Greenspan Admits Social Security is a "Big Lie"

My long time readers will know that for years now we have been warning people that our entire financial system is based on faith and trust.  It's not a secret.  Our money says right on it, "Backed by the full faith and confidence of the U.S. Treasury."

Cool!

So what happens when you and I work hard all week to get a paycheck from our employer?  Does our employer pay us in eggs or beef?  Nope.  Most of us get paid with an electronic paycheck that goes right into our checking account at Wells Fargo or US Bank.  Our hard labor and efforts are reduced to numbers and zeroes that are put in columns and allow us to transfer those numbers and zeroes to other people who have done work for us or sold us products...like eggs or beef.

Our current system ONLY works because we have FAITH and CONFIDENCE that those columns of zeroes will work tomorrow when we go to Cub Foods to buy eggs and beef.

There is a 100% certainty that one day the faith and confidence will evaporate....we just don't know when.

A prime example of the smoke and mirrors involved in the state of the monetary world can be seen in microcosm with a statement by the man who once headed one of the financial quandary's chief perpetrators.

Alan Greenspan, former chairman of the Federal Reserve, said a Social Security Trust Fund does not exist and that the U.S. is “way underestimating” the size of its national debt.

“The notion that we have a trust fund is nonsense – that trust fund has no meaning whatsoever... That means the trust fund is a meaningless instrument that has no function … it’s exactly the same thing as current expenses,” he said. ("Greenspan: Social Security Trust Fund 'Nonsense' and 'Meaningless,' Newsmax, 6/8/15)

Greenspan was saying with his characterization of what's been going on with Social Security for decades that it has been and is now all a big lie. There is no "trust fund" to guarantee Social Security payments to recipients. The program is subject to collapse at any moment of crisis.

The same vulnerability is true of the whole economic system of this nation and of the world--all nations of which are intricately linked to the U.S. economy in one way or another. The dollar, despite its problems and rumored problems to come, continues to sit atop the global monetary structure.

Our current money system began in 1971. It has survived many credit crunches since that time, but the currency is no longer backed by substantial gold reserves, because Nixon took the U.S. off the Gold Standard in that year. Paper currency, therefore, is based upon nothing more than a credit system--i.e., it is a system built on who is willing to give and receive credit based upon faith that the dollar, unbacked by tangible assets, has purchasing power.

Adding to the worrisome reality that any breach of this credit system along the way, in which the buying and selling would no longer be accepted in good faith--thus setting in motion a global financial collapse--is an even bigger, building problem.

As bad as the 2007-2008 financial collapse was, the next crisis could be very different. World-wide debt, again, based upon nothing but smoke and mirrors, according to experts, presents a recipe for economic cataclysm.

[A]ccording to a recent study by McKinsey, the world’s total debt (at least as officially recorded) now stands at $200 trillion – up $57 trillion since 2007. That’s 286% of global GDP… and far in excess of what the real economy can support.

At some point, a debt correction is inevitable. Debt expansions are always – always – followed by debt contractions. There is no other way. Debt cannot increase forever.

And when it happens, ZIRP and QE [manipulative monitary processes] will not be enough to reverse the process, because they are already running at open throttle. ("Literally, Your ATM Won’t Work," Bill Bonner Of Bonner And Partners, Zero Hedge 6/7/15)

Here;  http://www.raptureready.com/rap16.html

How would you change your life TODAY if you could see into the future and realize that the $1 million dollars you had worked your whole life to save...wouldn't buy you a carton of eggs 5 years, 10 years or 20 years from now?  Would you do something different?  Would you change your life in some way?  What if it was only 5 months?

There can be NO DOUBT that 99.99% of Americans have been swept into the END TIMES MONEY SNARE....and sadly that includes just about all of us who claim to be followers of Jesus Christ.  Money and wealth have become our FALSE IDOL.  We rely much more on our columns of zeroes than we do on our Bibles and the promises of Jesus.

Let me ask this question again;  IF we folks, who love Christ, knew that an economic meltdown was coming for America, and that meltdown would make our savings, 401k's, IRA's, ROTH IRA's, CD's, annuities and cash in our safes MEANINGLESS....BUT...we also knew that having such a meltdown would force MILLIONS of lost souls in America to turn to Jesus and find eternal salvation....would we pray for the destruction of this false idol in order that millions could live for eternity?

Hmmmm.....tough question for all of us.

I, for one, kind of like how my VISA card and Debit card can be swiped anywhere in the world to buy anything that my little heart desires!!  I like how Cub Foods and Walmart are both 10 miles away in any direction and that I can buy anything my heart desires 24 hours per day!!!  I LIKE IT!!!!

But what if in one day it all just evaporated?  Would I still love Jesus?  Would I still trust Him? Would I have some serious regrets?  Would I be terrified?

Friends, Jesus could come any day now.  His return to snatch His bride away to heaven is IMMINENT.  Nothing else has to happen for the trumpet to blow and put an immediate cessation to the AGE OF GRACE in which we have had the privilege to live in....BUT while we are certain that we will NEVER experience the wrath of God that will be poured out on the earth during the Great Tribulation, we certainly could see some very tough times in this country.

Back in 2007-2009 we all experienced the Great Recession...when Humpty Dumpty fell off the wall and cracked in about 10 places.  All the kings horses and all the kings men pulled out some serious super glue and ropes and pasted him up and pulled him back up on the wall.  NO ONE dares to look too closely at the glue job and NO ONE dares question how he is being balanced upon the wall....but HE WILL fall again...and when he does those 10 initial cracks could break into 600 irreparable  cracks. Will the kings horses and men be around to prop him up again?  Will they have enough glue?

The Bible tells us that one day in the future ALL THE WEALTH WILL VANISH...in ONE DAY.

How then shall we live?

Revelation 18
4 Then I heard another voice from heaven say:

“‘Come out of her, my people,’[b]
    so that you will not share in her sins,
    so that you will not receive any of her plagues;
5 for her sins are piled up to heaven,
    and God has remembered her crimes.
6 Give back to her as she has given;
    pay her back double for what she has done.
    Pour her a double portion from her own cup.
7 Give her as much torment and grief
    as the glory and luxury she gave herself.
In her heart she boasts,
    ‘I sit enthroned as queen.
I am not a widow;[c]
    I will never mourn.’
8 Therefore in one day her plagues will overtake her:
    death, mourning and famine.
She will be consumed by fire,
    for mighty is the Lord God who judges her.