Pivotal day for Americans

It's "Election Day," and it's very important that we elect officials who will represent us on Capitol Hill for the next 6 years.

I fear this could be the last chance we have to prevent our economy from getting any worse. Washington has to cut spending. We have freeloaded off of the rest of the World for too long, it's time to get back on our own two feet.

What will happen when the World stops buying our debt? Hyperinflation with no jobs; Stagflation! The Federal Reserve Bank will be forced to buy up the debt. Although the Federal Reserve Bank is NOT a branch of the Government, it's ludicrous to think that someone can finance their own debt with more new debt. Debt and money will become worthless. For example, if you had bad credit, no creditor will be willing to loan to you ("you" being the U.S. and "creditors" being the World) but if you owned a printing press that printed US Dollars, you can spend as much as you can print, but sooner or later you'll realize, "What's the point of even having a dollar anymore?" The Dollar will turn into confetti; it holds no value.

After losing World War I, Germany had to pay war reparations to the allies. Annual installments of 2,000,000,000 (2 billion) goldmarks plus 26% of the value of Germany's exports. The total reparations demanded? 132,000,000,000 (132 billion) goldmarks. More than what Germany owned in gold and foreign exchange. To meet the demands of the allies Germany simply ran their printing press and severely devalued the Mark. The cost of living in Germany grew by 16 times in less than a year.


Hyperinflation was so rampant in Germany that people would buy bread with a barrel Marks



Fiat Money=Confetti

The US is headed down the same path and is why this election is crucial. We need to send the right politicians to Capitol Hill, Democrat or Republican, it doesn't matter. You can't argue FDR's Liberal, "New Deal," policy didn't work, and you can't argue Reagan's Conservative, "Reaganomics" didn't work.

I am neither Democrat nor Republican. Some issues I'm very liberal on and some issues I'm very conservative on. But altogether, I have no faith in politicians, I think some elected officials go to Washington with the intention to do the right thing but all turn corrupt half-way through their terms.

Cutting back on spending will have dire consequences of course. Like the Greece debacle, a lot of public services that people have grown accustomed to and have taken for granted will be cut and this will lead to civil unrest.

Civil Unrest or Stagflation? Stagflation EVERYONE loses and civil unrest will come soon after anyway.

"The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered."
--Thomas Jefferson

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