10. Plan for a Smaller Social Security Check...Theres Trouble Ahead

Social Security Shortfall: Terry Sacka AAMS explains why the soon-to-be-retired should plan for a smaller Social Security check and what you can do right now to hedge your retirement against inflation and ever-decreasing interest rates. Learn about Buying Power

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Transcript

Terry Sacka AAMS: 0:05

This is RIGGED. I'm Terry Sacka, Today, I'd like to talk to you about why social security will be in trouble in the future. Now we talked in the past about inflation tax, but there's much more going on regarding to the banking system, the federal reserve and what all their actions will mean to the future of our buying power in our wealth. For starters, the entire economic expansion, since the great recession or great depression as I like to call it, they just didn't give you the truth of what really went down in 2008, that a risk of complete collapsing is now here, the banks have gone into such extraordinary leverage. There'll be no bailing them out reasonably during the COVID-19. They changed the rules to allow banks to no longer have cash reserves, meaning they're more insolvent than they ever were because you know that banks are in fractional banking, meaning you deposit a hundred dollars. They'll go loan out, you know,$10,000 off that hundred. That doesn't make sense, of course, because if you all went to the bank to get your money, it wouldn't be there. And there was a reason for that. They're all fractional. The global banking system is, is imploding in itself. Now they're rigging it to keep it going, but I contend it's not lasting. And if I'm going to be right within the next couple of two, three years, you're going to find out. But during that time, you're going to see extraordinary inflation tax on your savings and your wealth as why you need to be properly protected. But for starters, the entire economic expansion, since this time has really been nothing but money printing in inflation. Now, some corporations did some good, some small entrepreneurs started doing well until they came down with this entire narrative of COVID-19 crashing our economy. And these, these governors of these states shutting down their economy in extraordinary measure, destroying blue collar, destroying middle-class and destroying entrepreneurial-ism. And I really believe it was all done maliciously. A lot of this is driven by us economic activity, plunging the turmoil within the financial markets and the global pandemic narrative. All of this is in conjunction in a company by rapidly mounting risk of hyper inflationary. Well, many are not going to believe that, but hyper inflation is real, but the system is systemically rotting from the inside. Since last November, the federal reserve began bailing out the banking system. I spoke about this while were in holiday time now, which I find very convenient put on another conspiracy had there that the banking systems were collapsing globally. And then, Oh, there's the virus. But since last November, when the federal reserve was bailing out the banking system, we were all in holiday mode. So when they bailed the banks out in the repo market, which is the repurchasing market where banks go to borrow money from banks. Now, the reason the banks didn't have money to lend to each other is because the bigger banks were busy buying us treasuries to build a government out. That's something they're not telling you, but they bailed out the banks to the tune of$700 billion during this time. And in the meantime, the fed has created on the limited money, bailing out everyone that needs it and providing liquidity to the system. To date. Since November, we have bailed the banking system out to the tune of three point$5 trillion folks that is extraordinary, and that's not counting all the stimulus and the bailouts that Congress has done while the federal government has taken on the task of unlimited deficit spending and bailouts. It can only lead to complete destruction of your buying power and your savings to give you kind of an idea, the annual growth in the money supply, which they measure in a matrix known as M one and M two, as well as the shadows statistic one and three has continued to jump to astronomically, historical highs and the expansion accelerating through the month of may alone. Now, the issue is the ratio of a collapsing gross domestic product, the GDP to the exploding federal deficit that we have, and the debt that we're bringing on it's leading to the world's historic... Well, I think anyway, the world's historic ability of s eeing that the lower ability of the US economy to actually cover the U S government's obligation. And this is really important because once the world loses faith in the dollar, that's the last stage of seven stages of an empire. And typically the systems collapse, the GDP inventory changes suggest developing shortages in many areas. As the supply chain from goods, coming from China are stressed. They have an infinite amount of money creation chasing too few goods. This combination can absolutely attract trigger rapid and real inflation h as seen already with meat and other food, t he headline a s they call the consumer price index, you see i t a lot, t he CPI, which I call the CP lie because they don't measure same as the index, as they did in the nineties w ere really economics actually had models and they ran the real numbers. What they do is they like to take out things that are high inflation and put in things that are low inflationary to make the index look good, but it's not real. It's skewed. It's rigged. So you would take the inflation index in the United States from 1970. The last year gold was back in the U S dollar to date. The destruction of your wealth has been a whopping 561%. Unfortunately, in lieu of all the printing and peak economic worldwide, this destruction of your wealth is going to increase in increasingly grow. Now the really get to the truth. That 561% is the government's number of inflation over these years. Here's the real number that comes from the shadow stats. Alternate CPI inflation index since 1970 has been a whopping 4255%, 57%. I'm sorry. If you take then take the increase in the U S dollar price of gold since 1970, you'll see how it has risen 4314% more than the actual inflation number through the shadow stat. This is why owning precious metals is so valuable for saving and storage of value. Over time, since 1970 gold has actually outperformed the inflation index, which by the way, that's how it's supposed to work. Wait to see where it's going now and what you're saving and currency is not going to save you your future wealth or your inheritance to your children's children. The bottom line is gold and silver prices will remain the Canary in the coal mine of hyperinflation. It will be the inevitable deterioration of the U S dollar that is coming soon. You see real inflation is averaging 9% a year, way more than they're telling you on TV. The good news is we that people see it because we're all buying goods and services. So, you know, go buy a car battery, right? It used to be$60. Now it's 140 and on and on and on the federal reserve has now cut the interest rate to zero rapidly, of course, and there's no other place to go here, but negative, that's not good. We've never seen in our economy, a negative interest rate. What that means is you give them 9,000. They give you back eight that's negative. They take from you. And yet we have committed. The federal reserve is committed to bailing out all banks and financial institutions while changing the rules of accounting. So we, the people don't realize the destruction of our dollar and our buying power. You see China knows our financial situation, as well as the fact that the U S market is rigging the gold price. I can't stress how important that is that they understand this. There's a reason the Chinese and the Russians have been buying and storing up so much gold. I just don't understand why the American people are not doing the same. By the time most Americans come around to buying gold and silver, the goal will not be available and the silver will be so, so expensive. I really believe gold will be disappearing. And I'll tell you why. You've always heard that the lines. Well, you always heard this, that line that says don't fight the federal reserve. Well that's who may have a very different meaning for the long time asset gatherers and commission rakers, who spew the old phrases that just buying stock at the first sign of any easing of the central bank is a good thing. If Guggenheim investments global CIO, Scott Maynard is right, not fighting the fed may soon mean buying gold alongside with them. As he explores the Fed's increasing unorthodox to policy options. You see the federal reserve has numerous challenges, including the need to make a large scale asset purchases, AKA buying stocks that they have no right to buy in order to keep credit available as attractive rates and the face of a mega multimillion dollar budget deficit. The fed may be forced to buy gold, to maintain the appearance of responsibility as a reserve world currency, central banks around the world, including the fed hold almost 35,000 tons of gold reserve, and they own it and they're buying it. Let me put on my conspiracy hat. Well, I wrap this up for a moment. I won't be surprised if gold has 3,500 to 4,000 announce that once that does the government makes it harder to own. We may even have to turn in gold. If it belongs to another country, I'm sure they'll let us keep American goal. But we, as the people will find out that point. At one point there gold, almost impossible to find. I then believe we'll see gold rises to an astronomical level, and I will not be surprised to see gold at$50,000 an ounce. Now don't get too excited because you're not going to be able to own it. Probably it will be for the central banks to collateralize and leverage their debt. This is known as an asset shift, a definition of what an asset and a liability is. And I think America is getting ready to find out the hard way. And unfortunately, we, the people better heed the warning sooner than later. So many asks what will happen in the future to social security. I put it bluntly. What you really need to be asking is what we do receive, how much will it buy us? And more importantly, what are we doing with our savings and investments to help hedge against this extraordinary inflation tax that is coming. So until next time, God bless each and every one of you stay vigilant and heed.

Cornerstone Asset Metals: 12:14

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