No, I am not here to bring you negative news, yet I want to give you realistic news. It’s not about the doom and gloom! It’s about preparing you to cope with the future that will not be very bright for us, here in the U.S.
Only one of the reasons for which I and the Austrian Economists believe this is just the beginning of a long and painful economic path for the U.S. is our glued membership in the IMF. The International Monetary Fund (IMF) is an intergovernmental organization that oversees the global financial system. In a nutshell, they provide loans to third world countries, which they know cannot and will not be repaid. But what you need to know is that the largest contributor to the loans provided by the IMF is the American Taxpayer, you! Annually $37Billion (see for yourself) is transferred from the U.S. to the INF, not to mention that we don’t have the money but no worries, the Fed Reserve is eager to create more of it, thus enslaving the American taxpayer and future generations.
Ron Paul had introduced legislation to withdraw membership from the INF and thus end tax payer support of welfare programs to the third world countries. Too bad politicians can be bought out by special interest so it is obvious it wouldn’t pass.
In future posts I will discuss how the American taxpayer has contributed to the economic collapse of Argentina and other interesting topics worth knowing. In the meantime, you may want to take action to preserve your assets and invest wisely. The party is over and we can’t stay drunk!