settle bank debts. My best guess is that a portion of your deposits will be confiscated and the remainder converted into a new digital currency regulated by the government.
Options: Get your money out of the bank now. Buy goods that are barterable and and tools that will allow you to barter services in the future. Keep in mind that food, gas, antibiotics/medical supplies and dry goods will be at a premium so bartering should be a last resort in the short term. In other words, buy these commodities now so you will not have to barter for them later.
Consider the price of eggs now and the price of eggs when the dollar collapses: what would you sell your eggs for when the dollar collapses and the supply chain is very limited (or non-existent).
2. Stock market
The “experts” have a wide range of views of how low the stock markets will drop. What they all agree on is that the market will drop. My best guess is at least 50% to start. Once panic sets in and people need cash to cover their mortgage, debt and food, it will becomes a buyers’ market. If you want a good example, look at the housing industry in 2022. Extrapolate that to everything because no sector will be spared.
3. Retirement accounts
Confiscated.
4. Social Security, Medicare and Social Engineering programs
I believe in the short term, these programs will not be impacted. However the money received will be devalued so expect a 25-50% inflation rate.
5. Civil Unrest
What will happen when people’s wealth, retirement and employment are “suddenly” gone? No money for food, rent/mortgage or heat. We already live in a two-tiered justice system: will we revert to the Wild West for vigilante justice?
As for WWIII, the United States is begging for a nuclear war to cover up or mitigate the sudden bankruptcy of the country (along with its other sins). The point of this article is simple: suddenly is very close and suddenly means it will happen in a matter of hours or overnight while you are sleeping.
The Bible has many suggestions on how to live and prepare for bad times and famine:
Warnings Against Folly – Proverbs 6
6 Go to the ant, you sluggard;
consider its ways and be wise!
7 It has no commander,
no overseer or ruler,
8 yet it stores its provisions in summer
and gathers its food at harvest.
9 How long will you lie there, you sluggard?
When will you get up from your sleep?
10 A little sleep, a little slumber,
a little folding of the hands to rest—
11 and poverty will come on you like a thief
and scarcity like an armed man.
12 A troublemaker and a villain,
who goes about with a corrupt mouth,
13 who winks maliciously with his eye,
signals with his feet
and motions with his fingers,
14 who plots evil with deceit in his heart—
he always stirs up conflict.
15 Therefore disaster will overtake him in an instant;
he will suddenly be destroyed—without remedy.
Use this time wisely and pray to the Lord for mercy for the actions of our evil leaders.
David DeGerolamo
Well stayed. Words to the wise. Not sure the unwise will listen anyway.
Not sure if being “working poor” is a benefit, or hindrance. I’m just thankful I saw the warning signs a decade ago. Even today, it’s not too late to start putting supplies back. Some is much better than none.
For some levity, I hope when the govt declares a “bank holiday” and start raiding accounts, they see mine and have pity.
In the long run, I am not sure it is all that bad to be poor.
Proverbs 23:4 -- 4 Labour not to be rich: cease from thine own wisdom.
Luke 6:24 -- 24 But woe unto you that are rich! for ye have received your consolation.
Matthew 19:24 -- 24 And again I say unto you, It is easier for a camel to go through the eye of a needle, than for a rich man to enter into the kingdom of God.
I could go on.
Learn to be frugal & live within your means. I feel a person has to do this on a day to day if not a moment to moment basis. Learn to fend for yourself and your family, teach your children & grand children to do the same. Opt to do without if you having a difficult time deciding on making a purchase. Don’t turn down honest work, be polite & professional in your daily life. The balance is most likely out of your control. JMO Good luck to all for the times coming are going to test us all.
We’ve kept our cash out of the bank for several years. Enough stays in the bank with which to pay bills. Even in these days of practically-forced direct deposit, payday is still a trip to the bank (just like back when you got a hard check). There you withdraw the money that is excess to whatever payments you have to make by check. That cash goes home with you. Put your “pay yourself first” (savings) aside, then budget for groceries, insurance (we pay yearly to avoid the hassle of paying monthly but we pull money out of each check) gas and the various other expenses we allot for. When its time to buy chicken food, we grab money from that jar or envelope. When we have to get groceries we take money from that jar/envelope. When its time for a haircut or new jeans, we pull money from the appropriate jar. When the jar is empty then we have to either wait until payday to buy what that jar is allocated for, or we reallocate from another jar and decide if we need to adjust our budget, or if we will pay the borrow-jar back from the empty jar next payday. Its pretty simple and it is basically foolproof. It is a minor inconvenience that requires some discipline because we don’t ever use plastic unless it is absolutely necessary. We also do not use online banking EVER, and if we need to buy something off the internet we buy a gift card at the store ( 60 miles away) and use the gift card for payment to avoid theft/fraud/hacks. We also don’t use conventional investment vehicles and we never contribute to auto-withdrawal 401k’s or any other thinly veiled mechanisms for wealth confiscation. Most of our excess cash gets converted into usable assets like food, supplies and other gear. One other matter that makes this work for us-even with just one household income-is we don’t have credit payments to make. Our “newest” car is a 2011 that we bought in 2017 with 140 k miles on it then, and it now has over 235k miles on it. Money that might be used for car payments gets saved for occasional repairs and required, preventative maintenance. We never buy new cars, always used. When its getting towards time to replace a vehicle, we save the money ahead of time so we can pay cash. We don’t buy cars outside our use-needs (no impulse buys, no vehicles that don’t suit our needs). We research beforehand to avoid getting a model/year that is unreliable or tends towards frequent repairs. Even though we have moved a couple times in the last couple decades, we always work to find a reliable and trustworthy repair shop…not an easy job for sure. It usually takes a few tries to get it right. Last note on cars-replace your batteries (esp on diesels) every two years or thereabouts. Save you lots of headaches. Money not in your possession is easier to confiscate than money in your hand, and being debt free is one more way to keep out of the system and to not feed the beast. I don’t say all of this as a boast, but as a road map for folks that are trying to figure out how to live and prep at the same time. I am always hopeful that people are thinking about these things and taking appropriate action. And then I hear people’s stories and I know that most of them are still operating in a very-soon-to-be-outdated world view to their own harm. We know folks with hundreds of thousands tied up in not-very-liquid investment vehicles, but are hesitant to buy a head of locker beef-even while food grows scarce. We know other folks with over 120k year household income with 2k a month in just car payments, plus a boat payment, credit card debt and a house payment. If/when the economy fully crashes they have nothing to fall back on and for now they are forced to work at jobs they basically hate because they have very few options because of all their debt. Not much of a way of life, IMHO.
I love watching the folks on “House Hunters” look at the granite countertops and say it’ll have to be replaced because they don’t like the color. Folks are still buying “vacation” homes because they’ve worked very hard for a long time. Some are in their 30’s.
David, tremendous section of scripture. Many thanks.
You’re welcome
You know the usual animals will be onboard with it. The EBT cards are working and they still destroy and kill for joy, once the system goes down they’ll really let go.
Imagine the unarmed virtuous liberals with BLM signs in their yards will enjoy being murdered and raped by their pets.
I’ve lost all compassion for those still living in the cities. Let them burn, the ‘animals’ with them.
Just a thought, if “Somebody” is “assisting” illegals some thousands of miles away into our country and then issuing them cell phones, and benefits before shipping them across to mostly red areas…
And somebody is shipping Antifa, providing them support, equipment, training and legal protection to harass Americans.
Why do you think they will not ship into your country areas troublemakers and even “Protect” them from “Hate Crimes”?
“You may not be interested in war, but war is interested in you.”
― Leon Trotsky
Love Proverbs.
I say confess the countries sins before God, ask for a repent full heart for the nation and remove all the evil people in power and put God fearing men in those positions.
Expect the US Dollar to be converted to a DIGITAL ONLY currency in the very near future and paper dollars outlawed. You can’t control a black market easily and you can’t tax anything and everything if people move to a cash only economy. Therefore cash WILL be ended….soon.