Oh that won't happen here

We Americans like to think we are immune from the financial collapses we see on the news...

Well guess what, it *has* happened here... 4 times!

BK #1 - 1789

 the Constitution was formed (amended?) so the states could sign on as security for the fed’s debts.

BK #2 - 1861

the Southern States said “No More” and wanted to secede rather than sign on to another pledging of assets to pay the federal governments debt.

BK #3 - the Biggie - In 1933, when the Federal Government went bankrupt, they passed EO 6102 (forbidding US Citizens to hold gold and/or gold certificates) and HJR 192 and pledged us as collateral to back the government debt.   

UCL did a great job of discussing HJR-192. I won't repeat their handiwork here.

BK #4 - 1993 - Republican James Traficant announces the bankruptcy of the US and is muzzled

The only solution: trans-continental wealth in real goods.

Real estate (protected by trusts) and real money (gold - the only currency acccepted worldwide) are your safe haven. Not dollars backed by a bankrupt goverment.


I would like to thank the people Understand Contract Law and You Win and Federal Postal Judge :David-Wynn: Miller (R.I.P.) for the data summarized in this article.