What Everyone Needs to Know About the Financial and Political Turmoil Right Now by Jeff Thomas for International Man
International Man: What types of risks — financial or otherwise — should people be aware of today?
Jeff Thomas: Well, much of the former free world, as we once knew it, is on the verge of collapse economically.
You have the U.S. after World War II suddenly taking over the world in production, and they were the future. A lot of countries got onboard: Europe, Canada, Australia, Japan. All those countries got on that particular train and did very well.
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But the U.S. went from being the greatest nation in the world in terms of manufacturing to losing almost all of that and became the foremost debtor nation in the world. Now the US may well be in a worse financial place than any country in the world.
It’s just that whatever collapse is going to occur, it hasn’t happened yet.
So, that shoe hasn’t dropped, but when it does, it won’t only be the U.S. that goes down, it will be all the other countries that are on that particular train.
So, what that means is that if you want to come out of this well, then you try to diversify yourself into those countries that are not going to be as directly affected.
For example, if you wanted to leave the U.S., you wouldn’t go to Japan because it’s going to give you just as much trouble. You might choose to go to Thailand, or you might choose to go to Uruguay. There are a number of places that you could choose where you’re still going to have quite a good life and, going forward, possibly an even better life than exists in those places now.
Historically, this is always true. If you look at history over thousands of years, there’s always some country going down and another country coming up. It’s just a question of timing; when something is about to collapse, you want to get out.
In 1938, for instance, many people left Germany. It’s the same thing now. It’s hard to accept that this is about to happen to the great US of A since it’s been number one for so long, but it’s reached its sell-by date.
International Man: What is it exactly that you are looking at that might lead to a collapse?
Jeff Thomas: Well, there’s going to be a major debt collapse. It’s inescapable at this point. You get to a tipping point where, even if it hasn’t occurred yet, it’s too late to fix it.
When you get countries at the point where they’re borrowing so much money that they can’t even pay the interest any longer yet are moving headlong to borrow more and offering their people increased entitlements, the money isn’t going to be there. It simply doesn’t exist. In that regard, it’s really a question of simple arithmetic. Do the numbers add up, or do they not?
