If, like many, you are wondering what the future holds, I have a few thoughts. As you no doubt have noticed, an unusual number of now-former homeowners stopped paying their mortgages over the last few years. And not just in the United States, but in Europe, too. Real estate buyers promised to pay sellers (using credit administered by banks), but broke that promise.
Now take the whole idea of mortgage default one notch higher and apply it to a city, like San Bernardino, or a state, like California, or a country, like Greece (video). These entities, considered "sovereigns," are borrowers that promised to pay lenders over time, just like a mortgage. That's the bond market. San Bernardino sought bankruptcy protection; California can't go bankrupt because there's no legal mechanism to do so; and Greece just keeps lying, saying they will pay creditors back someday. But, in short, they all have broken or are about to break their promises.
Now take the idea of payments, generally, understanding that you use money to represent transfers of wealth. One promise the creators of money make is to keep the value of a dollar constant -- or at least, fairly constant. So you can plan. By mid-decade, that promise, the promise that the U.S. Dollar will be a secure, constant, and meaningful store of wealth, will be broken.
Doesn't matter why. Just consider what that means for you and your family, and for society at large.
And then join us. You must prepare today because it takes time to learn about how to protect yourself and your loved ones. We are working very hard to preserve the Civil Society. Because the Civil Society is us, each of us as individuals, who must choose that it be so.