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Don’t Move to These States; They’re in Serious Financial Trouble April 11, 2017

Maybe you’re looking for a fresh start. Or perhaps you’re looking to find a different job, or you’re trying to get out of the city. Whatever the case may be, when you’re looking for a new place to live there’s a lot to consider. And if you’re thinking of crossing state lines to find a new home, there’s one vitally important detail that you need to think about and research.

Most people don’t consider this, but you should really look into the financial stability of any state that you’re thinking about moving to. If worse comes to worse, and the economy collapses, you want to make sure that the state you live in is fiscally responsible. States that have high debts and low credit ratings are living on the edge. Any major economic event could push them into bankruptcy.

That means pensions could go unfunded. Public services like law enforcement and firefighting would be understaffed. The infrastructure of the state would crumble, and public education would be decimated. Taxes would likely be increased, which would only exacerbate the financial problems of the state because businesses would leave, leading to more unemployment and a smaller tax base. Obviously, all of these factors could contribute to the risk of civil unrest.

In other words, any financial calamity that occurs at the national level, would be magnified at the state level.  The economy of these states would fall into a tailspin, which would make life for the average person exceedingly difficult.

So which states should you avoid? There are three factors you should look out for. There’s the amount of debt as a percentage of the state’s GDP, the amount of debt per person (debt per capita), and the state’s current credit rating.

The 10 states with the worst debt to GDP ratios are:

  • New York-22.71%
  • South Carolina-21.31%
  • Rhode Island-19.40%
  • Washington-18.83%
  • Florida-18.65%
  • Kentucky-18.50%
  • Illinois-18.45%
  • Connecticut-17.52%
  • California-17.18%
  • Pennsylvania-17.17%

The 10 states with the most debt per person are:

  • Massachusetts-$11,337.63
  • Connecticut-$9,297.33
  • Rhode Island-$8,919.27
  • Alaska-$8,516.41
  • New Jersey-$7,517.15
  • New York-$7,040.97
  • Hawaii-$6,194.64
  • New Hampshire-$6,152.00
  • Delaware-$5,962.86
  • Vermont-$5,259.69

And perhaps the most important factor is the credit rating of any given state. This gives you a good idea of how investors think a state will fare financially in the future, as opposed to a state’s current financial woes. According to credit rating agencies like Standard and Poor’s, as of last year the states with the five worst credit ratings are:

  • Illinois-BBB
  • New Jersey-A
  • Kentucky-A+
  • California-AA-
  • Connecticut-AA-

Though those ratings don’t look too bad, it’s important to keep in mind that those states have had sub-par credit ratings for a long time. There’s no indication that they’re going to get their act together any time soon, because they’ve been teetering on the edge for years. When the next wave of the economic collapse hits, these states (along with states that topped the first two lists, such as New York, Rhode Island, Massachusetts, South Carolina, and Connecticut) are going to be the first to feel the pain.

Think of it like this. If a storm arrived and threatened to flood a community, the homes that were built in low-lying areas are going to be underwater first. These states are like the houses near the river. So if you’re planning to move, look into the financial stability every state you’re considering, and seek higher ground.

Joshua Krause was born and raised in the Bay Area. He is a writer and researcher focused on principles of self-sufficiency and liberty at Ready Nutrition. You can follow Joshua’s work at our Facebook page or on his personal Twitter.

Joshua’s website is Strange Danger

This information has been made available by Ready Nutrition

Originally published April 11th, 2017
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Intelligence Insider: How To Protect Your Assets From Critical Infrastructure Failure February 1, 2017

cyber-warfare
Intelligence insider Jim Rickards has previously warned of asymmetric attacks using cyber warfare, financial warfare and domestic disasters involving chemical, biological or radiologicial events. The threat is multi-faceted and the consequences of such an attack, whether it takes the the form of state-sponsored cyber financial warfare or a rogue terrorist group detonating a dirty bomb, could act as a destabilizing event that wipes out everything from our power grid to the wealth stored in your digital financial profiles.

Having worked directly with intelligence agencies simulating and war-gaming the potential fall-out that could result, in his latest interview with Crush The Street Rickards explains the distinct Doomsday scenarios that could instantly collapse life as we know it in America today… and how to prepare for them.


These things are actually happening and your digital wealth is vulnerable to a number of calamities… critical infrastructure failures… whether it’s power grid, banking system, cyber financial warfare, etc.



(Watch At Youtube)

Last month cyber thieves figured out a way to steal $100 million from the central bank account of Bangladesh via the U.S. Federal Reserve. They could have gotten away with $900 million more had it not been for a small typo. The point, as Rickards notes, is that there is a realistic possibility of a much larger-scale attack that targets not a central bank, but the direct holdings of every bank account in America.

The only tool you have at your disposal to protect from such an attack, says Rickards, is gold:


You never want to go all in… I am saying that 10% of your wealth… put it into physical gold… put it in a safe place and that will be immune from power grid outages, exchange closures, digital asset seizures and cyber financial warfare.


And while the potential for a serious calamity that would affect our digital monetary systems is a compelling reason to own gold, in his book The New Case For Gold Rickards explains that a global monetary collapse is also in the cards. And that means gold could one day become the de facto global currency as confidence in a global economy awash in fiat money is lost.

In the interview Rickards takes on analysts who say that a currency cannot be backed in gold, arguing that supply of the precious metal through current official holdings, private holdings and existing gold mining operations is sufficient to support well managed currencies. And countries that refuse to follow sound money policies, he says, will simply have worthless currencies that will not be accepted on the world economic stage.


That’s the whole point of the gold standard… it’s to force governments and countries to do prudent things.

As it is now there’s no standard… there’s no enforcement mechanism… there’s nothing.

I’ve spoken to Ben Bernanke and the head of the IMF about it and they both used the same word to describe the international monetary system… it’s incoherent.


It appears that a gold standard is the end-game for countries like China and Russia considering that they have been aggressively accumulating the metal in recent years. And while the United States may maintain a monetary hegemony over global affairs right now, there will come a time when that will no longer be the case. With gold being used to back currencies, prudent monetary policy will be rewarded.


If people had confidence that you were doing the right thing they would happily sell you the gold…  if they lack that confidence [in your currency] they wouldn’t sell you the gold… but that is a market signal telling you you’ve got the wrong policies… you’ve lost the confidence of your citizens.


But we’re not there yet. A global monetary reset needs to happen first. And that means the government and Federal Reserve are going to stay the course, including quantitative easing for the people,  no matter how disastrous the next round of policies may be.

As Rickards suggests, this makes the case for $10,000 gold quite strong, because they will continue to push low or no interest rate policies while printing even more money to stem off a potentially deflationary environment.


Deflation is good for citizens… inflation is good for government. But if you’re fighting the government, the government will win in the long run even though it’s taking longer than they thought.

At the end of the day they’ll get the inflation… and you’ll be glad you have some gold. 


 

Check out Jim Rickards’ latest book The New Case For Gold.

For more interviews like this one visit CrushTheStreet.com. To learn how the smart money is positioning for gold’s bull run by acquiring precious metals assets click here.

Click here to subscribe: Join over one million monthly readers and receive breaking news, strategies, ideas and commentary.

This information has been made available by Ready Nutrition

Originally published February 1st, 2017
Comments Off on Intelligence Insider: How To Protect Your Assets From Critical Infrastructure Failure

Intelligence Insider: How To Protect Your Assets From Critical Infrastructure Failure

cyber-warfare
Intelligence insider Jim Rickards has previously warned of asymmetric attacks using cyber warfare, financial warfare and domestic disasters involving chemical, biological or radiologicial events. The threat is multi-faceted and the consequences of such an attack, whether it takes the the form of state-sponsored cyber financial warfare or a rogue terrorist group detonating a dirty bomb, could act as a destabilizing event that wipes out everything from our power grid to the wealth stored in your digital financial profiles.

Having worked directly with intelligence agencies simulating and war-gaming the potential fall-out that could result, in his latest interview with Crush The Street Rickards explains the distinct Doomsday scenarios that could instantly collapse life as we know it in America today… and how to prepare for them.


These things are actually happening and your digital wealth is vulnerable to a number of calamities… critical infrastructure failures… whether it’s power grid, banking system, cyber financial warfare, etc.



(Watch At Youtube)

Last month cyber thieves figured out a way to steal $100 million from the central bank account of Bangladesh via the U.S. Federal Reserve. They could have gotten away with $900 million more had it not been for a small typo. The point, as Rickards notes, is that there is a realistic possibility of a much larger-scale attack that targets not a central bank, but the direct holdings of every bank account in America.

The only tool you have at your disposal to protect from such an attack, says Rickards, is gold:


You never want to go all in… I am saying that 10% of your wealth… put it into physical gold… put it in a safe place and that will be immune from power grid outages, exchange closures, digital asset seizures and cyber financial warfare.


And while the potential for a serious calamity that would affect our digital monetary systems is a compelling reason to own gold, in his book The New Case For Gold Rickards explains that a global monetary collapse is also in the cards. And that means gold could one day become the de facto global currency as confidence in a global economy awash in fiat money is lost.

In the interview Rickards takes on analysts who say that a currency cannot be backed in gold, arguing that supply of the precious metal through current official holdings, private holdings and existing gold mining operations is sufficient to support well managed currencies. And countries that refuse to follow sound money policies, he says, will simply have worthless currencies that will not be accepted on the world economic stage.


That’s the whole point of the gold standard… it’s to force governments and countries to do prudent things.

As it is now there’s no standard… there’s no enforcement mechanism… there’s nothing.

I’ve spoken to Ben Bernanke and the head of the IMF about it and they both used the same word to describe the international monetary system… it’s incoherent.


It appears that a gold standard is the end-game for countries like China and Russia considering that they have been aggressively accumulating the metal in recent years. And while the United States may maintain a monetary hegemony over global affairs right now, there will come a time when that will no longer be the case. With gold being used to back currencies, prudent monetary policy will be rewarded.


If people had confidence that you were doing the right thing they would happily sell you the gold…  if they lack that confidence [in your currency] they wouldn’t sell you the gold… but that is a market signal telling you you’ve got the wrong policies… you’ve lost the confidence of your citizens.


But we’re not there yet. A global monetary reset needs to happen first. And that means the government and Federal Reserve are going to stay the course, including quantitative easing for the people,  no matter how disastrous the next round of policies may be.

As Rickards suggests, this makes the case for $10,000 gold quite strong, because they will continue to push low or no interest rate policies while printing even more money to stem off a potentially deflationary environment.


Deflation is good for citizens… inflation is good for government. But if you’re fighting the government, the government will win in the long run even though it’s taking longer than they thought.

At the end of the day they’ll get the inflation… and you’ll be glad you have some gold. 


 

Check out Jim Rickards’ latest book The New Case For Gold.

For more interviews like this one visit CrushTheStreet.com. To learn how the smart money is positioning for gold’s bull run by acquiring precious metals assets click here.

Click here to subscribe: Join over one million monthly readers and receive breaking news, strategies, ideas and commentary.

This information has been made available by Ready Nutrition

Originally published February 1st, 2017
Comments Off on Intelligence Insider: How To Protect Your Assets From Critical Infrastructure Failure