This is a good update from Liberty and Finance. Elijah K. Johnson interviewed Bob Moriarty on Saturday about the current financial situation with the banks, FED, financial system, etc. It’s worth your time to listen to this.

If you haven’t watched the short video of Senator Lankford (OK) questioning Janet Yellen, make sure you watch that first. It’s embedded in my earlier post: Three Videos From Today About The Financial Situation.

Here’s a summary of the video below.

The entire banking system is bankrupt, says Bob Moriarty. “All banks are at risk.” Gold spiked on Friday as investors rushed towards real assets. He discusses how the real problem is the one nobody is talking about yet: the derivative bubble. Derivatives have introduced unprecedented counter-party risk into the system. The solution? “You cannot have an honest economy without honest money.”

Again, I do not offer financial advice because I am not qualified to do so. I’m trying to keep track of what’s going on and sharing it with you. Even if you don’t have a lot of money, you will be impacted. Your bank, your employer, your pension, your 401k, your town/city, etc. will be exposed to these losses. We all need to try to limit our exposure to the collapse as much as possible.

If you have a lot of paper currency/Federal Reserve Notes/fiat, you need to protect yourself in whatever way you feel God is leading you because all fiat currencies in history have gone to zero. I have yet to find anyone who could try to convince me that the US will escape this. If you’ve found an explanation of why it’s different this time, please do share a link in the comments because I’ve never seen anyone seriously advance that argument but I might have missed it.

If you are of limited means (like us), then do what you can with what you have. Ask the Lord to guide your choices because none of us can clearly see what is coming.

This coming week could be one for the all-time world history books. We’ll see how it plays out.

Here’s the video.