U.S. Debt Crisis: Elon Musk Warns of Imminent Bankruptcy

I’ve been warning you for a long time that a major crash is coming…

That will likely be a crash of the stock market and a crash of the US Dollar, a debt spiral out of control that could lead to the United States itself going bankrupt.

Sound extreme?

It’s not just me sounding that warning anymore.

Now it’s Elon Musk himself:

America is currently headed for bankruptcy super fast https://t.co/Tm6JFJ6mef

— Elon Musk (@elonmusk) November 23, 2024

You mean adding $1 trillion of debt every 90 days is not sustainable?

Who knew?

So at this point you have to decide who you trust and believe more: a group of career politicians who have never successfully ran anything in their entire lives telling you this is just fine — or a literal genius rocket scientist who says we’re on a fast path to bankruptcy?

I know who I’m trusting.

Here are some more details:

The United States is currently grappling with an unprecedented debt crisis, with its national debt soaring past $36 trillion as of November 2024. This figure represents a staggering increase, where debt is growing at a rate that far exceeds the nation’s GDP growth, signaling a dire economic situation.

The Current Economic Landscape

Debt Growth vs. GDP: Over the last decade, the U.S. has added debt at a rate double that of its economic growth. This unsustainable trend has led to a situation where the debt could soon eclipse the annual GDP, a benchmark not seen since post-World War II, highlighting the severity of the financial strain on the country’s economy.

Interest on Debt: In 2025, the interest on the national debt is projected to consume over $1.2 trillion, which represents approximately 25% of all U.S. government revenue. This massive allocation to debt servicing leaves less for essential services, infrastructure, and social programs, exacerbating fiscal constraints.

Federal Spending and Deficits: Yearly deficits have been ballooning, with figures reaching between $2 trillion to $3 trillion. This continuous overspending has not only inflated the national debt but also puts pressure on future fiscal policies, potentially leading to cuts in public services or increased taxation.

Why Bankruptcy is a Concern

Credit Rating Risks: The U.S. has already experienced a downgrade in its credit rating from AAA to AA+, signaling investor concerns over fiscal responsibility. A further downgrade could lead to higher borrowing costs, making the debt situation even more precarious.

ADVERTISEMENT

Lack of Fiscal Discipline: Political gridlock and the use of the debt ceiling as a political tool have resulted in a lack of serious fiscal reform. Without significant changes to spending habits or revenue generation, the path forward appears to be one of increasing debt without a sustainable plan for repayment or reduction.

Economic Impact: Should the U.S. default on its debt obligations, even briefly, the repercussions would be catastrophic. Analysts predict potential stock market crashes, severe economic downturns, and massive job losses, plunging the nation into a crisis reminiscent of the Great Recession.

Mitigation Strategies for Individuals

Investment in Precious Metals: In light of the economic instability, some financial experts suggest that investing in gold and silver could serve as a hedge against currency devaluation and inflation. Gold and silver have historically been considered safe-haven assets, maintaining value when paper currency weakens. Individuals looking to protect their savings from potential economic turmoil might consider diversifying into these metals to preserve their wealth.

I’ve been consistently sounding the alarm and warning you….

Here’s one of my prior reports:

https://wltreport.com/2024/08/23/warning-u-s-dollar-is-nearly-finished

WARNING: The U.S. Dollar Is Nearly FINISHED, Will You Survive The Coming Crash?

We’ve been one of the FIRST news outlets on this story.

Credit to our friend Bo Polny who first started telling us the U.S. Dollar was in serious trouble a couple years ago…

At the time, it seems inconceivable that the U.S. Dollar would ever be anything other than the world reserve currency.

Now it’s very obvious and we appear to be in the end-stages.

I want you to listen to this short clip from a very smart man, Miles Franklin CEO Andy Schectman.

He explains the very simple roadmap for how you dethrone the U.S. Dollar:

– Weaponize the dollar
– Incentive oil producers to dump the dollar
– Cause an inflationary crisis at home
– Banks collapse
– Tell everyone they will be made whole if they sign up for the CBDC

Watch the clip here and tell me if this sounds like EXACTLY what we’re watching play out before our very eyes.

Pretty incredible when you hear him connect all the dots.

Watch here:

🚨 THE DOLLAR END GAME: RISE OF A 🇺🇸 US CBDC

Miles Franklin CEO Andy Schectman lays out his theory on how America’s debt spiral will lead to a complusatory #CBDC. 😮

– Weaponize the dollar
– Incentive oil producers to dump the dollar
– Cause an inflationary crisis at home
-… pic.twitter.com/ky744LQHOi

— Bitcoin News (@BitcoinNewsCom) September 16, 2023

Then the big question comes next…

They’re not dethroning the U.S. Dollar because they’re bored.

They’re doing it because they have something ready to take its place and they need to make room for it.

I believe Gold and Silver are going to play a BIG role in the new system.

I believe they conditioned the public over the last 40 years to not buy Gold and Silver.

They taught you to avoid them.

They plunged the prices.

And yet….what were the big players doing all along?

BUYING.

Keep reading and I’ll connect a bunch of dots for you!

We are fast approaching a Bretton Woods 3.0 moment on the world stage.

These come along about once every 100 years and the people who are positioned on the right side of history always scoop up generational wealth.

It’s an incredible time to be alive.

Read this:

“Generational Move” In Gold Is Dead Ahead

A Generational Gold Move is dead ahead!

Spoiler alert: that means to the UP side!

Those aren’t my words, that’s Alastair Still the CEO of Gold Mining Inc. talking with SGT Report.

The man knows his stuff and he’s adding to the chorus of voices I’ve been bringing you recently telling you it’s time to pay attention to gold!

Read to the bottom to see how you can buy Gold with no money out of pocket!  

I’m going to continue bringing you as many reports as I can so no one can say I didn’t warn ya!

Oh, and did you see this from a couple days ago?

Costco To Begin Selling Gold

What do you think THAT is going to do to demand for the precious metal?

If you know anything about economics, you know when Demand goes up and supply stays the same, what happens to price?

It's basic Economics.

But now here's the latest...

You're going to want to watch this one and pay close attention:

So, what can YOU do to protect yourself?

To protect your family?

To stay safe?

Simple: you need to get some #Gold or #Silver in your own possession.

It's called "physical" gold and silver.

Not paper traded garbage on the stock exchanges that isn't backed by anything.

Don't touch that stuff.

I have two special hook-ups for you.

Both involve PHYSICAL gold and silver.

Because if you do NOTHING else, make sure you own "physical" gold and silver, not paper contracts.

The paper contracts (like stock ticker SLV and GLD) could very well go POOF one day and disappear or go to zero, because they're not actually backed by the gold and silver they claim to represent.

It's a massive game of musical chairs out there and when the music stops (and I think it will stop soon...) people who only own paper might find themselves owning something not worth the paper it's literally written on.

And I know you'll never forget it if I give you this GIF so....Let's Get Physical:

Now...WHERE do you get physical gold and silver and how do you know it's real and safe?

And that you're getting the best price?

Oh, and how about personal one-on-one real customer service?

You know, like you were some Big Wig millionaire at Goldman Sachs who could just call their personal banker and get help?

That's what I'm about to tell you.  

I have two killer connections for you...

The first is for purchasing gold and silver bullion.

That means bulk bars.

That's the cheapest and most economical way to do it, to stretch your dollar into as much gold and silver as possible.

The website is called WLT Precious Metals and when you see my logo in the top left-hand corner, you'll know you're in the right place.

You'll get a personal phone call with Ira Bershatsky (or someone on his team) and they will work with you free of charge for as long as needed to answer any questions you have and get you taken care of.

How about that!

You don't see that much anymore, but Ira and his team pride themselves on good old-fashioned real customers service:

No sales pitch, just real, actual help.

And the best prices you will find.

Here's the only disclaimer I will give you: because they do pride themselves on dedicated service, it might take a few days before you get a phone call back.  Just be patient.

Good things come to those who wait!

You can contact Ira and WLT Precious Metals here.

Ok, that was #1.

Now I want to tell you about option #2.

An equally great company, I am so happy to be working with these guys.

This next company is called Genesis Gold and this is for people who want to purchase real physical gold or silver in their IRAs (Investment Retirement Accounts).

You know what the beauty of that is?