Wake up people! This country is standing on the edge of a cliff, awaiting the overdue nudge which will bring its demise . Consider two of our more pressing problems. One is the trillions of dollars owned outside the U.S. that foreign investors will dump when they lose confidence. And the other is the trillions of dollars within the U.S. that were created to paper over the crisis that started in 2007. There has been no recovery since the Too Big To Fail (TBTF) banking collapse in 2008. There has only been massive increases in the money supply. The Federal Reserve has injected trillions of newly created dollars into the economy over the last few years. This has aided in no true recovery, only the creation of bigger international bubbles, ripe and ready to pop!
The main, U.S. export for many years has been the greenback, a worthless piece of paper. In exchange, the foreigners gladly send us fancy cars, cheap electronics, plenty of food, and everything else you see on Walmart shelves in. It has been a one-way street for decades. To the surprise of many, this scam can’t sustain. The debt has grown too large, the dollar too cheap. When everyone realizes that the dollar is an empty “IOU” on the part of a bankrupt government and a society that won’t produce, it’s going to create a worldwide catastrophe. At some point, foreign dollar holders will start dumping them. Some are already beginning this process. Imagine a game of hot potato, with the dollar being a flaming potato; you get the picture. This dollar failure is being demonstrated in volatile stock market declines and a boom in commodity prices.
I hear you screaming at me, you pessimist! Obama will fix it! Apart from being a puppet for the global bankers who are enjoying the dollar destruction, he serves no purpose. Obama has created no jobs, true unemployment with underemployment is now over 20%. After multiple failures in stimulus, he now wants $450 billion more for a jobs bill! More of those productive government jobs – digging holes during the day and filling them up at night – will surely fix the economy. No government has any idea what a free market wants or needs. If Obama wants to stimulate the economy, how about a decrease in the size of government. A 90% reduction would be a good start. It is wonderful when government starts to lay off employees. Once they lose their state jobs, which suck wealth from taxpayers, maybe they will pursue real, productive jobs providing goods and services that people will voluntarily pay for.
A collapse is most likely coming. There is nothing the Fed or our government can do now to erase the debt, both public and private. Recovery will be a long, tiresome road regardless of the dollar’s status as the world’s reserve currency. Reducing government size is essential to a sound recovery plan. Stop the spending, cut the taxes, remove the bureaucrats. Stop the warmongering and the military complex which have cost us trillions. Bring home the hundreds of thousands of troops spread across 130+ nations. After that, return to a sound currency. Allow currencies to compete with the Fed notes. Re-sign the executive order that got JFK assassinated. Once this occurs we can transition away from the true culprits of this disaster – The Federal Reserve, the pseudo-government, secretive, un-audited, money printing machine which exists to serve the global banking cartel. Neofeudalism is lurking just around the corner, hidden in the guise of “globalization.”
Ron Paul, 2012.