"Eventually, this thing is coming all the way down. Someday America will be such a horror show that it will be hard to believe that it is the same place that many of us grew up in."
When almost everyone is a parasite like the Democrat base, almost everyone will be Democrat.
I have read that the Weimar government deliberately devalued their own currency to get out of paying war reparations.
Is that accurate?
Europe’s Socialist Paradise has Eurozone Has $39 Trillion In Pension Liabilities - Almost 40x The ECB’s Balance Sheet!
This is our future.
Deliberate inflation amounts to taxation by teleportation.
You have $1.
The feds “print”* $1.
The total quantity of currency has doubled, but the value it represents remains the same - thus halving the value of each of those dollars, and transporting $0.50 of value from you to the feds.
* - “printing money” is an anachronism. We now operate in large part on a “virtual currency”, whereby the Federal Reserve writes an arbitrary amount in the income column of its ledger, then loans that “money” to the government; from there on the “currency” is a chain of IOU debts which are strictly audited. Ergo, if the federal government wants another dollar, it just asks the Federal Reserve to write “+$2” in its income ledger, and after some computer time you lose $1 of savings value - to wit, taxation.
bookmarked
Inflation is the only way out of this fiscal mess for our leaders, short of war. Legal obligations must be satisfied ... but since those obligations are rendered in terms of “dollars”, the Federal Reserve can just conjure up more money and reduce the value those dollars were understood to represent.
Gold is OK for long-term high-density value storage, but impractical for common use during hard times. Certain popular forms of copper/brass/lead are more suitable for mundane needs.
People (especially Democrat politicians) always claim that big banks aren’t lending, but they are. They are loaning the Federal Government hundreds of $ billions. Obama’s deficits have sucked $ Trillions out of the private economy and will continue to do so until real spending cuts are enacted.
CD’s are paying .10 % inflation is raising 4%.
I have news for you, your savings are already being eaten up.
The even worse news is that even if you’re wise enough to have your savings in the form of inflation-proof tangibles (like gold and silver) you’ll still suffer.
That’s because the feds will still think they’re entitled to taxes on the “gain” you enjoyed when you were really just preserving the value of your savings, and experienced no increase in wealth.