This number is so staggering that the average man on the street has difficulty
Sadly, the reality of the situation is bleak. This ballooning debt is completely unsustainable and cannot be repaid.
Remember, what cannot be repaid will not be repaid.
The US government is on a path towards total collapse.
The debt levels have gone over the cliff and like the infamous cartoon character Wile E. Coyote, it is only a matter of time before gravity takes hold and the economy comes crashing down.
Even more shocking is the fact that there are numbers even bleaker than those of the US debt level.
The Economic Collapse Blog has compiled a list of economic numbers that everyone should take the time to read and understand:
–$1,280,000,000,000 – Most people are really surprised when they hear this number. Right now, there is only 1.28 trillion dollars worth of U.S. currency floating around out there.
–$17,555,165,805,212.27 – This is the size of the U.S. national debt. It has grown by more than 10 trillion dollars over the past ten years.
–$32,000,000,000,000 – This is the total amount of money that the global elite have stashed in offshore banks (that we know about).
–$48,611,684,000,000 – This is the total exposure that Goldman Sachs has to derivatives contracts.
–$59,398,590,000,000 – This is the total amount of debt (government, corporate, consumer, etc.) in the U.S. financial system. 40 years ago, this number was just a little bit above 2 trillion dollars.
–$70,088,625,000,000 – This is the total exposure that JPMorgan Chase has to derivatives contracts.
–$71,830,000,000,000 – This is the approximate size of the GDP of the entire world.
–$75,000,000,000,000 – This is approximately the total exposure that German banking giant, Deutsche Bank, has to derivatives contracts.
–$100,000,000,000,000 – This is the total amount of government debt in the entire world. This amount has grown by $30 trillion just since mid-2007.
–$223,300,000,000,000 – This is the approximate size of the total amount of debt in the entire world.
–$236,637,271,000,000 – According to the U.S. government, this is the total exposure that the top 25 banks in the United States have to derivatives contracts. But those banks only have total assets of about 9.4 trillion dollars combined. In other words, the exposure of our largest banks to derivatives outweighs their total assets by a ratio of about 25 to 1.
–$710,000,000,000,000 to $1,500,000,000,000,000 – The estimates of the total notional value of all global derivatives contracts generally fall within this range. At the high end of the range, the ratio of derivatives exposure to global GDP is about 21 to 1.
After reading these numbers, read them again.
Take a moment to let reality sink in.
Since going off the gold standard, Western governments have entered into a Ponzi scheme-based economy.
The only savior for your finances will be precious metals.
Take a moment to consider that all the gold in the world is only worth $6,647,314,169,784.
A drop in the bucket compared to the numbers listed above.
If you read these numbers and believe that the government has a magical solution, then you live in a fantasy world.
These numbers point to one conclusion only.
An inevitable, eventual collapse.
This article is brought to your courtesy of The Silver Bug.
Related: Direxion Daily Small Cap Bear 3X Shares (NYSEARCA:TZA), Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ), Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA), Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS)