We've just crossed the $14 trillion government debt level in the US....not including entitlement responsibilities of course...which place us well over $100 trillion in the hole. This debt cannot, and will never be repaid, leaving us in a financial future of rapidly rising interest rates and a crushed currency. But today, no one seems to care much about this...at least not as long as the FED and their bankers in crime have a chance to use leverage of about 40-1.

Both James Turk of GoldMoney.com and John Williams of ShadowStats.com, see hyperinflation looming by the end of 2011…

12/21 James Turk:

With gold and silver consolidating recent gains, King World News interviewed James Turk out of Spain. When asked about the action in both gold and silver Turk stated,

“Rising interest rates along with the surge in commodity prices that we have been seeing in the back half of this year is writing on the wall that hyperinflation is very near.· If anyone needs further proof just look at what QE2 is already doing.· The Fed is turning government debt that the market doesn’t want into currency which is the cause of all hyperinflation.”

12/11 John Williams:

One of the primary concerns for people who know a major collapse is coming is how to identify it when it is happening.  What are the signs?

“Sign number one is what governments do before a hyperinflationary collapse. If history is any guide, then the monetary actions of our Federal Reserve are a clear indicator. As Jon Stewart humorously pointed out recently, the Fed is “imagineering” money out of thin air.

This means more money in our overall money supply chasing fewer goods, which inevitably leads to higher prices.”

4/04 Richard Duncan

"There should be no confusion as to the origins of the global economic crisis that began in 2008. This crisis was set in motion in the 1960s, when policymakers in the United States abandoned the core principles of economic orthodoxy: balanced government budgets and sound money backed by gold.

Large budget deficits and the possibility of financing them with paper money fundamentally changed the way the economy functioned and brought about a worldwide transformation that, over time, has deindustrialized the United States and left it heavily in debt.

Paper money revolutionized all economic relationships by making credit abundant instead of scarce. In a complete break with the past, the government was no longer constrained in its ability to spend, and international trade was no longer required to balance. Economists, however, remained oblivious to this corruption of capitalism, and economic theory was left entirely unrevised.

Most damagingly, economists and policymakers continued to believe that “free trade” would continue to produce the same benefits under a paper money regime as it had under the gold standard. They altogether failed to notice as free trade evolved into something entirely different, debt-financed trade.

Moreover, they failed to grasp that debt-financed trade did not bring about the same permanent expansion of well-being as free trade, but instead permitted the development of extraordinary, debt-financed global imbalances that have thrown the world into a new depression now they have begun to come unwound.

The economic crisis confronting the United States—and, therefore, the world—is not cyclical. It is structural. The US economy is simply no longer viable as it is currently structured. The hard truth is that the United States produces very little that the rest of the world cannot buy much more cheaply from developing countries, where wage rates are 90% lower. The forces of globalization are hollowing out US industry and leaving the country incapable of producing as much as it consumes.

These trends will only accelerate in the years ahead so long as current policies continue and current misconceptions about the benefits of debt-financed trade under a paper money regime persist."

01/04 Kip Herriage on 2011 Predictions

Real estate prices will continue to fall....having resumed an increased speed with downward direction over the last 4 months....to new lows.

The unemployment picture will continue to worsen, and certainly as measured by the U6 figure, currently at 17%.

The US dollar will continue to decline, pushing gold, silver and oil into the stratosphere. Remember, every $1 increase in oil prices decreases the US gross domestic product (GDP) by $100 billion, and the same ratio applies to worldwide GDP declines as well.

While stock prices will likely continue to rise as long as we have a FED determined to throw fuel directly on the fire, this is an artificial and completely manipulated move higher. We are extremely overbought, and I (Kip Herriage) predict that there will be a geopolitical event in the coming weeks/months that reverse this bear market rally. 2011 will be a negative year for stocks and an incredibly bullish year for alternative investments.··

In just 2011, US and foreign governments must replace more than $5 trillion in maturing debt...not including the new debt sales that have to take place to fund their bankrupt existence.

The good news is that everyone reading this still has time to prepare for their financial future.  The "real" economy will not improve, however "real" investments will make us an incredible amount of money in 2011.

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