November

Matthew 13.
Hindsight is 2020.

Wednesday, November 10, 2010

Monetizing the debt...

     Our government is monetizing our debt. They call it quantitative easing.
“'Monetizing' debt, by the way, is larceny on the grandest scale. Rather than honestly repaying what it has borrowed, a government merely prints up extra currency and uses it to pay its loans. The debt is “monetized”…transformed into an increase in the money supply, thereby lowering the purchasing power of everybody’s savings." The Daily Reckoning
     The Fed is devaluing the dollar by printing hundreds of billions of dollars to buy our own debt, and the government is a willing accomplice. I believe it is completely intentional. See my post about George Soros. He has called for a "managed decline of the dollar."
     The amount the government has printed in the past two years is about two trillion dollars...  with 600 billion more pledged over the next eight months... and another probable 250-300 billion after that... that we know of. We don't know for sure because the Fed won't open its books. Some Fed officials are voicing concernsChina is worried, and has downgraded our credit rating. Other countries are angry.
     What the government is doing is theft. It is the same thing as saying, We need the money, and so we will reach into your bank accounts and take it... Because monetizing our debt will lead to hyperinflation, and the price of everything will go up. It is only a matter of time before we have food inflation. For a summary of all of this, please read this, from the American Thinker.
     Did you know that under a command economy, the ever-growing needs and objectives of the state are met... at the expense of lower living standards for We the People.
     Buy food. Stock up. Be prepared.

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