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March 22, 2023 - Health Ranger - Mike Adams
25:31
Pensions and social security will be WIPED OUT by inflation (it has begun)
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Allow me to explain exactly how the pension wipeout is already taking place in America.
And I want to thank the listener who sent me a statement that she just received from her state pension fund.
I guess it was an educational institution pension that's administered by the state.
And this woman, her husband had passed away more than 10 years ago and she was continuing to collect money Quite a decent little chunk of money from her husband's work with the school system.
And then she got the following letter.
I'm not going to read you the letter.
I don't even have it in my hands.
But I read it, and I'm going to relay the essence of it.
And here it is.
By state law, the cost of living adjustment, or the COLA, for how much pension money you get each year can only go up a maximum of 5% per year.
Now, we're living in times of inflation over 20%, right?
The dollar's losing about 2% per month.
But the pension funds will only go up 5% per year maximum in this state.
And of course, that number varies from state to state.
Different states have different laws surrounding this.
But 5% per year max.
So obviously, as time goes on, and as more money printing takes place, and as inflation rates go higher and higher because of dollar devaluation, this 5% increase is, you know, it's a joke.
Your cost of living, your actual cost of living, has probably gone up 20% to 25% in the last year.
And it's going to continue to do that, and it might even go up 30% or more in the next year.
Or let's say this year.
So 5% isn't going to cover much, is it?
With each passing year, it's worth less and less.
But the other thing that was important in this letter was that the maximum lifetime increase of the benefit payout is set, it's limited to 80%.
So whatever the first check was, which in this woman's case, I'm not going to give her name, so I don't mind giving you the numbers, she received about...
I don't know, something like $2,000 a month many years ago as the benefit payout began.
But then now it's limited to a maximum cumulative 80% increase in the payout.
And that 80%, it doesn't mean 5% per year times, what, 16 years.
It means 80% cumulative compounded increase.
So in other words, even if you get 5% per year, you know, you got to take 1.05 times 1.05 for the second year times another 1.05 for the third year and so on.
And when that number reaches 1.8, that's it.
So it's less than 16 years.
And then the maximum payout is going to be $3,600 because that's the 80%.
Boom.
That's it.
You're never going to get more than $3,600.
Even though, of course, the costs of living continue to increase now at more than 20% per year.
So, as I've said, and even as Peter Schiff said in a recent interview, remember, he said, I was asking him, will the banks fail?
And he said, no, the banks won't fail.
Your money in the banks will fail.
Your money will fail, or currency, technically, as we're talking about here.
Well, the pensions will fail for the same reason.
The pensions won't necessarily fail all at once overnight, like, oh, you don't get any more money.
No, you may still get your checks.
They will just become increasingly worthless as inflation takes hold.
And the caps are reached because a lot of these payouts, these pension programs, have caps on the total benefit.
Like I said, 80%.
In this case, that's going to vary state by state or institution to institution.
But you're going to hit a cap and then that's it.
You don't get any more.
So if you're getting $3,600 a month right now and you're a retired person, that's a pretty decent chunk.
You can do something with that, right?
You might be able to pay rent with that.
Will you be able to pay rent with $3,600 in four years or five years?
No.
Not a chance.
That money may only be worth what $1,000 would buy you today.
See?
So the pensions are becoming more and more worthless with each passing year to the point where Maybe now you can pay rent with it, and then a couple years down the road, maybe you can pay your car insurance with it.
And then a couple years later, maybe you can buy lunch.
And then a couple years later, it's like, ah, can't even get a cup of coffee for this, you know?
That's where it's going.
Because we're entering the realm of eventually hyperinflation.
Or right now, just accelerated inflation that's headed to hyperinflation.
And why is there inflation?
Well, because of the money printing, obviously, because of the bailouts of Silicon Valley Bank, which Janet Yellen says no taxpayer is going to be charged any money to bail out Silicon Valley Bank.
Really?
Are you kidding me?
Where's the money coming from?
Oh, it's coming from other banks.
Well, where those banks get the money?
Oh, they're charging the account holders, but the FDIC is running out of money.
So when the FDIC needs more money, where does it get the money?
The Federal Reserve is going to print it, folks, just...
Janet Yellen knows this more than anyone.
She was at the Federal Reserve before she was at the Treasury.
You know, talk about the double agent.
She's a double agent.
She knows they're just going to print money to bail out all the banks.
So that means that your money is going to be worth less and less and less.
And the actual cost of living, which everybody can see now, I mean, just go out and buy groceries, and you'll see the actual cost of living is skyrocketing.
It's crazy.
Someone was talking to me about pillowcases.
They were showing me this package of two pillowcases.
I think it had a 650 thread count.
And these two pillowcases were sold at a department store.
And you know what the retail price on these two pillowcases was?
And they were just cotton, by the way.
They're not even organic.
It wasn't silk or anything.
It was just cotton.
You know what the price was of two pillowcases?
$150.
Like, are you out of your mind?
Who would pay $150 for two pillowcases?
Man, if I need a pillowcase, and that was the only choice, I'd just take a shirt off the shelf and stuff that pillow in a t-shirt, sleep on that, that's good enough.
Jeez, $150?
Out of your mind?
But how did two pillowcases become so expensive that they cost $150?
Well, yeah, it was a luxury brand, you know, it was a premium brand, and it's wildly overpriced, but still...
$75 per pillowcase?
How did it even get there?
The answer is mad money printing.
And that's not stopping anytime soon.
In fact, by any rational measure, the money printing is going to accelerate to a crazy degree.
They're going to print and print and print because they're going to have to bail and bail and bail.
And then, you know, at some point, you hit a problem that's too big to bail.
In fact, Bob Moriarty, who I'm going to interview here coming up soon, he told a really funny story on another interview that I was listening to.
I love Bob Moriarty's sense of humor.
He and I have the same kind of dry sense of humor.
He said, I want you to take a bucket down to the ocean side, down to the beach.
Take a bucket, and I want you to dip that bucket into the ocean water and get a bucket full of water and take it out of the ocean, and then I want you to look at the ocean and notice something.
And the person over here is like, what are you supposed to notice?
And Bob says, I want you to notice some things are too big to bail.
It's like, you go, Bob.
You got it.
Exactly.
Some things are too big to bail.
And we're fast approaching that moment with the banks.
Folks, you can print and print and print for a while, and then at some point, nobody wants your money anymore.
Nobody wants it.
Not the other nations, the other countries, nobody.
In fact, there was news yesterday...
I've got to read for you.
This is out of the hedge that Putin met with Xi and said, quote, you know, we support Chinese yuan use with Asia, Africa, Latin America, right?
So, and I covered this in my studio broadcast too, but Russia and China are getting together with the other countries in the world and saying we don't need the dollar.
Well, if they don't need the dollar, then where's the dollar demand?
Globally.
It's evaporating.
And if nobody demands the dollars, then the Federal Reserve can't just keep printing dollars and selling them to suckers because nobody wants them anymore.
And when that happens, what are we going to do here?
Is the Fed going to buy the Treasury debt that's created by the Fed printing debt instruments and lending them to the Treasury?
I mean, this is like a snake eating its own tail, swallowing itself.
This is going to end badly.
Hyperinflation is the inevitable result because there are only two choices at this point in the economy.
There are only two choices.
Either the powers that be have to allow failed banks to fail and allow failed businesses to fail and failed ideas to fail, i.e., climate change, transgenderism, you know, magical monetary theory, all this stuff.
They either have to allow things to fail, which they won't do, or they're going to print until the end.
They're going to print and print until it's over.
That's the outcome that we're going to experience.
There's no question about it at this point.
This is going to end in hyperinflation, a total collapse of the dollar currency.
So people that are collecting pensions, whatever that check is right now, it might be $2,000 a month, it might be $5,000 a month.
What's a dollar going to be worth in another year or two years or three years?
Increasingly, it goes to zero and at some point it is zero.
This is why I've said to people privately that you shouldn't contribute to pension programs.
Now, don't take this as personalized financial advice.
It's not.
This is just my own private opinion with private conversations with private individuals.
But I've told people who asked, you shouldn't contribute to pension programs.
You should just buy gold with it.
If you buy gold, And then the years go by, the gold gets more and more valuable in terms of the dollars because the dollars are becoming less and less valuable.
And the gold is still there even if the state pension program goes belly up, which it will.
The gold is still there even if your pension program gets slashed, you know, kind of a reorganization.
You know, everybody's going to have to take a haircut, they like to say.
Haircut?
I thought we earned this money.
Now, what do you mean haircut?
Where's my money?
If you had bought gold with it, the gold would be sitting in your vault or wherever you hide it.
Funny story yesterday, if you want more details, listen to yesterday's podcast.
But gold holds value.
I mean, think about it.
If you had bought gold back in 1971, what was gold then?
Like $35 an ounce or something?
If you had bought gold and sat on it versus buying, just having dollars and burying the dollars, I mean, let's say you bought $10,000 worth of gold back then.
How many ounces would that be?
Let's do the math.
That would be 286 ounces, basically, of gold.
All right?
286 ounces.
Remember, we're talking about $10,000.
286 ounces of gold would be worth today $572,000.
You would have half a million dollars in gold today.
But if you had taken $10,000 in cash and buried that, and then you dug up the cash today, you would just have $10,000 in cash today.
Which is a massive loss compared to the value of the gold that you would have.
Again, over half a million dollars in gold.
In fact, in every retirement contribution and payout that I've looked at, pensions, retirement, whatever, in every case that I've seen, everybody would have been better just having gold.
Just buying gold and sitting on it.
Like literally sitting on it and doing nothing.
They would have earned more than buying stocks, Or pension contributions or investment bonds or whatever.
The gold would be worth more and that's with gold prices suppressed.
Imagine with gold prices where they are probably going at some point here.
Imagine how much more those early gold purchases would be worth later on if gold prices skyrocket, you see?
So These pension programs, they say, oh, you should just contribute $100 every paycheck into this retirement program, this IRA, this Roth IRA, this pension thing.
As far as I'm concerned, folks, and I know I might get some pushback on this, these are all traps.
They're all bad decisions because nobody's calculating inflation.
Inflation destroys the value of all those dollars that you're doing and you're punching on your little calculator.
You're going to be rich.
No, you're not.
You're going to be broke because the dollars become worth nothing.
It doesn't matter how many of them you have.
They're worth nothing or approaching nothing.
So you've got to get into things that hold value, not things that lose value.
It's so funny to me.
People are like, I'm going to buy this insurance program and it's going to compound and it's going to grow and it's going to equity expansion and then it's going to cash out and I'm going to have all this money.
No, you're not.
The whole system is going to freaking crater.
You're not going to have anything.
What, you trust a monthly statement you got on a piece of paper?
Your account is now worth $57,600.
No, it's ink on a piece of paper, folks.
There's nothing there.
It's a facade, understand?
It's an illusion.
You don't have anything but a piece of paper.
I mean, this is the lesson that everybody should be learning right now.
And I've said it before.
If you log in on a screen and you see numbers, oh, look, I got these numbers.
It's just numbers.
How do you know you're going to get any of that?
Just ask Silicon Valley Bank or Credit Suisse bondholders, huh?
$17 billion worth of those bonds just got zeroed.
I mean, last week, those people logged in.
It's like, yeah, I got a million dollars in bonds.
And today they log in.
It's like, oh, and it's gone.
That's what just happened.
If you don't have it in your hands, it doesn't really count.
Or I should say in your control, in your sphere of control, whatever that may be.
It doesn't count.
So many things are going to zero.
But a lot of people, they like to fool themselves and trick themselves.
It's compounding.
It's going to be awesome.
No, it's not.
You're going to be broke.
You know what's going to have value?
You know, beans and bullets and bandage.
You know, the triple B's right there.
It's a survival tranche, in case you were curious.
Triple B plus.
No, real stuff is going to have value, and that's going to go up in value.
And, you know, we've talked about this quite a lot.
I just wanted you to think about this from the pension point of view.
A lot of you listening to this, you may be collecting pensions, and you're like, well, there's nothing I can do.
You know, I can't cash out the pension.
I understand.
I totally understand.
You can't force them to pay you in advance, right?
They're just gonna send you a check and there's nothing you can do about it.
The dollars that are represented in that check are just gonna be increasingly worthless month after month.
Nothing you can do, but you can plan for the purchasing power of those dollars to go to zero.
You can plan accordingly.
Perhaps you could take a percentage of your pension money and you could put it into something that holds value, perhaps.
You know, so many people are trying to get out of the banking system.
I even saw that Bitcoin went up.
It's like 28,000 now or something in that range.
It was down at one point below 19,000.
It's gone up quite substantially.
Why?
Because people are heading for the exits out of the banking system.
Yeah, some people are buying Bitcoin, which is not necessarily irrational in some degree.
I've talked about it.
You know, Bitcoin's portable.
Transaction speeds are very high.
I don't think you should speculate in crypto, nor do I think you should speculate in gold or speculate in anything right now.
These are very risky times.
But in terms of portability, certain types of crypto have some real advantages.
I've talked about Monero and XMR, and it has privacy built in as well, because Bitcoin doesn't.
But there are rational reasons to buy real estate or bullets, frankly, or gold or whatever.
There are rational reasons to do so.
And if you're living on a pension, plan to live without it if you can.
Plan to live without it.
Because it may not be there much longer, or even if you get it, it may not be worth much.
And by the way, the same is true with Social Security.
Social Security checks that people are receiving, you think the government's going to be honest about the actual rate of inflation?
You think they're going to raise those checks 20% a year?
Or 30% or 40%?
No.
They're going to claim inflation is only like 6% or something.
And that's what they're going to give you as your cost of living adjustment or increase.
That's it.
So your Social Security, I mean, they stole it out of your paycheck for your entire working life.
It was a giant con, but it wasn't a con that you consented to.
They stole it from you.
It was a confiscation by the government.
They took it from you.
And then they claim they're going to give it back to you, but they're going to give it back to you in dollars that are worthless.
See?
What an incredible, massive government theft.
The government committed 100 million felonies by stealing money from people.
It's like being mugged on the street, except it's give me all your money on every paycheck for as long as you work.
And then we'll rip you off when we claim to give it back to you.
Because by that time, dollars will be worthless.
That's the way the government operates.
They know the more money they print, the easier it is for them to pay people off with worthless dollars.
It's all by design.
And just to make sure you don't complain about it, they're trying to kill everybody off with the vaccines.
Die early and don't collect.
That's their goal.
Kill everybody off and then maybe Social Security might become solvent if nobody's left to collect.
Seriously, this is part of their plan.
Bottom line, folks, be smart.
Don't be popular.
In other words, don't go with the flow of the morons.
All kinds of morons that are going to run off a cliff, and they're going to keep their bets in banks and dollars, and they're going to lose everything.
They're playing, I don't know, Russian roulette with their money, except that five out of six chambers are loaded, you know, and they're rolling the chamber, like clickety-click, kabam, boom, your dollars are gone.
Don't play that game.
It's a suicide mission.
Be smart.
Right now, you can still translate money in the system into something else.
You can make up your own decision about what's right for you.
What holds value for you.
What holds value in your region?
What holds value in a collapsed economy?
I mean, I've done entire books on topics related to this, like the Global Reset Survival Guide.
If you want to download that, that's free.
GlobalReset.News.
Download the audiobook, the MP3 files.
You can hear the whole thing.
But I think I have a pretty good sense of what's going to hold value.
And I go over the list again and again and again because the list does not change.
It's the same things.
And I'm not even going to say it here because you already know what those things are.
So do what's right for you.
Have something that holds value as the system craters because inflation will wipe out the pensions.
Inflation will wipe out the middle class.
Inflation will wipe out savings.
And inflation will wipe out Social Security.
You and I, all of us, will have nothing left to live on other than the things we got out of the system, out of the conventional dollar-denominated banking system.
All that's going to zero.
Everything outside that system is what we will live on for the rest of our lives.
That's, I think, the proper way to plan for this.
Think about how much you need outside the system that you can then access or translate, whether it's crypto or metals or bullets or land or whatever.
I don't know.
Don't you wish there were a really high-density store of value that you could just add to it at any time and it wouldn't get bigger and heavier?
Like, if you try to put a lot of money in silver, it becomes cumbersome.
You know, you can't carry around $100,000 in silver very easily.
I know a lot of you listening, you have a lot more money than that, and so maybe you're going into gold.
Well, you know, you can only carry so much gold, too, if you're that wealthy.
And then what do you do?
I mean, platinum's not more valuable than gold at the moment.
What do you do?
You stock up on iridium or something?
And how are you going to find a buyer for that, right?
I don't know the answer to that.
Gold seems to be one of the best portable options out there.
Like wealth density in gold is very, very high.
So if you have a better idea, let me know.
I mean, some of you are going to say crypto, crypto.
Okay, I get it.
Yeah, you can put millions of dollars in crypto and you can put it on a thumb drive or just memorize the password and you're good.
I get it.
But it's not, you know, not quite as certain as gold or anything that's physical and real.
But, I don't know.
You decide what's right for you.
I welcome your suggestions.
Put your comments below this podcast on brighttown.com and, better yet, post your own videos on brighttown.com.
Maybe you have a way better idea.
Maybe, in fact, you know, one has just come to mind.
There are companies out there that will buy They will buy your pension payouts.
Did you know that?
Or they'll buy any kind of ongoing payout that you have.
They'll give you money today so that they collect your pension checks from here forward.
I don't know who these companies are.
I've just heard of this.
And what if you...
Worked with one of those companies.
You've got to pay out today and then you use that money to get out of the system.
The question is, would that, whatever asset you bought, would that be worth more in the long run than staying in the pension collection business?
I don't know.
But you could do the math on that.
It's something to think about.
There might be people that would give you, you know, a premium today, obviously at a discount.
So that they can collect your pension for X number of years.
So, I don't know.
Check it out.
Give me your suggestions.
Maybe somebody's got a better idea than what I've come across.
But we're all going to have to scramble.
Got to be nimble.
We need to adapt because the dollars are becoming worthless.
That you can count on.
Thanks for listening.
You can catch more of my podcasts on brighttown.com and also my articles on naturalnews.com.
And coming up soon, launching Brighteon Broadcast News at brighteon.news.
So check it out.
Thank you for your support.
Take care.
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