The overwhelming debt in America is at a all time high under the leadership of Obama and it is growing at an alarming rate that also cannot be stopped. 2012 is slated to become the financial and economic collapse of America. Prepare your family for the worst because it will come so fast when it starts that the grocery store shelves will be empty within 12 hours of the collapse of the dollar. Prepare your family with survival food and supplies. You have been warned over and over again and the time of the economic collapse is almost upon us.

According to a new and yet unconfirmed report, India bought oil from Iran using gold. India certainly has the gold resources to fund the oil, while Iran is under pressure by the West, due the continuation of its nuclear program. There were reports that officials have been floating this idea for some time, and now, as the EU finally decided upon an oil embargo on Iran, more details became available, yet still pend confirmation. Oil is priced in US dollars, and bypassing the greenback posed challenges for both parties. Two banks are reportedly involved in this deal: India’s state owned UCO Bank and Turkey’s state owned Halkbank.

The step joins Russia and Iran’s announcement to begin trading in their own domestic currencies rather than use the US dollar – a reserve currency. These details about the gold for oil deal come on the day that EU officials announce an oil embargo on Iran starting on July 1st. Tensions between Iran and the West are mounting and oil is already on the up. The time it took the EU to reach the decision, and the late implementation date make it very easy for Iran to enlarge exports to oil hungry and fast growing Asian countries. The use of gold for buying the No. 1 commodity, will likely have positive implications for the precious metal, if this report is confirmed and especially if the use of gold widens to China – the world’s No. 2 economy.

“I think this economy is about to fall apart,” she said. A wide range of vendors market products to preppers, mainly online. They sell everything from water tanks to guns to survival skills. Conservative talk radio host Glenn Beck seems to preach preppers’ message when he tells listeners: “It’s never too late to prepare for the end of the world as we know it. Unfortunately, given the increasing complexity and fragility of our modern technological society, the chances of a societal collapse are increasing year after year,” said author James Wesley Rawles, whose Survival Blog is considered the guiding light of the prepper movement. A former Army intelligence officer, Rawles has written fiction and non-fiction books on end-of-civilization topics, including “How to Survive the End of the World as We Know It,” which is also known as the preppers’ Bible. “We could see a cascade of higher interest rates, margin calls, stock market collapses, bank runs, currency revaluations, mass street protests, and riots,” he told Reuters. “The worst-case end result would be a Third World War, mass inflation, currency collapses, and long term power grid failures.” A sense of “suffering and being afraid” is usually at the root of this kind of thinking, according to Cathy Gutierrez, an expert on end-times beliefs at Sweet Briar College in Virginia. Such feelings are not unnatural in a time of economic recession and concerns about a growing national debt, she said. “With our current dependence on things from the electric grid to the Internet, things that people have absolutely no control over, there is a feeling that a collapse scenario can easily emerge, with a belief that the end is coming, and it is all out of the individual’s control,” she told Reuters.

She compared the major technological developments of the past decade to the Industrial Revolution of the 1830s and 1840s, which led to the growth of the Millerites, the 19th-Century equivalent of the preppers. Followers of charismatic preacher Joseph Miller, many sold everything and gathered in 1844 for what they believed would be the second coming of Jesus Christ.  “Modern preppers are much different from the survivalists of the old days,” he said. “You could be living next door to a prepper and never even know it. Many suburbanites are turning spare rooms into food pantries and are going for survival training on the weekends.” Like other preppers, Snider is worried about the end of a functioning U.S. economy. He points out that tens of millions of Americans are on food stamps and that many U.S. children are living in poverty. “Most people have a gut feeling that something has gone terribly wrong, but that doesn’t mean that they understand what is happening,” he said. “A lot of Americans sense that a massive economic storm is coming and they want to be prepared for it.”

So, assuming there is no collapse of society — which the preppers call “uncivilization” — what is the future of the preppers? Gutierrez said that unlike the Millerites — or followers of radio preacher Harold Camping, who predicted the world would end last year — preppers are not setting a date for the coming destruction. The Mayan Calendar predicts doom this December. “The minute you set a date, you are courting disconfirmation,” she said. Tegeler, who recalls being hit by tornadoes and floods in her southwestern Virginia home, said that none of her “survival center” products will go to waste. “I think it’s silly not to be prepared,” she said. “After all, anything can happen.”