a must read..............From Financial Sense
By Richard Russell
''Really, then how are we going to solve the debt and deficit problems?
It is not going to be solved. The temporary "solution" will be put off
for as long as our pols can put it off. But how will they put it off?
It will be put off in only one way — by devaluing the currency. And
surprise, that's what they're doing now.
Let me give you an
example. I took out a $10,000 GI insurance policy in 1945. The payments
were $20 a month. That $20 a month was a great hardship for me in
1945. In the time since, the Fed has driven up inflation at the rate of
2% a year. 75 years have elapsed since I took out that policy. Today,
paying that $20 a month would be a piece of cake for me. I could pay it
easily.
And that shows how they're going to "handle" the
debt. They'll do it by devaluing the dollar. Twenty years from now,
there'll be so many dollars floating around that our national debt will
look a lot easier to handle. By printing dollars by the billions or
probably trillions, the US will render the national debt much easier to
deal with.''
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