For over a year we have maintained here at SD that as the gov’t debt crisis accelerates and reaches the end game, the PIIGS will become F UK US PIIGS as France, the UK, and finally the US reach a solvency/ debt crisis on the same stage currently experienced by the southern European nations such as Greece.

Today’s Chart of the Day vividly drives this point home, as US per person debt is now an astonishing $53,378- a full 35% higher than that of Greece.


Source: Weekly Standard

  1. As astonishing as this figure is, with $130,000 per family, if the per capita debt is processed according to GAAP rules, we have $220 trillion in accrued mandates and entitements looming in most of our lifetimes.  That comes to $750,000 per family that we must pay over the next 30-35 years.  We 60 plusers probably won’t hit this fiscal cliff but I’m not counting on getting a mulligan on that score. Anyone age 10 to 50 is going to watch this slo mo financial tsunami come their way. Sumkid, that means you.
    The total YOY is well over $3-5 trillion in present form, ramping rapidly to $10 trillion a year within 15-20 years.  That might seem a long time but if you have kids that is only the span of time in which they grow to adulthood.
    Something is going to give and I really don’t what it will be.  But something will break, of that I am convinced.

    • @AGXIIK That sucks for me as this part of my future will not be bright! 🙁 At least I’m seeing this financial tsunami coming at a young age! 🙂 How am I supposed to repay the debts if I only own physical gold and silver? My question is if the system and the fiat currencies collapse, then will I still have to repay the national debts since all the fiat currencies will become worthless?

  2. US per person debt is now an astonishing $53,378- a full 35% higher than that of Greece.
    –  –  –  –  –
    Music sucked in the ’80s but does anybody remember the song, “Turning Japanese?”
       Turning Japanese
       I think I’m turning Japanese
       I really think so

    It’s time to do a remake of this song.  We are turning Greek instead.  

  3. @Chief: Did AJ say why he’s against secession? I’m curious, but not enough to suffer through any more of him than necessary, because I’ve been slogging through that docu of him and that guy talking safe locations that showed up on t’other place.

  4. Greeks give in the Ass both ways.

    Now down here in Texas where I have helped enforce the law, we can be totally self sufficent.
    We have agriculture, lots of oil and oil refineries, cattle, etc I would rather pay any income tax
    to my state than the IRS. Matter of fact we have the right to secede, no other state has that right!

    When we do secede, I recommend all of you foreigners petition what is left of the Union and let
    Washington make a law that says only those who pay income taxes have a right to vote!

    Ranger from Texas and damned proud to get away from Oreo and his cronies!

  5. Those debts must get repaid by someone and it will the 99% of the people. To be more specific, it will be the future generations including me who will repay back for everything that the corrupt governments did. These types of people are really selfish! 🙁

  6. Sumkid  Let me assure you of something. The debts being racked up by the US and other countries will never be repaid.  The debt in the US is being accumulated at a rate of $5 trillion a year including the mandates and entitlements signed off decades  ago by  the last generation of corrupt politicians.  Government debts are government debts, not yours.  The best way to kill the banksters and others who would try to kidnap us, rolled up in a thick blanket of debt,  is to not take on debt or if you have debt against you, tell the banksters to go to hell.  To the best of your abilities, live a life without counterparty risk.  The best assets to accomplish those ends are gold and silver.  I wrote a blog concerning that subject about 4 months ago.
    In reality your future is much brighter than those double or triple your age.  The older generations of people in this country have much deeper financial and societal roots. They find themselves  increasing unable to remove themselves from the currency and debt paradigms  they built or were created by others into which they found themselves trapped like a fly in amber.  That is their and our dilemma and it is our responsibility to remove ourselves from these traps. Many on this sites are doing so and doing it very quickly.   Those who fail may perish
    This is a very large world in many respects.  In any corner of the world at any time there are opportunties abounding for someone like you who is studying the history of countries and cultures that are  either ascendant or descendant. With even a cursory study of world history;  of the history of money; how it affects a people and their country, you can identify the locations that best suit your personal beliefs, desires  and ambitions.  I don’t see you standing still when there are opportunties like this across the globe.
    In Europe right now the immigration and emigration patterns show young people moving from Spain, Greece and Portugal;  countries with unemployment rates of 50%. They’re moving to Germany, the Scandinavian countries, the central European countries that are not tied to the Euro and even South  American countries like Ecuador, Peru, Chile and Brazil; countries that are ascendant in the world economy.  I’ve studied  these countries on other channels like the Dollar Vigilante, Sovereign Society and International Man.  These countries interest me from the standpoint that they present a place to have as a second home or, as they call it, Getting Out of Dodge. Their tax rates are lower. Their freedoms are greater. The governments welcome young enterprising people who are interested in building these countries.  They have some of the same qualities as America did 150 years ago.  Their rules of law are firm and the government is small.
    The reason I mention this is in the US we are being ring fence by currency controls, increasingly strict borders and passport restrictions that are more and more troublesome to deal with. The tax farm’s doors are closing.
    The debt being incurred in a country is the debt of the government, not you.  As a young man you are not responsible for the debts racked up by your government leaders or the older generations. Don’t worry about that debt. No one is going to come to your door demanding you pay your share.  The politicians always make it sound like you owe this debt.  It is they who owe it in as much as anyone is responsible for the unsustainable debts being racked up here in the US and Europe.
      What you are doing is gaining a substantial understanding about how currencies work, how to avoid the worst of these unstable and unbacked FIATs and how to counter them by having portable wealth that represents real money. Your stack equals freedom to chose and freedom from repression. 
    Think entrepreneurially.
    Think Internationally. 
    I doubt if anyone is going to destroy the world even if it appears that fools in  high offices have death wishes. These are older men who feel the need to send young men to war. This has happened for milleniums.  If you avoid being drawn into that paradigm your life will be considerable easier. Opportunities will increase exponentially.  Try to avoid fights not of your own making. They are immensely draining on your resources.
     This is a very small and extremely interconnected planet in other ways.   The New World Order, Bilderbergers,  Agenda 21 or the other spooks that lurk in the dark can be defeated by education, awareness and even non violent action if enough people are willing to tear off the curtains and shrouds of the evilness of these people we all see in our studies. These groups are populated by old men and women who will die off soon enough. If we wait them out or expose them for the evil frauds they are, we win.   There are more of us than them. 
    Good will prevail even if the reset and reboot of our civilizations are wrenching. Learning another language like Portugese, Spanish or Mandarin would be helpful, depending on where your talents and desires take you.
    Far worse has happened in our short history as a country. The Civil War comes to mind. It’s my belief that we will evolve past our baser instincts if enough people wake up to the fact that they have powerful voices. Those voices can make a  world of difference. Your generation has the opportunity to make this change since the internet and communications make your voice a substantive force in consciousness, awareness and the absolute intention of not allowing forces of evil to walk this earth. I read your posts. You think critically, connect the dots and draw conclusions that are worthy of someone much older than you.

    Churchill may have been one of the wisest men of the 20th Century. Raised and educated in Canada, we studied the great men of our time.  One leader that always had my attention was Churchill.  He was a man of immense talents and indefatigable energy.  Aside  from his skills  as a statesman, soldier and leader, he was a student of history. He lived in times of great tumult. He made some history of his own.
    In the darkest days of World II his morale and will never wavered.  He noted that despite the darkness that appeared to descend over the entire  world, he also knew that in the  great upward arc of human endeavor, growth and accomplishment, the scourges of Nazism, fascism and communism were just  minor set backs and would soon be put behind us.  I paraphrased his words but the intent is the same. 
    Be of good cheer and study voraciously everything you can find regarding our present dilemma. You’ll find it has happened time and time again and we always muddled through, given enough time to reflect on the errors of our ways. Be of good cheer and optimism.

  7. PS Sumkid  You didn’t create the financial tsunami I mentioned above. With a tsunami, you have plenty of warning to avoid it.
    Go to high ground. Leave the area. 
    The tsunami will come and do its damage   That’s does not mean you have to be around when it hits. Just keep your eyes open and have good situational awareness.

    • @AGXIIK That’s why I ask advices from people who are born in the older generation. Especially from people who are 80 to 90 years old. Even if Canada’s economy would collapse along with the USA, I think Canada would create another better economy very fast because there are a lot of untouched resources in the north. Other than Canada, Asian countries are good places to live in so that we can have good financial situation. I heard that in South Asia, silver is really cheap to buy. It cost about 0.90$ per gram of pure silver right now! Yes, we can create a peaceful revolution by simply buying physical silver so that we will not be accepting the elites’ corrupted paper currencies. So, thank you for your information!

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