Its All Been Done Before: ''Everything that is currently going on in the US has already happened twice in the last century in the US''

By Jeff Berwick, The Dollar Vigilante..........read more from goldseek....

"The US Government, after installing the communist-fashioned Federal Reserve system in 1913, and the subsequent war it enabled, World War I, just a few months later, had already bankrupted itself by 1933. That was when the US Government had to confiscate gold and then devalue the US dollar in order to survive. That was US bankruptcy #1.

Then after bankrupting itself during World War II and the Vietnam War, the US was again bankrupt and the only way to salvage itself was to remove all gold backing from the Federal Reserve Note and go to an unbacked fiat currency on August 15, 1971. That was US bankruptcy #2.

What will it be this time? If all of the actions of the US Government and the Federal Reserve for decades is any indication, this collapse will occur with a hyperinflation of the Federal Reserve Note. It's either that or a US Government default that will have very similar results, at least in the short term. Complete obliteration of the economy and of life as we know it in the US and for much of the western world."