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This Is How the "American System" Was Corrupted and Destroyed : "By 1990, the total debt-to-GDP ratio in the U.S. had grown substantially to 2.6 times GDP. It reached 3.6 times by 2007 – even before the financial crisis. Today, total debt in the United States stands at $56 trillion – 3.8 times GDP. That's $180,000 in debt for every man, woman, and child in the United States. That's nearly $700,000 in debt per family in the United States." The interest on these debts is more than $3.5 trillion per year. To give you some idea how much money we're spending on interest alone... just consider the total budget of the U.S. federal government is also $3.5 trillion. Again, $3.5 trillion just covers the interest!   These debts are completely unaffordable. How many families in America do you know that can afford to finance and repay $700,000 in debt? Not many... Certainly not the "average" family...."

DailyWealth | Investment Newsletter, Advisory & Investment Analysis : "This Is How the 'American System' Was Corrupted and Destroyed By Porter Stansberry with Braden Copeland Tuesday, March 22, 2011 Who is the world's most influential investor?   Most people would say Warren Buffett. He is a living legend – probably the most successful investor in history. He is the CEO, chairman, and largest shareholder of Berkshire Hathaway, which controls more than $60 billion of publicly traded stocks and holds total assets of around $370 billion.... hat all changed in August 1971. Rather than cut the government's spending and raise interest rates to slow demands from our trading partners for bullion, President Nixon took us off the gold standard. From that point, our creditors had no legal claim to our gold reserves. And the banking system had nothing but the Federal Reserve to limit the creation of additional credit and money. You can see what happened next in t...