Fiat Currency Should NOT Be Blind Belief – Part 2
Guest Post by Dennis Miller at Miller On The Money
Congress just keeps spending money we don’t have.
It took just five weeks to add $1 trillion to the national debt after Congress authorized yet another increase in the debt ceiling.
The US debt clock projects our borrowing out to 2027 – it is scary:
It now takes over $1 trillion in taxes just to pay the interest, which has now surpassed the military budget. There’s more!
Our US UNFUNDED LIABILITIES (political promises) are projected over $255 trillion, more than six times higher than projected US debt.
Where is our government going to get the money to pay the bills, interest on the skyrocketing debt, and keep the political promises, particularly for those depending on Social Security and Medicare?
Congress already monetized $9 trillion, citing a crisis for justification. Will they miraculously become responsible, or repeat the process, causing even higher inflation that we are currently experiencing?
In part one of last week’s interview, friend and currency expert Chuck Butler explained what is causing our high inflation and told us:
“Congress must stop deficit spending; just STOP! A Balanced Budget would do wonders for this mess we’re in, not just today, a responsible Balanced Budget from now till the end of time! That means adult, hard choices, what real leaders do. ….
When the Gov’t deficit spends, that means new currency has to be issued, and this is an increase in Money Supply, plain and simple…
Dennis, our elected representatives need to be working together. I’ve never seen our government so polarized.
One way besides the metals of Gold & Silver to reduce the deadly effects of inflation on your investment portfolio, is with foreign currencies… Not just any foreign currency, but ones that meet your criteria and stick with them!”
Our discussion continues….
National debt, “whatever”…50 cents on the dollar!
In the age of information, ignorance is by choice.
If you get hit by the imploding fiat bus, maybe you will pay better attention when they roll out the next fiat scheme.