Fed is losing control. 2008 will look like a flesh wound compared to what’s coming.
Some background for people who don’t understand our economy. Whittle through all the bullshit and our fiat system consists of a confidence game.
- Dollars are only printed when bond sales of US Treasury notes occur. The dollar amount printed is for the sale value of the notes, not the interest they incur over time. So there is never enough money in circulation to pay back the debt to the bondholders.
- This is why dollars are really debt notes, (read what’s printed on the dollar). They represent debt owed, not wealth accrued.
- Fiat dollars are backed by nothing. They are not redeemable for anything of value except as long as vendors and providers of services continue to accept them.
- Dollars are NOT real money. Real money is only ever in the form of gold and silver coin, now and since the beginning of history(read the Constitution).
This is why the US dollar has lost over 90% of it’s value(inflation adjusted), since 1913. The end is always the same. Economic destruction of all perceived wealth when confidence is finally irrevocably eroded. See Venezuela for an extreme example.