The National Debt...
Published on December 9, 2011
And the part you play.
If I said to you “Can I borrow a pound and i’ll pay you back in a million seconds?”, then you’d probably say yes. Because a million seconds is about eleven and a half days. Did you know that?
If I then said “Oops! I meant a billion seconds” then you’d still say “OK” even though that’s 11,574 days. But you didn’t know that, did you?
If I then said “Oops, sorry, I meant a trillion seconds!” then you’d still say “OK” because you don’t really know what a trillion is, do you? A trillion seconds? That’s 1,000,000,000,000 seconds or 11,574,074 days. A pound for 31709 years, give or take. Imagine the interest!
To make it meaningful, a Million is 1,000,000, a Billion is 1,000,000,000 and a Trillion is 1,000,000,000,000.
And a trillion is a very big number.
The UK carries huge borrowings – it’s called the National Debt and as I write, that figure stands a little above £986 billion. £986,745,310,473 to be precise and it’s rising every day. This debt is very real and we have to pay it back. In 2010, the interest paid on this debt was £42,900,000,000 – 42.9 billion pounds.
The Government forecasts that this borrowing will breach 1 Trillion pounds before the end of 2011 yet folk continue to trust the stock market, the banks and the government. Your wealth is being lost and time is running out. If I knew that you were going to get hit by a car and I didn’t tell you, would I be doing you a favour? No, I wouldn’t. Well let me tell you now, a storm is coming and owning gold and silver is quite possibly the only way you are going to survive it.
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Disclaimer – I am a merchent of gold and silver. I do this for a living. What is written here is for your private information and should not be taken as ‘advice’. If you act then take some responsibility for your actions. All and everything that is written by David Peers and/or published by Bleyer LLP is subject to copyright.