[nky]

I'm going to go ahead and explain why I think the economic collapse is coming. Again, please look this information up yourself and come up with an answer with your own research. I absolutely don't expect anyone to take mine or Hoot's words on this. Please research this yourself.

Just to give you guys a fair warning, I will be showing quite a few Glenn Beck videos. The reason for this is because to my understanding, he has been the only person on the news who has been warning of a coming economic collapse. Glenn Beck has been a great reference for me to understand our economy better. I personally want to apologize for any political bias that Glenn Beck might show. I want to be clear in that I don't want this issue to be related to politics at all. Please don't let this issue change your political stance. If you don't want to watch these Glenn Beck shows, then please learn this information for yourself in any way you can.

The main cause of the coming economic collapse will be our national debt, which is currently around 14 trillion dollars.

In order to understand our nation's debt problem, let's use a simple example of someone's personal finances. Let's say that I am an incredibly rich person. Let's say that you're a good friend and co-worker of mine. Every day, we eat lunch at an expensive restaurant and talk about the issues at work. One day after eating, I find out that I don't have any money. Therefore, I ask you to pay for my expensive lunch. You pay for my lunch, thinking that it's nothing to worry about since I have plenty of money to pay you back with. Besides, I've paid back every loan that I've been given and you completely trust that I'll pay you back. After about a month of paying for my lunch, you get upset with me. I haven't paid you back yet and, as a matter of fact, I haven't even mentioned it much. Another month passes of paying for my lunch and I still haven't paid you back. Eventually, you're going to become upset with me and you will refuse to loan me money, at least until I pay you back. All of a sudden, I find out that I've been borrowing money from you all this time and I have to pay you back. This enormous debt I owe you forces me to sell a few of my stuff and to have my standard of living lowered.

This is what's happening to our country's finances, except we have borrowed much more money than what a person would spend at any expensive restaurant. Other countries have allowed us to borrow money for years now, trusting that we would pay them back. These other countries are about to demand for us to pay them back, seeing that we haven't made much of an effort to pay them back. When they finally demand us to pay them back, that's when our economy will collapse. We will run out of money and be forced to cut spending / raise taxes.

Something else to talk about is the decline of our currency though "monetizing the debt". I'm going to try to explain this the best I can. Please read carefully because this is very difficult to understand (at least it was for me). If you're able to, please get a dollar bill and look at it. You'll notice on the front of the dollar bill, it will have the words "Federal Reserve Note" on the top. This was put on the dollar bill to tell you that the dollar you're currently holding actually represents something of value that the Federal Reserve Bank or our country has. The dollar bill that you're holding is the promise to you from the Federal Reserve that your dollar bill is truly worth what it says it's worth. The problem is, what happens if our country and the Federal Reserve Bank has less valuables to back up our money? As our country or the Federal Reserve Bank loses the stuff that backs up the value of our money, the dollar bill you're currently holding loses value. This is called "inflation", where prices of products go up and each dollar bill is worth less. This same thing happens if we make more dollar bills, which our country is currently in progress of. After printing a lot of money, it turns into "Hyperinflation", where prices of products can skyrocket enough to where you can't even buy them. Hyperinflation can also empty savings accounts, since dollar bills become worthless.

^ I hope I got that correct. I encourage you to learn this yourself through your own research, just in case if I did make a mistake.

In this following video, Glenn Beck explain both the national debt and the decline of our currency. Please feel free to watch this over and over again. I definitely had to just to understand what Glenn Beck was talking about. Here's the video:



I encourage all of you to watch the news and keep up with the national debt limit. It's very important for you to know what it will mean if the national debt limit isn't increased and why it's even being considered not to raise it. Here are our country's remaining options:

1) Cut spending / raise taxes.
2) Continue spending and not raise national debt limit. (Would lead to economic collapse, link: http://www.bloomberg.com/video/65706090/).
3) Continue spending and raise national debt limit. (Would lead to economic collapse. Starts at minute-mark 2:17 of this link: http://www.bloomberg.com/video/67190794/)

To my understanding, all of these options will lead to an economic collapse.

I also want to talk about higher interest rates. I found this video recently, and it involves Glenn Beck talking about how inflation leads to higher interest rates. This video also explains why we haven't experienced hyperinflation yet. Here's the video:



Again, please don't take my word for any of this. Please research this yourself.

I hope I didn't leave anything out. Please mention anything to me if I did. And please ask any questions that you might have.

By the way, please also mention any mistakes that I made in this post.

These are not signs pointing to the collaspe of our civilization. This is someone who takes various crumbs and puts them togather and hypes it up for ratings (kind of what the news media does everyday-ever wonder why everything is breaking new?)
The points that are being made are the same points that the anti-Federal Reserve/Federal Reserve conspiracies always make It's no new and really not related to the current debt ceiling kind of blurring multiple conspierices to get a new one. Here's an interesting read on some of this http://www.publiceye.org/conspire/flaher...serve.html

The real problem is Washington and the politician unwillingness to act in the best interest of the country instead of working on getting re-elected. We need the politicians to act like adults not party mouth pieces. Cut spending, stop spending, and start to back off all the entitlements. They need to stop the "scare" tatics. It's not the end of the world with or without the debt ceiling. Mass riots will not happen if we default unless the American people start to hold the politicians accountable but the American people are apathtic and very short sighted.
If anyone is so concerned don't just stock pile food, stock pile hard trade able commodities- generators, hand tools, and the like. Things that you can trade for other things. Myself I'll be living my life with my family and not woorying about any of this:thanks: