Former US Fed Chairman Exposes The US Government

When a former US Fed Chairman publicly exposes the US government’s deceptive strategy to “confiscate” Americans’ wealth and savings, it might be worth paying close attention to.

We’re talking about the Fed “maestro” himself, Alan Greenspan. And here’s what he said:

"Deficit spending is simply a scheme for the confiscation of wealth."

How exactly does that work? It’s simple: when Washington needs more capital, instead of taxing Americans outright in addition to the Federal taxes already in place, they simply issue more debt, which is basically creating new money out of thin air.

Injecting newly-created money into the system gives Washington the funds they need, but it also dilutes the dollar’s purchasing power. Your purchasing power.

So essentially, the government may not be directly confiscating your money, but they’re eroding its value as they “create” more money for themselves to spend. Washington gets the immediate benefit. Americans end up paying the price.

This practice has been in place for decades. It is now at a tipping point. Did you know that the US national debt accumulated a little over $19 Trillion last January? That’s a record-breaking figure.

To give you some context, try to guess how long it took the US to accumulate its first $1 Trillion in debt. It took more than 200 years.

Now ask yourself, how long did it take for Washington to rack up the last $1 Trillion. 50 years? 10 years? 5 years? No. It took only 14 MONTHS.

At this rate, it would almost seem absurd to say that deficit spending is merely on the rise. No, the rising trend is now so steep, it’s practically gone vertical.

If you think that sounds like an overstatement, just compare 200 years to 14 months in accumulating $1 Trillion in debt. That sounds more absurd. But that’s the reality every single American now has to face.

And the reality of this debt is killing the wealth and savings of the American public.

The Greenspan quote, uttered in 1966, is just as relevant then as it is today. Almost nothing has changed regarding this tricky means of monetary confiscation. The only big change is that we now have over $21 Trillion in national debt.

Are you protecting your wealth and savings from its accelerating loss in value? Are you protecting the underlying purchasing power of the assets in your IRA or 401(k)?

There’s only one effective way to protect yourself, and this advice comes from Alan Greenspan himself: buy gold. As the maestro states, "Gold stands in the way of this insidious process."

Converting your IRA or 401(k) into a "Self Directed" Gold IRA is the best way to protect its value from the deficit-fueled erosion.

Need more information? Check out our FREE book The Definitive Guide to a Self-Directed Retirement.

Our guide will show you how to make this conversion tax-free. And if you don’t want to convert your assets to gold 100%, our guide shows you different ways to allocate your portfolio across different asset classes to achieve inflationary protection, broad market diversification, and maximum growth potential.

Just bear in mind that the wealth and savings of the American public is being eroded faster than most think. Not convinced? Just visit the US National Debt Clock for a minute, and you’ll see what we’re talking about.

Bear in mind that the higher the figures get, the lower your purchasing power sinks.

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