At least that was the title of the financial seminar I went to yesterday! It was geared toward pastors, but there are a few things I found interesting that would apply to all of us.

The Speaker was Jerry Robinson. He is an economist, has a program on Worldnetdaily, and has written several books, including his latest “Bankruptcy of our Nation.” You can visit his website at www.jrmi.org.

His premise is that there are currently five dangerous economic trends that will lead to America’s collapse. Those trends are:

Faith based U.S. Dollar. America is no longer on the gold standard (1971 was the end of convertibility of U.S. dollar to gold). And soon, he believes the petrodollar system will break down (oil is currently being traded only in U.S. dollars). When this happens, the U.S. dollar will have no real backing and become worthless.
Government debt problem. Current spending is unsustainable. Eventually the U.S. will not be able to issue more debt, it will be broke.
Energy Crisis. The average U.S. citizen uses 25 barrels of oil a year to maintain their living standard. The average Chinese citizen uses 1 barrel of oil. As the rest of the world begins to use more oil, there will be conflict over resources. Energy prices will skyrocket.
Federal Reserve. Mr. Robinson believes that many of the U.S. economic woes can be traced to the Federal Reserve, which is actually a nongovernmental unit.
Consumer Debt. There are currently 6000 bankruptcies a day in the United States. Consumer debt is crippling us.

So there you have his basic thoughts. What do you think? A lot of it I can agree with (without the hype). On Thursday I will review his predictions for the United States from now through the year 2020.