"Irredeemable debt may only create make-belief capital."
I have been right for quarter of a century! There are no rich countries. There are inflated countries only!!
But because the crowd was big, I could not prove it. Today the truth is plain to see.
Why no one denounced? Well, why denounce somehting that you are having a share on the outcome, hein?
May God have pity of the souls of the culprits.
"President Nixon embraced the woolly theory of Milton Friedman and declared the irredeemable dollar a Monad, that is, a thing
that exists in and of itself.
According to this theory the government has the power to create
irredeemable debt ? debt that never needs to be repaid yet will not lose its value ? subject only to a “quantity rule”, e.g., it must not be increased by more than 3 percent annually."
All that and don;t an Argentina, Mr. TJ!
"The world has become dedicated to the
proposition that it is possible, even desirable, to expand irredeemable debt in order to make the
economy prosper. Never mind the default of the U.S. government on its bonded debt held by
foreigners. Never mind people victimized by theft. Thanks to the quantity rule, they will never
notice the difference."
ai, ai, ai, this is not going to end well!
Repercussions need to be studied. Lessons will be taught. It will reverberate for a 1/4 of a century. |
