The national debt surpassed a record $40 trillion on Wednesday, a staggering milestone as defense costs, social programs like Social Security and Medicare and interest on the burgeoning deficit make up an enormous share of federal spending.

The number of Americans who file for bankruptcy is growing. More than 500,000 people took this step in 2025, nearly 50% more than in 2022. And the numbers have kept on climbing, with a 12% jump in June 2026 from a year earlier as many consumers struggled to pay their bills.

“How did you go bankrupt?  Two ways. Gradually, then suddenly.” This quote appears in Ernest Hemingway’s 1926 novel The Sun Also Rises.

In the dialogue, the character Mike Campbell responds to Bill Gorton’s question with this line, highlighting how financial ruin often results from small, compounding compromises before a final, decisive collapse.

The following are my notes from and my reactions to a Chris Martenson video on the imminent collapse of all Western currencies.

Posted by Tyler Durden, Authored by Andrew Korybko,

By MTCONTEXT

Negotiations between the US and Iran have reached an impasse. Trump keeps insisting that a deal is coming, which has kept oil markets sanguine. Unfortunately, a diplomatic off-ramp is becoming less likely.

Webmaster Addition: Posted in light of the recent shenanigans with Venezuela's gold.