The Greatest Depression

Although it’s not official (which means government acknowledged), the U.S. is in a Great Depression that began in 2000 and has never really ended.

Oh, it was papered over with massive spending, debt and false confidence and false government reporting and wars, but the depression remained.

Our economic system is simply a confidence game. Our credit-based monetary system requires confidence to remain in a positive mode. Confidence is a perception of reality no matter what reality actually is. When money is credit, it is 100 percent confidence.

Confidence in government is at an all-time low. More and more people are awake to the fact that the system has failed. Why? Because of the mass greed based on the rot of fiat currency. Fiat currency brings not only financial collapse but also the destruction of moral order.

What’s next? Only the mass realization that the financial system and the rule of law are no longer functioning.

There is ample evidence there is a Greater Depression is underway:

  • One in six prime-age males has no job. In the 1960s, nearly 100 percent of the men between the ages of 25 and 54 worked. Of those not working, 83.5 percent of them have not worked in more than a year.
  • Real unemployment has hovered between 14 and 24 percent since late 2001. Those numbers equal unemployment numbers during the first Great Depression.
  • Real wages are lower than they were 30 years ago, while the cost of food, energy, medicine and housing has grown by 3.1 percent annually since the late 1980s.
  • There were 1.4 million fewer full-time, full-pay breadwinner jobs in August than there were in January 2001, despite an increase in population of more than 35 million people in that time.
  • The percentage of Americans on food stamps has grown from just over 6 percent in 2000 to more than 14 percent today.
  • More than 100 million Americans are dependent upon some form of federal welfare (not including Social Security or Medicare).
  • One in seven Americans rely on food pantries and local food service charities for food for themselves and their families. And food bank workers say the demand is increasing monthly and they are running out of food.

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Gold Seek

Various authors presenting analysis and commentary on the precious metals, economy and precious metals mining markets.