TRILLIONS or QUINTILLIONS of US DOLLARS will be printed in the next 2-4 years, and maybe more. The Q4 is ready to be released in the next 12 months. Social Security and Medicare are "unfunded liabilities", so current and future retirees will be in trouble. USA government will take 401k and either provide in return BONDS or take it, but they will be worth nothing. This is Financial Education.
Canadian Government might take over the RRSP if needed.
Let's learn what is happening in CYPRUS. The government, which is is serious financial trouble, is stealing money from savers and their banking accounts, and selling any "assets" to the world, because they do not have money, it is broke. Can you forecast that this will happen in North America and the whole world?
Worldwide pension age will be extended; taxes will increase, commodities prices will rise, confiscation of savings, worldwide turmoil, until the US dollar will collapse.
When USA goes into ECONOMIC DEPRESSION with HYPERINFLATION (2106-2108), Canada and Mexico will go too in the next 30-90 days. How do I know? Because both countries are still 50% economic dependent from USA trade.
In Mexico the situation might be worse, when Cantarrel oil field gets depleted @ 2016-2018.
Did DEPRESSION happen before in USA?
USA went into The Great Depression in 1929; Canada went into a Depression in the next 2 months (1930) and The DEPRESSION of 1930 was global.
Did other countries have HYPERINFLATION too?
Germany 1923: Adolf Hitler rose to power as a consequence of hyper inflationary pressure (at least one of the reasons). Prices doubled every 3.7 days and inflation stood at 29, 500%. Germany was crippled with the reparation payments after the Treaty of Versailles and the end of World War I.
Zimbabwe 2008: Prices doubled here every 24.7 hours in November 2008 and inflation reached levels of 79 billion-odd %. They eventually stopped using the official currency and switched to the South African Rand or the $ US. A loaf of bread ended up costing $35 million. This is the most recent case. It was Mugabe’s land-redistribution program that caused this. And many more countries.
Peru experienced Hyperinflation during 1988-1990, and Argentina in 1991 and many more countries around the world. I did not understand how happened but it hurt millions of people. Now I understand.
What was the common denominator?
Excessive printed currency or INFLATION
Are some countries printing their own currency?
Presidents or Prime Ministers of countries, dealing with a huge Fiscal Deficit, start printing HUGE amount of their currency and this is INFLATION, and if nothing can be done, it escalates and grow up spirally until the HYPERINFLATION (no trust in that currency) is installed.
It is happening gradually an it will happen again @ 2016-2018?