Seven Years

Social Security, Medicare, And Our Banking System Will All Fail Within Seven Years

In today’s Daily Journal, a free e-letter from Porter & Co., we’ll explore:

Those of you who’ve seen your investments in gold and silver soaring are probably pretty happy.

That’s understandable… But you should be worried.

What’s driving the price of these metals higher isn’t merely today’s inflation. It is the growing recognition of the world’s major banks that the U.S. dollar is no longer a suitable reserve currency.

Over the last 15 years, central banks (like Poland’s) have been buying more and more gold and selling U.S. Treasury bonds. Commercial banks will soon be doing the same. And that will start a global run out of Treasuries. When that happens, the banks still holding Treasuries will be wiped out. That’s why I’ve been warning about Bank of America (BAC) for years. Trust me, it will collapse.

The coming re-monetization of gold will trigger a collapse in America’s economy, led by the destruction of our banks and the end of Social Security and Medicare as we know them today.

These are not “someday” or maybe predictions. They will happen over the next seven years.

This scenario represents a deadly serious threat to anyone holding U.S. dollars in our banking system or anyone who depends on Social Security.

We are on the brink of a monetary catastrophe, fueled by reckless government spending, ballooning pension liabilities, and endless bailouts of a banking system addicted to easy credit.