Jerry Robinson - Bankruptcy of our nation

First printing: March 2009

Second printing: April 2009

Revised and expanded edition: July 2012

Copyright 2009, 2012 by Jerry Robinson. All rights reserved. No part of this book may be used or reproduced in any manner whatsoever without written permission of the publisher, except in the case of brief quotations in articles and reviews. For information write:

New Leaf Press, P.O. Box 726, Green Forest, AR 72638

New Leaf Press is a division of the New Leaf Publishing Group, Inc.

ISBN: 978-0-89221-713-7

Library of Con gress Number: 2009923747

Cover by Thinkpen Design

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Unless otherwise noted, Scripture quotations are from the New King James Version of the Bible.

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Others are saying...

Jerry Robinsons conclusions about the state of the American Empire are spot on in Bankruptcy of Our Nation. Not only is Jerry a modern-day Copernicus when it comes to economic issues, but he has the moral fortitude to tell the truth in these challenging times which you will never get from the mainstream media.

Barry James Dyke

President of Castle Asset Management, LLC of Hampton, NH

Best-selling author, The Pirates of Manhattan I & II

Mr. Robinson has written a good history of the development of modern money systems with valuable specific practical recommendations based on the trajectory of that history. This is understandable history and practical investment advice in one volume. It will provide a valuable guide and positive investment returns to those who follow his well thought out advice.

Bud Conrad, chief economist, Casey Research

Author of Profiting from the Worlds Political Crisis

In his book, Bankruptcy of Our Nation , Jerry Robinson does an excellent job of explaining the Petrodollar system, which is the 1971 agreement between OPEC and the United States that, in return for military protection by the U.S., Middle Eastern oil-producing countries would accept only U.S. dollars for their oil and invest their profits in U.S. bonds. The present unraveling of this agreement will have a profound impact on the destruction of the U.S. dollar as the worlds reserve currency and that, in turn, will put the U.S. into bankruptcy. This book explains exactly how this will come about, but equally important is the comprehensive section on what you can do to protect yourself.

G. Edward Griffin, author, researcher, and filmmaker

Bankruptcy of Our Nation is a must read for anyone with any money in the stock market. Whether its in a brokerage account, 401K, IRA, Roth, wherever it is... this is the one book that needs to be on your reading list! As a financial advisor for the past 17 years, I have come to trust Jerry Robinsons timely advice and mission to educate the public about the hidden dangers in the U.S. and global economies.

Jerry, whom I have the honor and privilege of calling a friend, has put together a survival guide that will help steer you through what I believe will be a very tough road over the next several years. But in these hard times will come tremendous opportunity for those who are aware and ready to seize the moment. This is where Jerry delivers big time in Bankruptcy of Our Nation ! He helps readers create an action plan to thrive in the days ahead. He covers ground that the mainstream media wont touch and when they do it will be far too late. Now is the time to start planning ahead for a tumultuous fallout from the reckless actions of the Fed. Dont waste another second, do yourself and your family a favor and read this book today.

Jay Peroni, CFP Chief Investment Officer,

Faith-Based Investor, http://www.faithbasedinvestor.com

Author of The Faith-Based Millionaire and The Faith-Based Investor

A provocative and mind-opening analysis of what went wrong with our economy and a bold strategy for coping with the future.

John Perkins, New York Times best-selling author

Hoodwinked, Confessions of an Economic Hit Man, The Secret

History of the American Empire, Shapeshifting, The World Is As

You Dream It, Psychonavigation, The Stress-Free Habit

Spirit of the Shuar

I just finished reading Jerry Robinsons excellent book Bankruptcy of Our Nation . Not only does he get the entire picture, he makes it all easy to understand!

Charles Goyette, New York Times best-selling author of

Red and Blue and Broke All Over and The Dollar Meltdown

Jerry Robinson puts forth a thorough yet digestible study on the economically unsustainable financial system Americans have been bound to and some sound methods and practices the individual can take to break the chains and truly be individual.

Gerald Celente

http://trendsresearch.com

Contents

Acknowledgments

To my sweet Jennifer Dyan, the love of my life and my business partner. I cannot imagine life without you.

Also, special thanks to Brenda and Cris for their many hours of proofreading and editing. Finally, a big thank you to our growing online community at FTMDaily.com. I thank each of you for your loyal readership and your continued support.

Introduction

According to the laws of physics, an apple thrown upward into the air will be pulled downward by the invisible force of gravity. And while history does not necessarily subscribe to a set of predictable laws, it can teach us great lessons. These lessons can even be forceful at times. It has been said that while history may never truly repeat, it does at least rhyme. And unfortunately, in the case of the inevitable American economic decline, we have a wide array of historical precedents, which we will examine throughout this book.

The Excesses of Empire

The painful truth expressed in these pages is that the end of the American experiment will, more than likely, come sooner rather than later. Americas ascendance into the heady realms of economic empire began in the post-World War II Bretton Woods era when it was the worlds greatest creditor nation. Today, around 70 years later, America stands as the greatest debtor nation in world history. Decades of financial excess, coupled with an entitlement mentality, have left America financially bankrupt.

America clearly represents a reluctant economic empire in decline. And like all empires that have gone before it, its days are numbered. The death of an empire can be quick and painless; however, that is rarely the case. Instead, empires tend to die slow, painful, and humiliating deaths, and their demise is usually accompanied by at least two themes: an overextension of the empires military and extreme economic overindulgence and depravity. America exhibits excesses in both of these categories.

Over the last few decades, several economic trends have pointed toward an eventual day of reckoning for the U.S. economy.

The Selling of America : Our nations overconsumption, coupled with U.S. military adventurism since the Vietnam War era, has been largely financed by foreign creditors. With massive trade deficits and an exploding national debt, America is now in a highly vulnerable position as we move into an uncertain future. Americas shameful lack of sound fiscal stewardship has created the largest national debt in human history: a colossal $16 trillion... and it is growing by the billions every single day with interest. Foreign countries own more pieces of America than ever before. Not only do foreigners own a large amount of Americas real wealth (real estate, corporations, etc.), they also hold vast amounts of our government bonds. The repercussions of this large foreign ownership of American interests will be discussed in upcoming chapters.