Wyoming Prepares for Dollar Collapse, Constitutional Crisis & Revolution (GLD, UUP, UDN)
Dominique de Kevelioc de Bailleul: Wyoming legislatures have followed the lead of 13 other US states on Friday when it passed a bill outlining the state’s response to an economic of political crisis at the federal level of the United States.
House Bill 85 passed by a 5-to-2 vote to provide “a task force to study governmental continuity in case of a disruption in federal government operations,” according to the Casper Star Tribune. Get my next ALERT 100% FREE
A seven-member task force was commissioned by Wyoming politicians to submit an impact study as well as recommendations in the event of the following:
1) A US dollar collapse and contingency plan for the rapid deployment of a alternative state-issue currency.
2) Federal government incapacitation, nullification or overthrow
3) US Constitutional crisis
4) Need for coordination between Wyoming Governor, National Guard and federal troops
5) Disruption in food supplies
6) Disruption in energy supplies
In addition, the task force will submit by Dec. 1, 2012 a feasibility study for assembling its own standing army, including conscription of state residence.
“I don’t think there’s anyone in this room today what would come up here and say that this country is in good shape, that the world is stable and in good shape — because that is clearly not the case,” said Wyoming state Rep. Lorraine Quarberg, R-Thermopolis. “To put your head in the sand and think that nothing bad’s going to happen, and that we have no obligation to the citizens of the state of Wyoming to at least have the discussion, is not healthy.”
While the ‘mainstream media’ touts economic recovery, publicity of a growing potential of a dollar collapse (NYSEArca:UDN) from notable private sector experts such as Trends Research Institute Founder Gerald Celente, private economist John Williams, billionaire hedge fund manager Kyle Bass and money manager Marc Faber has steadily gained traction as the public and state legislatures become distrustful of ‘mainstream media’ (MSM) to adequately challenge seemingly incredulous federal government economic statistics.
“I am not interested in the garbage these government officials broadcast either they are lies or they are distrustful,” Marc Faber said in Sept. 2011. “You can’t trust them anymore because they produce statistics that are completely unrealistic.” Faber won’t put a date for a dollar collapse, but he has repeatedly warned that ultimately “the dollar is doomed.”
In January 2012, Trends Forecaster Celente told ABC Australia, “I would say, since I’ve been doing this work, over 30 years ago, I’ve never been more concerned [about the US dollar and euro] than I am right now,” adding that the global financial system “could “spiral out of control” some time “by the first quarter of 2012” as the European crisis worsens. “There’s no way to bail out the European nations.”
Kyle Bass, as well as many other private sector money managers, suggests that the European crisis, then, would spread to US banks, given that the global banking system between the Europe in the US is inextricably connected. If Europe fall, the US falls, too, though the MSM downplays the direness of the rapidly accelerating currency risk to the US dollar that would result of a crisis in the euro (or yen).
In fact, the risks to the dollar are so profound that economist John Williams makes a compelling case for the mathematical impossibility of the US ever recovering from hidden multi-trillion dollar deficits, forecast by him, for the remainder of the decade. The dollar would need to drop sharply lower from current levels for the US government to have any hope of paying its bills.
Like Faber, Williams has repeatedly stated that US government statistics regarding GDP, inflation, unemployment, total federal obligations and budget deficits are completely “meaningless.”
For example, federal government unfunded liabilities easily top $100 trillion (a staggering amount also estimated by Boston University Professor Laurence Kotlikoff), though only $15 trillion is ‘official’, while the unemployment rate is closer to 22 percent, not the 8.3 percent reported by the BLS, according to Williams.
“Risk remains high, though, of a sharp sell-off in the U.S. dollar and dumping of dollar-denominated paper assets, particularly as the euro area crises come to head and the damages are absorbed, in due course, by the global financial system,” Williams told King World News on Feb. 17.
Williams’ prediction of hyperinflation in the US “remains 2014, but events of the last year have accelerated the movement towards this ultimate dollar (NYSEArca:UUP) catastrophe,” and that the gold price (NYSEArca:GLD) will achieve multiple times its present price as the public panics into the precious metal during the US dollar hyperinflation process.
“The unfolding circumstance will encompass a complete loss in the purchasing power of the U.S. dollar; a collapse in the normal stream of U.S. commercial and economic activity; a collapse in the U.S. financial system, as we know it; and a likely realignment of the U.S. political environment,” he warned.
Wyoming has begun to prepare for the Williams scenario.
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