What the ancient said. Obscuring what the fiat money mentality has done to what had been productive Americans is the height of folly. It’s a desperate attempt to hoorah 40 years of horrific Fed experimentation in Keynesianism probably just because there’s a Republican in charge.
This isn’t Bush’s deal, Martin. This is the endgame of fiat currency, as the entire globe unhinges from the dollar to some extent and everything gets revalued, as it should and must.
Remember, every dollar in circulation is an instrument of debt — every dollar in circulation was lent there as an entity, not as a unit of value, making it physically impossible to pay down that debt (the interest is a construct, much the same as the dollar itself is.)
There is simply nothing conservative about the country’s monetary policy; some 40 years ago we simply started growing the debt by staggering amounts, not knowing where it leads but calling it growth.
In that context, paper is not money; it does not grow on trees, something we’ve yet to learn and demand the Fed observe with us, it being our servant. To say we’re sitting pretty because we share in (paper dollar-inflated) national wealth is absurd.
If your view were political, it’d be hyper-progressive bordering on nationalist/collectivist. Why do ostensibly conservative PJM readers swallow this stuff?
