Porter Stansberry, in the S & A Digest, warns that the turning point in America will come when the people realize that their government is corrupt and illegitimate.
That day is rapidly approaching.
Via The Daily Crux:
…remember this: Our State, as powerful as it is, relies on an assumption that’s made collectively by millions of Americans.
We must believe the people we saw on TV [Tuesday night’s State of the Union] are fundamentally good and honest people. We must never come to doubt the character of those people or the process they used to gain power.
If that happens, our State, even though it’s the most powerful in the world, could quickly collapse. It is nothing without the consent of the governed. And our consent depends entirely on its legitimacy.
I believe our government is in imminent danger of losing its legitimacy. Why?
Our federal government is bankrupt and threatening to bankrupt several generations of Americans. At some point â€“ one that is rapidly approaching â€“Americans will repudiate these debts and the legitimacy of the government that incurred them.
Unaffordable foreign debts and the obvious perfidy of “quantitative easing” will soon render our currency worthless. It is a shame upon the honor of our country that we would even consider using the printing press to finance our debts… It is a high crime that we have done so. The world will long remember the way we have treated our creditors.
Over the last 50 years, the government became a socialist tool. It steals assets from responsible, hard-working citizens and distributes them to others, mainly on the basis of political patronage. At some point, these policies become self-destructive. So many people end up on the dole, the government has no way to finance their needs. We have reached that point. Today, more than half of all voters pay zero federal income taxes.
Our aggressive foreign policy has created billions of enemies overseas while propping up regimes that would disgust most Americans â€“ like the Saudis.
Most critically… our government is for sale. As the price of influence in Washington continues to escalate, it will become impossible to deny the patently obvious truth: Government policy is awarded to the highest bidder and our “free” elections are essentially rigged by the massive sums spent on advertising for candidates.
While I look forward to the day my fellow citizens begin to see their government as it really is, I also fear that day for it will surely mark the beginning of an “interesting” moment in history.
It will, indeed, be an interesting moment in history if (when?) it happens. One that will likely be written about for decades and centuries to come.
The governments of Iceland, Greece, Hungary, Tunisia, Algeria, and now Egypt have all lost credibility and legitimacy with their people, and recent reports suggest that Egypt is turning into a war zone. Does the same fate await the streets of America?