DO YOU LIVE OFF A PENSION? NOT FOR LONG!…” for what I see coming, I recommend anyone who can to get out of the US now while they still can.”

Wednesday, June 3, 2015
By Paul Martin

JEFF BERWICK
DollarVigilante.com
MAY 28, 2015

One of the most difficult things for me, personally, is seeing what is going on, knowing (more or less) where it is going and then talking to people who have no idea what is going on and are absolutely unprepared.

I often receive messages via email, through our website or on places like Facebook, which say, “I currently live in the US and survive on a pension that pays me $3,000/month which doesn’t go very far in the US and so I want to look at expatriating to a cheaper and nicer locale, what should I do?”

Of course, for what I see coming, I recommend anyone who can to get out of the US now while they still can. But, in the case of those on pensions, I fear that they are being irrationally comfortable that their pension will still exist even a year or two from now. And, because of that, I fear they may move somewhere and just find themselves in a new place, unable to speak the local language, without a group of trusted friends and family around them, who are dead broke… penniless. I have visions of American street people, homeless, around the world, begging for money. Of course, that’s a big reason why we have set-up TDV Groups, which is a worldwide network of libertarian expats, to help… but I think people are being far too casual in presuming their pensions will just keep rolling in for a long time to come.

First, obviously, is that I don’t expect the US dollar to be around in its current form in the next few years. We’ve covered here for the last five years how the US dollar is one or two black swans from being turned into toilet paper, like in Venezuela.

Secondly, though, is that most pension funds are or will be in serious trouble. Certainly Social Security (or as it should be called, Socialist Insecurity) is already bankrupt. It is a true ponzie scheme now that only can pay out because the government continues to take in money from those who will never see a Social Security cheque. That is the true definition of a ponzi scheme.

The Rest…HERE

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