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Could be so massively bankrupt, says Bill Bonner.
"We have a mountain of debt... nearly $100 trillion of it... every penny of which is counted as an “asset” on the creditors’ balance sheets. Probably only about half of it is ‘money good.’ The rest may go ‘poof’ in the credit cycle’s downturn.
The safest part of this pile is US Treasury bonds. And yet, in gold terms, we’ve seen that they lost 30% of their value in the last four years... and 75% since 1999.
And we have a GDP that is largely fraudulent... with as much as half of it directed, controlled or be-muddled by government, rendering it unfit...
It’s not just Treasury bonds that pretend to have value they don’t actually have. All across the fixed-return world, there are unrecognized losses and make-believe wealth.
Here’s the FDIC warning:
'Unrealized losses on available-for-sale and held-to-maturity securities increased by $39 billion to $517 billion in the first quarter. Higher unrealized losses on residential mortgage-backed securities, resulting from higher mortgage rates in the first quarter, drove the overall increase. This is the ninth straight quarter of unusually high unrealized losses since the Federal Reserve began to raise interest rates in first quarter 2022. '
Banks were required to hold US Treasury bonds as ‘reserves.’ That, they were told, would make them more antifragile. But it did just the opposite. Treasury bonds proved to be a terrible form of ‘reserve.’ They went down, in nominal terms, by about 20% since 2020. In gold terms, they lost half again as much.
The banks also had plenty of private debt that went bad. They lent heavily to real estate developers and speculators, for example. But now, commercial real estate is not worth what it was a few years ago.
In addition to the loan losses, there are the losses on the collateral itself. Green Street reports that the ‘all-property commercial index’ is down more than 20% since 2021."
In about ten hours the polls in Hungary open. Then, over the next 13 hours Hungarians will decide if they want a culture of life or a culture of death and slavery. Those stakes affect not just one nation, and not just one continent but the entire Western world.
If elected again, the current government of Viktor Orban will continue boldly down the path which will honor Christian Hungary’s thousand-year legacy of fighting for freedom. Orban will continue unashamedly to champion the case for a painstaking return to a European Christendom. He is setting the example of how that can be done, even in a land oppressed by decades by communism.
The alternative candidate is a feckless puppet of the popular globalist agenda, which will then sweep over Hungary like a storm, destroying Hungary’s progress, sovereignty, economy, freedom of speech and courageous governmental reforms. But most threatening of all is the plan to invalidate and annihilate all of Orban’s efforts to remind Hungary of ...
Fruitlessness. A new CDC report confirms America is now reproducing at the lowest rate in recorded history.
Since 2021, 80% of Americans were injected with a sterilization agent masquerading as a “vaccine.”
“We now have clear evidence that the COVID-19 mRNA shots have crippled the reproductive capacity of humanity.”
Nicolas Hulscher, MPH
“I pray Heaven to bestow the best of Blessings on this House and all that shall hereafter inhabit it. May none but honest and wise Men ever rule under this roof.”
John Adams (The first president to move into the White House)
Exodus 18:21
Furthermore, you shall select out of all the people able men who fear God, men of truth, those who hate dishonest gain; and you shall place these over them as leaders of thousands, of hundreds, of fifties and of tens.
