I think the American people have a tendency to confuse the term debt with ponzi. The trouble is that we try to apply the conventional definition of debt as a legitimate accounting concept. It cannot be done as refers to the so-called national debt.
The terms fiat and debt are incongruent. Fiat by definition is default. The most learned writers that I read believe that there is actually a U.S. government debt and they repeat it, and they repeat it, and they repeat it. I can easily see why the government cabal wants the people to believe that there is government debt. Otherwise people might get the idea that the Fed was operating on printing press money (fiat).
What I am saying is that the reality of government monetary realism is that the U.S. government gets everything for nothing, even wars. That’s why we have so many.
John Maynard Keynes spilled the beans if anybody was looking, in his 1920 book, The Economic Consequences of the Peace, wherein he said “If governments should refrain from regulation (taxation) the worthlessness of the money becomes apparent and the fraud can be concealed no longer.” The pretense of collecting taxes supports the psychological syndrome that there is a national debt.
Translated, what he is saying is that without regulation through the tax collection system, and I would add, the propaganda paraphernalia of the national debt, that the people might come to wake up to the fact that the government is simply printing money and spewing it out and calling fiat “debt” as if it were legitimate and conventional accounting.
Again I say that so-called “debt” on everybody’s lips is nothing more than fiat ponzi and it has no more substance than whittenpoof dust. This is cognitive dissonance, which is the concept of holding two opposing thoughts at the same time. This is the irrational state of mind of the American people.
Of course their bailout, inflation and all the rest of it dilutes all the dollars in savings and circulation. It is my view that at present they are after the remaining trillions of dollars that the American people have in savings and retirement accounts. I believe that this is economic war on the American people. Unfortunately, not one in a million will ever figure it out until we become impoverished like the Weimar Republic in 1923. All of this is nothing more than witchcraft and created and concocted in such a way that it operates above the threshold of intelligence of the people.
This translates to government fraud on a worldwide and unbelievable scale.
Back to the current precious metals market, it appears to me that there has been so much damage to sentiment that we may be several months getting into another substantial rally, barring another war, which is highly possible as fiat needs war.
Of course government bureaucrats and propagandists love this mental suppression of the precious metals market because it extends their system of fiat.