 tommy2balmy says: Yes. I think it is self-delusion and wishful thinking that has kept people blind to the fact. I'm not an economist. But you don't have to be an economist to understand certain basic common sense concepts. While not every individual is in debt the average American carries a substantial debt. The US government has greatly expanded it's already huge debt. It is not a big stretch to realize that should the debtors wish to be paid off the indebted would be unable to pay off in full. Then when you add to that the culture of cheating,corruption and short cuts that pervade society, throw in a system that is built for manipulating legal loopholes and encouraging over consumption and the collapse of the economy should not be a big surprise to anyone. The surprise is that it survived so long.... It makes sense to me. Yes, the economy is one great big Ponzi scheme called the Federal Reserve. Every dollar is a debt OWED to the Federal Reserve which can only be paid off with other dollars. But you can't get other dollars unless you borrow it (with interest) FROM the Federal Reserve. So you can NEVER pay off the debt without borrowing from the Fed. That's why they don't want you going to a gold currency standard. There is only a limited quantity of gold and gold is not a debt, it's a standard bearer asset. Going to gold would collapse the Ponzi and force all asset valuation to be "in terms of" gold. Here's how gold fares against world currencies. http://www.goldmoney.com/en/commentary.php |
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