Pension funds all over the world are already on the brink of collapsing. In the United Kingdom, the Bank of England recently told lawmakers that several pension funds were just hours from collapsing if not for the central bank's intervention in the British long-dated bond market. (Related: Global debt markets are BREAKING – pension collapse in England, govt. debt FAIL in Japan, while some bonds see 75% losses so far in 2022.)
The Bank of England's Financial Policy Committee stepped in after the government of recently deposed Prime Minister Liz Truss' new fiscal policies took effect. One policy involved a massive sell-off of government bonds.
This resulted in a massive plunge in bond values, causing panic in particular for Britain's 1.5 trillion pound ($1.73 trillion) liability-driven investment funds, around two-thirds of which are long-dated government bonds. Many pension funds invest in these bonds and funds. And if the central bank didn't intervene, many of those funds would have lost all value.
In Germany, the country's state pension system is also on the brink of collapse, with large business groups warning that it won't be financially viable in five years unless it is reformed to be more restrictive. Contributions to the country's public pension plans already represent around 10 percent of Germany's gross domestic product (GDP).
Other countries are experiencing deteriorating economic conditions due to payments into pension plans. By 2070, Ireland and Norway are expected to increase spending on their pension plans by 2.6 percent of their respective GDPs or more. In the Netherlands, the percentage of GDP spent on pensions is expected to surge by 2.2 points or higher in just five years.
In the United States, so-called financial experts are claiming the kind of turmoil the U.K. and Germany are experiencing is "unlikely." International credit rating agency Fitch Ratings, in particular, claimed that state and local pension funds in the U.S. are "unlikely to face the sudden liquidity crisis that U.K. corporate pensions are confronting."
But Adams warned that all it will take for American pension funds to be obliterated is one massive crisis or emergency.
"The next emergency is going to be the emergency that collapses the pensions, the currencies, the banks, the financial system as we know it," he said.
Given how precarious the situation is for pension funds all over the world, the best option for people looking to safeguard their wealth is to invest it in hard assets or precious metals like gold and silver.
"For those who are informed, those smart people who are taking action right now, their pension is going to be whatever gold and silver they acquire … or whatever other hard assets they acquire," said Adams.
He further warned that people who want "to have any retirement in the system" will need off-grid assets that have universal value and are a safe haven for wealth like gold and silver.
"You need resources that you can trust on this. The traditional pension systems of the world are done. They are wrecked, it's over. We've reached the end of the banking fraud, the central bank … money printing, fiat currency, manipulating fraud. It's done," he said.
"Anybody who doesn't have some kind of off-grid asset saving system, which is gold and silver or land or other things that you can turn into cash or barter items, I think those people are going to be utterly wiped out."
Listen to this episode of the "Health Ranger Report" as Mike Adams, the Health Ranger, explains why pension funds all over the world are wrecked and why people should invest in hard assets like gold and silver.