Fear is the greatest motivator. When it comes to debt all debts get paid. It’s called accountability – voluntary or involuntary. So, how will 20 trillion dollars of United States debt be paid? Involuntary – devaluation of the U.S. dollar.
Those holding dollar assets will get a haircut – overnight not a deposit, but withdrawal. Held assets worth a lot less. How much? Depends upon how long the Federal Reserve Board allows the debased dollar to decline. Without foundation – gold. Meanwhile, personal debt is fixed, means to repay, less.
A house is only as good as its foundation. Russia’s dictator, Lenin, “The way to destroy a country – debauch the currency.” England’s Prime Minister, Thatcher, “Government is good in spending other people’s money, until they run out of money.” England’s economist, Lord Keynes, “In the end we are all dead.” The Fed, A.K.A. Keynes, “We are wiser than the people in managing (printing) money.”
No. Monetary disingenous. What made America great- empowerment of the people, less government, not more. Why the U.S. Constitution “The right of the coined money backed with gold.” Whereas the Fed, “Our right to coin money” – the invisible tax (crash) of devalued currency, the greatest tax of all – deflation.
Thus the Fed, a trojan horse, runs in contempt of U.S. Constitutional Law – an illegal shop (House) of ill repute. A bunch of whores. So, demand your congressman/senator the Fed needs to go, replace the U.S. dollar with a golden horse, as the international unit of account to avoid currency manipulation, enhancing U.S. exports (job creation); and more so, the people have the say (power) over the politicians spending “others” money.
Devaluation is not all bad. With less, more in sense of monetary stability (gold). Sound money will go farther. Certainty a reassuring plus. And, economic downturns are necessary in the business cycle: cuears excess, builds character. The cycle always comes back, better than before.
Realize, all problems have solution. At the instant the proposed tax cart is before the horse (gold). Think what politicians could do to regain stature if they understood empower the people.
So, to cart or not to cart?
Always a choice,
John L. Erickson,