This should be a quiet Memorial Day at home with your loved ones, remembering the sung and unsung heroes of America who sacrificed so much to make this country as great as it — yes — still is.
Unfortunately, however, we are now facing the biggest financial battle of all time — because if America were a corporation, it would already be in bankruptcy court.
The simple truth of the matter is that our country is drowning in debt. $127 trillion, to be precise.
That’s $411,000 of debt for every man, woman and child in this country. Nearly $1.7 million of debt owed by every family of four.
And today, even as we commemorate those who helped build our great nation, investors — both domestic and international — are scrambling for cover from this mother of all financial crises.
They’re starting to dump U.S. stocks, driving their prices down hard. They’re fleeing the dollar and other currencies, and swarming into the ultimate safe haven, gold.
But this time, the action you are seeing in the markets will not be temporary, short-term moves.
Keep in mind, the first phase of this crisis — the real estate implosion — has already largely passed. The second phase was the collapse of the economy, which is still a mortally wounded animal.
The third phase, the most destructive of all, is just beginning.
Right now, it’s Europe that’s crumbling under the weight of its debts and liabilities. Soon, it will be the U.S.
And those in power will wage war tooth and nail against the debt and dollar meltdown.
But I’m afraid Washington — and the American people — may lose this battle, and our country may be at the point of no return, unless drastic, new thinking emerges that gives birth to radical new measures that address the heart of the problem: A monetary system built upon debt.
I have my own thoughts and proposals I am working on to save America from the debt meltdown. When it’s ready, you’ll be among the first to hear about it.
On behalf of the entire Uncommon Wisdom team, warm wishes to you and your family on this Memorial Day.
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