henrymakow.com – Aug 30, 2020
Owning gold today is like yelling fire in a crowded theatre and hoping people will rush to the right exit. In a crisis or crash, they are just as likely to dump gold and embrace the “worthless” USD.
by Henry Makow Ph.D – (henrymakow.com)
In 2000, U.S. debt was $6 trillion — a 30% debt to GDP ratio. It was $14 trillion in 2010 and $23 trillion in 2019, increasing $1 trillion a year while the U.S. economy was booming. Or maybe this is why the economy was booming. The U.S. was charging $1 trillion a year, year after year, on its national credit card to buy things and to engineer this growth.
Since 1919, the US has created another six trillion and is considering another six. That makes $35 trillion.
“Money” is a medium of exchange that the central bankers create as a debt to themselves. It is a mental concept, a notion of value expressed in terms of some coupon (i.e. currency.) It has no inherent value. Its value is based on its acceptance for goods or services and is linked to the “credit” of the issuing nation. Your “money” is just digits on a ledger kept by the central bankers, the same people who encourage sodomy.
The criminal cabal in charge has been producing this “money” and stuffing its pockets and those of its friends. Is there any limit to the amount they will produce? If the “debt” doubled to $70 trillion, would it make any difference?
“Debt” is simply the money supply. It will never be repaid and shouldn’t be. Interest rates are near zero so there’s no limit to the amount they can create.