05/19/10 Stockholm, Sweden – The US dollar has recently gained some strength due to its status as reserve currency of the world. Yet, hyperinflation still lurks around the corner as the Fed floods the economy with free money.
The below video from the National Inflation Association describes the many drains on US economic power, including Social Security, Medicare, Medicaid, and war.
The US National debt is already 12.8 trillion, but rises to $19.1 trillion if you include the Fannie Mae and Freddie Mac balance sheets. Worse yet, including Social Security, Medicare, and Medicaid, the debt is now $79.1 trillion… or 5.5 times the US GDP of $14.2 trillion.
Including an extensive discussion of the current gold and silver markets, it’s worth viewing every minute of the nearly one-hour viral video below.
Rocky Vega
Rocky Vega is publisher of Agora Financial International, where he advances the growth of Agora Financial publishing enterprises outside of the US. Previously, he was publisher of The Daily Reckoning, and founding publisher of both UrbanTurf and RFID Update -- which he ran from Brazil, Chile, and Puerto Rico -- as well as associate publisher of FierceFinance. Rocky has an honors MS from the Stockholm School of Economics and an honors BA from Harvard University, where he served on the board of directors for Let’s Go Publications, Harvard Student Agencies, and The Harvard Advocate.
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