The First Currency System Shift In 50 Years

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U.S. Treasury Secretary Janet Yellen: “We can’t tolerate any chance of defaulting on the government debt, and there is a lot of uncertainty.” 

Consider this a signpost. This statement by Yellen, while assumed by most investors, is just another “sign of the times.” 

For those who are not yet aware, we are living through the first bursting global sovereign debt bubble in 100 years and the first currency system shift in 50 years.

Sovereign debt bubble? Currency system shift? Yes, you heard that right. When Janet Yellen, former chair of the Federal Reserve and incumbent U.S. Treasury Secretary states that the U.S. will not be allowed to default on its debt obligations, she is right.

The federal government will not explicitly default on its debt, instead it will implicitly default, which is in fact exactly what is happening today.

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