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Dec. 17, 2019 - Health Ranger - Mike Adams
13:49
Big Baada BOOM when the pension systems COLLAPSE in America
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Big Bada Boom.
You know what movie that's from?
That's a little trivia item, but Big Bada Boom.
That's what's going to happen when, oh my, when the pension system collapses in America.
Big, Big Bada Boom.
Going to be financial collapse, going to be people freaking out, running loose in the streets, especially in the cities.
And I'm thinking about California cities.
And I know that we still have a lot of users and fans and listeners and so on who live in California.
It's great.
But most of our fans live in areas outside the major cities, like Northern California or rural California.
The cities...
Are where you have the very high wages, think about this, for the public sector, law enforcement, police, firefighters, school teachers, think about LA and San Francisco and San Diego and Sacramento and so on.
Think about these wages.
I mean, a school teacher will earn $100,000 a year easily.
Some firefighters or fire administrators, public safety administrators, will earn $250,000 a year in California.
I know, it sounds crazy.
So they're building, then, you know, pensions based on these high wages, and the pensions are supposed to pay them out, these very, very high pension payouts, upon retirement.
Well, the pension programs are not going to survive.
The coming financial day of reckoning.
There will be a day of reckoning for the debt pyramid that continues to explode all across our world.
Runaway debt and then debt instruments that are built on other debt instruments ten layers deep.
The cascading layers of debt.
That will topple like a house of cards one day when, well, when there are no more suckers for the Ponzi scheme, basically.
And when that happens, the pension programs are going to collapse.
And the thing is, these municipal pensions and these state pensions, I'm talking about government employees here, these pensions by law have to pay out this pension money.
And cities like Chicago are already struggling just trying to meet their obligations.
I'm having a hard time with it.
Detroit as well and many others.
So you might ask, so how is this going to happen?
How are they going to meet those obligations?
And there are really only two ways they can do it.
Well, I guess there are three.
Okay.
One way, the first way, is they can go to court and negotiate reduced payouts.
And that's what they're doing in places like Chicago and Detroit and elsewhere.
So they'll say, well, okay, you're supposed to collect 100% of your money.
We're going to give you 50%.
And then a judge signs off on that and boom, your pension is cut by 50%.
Can they do it?
You bet they can.
And they will do it because they're going to be bankrupt.
I mean, they're already bankrupt.
It just hasn't quite hit the fan in a lot of these areas yet.
Second thing they can do Is they can beg the federal government for a national bailout.
This is going to happen soon, too.
You're going to see states like California and Illinois Financially collapsing and demanding a federal bailout.
Now, that's going to be a tough argument because taxpayers all across the country who don't live in Illinois or California, let's say, are going to say, why should we bail out the insane lunatic spending in places like California that offers, for example, free health care for illegal aliens who never even pay taxes?
Why should we in, you know, Arkansas or Oklahoma or Texas or wherever.
Why should we pay for California and its socialist payout entitlement programs that drove it to bankruptcy?
No, California should suffer its own bankruptcy.
That's going to be the argument, the debate.
So, will the federal government bail out these states?
I don't know.
Gosh, I hope not.
But then there's another option, the third option.
They can bail out the states by printing money Thereby causing price inflation, which means that the pensions will continue to pay out to the people.
But of course, the value of the dollars you're receiving in your pensions will be greatly reduced because of demonetization.
In other words, erosion of the value of the dollar combined with price inflation of the goods that you would purchase with those dollars.
So in other words, yeah, here, have your stinking pension, but guess what?
You can't buy anything with it anymore.
Yeah, you thought you were going to get $3,000 a month or whatever?
Okay, you're still going to get your $3,000, but it buys, I don't know, one shopping cart of groceries now, instead of making a monthly payment on a pretty nice house or something.
So yeah, you'll get your dollars.
The dollars just won't be worth anything.
One way or another, the pension payouts are going to be reduced in value.
You are not going to get what you're owed.
And this is especially true if you worked in places like California or Illinois or places where there have been very high payouts and promises that have been made.
Like in Michigan, promises have been made to all the government workers, promises that can't be kept.
Because it's easy to get elected saying, oh, we're going to take care of our teachers and firefighters and police officers.
We're going to take care of them and we're going to increase their wages and we're going to pay them more because we love our public servants, right?
It's easy to get elected saying those things.
What's hard is to actually find the money to make those payments.
And when you can't find the money, you have a crisis and you have only the three options that I've described here.
That's it.
Or I guess maybe there's a fourth option, just declare bankruptcy and then send the whole state to bankruptcy court and ask a judge to figure out what assets are remaining and how they should be divvied up.
And in that case, you're going to be lucky to get 20 cents on the dollar.
Not just 50, but maybe 20 cents.
One way or another, you're screwed.
So you might ask, wait a second, how can I defend myself against this?
I'm a pensioner, let's say, you listening to this.
You're owed a pension.
You're owed a retirement.
You earned it.
You put in the hours.
You put in the years.
You put up with the BS of the bureaucracy to get your pension.
They better damn well not steal it from you, right?
How are you going to avoid that?
Well, I can't...
Look, I'm not your financial advisor, but I'll tell you what I told a family member who did this.
In some pensions, you can take out your entire pension with a massive penalty, like a 50% penalty or sometimes more, 70% penalty.
You can get your money out or at least some advance of it, some kind of payout of it in cash today.
You take that money and you trade it for things that hold value, that are not subjected to tyrants and bureaucrats.
What are those things?
Gold bars in a safe in your home.
Gold, silver, precious metals, land.
It's the same answers that I've been repeating over and over again across many podcasts.
It's things that have real physical value.
Food producing land.
Land that's got water on it with a natural creek or a well or an artesian well, even better.
Farmland.
Gold and silver, like I said.
Things that have real value.
Firearms, ammunition, John Deere tractors, a thousand gallons of diesel in a tank on your farm.
These things have real value.
Some people say, oh, fine art.
Okay, if you want to be all snoopity-snobbity and drink your wine and cheese and look at your fine art and say, oh my God, it's so amazing.
Look at this expressionism.
Fine.
If you can find some sucker to buy that piece of garbage on canvas, go ahead, buy some fine art.
But personally, I don't think fine art has any practical use.
That's why I don't own any.
I've got gold, okay?
I've got land.
That's fine art to me.
Nothing finer than a bar gold.
You can call it art if you want.
In any case, your pensions won't be around, but you can, in some cases, trade your pensions for things that will not vanish.
Things that will still exist.
Things that can't be stolen from you by bureaucrats.
Because your pension is nothing more than an illusion.
It's just an IOU. It's a bunch of bureaucrats saying, yeah, we owe you this much money, but yeah, we're probably not going to pay you.
You're a sucker for thinking we will.
Yep, and you are.
In fact, you're a sucker for thinking that your balance in your bank, your checking account balance, that you're a sucker for thinking it's real.
It's just numbers on a screen.
It's not even real.
It doesn't mean anything until you convert it to something real.
Money's an illusion in most cases.
Like gold and silver are real.
They're physical.
In fact, they're elements on the table of elements.
I checked the table of elements recently.
I saw helium.
What else did I see?
Scandium.
I saw some scandium on there.
I saw muscovium.
I did not see dollar.
I didn't see the EU dollar on there.
I didn't see the US dollar.
I didn't see German marks.
I didn't see Japanese yen.
I didn't see the Chinese yuan.
I didn't see any currency on the table of elements.
You know why that is?
Because currencies are fake.
They will disappear.
Everything on the table of elements is here and...
We'll continue to exist unless it's a naturally decaying radioisotope, of course, that will decay to more stable isotopes.
But for everything that's stable on the table of elements, helium, carbon, nitrogen, oxygen, phosphorus, whatever, it's going to continue to exist and you can't destroy it and bureaucrats can't take it from you.
So if there are valuable elements, copper, titanium, I mean, even aluminum at some level...
Gold, silver, whatever.
These have inherent value.
And they always will.
Because they're on the table of elements.
And I didn't see fine art on the table of elements either, by the way.
Nope.
I didn't see museum quality art pieces on there.
I saw elements like lead and arsenic and mercury and magnesium, things like that.
And manganese, come to think of it.
Barium.
They will always be around.
So anyway, I'm trying to give you things to think about.
What will last and what will disappear?
Should be pretty easy to figure that out now if you just think about it.
So whatever can be taken from you and stolen by bureaucrats will be.
Keep that in mind.
Thanks for listening.
Mike Adams here, Health Ranger.
Check out my videos at brighteon.com and read my website at newstarget.com.
Take care.
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