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re: Interest on the debt is 60% of the Amount taken in by the Treasury in February
Posted on 5/9/24 at 9:59 pm to cadillacattack
Posted on 5/9/24 at 9:59 pm to cadillacattack
That ended in 1971.
2
Posted on 5/9/24 at 10:16 pm to RiverCityTider
quote:
That ended in 1971.
If you are referencing the backing of the U$D, you are correct,
But globally, assets continue to follow Exeter’s inverse pyramid, Merhling’s financial hierarchy, and the International Monetary Fund
There is a reason that the world’s Central Banks have been buying gold hand over fist, and it has little to do with the US decision to decouple the Dollar from a gold standard,
“Money is gold, and nothing else.” - J.P. Morgan, testimony before Congress 1912
Posted on 5/10/24 at 1:20 am to RiverCityTider
quote:Yep. The value of our money is based on its desirablability in international markets, our military not free to. maintain), and the governments ability to tax.
That ended in 1971.
The last one is already showing signs of cracking. Mathematically any significant revenue harvesting would have to come from massive increases to the “middle” class. Thst’s already politically untenable. It will really become a political problem with double digit interest rates, AND the government skimming 40% off the top.
This post was edited on 5/10/24 at 1:21 am
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