Monday, March 15, 2010

What Everybody Knows

Seems to be common knowledge that government spending is the only thing that will get us out of this depression. I've got some problems embracing that notion.
The U.S. government is broke. It has no money other than what it steals from us, and that's damn little lately. So the politicians announce that they're going to "borrow" the money. But who is going to loan us money? You'd need thousands of Bill Gates' willing to loan us their life savings to work up that kind of cash. The Chinese, perhaps? But the Chinese government has no money other than what it steals from it's inmates citizens. So thieves are going to loan us some money? Getting worse. Then there's the printing press. But money represents unconsumed goods, so if the money is just printed, that represents a theft from everyone that holds money. Since that reduces their purchasing power, how is that supposed to help us? Then there's the Federal Reserve Bank, a PRIVATE bank with huge amounts of money. Where did the Fed get all this money? The Fed does not take deposits. Instead, it acts as a "legitimizer" for the U.S. Treasury Department's printing press. Here's my question for the day: Why does the Treasury Department print Federal Reserve Notes? Our money system stinks from top to bottom and we're not going to be able to fix it until it collapses. That's coming soon.


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