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Is The U.S. Headed For An Economic Collapse?

by Ken Vincent, Featured Contributor

I’M NOT REALLY one of those doom and gloom guys, but there are certain facts and statistics that can not be prudently ignored. Among them are these:

Banking debt is growing 30 times faster than economic growth. Derivatives are now passing 710 trillion dollars. (I was having stomach pains at 200 trillion). We have racked up some 17 trillion dollars in new debt in the past 6 years. The largest exporter of crude oil has now shifted to Russia, and we are not in the best of terms with them. That means that OPEC no longer dictates oil prices (good, bad, who cares?).

Economy 1China has developed a huge “phantom” banking industry and are rapidly accumulating a huge horde of gold. The U.S. Dollar is rapidly being replaced as the world’s reserve currency. China and Russia are already trading in Chinese Yuan. Many in the international monetary scene believe that we are well into a 10 year plan to replace the dollar with another currency. The smart money seems to be on the International Monetary Fund SDR, pegged in some fashion to the Yuan.

So, who is buying all this new U.S. Debt? Russia and China, formerly the biggest buyers closely followed by some Arab countries are now selling. So who is buying? Well it seems that Belgium is one of the biggest new buyers. Clearly Belgium doesn’t have the economic muscle to do all that buying, so one must assume that they are acting as a front for some other entity. I don’t know who that is, but I’m sure the insiders in our security forces know. At least we can hope so.

Now we can toss in all the rioting and terrorist activity in the middle east, much of which we have funded by supporting various dictatorial regimes. Just look at the billions of dollars of military weapons and hardware that we abandoned in Iraq, now in the hands of ISIS.

If you want a some more facts to assure a few nights of insomnia read “The Death of Money”, by James Rickards.

Oh, did I mention that the inflated stock market is now at 203% capitalization? Or that the FDIC can only pay 5% of the deposits they insure, or that the Fed is insolvent?


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Ken Vincent
Ken Vincenthttp://sbpra.com/KennethVincent/
KEN is a 46 year veteran hotelier and entrepreneur. Formerly owned two hotels, an advertising agency, a wholesale tour company, a POS company, a leasing company, and a hotel management company. The hotels included chain owned, franchises, and independents. They ranged in type from small luxury inns, to limited service properties, to large convention hotels and resorts. After retiring he authored a book, “So Many Hotels, So Little Time” in which he relates what life is like behind the scenes for a hotel manager. Ken operated more that 100 hotels and resorts in the US and Caribbean and formed eight companies. He is a firm believer that senior management should share their knowledge and experience with the next generation of management.

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CONVERSATIONS

  1. I think you either don’t know what derivatives are, or are unaware that the $ amount of the underlying assets is not indicative of the risk. For example, A call option on a $100 stock with a $5 premium does not mean $100 is at risk, it means $5 is at risk. It is the premium, not the underlying that is the at risk amount.

    What is “banking debt” as you define it? Is it where people borrow the money or banks borrow the money?

    Russia is desperate for oil revenue, thanks to ISIS selling oil at $30-35 a barrel taking lots of market share there. Why buy at market when one can buy from the scumbags? As a result, oil is dropping nicely.

    And the other items, well, I think the list is too long of things you didn’t research properly.

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