mavSolve

UGH!!!

Can we survive this?  The media is talking about a 3.1 Trillion dollar deficit (eventually).  And, the best part, is they are claiming that Obama is “…inheriting…” the problem.   They aren’t seeing that the problem is indemic to a money based on debt and fiat money.   Oops, economist creeping out again… let me explain (briefly).

The “gold standard” was a real thing.   It stated that their could only be as much “money” in the system as there was “wealth”.  While these two weren’t always in sync, having that boundary put limits on what was possible, in terms of debt.   So, at any given time, people would still bet on future wealth by granting loans.  Also, banks would participate in this.  The real restraint was on the back-side.  There was always a “settling-up” which would occur, and any time “money” exceeded “wealth”, it would create inflation; your dollars would be worth less.

The Federal Reserve (FED) abolished this in order to have free will to create as much money and debt as they desired.  They have, in effect, bought the USA on mortgage.  So, what should we do about it?  We need to abolish the FED as soon as possible and return to a limited and metered monetary system.  At the same time, we will be setting banks free to operate as banks, and not an extension of the FED.

This is a really huge request.   How would we go about tackling such a task?  Would it require force?  Who is to be the arbiter of money?   You could find some of the answers in one of my favorite books: “The Creature From Jekyll Island” by G. Edward Griffen.   I highly suggest reading it at your earliest convenience.

Meanwhile, it isn’t Obama’s fault, but he wanted the job, so let’s hold him accountable.