Lost amidst all the talk of Covid-19, economic shutdowns, and stimulus is one simple but incredibly important question…
Just who is going to pay for all of this?!?!
The US was already ~$25 trillion in debt BEFORE the economy was shut down. This puts our Debt to GDP ratio at 105%. And we’re expected to have added another $3 trillion in debt from April to June of this year alone.
Mind you, this is assuming the government doesn’t implement another stimulus program. If it does, we could easily add $6 trillion in national debt this year.
This will work temporarily, as the bond market is showing tremendous demand for US debt based on safe haven buying and fears of continued economic weakness.
However, at some point, the elites who run this country will begin looking for new sources of capital to finance their schemes. If history has shown us anything, it’s that once the government seizes power, it rarely gives it back.
So, you can expect wealth taxes, cash grabs and worse in the coming months and years. The IMF has already called for nations around the world to introduce a wealth tax of 10% on NET WEALTH as soon as possible.
To shore up sovereign balance sheets (reduce debt levels).
The Elites will introduce these ideas as new proposals based on “fairness” or “helping America out” but the reality is that the Powers That Be have been working on this for well nearly a decade.
Did you know that in 2011, the US passed legislation that would allow regulators to:
1) Freeze bank accounts and use them to “bail-in” financial institutions/ banks.
2) Close the “gates” on investment funds/ money market funds to stop you from getting your money out.
3) Impose wealth taxes and seize unused assets.
If you think that’s bad, consider that the Fed plans to both seize and STEAL savings during the next crisis/ recession.
We detail this paper and outline three investment strategies you can implement right now to protect your capital from the Fed’s sinister plan in our Special Report The Great Global Wealth Grab.
We are making just 100 copies available for FREE the general public.
You can pick up a FREE copy at:
Graham Summers, Chief Market Strategist, Phoenix Capital Research