Governments have always loved to pay back their debts in newly devalued currency because then they get to pay back today's debts with tomorrow's cheaper dollars. But if, as a citizen of that debtor country, you've got personal savings in the bank, or in a CD, you get stuck on the other side of the deal. Example: every $10,000 you had saved this time a year ago has already lost $211 in purchasing power. Go back five years, and you've lost $1,205; ten years, and it's $2,259.
Forget losses in the stock market. That's money that might as well have been stolen directly out of your account! And it was, in a way, because that's how governments transfer the cost of the reckless borrowing from the public to the private individual -- by sticking it to anyone unlucky enough to hold dollars, as they unleash the three stages of their well-crafted scam.
Bottom line: Washington policy makers are mortgaging our future, and our children's future, in unprecedented and devious ways. It's unsound, immoral, and unsustainable. If nothing else changes, the United States will owe 240% more than every business in the U.S. makes each year, and it will happen in less time than it takes a child born this morning to reach age 35! But what foolish lender is, for that long, going to keep lending us the money we need to keep our crazy and supremely wasteful ship of state afloat?
The source of the statistics and central points in the foregoing report:
https://reports.agorafinancial.com/fstfrd/LFSTL200/landing.html
http://www.nowpublic.com/world/recovery-0
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