Debt Devalues Currency

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Commenting on Do Currency Cultists Really Believe The Dollar Is Invincible?,
Jim B says:
March 11, 2014
I’ve used this analogy before, it’s not original, I picked it up from somewhere but basically this is how it goes; In the early 60’s you could by a new Buick for around 2 thousand dollars, or 30 oz. of gold. Today you can also buy a new Buick for 30 oz. of gold, but the 2 thousand dollars used to buy the Buick in the 60’s wouldn’t pay for the tax and registration costs today. So what has devalued the fiat currency so drastically in as little as a half century? Does a government debt of 18 Trillion dollars, with 120 plus Trillion dollar obligations of future payments have something to do with it? In the last days (a decade or so) of Rome, the Emperor, Senate, and whomever else of influence attempted to literally cut their coin currency in half and through full faith and credit of the Roman government try to establish the belief that the currency was worth the same amount of monies as when it was a full size coin. It is time to realize that the full faith and credit of the U.S. government is simply a machine used to continually cut the currency in half by producing more fiat currency a.k.a. money printing i.e. the Printing Press! Essentially, in a half century we have multiplied the money supply 20 time or so to keep up with the debt of the government, who in turn adds more taxes, regulation costs and fees to collect more and more money to feed their out of control debt spending addictions. The most recent and largest of these government scams is Obamacare, huge regulations, huge tax penalties and fees for the government. The government debt is expected to grow nearly 5 trillion dollars in just five years from this latest U.S. swindle. Note, the 5 Trillion is a doubling of the CBO’s estimate of 2.5 Trillion. I have done this because we all know, and history proves, that the CBO is always off by half when it comes to debt estimating.
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