and while the snapshot value of our cities, roads, factories, etc. may be worth 100 Trillion+, nobody seems to care exactly how much of that has liens against it… Consider that most of my peers have outstanding loans for their homes and businesses, which tells me that the tidy snapshot of the national wealth has no real bearing on the true *available* value we’re being told is OK to borrow against.
our social security system has had zillions put into it – so it’s worth zillions right now – right? If I read this article correctly, Charlie would have you believe we can happily borrow against those zillions. All I really see there are a bunch of IOUs, with no governmental motivation to collect on behalf of the depositors, who, as a group, will never be able to demand it be payed back. It’s gone. We’re still legally required (extorted) to keep putting money into this silly system that even Charlie’s economics/accounting 101 would tell you never to invest in such insanity… We’ll never see it. Our lawmakers will continue to borrow against it, because it ‘keeps growing faster…’.
clear as mud?
buy gold
