The Coming Crisis – Loss of the Dollar as Reserve Currency, What Can You Do?

Some of you are cleansing your guilt for voting for Obama by citing that he DEFICIT has gone down. Yes, if you start from 2009 (that, only a little). No, if you start from 2008.  This DEFICIT reduction is way too insignificant to help the real trouble.

The ugly truth is, the operating DEBT has more than doubled since Obama took office. This is because the US is “printing” money at a rate of $65 billion a month. We are spending $200 million every hour, all borrowed money. Unemployment is at 12-13%, depending on who you listen to. The official figure, only counting those receiving unemployment benefits is 6%, is simply a cover up of the real unemployed.

More people than ever are on “disability.” Many have retired early, living on less than planned, and sealing their income to a much lower level. Much fewer people are working than ever before.

This economy is not in recovery. It is dwindling, and that is being papered over by our government with more DEBT. While the operating DEBT is around 18 trillion dollars, the unfunded liabilities added to the operating DEBT is said to be over 100 Trillion dollars. Your grandchildren won’t even be able to pay this off.

No country has ever done well by simply printing more money. You can’t borrow and spend your way to prosperity. This is not a theory. This is fact. No rationale can make borrowing and spending the solution to prosperity.

The federal government is considering a wealth tax. They are also considering confiscation of your retirement funds. They are not protecting us from terrorism since they have adopted this open border policy. Taxes are necessarily rising, since spending is out of control with no indication that congress or the executive branch will change this.  Businesses, the only agents of job creation, are being forced overseas by increased taxes and regulations.

Worse than any of this is that the US Dollar, the RESERVE CURRENCY of the world, it about to stop being the reserve currency. When that happens, we will see inflation in this country as never before.  Probably you’ve never thought about what a reserve currency is, or what it means for the country whose money  holds the reserve currency status in the world.  I suggest you educate your self.  Look up “reserve currency,” and “SDR.”  You may be shocked at what you find.  Basically, the US dollar is not likely to survive being the reserve currency much longer.   That means your dollar won’t be worth as much as it has been, by a long shot!

Most of this is just my opinion, but if you do a little search, you’ll find that this stuff is coming at us all, hard and fast. You might quibble with me over the details, dollar amounts, or terminology. That’s a waste of time.

As an individual, what should you do? All I can say is, get out of your personal debt. Pay it off. Find ways to invest in and protect assets that will last. There may be more you can do, I’ll leave that up to you. Most of all, put your trust in Jesus Christ as Lord and Savior, but don’t make that just a caveat for planning and acting on the plans.  Jesus expects us to care for one another, we can’t do that if we are foolishly or unnecessarily dependent on others.  Your wealth and prosperity are what give you the ability to care for yourself and others in meaningful ways.

You can do this, plan, educate yourself, follow through and depend on yourself because God has uniquely equipped you to do whatever challenges you.

Author: Rodney John Tombleson

Raised in Columbia basin of Oregon. High school class of 1971. Married, 1974 BA, 1980 MDiv', 1985 Currently retired. I needed an outlet for my thoughts, so I decided to try a little blogging.

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